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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191.
Sub‐national government capital spending is important for both public service delivery and economic development. Currently, Indonesian sub‐national public capital spending appears barely sufficient to cover the annual depreciation of its fixed assets. A substantial proportion of local government investment spending goes to create relatively unproductive assets, such as administrative office buildings. Sub‐national governments finance their capital acquisitions out of gross operating budgets and have thus far not used, to any great extent, either borrowed funds or their significant cash reserves for such purposes. Indonesian sub‐nationals need to spend more on capital than they do now and also need to focus that spending on more useful types of infrastructure. The major constraints to increasing capital spending at the sub‐national level are not related to a dearth of finance, but regulatory rigidities in budget preparation and implementation and, most importantly, a lack of capacity to plan, design and implement investment projects. Copyright © 2010 John Wiley & Sons, Ltd.  相似文献   
192.
Matthew Amengual, Politicized Enforcement in Argentina: Labor and Environmental Regulation. New York: Cambridge University Press, 2016. Figures, tables, appendix, notes, bibliography, index, 286 pp.; hardcover $99.99, ebook $80. Matthew C. Ingram, Crafting Courts in New Democracies: The Politics of Subnational Judicial Reform in Brazil and Mexico. Cambridge: Cambridge University Press, 2015. Maps, figures, tables, appendixes, bibliography, index, 392 pp.; hardcover, $110. Russell Crandall, The Salvador Option: The United States in El Salvador, 1977–1992. New York: Cambridge University Press, 2016. Photographs, maps, figures, list of organizations, bibliography, index, 698 pp; hardcover $99.99, paperback $39.99, ebook $32. Luis Fernando Angosto‐Ferrández, Venezuela Reframed: Bolivarianism, Indigenous Peoples and Socialisms of the Twenty‐First Century. London: Zed Books, 2015. Appendix, bibliography, index, 312 pp.; paperback, ebook. Fábio de Castro, Barbara Hogenboom, and Michiel Baud, eds., Environmental Governance in Latin America. New York: Palgrave Macmillan, 2016. Tables, figures, map, bibliography, index, 350 pp.; hardcover $31, ebook. Eduardo Alemán and George Tsebelis, eds., Legislative Institutions and Lawmaking in Latin America. New York: Oxford University Press, 2016. Figures, tables, notes, bibliography, index, 296 pp.; hardcover $90, ebook. Joseph S. Tulchin, Latin America in International Politics: Challenging U.S. Hegemony. Boulder: Lynne Rienner, 2016. Bibliography, index, 235 pp.; hardcover $60. Kevin P. Gallagher, The China Triangle: Latin America's China Boom and the Fate of the Washington Consensus. New York: Oxford University Press, 2016. Tables, figures, bibliography, index, 256 pp.; hardcover $27.95, ebook.  相似文献   
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This article develops an ideal of sentencing discretion as consisting in sufficient dispositional flexibility for the trial judge to set, on behalf of the polity, reasonable terms for the continuance of relations with the offender in view of his crime. This ideal requires trial judges to have what may be termed “substantial” sentencing discretion: discretion that is exercised with direct reference to the values and goals penal sanctions are expected to serve, and where it is this quality of value-based engagement that provides the justification for the decision. The article engages with empirical research into sentencing that helps us address the strength of the case for and against substantial sentencing discretion, and ultimately defends substantial sentencing discretion on functional as well as ethical–political grounds.  相似文献   
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What are the patterns of legislator responsiveness to constituents in multi-level democracies, and what explains them? Previously, comparative research has been hampered by a lack of theory and a lack of data. The article first theorizes how constituency service may be explained by conventional arguments, such as electoral motivations and role orientations. It then considers how regionalization specifically might affect service responsiveness. Using data from the PARTIREP survey of legislators in eight multi-level democracies and six unitary democracies, the article demonstrates that national legislators devote less time to constituency service in multi-level than in unitary democracies; and that regional legislators devote more time than national legislators in multi-level democracies. While conventional arguments are important, the specific effects of regionalization are also significant in determining service responsiveness, establishing an agenda for future research of constituency service as a significant area in the study of multi-level democracy.  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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