Professional services are a key component of the EU internal market economy yet also significantly challenge the legal framework governing this internal market. Indeed, specific professional regulatory structures, which are often the result of a blend of government and self-regulation, hold clear potential for conflict with EU free movement and competition law rules. Hence this book looks at the manner in which both free movement and competition laws might apply to such self- and co-regulatory set-ups, and at the leeway given to quality considerations (apparently) conflicting with free movement or competition objectives. In addition, since court action will seldom suffice to genuinely integrate a market, the book also explores those instruments of EU secondary legislation that are likely to impact the most on the provision of professional services. However, the book goes beyond a mere inventory to ask how EU Internal Market policy could contribute to the optimal legal environment for professional services. A law and economics analysis is employed to investigate the need for specific professional rules, the preferred type of regulator (self-, co- or government regulation), and the level - national and/or European - at which regulation should be adopted. As becomes clear, the story of the market for professional services is one of market and government failure; the author is thus left to compare imperfect situations where market failures compete with rent-seeking efforts, the tendency towards over-centralisation and national protectionism. This book offers both an in-depth legal analysis of the EU framework as it applies to professional services as well as a more normative evaluation of this framework based on insights from law and economics scholarship. It will therefore be a valuable resource for all practitioners, policy-makers and academics dealing with professional services, as well as, more generally, with questions of quality and self-regulation.

This annual reference provides a platform for debate and comment on key issues affecting the world's capital markets. It comprises a selection of articles and commentary on developments, a year-in-review section, and special reports on seminars and other events. It presents a detailed overview and analysis of trends worldwide, particularly highlighting developments of more widespread interest. The book is published under the auspices of the Capital Markets Forum of the IBA's Section on Business Law.

This volume focuses on the responsibilities of online service providers (OSPs) in contemporary societies. It examines the complexity and global dimensions of the rapidly evolving and serious challenges posed by the exponential development of Internet services and resources. It looks at the major actors - such as Facebook, Google, Twitter, and Yahoo! - and their significant influence on the informational environment and users' interactions within it, as well as the responsibilities and liabilities such influence entails. It discusses the position of OSPs as information gatekeepers and how they have gone from offering connecting and information-sharing services to paying members to providing open, free infrastructure and applications that facilitate digital expression and the communication of information. The book seeks consensus on the principles that should shape OSPs' responsibilities and practices, taking into account business ethics and policies. Finally, it discusses the rights of users and international regulations that are in place or currently lacking.

In an attempt to reduce barriers to international trade, public procurement agreements have evolved during the last three decades of the 20th-century at both global and regional levels. These agreements give rise to a number of complex, topical issues. Yet apart from studies on European Union procurement rules, there are few books on public procurement, particularly covering regional procurement agreements. This study provides an assessment of these agreements, focusing on the problem of protectionism in government procurement, long recognized as a major barrier to international trade. Procurement lawyers, experts and officials; international economic law professors; public international lawyers; and international organizations should all appreciate this guide to understanding international procurement agreements, including the new tendering rules they impose. It also features coverage of all types of international public procurement regimes, multilateral, regional and bilateral.

Central Asia has emerged as potentially the most important new hydrocarbon province in decades. Among the countries whose natural resources are now the focus of world attention, Kazakhstan is very much in the front tank. The scale and strategic importance of its reserves mean that it is set to become one of the key players in the global market. Realizing that potential depends on many factors, not least its legal treatment of the oil and gas industry. The contributors to this volume consider the various dimensions of that legal treatment, including investment and contractual issues, dispute settlement, transport and refining, environmental issues, and taxation. The importance of the international context for Kazakhstan's domestic law is key feature of this book, as is a concern with identifying existing problems and suggesting the most fruitful direction for reform. The book will be of interest to practitioners and academics working in the specific field as well as in the more general area of legal relations between the oil and gas industry and transition economies. Ilias Bantekas is Reader in Law at the University of Westminster, London, UK. He has written widely in the field of international law and won the International Committee of the Red Cross Paul Reuter prize in 2000. Visiting Fellow at Harvard Law School (2003-04). John Paterson is Reader in Law at the University of Westminster, London, UK. He has written on the regulation of the oil and gas industry and acts as a consultant to the OECD Nuclear Energy Agency. Maidan Suleimenov is Professor of Law at the Kazakh State Academy of Law and Adilet Higher Law School, Almaty, Kazakhstan. He was directly involved in Kazakhstan'saccession to the Energy Charter Treaty and has also been responsible for legislative drafting in the field.

Regulating subsidies in international trade is crucial to the efficient and equitable allocation of resources and ultimately to global welfare. Much of the serious instability that persists in today's interdependent world may be traced to government interventions that dilute or defy such regulation. In this in-depth analysis of subsidies and State aids, Gustavo Luengo details the regulatory elements that reveal how governments undertake the granting of support to their national industries. Although in theory such support is aimed at two overriding economic objectives - the elimination of harmful distortions, and the correction of market failures - he shows that in practice it is political contexts that determine the principles and objectives of the regulation of subsidies. The analysis focuses on two mature regulatory systems, those of the World Trade Organization (WTO) and the European Communities (EC). The author describes both legal frameworks, and then proceeds to examine the differences and conflicts between the two systems, along with their reasons, consequences, and possible solutions. Significant aspects of the regulation of subsidies that emerge from the analysis include the following: the role of 'countervailing measures'; the EC notion of 'State aid' as developed by the European Commission and the European Court of Justice; procedures for controlling subsidies under both systems and the consequences of granting subsidies in violation of applicable rules; the elements of 'financial contribution' and 'benefit' under the Agreement on Subsidies and Countervailing Measures (ASCM); actionable and non-actionable subsidies; agricultural subsidies in both systems; and, the role of WTO dispute settlement procedures. Both for its clear and comprehensive overview of the regulation of subsidies and State aids and for its insightful recommendations, this book will be welcomed as a major contribution to the field of international economic law. Practitioners, policymakers, officials, and academics will all find it enormously valuable for its analytic depth and its direct applicability to the need to develop fair and enforceable regulation of subsidies and State aids.

This book contains a series of studies of the regulation under English law of the range of business organisational structures available to entrepreneurs. It analyses the commonest of these structures,including limited companies (public and private), groups of companies, privatised enterprises, and partnerships, as well as the more specialised forms such as industrial and provident societies, banks, building societies, insurance companies, joint ventures, franchise agreements, limited partnerships and overseas companies. Set within the context of a period of considerable actual and proposed legal change, the contributions (from recognised authorities in their respective fields) analyse the broad regulatory structure adopted for each of the above business forms, outline the changing patterns of regulation and consider likely future developments. Several broad themes run through the work, including the relationship between the economic desirability of facilitating enterprise and the need to regulate against possible abuse; stakeholder protection; pursuit of risk management strategies and the implications of European harmonisation in the business sector.

Corporate Finance for Lawyers explores the intricate relationship between law and corporate finance. Utilizing the 'Financial Mindmap' throughout, chapters depict financial concepts by using colours and visualizations in a clear and intuitive manner. The book provides an introduction into the basic building blocks of corporate finance including, Enterprise Value, Equity Value and Net Debt, and the dominant company valuation methods of EBITDA-multiples and Discounted Cash Flow. The book further explains finance patterns from both a finance and a legal perspective, most notably the use of non-interest bearing, secured credit, shareholder loans and guarantees, ending with reorganization procedures. By providing a uniquely integrated analysis of law and corporate finance, this practical book will be a beneficial resource for lawyers, including judges, from all over the world involved in financial transactions and corporate litigation. Students of law and finance will find the book an excellent learning experience, since it discusses the foundational principles of law and finance and how they relate to real-world practices. Finance professionals will also benefit greatly from the depiction of finance in action rather than as assumed under perfect markets.

This book explores the normative and legal evolution of the Social Dimension - labour law, social security law and family law - in both the EU and its Member States, during the last decade. It does this from a wide range of theoretical and legal-substantive perspectives. The past decade has witnessed the entering into force of the Lisbon Treaty and its emphasis on fundamental rights, a new coordination regulation within the field of social security (Regulation 883/2004/EC), and the case law of the Court of Justice of the European Union in the so-called Laval Quartet. Furthermore structural changes affecting demographics and family have also challenged solidarity in new ways. The book is organised by reference to distinct 'normative patterns' and their development in the fields of law covered, such as the protection of established groups, the position of market functional values and the scope for just distribution. The book represents an innovative and important interdisciplinary approach to analysing EU law and Social Europe, and contributes a complex, yet thought-provoking, picture for the future. The contributors represent an interesting mix of well-known and distinguished as well as upcoming and promising researchers throughout Europe and beyond.

This book is both a repertory guide to the Convention on International Civil Aviation (Chicago Convention) as well as a legal analysis of the provisions of the treaty. It traces action taken by the ICAO Assembly and the Council in the implementation of the Convention from the first ICAO Assembly in 1947 until 2012. Above all, the book offers a commentary on the functional and moral fabric of the Chicago Convention, which is not only a multilateral legal instrument that sets out basic principles of air navigation and air transport, but also serves as a moral compass that brings the people of the world together.

The teleological nature of the Chicago Convention is reflected from the outset from its Preamble which sets the tone and philosophy of the Convention that aviation builds friendship and understanding among all people, to its technical provisions that range from rules of the air to landing at airports and customs and immigration procedures. The book effectively demonstrates the Aristotelian principle that rules make people good by forming habits in them. Standardization, or in other words, compliance, is the driver of the Convention that keeps aviation safe, regular, efficient and economical. To that end, this book traces and details the sustained relevance of the Chicago Convention and the efforts of ICAO and the international aviation community towards keeping air transport on track and ready for its future exponential growth, both in letter and in spirit. "

It is widely assumed today that the "welfare state" is contracting or retrenching as an effect of the close scrutiny to which entitlement to social-security benefits is being subjected in most developed countries. In this book, 15 authorities from nine different countries - the UK, the Netherlands, France, Germany, Spain, Denmark, Finland, Norway and the US - investigate to what extent this assumption is warranted. The papers were originally presented at a Conference on "The Future of Social Security" held at the University of Stirling in June 2000. Taking into account developments and initiatives at every administrative level from sub-national employment agencies to the OECD and the World Bank, they draw on both data and theories in a broad spectrum of related disciplines, including political science, economics, sociology and law. Detailed materials allow the reader to formulate well-defined responses to such questions as: is there indeed waning public support for social security?; is the "demographic time bomb" of an ageing population as serious a problem as we are often led to believe?; how seriously do supranational reform proposals tend to underestimate cross-national differences? to what degree is "activation policy" merely rhetorical?; to what extent do employment-office staff reformulate and redefine policies "on the ground" to accommodate specific case-by-case realities? Specific criteria for entitlement (such as disability) and such central issues as "gendered" assumptions, access to benefit programmes and the involvement of trade unions are examined in a variety of contexts. As an authoritative assessment of the current state of social-security reform - its critical issues, its direction, and its potential impacts - this book should prove to be of value to all professionals and officials concerned with social programmes at any government level.

This book analyses EU food law from a regulatory, economic and managerial perspective. It presents an economic assessment of strategies of food safety regulation, and discusses the different regulatory regimes in EU food law. It examines the challenges of food safety in the internal market as well as the regulatory tools that are available. The book's generic theorising and measurement of regulatory effects is supplemented by detailed analysis of key topics in food markets, such as health claims, enforcement strategies, and induced risk management at the level of the organizations producing food. The regulatory effects discussed in the book range from classical regulatory analysis covering e.g. effects of ex-ante versus ex-post regulation and content-related versus information-related regulation to new regulatory options such as behavioral regulation. The book takes as its premise the idea that economic considerations are basic to the design and functioning of the European food supply arena, and that economic effects consolidate or induce modification of the present legal structures and principles. The assessments, analyses and examination of the various issues presented in the book serve to answer the question of how economic theory and practice can explain and enhance the shaping and modification of the regulatory framework that fosters safe and sustainable food supply chains.

This book addresses some of the most debated topics preceding the UK referendum on membership of the EU, namely welfare services and free movement of citizens. The work improves understanding of the implications of the European Economic Area (EEA) Agreement, which is the most integrated form of association agreement with the EU for non-member states. The author considers the impact of EEA law on both European Free Trade Association (EFTA) states and on EU Member States, and looks at case law. A broad range of welfare services are analysed, including public healthcare and educational services, various social services, and public utilities such as transport and public broadcasting. Free movement of students, of patients and public financing of welfare services are among the issues explored. The focus here is particularly on legal aspects and the demonstrated development of the EEA Agreement into the welfare sphere. This work enables a sophisticated analysis about the nature of the principles of homogeneity and dynamism. The book is essential reading for scholars who seek to understand the EU's legal framework, the EEA Agreement and its implications. The topics covered are also relevant to UK/EU discussions on future relations, both for intermediate and long-term arrangements.

Health and safety issues now impose upon almost every part of business life. The system of enforcement is managed and implemented in the UK by The Health and Safety Executive (HSE) - but at times it can be difficult to know exactly which bits of this elaborate spider s web should be applied in a given instance, and which are most important. This Quick Guide puts the subject into context, providing a rational overview and a valid starting point to applying health and safety in the workplace, and offers a concise and readily accessible interpretation of what health and safety legislation means in practice.
Puts health and safety in to contextProvides a rational overview and starting point to applying health and safety in the workplaceOffers a concise interpretation of health and safety legislation in practice"

The number of hedge funds and the assets they have under management has increased in recent years. This increase became significantly more pronounced after the market downturn in 2001. Hedge funds can help investors to benefit from volatile and even sinking stock markets. However, despite the prominent use of the word "hedge" in their name, such funds rarely offer a safe hedge against risk, given that they depend heavily on skill-based investment techniques and often invest in highly speculative financial instruments. Nevertheless, such funds received no specific treatment in the legislation of such major markets as Germany and the United States for years. Against the backdrop of international regulatory concern for hedge funds, the Institute for Law and Finance (ILF), in cooperation with Deutsches Aktieninstitut e.V. (DAI), brought together leading scholars, lawyers and bankers, to assess the risks, opportunities and regulatory challenges that hedge funds present. At the time of the conference, German lawmakers were still discussing the need and possible content of a new law. The fruit of their discussions was the German Investment-Modernization Act (Investmentmodernisierungsgesetz), which entered into force on January 1, 2004, and increased the attractiveness of offering hedge fund products in the German market. This inaugural volume of the Institute for Law and Finance Series contains the proceedings of the ILF/DAI May 2003 conference entitled "Hedge Funds: Risks and Regulation," and presents papers discussing the economic characteristics of and regulatory strategies for addressing hedge funds. The first two papers examine hedge funds from an economic perspective. Alexander M. Ineichen, Managing Director and Global Head of AIS Research at UBS, reveals the economic reality of hedge funds from the myths that has surrounded them. Then Franklin R. Edwards, Professor and Director of the Center for the Study of Futures Markets of the Columbia Business School in New York explains how the regulation of hedge funds should be tailored to their core economic reality and the goals of financial stability and investor protection. Next, Marcia L. MacHarg, a partner of Debevoise & Plimpton LLP, Ashley Kovas, a Manager in the Business Standards Department of the Financial Services Authority, London, and Edgar Wallach, a partner of Hengeler Mueller, present the state of the relevant regulatory structures in the United States, the United Kingdom, and Germany, respectively. The book then closes with an analysis of corporate structures used for German hedge funds, offered by Kai-Uwe Steck, a member of the German Asset Management practice group of Shearman & Sterling LLP.

EUCOTAX (European UniversitiesCooperating on TAXes) is a networkof tax institutes currently consisting ofeleven universities: WirtschaftsuniversitatWien in Austria, KatholiekeUniversiteit Leuven in Belgium, Corvinus University of Budapest, Hungary, Universite Paris-I Pantheon-Sorbonne in France, UniversitatOsnabruck in Germany, Libera, UniversitaInternazionale di Studi Socialiin Rome (and Universita degli Studidi Bologna for the research part), in Italy, Fiscaal Instituut Tilburg atTilburg University in the Netherlands, Universidad de Barcelona in Spain, Uppsala University in Sweden, QueenMary and Westfi eld College at theUniversity of London in the UnitedKingdom, and Georgetown University inWashington DC, United States ofAmerica.

Foreign Direct Investment in Chile addresses all aspects of foreign direct investment in Chile and is very timely since the economy of Chile is growing at a rapid pace. It is considered to be a model in Latin America. In the past few years, foreign investment in Chile has been transformed into a highly significant macroeconomic variable. Indeed, the phenomenon of foreign investment has enticed companies from over sixty countries, representing all the continents. Without a doubt, the impact foreign investment has had on the country's economic development is significant. In December 1994, Chile was formally invited by the United States, Canada and Mexico to join the NAFTA. Negotiations leading to Chile's participation in the NAFTA are expected to begin in the near future. This development will clearly yield many benefits for Chile. First and foremost, this development, acting in concert with the political and economic stability of Chile, will serve as an impetus for more companies, particularly those of American origin, to invest in Chile. This book analyzes the national legal norms of Chile, offering a very useful perspective on the legal regulations of each sector of the economy in general, and on foreign investment in particular.

Litigator, teacher, and scholar Stephen Kohn presents a comprehensive, unified examination of the 35 federal laws that protect whistleblowers and their rights, plus the common law protections available in each of the 50 states. For the first time in one easily accessed volume, readers will find the basic principles upon which all whistleblower law is premised. Mr. Kohn lays out the basic legal principles applicable to almost every whistleblower case, such as the scope of protected activity and who qualifies for protection. He shows what constitutes discriminatory conduct, what type of evidence demonstrates that improper retaliation occurred, the burdens of proof on both the employee and employer, how to calculate damages and attorney fees, common settlement and fundamental procedural issues, and much more, all in meticulously documented detail and a readable, engaging style.

Built upon Mr. Kohn's extensive practical experience and his scholarly research and teaching, not only is the book an essential resource for study and analysis of whistleblowing issues, but it is also a step-by-step guide for conceptualizing and litigating them. Attorneys with specialties in a wide range of fields involving whistleblower law and related policy issues will find a thoughtful, comprehensive examination, and an immediately applicable courtroom aid. It will also be important for human resource executives, labor union officers and attorneys, government contractors, and recipients of government grants, university and government libraries, federal agency executives and specialists, public interest and good government organizations--and many others who have become fascinated by this relatively new, but long-time coming, branch of the law, how it developed, and how it is being applied today.

Law relating to trade in financial services is examined here, with a particular focus on the rules contained in Chapter 14 of the North American Free Trade Agreement (NAFTA). After a detailed analysis of the relevant provisions and their effect on financial institutions in Canada, Mexico, and the United States, the author examines the impact of the NAFTA rules on the legal position of banks operating in countries outside NAFTA, particularly in the context of the WTO financial services provisions. The book concludes with a chapter on the effects of a potential NAFTA expansion. The book aims to contribute to the development of a new legal and regulatory framework distinct from those of trade and financial services law, and offers an insight into how trade in financial services within a regional trade agreement develops its own legal dynamic.

From the start of the financial crisis in 2007, which turned into an economic crisis soon afterwards, it was obvious that public law could not prevent the genesis of this crisis although it has adequate instruments to make a reoccurrence of such a crisis unlikely. Financial law, tax law and even aspects of criminal law are designed to regulate the behaviour of financial institutions and other corporations. Since public law was unable to avoid the 2007 crisis, there can only be one conclusion: its instruments did not work properly or, worse, were badly designed or applied. Since 2007, a lot has been done from a financial, tax or criminal law point of view, confirming this finding. Regulation has thus been at the centre of the financial and legal debate, but a real understanding of the lessons of the crisis also requires account to be taken of private law. Is there a possible connection between private law and the outbreak of a financial and economic crisis? And did private law institutions, mechanisms or instruments in their current design contribute to the crisis? Does private law provide institutions, mechanisms and/or instruments which might have prevented the genesis of a financial or economic crisis? If so, why did these institutions, mechanisms and instruments fail to do so? And is there a need for new or modified instruments to improve the impact of private law on events that may lead to a new crisis? This thought-provoking book makes it clear that private law and the possibility of a financial and economic crisis are strongly intertwined. It shows that private law provides as many useful institutions, mechanisms and instruments against the emergence of such a crisis as public law does. Few other books bring together so many leading legal scholars on private law and its effects and implications. This book is rigorous, thoughtful, enlightening and thought-provoking - a must-read.

This "Liber Amicorum" is written in honour of Richard M. Buxbaum to celebrate his 70th birthday. It pays tribute to his writings, teachings, editorial and administrative work, which have contributed immensely to the development of the international legal order. The contributions are from international experts in the field of commercial and economic law, corporate law, intellectual property and business law, and give an interesting and valuable account of current economic trends and academic thinking.

This volume comprehensively reviews the new system of enterprise law being developed by the legal systems of the world to deal with the modern corporations, and considers its implications for international law and foreign relations law. It concludes with the very first discussion of the jurisprudential implications of this major legal development.

This analytical book examines how the common law of the employment contract is likely to evolve. Tracing the radical evolution of this area over the last 40 years, it explores how many of the changes in common law have been triggered by the judicial 'discovery' of the key attributes of the relationship. Douglas Brodie assesses how employment contract law is likely to develop, paying particular attention to wider developments of the law of obligations such as the recognition of the importance of fair dealing and the significance of relational contracts. Investigating the importance of how courts now regard the employment contract as governing personal relations, the author concludes that key attributes of the contract, including the imbalance of power between employee and employer, are likely to remain the key driver for change. The Future of the Employment Contract will be an essential read for students and scholars of employment law and the law of obligations. It will also be of benefit to legal practitioners as they look to frame innovative legal arguments.

From the larger field of women and employment law, Maschke has carved out a study that focuses exclusively on the impact Title VII of the 1964 Civil Rights Act has had on women workers. . . . Maschke focus es] on the history of women workers from the days of protective laws, through the difficult birth of the Equal Employment Opportunity Commission, to present-day struggles involving pregnant workers, sexual harassment, and comparable worth. Although legalistically oriented, the book is also attuned to the political in noting diverse strategies among women's organizations and the varying congressional and presidential commitments to the promotion of the equality of women's workers. . . . Concise and readable with a select bibliography and index. "Choice"

A major contribution to the literature on the legal rights of women workers, this volume combines empirical investigation and case law analysis to provide a thorough study of sex discrimination litigation under Title VII of the Civil Rights Act of 1964. As the author notes at the outset, Title VII, although not a panacea for sex discrimination, is the most important federal statute guaranteeing equality in the workplace for women workers. Her study examines how women have fared in Title VII litigation and how the Equal Employment Opportunity Commission (EEOC), as the government's enforcement agency, played a role in Title VII litigation and in the development of legal policy in this area.

Divided into three major sections, the volume begins by exploring the protective labor laws that restricted women's job opportunities at the turn of the century. Maschke goes on to trace the origins of Title VII and to examine the political controversy surrounding the use of litigation to enforce Title VII. The second section analyzes the development of law resulting from cases involving pregnancy discrimination, sexual harassment, wage discrimination, and protective policies. In addition to case law analysis, these chapters examine the EEOC's response to the issues and demonstrate that the agency has often been inconsistent in developing sex discrimination policies. In the final section, Maschke addresses group and EEOC litigation activities in sex discrimination cases, focusing on aspects of decision making in the federal courts. The concluding chapter considers how courts and the litigation process played a role in expanding the rights of women workers.