This unique book provides readers with a concise yet rigorous outline of the English corporate insolvency framework as it is practised in domestic and cross-border cases. In doing so, this primer provides clear and accessible guidance on what is often considered to be a highly technical subject. Throughout the book, Eugenio Vaccari and Emilie Ghio demonstrate how to successfully navigate the uncharted waters of the significantly revised English corporate insolvency rules and procedures. Chapters answer foundational questions in insolvency law, such as: How are companies liquidated in England? How and why are they rescued and restructured? What happens when a company is liquidated or restructured, but has assets and creditors in England and abroad? The book also includes a comprehensive analysis of the sweeping and far-reaching changes to the regulatory framework introduced in the wake of the COVID-19 pandemic. Providing a blend of accessible but detailed guidance and critical discussion, the hybrid nature of English Corporate Insolvency Law: A Primer will make the book an ideal companion for students, practitioners (especially new entrants to the profession) and researchers in the fields of company and insolvency law, both within England and internationally.

Since the adoption of the EU Regulation on Insolvency Proceedings in 2000 and its recast in 2015, it has become clear that lawyers engaged in consumer insolvency proceedings are increasingly expected to have a basic understanding of foreign insolvency proceedings, as well as knowledge of the foreign country's court and legal system, legislation and judicial practice. Written by 50 highly qualified insolvency experts from 30 European countries, A Guide to Consumer Insolvency Proceedings in Europe provides the necessary information in the largest, most up-to-date and comprehensive book on this topic. Assisting the readers in their navigation through the differences, similarities, and peculiarities of insolvency proceedings in all Member States of the European Union, Switzerland and Russia, this book is a unique guide to insolvency proceedings across Europe. With contributions by both academics and practitioners, it provides truly multinational coverage of the economic, legal, social, political, and demographic issues in consumer insolvency. Illustrating the numerous practices across Europe, this book allows the reader to evaluate each aspect both on its own merits, as well as in comparison to the approaches applied in other European jurisdictions. This book will be an invaluable tool for insolvency practitioners, judges, lawyers, creditors and debtors throughout Europe, especially those participating in cross-border proceedings. Contributors include: E. Andreeva, R. Bodis, J. Bojars, C. Booth, D. Cerini, A. Demetriadi, M. Dordevic, K. Farry, O. Fromholdt, E. Fronczak, J. Garasic, D. Grant, R. Harrison, E. Hellstrom, F. Helsen, J.-O. Heuer, V. Hoffeld, P. Jaatinen, G. Janoshalmi, B. Holohan, N. Jungmann, T. Kadner Graziano, S. Kantara, P. Keinert, B. Lurger, M. Melcher, L. Montrasio, J. Morais Carvalho, R. Norkus, A. Orgaard, D. Orsula, G. Piazza, J.P. Pinto-Ferreira, K. Pisani Bencini, M. Porzycki, A. Rachwal, M. Reymond, P. Rubellin, V. Sajadova, P. Sprinz, M.E. Storme, T. Tofaridou, H. Vallender, F.J.A. Varona, I. Venieris, P. Viirsalu, O. Zaitsev, A. Zetko, L.G. Zidaru

This timely book provides a comprehensive overview of European pension law with a dual purpose: both to introduce the legal aspects of different forms of pension at the European level, as well as to explore the main legal policy issues. Throughout the book, the three main types of pension - state pension, occupational pension and personal pension - are examined, together with the issues of financing, institutions, solvency, stakeholders, and rights and duties. The book therefore provides a nuanced guide to the field, going beyond merely a paraphrase of European law or the case law of the European Court of Justice. Yves Stevens also outlines the main principles of European pension law, reflecting on them from historical, sociological and teleological points of view. The constant interaction between law, economics and social policy is the reference point for the legal debates at the heart of this book. Offering a unique insight into how the European bodies work to bring about pension legislation, EU Pension Law will be a key resource for scholars and students in the fields of financial regulation and economics, European law, finance law and social security law.

Unlike some other reproductions of classic texts (1) We have not used OCR(Optical Character Recognition), as this leads to bad quality books with introduced typos. (2) In books where there are images such as portraits, maps, sketches etc We have endeavoured to keep the quality of these images, so they represent accurately the original artefact. Although occasionally there may be certain imperfections with these old texts, we feel they deserve to be made available for future generations to enjoy.

This innovative Commentary boasts contributions from internationally renowned experts with extensive and diverse backgrounds, providing a comprehensive, critical, article-by-article and thematic analysis of the EU Regulation No 1503/2020 on European Crowdfunding Service Providers for Business (ECSPR). Chapters analyse Member States' adaptation of their legal frameworks to the ECSPR, underlying similarities, divergences, additional problematic issues and residual regulatory fragmentation. Key Features: A theoretical and cross-sectoral approach to crowdfunding services and relative regulations Constant comparison of ECSPR's provisions with other similar or interrelated EU frameworks An article-by-article and thematic analysis of the ECSPR, underlying its strengths, innovative characters and problematic aspects Analysis of the implementation of the ECSPR in different countries and adaptation of their legal frameworks, including France, Germany, Italy, Portugal, Spain, the Netherlands, Nordic countries and the Baltics The Commentary is a fundamental companion to the interpretation and application of the ECSPR which will appeal to a diverse range of readers. Academics, scholars, practitioners and professionals interested in financial regulation, EU law, technology law, business law, law of contracts, competition law, international law and comparative law will find this a beneficial resource.

This book develops a conceptual framework that captures not only the tensions between constitutional values that are common to liberal democracies - human rights, democracy, and the rule of law - and the investment treaty regime, but also the potential for co-existence and complementarity. Contributions from leading experts in the field address how different systems of constitutional law interact with the investment treaty regime. Chapters provide a detailed overview of the various forms of interaction, and critically engage with the competing claims for supremacy that constitutional law and international investment law formulate. The book also addresses the reactions within the investment treaty regime to the demands formulated by constitutional law, in particular the use of constitutional analogies to understand international investment law and investor-state dispute settlement. Investigating the leading questions and issues surrounding this growing topic, this book will be an ideal read for students and scholars interested in financial, economic, and international law. Practitioners of constitutional law will also benefit from this innovative book.

The third edition of EU Customs Law provides a fully updated treatment of legislation, new treaties and cases in the two courts of the EU especially but also in Member States. This volume also includes commentary on the Union Customs Code and secondary legislation, and increased coverage of areas such as the wider role of customs authorities apart from the collection of customs duty, such as security of goods and post 9/11 developments generally, the history of customs unions and their implications for governments, non-EU customs unions to which EU law is relevant, and the inter-relation between customs duty and direct tax.

This comprehensive book provides a clear analysis of the European Restructuring Directive, which aims to improve national frameworks governing business restructuring and insolvency as well as to provide debt relief for individuals. Gerard McCormack explores the key aspects of the Directive including the moratorium on litigation and enforcement claims against the financially-troubled business, the provision for new financing, the division of creditors into classes, the introduction of a restructuring plan and the rules for approval of the plan by a court or administrative authority. Key features include: a unique contextualisation of the Directive, situating it against the backdrop of earlier European initiatives identification of important parallels with the UK scheme of arrangement and the new UK restructuring plan procedure embodied in the Corporate Insolvency and Governance Act 2020 a comparison of the Directive with Chapter 11 of the US Bankruptcy Code, the United Nations Commission on International Trade Law legislative guide on insolvency, and the World Bank's Insolvency and Creditor Rights and Doing Business projects. This important new book provides a detailed and practical analysis of the Directive and the implications for its transposition into national laws, making it an essential work for insolvency lawyers and practitioners, as well as EU policy makers. It will also be critical reading for academics and students of law, particularly those interested in commercial, insolvency, corporate and European law.

The second edition of the first and only concise introduction to American business insolvency law, this volume provides a succinct overview of American business bankruptcy as it is actually practiced, integrating the law as written and implemented, and now includes coverage of the Small Business Reorganization Act. American Business Bankruptcy explores specialized proceedings like brokerage liquidations, pre-packaged chapter 11 cases, and 363 sales. Professor Lubben also reviews the transnational aspects of modern American bankruptcy practice, and explains chapter 15 of the Bankruptcy Code, which allows for foreign insolvency proceedings to be 'recognized' in U.S. courts. U.S law students and junior attorneys, international insolvency professionals, and non-legal professionals, including bankers and accountants, will appreciate this practical synthesis, which includes citations and guidance for further research.

This comprehensive and essential Commentary examines both the origins and effect of the EU's 2015 Payment Services Directive (PSD2). Addressing a significant gap in the available literature, the book is divided into two parts: Part I analyses the legislative provisions of the Directive, while Part II explores the PSD2 implementation experience in selected EU Member States as well as in the United Kingdom.

In this Research Handbook, today's leading experts on the law and economics of corporate bankruptcy address fundamental issues such as the efficiency of bankruptcy, the role and treatment of creditors - particularly secured creditors - in the bankruptcy process, the allocation of going-concern surplus among claimants, the desirability of liquidation in the absence of such surplus, the role of contract in bankruptcy resolution, the role of derivatives in the bankruptcy process, the costs of the bankruptcy system, and the special case of financial institutions, among other topics. Chapters trace the historical path of both law and policy analysis, with a focus on how the bankruptcy process serves underlying policy objectives. Proposals to reform corporate bankruptcy are presented. Research Handbook on Corporate Bankruptcy Law includes policy analysis by both lawyers and economists and is thus an invaluable resource to law scholars and students interested in the economic analysis of corporate bankruptcy law, as well as to economics and business scholars and students studying the law of corporate bankruptcy. These pages will prove equally valuable to lawmakers and judges who are interested in policy analysis of corporate bankruptcy. Contributors include: K. Ayotte, D.G. Baird, A.J. Casey, T.H. Jackson, M.B. Jacoby, E.J. Janger, S.J. Lubben, E.R. Morrison, J.A.E. Pottow, R.K. Rasmussen, M.J. Roe, A. Schwartz, M. Simkovic, D. Skeel, R. Squire, G. Triantis, M.J. White, T.J. Zywicki

Presenting the evolution of supplementary pensions over the past 25 years, this comprehensive book introduces the origin of pensions as a concept and explores the role that international organisations play within the field. It draws comparisons between different welfare states, reflecting upon current research and identifying new directions and ideas. Despite observing significant differences in the approaches to pension design, the book identifies common challenges, including the need to provide for an increasingly aging population, slow economic growth following the 2008 global financial crisis, the need for effective regulation, and increased labour market flexibility. Leading scholars analyse the experiences of a broad range of countries and offer insights into their responses to the numerous challenges faced by national pension systems. The book covers significant moments in pensions history following the World Bank's 1994 report on Averting the Old Age Crisis, and subsequent responses to challenges posed by longevity and economic crises. This book will be an ideal companion for academic researchers and financial law scholars interested in pensions and looking to develop an international perspective on the issue, as well as professionals in the pensions industry who are engaging with other countries and looking to develop their knowledge of overseas pension systems.

This comprehensive book offers a rigorous analysis of the legal debates, approaches and practice-related issues surrounding financial advice and investor protection. Despite widespread recognition of the importance of financial inclusion more broadly construed, recent financial crises have highlighted deficits in retail investor protection - this book informs the development of robust yet adaptable frameworks to protect investors, including effective enforcement and dispute resolution. Divided into three thematic parts, Financial Advice and Investor Protection begins with a holistic discussion of the subject, including an examination of the impact of relatively recent technical innovations such as robo-advice. The second part evaluates the role of private law in achieving investor protection, considering in particular how tort law, contract law and equity allocate risk and liability for investment advice. Finally, the book outlines the investor protection frameworks in the jurisdictions of six significant financial centres. This book will be a crucial read for various stakeholders in the investor protection debate including practitioners advising clients who work in this field, particularly across several of the jurisdictions covered, as well as policymakers interested in the development of law and regulation in this area. Scholars and students of financial law will also benefit from its comprehensive and critical treatment of the subject.

This comprehensive book adopts a nuanced yet straightforward approach to analysing the complex phenomenon of international tax competition. Using the ongoing international efforts of the Organisation for Economic Co-operation and Development (OECD) and the European Union (EU) as a basis for its analysis, it explores the mixed effects of tax competition and offers an effective approach that takes account of the asymmetrical global context. Providing a history of the OECD's work on tax competition to date, Chidozie George Chukwudumogu argues against conventional efforts to merely restrict international tax competition, putting forward a wide regulatory approach that is more appropriate and considerate of the inequality of the states involved. The author further explains and simplifies complex terms and principles of international tax policy, demystifies common assumptions about tax competition, and identifies commonalities beyond the often polarizing debates on the topic. The Regulation of Tax Competition will be a crucial resource for academics, researchers and students with an interest in international tax law and policy. Policymakers in both international organisations such as the OECD and EU and in national governments will also benefit from awareness of the arguments explored in this book.

Anti-Money Laundering Regulation and Compliance: Key Problems and Practice Areas is a comprehensive treatment of the anti-money laundering/combatting the financing of terrorism (AML/CFT) and sanctions compliance programs, recordkeeping and reporting requirements, and the best practices under the Bank Secrecy Act (BSA) and sanctions regulatory regimes. AML/CFT and sanctions provisions are highly interrelated. Onboarding and customer due diligence requirements generate the data entered into transaction monitoring and screening systems. This book is unique in placing the prescriptive and program elements within the 'risk-based approach'that is foundational to AML/CFT compliance and the related risk management systems. Relatedly, the book describes corporate governance best practices and the 'three lines of defense' model that hold management accountable for exposure to money laundering and terrorist financing risks created by their business strategies. The book includes practical guidance on AML/CFT and sanctions model risk management, reflecting firms' growing reliance on machine learning and AI compliance solutions and the compliance risk of firms that adhere to Federal Reserve model risk management expectations. Also unique in the literature, it identifies a 'compliance paradox' that arises from the sharp tension between firms' modes of generating revenue and the law enforcement focus of AML/CFT and sanctions regulation and explains how this tension can compromise compliance. Anti-Money Laundering Regulation and Compliance also serves as a go-to guide for practitioners and beginners in the field or as a required text in graduate, certificate, and law school programs.

This thought-provoking book challenges the way we think about the regulation of cryptoassets based on cryptographic consensus technology. Bringing a timely new perspective, Syren Johnstone critiques the application of a financial regulation narrative to cryptoassets, questions the assumptions on which it is based, and considers its impact on industry development. Providing new insights into the dynamics of oversight regulation, Johnstone argues that the financial narrative stifles the 'New Prospect' for the formation of novel commercial relationships and institutional arrangements. The book asks whether regulations developed in the 20th century remain appropriate to apply to a technology emerging in the 21st, suggesting it is time to think about how to regulate for ecosystem development. Johnstone concludes with proposals for reform, positing a new framework that facilitates industry aspirations while remaining sustainable and compatible with regulatory objectives. Rethinking the Regulation of Cryptoassets will be an invaluable read for policy makers, regulators and technologists looking for a deeper understanding of the issues surrounding cryptoasset regulation and possible alternative approaches. It will also be of interest to scholars and students researching the intersection of law, technology, regulation and finance.

This important and topical book provides a comprehensive overview of the challenges raised by blockchain from the perspective of public law. It considers the ways in which traditional categories of public law such as sovereignty, citizenship and territory are shaped, as well as the impact of blockchain technology on fundamental rights and democratic values. Articulated in two sections, the first analyses the opportunities and the challenges that blockchain and distributed ledger technologies raise in the field of public and constitutional law, while the second highlights challenges derived from the intersection between blockchain and other legal fields such as contract law, financial law and antitrust law. A wide variety of expert contributions offer further examinations of the constitutional challenges of blockchain technologies that provide regulatory options for governments and lawmakers. Blockchain and Public Law will be a critical point of reference for scholars and students of legal theory, public policy and governmental law. It will also be beneficial to legal practitioners and lawmakers to further develop their knowledge of the field of blockchain at national and international levels.

At a time when climate change and the Covid-19 pandemic pose a global existential threat, this timely and important book explores how policy responses to a pandemic create both opportunities and challenges for the increased use of environmental pricing instruments, such as carbon taxes, and tradable permit schemes, and targeted green fiscal incentives. The chapters provide an important foundation of knowledge and analysis about how a pandemic affects environmental tax policy. They identify lessons from policy makers' responses to the management of the pandemic and implications for addressing the threat of climate change and other environmental challenges. They highlight the need for environmental pricing instruments in the mix of policy instruments even in the wake of a pandemic. They present theory and empirical analysis, and they feature a number of country-specific case studies, including the experience of developing countries. This book takes readers into the important and unprecedented circumstances of our time where pandemic policy meets environmental policy for the short and long terms. It will be of great interest to researchers, students and scholars in environmental policy, tax and law, as well as the industry sector, policy makers and government officials.

Cross-border insolvency protocols play a critical role in facilitating the efficient resolution of complex international corporate insolvencies. This book constitutes the first in-depth study of the use of insolvency protocols, enriching existing knowledge about them and serving as a comprehensive introduction to their application in the context of multinational enterprise group insolvency. It traces the rise of insolvency protocols and discusses their legal basis, contents, effects, major characteristics and limitations. Key features include: proposition of a Group Insolvency Protocol (GIP) design a comprehensive study of around 50 insolvency protocols from 1992 to 2020 analysis of major international insolvency law instruments, modern trends and developments in the area of insolvency of enterprise groups practical recommendations for drafting an insolvency protocol, addressing problems related to their adoption and offering suggestions for the improvement of group coordination exploration of the nature of insolvency protocols and pertinent issues including the preservation and realization of material assets, resolution of intercompany claims, information exchange, conflicts of interest, participation rights and group governance in insolvency. Cross-Border Protocols in Insolvencies of Multinational Enterprise Groups will be an indispensable resource for insolvency practitioners, lawyers, judges and policy makers, whilst also being of value to scholars and students concerned with insolvency law and corporate governance.

This timely book explores pertinent questions around the legitimacy and effectiveness of EU agencies'AEo soft law, with a particular focus on the European Securities and Markets Authority (ESMA). It examines the variety of ESMA'AEos existing and newly granted soft law-making powers, which were intended to deal with the lack of effectiveness of its predecessor but are now called into question due to the 'AEohard'AEo effect of these soft laws. Built on a combination of theoretical analysis and first-hand practical experience, Marloes van Rijsbergen tests the framework for each category of ESMA'AEos soft law instruments at each stage of the policy cycle, demonstrating that the framework can be applied to other EU agencies with similar soft law-making powers. This unique framework assesses which procedural and institutional safeguards regarding EU agencies' soft law would reflect an adequate balancing of both legitimacy and effectiveness concerns. Comprehensive yet accessible, this book will be a key resource for students and scholars of EU financial law, constitutional law, public administration and governance. Providing an evaluation of the legal nature of ESMA'AEos soft law acts in the context of the financial sector, it will also prove valuable for practitioners, compliance officers and parties establishing other EU agencies.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. This important Advanced Introduction considers the multiple ways in which law and entrepreneurship intertwine. Shubha Ghosh expertly explores key areas defining the field, including lawyering, innovation policy, intellectual property and economics and finance, to enhance both legal and pedagogical concepts. Key features include: a survey of critical scholarly articles in the field of law and entrepreneurship analysis of challenges to legal professions in the new technological environment traces the roots of law and entrepreneurship to scholarly study of intellectual property. This Advanced Introduction will be a useful resource for scholars and instructors in law and business schools who teach courses on innovation and entrepreneurship. Students at both undergraduate and postgraduate levels will also appreciate the insights provided into the basic concepts, methods and future research directions.