This article reviews the use in the flotation of Standard Life plc of the prospectus passport for cross-border offers of securities within the EU that was introduced by the Prospectus Directive (2003). The Standard Life flotation was a major test for the new law on prospectuses and, overall, it...

This paper contains the tables of contents, legislation and cases, the introduction and the index of a book published by Cambridge University Press (2008). The cover text reads as follows: "On the one hand, it can be argued that the increasing economic and political interdependence of countries...

Proposals for Eurozone reform aim to complete its institutional architecture by securing stability without creating moral hazard. Such policy arguments inevitably rely, however, on implicit assumptions about justice, or on what is owed to whom. A common assumption is that member states are...

This paper, which will be the basis for a chapter in the forthcoming OXFORD HANDBOOK OF CORPORATE LAW AND GOVERNANCE (Jeffrey Gordon and Georg Ringe, eds.), surveys the extent of convergence in corporate law and governance over the past 15 years. The paper assesses the efforts to measure...

This paper, which will be the basis for a chapter in the forthcoming Oxford Handbook of Corporate Law and Governance (Jeffrey Gordon and Georg Ringe, eds.), surveys the extent of convergence in corporate law and governance over the past 15 years. The paper assesses the efforts to measure...

Section 913 of the Dodd-Frank Act requires the U.S. Securities and Exchange Commission to conduct a study regarding gaps or deficiencies in the regulation of broker-dealers and investment advisers. These firms often perform similar functions but are regulated differently under an antiquated...

Why, since the mid-1980s, have so many European governments decided fiscally to support the development of private retirement savings accounts? Whereas analysts of pension reform in affluent democracies have traditionally considered the development of private pensions as a secondary outcome of...

High-frequency trading, dark pools, front-running, phantom orders, short selling — the way securities are traded ranks high among today's regulatory challenges. It has become commonplace, both in financial and in academic circles, to call for the government to intervene and impose order. From...

More than decade ago EU financial regulation introduced modern, systematic and detailed administrative regulation of investor protection. In general, it did not address the civil law effects of this regime and did not specify civil remedies for the protection of the investors, except some minor...

Europe remains a tempting destination for East Asian SWFs. Almost a third of their investments have been committed to EU countries. Nearly all of the assets have been invested by Chinese and Singaporean funds. The investment policy of East Asian SWFs has significantly evolved over the past few...