The European Union has had a uniform legal framework to transparency of major holdings and financial instruments since 2004. These provisions are to be reformed. In October 2011, the European Commission presented a proposal for a Directive to amend the Transparency Directive. This paper analyses...

The European Commission has recently released a Proposal for a Regulation on market abuse, to increase investor confidence and market integrity in European capital markets law. One of its most innovative elements involves allowing Member States to provide financial incentives to whistleblowers...

The European Commission has recently released a Proposal for a Regulation on market abuse, to increase investor confidence and market integrity in European capital markets law. One of its most innovative elements involves allowing Member States to provide financial incentives to whistleblowers...

International securities regulation has arrived at the forefront of the country's debate on financial market reform. The global economic crisis has exposed the enormous systemic risk that can arise where securities are sold across borders. Meanwhile, the Bernie Madoff and Allen Stanford frauds...

Foundations of capital markets legislature in Europe -- Basics of capital markets law -- Market integrity -- Disclosure system -- Trading activities -- Intermediaries -- Financial services -- Organisational requirements for investment firms -- Regulation of benchmarks -- Takeover law -- Conclusion

This paper discusses problems of harmonisation and regulation of the European Internal Financial Market. The argument is that the current division of powers between the EU and Member States is not achieving sufficient harmonisation to develop an internal market. The obstacles to the Internal...

The Council is a crucial intergovernmental institution of the European Union. However, the complex, opaque and consensual character of the decision-making process in the Council puts its legitimacy into question. Intergovernmentalist theory posits that it is sufficiently legitimised, indirectly,...

This paper is the national report for Germany prepared for the to the 20th General Congress of the International Academy of Comparative Law 2018 and gives an overview of the regulation of crowdfunding in Germany and the typical design of crowdfunding campaigns under this legal framework. After a...

The EU Taxonomy Regulation (TR), adopted in 2019, is a key milestone in defining legally sustainable activities. It should be viewed within the context of the climate and energy targets set by the EU for 2030 in order to become climate-neutral by 2050, and constitutes, along with the Sustainable...