This insightful book provides a comprehensive analysis of the interplay between EU financial regulation and civil liability. It explores this interrelationship in order to determine whether a coordinated approach has been adopted.   Examining EU law and the law of several current EU member states, one former EU member state, and the US, expert contributors consider the level of coordination between financial regulation and civil liability achieved throughout different sectors of financial services and activities, such as payments, credit, and securities, as well as among the various actors involved in public, private, and hybrid enforcement, such as courts, alternative dispute resolution bodies, and financial regulators. Distinguished scholars contribute a variety of perspectives, combining top-down and bottom-up legal comparative analysis, law and economics, and experimentalist governance, in order to outline directions for cross-sector and cross-actor coordination to develop more fully at EU and national level. In doing so, they highlight the need to fundamentally rethink the role of civil liability, and private law remedies more generally, as a regulatory and compensatory tool in European financial law.   Scholars across the fields of European and private law, financial regulation and economics will find this book to be an astute and engaging read. It will also prove an indispensable guide for practitioners working in financial regulation and private law throughout the EU and beyond.

Financial regulation has entered into a new era, as many foundational economic theories and policies supporting the existing infrastructure have been and are being questioned following the financial crisis. Goodhart et al s seminal monograph "Financial Regulation: Why, How and Where Now?" (Routledge:1998) took stock of the extent of financial innovation and the maturity of the financial services industry at that time, and mapped out a new regulatory roadmap. This book offers a timely exploration of the "Why, How and Where Now" of financial regulation in the aftermath of the crisis in order to map out the future trajectory of financial regulation in an age where financial stability is being emphasised as a key regulatory objective.

The book is split into four sections: the objectives and regulatory landscape of financial regulation; the regulatory regime for investor protection; the regulatory regime for financial institutional safety and soundness; and macro-prudential regulation. The discussion ranges from theoretical and policy perspectives to comprehensive and critical consideration of financial regulation in the specifics. The focus of the book is on the substantive regulation of the UK and the EU, as critical examination is made of the unravelling and the future of financial regulation with comparative insights offered where relevant especially from the US. Running throughout the book is consideration of the relationship between financial regulation, financial stability and the responsibility of various actors in governance.

This book offers an important contribution to continuing reflections on the role of financial regulation, market discipline and corporate responsibility in the financial sector, and upon the roles of regulatory authorities, markets and firms in ensuring the financial health and security of all in the future.

Financial regulation has entered into a new era, as many foundational economic theories and policies supporting the existing infrastructure have been and are being questioned following the financial crisis. Goodhart et al's seminal monograph "Financial Regulation: Why, How and Where Now?" (Routledge:1998) took stock of the extent of financial innovation and the maturity of the financial services industry at that time, and mapped out a new regulatory roadmap. This book offers a timely exploration of the "Why, How and Where Now" of financial regulation in the aftermath of the crisis in order to map out the future trajectory of financial regulation in an age where financial stability is being emphasised as a key regulatory objective. The book is split into four sections: the objectives and regulatory landscape of financial regulation; the regulatory regime for investor protection; the regulatory regime for financial institutional safety and soundness; and macro-prudential regulation. The discussion ranges from theoretical and policy perspectives to comprehensive and critical consideration of financial regulation in the specifics. The focus of the book is on the substantive regulation of the UK and the EU, as critical examination is made of the unravelling and the future of financial regulation with comparative insights offered where relevant especially from the US. Running throughout the book is consideration of the relationship between financial regulation, financial stability and the responsibility of various actors in governance. This book offers an important contribution to continuing reflections on the role of financial regulation, market discipline and corporate responsibility in the financial sector, and upon the roles of regulatory authorities, markets and firms in ensuring the financial health and security of all in the future.

This book conducts a comparative legal study from two analytical points of view. First, it accounts for the legal dimensions of the fight against poverty and the right to development as seen from the perspective of domestic legal law. It examines the domestic legal tools, such as constitutional law, that aim to contribute to the fight against poverty and the right to development. Second, the book accounts for the domestic contributions to the international legal framework and examines cross-cutting themes of the contemporary state-of-play on the fight against poverty more broadly and of the right to development. The book consists of several national and thematic reports, which look at these issues from either a national or a thematic perspective. Its first chapter is a general report, which draws on the national and thematic reports to compare, systematize and question the contemporary features at play within the field of the fight against poverty and the right to development.

The topic of this book is the external action of the EU within international economic law, with a special focus on investment law. The aim of the volume is to provide the reader with an appraisal of the most recent trends and developments that have characterised a field that has been rapidly evolving and in which the EU has imposed itself as a leading actor. The book is aimed at academics, practitioners and graduate students as well as at EU officials and judges, all of whom should find the subject matter discussed useful for keeping updated on a scholarly discussion of relevance to case law. Mads Andenas is Professor of Law at the Faculty of Law of the University of Oslo in Norway. Luca Pantaleo is Doctor of Law and Senior Lecturer in International and European Law at The Hague University of Applied Sciences in The Netherlands. Matthew Happold is Professor of Law at the Universite du Luxembourg in Luxembourg. Cristina Contartese is Lecturer in Law at the European Law and Governance School in Athens, Greece.

This book conducts a comparative legal study from two analytical points of view. First, it accounts for the legal dimensions of the fight against poverty and the right to development as seen from the perspective of domestic legal law. It examines the domestic legal tools, such as constitutional law, that aim to contribute to the fight against poverty and the right to development. Second, the book accounts for the domestic contributions to the international legal framework and examines cross-cutting themes of the contemporary state-of-play on the fight against poverty more broadly and of the right to development. The book consists of several national and thematic reports, which look at these issues from either a national or a thematic perspective. Its first chapter is a general report, which draws on the national and thematic reports to compare, systematize and question the contemporary features at play within the field of the fight against poverty and the right to development.

The topic of this book is the external action of the EU within international economic law, with a special focus on investment law. The aim of the volume is to provide the reader with an appraisal of the most recent trends and developments that have characterised a field that has been rapidly evolving and in which the EU has imposed itself as a leading actor. The book is aimed at academics, practitioners and graduate students as well as at EU officials and judges, all of whom should find the subject matter discussed useful for keeping updated on a scholarly discussion of relevance to case law. Mads Andenas is Professor of Law at the Faculty of Law of the University of Oslo in Norway. Luca Pantaleo is Doctor of Law and Senior Lecturer in International and European Law at The Hague University of Applied Sciences in The Netherlands. Matthew Happold is Professor of Law at the Universite du Luxembourg in Luxembourg. Cristina Contartese is Lecturer in Law at the European Law and Governance School in Athens, Greece.

The book analyses the institutions of the European financial market supervision and the challenges of financial markets. The current European supervisory structure for financial markets represents a major development in European supervisory history. Its operation however has to be explored and analysed critically. Has it gone far enough to provide a sufficiently comprehensive and resilient system to reduce or mitigate systemic risks and handle financial crises? Some claim it has gone too far already. Fresh and rigorous critical legal and economic analysis from an independent scholarly perspective are needed to assess whether the institutional design of the European supervisory architecture has proved itself to be an efficient and effective model. This book discusses many dimensions of the structure and workings of the European system from various angles providing different dimensions. The book makes an important contribution to the limited literature on financial market supervision.

The book analyses the institutions of the European financial market supervision and the challenges of financial markets. The current European supervisory structure for financial markets represents a major development in European supervisory history. Its operation however has to be explored and analysed critically. Has it gone far enough to provide a sufficiently comprehensive and resilient system to reduce or mitigate systemic risks and handle financial crises? Some claim it has gone too far already. Fresh and rigorous critical legal and economic analysis from an independent scholarly perspective are needed to assess whether the institutional design of the European supervisory architecture has proved itself to be an efficient and effective model. This book discusses many dimensions of the structure and workings of the European system from various angles providing different dimensions. The book makes an important contribution to the limited literature on financial market supervision.

Harmonized and uniform international laws are now being spread across different jurisdictions and fields of law, bringing with them an increasing body of scholarship on practical problems and theoretical dimensions. This comprehensive and insightful book focuses on the contributions to the development and understanding of the critical theory of harmonization. The contributing authors address a variety of different subjects concerned with harmonization and the application of legal rules resulting from harmonization efforts. This study is written by leading scholars engaged in different aspects of harmonization, and covers both regional harmonization within the EU and regional human rights treaties, as well as harmonization with international treaty obligations. With comparative analysis that contributes to the development of a more general theory on the harmonization process, this timely book will appeal to EU and international law scholars and practitioners, as well as those looking to future legal harmonization in other regions in Asia, Latin America and Africa. Contributors: O. Akseli, M. Andenas, C.B. Andersen, S. Andreadakis, Y. Arai-Takahashi, R. Ashcroft, H. Beale, G. Betlem, L.F. Del Duca, J. Devenney, M. Goldby, S. Gopalan, M. Heidemann, R.F. Henschel, I. Katsirea, M. Kenny, J. Kodo, A.H. Kritzer, E.J. Lohse, I. Maletic, J. Malinauskaite, G. McCormack, D. Nagel, A. Okwor, R. Pereira, D. Schiek, P. Syrpis, C. Twigg-Flesner, Q. Wu, H. Xanthaki, B. Zeller

This proceedings volume combines chapters derived from papers presented at the 4th and 5th Annual Conferences on the Future of the Commercial Contract in Scholarship and Law Reform. This ongoing research project brings together scholars from all over the world at an annual international conference in London. The book focusses on technology in commercial contract law as well as on sustainability in commercial contracts. The latter theme was inspired by the United Nations' climate conference that was to take place in Glasgow in the United Kingdom that same year. The book combines topical current issues in commercial contract law and practice organized in three parts. The first part contains contributions to the area of law and technology. The second part of the book expands on aspects of sustainability understood as environmental reasonableness in the context of commercial contracts. The third part includes several chapters on the topics of supervening events and contractual ethics. This book is therefore part of a coherent line of contributions to the furthering of modern contract theory. The choice of topics is closely following current issues of legal policy and contract practice.

Das Buch stellt in umfassender Weise die derzeitige Stellung des Privatrechts in Europa sowie die neuen Entwicklungen im Zuge der europ ischen Vereinheitlichung vor. Geschrieben von zwei herausragenden europ ischen Wissenschaftlern, bietet es mehr als nur ein Handbuch zum europ ischen Privatrecht. Es f hrt Leser ausf hrlich in die geistes- und kulturhistorischen Hintergr nde sowie in die Rechtstheorie der gegenw rtigen Privatrechtsvereinheitlichung und Modernisierung der rechtlichen Grundlagen des europ ischen Wirtschaftsverkehrs ein.

Designed to succeed previous books on the Maastricht and Amsterdam treaties, this new work includes contributions from leading EU lawyers assessing the Nice Treaty and the Post-Nice process, which is rapidly developing in the lead-up to the next Intergovernmental conference. The book's central theme is the discussion of a European Constitution and European Constitutionalism. The new constitutional balance after institutional reform, the Luxembourg courts after Nice, the future of the three pillar Treaty structure and the Human Rights charter are the other main topics. Among the contributors are the editors, Professor Stephen Weatherill (Oxford), Professor Noreen Burrows (Glasgow), Professor Jrgen Schwarze (Freiburg), Professor Paul Craig (Oxford), Professor Jo Shaw (Manchester) Steve Peers (Essex) Professor Piet Eeckhout (King's College, London) and Professor Alan Dashwood (Cambridge).

While the role of comparative law in the courts was previously only an exception, foreign sources are now increasingly becoming a source of law in regular use in supreme and constitutional courts. There is considerable variation between the practices of courts and the role of comparative law, and methods remain controversial. In the US, the issue has been one of intense public debate and it is still one of the major dividing issues in the discussion about the role of the courts. Contributing to the existing discussion of the use of comparative law in the courts, this book provides an inclusive, coherent, and practical analysis of the relevant law and jurisprudence in comparative law in the courts. It examines the consequences for court procedures and the form of judgments, as well as how foreign sources are drawn upon in private international law, European law, administrative law, and constitutional law as well as before general courts. The book also includes case studies of comparative law used in particular spheres of the law, such as tort law and consumer law. Written by practising judges and lawyers as well as leading academics, this book serves as a central reference point concerning the role of comparative law before the courts.

Fragmentation has been much discussed as a threat to international law as a legal system. This book contends that the fragmentation of international law is far exceeded by its convergence, as international bodies find ways to account for each other and the interactions of emerging sub-fields. Reasserting its role as the 'principal judicial organ of the United Nations', the International Court of Justice has ensured that the centre of international law can and does hold. This process has strengthened a trend towards the reunification of international law. In order to explore this process, this book looks at fragmentation and convergence from the point of view of the centre of the International Court and of the position of other courts and tribunals. Featuring contributions by leading international lawyers from a range of backgrounds, this volume proposes both a new take and the last word on the fragmentation debate in international law.

Despite the high hopes for EU-wide financial stability invested in the European Economic and Monetary Union, it is becoming more and more evident that the limited supervisory role of the European Central Bank has added to an already overcomplicated situation. Although European regulatory competences are now increasingly formalized through detailed rule making, they remain broad and widely discretionary. It is still the many different national authorities that are regulating or supervising banks and other financial institutions. The root issue what is the relationship between an effective European supervisor and the supervisory functions that remain at the Member State level has not yet been adequately addressed. Among the core issues of relevance analyzed in the book are the following: the increase in systemic risk that accompanies the introduction of the Euro; the inability of mere cooperation between national authorities to handle crises; the European Central Bank as an organizational model for the development of a single European regulator; the persistence of a traditional national character in surrounding areas of law such as contract law and company law; the heretofore intractable problem of the double burden of having to follow more than one set of national rules; and the apparent inertia of major business players, in spite of the obvious benefits for them of EU level regulation. Financial Markets in Europe offers a large and welcome measure of clear thinking to the entire professional community regulators, bankers, scholars, insurance professionals, securities managers engaged in the complex field of activity guided by monetary policy and supervision of financial markets. Becauseit raises broad issues and perspectives for a globalised world, it will be of value not only in Europe but to financial services specialists everywhere.

EU services law is an emerging area of scholarship of great practical importance. This book is the first major contribution to the analysis and the development of the right to provide services. It is authoritative and represents different views on many of the pressing problems of the area.

Should same-sex couples be permitted to marry? Or should a separate institution of "registered partnership" or "civil union" be created for them? Or should the rights and duties of unmarried different-sex couples be extended to them? Should they be allowed to adopt each other's children, or jointly adopt an unrelated child? How should they be treated with regard to employment, social security, pensions, housing, immigration, taxation, inheritance, and divorce? These questions are being debated around the world, as lesbian, gay, bisexual and transgendered persons increasingly (but not uniformly) insist that they cannot be truly equal without equal treatment for the loving and lasting relationships they form with their partners. In "Legal Recognition of Same-Sex Partnerships", an international team of scholars examines both theoretical issues and the wide variety of legal developments in the United States, Canada, Brazil, thirteen European countries, Israel, South Africa, India, Japan, China, Australia and New Zealand, as well as under European Community and European Convention law, and United Nations human rights law.

The essays in this third volume of "Developments in European Company Law" are concerned with conflicts of interest and duty in company law. The first part provides a legal analysis of the duties of company directors, of their accountability and of the trustee's perspective. A second part provides a socio-legal analysis and a third part an economic analysis. The essays provide important contributions to law reform and scholarly debate of these pressing issues of company law. The contributors include leading judges with an interest in the field and academics from the UK and Australia.

Lord Slynn of Hadley is one of the outstanding judges of his time. He has served as a High Court Judge, as an Advocate General and Owa Judge of the European Court of Justice, and he has been a Lord of Appeal for ten years. This Liber Amicorum bears testimony to the international reputation that he has achieved for his judgments and for his scholarship. In the many distinguished contributions, judges from international courts and from Supreme Courts and Constitutional Courts, together with academics from leading universities around the world, have taken the opportunity to celebrate the accomplishments of Lord Slynn's legal career thus far, and also to discuss areas of law where Lord Slynn can be expected to give important impulses to further development. The thirty years of the legal life of Lord Slynn of Hadley (Gordon Slynn as he is known to his friends) have seen remarkable developments and changes in the legal scenery, both domestic (British), and international. This book, by his friends, extends widely. Recollect that there is a separate volume covering the European Court of Justice, and yet there is enough in this publication to celebrate several separate careers. The reader will note that there are contributions from justices of eight Supreme Courts, plus the German Constitutional Court, the Conseil Constitutionel and the European Court of Human Rights, from ten universities, many of them multiple, together with famous institutions and individuals in many different fields. Even Lord Slynn's young lecturer interest in Air Law is reflected by a professional paper on the Law of Space. Many, if not most, of the contributions bear, appropriately, on the question of the role of courts in reviewing actions of the legislature and the executive, but there are also articles to attract other diverse specialists, several, no doubt to Lord Slynn's pleasure, provocative and forward-looking. Lord Slynn is happily still in office, so this is really a "Festschrift" of celebration.

This book is the outcome of a research seminar with the title of "Delegation of Legislative Powers in the European Community: the Role of Committees" that was held in London on 16th and 17th January 1998. The seminar brought together academics from political and legal science in different countries of the European Community in order to provide as diverse as possible a set of perspectives on the topic. This interdisciplinary approach is also reflected in the book. Some of the chapters of the book are based on papers delivered in the seminar. The first part of the book is primarily devoted to a political science perspective on comitology and provides a general theoretical framework. The second part is concerned with a normative analysis in a legal tradition of the issue of delegation of legislative powers. The aim here is to explore to what extent the national concepts and institutes of delegation of powers can contribute to a better understanding of the Community concept of delegation. The third part of the book concerns the institutional perspective and deals with the history of comitology and the role of the Court of Justice in the development of the system. The fourth and final part of the book examines various areas of EC law, including environmental law, product safety and other areas.

This text draws together contributions of leading international legal scholars respecting major themes of the future of international law in the 21st century. The papers have been collected in honour of the late Professor Kenneth R. Simmonds, former Director of the British Institute of International and Comparative Law and Professor of Law at Queen Mary and Westfield College, University of London. The book is divided into three parts: public international law; international dispute resolution; and European and other regional integration, which constitute the important themes and currents in contemporary international law. The sections also represent the areas that were of personal interest to Professor Simmonds and in which he was a leading contributor until his death.

This volume is comprised of a collection of papers dealing with various aspects of cross-border secured transactions, an important issue in the development of emerging financial markets and transitional market economies. A sound legal framework for lenders to effect and enforce secured transactions is called for in order to establish an investor-friendly climate. Special attention is paid to the EBRD Model Law on secured transactions, the UNCITRAL Draft Convention on Assignment in Receivables Financing, and the UNIDROIT model. The papers stress the importance to the transition process of the development of a modern framework for secured transactions.

While the role of comparative law in the courts was previously only an exception, foreign sources are now increasingly becoming a source of law in regular use in supreme and constitutional courts. There is considerable variation between the practices of courts and the role of comparative law, and methods remain controversial. In the US, the issue has been one of intense public debate and it is still one of the major dividing issues in the discussion about the role of the courts. Contributing to the existing discussion of the use of comparative law in the courts, this book provides an inclusive, coherent, and practical analysis of the relevant law and jurisprudence in comparative law in the courts. It examines the consequences for court procedures and the form of judgments, as well as how foreign sources are drawn upon in private international law, European law, administrative law, and constitutional law as well as before general courts. The book also includes case studies of comparative law used in particular spheres of the law, such as tort law and consumer law. Written by practising judges and lawyers as well as leading academics, this book serves as a central reference point concerning the role of comparative law before the courts.

Fragmentation has been much discussed as a threat to international law as a legal system. This book contends that the fragmentation of international law is far exceeded by its convergence, as international bodies find ways to account for each other and the interactions of emerging sub-fields. Reasserting its role as the 'principal judicial organ of the United Nations', the International Court of Justice has ensured that the centre of international law can and does hold. This process has strengthened a trend towards the reunification of international law. In order to explore this process, this book looks at fragmentation and convergence from the point of view of the centre of the International Court and of the position of other courts and tribunals. Featuring contributions by leading international lawyers from a range of backgrounds, this volume proposes both a new take and the last word on the fragmentation debate in international law.