Pierre Schammo provides a detailed analysis of EU prospectus law (and the 2010 amendments to the Prospectus Directive) and assesses the new rules governing the European Securities and Markets Authority, including the case law on the delegation of powers to regulatory agencies. In a departure from previous work on securities regulation, the focus is on EU decision-making in the securities field. He examines the EU's approach to prospectus disclosure enforcement and its implementation at Member State level and breaks new ground on regulatory competition in the securities field by providing a 'law-in-context' analysis of the negotiations of the Prospectus Directive.
This new work provides integrated analysis of and guidance on the Prospectus Regulation 2017, civil liability for a misleading prospectus, and securities litigation in a European context. The prospectus rules are one of the cornerstones of the EU Capital Markets Union and analysis of this aspect of harmonisation, the areas not covered by the rules, and the impact of Brexit, provides valuable reference for all advising and researching this field. The first section serves as an introduction to the volume with relevant context. Part two discusses the subjects of Prospectus Regulation from both a legal and economic perspective. Each chapter within part two focuses on a key subject of the new Prospectus Regulation, providing an in-depth analysis of each issue. Part III of the work explains the domestic law on liability for a misleading prospectus, this issue being omitted from the Regulation. The law and practice in each of the key capital markets centres in Europe is analysed and compared, with the UK chapter covering the issues and possible solutions under Brexit. In the chapter on securities litigation there is full consideration of conflicts of laws issues with reference to the Brussels I regulation, and the Rome I and II Regulations. The fifth and final section looks to the future of disclosure practices in connection with securities offerings in the EU. The editors evaluate their key findings in a succinct summary to inform and enlighten the reader.
This new edition provides a comprehensive analysis of the regulation and operation of the securities market in Europe, with coverage at regional and national level including analysis of implementation in 12 member states.
The two volumes in this set explain the rules applicable on the publication of a prospectus for a public offer of securities and report on the implementation of the Prospectus Directive in EU and EEA Member States.
Securitisation Law: EU and US Disclosure Regulations sets out the relevant regulations governing asset backed securities in the US and the EU. It provides the most up-to-date commentary and checklists alongside practical aids such as flow charts relating to disclosure regulations of asset backed securities governed by the EU prospectus directive and prospectus regulation, and the US Regulation AB. The book also contains a discussion on the latest case law (including case studies) and critical legal issues. One of the unique features of this book is its international scope. It is intended to meet the demand of international practitioners, and also to set out a comparative methodology that will allow practitioners to decide regulatory compliance issues relating to a particular jurisdiction and to help determine whether a particular approach is sufficiently credible against comparative benchmarks, which is increasingly pivotal in the current economic climate.
Regulation of foreign investment is one of the most topical and controversial subjects in EU law and international investment law. This book examines the legal foundations upon which EU investment policy is based, addressing the legal, practical, and political concerns created by the establishment of a common investment policy.
The financial crash and lengthy economic recession have tested the institutions of the European Union as never before. Debate about the future of Europe has polarized: Some want no more integration; others campaign for disintegration. Those who believe in deeper unity and a stronger federal Europe have yet to make their case. "A Fundamental Law" does that by offering a prospectus for radical reform. It amends the Lisbon Treaty to make the government of the EU more powerful and democratic. It embraces banking and fiscal union while showing the way forward to a legitimate settlement of Europe's constitutional dilemma. Ten years after the Convention on the Future of Europe proposed its constitutional treaty, the Spinelli Group of federalist MEPs has drafted comprehensive proposals for an ambitious new treaty. Anyone who wonders how a more united Europe should best be governed should read this. The members of the next Convention will.
Presenting a sweeping analysis of the legal foundations, institutions, and substantive legal issues in EU monetary integration, The EU Law of Economic and Monetary Union serves as an authoritative reference on the legal framework of European economic and monetary union. The book opens by setting out the broader contexts for the European project - historical, economic, political, and regarding the international framework. It goes on to examine the constitutional architecture of EMU; the main institutions and their legal powers; the core legal provisions of monetary and economic union; and the relationship of EMU with EU financial market and banking regulation. The concluding section analyses the current EMU crisis and the main avenues of future reform.
