Integrated capital markets could smooth a large share of country-specific consumption and income fluctuations. Equity capital play an important role in the process. Insolvency regulations are a key factor for stronger equity market integration. Uniform European insolvency regulations are...

Transplantation of laws from a foreign country is an explicit regulatory choice. It is a choice made by governments and influenced by local and international interest groups. This Article analyzes a complex junction where international legal transplantation encounters destructive transactional...

Financial collateral is a concept that starts from the idea of traditional security interests and is then developed considerably further. Security interests are restricted in their scope of application and typically impose a number of requirements and limitations on the creditor (security taker)...

This Written Statement presents aspects in China's corporate governance framework, state corporate ownership and control, and the Chinese Communist Party's roles in corporate governance. It was submitted as part of a testimony before the U.S.-China Economic and Security Review Commission,...

After introducing some fundamental concepts of relevance to Islamic finance, this article describes investment funds used to make investments in the United States, lease (ijara) investment structures used for real estate investments in different jurisdictions (including the early development of...

This is a chapter for the forthcoming book in West Publishing Company's Inside the Minds Series focusing on Financial Services Enforcement and Compliance (published by Aspatore Books). This chapter provides an overview of nature and current state of the markets for the equity side and debt...

This article analyses and discusses the new MiFID II and MiFIR rules for the EU financial markets. In particular, it analyses the terms ‘regulated market', ‘MTF', ‘OTF' and ‘(systemic) internalisation'. It also discusses (i) pre-trade and post-trade transparency, (ii) transaction...

On 3 January 2018 – some ten years later – the MiFID regime will be replaced by MiFID II, which comprises, among other things, a directive (MIFID II), the Markets in Financial Instruments Regulation (MiFIR) and a truly impressive number of implementing measures, commonly referred to as level...