Just months apart in 2020, two judges from the Southern District of New York wrote incredibly important opinions concerning the SEC’s approach to regulating the sales of cryptoassets. In both SEC v. Telegram and SEC v. Kik, the court concluded that the way in which a large, reputable social...

The English law of mortgage is remarkable. Its complexity rivals that of Euler's equation and could, in the same manner, be described as ‘beautiful'. Its stubborn retention of archaic terms and concepts operates in sharp contrast to the ever changing world of finance which it inhabits. Most...

In one of the greatest extensions of property rights in human history, common law countries began giving rights to married women in the 1850s. Before this "women's liberation," the doctrine of coverture strongly incentivized parents of daughters to hold real estate, rather than financial assets...

This paper looks to explore the effects of James Buchanan's book Cost and Choice since its publication. I discuss how Cost and Choice has had a limited impact on the treatment of welfare economics within Law & Economics. I then elaborate on Buchanan's discussion to highlight other issues within...

Bei der Suche nach etwas mehr Rendite in Zeiten niedriger Zinsen wenden sich Kleinanleger verstärkt hin zum Crowdfunding. Doch Ertrag und Risiko sind auch im Crowdfunding sowie bei allen anderen Finanzgeschäften strikt positiv miteinander korreliert. Das heißt, der Investor kann durch...

SUERF – The European Money and Finance Forum, the Deutsche Bundesbank and the Institute for Monetary and Financial Stability (IMFS) took the opportunity of the first anniversary of this new institution to organise a joint conference in Berlin on 8-9 November 2011. The purpose of this event was...

On November 14th, 2014, SUERF – The European Money and Finance Forum – and CNMV, Comisión Nacional del Mercado de Valores – the Spanish Authority for supervision of securities markets – jointly organized a conference in Madrid: Challenges in Securities Markets Regulation: Investor...

Dieser Forschungsbericht untersucht die Auswirkungen der im Sommer 2015 eingeführten Befreiungsvorschriften des Kleinanlegerschutzgesetzes. Durch eine stärkere Regulierung soll das Kleinanlegerschutzgesetz für mehr Transparenz für Anlegerinnen und Anleger auf dem grauen Kapitalmarkt sorgen....