The implementation of the EU Prospectus Directive (2003/71/EC)(the ‘Directive’) has resulted in significant changesand new opportunities for many issuers of securities in theEuropean Capital Markets. The Directive and its subordinatelegislation, Commission Regulation (EC) No 809/2004 (the ‘EURegulation’) requires, as did the previous EU legislation,that a prospectus, containing certain required disclosure, beapproved by an EEA competent authority and published beforesecurities are offered to the public or admitted to an EEA-regulatedmarket. But, in doing so, it introduces important changes thatwill, its architects hope, result in a more active cross-borderretail market in securities within the EEA. These changes includea common language regime, under which, in cross-border situations,an English language version of the prospectus will normallybe valid for admission to regulated markets or a public offeranywhere in the EEA, thus avoiding expensive and time-consumingmultiple translations. It also provides . . . [Full Text of this Article]   1. Introduction2. French highlightsApproval of the prospectusScopeContent of prospectusesRisk factorsLanguageResponsibility for prospectusesPublicationInformation to be provided within prospectuses3. Summary   1. Introduction2. Scope of application of the securities Prospectus Act3. ‘Frequent issuer exemption’4. Publication rules5. Prospectus supplement and investor withdrawal right6. Summary   1. Introduction2. Implementation3. Competent authorityListing rules/prospectus rulesUnregulated offers4. Responsibility/liability5. Summary   1. Introduction2. Implementation3. National variations from the Directive4. Practical impact5. Summary   1. Introduction2. Regulatory framework3. Luxembourg Prospectus Directive options4. Public offers of securities5. Summary   1. Introduction2. Definition of ‘security’3. Concept of ‘offer’4. Supplemental prospectus and withdrawal rights5. Published prospectus identical to approved prospectus6. Six days rule7. Language8. Public offer exemption9. Summary   1. Introduction2. The RDL 53. The CNMV notice4. The RD 13105. The order 35376. Summary   1. Introduction2. Standardized prospectus content requirements3. The Official List of the FSA (the ‘Official List’)4. Official List eligibility requirements5. The Alternative Investment Market (‘AIM’)6. Withdrawal rights7. Draft prospectuses8. Qualified investor exemption9. Summary  相似文献   
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Public orchestration,social networks,and transnational environmental governance: Lessons from the aviation industry   总被引:1,自引:0,他引:1       下载免费PDF全文
Lasse Folke Henriksen  Stefano Ponte 《Regulation & Governance》2018,12(1):23-45
This article contributes to current debates on the potential and limitations of transnational environmental governance, addressing in particular the issue of how private and public regulation compete and/or reinforce each other – and with what results. One of the most influential approaches to emerge in recent years has been that of “orchestration.” But while recent discussions have focused on a narrow interpretation of orchestration as intermediation, we argue that there is analytical traction in studying orchestration as a combination of directive and facilitative tools. We also argue that a social network analytical perspective on orchestration can improve our understanding of how governments and international organizations can shape transnational environmental governance. Through a case study of aviation, we provide two contributions to these debates: first, we propose four analytical factors that facilitate the possible emergence of orchestration (issue visibility, interest alignment, issue scope, and regulatory fragmentation and uncertainty); and second, we argue that orchestrators are more likely to succeed when they employ two strategies: (i) they use a combination of directive and facilitative instruments, including the provision of feasible incentives for industry actors to change their behavior, backed up by regulation or a credible regulatory threat; and (ii) they are robustly embedded in, and involved in the formation of, the relevant transnational networks of actors and institutions that provide the infrastructure of governance. © 2017 JohnWiley & Sons Australia, Ltd  相似文献   
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The Arguments from Coherence: Analysis and Evaluation   总被引:1,自引:0,他引:1  
Bertea  Stefano 《Oxford Journal of Legal Studies》2005,25(3):369-391
In this article, the theory of argumentation set out by theDutch scholars Frans van Eemeren and Rob Grootendorst is broughtto bear in subjecting the general form of the argument fromcoherence to a critical analysis. First, a distinction is broughtout between two basic kinds of argument from coherence: in oneuse this argumentative structure occurs as a sequence of twoarguments establishing that a standpoint constitutes a particularinstantiation or a inherent quality of the system it will becomepart of (symptomatic argument); in the other use we have a mainsymptomatic argument supported by a subordinate argument appealingto instrumental considerations (pragmatic argument). It is thenclaimed that arguments from coherence are complex types of argumentation,structured at various argumentative levels, where the premisesmust be taken together to yield an adequate defence of the conclusion(coordinative argumentation). Finally, an evaluative assessmentis made as to whether arguments from coherence can serve acceptablyas tools for settling disputes: it will be maintained that wecan generally welcome these argumentative structures as soundand fully acceptable provided we are aware of the interpretivediscretion their use entails.  相似文献   
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While organized business is a key actor in regulatory politics, its influence is often conditional on the level of unity or conflict occurring within the business community at any given time. Most contemporary regulatory policy interventions put pressure on the normal mechanisms of business unity, as they are highly targeted and sector‐specific. This raises the question of how business unity operates across a highly variegated economic terrain in which costs are asymmetric and free‐riding incentives are high. In this paper, we empirically assess patterns of business unity within regulatory policymaking across different regulated sectors. Our analysis utilizes data from hundreds of regulatory policy proposals and business community reactions to them in the telecommunications, energy, agriculture, pharmaceutical, and financial sectors over a variety of institutional contexts. We find considerable empirical support for the “finance capital unity” hypothesis – the notion that the financial sector enjoys more business unity than other regulated sectors of the economy. When the financial sector is faced with new regulations, business groups from other sectors frequently come to its aid.  相似文献   
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ABSTRACT

The problem of cyberterrorism, despite its contested nature, is an important area of research. Scholars agree that the most dangerous targets for such attacks are critical infrastructure and organizations that are vital to society due to their interconnectedness to the modern world and their increasing reliance on the cyber domain for their operations. Thus, their security and protection against cyberterrorism is of elevated importance. Given the lack of documented cases of cyberterrorism, the purpose of this article is to simulate the threat of a terrorist act on a critical infrastructure, using a computer virus and to investigate how the individual behavior of employees affects security.  相似文献   
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Dr. Axel Gehringer HengelerMueller David Byers McCann FitzGerald, Solicitors, Dublin, Ireland Stefano Cuccia Head of Regulation, TLX, Milan Henri Wagner Allen and Overy, Luxembourg Petra Zijp NautaDutilh, Amsterdam José Manuel Cuenca and Yolanda Azanza Clifford Chance Daniel Bushner and Jonathan Parry Ashurst, London The first 150 words of the full text of this article appear below.
   Editor's Note    France    Germany    Ireland    Italy    Luxembourg    Netherlands    Spain    United Kingdom
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