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Explanatory Report on the Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary

Explanatory Report on the Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary Author Royston Miles Goode
ISBN-10 9004148361
Release 2005
Pages 196
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The last several decades have seen a dramatic increase in the value, number and speed of cross-border securities transactions, facilitated by advances in technology. Legal uncertainty as to the law governing the perfection, priority and other effects of transfers imposes significant friction costs on even routine transactions and operates as an important constraint on desirable reductions in credit and liquidity exposures. To address the current uncertainties, the 19th Diplomatic Session of the Hague Conference on Private International Law unanimously adopted the "Convention on the Law Applicable to Certain Rights in Respect of Securities held with an Intermediary" (the Hague Securities Convention). This volume provides the most authoritative and comprehensive explanations of the Convention. It is divided into two parts: A General Introduction, which offers a helpful overview of the Convention and succinctly describes its key features, and a full commentary on each article of the Convention. Numerous practical examples effectively illustrate the nature and content of the commentaries.



Intermediated Securities

Intermediated Securities Author Pierre-Henri Conac
ISBN-10 9781107244801
Release 2013-05-30
Pages
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In today's financial markets, investors no longer hold securities physically. Instead, securities such as shares or bonds are mostly held through intermediaries and transferred by way of book-entries on securities accounts. However, there are remarkable conceptual differences between the various jurisdictions with regard to the legal treatment of intermediated securities. It is widely agreed that this patchwork creates considerable legal risks, especially in cross-border situations. Two initiatives are in place to reduce these risks. In 2009, the UNIDROIT Convention on Substantive Rules for Intermediated Securities (the 'Geneva Securities Convention') was adopted, aimed at harmonisation on the international level. The EU Commission is also running a legislative project, to achieve harmonisation at the regional level. This book compares both initiatives and analyses their impact on the securities laws of selected European jurisdictions.



Property Rights in Investment Securities and the Doctrine of Specificity

Property Rights in Investment Securities and the Doctrine of Specificity Author Erica Johansson
ISBN-10 9783540859048
Release 2009-01-31
Pages 220
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This book evaluates the requirement for specificity as a criterion for property rights in securities evidenced by electronic entries made on securities accounts. It compares English, US and Swedish law with the aim of finding viable solutions.



Official Commentary on the UNIDROIT Convention on Substantive Rules for Intermediated Securities

Official Commentary on the UNIDROIT Convention on Substantive Rules for Intermediated Securities Author Hideki Kanda
ISBN-10 9780191630774
Release 2012-03-08
Pages 320
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This authoritative guide to the Geneva Securities Convention is the first and only UNIDROIT backed analysis of the content of the international treaty. It streamlines the otherwise complicated and numerous transactions of intermediated securities providing easy access for practitioners and scholars in the field. The Commentary is written by participants to the negotiations and discussions which resulted in the final version of the treaty. The Geneva Securities Convention was developed as a result of the change in the way that securities are held and highlights the position of intermediated securities at the core of the international financial system. The Convention includes key provisions for governing intermediated securities designed to harmonise domestic law and clarify points of difficulty. The general introduction to the commentary sets out the reasons for developing the Convention and the principal concepts underlying its development. The main part of the commentary follows the structure of the Convention and is arranged on an article-by-article basis. The treatment of each article is subdivided into three main parts: An introduction explaining the main goal of that article; a section setting out the genesis of the provision during intergovernmental negotiation; and a part discussing in depth the application of the provision with reference to practical examples. The Convention is a highly complex instrument and the commentary provides much-needed guidance to the application and interpretation of its provisions. This is a must-have reference for lawyers and scholars interested in financial law, as well as securities intermediaries, clearing houses, banks and government officials.



Europe s Untapped Capital Market

Europe s Untapped Capital Market Author Diego Valiante
ISBN-10 1786600447
Release 2016-03-03
Pages 288
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This book builds on a year-long discussion with a group of academics, policy-makers and industry experts to provide a long-term contribution to the Capital Markets Union project, launched by the European Commission in 2015. It identifies 36 cross-border barriers to capital markets integration and provides an organic plan, consisting of 33 policy recommendations, to relaunch EU financial integration. These aim to improve the key components of cross-border capital market transactions.



Cross border Transactions of Intermediated Securities

Cross border Transactions of Intermediated Securities Author Changmin Chun
ISBN-10 9783642278532
Release 2012-08-04
Pages 504
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This work aims to analyse substantive and conflict of laws rules regarding intermediated securities in a comparative way. For this purpose, it examines major jurisdictions’ rules for intermediated securities and the intermediated securities holding systems, such as the rules of the German, US, Korean, Japanese and Swiss systems, as well as the relevant EU regimes and initiatives. Above all, it analyses the two international instruments related to intermediated securities, i.e. the Geneva Securities Convention and the Hague Securities Convention. Through a functional comparative approach based upon legal traditions of the various jurisdictions, this book gives readers theoretical and practical information on intermediated securities and their national and international aspects.



Human Rights in Business

Human Rights in Business Author Juan José Álvarez Rubio
ISBN-10 9781351979153
Release 2017-01-20
Pages 158
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The capacity to abuse, or in general affect the enjoyment of human, labour and environmental rights has risen with the increased social and economic power that multinational companies wield in the global economy. At the same time, it appears that it is difficult to regulate the activities of multinational companies in such a way that they conform to international human, labour and environmental rights standards. This has partially to do with the organization of companies into groups of separate legal persons, incorporated in different states, as well as with the complexity of the corporate supply chain. Absent a business and human rights treaty, a more coherent legal and policy approach is required. Faced with the challenge of how to effectively access the right to remedy in the European Union for human rights abuses committed by EU companies in non-EU states, a diverse research consortium of academic and legal institutions was formed. The consortium, coordinated by the Globernance Institute for Democratic Governance, became the recipient of a 2013 Civil Justice Action Grant from the European Commission Directorate General for Justice. A mandate was thus issued for research, training and dissemination so as to bring visibility to the challenge posed and moreover, to provide some solutions for the removal of barriers to judicial and non-judicial remedy for victims of business-related human rights abuses in non-EU states. The project commenced in September 2014 and over the course of two years the consortium conducted research along four specific lines in parallel with various training sessions across EU Member States. The research conducted focused primarily on judicial remedies, both jurisdictional barriers and applicable law barriers; non-judicial remedies, both to company-based grievance. The results of this research endeavour make up the content of this report whose aim is to provide a scholarly foundation for policy proposals by identifying specific challenges relevant to access to justice in the European Union and to provide recommendations on how to remove legal and practical barriers so as to provide access to remedy for victims of business-related human rights abuses in non-EU states.



Principles on Choice of Law in International Commercial Contrats

Principles on Choice of Law in International Commercial Contrats Author
ISBN-10 9490265284
Release 2015
Pages
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Principles on Choice of Law in International Commercial Contrats has been writing in one form or another for most of life. You can find so many inspiration from Principles on Choice of Law in International Commercial Contrats also informative, and entertaining. Click DOWNLOAD or Read Online button to get full Principles on Choice of Law in International Commercial Contrats book for free.



Intermediated Securities

Intermediated Securities Author Louise Gullifer
ISBN-10 9781847318015
Release 2010-06-17
Pages 294
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Globally, there has been a shift from securities being held directly by an investor, to a situation in which many securities are held via an intermediary. The existence of one or more intermediaries between the investor and the issuer has a potentially significant impact on the rights of the investor, the role and obligations of the issuer, and on the position and responsibilities of the intermediary. However, different jurisdictions have dealt with the issues arising from intermediation in a variety of ways. In the UK, for example, the concept of a trust is used to explain the different rights and obligations which arise in this scenario, whereas in the US the issues have been addressed by legislation, in the form of UCC Article 8. This variety is problematic, given that it is possible for an investor to hold securities in a number of different jurisdictions. A new UNIDROIT Convention on the issue of Intermediated Securities, the Geneva Securities Convention 2009, aims to create a common framework for dealing with these issues. This collection of essays explores the issues that arise when securities are held via an intermediary, and in particular assesses the solutions put forward by the new Convention on this issue. It will be essential reading for practitioners and academics.



The Law of Cross border Securities Transactions

The Law of Cross border Securities Transactions Author H. van Houtte
ISBN-10 0421653809
Release 1999
Pages 318
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Examines the principles that determine which national law applies to different transnational securities transactions. The book discusses topical issues such as WTO and EU attempts to liberalize the securities trade national boundaries.



The Multilateral Convention on Mutual Administrative Assistance in Tax Matters Amended by the 2010 Protocol

The Multilateral Convention on Mutual Administrative Assistance in Tax Matters Amended by the 2010 Protocol Author OECD
ISBN-10 9789264115606
Release 2011-06-01
Pages 112
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This publication contains the official text of the Multilateral Convention on Mutual Assistance in Tax Matters as amended by the 2010 Protocol.



Making European Private Law

Making European Private Law Author Fabrizio Cafaggi
ISBN-10 9781848441279
Release 2010-01-01
Pages 368
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This is a remarkably ambitious work of scholarship. What can Europe bring to private law, and what can it take away? And how do we shape the institutional design of the governance model(s) that comprise Europe ? A stellar collection of contributors provides important fresh insights into the evolving and varied patterns according to which private law is generated in Europe. Stephen Weatherill, Somerville College, Oxford, UK The debate concerning the desirability and modes of harmonisation of European Private Law (EPL) has, until now, been mainly concerned with substantive rules. The link between rules and institutions suggests that governance of both the process of harmonisation and its outcome is necessary. This book covers various perspectives on the challenge of designing governance for EPL: the implications of a multi-level system in terms of competences, the interplay between market integration and regulation, the legitimacy of private law making, the importance of self-regulation, the usefulness of conflict of law rules, the role of intergovernmental institutions, and the aftermath of enlargement. In addressing these, the book s achievements are to successfully link two areas of scholarship that have so far remained separate, EPL and new modes of governance, and to address institutional reforms. The contributions offer different proposals to improve governance: the creation of a European Law institute, the improvement of judicial cooperation among national courts, the use of committees for implementation of EPL. Suggesting practical institutional reforms that can improve the process of Europeanisation of private law, this book will be of great interest to scholars of law, politics, political science, sociology and economics. It will also appeal to policymakers, and members of both European institutions and national institutions dealing with European matters.



The Integration of European Financial Markets

The Integration of European Financial Markets Author Noah Vardi
ISBN-10 9781136847820
Release 2010-12-14
Pages 208
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The last decade has seen the increasing integration of European financial markets due to a number of factors including the creation of a common regulatory framework, the liberalisation of international capital movements, financial deregulation, advances in technology and the introduction of the Euro. However, the process of integration has proceeded largely in the absence of any comprehensive legal regulation, and has rather been constructed on the basis of sectorial provisions dictated by the needs of cross-border transactions. This has meant that many legal barriers still remain as obstacles to complete integration. This book considers the discipline of monetary obligations within the wider context of financial markets. The book provides a comparative and transnational examination of the legal rules which form the basis of transactions on financial markets. Analysing the integration of the markets from a legal point of view provides an opportunity to highlight the role of globalisation as the key element favouring the circulation of rules, models, and especially the development of new regulatory sources. The book examines market transactions and the institutes at the root of these transactions, including the type of legislative sources in force and the subjects acting as legislators. The first part of the book concentrates on the micro-discipline of money, debts, payments and financial instruments. The second part goes on to analyse the macro-context of integration of the markets, looking at the persistence of legal barriers and options for their removal, as well as the development of new legal sources as a consequence of the transfer of monetary and political sovereignty. Finally, the book draws links between the two parts and assesses the consequences of the changes at the macro-level of regulation on the micro-level of legal discipline of monetary obligations, particularly focusing on the emergence and growing importance of soft law.



Harmonisation of Securities Law

Harmonisation of Securities Law Author Matthias Haentjens
ISBN-10 9041126392
Release 2007
Pages 413
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Is harmonisation of European securities law a good idea? According to this original analysis, the answer is a qualified yes. If it can be done without undermining the various systems that now govern the custody and transfer of securities in national European jurisdictions, harmonisation will be well received. The author first shows that such an acceptable outcome is indeed possible, and then offers a detailed analysis of the form it might take. Along the way he compares the current infrastructure of securities law in three European countries (Belgium, France, and the Netherlands) with generally accepted standards of modern securities custody and transfer practice, as well as with the harmonisation inherent in the United States Universal Commercial Code. Among the elements of securities law discussed in this comparative context are the following: eligible categories of securities; accountholder-intermediary relationship; intermediary insolvency; shortfalls; moment of transfer; enforcement of securities rights; and conflict of laws. In approaching the actual form of a European securities instrument, the author considers important relevant initiatives taken by various groups, such as Unidroit, the Hague Convention on Private International Law, and some industry sectors. As an in-depth contribution to this important aspect of the ongoing debate about the harmonisation of European private law, and as an assessment of the possible impact of harmonisation measures by means of a coherence account, this book will be especially valuable to European policymakers and securities regulatory officials. It will also interest practitioners and academics in such diverse fields as commercial law, European law, insolvency law, contract law, and property law.



Ne Bis in Idem in EU Law

Ne Bis in Idem in EU Law Author Bas van Bockel
ISBN-10 9781316720653
Release 2016-11-10
Pages
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Questions of the application and interpretation of the ne bis in idem principle in EU law continue to surface in the case law of different European courts. The primary purpose of this book is to provide guidance and to address important issues in connection with the ne bis in idem principle in EU law. The development of the ne bis in idem principle in the EU legal order illustrates the difficulty of reconciling pluralism with the need for doctrinal coherence, and highlights the tensions between the requirements of effectiveness and the protection of fundamental rights in EU law. The ne bis in idem principle is a 'litmus test' of fundamental rights protection in the EU. This book explores the principle, and the way the Court of Justice of the European Union has interpreted it, in the context of competition law and the areas of freedom, security and justice, human rights law and tax law.



Transnational Securities Law

Transnational Securities Law Author Thomas Keijser
ISBN-10 0199677867
Release 2014-03
Pages 352
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The book explains the current international law on intermediated and non-intermediated securities and suggests solutions to problems where there are gaps in the legislation or where the current framework could be improved.



Brussels Ibis Regulation

Brussels Ibis Regulation Author Vesna Lazić
ISBN-10 9789462651470
Release 2016-11-24
Pages 152
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This book focuses on major amendments introduced in the Brussels I regulatory framework. The contributions scrutenise the changes introduced in the Brussels Ibis Regulation, a legal instrument that presents a core of the unification of private international law rules on the European Union level. It is one of the first publications addressing all the changes in the Brussels I regulatory scheme, which takes into consideration relevant CJEU case law up to July 2016. The texts, written by legal scholars who have published extensively in the field of private international law and international civil procedure, will add to the development of EU private international law. In addition, the authors’ critical analysis may open further discussions on the topic and so benefit a consistent and harmonised application of the Regulation. In this respect the book takes a different approach than the commentaries which have so far been published. It is primarily meant for legal academics in private international law and practitioners who are regularly engaged in cross-border civil proceedings. It may also be of added value to advanced students and to those with a particular interest in the subject of international litigation and more generally in the area of dispute resolution. Vesna Lazić is a Senior Researcher at the T.M.C. Asser Instituut, an Associate Professor of Private Law at Utrecht University and Professor of European Civil Procedure at the University of Rijeka. Steven Stuij is an expert in Private International Law and an external Ph.D. candidate at Erasmus School of Law, Rotterdam.