This work presents a critical analysis and evaluation of the Korean banking regulatory and supervisory system. It identifies the continuing structural weaknesses of the system, which were thrown into sharp relief by the 1997 financial crisis, and focuses on the need for reform in order to achieve financial stability. The study centres around three central questions: who should be the regulator; what substantive standards of supervision should be applied; and administratively, in what manner should these standards be applied? The author argues that the Korean banking system, characterized as a "governmental control system" for credit allocation, should be released from undue governmental and political interference, thus allowing the involvement of banks in commercially oriented practices without exposure to the significant risks incurred by governmental policy directed lending. The author calls for a high degree of transparency and accountability, for a clear, realistic timetable for restructuring, and for an effective exit policy for troubled commercial banks. This text should be of value to practitioners, researchers and academics working in the field of banking law, particularly those with a special interest in the Asia-Pacific region.

This book examines the domestic and international dimensions of European Union (EU) competition policy, particularly mergers, anti-competitive practices and state aids. The authors argue that important changes in EU competition policy are having profound effects on the global political economy, and these changes are best understood as European Commission responses to new domestic and international pressures. Using a two-level game analytical framework that is both intra-EU and global in scope, Damro and Guay investigate a wide variety of domestic and foreign public and private actors that interact in crucial ways to determine the development and implementation of EU competition policy. They address this broad question: In what ways do changing external and internal factors affect the evolution of the EU's competition policy and the role that the Commission plays in it? Among the conclusions is that the EU - and particularly the European Commission - has become a leading global regulator.

One of the major objectives of tax treaties has been the avoidance of international double taxation. This is generally accomplished through the agreement of each country to limit, in specified situations set out in double tax treaties, its right to tax income earned from its territory by residents of another country. The OECD Model Tax Treaty, other model conventions, and the bilateral treaties drafted in accordance with these models, allocate the taxing rights between the state of source and the state of residence. The source rules for income taxation are determined by Articles 6 through 21 of the OECD Model Convention. These rules are the product of a rather long history and it seems difficult to justify the scope of some in today's world. Courts, tax administrators, and practitioners are confronted with a growing number of interpretation and application problems. In a globalized world with ever-increasing cross-border streams of income such problems command more and more attention. This book is designed to analyze the allocation rules of the OECD Model Tax Convention and its equivalents in bilateral tax treaties. The distinguished contributors to the work examine the justification for these rules - as well as their scope - and highlight the most relevant interpretation and attendant application problems. In addition they'll suggest how such rules should be modified and examine possible alternatives.

Third countries are not bound by European law; however, saying that EU Member States are not bound by European law in their relations with third countries would be incorrect. The judicial developments of European tax law based on the application of fundamental freedoms by the European Court of Justice has turned relations with third countries into one of the most controversial areas of European tax law, giving rise to a significant degree of legal uncertainty. The first waves of direct tax cases decided by the ECJ on the relations with third countries have not entirely solved the main critical issues arising in such context, including the ones involving the external scope of fundamental freedoms. Consequently, the expert analysis contained in this book will be of significant interest to many international tax practitioners and academics throughout the world.
Among the vitally important areas this book addresses...
- The external scope of Article 56 EC Treaty and its impact on the relations with third countries
- The indirect impact of other fundamental freedoms on the relations with third countries
- The scope of fundamental freedoms in relations to EEA States under the EEA Agreement
- The relations with other third countries in the field of direct taxes (including, among other, EPAs countries)
- The impact of the EU agreements on the direct tax relations between Switzerland and the EU Member States
- The impact of secondary EC law on the relations with third countries in the field of direct taxes
- The scope of Article 307 EC Treaty and its application in the field of direct taxes
- The external treaty making powers of the European Union in the field ofdirect taxes.

The case of the Bank of Credit and Commerce International (BCCI) illustrated the many existing gaps in the international rules and standards governing bank supervision. This book deals with these rules and advocates how they should develop. It is based on the thesis that the rules essentially "percolate" from the national, regional and international levels and that these areas have become integrally interconnected. The book concludes with proposals suggesting ways of better interconnecting the national, regional and international levels through more formal, legalistic and transparent structures. The work is aimed at the financial institutions community, legal practitioners and academics. This is the third volume of a series which has been designed to provide a broad foundation for comparative analysis of changes and reforms occurring worldwide in international banking regulation and practice. It should prove a valuable tool in the comprehension of both policies and practicalities reflected by these rapid changes and reforms.

This is a study of a progressive law firm and its three partners. The firm was founded in 1936 and existed until the death of one partner in 1965. The partners were harassed by the FBI primarily for defending labor union members and leaders and the defense of both. The firm's primary client was Harry Bridges, the long term President on the International Longshoreman's and Warehouseman's Union (ILWU). The irony was that the more the FBI persecuted labor unions, the more business the firm had from those harassed by the FBI. During this time the FBI was primarily interested in controlling the Communist Party. While the clients of the firm were sometimes Communists, the law partners were not Communist Party members. In both of these ways the FBI was wasting its time in persecuting this firm. Although the primary data used involved existing records (for example all of the partners had extensive FBI files), we also interviewed colleagues and relatives of the partners.

This edited volume focuses on specific, crucially important structural measures that foster corporate change, namely cross-border mergers. Such cross-border transactions play a key role in business reality, economic theory and corporate, financial and capital markets law. Since the adoption of the Cross-border Mergers Directive, these mergers have been regulated by specific legal provisions in EU member states. This book analyzes various aspects of the directive, closely examining this harmonized area of EU company law and critically evaluating cross-border mergers as a method of corporate restructuring in order to gain insights into their fundamental mechanisms. It comprehensively discusses the practicalities of EU harmonization of cross-border mergers, linking it to corporate restructuring in general, while also taking the transposition of the directive into account. Exploring specific angles of the Cross-border Mergers Directive in the light of European and national company law, the book is divided into three sections: the first section focuses on EU and comparative aspects of the Cross-border Mergers Directive, while the second examines the interaction of the directive with other areas of law (capital markets law, competition law, employment law, tax law, civil procedure). Lastly, the third section describes the various member states' experiences of implementing the Cross-border Mergers Directive.

This text evolved out of a series of fiscal studies prepared by a team from Harvard University of which the author was the director. It analyses the many constraints and economic characteristics found in low-income countries that affect the type of modern tax system that can work in these countries. It specifically looks at Nepal and reengineering the tax system there in terms of policy and administration.

This volume contains the national reports and the general report on the topic of corporate takeovers through the public markets, as presented at the XIVth Congress of the International Academy of Comparative Law held in Athens, Greece, between 31 July and 6 August 1994. The main aim of the report is to study public market transactions, with particular emphasis on policy. It presents a compilation and examination of the key issues relating to corporate takeovers worldwide and provides information and policy analysis for the scholar as well as for the legislator and the legal practitioner. The national reports cover the following countries: Argentina, Australia, Canada, Finland, France, Germany, Greece, Israel, Italy, Japan, Sweden, United Kingdom, United States of America, Venezuela and Yugoslavia.

For one- or two-semester undergraduate courses in Business Law Take students beyond rote memorization and into true understanding of the concepts and their implications. This motivating, up-to-date text presents business law, ethics, and the legal environment in a way that intrigues students, spurs them to ask questions, and takes them beyond rote memorization as they learn the issues and concepts. With its emphasis on covering online law and e-commerce as key parts of the legal environment-as well as today's social, ethical, and international issues that are important to the study of business law-it's the ideal text for your one- or two-semester undergraduate course in Business Law. This text provides a better teaching and learning experience-for you and your students. Here's how: *Tailor the material to your specific course with the Custom Database option. *Draw students into the material with a rich selection of cases. *Address issues critical to the field of business law today.

This book brings together a number of contributions examining how changes associated with economic globalization have contributed to the creation of new pressures on, and expectations of, those fields of law connected to the regulation of cross-border commercial transactions. These new demands of law - in particular, that it be more agile or "flexible" in regulating the economy - have prompted lawmakers and regulators in multiple jurisdictions to adopt a range of new regulatory techniques and legal forms to respond to this challenge. In many cases, these adaptations in law have entailed compromising traditional legal principles, such as legal certainty, in favor of empowering regulators with greater discretion than has traditionally been permitted in modern law. This change raises important questions about the meaning of fairness (certainty or flexibility), as well as the relationship between the public and private good.

In their book Interactive Corporate Compliance, Jay Sigler and Joseph Murphy proposed a system in which government scrutiny of business is reduced in return for self-regulatory vigilance. In this follow-up collection of essays, Sigler and Murphy seek to meet the challenge of putting such a policy into practice. A series of essays detail a variety of suggestions for implementing such a system, as well as some forms of interactive compliance already in use.

A brief foreword by John Braithwaite is followed by a chapter in which the editors fully explain the compliance approach to business-government relationships. Subsequent contributions include Attorney General Robert Abrams' three-part strategy for corporate compliance, a proposed legal standard to reward corporate due diligence in implementing codes of conduct, accounts of different experiments with interactive compliance in the United States, and a case study using interactive compliance to regulate restaurant health standards. Among the other topics discussed are programs that confront middle managers with corporate criminals, the educational failings of law and business schools, and insights into why negotiated compliance delivers better outcomes at lower costs. The volume concludes with predictions for corporate conduct in the 1990s. With its innovative approach to government-business relations, this work will be an important resource for professionals in all types of business, government, and legal positions.

The ICC Rules of Arbitration constitute one of the world's oldest and most widely used sets of rules for the resolution of international commercial disputes. In 1998, shortly after the entry into force of the current version of the Rules, the First Edition of this book appeared and quickly became an indispensable resource for all those involved or interested in ICC arbitrations, including arbitrators, counsel, and parties. In this updated and revised edition, the authors two of the world's leading experts on ICC arbitration have revised the Guide in order to take stock not only of the evolution in ICC practice over the last seven years, but of new arbitral and judicial decisions bearing on the interpretation and application of the Rules and of developments in international arbitration practice generally. The Guide s notable features include: article-by-article commentary on the ICC Rules, enriched by the authors personal involvement in their drafting and years of experience as arbitrators, counsel, and former Secretaries General of the ICC International Court of Arbitration; ample and greatly expanded references, in respect of the Rules individual provisions, to relevant national court judgments and arbitral awards, together with extensive bibliographical sources; and up-to-date statistics on ICC arbitration and copies of all ICC rules on dispute resolution mechanisms in addition to arbitration. A truly comprehensive reference work on ICC arbitration practice, the Second Edition of the Guide will be of immeasurable value to corporate counsel, international lawyers, and business people, as well as to all those interested in the international arbitration process.

With the development of new and more complex forms of business organization, such as multinationals or corporate groups, the question arose as to whether they could still be regarded as a single legal entity. How should the issue of company liability, for instance, be regarded when dealing with the different subsidiary groups of one large enterprise? The question of company liability with regard to multinationals and corporate groups forms one of the central themes of this work, and one which should interest all those active in today's business world.

Banks, Bankers, and Bankruptcies Under Crisis uses case studies of failed banks, banks that would have failed without taxpayer intervention, and in some cases banks obliged to merge under government pressure, to better understand global banking today.

This study explores the regulation of occupational health in the British asbestos industry from the recognition in the late 1890s that asbestos dust might pose a health hazard until the establishment of the 1969 Asbestos regulations. Whereas almost all of those who have written on this subject have attacked the entire asbestos industry and all its works, The Way from Dusty Death takes a more balanced view. It accepts the history of asbestos and health as in many ways a human tragedy, but it rejects simplistic, universalised arguments that this has been a tragedy with a cast only of villains, dupes and victims. The historical account includes the emergence of medical, and then official, concern about the three diseases related to asbestos (asbestosis, lung cancer and mesothelioma) the legislative process during and after the 1930s and the impact of the 1931 Asbestos Industry Regulations. The book brings together much previously unexamined material - including copious government records, combined with unimpeded access to the vast archive of documents kept by the leading British asbestos manufacturer, Turner and Newall - to present a unique analysis of occupational health and its regulation in the 20th Century.

Tillmann C. Lauk discusses law-making at the European level and argues that problems with EU legislation, banking regulation and currency debasement are due to a lack of democratic control. He insists on the need for radical reform both of banking and of international money and makes an important contribution to the debate on the future of finance.

The main objectives of this book are to expose key aspects that have a relevance when dealing with open data viewed from different perspectives and to provide appealing examples of how open data is implemented worldwide. The concept of open data as we know it today is the result of many different initiatives, both of a legislative and non-legislative nature, and promoted by a wide range of actors. Numerous regulatory antecedents to foster the concept of open data and embed it in national and international policy agendas have been undertaken on both sides of the Atlantic, as well as at a supranational level. The book highlights a number of the efforts made to promote open data in Europe, Asia and the United States. In addition to new insights, practical guidance and multiple disciplinary perspectives on open data, the book also addresses the transformation of current developments towards open data, which may be referred to as the democratisation of data. This book will support open data practitioners as well as open data scholars in their endeavours to promote open data implementation and research. Bastiaan van Loenen is associate professor and director of the Knowledge Centre Open Data at the Faculty of Architecture and The Built Environment of Delft University of Technology in the Netherlands, as is Glenn Vancauwenberghe, who is a post-doctoral researcher, and Joep Crompvoets is a professor at the Public Governance Institute of the KU Leuven in Belgium.

The impact of the European Community and European Community law on taxation is becoming increasingly important. EC law influences not only national tax law but also tax treaties. This book focuses on the question of whether anti-abuse provisions in tax treaties may be in conflict with EC law, especially the fundamental freedoms contained in the EC Treaty. This issue is dealt with from the perspective of Austria, France, Germany, Italy, The Netherlands, Spain and the United Kingdom. Though most problems arise with regard to the limitation on benefits clauses contained in the tax treaties concluded between EC Member States and the United States, the book also addresses the compatibility with EC law of other anti-abuse clauses and assesses the consequences of a possible conflict. EUCOTAX (European Universities Cooperating on Taxes) is a network of fiscal institutes of European universities - nine in 1998. This network aims at initiating and co-ordinating both comparative education and comparative research on taxation. The comparative education is structured by various means, e.g. organizing winter courses and guest lectures. Comparative research is realised by means of joint research projects, international conferences and exchange of researchers from various countries.

New developments in legislation have increased the availability of employment. These advances result in long-term improvement of economic and sustainable development. Employment Protection Legislation in Emerging Economies is a critical scholarly resource that examines legislation relating to employment protection in developing economies and its impacts on unemployment, job creation, productivity, and the efficiency of the labor market. Featuring coverage on a broad range of topics, such as labor reform, job creation, and the social protection agenda, this book is geared towards academicians, practitioners, and researchers seeking current research on legislation relating to employment protection.

It has been clear for some time that commercial law has been undergoing a "transnationalization" process, with various sets of rules (often referred to collectively as Lex mercatoria or the New Law Merchant) supplanting national and local laws governing the mechanisms by which cross-border agreements are entered into and disputes settled. In order to clarify the nature and extent of this process, a scientific survey, sponsored by the Volkswagen Foundation and using empirical methodology, was designed by a Research Team from the Centre for Transnational Law (CENTRAL) of Munster University, Germany. A questionnaire was sent out to more than 2,700 practitioners from major companies and international law firms in 78 countries asking for the addressees' experience with transnational law in international contract negotiations, contract drafting, and international commercial arbitration. The results of this enquiry, along with analysis and commentary from several well-known authorities in the fields of international commercial arbitration and private international law, were presented at a conference in Munster on May 4 and 5, 2000. This book is a record of that conference. "The Practice of Transnational Law" provides a comprehensive and realistic evaluation of how transnational commercial law is used in international legal practice today. The contributions of the speakers - including Yves Derains on the CC Arbitration Rules and Michael Joachim Bonell on the UNIDROIT Principles, as well as commentary by Emmanuel Gaillard, Friedrich K. Juenger, Norbert Horn, and Klaus Peter Berger - add an insightful and lively dimension to the empirical data presented in the annexes. Commercial law practitioners and business people all over the world should appreciate the new level of discussion initiated by this book.