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This article looks at New Zealand's conduct of business rules for financial advisers. It compares New Zealand's rules to conduct of business rules applicable in the United Kingdom and Australia. There are major respects in which New Zealand's conduct of business rules fall behind best practice,...
Persistent link: https://www.econbiz.de/10012999354
When things go wrong, it is always good to find someone to blame. As the credit crisis started to unfold in 2007, credit rating agencies (“CRAs”) emerged as the villain – or scapegoat, one might say – for commentators and regulators alike. To sum up, observers accused CRAs of doing a...
Persistent link: https://www.econbiz.de/10013120955
Against a backdrop of rapidly evolving crisis management in the European financial and sovereign debt crisis this essay aims both to explore and to re-consider the role of law in the EU integration process: What did law accomplish? Where did it fail? What is law going to endure? What kind of...
Persistent link: https://www.econbiz.de/10013089383
The report describes the current developments of the German market for Non Performing Loans/Distressed Debt as it is influenced by the financial crisis/credit crunch. Furthermore the sale of (small and medium sized) real estate portfolios since summer 2007 is analysed in more detail. -- Non...
Persistent link: https://www.econbiz.de/10003814050
Private equity has seen an impressive activity surge in Germany over the last ten years. This working paper meets the increasing thirst for information on the German buyout market with an overview of its historic development, a quantitative analysis of its performance and a future outlook. While...
Persistent link: https://www.econbiz.de/10003750318
Hyman Minsky's view of the accounting structure of economy is essentially based upon ownership of wealth, cash flows … and financial instruments as entitlements to both. Further accounting notions are introduced here that improve on Minsky …'s financial analysis. From the accounting viewpoint, revenues and expenses, assets and liabilities are organized through economic …
Persistent link: https://www.econbiz.de/10013081104
The trigger for this article was the crisis caused by the collapse of an investment product arranged by Lehman Brothers Asia Limited and marketed in Hong Kong under the name ‘Minibonds'. As outlined in Part III below, this product proved popular among retail investors, many of whom incurred...
Persistent link: https://www.econbiz.de/10013142806
This Article draws lessons about the theory of law and economics from the recent financial crisis. It argues that the financial crisis teaches us that allocative efficiency, the main goal of law and microeconomics, proves an unattainable and relatively unimportant goal for laws addressing...
Persistent link: https://www.econbiz.de/10013058910
Persistent link: https://www.econbiz.de/10013444730
When contemplating Chapter 11, firms often need to seek financing for their continuing operations in bankruptcy. Because such financing would otherwise be hard to find, the Bankruptcy Code authorizes debtors to offer sweeteners to debtor-in-possession (DIP) lenders. These inducements can be...
Persistent link: https://www.econbiz.de/10012828010