The evolution of regulatory enforcement action in the UK capital markets: a case of 'less is more'?

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

• Formal enforcement action is a relatively rare occurrencewithin the UK capital markets regulatory framework. This characteristicdistinguishes the UK from the US, where there is a more intensefocus on enforcement, both public and private.
• Several featuresof the UK regulatory system contribute towards a low incidenceof enforcement. Some of these features are embedded in the statutoryframework, but the FSA has played a key role in the developmentof enforcement policy, while the continuing presence of self-regulationin the form of the Combined Code has also played a part.
• Thefocus on risk-based regulation in the UK has been a major influencefor enforcement policy. The move to more principles-based regulationhas also been a factor but one that is more difficult to interpret.If it is correct to assume that principles-based regulationdoes not affect the intensity of regulation, then the effecton the . . . [Full Text of this Article]

 

Party affiliation and support for capital punishment: An assessment of lawmakers from Canada and the United States

This article assesses the attitudes supporting capital punishment among lawmakers from two democratic countries — Canada and the United States. Accordingly, data were collected from three different populations responsible for legislating law either permitting or prohibiting the use of capital punishment in their respective jurisdictions — the Canadian House of Commons and the Michigan and Ohio state legislatures. These data were used to assess two general hypotheses: (1) Conservative parties will report higher levels of support for capital punishment; and, (2) Individual members from liberal political parties will report lower levels of support for capital punishment when compared to members of more conservative parties. The research findings supported both hypotheses.     

美中商业秘密内涵的思考

从美国商业秘密法的发展来看,商业秘密的内涵呈现出从秘密性、实用性至秘密性、价值性和管理性再至秘密性和价值性的一个变化过程,而我国有关法律及规定明确认为商业秘密在内涵上需要具备秘密性、实用性、价值性和管理性四个构成要件。从两国的规定看,两国对商业秘密内涵的理解在新颖性、实用性、管理性三个方面存在较大分歧。     

中美认罪协商制度之比较

认罪协商在我国主要体现在认罪认罚从宽制度中,在美国主要蕴含在辩诉交易中。中美认罪协商制度在价值追求、自愿性保障和被害人利益保护方面具有相似性,但在协商主体、协商内容、协商效力、证明标准、撤回认罪以及被告人上诉权等方面存在差异。我国可以从适度降低认罪认罚案件的证明标准、明确撤回认罪的法律规定和适度限制被告人的上诉权等方面,借鉴美国辩诉交易的有益经验,进一步完善我国的认罪认罚从宽制度。     

Criminal insanity in 19th-century Ireland,Europe and the United States: Cases,contexts and controversies

The insanity defence has a lengthy, complex history. This article provides a concise, comparative background to the evolution of criminal insanity legislation and institutions for the mentally ill in the nineteenth century, with particular reference to Ireland and the United States. Three key themes are identified and explored: (a) the emergence of the insanity defence in the nineteenth century (e.g. the McNaughtan Rules); (b) conditions in nineteenth-century asylums and institutions for the ‘criminally insane’ (with particular reference to overcrowding, physical illness and asylum deaths); and (c) nineteenth-century considerations of criminal responsibility in women with mental illness (with particular reference to medical and judicial views of the relevance of menstruation, pregnancy and child-birth). These themes are explored through review of historical literature (with particular reference to the work of Dr. Isaac Ray, founding father of forensic psychiatry in the United States) and examination of previously unpublished archival material from the Central Criminal Lunatic Asylum, Dublin.     

Physicians' conflicts of interest in Japan and the United States: lessons for the United States

Japanese health policy shows that even with physician ownership and the absence of for-profit, investor-owned health care, physicians' conflicts of interest thrive. Physician dispensing of drugs and ownership of hospitals and clinics were justified in Japan as ways to avoid commercialization of medicine. Instead, they create physicians' conflicts and fuel patient overuse of services. Japan's Ministry of Health and Welfare (MHW) has responded by introducing per-diem payment, thereby creating incentives to decrease services in ways similar to those of American managed care organizations, but with none of their benefits, such as coordination of care, oversight of physicians practices, and quality assurance. Although the United States and Japanese health care systems are organized and financed differently there is convergence in the source of their physicians' conflicts and the way they are addressed. The United States is starting to integrate institutional and physician payment and align their incentives, in a traditional Japanese way. In so doing, the United States creates new physicians' conflicts and reduces the role of countervailing incentives and power, an advantage of previous policy. Japan, in turn, has combined incentives to increase and decrease services, thus moving closer to the U.S. policy.     

The battle over global drug markets: enforcement of pharmaceutical patents in the United States, Europe and Japan

Legal context: Pharmaceutical patent litigation is on the rise. The focal pointof this increasingly contentious area of litigation is the surgein pharmaceutical patent challenges mounted by generic drugmanufacturers. Pharmaceutical companies need to identify viableenforcement strategies that can survive these challenges andeffectively manage the life cycle of their pharmaceutical productsaround the world. Key points: The degree to which pharmaceutical companies can capitalizeupon the value of their second generation patents to extendthe protection given to existing drug products depends in parton the patent landscape, country by country, and also on theregulatory landscape for generic drug products and their entryinto the marketplace.This paper will examine the patent laws,drug approval regulations, and court decisions on the validityand enforceability of later stage or second generation patentsdirected to combination compounds, selection inventions, andnew indications, in three major jurisdictions: The United States,Europe/UK, and Japan. Practical significance: Successful pharmaceutical companies can maintain a competitiveadvantage in the global pharmaceutical industry by evaluatingand strengthening the way existing drug products are protectedand, in many cases, changing the nature of protection underthe patent laws by improving upon the pharmaceutical productitself.     

The Criminological Enterprise in Europe and the United States: A Contextual Exploration

European criminology obviously means more than simply the collaborative efforts (on drugs, restorative justice, youth gangs) between researchers and scholars from Europe. In this essay, the author compares and contrasts American criminology with criminology in Europe (as it exists in individual countries), without aiming for the essence of European criminology. She points to differences between the US and Europe with regard to the criminological enterprise (such as history, scale, degree of institutionalisation, accessibility, diversity in theory and method, the critical and self-reflexive stance, and focal research questions), and to the differences in doing science, doing justice, and doing crime. American criminology is a powerful influence in Europe, although there may be a tendency to overestimate the importance of American criminology, because of the dominance of English-language publications. American criminology has made many positive contributions to the field of the study of law, crime and social control, and it continues to do so. However, if one defines the essence of American criminology as being policy-oriented, methodologically-driven, and lacking theoretical lustre, diversity, and critical edge, then the fear of Americanisation of European criminology is well-placed. It is not the criminological enterprise of the US per se, but rather the notion of Americanisation which is really at issue here.     

Explaining the under-performance of the anti-human-trafficking campaign: experience from the United States and Europe

The American and the global campaigns against the trafficking of humans for labor and for sexual exploitation have had more than a decade of time and millions of dollars of support in an effort to suppress trafficking and protect its victims. Four of the six articles in this issue explore the reasons why the campaign in the United States has not had more instrumental success with respect to its prosecution goals. The number of cases brought and convictions obtained are fewer than what might be expected. Most of the cases brought involve sex trafficking. The less than impressive record of enforcement against human trafficking appears to be another example of how even very popular law reforms and crusades can be cooled out by the social realities of the criminal justice system. Sex trafficking cases are difficult to make because the victims are difficult to work with, juries are unsympathetic, and the police, prosecutors, judges have their own priorities. The article on the attempt to eliminate sex trafficking by switching to a policy of regulating prostitution rather than treating it as a crime indicates that policy change did not succeed. An attempt to create an index for assessing the implementation of anti-trafficking programs was successful.     

Exporting Court Innovation from the United States to Continental Europe: Compatibility between the Drug Court Model and Inquisitorial Justice Systems

This paper explores the viability of the adoption of the American drug court model by European countries relying on inquisitorial justice systems, by focusing on the compatibility between key features of each. Discussion of the key features of the European inquisitorial systems focuses on their underlying ideologies and values. Discussion of the key features of the American drug courts is informed by data from a comprehensive nationwide survey of drug courts (the National Drug Court Survey).

The preference for rehabilitative goals, the very active judicial role of the judge, and the collaboration between defense and prosecution in inquisitorial systems are identified as elements highly conducive to the importation of drug courts. Treatment integration and the relative (in) flexibility to establish a legal framework for the operation of drug courts are identified as challenges to potential importation. Overall, there is a great deal of compatibility between key features of the drug courts in the US and key features of the inquisitorial systems of most European countries. This makes the adoption of drug courts in Europe a potentially viable response to illegal drug use and drug‐related crime.     

Islamic capital markets: developments and issues

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

• As modern Islamic finance continues to develop, thedevelopment and growth of capital markets, including secondarymarkets, for securities and investments that are compliant withthe principles and precepts of Islamic Shari'ah, is being witnessed.
• Thisarticle first considers the nature of Islamic finance, thenlooks at the primary factors influencing the development andgrowth of Islamic capital markets, before looking at the factorsaffecting risk assessment by transactional participants, particularlythose pertaining to certainty, predictability and transparencyof risk factors.
• Capital markets transactions involve bothShari'ah and secular jurisdictions, and legal opinions and choiceof governing law for transactional documentation in each typeof jurisdiction are critical factors in effecting these transactionsand the growth of these markets.
• The article concludes withan overview of the state of the capital markets products.