The implementation of the EU Prospectus Directive - a country-by-country analysis

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.

招股说明书要约性质研究——兼论缔约前陈述与保证法律化

招股说明书是具有法律约束力的意思表示,其内容、格式和披露程序具有法定性,其性质为要约,这一定位也已经成为国际证券法立法实践中的一个重要惯例。要约本质性在于合同主体作出的允诺。在合同缔结中,法律强制将当事人事实陈述与保证纳入合同条款,成为目前国际法律实践中的重要通例。     

欧盟"版权指令"述评

1996年 1 2月 ,世界知识产权组织主持的外交会议缔结了《世界知识产权组织版权条约》(ＷＣＴ)和《世界知识产权组织表演和录音制品条约》(ＷＰＰＴ)。随后 ,欧共体即开始制定实施上述两个条约的指令。 1 997年 1 2月 1 0日 ,欧盟委员会 (也即欧共体委员会 )向欧盟议会和欧盟理事会提出了《关于协调信息社会中版权与相关权某些方面的指令建议》 ,简称“版权指令草案”。〔 1〕其中的“信息社会” ,在欧盟的相关词汇中就是指国际互联网。〔 2〕因此 ,这是一个有关网络环境中版权与相关权保护的指令草案。欧盟议会在详细审议了“版权指令草案”…     

'Piracy' provisions under the Enforcement Directive and patent infringement

The Court of Genoa has issued its first decision on the applicationto patent infringement of the remedies introduced by Directive2004/48 on the Enforcement of Intellectual Property Rights,dismissing the appeal filed by Princo against a precautionaryseizure order over its movable and immovable property issuedby a judge of the Genoa IP Chamber on the grounds that the patentinfringement was committed intentionally and on a commercialscale.     

Genetic testing and employee protection

Given advances in the science of genetics it is increasingly possible for individuals to acquire an increased understanding about their DNA. Employers may wish to access such information or may request that employees participate in genetic testing. An examination of the UK legislative framework to accommodate or to prevent such demands raises concern about the need to balance the employer's economic interests and the autonomy of the employee.     

德国《交易所法》关于上市公司的上市申请材料不实陈述之民事责任介绍

中国资本市场的形成严格来讲,应该上溯到19世纪末期,当时的清王朝对外负有大量赔款,政府财政赤字相当严重,不得不向西方列强借款。西方各国的大银行机构借贷款之机纷纷进入中国市场,如英国汇丰银行,美国花旗银行,德国德意志银行等金融机构相继在中国上海设立分行或办事处。在西方资本进入中国的影响下,北京和上海等地开始产生了古老中国的新生事物———资本市场。20世纪初的民国政府也曾经参考外国法律相应制订了交易所法和公司法,而且上海证券交易所也制订了比较详细的交易所条例。但资本市场对国民经济的发展意义不大。1949年新中国成立…     

Workplace justice and employee worth

Distributive and procedural justice gain new meaning in light of other distinctions about how organizations value employees (the employees' “worth”). Fair compensation gives employees worth as achieved status: how the employee is like some employees (similarly rewarded) and not like others (dissimilarly rewarded). But employees also want to be treated uniquely as individuals and in other ways to be treated like all other employees, both reflecting worth as ascribed status. Such worth need not involve the distribution of outcomes; it can be gained if procedures function as ends in themselves. Different types of worth thus become the source of different criteria for justice. Based on a paper entitled “Justice as Worth,” which was prepared for the Third International Conference on Social Justice research (held in the Netherlands during July 1991).     

论检察指令权的实体规制

检察改革的核心问题是检察指令权的规制问题。应当明确我国检察指令权的适用条件、界限及其效力,即应将便宜主义下需要统一裁量基准的、需要统一法律解释的、需要提升检察效能的以及需要避免检察官误断或者滥权的事由作为适用检察指令权的积极事由;而将法定主义、检察官客观义务、证据评价、法律确信以及诫命规定与合法性义务作为我国检察指令权不可逾越的界限;此外,还应明确我国的检察指令仅具有柔性效力,并基于审批型检察指令和非审批型检察指令的区分而采取不同的改革路径以弱化我国检察指令的刚性效力。     

浅议法理学更新的几个方向性问题

法理学创新是我国法理学面临的重要课题。为了使法理学创新结出具有先进性、科学性之成果 ,应当解决好几个方向性问题。     

The implementation in England and Wales of the European Enforcement Directive

Legal context. The background to the EU Enforcement Directive(2004) and its implementation in England and Wales by legislativeand procedural changes taking effect in April 2006. Key points. Although much of the Directive required no implementation,there are doubts as to whether the implementing provisions gofar enough, particularly in respect of the rights of actionof representative bodies. Many of the provisions which havebeen made are cosmetic, but there are some significant changes.New evidential presumptions have been introduced in actionsin respect of publication right and rights in performances (althoughthe latter may not go far enough). Defendants may now be requiredto supply interim guarantees instead of submitting to interiminjunctions. Remedies in the design field have been clarified.By contrast, the rules as to damages in the IP field have beenmade more obscure by the implementation of Article 13 of theDirective. Finally, the courts may now make orders for the disseminationof decisions although quite what form these will take remainsto be seen. Practical significance. The changes are procedural not substantive,but they create important new opportunities for claimants andnew threats for defendants. Any parties and potential partiesto IP litigation in England and Wales therefore need to be awareof them.     

最新欧盟消费者权益指令的解读与借鉴

2011年10月25日,欧盟颁布了编号为2011/83/EU的消费者权益保护的最新指令。该指令主要规定了经营者向消费者提供信息的义务,以及消费者撤销合同的权利,这些规定反映了欧盟消费者权益保护法上的信息透明、利益均衡和私权救济的立法精神。我国《消费者权益保护法》制定于1993年,到如今我国社会经济生活发生了很大变化,很多内容已经不能满足今天的消费者权益保护之需。欧盟最新的消费者权益保护指令对完善我国《消费者权益保护法》具有很好的借鉴意义。     

论定作人的指示过失责任

定作人指示过失责任是《人身损害赔偿司法解释》新规定的一种侵权责任形态,其对《民法通则》关于“侵权的民事责任”的规定是一种积极的补充和完善,对我国特殊侵权行为体系的构建和民法典的制定具有重要的创新价值。但定作人指示过失责任是替代责任抑或连带责任,还是替代责任与连带责任兼而有之,以及定作人对其过失承担责任的具体分配,在现行法律和最高法院的司法解释中均未明确,在理论上也颇有争议,本文拟就上述问题进行探究。     

欧盟证券强制要约收购规则及其启示

以2004年5月20日生效的《欧盟要约收购指令》为基础,对欧盟及其各成员国有关强制要约收购的临界点、强制要约收购的价格以及强制要约收购的豁免制度进行重点研究,并对如何完善我国上市公司强制要约收购制度作一探讨。该指令的研究对完善我国证券法律制度具有重要的现实意义。     

Research with minors in Greece and the EU Directive on clinical trials

This article describes the legal rules for research with minors in Greece in relation to the EU Directive on clinical trials and the Greek Code of Medical Ethics.     

Disclosure practices under the EU Prospectus Directive and the role of CESR

The first 150 words of the full text of this article appear below. Key points

• In February 2005, CESR issued its Recommendationsfor the consistent implementation of the Prospectus Regulation.
• SinceJuly 2006, CESR has begun to develop a line of clarificationson disclosure practices under the Prospectus Directive and theProspectus Regulation in the form of common positions basedon Frequently Asked Questions (FAQs).
• This article first analysesthe question to which extent CESR's Recommendations and commonpositions have binding effect, in the sense that individualnational securities regulators are under some form of obligationto apply these.
• Subsequently, the article discusses a selectionof CESR's common positions on FAQs which are of material importancefor day-to-day disclosure practice.