Regulating Fraud Across Borders

Regulating Fraud Across Borders PDF

Author: Edgardo Rotman

Publisher: Bloomsbury Publishing

Published: 2021-02-25

Total Pages: 240

ISBN-13: 1509943218

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At a time when financial crime routinely crosses international boundaries, this book provides a novel understanding of its spread and criminalisation. It traces the international convergence of financial crime regulation with a uniquely comparative approach that examines key institutional and state actors including the European Union, the International Organization of Securities Commissions, as well as the United States, the United Kingdom, Switzerland, France, Italy and Germany, all countries that harbour some of the most influential stock exchanges in the Western world. The book describes and documents the phenomenon of internationalisation of securities frauds – such as insider trading and market manipulation – and the laws criminalising those acts, most notably those responding to recent dramatic transformations in securities markets, high frequency trading, and benchmark manipulation. At the European level, it shows the progressive uniformisation of laws culminating in the 2014 European Union Market Abuse Regulation. The book argues that criminal prohibitions against internationalised market abuse must be understood as an economic and legal imperative to protect financial markets against activities that imperil its integrity, compromising the confidence of investors and thus affecting the economy as a whole. The book is supported by an extensive review of the most significant scholarship in each country.

Regulating Fraud Across Borders

Regulating Fraud Across Borders PDF

Author: Edgardo Rotman

Publisher: Bloomsbury Publishing

Published: 2021-02-25

Total Pages: 349

ISBN-13: 150994320X

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This book provides a uniquely comparative approach to the examination of financial crime regulation. At a time when financial crime routinely crosses international boundaries, this book provides a novel understanding of its spread and criminalisation. It traces the international convergence of financial crime regulation with a uniquely comparative approach that examines key institutional and state actors including the European Union, the International Organization of Securities Commissions, as well as the United States, the United Kingdom, Switzerland, France, Italy and Germany, all countries that harbour some of the most influential stock exchanges in the Western world. The book describes and documents the phenomenon of internationalisation of securities frauds – such as insider trading and market manipulation – and the laws criminalising those acts, most notably those responding to recent dramatic transformations in securities markets, high frequency trading, and benchmark manipulation. At the European level, it shows the progressive uniformisation of laws culminating in the 2014 European Union Market Abuse Regulation. The book argues that criminal prohibitions against internationalised market abuse must be understood as an economic and legal imperative to protect financial markets against activities that imperil its integrity, compromising the confidence of investors and thus affecting the economy as a whole. The book is supported by an extensive review of the most significant scholarship in each country.

International Contracts and National Economic Regulation:Dispute Resolution Through International Commercial Arbitration

International Contracts and National Economic Regulation:Dispute Resolution Through International Commercial Arbitration PDF

Author: Mahmood Bagheri

Publisher: Kluwer Law International B.V.

Published: 2000-12-06

Total Pages: 314

ISBN-13: 9041198105

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The growth of national economic regulation and the process of globalisation increasingly expose international transactions to an array of regulations from different jurisdictions. These developments often contribute to widespread international contractual failures when parties claim the incompatibility of their contractual obligations with regulatory laws. The author challenges conventional means of dispute resolution and argues for an interdisciplinary approach whereby disciplines such as international economic law, conflict of laws, contract law and economic regulations are functionally united to resolve international and multifaceted regulatory disputes. He identifies the normative foundation of contract law as an important determinant in this process, contending that contract law is essentially neutral and underpinned by the concept of corrective justice, while economic regulations are mainly prompted by distributive justice. Applying this corrective/distributive justice dichotomy to international contracts, the author critically assesses major conflict of laws approaches such as `proper law', `the Rome Convention' and `governmental interest analysis', which could disregard either public interest or private rights. The author, taking these theories into account, proposes an alternative two-dimensional interest analysis approach. He tests the viability of this approach with reference to arbitral awards and court decisions in various jurisdictions and concludes that it uniquely fits into the structure of international commercial arbitration. In adopting this approach arbitrators would take into account both corrective and distributive justice, and to the extent that corrective justice prevails, would be able to avert a total failure of the contract.

A Cross-Border-Only Regulation for Consumer Transactions in the EU

A Cross-Border-Only Regulation for Consumer Transactions in the EU PDF

Author: Christian Twigg-Flesner

Publisher: Springer Science & Business Media

Published: 2011-11-16

Total Pages: 91

ISBN-13: 1461420474

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For almost three decades, the European Union (EU) has adopted measures to regulate consumer transactions within the internal market created by the EU Treaties. Existing legislation is largely based on directives harmonizing aspects of national consumer laws. This Brief argues that a more appropriate approach for EU consumer law would be legislation in the form of a regulation which is applicable to cross-border transactions only. The author considers the constitutional constraints of the EU Treaties, before examining the case for a cross-border-only measure. He argues that the cross-border approach is preferable, because it would provide clearer benefits for consumers seeking to buy goods and services across borders, while not upsetting domestic law unnecessarily—in particular in the context of e-commerce, with implications for industry, policymaking, and regional development. The Brief concludes by suggesting that a successful EU measure on cross-border consumer transactions could create a template for global initiatives for transnational consumer law.

International and national regulatory strategies to counter food fraud

International and national regulatory strategies to counter food fraud PDF

Author: Roberts, M.T., Viinikainen, T., Bullon, C.

Publisher: Food & Agriculture Org.

Published: 2022-04-05

Total Pages: 68

ISBN-13: 9251359040

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Food fraud has beset governments for centuries, and the legal responses to it have been uniquely suited to the sensibilities of the time. This publication follows the concept of food fraud described to occur when a fraudster intentionally deceives a customer about the quality and/or contents of the foods they wish to purchase, and such act is done to obtain an undue advantage, most often economic, for the fraudster. The vastness and complexity of food fraud, and the versatility in regulatory approaches can challenge national governments in their attempts to develop a coherent, focused approach to food fraud. To respond to this challenge, this paper introduces the available international regulatory guidance and the potential legal strategies at the national and regional level. It identifies and analyses some of the regulatory approaches to food fraud that countries have chosen and pays attention to the role of the private sector in food fraud regulation.

The Regulatory Aftermath of the Global Financial Crisis

The Regulatory Aftermath of the Global Financial Crisis PDF

Author: Eilís Ferran

Publisher: Cambridge University Press

Published: 2012-11-15

Total Pages: 433

ISBN-13: 1139851780

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The EU and the US responded to the global financial crisis by changing the rules for the functioning of financial services and markets and by establishing new oversight bodies. With the US Dodd–Frank Act and numerous EU regulations and directives now in place, this book provides a timely and thoughtful explanation of the key elements of the new regimes in both regions, of the political processes which shaped their content and of their practical impact. Insights from areas such as economics, political science and financial history elucidate the significance of the reforms. Australia's resilience during the financial crisis, which contrasted sharply with the severe problems that were experienced in the EU and the US, is also examined. The comparison between the performances of these major economies in a period of such extreme stress tells us much about the complex regulatory and economic ecosystems of which financial markets are a part.

The EU Treaties and the Charter of Fundamental Rights

The EU Treaties and the Charter of Fundamental Rights PDF

Author: Manuel Kellerbauer

Publisher: Oxford University Press

Published: 2019-05-16

Total Pages: 2463

ISBN-13: 0192513419

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This Commentary provides an article-by-article summary of the TEU, the TFEU, and the Charter of Fundamental Rights, offering a quick reference to the provisions of the Treaties and how they are interpreted and applied in practice. Written by a team of contributors drawn from the Legal Service of the European Commission and academia, the Commentary offers expert guidance to practitioners and academics seeking fast access to the Treaties and current practice. The Commentary follows a set structure, offering a short overview of the Article, the Article text itself, a key references list including essential case law and legislation, and a structured commentary on the Article itself. The editors and contributors combine experience in practice with a strong academic background and have published widely on a variety of EU law subjects.

A Guide to Money Laundering Law and Regulation

A Guide to Money Laundering Law and Regulation PDF

Author: Ravi Rajcoomar

Publisher: Xlibris Corporation

Published: 2012-07-17

Total Pages: 295

ISBN-13: 1477137521

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Ravi Rajcoomar, one of the Caribbean’s leading attorneys, was born in Trinidad, WI, and spent his early years in the United Kingdom. An academic scholar, he studied law at the UWI, Cavehill and Hugh Wooding Law School before starting his prodigious practice in criminal and civil law from1987 in Trinidad and Tobago, working in some of the country’s most prestigious law firms, alongside legal luminaries such as Karl Hudson Phillips, QC and the late Desmond Allum, QC. A married father of four, he’s currently attached to Trinity Chambers in Port of Spain. Known for his unique legal acumen, he has litigated in some of the region’s most prominent and groundbreaking criminal and civil cases, many of which set legal precedent in the Caribbean and Commonwealth region in the past 25 years. As a founding member and executive officer of the Criminal Bar Association of T&T, he pioneered several domestic legal initiatives, including reform in the Magisterial Courts, legislation for DNA, paper committals and copyright infringement, use of witnesses statements in trials, visual recordings of police interviews, the Financial Investigation Unit and compliance and competition economics in the Caricom region. As a former senior member of the Council of the Law Association of Trinidad and Tobago, he spearheaded major national legal initiatives aimed at protecting the public’s interest, including the review of prisoners’ rights and Constitutional Reform. Rajcoomar has also authored publications in Lawyer on Abuse of Process in Criminal Law and DNA and the Criminal Law, as well as ‘A guide for Money Laundering Law & Regulation in Trinidad and Tobago.’ He’s also lectured at the Hugh Wooding Law School since 2005, and currently serves as a Commissioner of the Trinidad and Tobago Securities Exchange Commission.

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