Mifid Ii And Private Law

Author : Federico Della Negra
Publisher : Unknown
Page : 244 pages
File Size : 46,8 Mb
Release : 2019
Category : Electronic
ISBN : 1509925325

Get Book

MiFID II and Private Law by Federico Della Negra Pdf

"In the wake of the global financial crisis, investors have suffered significant losses as a result of breaches of conduct of business rules in the distribution of financial instruments. MiFID II introduced new disclosure, distribution and product governance rules to strengthen the protection of investors but, like MiFID I, did not harmonise the civil law consequences for their violation. This book asks whether, in spite of the silence of the EU legislators, the MiFID II conduct of business rules may produce civil law effects, enabling investors to enforce them against investment firms before national courts and alternative dispute resolution (ADR) mechanisms. Building on the case law of the CJEU, the book shows the conditions under which the breach of MiFID II conduct of business rules should give rise to a private law remedy, and what remedies would be compatible with EU law. MiFID II and Private Law is an essential contribution to academic research in EU and financial law and will be a key text for policy-makers and legal practitioners working in the field of investor protection regulation and mis-selling litigation."--Bloomsbury Publishing.

Author : Marnix Wallinga
Publisher : Springer Nature
Page : 440 pages
File Size : 46,7 Mb
Release : 2020-10-30
Category : Law
ISBN : 9783030540012

Get Book

EU Investor Protection Regulation and Liability for Investment Losses by Marnix Wallinga Pdf

This book examines the relationship between the EU investor protection regulations enshrined in MiFID and MiFID II and national contract and torts law. It describes how the effect of the conduct of business rules as implemented in national financial supervision legislation in private law extends to the issue of enforcement, and critically assesses this interaction from the perspective of EU law. In particular, the conclusions identified in the book will deepen readers’ understanding of the interplay between the conduct of business rules and private law norms governing a firm’s liability to pay damages, such as duty of care, attributability of damage, causation, contributory negligence and limitation. In turn, the book identifies the subordination and the complementarity model to conceptualise the interaction between the conduct of business rules and private law norms. Moreover, the book challenges the view that civil courts are – or should be – forced to give private law effects to violation of the MiFID and MiFID II conduct of business rules in line with the subordination model. Instead, the complementarity model is advanced as the preferred approach to this interaction in view of what MiFID and MiFID II require from Member States in terms of their implementation, as well as the desirability of each model. This model presupposes that courts should consider the conduct of business rules when adjudicating individual disputes, while preserving the autonomy of private law norms governing liability of investment firms towards clients. Based on analysis of case law of courts in Germany, the Netherlands and England & Wales, as well as scholarly literature, the book also compares the available causes of action, the conditions of liability and the obstacles investors face when claiming damages, as well as how and the extent to which investors can benefit from the conduct of business rules in clearing these obstacles. In so doing, under the approach adopted by national courts to the interplay between the conduct of business rules of EU origin and private law, the book shows how investors can benefit from the influence of these rules on private law norms. In closing, it demonstrates a hybridisation of private law remedies resulting from the accommodation of the conduct of business rules into the private law discourse according to the complementarity model, illustrating how judicial enforcement through private law means may contribute to investor protection.

Author : Federico Della Negra
Publisher : Bloomsbury Publishing
Page : 287 pages
File Size : 49,5 Mb
Release : 2019-07-11
Category : Law
ISBN : 9781509925292

Get Book

MiFID II and Private Law by Federico Della Negra Pdf

Based on author's thesis (doctoral - European University Institute, 2017) issued under title: Private law and private enforcement in the post-crisis EU retail financial regulation.

Author : Carl Fredrik Bergström,Associate Professor of European Law Magnus Strand,Magnus Strand
Publisher : Oxford University Press
Page : 369 pages
File Size : 45,9 Mb
Release : 2022-01-22
Category : Financial instruments
ISBN : 9780192849281

Get Book

Legal Accountability in EU Markets for Financial Instruments by Carl Fredrik Bergström,Associate Professor of European Law Magnus Strand,Magnus Strand Pdf

The proper functioning of the EU financial market is protected by public actors - both national and supranational - responsible for rulemaking and supervision of investment firms and other private actors. At the same time the effectiveness of the EU legal system requires vigilance from private actors such as investment firms but also their clients, invoking their rights before national authorities and courts. This means that investment firms have a dual role within the system, turning them into subjects of control and enforcement but also agents in the maintenance of the rule of law. Legal Accountability in EU Markets for Financial Instruments brings together a group of scholars with expertise from different legal disciplines but a shared interest for the EU internal market and the way it develops. It integrates a modern study of the form and function of EU rulemaking in the internal market after the financial crisis. The book includes an evaluation of core aspects of rulemaking in the financial market and that way provides a cross-cutting treatment of EU law. The focus of the book is set on the regulatory framework in MiFIDII and MiFIR and thematic questions around legal mechanisms for accountability and the role of investment firms in the operation of those mechanisms. It further discusses the implications for EU law and the EU legal system and gives readers a thorough understanding of the concept of accountability through its own findings.

Author : Mario Comana,Daniele Previtali,Luca Bellardini
Publisher : Springer
Page : 233 pages
File Size : 41,8 Mb
Release : 2019-02-15
Category : Business & Economics
ISBN : 9783030125042

Get Book

The MiFID II Framework by Mario Comana,Daniele Previtali,Luca Bellardini Pdf

This book provides a detailed analysis of the main innovations and impacts associated with the package of European legislation comprising MiFID II and MiFIR, which constitutes a pillar of the EU’s “single rulebook” for financial regulation. Adopting a research-oriented approach, the authors also consider the practical consequences of the new legislation, to provide a clear description of the new rules and the ways in which they address concerns raised by the financial crisis, as well as an appraisal of the theoretical implications from an EU-wide perspective. The book also presents a comparative analysis of how the package is being implemented within the larger countries of the Eurozone and the United Kingdom, and evaluates the likely consequences for banks’ business models. This research book is a valuable resource for graduate and master’s level students as well as professionals and practitioners interested in understanding the European financial law and, in particular, the dynamics of the investment industry.

Author : Federico Della Negra
Publisher : Bloomsbury Publishing
Page : 277 pages
File Size : 51,8 Mb
Release : 2019-07-11
Category : Law
ISBN : 9781509925315

Get Book

MiFID II and Private Law by Federico Della Negra Pdf

In the wake of the global financial crisis, investors have suffered significant losses as a result of breaches of conduct of business rules in the distribution of financial instruments. MiFID II introduced new disclosure, distribution and product governance rules to strengthen the protection of investors but, like MiFID I, did not harmonise the civil law consequences for their violation. This book asks whether, in spite of the silence of the EU legislators, the MiFID II conduct of business rules may produce civil law effects, enabling investors to enforce them against investment firms before national courts and alternative dispute resolution (ADR) mechanisms. Building on the case law of the CJEU, the book shows the conditions under which the breach of MiFID II conduct of business rules should give rise to a private law remedy, and what remedies would be compatible with EU law. MiFID II and Private Law is an essential contribution to academic research in EU and financial law and will be a key text for policy-makers and legal practitioners working in the field of investor protection regulation and mis-selling litigation.

Author : Jonathan Herbst,Simon Lovegrove
Publisher : Unknown
Page : 438 pages
File Size : 54,9 Mb
Release : 2015
Category : Financial instruments
ISBN : 0414026853

Get Book

A Practitioner's Guide to MiFID II by Jonathan Herbst,Simon Lovegrove Pdf

A complete practitioner's guide to the provisions and practical implications of the new Markets in Financial Instruments Directive, MiFID II, and the new regulation, MiFIR. Written by a team of authors that includes some of the industry's foremost experts, the book will cover: ; Both the original directive and all the changes and extensions brought about by MiFID II; How the directive will impact firms and how they need to prepare for its implementation ; How the directive interacts with other European and UK level legislation.

Author : Marise Cremona,Hans-W Micklitz
Publisher : Oxford University Press
Page : 350 pages
File Size : 54,8 Mb
Release : 2016-03-18
Category : Law
ISBN : 9780191062001

Get Book

Private Law in the External Relations of the EU by Marise Cremona,Hans-W Micklitz Pdf

Private Law in the External Relations of the EU is an innovative study of the interactions between EU external relations law and private law, two unrelated fields of law, inverted if private law is understood as regulatory private law - the space where regulatory law intersects with private economic activity. Here the link between the Internal Market and the global market - and thereby international law - is much more prominent. In this book, key questions about the relationship between EU external relations law and private law are answered, including: in what ways might European private law act as a tool to achieve EU external policy objectives, particularly in regulatory fields? How might the quickly developing EU external competence over the procedural dimensions of private law, including private international law, impact on substantive law, both externally and internally? And how is the legal position of private parties affected by EU external relations? In asking these questions, this edited collection opens up a field of enquiry into the so far underexplored relationship between these two fields of law. In doing so, it addresses three different aspects of the relationship: (i) the evolution of the EU competence, (ii) the ways in which EU private law extends its reach beyond the boundaries of the internal market, and (iii) the ways in which the EU contributes to the formation of private regulation at the international level.

Author : Paul Nelson
Publisher : Cambridge University Press
Page : 482 pages
File Size : 52,8 Mb
Release : 2012-02-22
Category : Law
ISBN : 1107404665

Get Book

Capital Markets Law and Compliance by Paul Nelson Pdf

The Markets in Financial Instruments Directive (MiFID) is a detailed re-writing of the regulation of capital markets. To the extent those rules permit, the Financial Services Authority (FSA) is also introducing high-level 'principles-based regulation'. In response to this, Paul Nelson presents practical guidance on the regulation of the capital markets, ranging from new issues and IPOs to investment banking, broker-dealing and asset management. All laws and rules relevant to the regulation of the capital markets are explained and put into context within the economic operation of markets, institutions and products, the European Single Market, the FSA's policies and objectives, the historical evolution of the regulations and the general civil and criminal law. Drawing on 30 years' experience as a practitioner, and referring to a vast range of supporting materials, the author provides an insightful analysis and critique of the rules, the rule makers and the institutions.

Author : Olha O. Cherednychenko,Mads Andenas
Publisher : Edward Elgar Publishing
Page : 327 pages
File Size : 52,7 Mb
Release : 2020-11-27
Category : Law
ISBN : 9781789908114

Get Book

Financial Regulation and Civil Liability in European Law by Olha O. Cherednychenko,Mads Andenas Pdf

This insightful book provides a comprehensive analysis of the interplay between EU financial regulation and civil liability. It explores this interrelationship in order to determine whether a coordinated approach has been adopted.

Author : Takis Tridimas,Mateja Durovic
Publisher : Bloomsbury Publishing
Page : 264 pages
File Size : 51,6 Mb
Release : 2021-05-20
Category : Law
ISBN : 9781509935635

Get Book

New Directions in European Private Law by Takis Tridimas,Mateja Durovic Pdf

This book brings together leading scholars and practitioners, to explore contemporary challenges in the field of European private law, identify problems, and propose solutions. The first section reassesses the existing theoretical framework and traditional legal scholarship on which European private law has developed. The book then goes on to examine important and practical topics of geo-blocking and standardisation in the context of recent legislative developments and the CJEU case law. The third section assesses the challenging subject of adequate regulation of online platforms and sharing economy that has been continuously addressed in the recent years by European private law. A fourth section deals with the regulatory challenges brought by an increasing development of artificial intelligence and blockchain technology and the question of liability. The final section examines recent European legislative developments in the area of digital goods and digital content and identifies potential future policy directions in which the European private law may develop in the future.

Author : Anna Beckers,Hans-W Micklitz,Rodrigo Vallejo,Pia Letto-Vanamo
Publisher : Bloomsbury Publishing
Page : 428 pages
File Size : 43,6 Mb
Release : 2024-05-30
Category : Law
ISBN : 9781509962938

Get Book

The Foundations of European Transnational Private Law by Anna Beckers,Hans-W Micklitz,Rodrigo Vallejo,Pia Letto-Vanamo Pdf

Since Anu Bradford's groundbreaking book on the Brussels Effect there is a vastly evolving literature on the EU as a global regulatory actor as well as the global reach of EU law. This edited collection connects to this debate. Yet, it shifts the focus from the currently predominant public law focus to investigating European and EU private law and to connecting to literature and research on transnational law. To that end, it proceeds first conceptually by introducing and giving shape to the notion of a “European Transnational Private Law” through four conceptual contributions by the editors. Secondly, it focuses on several sectors (finance, taxation, investment, consumer law, labour law) and topics (climate litigation, global value chains, non-discrimination) to trace sector-specifically the role of EU private law in relation to transnational legal ordering.

Author : Maren Heidemann
Publisher : Springer Nature
Page : 1099 pages
File Size : 44,9 Mb
Release : 2024-06-28
Category : Electronic
ISBN : 9783031284977

Get Book

The Transformation of Private Law – Principles of Contract and Tort as European and International Law by Maren Heidemann Pdf

Author : Emilios Avgouleas,Heikki Marjosola
Publisher : Walter de Gruyter GmbH & Co KG
Page : 291 pages
File Size : 42,6 Mb
Release : 2021-12-20
Category : Law
ISBN : 9783110749472

Get Book

Digital Finance in Europe: Law, Regulation, and Governance by Emilios Avgouleas,Heikki Marjosola Pdf

Global finance is in the middle of a radical transformation fueled by innovative financial technologies. The coronavirus pandemic has accelerated the digitization of retail financial services in Europe. Institutional interest and digital asset markets are also growing blurring the boundaries between the token economy and traditional finance. Blockchain, AI, quantum computing and decentralised finance (DeFI) are setting the stage for a global battle of business models and philosophies. The post-Brexit EU cannot afford to ignore the promise of digital finance. But the Union is struggling to keep pace with global innovation hubs, particularly when it comes to experimenting with new digital forms of capital raising. Calibrating the EU digital finance strategy is a balancing act that requires a deep understanding of the factors driving the transformation, be they legal, cultural, political or economic, as well as their many implications. The same FinTech inventions that use AI, machine learning and big data to facilitate access to credit may also establish invisible barriers that further social, racial and religious exclusion. The way digital finance actors source, use, and record information presents countless consumer protection concerns. The EU’s strategic response has been years in the making and, finally, in September 2020 the Commission released a Digital Finance Package. This special issue collects contributions from leading scholars who scrutinize the challenges digital finance presents for the EU internal market and financial market regulation from multiple public policy perspectives. Author contributions adopt a critical yet constructive and solutions-oriented approach. They aim to provide policy-relevant research and ideas shedding light on the complexities of the digital finance promise. They also offer solid proposals for reform of EU financial services law.

Author : Hilde K Ellingsen
Publisher : Bloomsbury Publishing
Page : 296 pages
File Size : 48,5 Mb
Release : 2021-03-25
Category : Law
ISBN : 9781509937165

Get Book

Standing to Enforce European Union Law before National Courts by Hilde K Ellingsen Pdf

Access to court has long been recognised as an essential element of a Union based on the rule of law. This book asks, how can Member States ensure that their rules on standing guarantee that right? The book answers this question by analysing the requirements of EU law from two angles: first, the effective protection of Union rights; second, the effectiveness of Union law per se. With detailed case law examination, the book formulates an autonomous Union law doctrine of standing based on the principle of effective judicial protection. It then goes further, setting out an effectiveness test of Member States' enforcement mechanisms, to ensure that EU law is rendered operative in practice. This is a rigorous study on a question of immense importance.