Journal articles on the topic 'Over-the-counter markets – Law and legislation'
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1
Vanhove, Simon. "Locality in EU Energy Law." European Energy and Environmental Law Review 29, Issue 6 (December 1, 2020): 220–31. http://dx.doi.org/10.54648/eelr2020046.
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This article identifies ‘locality’ as an overarching concept in EU energy law. This has two consequences. First, it highlights the need for coherent law-making on EU level, specifically by avoiding multiplication of similar-but-not-identical concepts. Second, I argue locality can be considered a specific expression of subsidiarity. To support these claims, this article takes Belgium as a case study for diverse interpretations of this locality concept in Member State law. This is done by an analysis of both regional legislation and the regulator’s decision practice. Furthermore, I revisit theory on the EU constitutional principle of subsidiarity. Finally, a counter-example is offered: the second generation of network codes and guidelines will increasingly impact ‘local’ aspects of the electricity markets. In conclusion, locality serves a double theoretical role: it offers a descriptive classification for EU energy law and provides a substantive hermeneutic tool for subsidiarity assessments. EU energy law, Clean Energy Package, subsidiarity, locality, proximity, single market, integration, harmonization, network codes and guidelines
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Efroni, Zohar. "Gaps and opportunities: The rudimentary protection for “data-paying consumers” under new EU consumer protection law." Common Market Law Review 57, Issue 3 (May 1, 2020): 799–830. http://dx.doi.org/10.54648/cola2020693.
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Recent adjustments to consumer protection law have played a significant role in the strategic steps taken by the EU in attempts to adapt EU law to the digital economy and to the rising importance of data and data markets. The Directive on certain contractual aspects concerning the provision of digital goods and digital services stands out in its unequivocal recognition of business models that rely on data as contractual counter-performance and of the need to protect (also) consumers who “pay” with data instead of money. This article analyses the novel provisions of the Directive and assesses its impact specifically on data-paying consumers within the broader context of recent EU legislation in the area of consumer protection and data protection. The article identifies some gaps in the legislative scheme and possible opportunities for domestic laws and courts to fill these gaps for granting effective protection to such consumers.
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Fisher, Talia. "Separation of Law and State." University of Michigan Journal of Law Reform, no. 43.2 (2010): 435. http://dx.doi.org/10.36646/mjlr.43.2.separation.
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In the framework of the jurisprudential literature, the law-state bond is assumed as a given. Points of dispute emerge only at more advanced stages of the discussion, with respect to such questions as the duty to obey state law or the appropriate extent of state intervention in social relations. This Article will be devoted to a reconsideration of the presupposition of the law-state link and to challenging the state's status vis-à-vis the law-both in its role as the producer of legal norms and its capacity as the arbiter of disputes. The Article opens with a comparative elucidation of the Hobbesian and Lockean justifications for the existence of the state and its intervention in the law. The first Part of this Article analyzes the "ills" of the State of Nature, reviewing the range of failures that accompany market supply of the legislative and judicial functions. These derive from the public good characteristics of legislative and judicial services, from the fact that law is a network industry, and from the cartelization tendency in the legislative and judicial markets. Based on these failures in organizing social behavior in the State of Nature, Hobbes's and Locke's theories of the social contract justify the concentration of the legislative and judicial functions in the hands of the state sovereign and grant it a monopoly over these functions. The second Part of this Article critiques Hobbes's and Locke's conclusions, first and foremost their disregard for the flaws of the public model, which they support. An implicit premise of both the Hobbesian and Lockean justifications for state law is that where the private market fails, the state will necessarily fare better. However, there is a cost to state intervention, and public supply of legislative and judicial services is not without flaws. Proponents of the public state law model must therefore further show that this model generates more efficient results than those produced by the private model. The second line of criticism will argue that the matter is not resolved even if we assume that the fully privatized model is a less attractive option for the supply of law than the fully public alternative. These two extreme alternatives do not exhaust the entire spectrum of possibilities for the law-state connection. Rather, between these two polar ends there may be intermediate forms of limited state intervention in the markets for legislation and adjudication. These configurations rest on the abandonment of the dichotomy that characterizes Hobbes's and Locke's doctrines, between a monolithic public legal order and sweeping nonintervention in the law on the part of the state. This Article closes by presenting a possible median point along the axis that illustrates the possibility of correcting the failures of the legislative and judicial markets in the framework of a polycentric legal regime based on more limited state intervention in these areas. The conclusion offered will be that while the ills of the State of Nature, as identified by Hobbes and Locke, are valid justifications of state intervention per se in the legislative and judicial markets, they do not justify intervention in the form of a state monopoly over the law. State intervention in legislation and adjudication is vital for creating the space in which legal regimes can grow-where rights can be set and adjudication conducted in light of those rights. There is absolutely no need, and therefore no justification, for the state to hold the sole power to set these rights itself and decide disputes in light thereof.
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Egorova, M. A., and I. A. Samoilov. "The impact of antitrust law on the formation and activities of corporate associations." Courier of Kutafin Moscow State Law University (MSAL)), no. 7 (September 23, 2022): 66–76. http://dx.doi.org/10.17803/2311-5998.2022.95.7.066-076.
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The growth of the scale of business in the modern world leads to the inevitable processes of concentration of capital, which, in turn, strengthens the position of large corporate associations in various industry and geographical markets. Large corporations and their associations are becoming major players in various markets. As a result, a significant number of small companies are taken over or squeezed out of the markets by large players. The article presents current trends in the development of antimonopoly regulation in relation to corporations, provides examples of the most high-profile litigation relating to violations of competition law. The authors analyze the current state of the Russian antimonopoly legislation in terms of the definition of corporate associations, highlight the directions of development in relation to corporate associations. The importance of developing a system of internal compliance with the requirements of the antimonopoly legislation is noted, and the positive and negative aspects of the voluntariness of the introduction of such a system are also indicated. It is proposed that antimonopoly compliance be mandatory for large corporations. Mitigation of liability if the corporate association has antimonopoly compliance,
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Kaal, Wulf A. "Extraterritorial Application of US Securities Law: Will the US Become the Default Jurisdiction for European Securities Litigation?" European Company Law 7, Issue 3 (June 1, 2010): 90–97. http://dx.doi.org/10.54648/eucl2010019.
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Pending case law by the US Supreme Court (Morrisson v. National Australia Bank) and draft legislation in Congress threaten to expand the jurisdiction of US courts to cases where foreign, i.e. non US, plaintiffs sue foreign defendants over securities purchased in foreign securities markets. This article describes the many aspects of this threat, in particular for European investors, brokers, banks and ... lawyers.
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Egorova, Maria A. "Features of exercising control over economic concentration: the experience of Russia, France and USA." RUDN Journal of Law 25, no. 3 (August 23, 2021): 654–72. http://dx.doi.org/10.22363/2313-2337-2021-25-3-654-672.
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The relevance of the topic is due to the comprehensive development of digital technologies and the need for timely legal regulation of new phenomena of public life. Digitalization is not only rapidly penetrating all sectors of the economy, but is a trigger for the creation of qualitatively new economic relations. The digital transformation of the economy and markets, in addition to objective advantages, also carries negative consequences. Negative manifestations are possible in the monopolization of commodity markets. Antitrust laws are changing in line with the expansion of digital markets. The article identifies the main obstacles to regulating monopolies in the digital economy. The practice of antimonopoly regulation of digital platforms is considered. The tasks of adopting the fifth antimonopoly package as expanding the scope of the Federal Law On Protection of Competition are outlined. In addition, the concept of economic concentration is analyzed, as well as signs of restricting competition when considering transactions in its conditions. Particular attention is paid to differences in approaches to regulating the digital market in Russia, France and USA. A comparative analysis of the antimonopoly legislation of Russia, France and USA, types of economic concentration, regulations for control over concentrations at the level of different jurisdictions has been carried out. The phases of control over economic concentration, the powers of the antimonopoly authorities, the assessment of criminal encroachments on competition are considered in detail.
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Balasingham, Baskaran, and Tai Neilson. "Digital Platforms and Journalism in Australia: Analysing the Role of Competition Law." World Competition 45, Issue 2 (June 1, 2022): 295–318. http://dx.doi.org/10.54648/woco2022011.
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News media businesses compete with search engines and social media networks for advertising revenue but at the same time depend on the latter to reach and interact with audiences. The Digital Platforms Inquiry (DPI) completed by the Australian Competition and Consumer Commission (ACCC) found that media businesses’ dependency on digital platforms gives companies like Google and Facebook substantial bargaining power over Australian news media businesses. This development over the past decade has caused negative repercussions for the choice and quality of news available to Australians. In response to thegse findings, Australia’s News Media and Digital Platforms Mandatory Bargaining Code 2021 extends the application of competition law into digital news and advertising markets. The reform is intended to address the impact of digital platforms on the commercial viability of Australian news companies. In this article, we assess the application of competition law to the relationship between news media and digital platforms, including the strength of the DPI findings and the appropriateness of the resulting reforms. We argue that after decades of deregulation of the media sector in Australia the News Media Bargaining Code is a hybrid legislation, which introduces news media industry regulations under the guise of competition law. While we see a continued role for competition law in digital platform markets, this article indicates the challenges posed by digital platforms on media pluralism and the limitations of a market-driven approach to news media policy. news media businesses, digital platforms, advertising, regulation, media policy, Australian competition law, market power, media pluralism, Digital Platforms Inquiry, News Media Bargaining Code
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Kaczmarek, Sarah C., and Abraham L. Newman. "The Long Arm of the Law: Extraterritoriality and the National Implementation of Foreign Bribery Legislation." International Organization 65, no. 4 (October 2011): 745–70. http://dx.doi.org/10.1017/s0020818311000270.
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AbstractCan the application of domestic law by bureaucracies in powerful states alter policy dynamics globally? Courts and regulatory agencies with jurisdiction over large markets routinely impose national rules to conduct transpiring outside of their physical borders. Such extraterritoriality has expanded to issues ranging from antitrust to the environment. Proponents claim that extraterritorial acts can have far-reaching international consequences, spilling over into the domestic political economy of regulation in target states. Skeptics, however, question the effects of these sanctions against internationally mobile actors. In this study, we offer the first quantitative analysis of extraterritorial intervention for global policy convergence. In particular, we construct an original time-series panel data set to test the association between extraterritorial actions by U.S. prosecutors and the national enforcement of foreign bribery regulations in target countries. Our empirical analysis finds strong statistical evidence linking extraterritoriality to national policy implementation, with jurisdictions that experienced a U.S. intervention being twenty times more likely to enforce their national rules. The findings suggest the important influence that domestic law in powerful states may have for global cooperation in general and sheds light on the key pillars of international anticorruption efforts in particular.
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Egorova, Maria A., Aleksandr A. Petrov, and Ol’ga V. Kozhevina. "Impact of digitalization on antitrust regulation and control over economic concentration in the high-tech sector." Vestnik of Saint Petersburg University. Law 13, no. 2 (2022): 327–43. http://dx.doi.org/10.21638/spbu14.2022.203.
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The article discusses topical issues of protection and regulation of competition in the markets in the digital business environment. The authors noted that the systems of regulation and law enforcement should be flexibly combined, harmonized in order to develop adequate measures to stimulate fair competition. From the standpoint of adaptation to Russian practice, the foreign experience of the antimonopoly authorities in terms of regulating online markets, price algorithms, and mergers and acquisitions has been studied. The high-tech sector is particularly dynamic. In this regard, the authors draw attention to the fact that in the digital economy of demand, the processes of monopolization, competition persist, but their content is transformed, which complicates the analysis and assessment of monopolization, dominance, competition. Anticompetitive practices can lead to the dominance of a single platform. The signs of the dominant position of digital platforms are revealed. Based on the regulatory and legal approach, the article summarizes the Russian and foreign experience of qualifying economic concentration and dominant position, identifies negative factors that cause the expansion of regulatory control of antimonopoly authorities over digital platforms. The legal nature of digital platforms, direct and indirect network effects have been studied in detail. It has been proven that algorithms can serve as collusion tools in both horizontal and vertical agreements. From the standpoint of economic research methods, an overview of the assessment of the dominant position of antimonopoly authorities in the digital economy is carried out, it is noted that the preconditions have been created for the formation of a platform economy. The features of the antitrust policy in relation to digital platforms in Russia, the European Union and the United States are considered. It is concluded that antitrust legislation in recent years has become a powerful regulatory tool at the level of different jurisdictions.
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Wei, Yanxia, Ron Borland, Pinpin Zheng, Hua Fu, Fan Wang, Jingyi He, and Yitian Feng. "Evaluation of the Effectiveness of Comprehensive Smoke-Free Legislation in Indoor Public Places in Shanghai, China." International Journal of Environmental Research and Public Health 16, no. 20 (October 21, 2019): 4019. http://dx.doi.org/10.3390/ijerph16204019.
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This study evaluated compliance with the comprehensive smoke-free law in public indoor places introduced in Shanghai in March 2017. Observations and PM2.5 monitoring over 30 min intervals in 8 types of the venue were conducted three times: within a month before implementation and 3- and 12-months post implementation. Observations of evidence of smoking decreased from 66.2% before legislation to 52.8% three months after (p = 0.002) and 49.7% one year after (p < 0.001). The density of lit cigarettes also reduced significantly after implementation (p < 0.001). When adjusting for outdoor, indoor PM2.5 levels were significantly lower after the legislation, but only by a small amount (three months later: −0.27, p = 0.08; one year later: −0.12; p = 0.03). Evidence of compliance was weakest in farmer’s markets and bars, and smoking in male toilets did not change significantly. The reduction in smoking was affected by the management performance of their obligations. The comprehensive smoke-free law led to modest reductions in smoking and PM2.5 levels as a result, but from levels suggesting quite high levels of pre-compliance. However, compliance was limited in some areas, suggesting more effort is required on management to gain better compliance in some places like farmer’s markets, bars, and toilets.
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Zotova, E. К. "Development of German and Russian Corporate Law in the Hostile Take- over Environment." Journal of Law and Administration, no. 3 (January 23, 2019): 44–52. http://dx.doi.org/10.24833/2073-8420-2018-3-48-44-52.
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Introduction. Speculative behavior is common for modern stock markets. It leads to corporate short-termism and therefore has negative systemic implications for the states’ economies. In an attempt to mitigate this trend, the German lawmaker developed national legislation aiming, inter alia, to provide company management with additional powers it could potentially use to prevent hostile takeovers. This experience needs to be critically studied in terms of both German and Russian doctrine and legal practice.Materials and methods. This paper uses the following general and specifc scientifc methods: structure-function analysis, comparative law method, Aristotelian method, statistical method, historical method, systemic method and hermeneutic method.Results of the research. Reacting towards a number of transactions affecting the German corporate landscape, the German legislature developed the Law on Acquisition of Securities and Change of Corporate Control. This Law contains protectionist provisions potentially entitling the board of directors of a joint-stock company to undertake measures to prevent hostile takeovers either subject to consent of the supervisory board or in cases where it is authorized to do so according to the corporate charter. Nevertheless, the impact these powers have in practice is very limited, which can be mostly attributed to practical considerations of the German judiciary and legislature.Discussion and conclusions. The article contains analysis of the German and Russian legal doctrine and court practice pertaining to joint-stock companies, as well as the scope of authorities of their management, analysis of the basic advantages and disadvantages of the German regulatory approach, conclusions as to applicability of the German approach in Russia.
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Sinitsin, Sergey. "Corporate Control in Russian and Foreign Law: Relations of Economy and Law." Law. Journal of the Higher School of Economics, no. 1 (2021): 4–36. http://dx.doi.org/10.17323/2072-8166.2021.1.4.36.
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The accelerating pace of development of socio-economic relations is a powerful impetus for the modernization of legislation, which in the conditions of globalization of markets should not only preserve the stability properties, providing a balance of private and public interests, but also create conditions for the further development of entrepreneurship.Legislation-designed models for regulating corporate relations and control are in the zone of close attention of business, regulators, and the legal community. Over the entire history of the development of corporate law, the legislator has not found the optimal form of combining the dispositive and peremptory regulation of corporate legal relations, providing an adequate reflection of economic realities and resolving the conflict of multidirectional interests of participants in corporate relations. The issues of choosing the priority of protected interests, determining the limits for exercising and protecting corporate rights, finding acceptable forms of concentration and implementing corporate control in business are relevant. The market knows a wide arsenal of multifunctional contractual methods for acquiring and splitting corporate control (repos, equity loans, options, swaps, derivatives, securities difference agreements, etc.) that ensure the private interests of investors and lenders. However, ensuring the freedom to exercise private interest in choosing a corporate control model presumes that the public interest is in the stability of turnover and the protection of an indefinite number of persons participating in it, which can be ensured through mandatory public disclosure of corporate control information in the corporation.In modern conditions, the legal regulation of the concentration and implementation of corporate control is a prerequisite for creating a healthy investment and business climate in the economy, guarantees for the interests of investors and participants of the corporation, which should be taken into account when developing corporate legislation. The definition and differentiation of the economic content and legal form of corporate control is necessary for the further development of mechanisms and models for the implementation and protection of corporate rights. The legal regulation of corporate control is not homogeneous and is not limited only to the subject of civil law regulation of corporate relations; according to industry, certain segments of corporate control relations can be regulated by competition and financial law.
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Khamitov, Bauyrzhan. "Retrospective analysis and forecasts of raiding in Kazakhstan." Naukovyy Visnyk Dnipropetrovs'kogo Derzhavnogo Universytetu Vnutrishnikh Sprav 1, no. 1 (March 29, 2021): 215–20. http://dx.doi.org/10.31733/2078-3566-2021-1-215-220.
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Under the conditions of the modern market economy in Kazakhstan, criminals actively use the mechanism of raider seizures of firms and enterprises. Despite the fact that raiding was popular in the 20th century, it is currently changing, the methods of raider seizures are improving, and it is sometimes difficult to distinguish between them and civil disputes. Modern practice shows that imperfect legislation, especially legislative gaps, is widely used for raider seizures. The article analyzes the emergence of raiding in Kazakhstan, its development, the current state, and also displays government measures to counter raiding at all its stages. According to statistical data, there is a low level of law enforcement of the norm providing for liability for raiding, which is an area of intersectoral legal regulation, carried out through the norms of civil, criminal and other branches of law. In some cases, the actions of the raiders can be qualified as a crime or as a civil offense. In this regard, it is necessary to clearly distinguish between corporate disputes and raiding. In addition, we believe that one of the reasons is the imperfection of the design of this article, which ultimately does not sufficiently implement the principle of inevitability of punishment. There are no market mechanisms in Kazakhstan, since most companies are non-public, and control over a company is the result of a combination of legal and illegal means and methods. Based on this, for a start it is necessary to improve the legislation governing the processes of mergers and acquisitions, to create favorable conditions for this. In other words, if we follow foreign experience, we need to simplify some of the ways to legalize, while creating an independent organization that would act as a disinterested link and would ensure the observance of the parties’ rights. Together with these mechanisms, the establishment of a corporate governance system, an increase in the transparency and openness of the activities of companies, the growth of professionalism and managerial discipline of managers will help stabilize the situation.
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Lai, Yu-Cheng, and Santanu Sarkar. "Gender equality legislation and foreign direct investment." International Journal of Manpower 38, no. 2 (May 2, 2017): 160–79. http://dx.doi.org/10.1108/ijm-08-2015-0133.
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Purpose The purpose of this paper is to examine the differences in the effects of gender equality legislation on employment outcomes among female and male workers in industries with different intensity of foreign investment (namely, foreign direct investment (FDI)-intensive industries and non–FDI–intensive industries). The specific employment outcomes that were studied to compare the effects of the legislation are the working hours, employment opportunities, and wages of female and male workers in Taiwan. Design/methodology/approach Using data from the annual Manpower Utilization Survey, the authors applied a differences-in-differences-in-differences estimation method to test the effect of gender equality legislation on employment outcomes. By using multinomial logit, the authors measured the effect of the legislation on employment opportunities. To correct for simultaneity and selectivity problems/biases, the authors adopted Heckman two-stage selection procedures. Likewise, the authors used weighted least squares to solve heteroskedasticity in the wage and working hour equations. Further, the instrumental variable (IV) method was used to correct for simultaneity bias in the equation on working hour. The authors applied three stages estimation method following Killingsworth’s (1983) approach to measure the effect of the legislation on wages and working hours. Findings The authors found the restrictions enforced by the gender equality legislation (namely the Gender Equal Employment Act (GEEA), enacted in 2002) in Taiwan to have made certain impact on the workers’ working conditions in FDI-intensive industries. The major finding indicated that in a country like Taiwan, where the legislature tried tilling the perpetual gender gap in its labour market, by passing a law to counter inequality, could finally narrow the gender gap in wages among workers in the FDI-intensive industries. Although initially after the enactment of the GEEA (between 2002 and 2004), the gender gap in part-timers’ wages has widened, yet over a period of time the gap in their wages too has narrowed down, particularly during 2005-2006. The legislation, however, could not improve the job opportunities for full-time female workers’ in FDI-intensive industries. Besides, post 2002, the female workers were found to have worked for shorter hours than male workers, which according to us, could be largely attributed to the enforcement of the GEEA. Practical implications An in-depth analysis of the labour market effects of gender equality legislation should be useful to policymakers, especially those interested in understanding the impact of legislative measures and policy reforms on labour market and employment outcomes across industry types. If enforcement of a gender equality legislation has succeeded in reducing the gender gap more in one set of industries than the others (e.g. foreign owned instead of domestic industries), as the authors noticed in this study, then the same should have a bearing on revamping of future enactment and enforcement too. Originality/value Current study findings would not only provide the broad lessons to the policymakers in Taiwan, but the results that have emerged from a country case study could be referred by other growing economies who are enthusiastic about improving female workers’ working conditions through legislative reforms.
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Osdoba, Wiktoria. "Kształtowanie jednolitej wspólnej regulacji rynków rolnych w Unii Europejskiej i Polsce." Studia Iuridica 72 (April 17, 2018): 295–308. http://dx.doi.org/10.5604/01.3001.0011.7623.
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Pending the entry into force of the Common Agricultural Organization of Agricultural Markets in 2007, there were twenty one coexisting industry market organizations as defined in the relevant basic EU regulations. Merging in one legal act the provisions of several dozen other EU regulations and looking at the single European market in a holistic and not sectoral way, illustrates the current way of running the Common Agricultural Policy, which seeks to comprehensively address the problems of the European agricultural market. From 1st September 2017, there has been a National Support Center for Agriculture, which took over the tasks of two liquidated agencies: the Agricultural Property Agency and the Agricultural Market Agency. Adaptation of the Polish legislation within the framework of agricultural policy will have to take into account the changes taking place in the Common Agricultural Policy in the future. From 1st October 2017, the sugar-producing quota system which existed for the last 50 years, setting the limits for individual Member States of the European Union, was terminated. This was the last system of agricultural quotas within the European Union. Following the harmonization of the Polish legislation with European standards, we are aware of the fact that the EU law is constantly facing changes.
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Connolly, Johnny. "Illicit drug markets, systemic violence and victimisation." Northern Ireland Legal Quarterly 68, no. 4 (December 21, 2017): 415–32. http://dx.doi.org/10.53386/nilq.v68i4.54.
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A common theme that runs throughout much of the literature on drug markets, drug-related crime and also the impact of drug law enforcement is how limited our understanding of them is. In the absence of research and reliable evidence, certain ‘taken for granted’ assumptions or stereotypes have emerged to fill the gaps in knowledge. Journalistic and television exposés, present a Hobbesian spectacle of an inherently violent world populated by ‘evil drug dealers’. These representations have also influenced legislative responses, particularly since 1996. In the Republic of Ireland, following the murder of journalist Veronica Guerin, a plethora of new draconian laws were introduced. This led to a form of legislation by ‘moral panic’ particularly in response to drug-related crime. Prior to the mid-1990s, Northern Ireland had largely avoided the growth in heroin consumption of the type associated with Dublin since the 1980s. High levels of police and military security and the anti-drug stance of many paramilitary organisations had a suppression effect on the importation, distribution and consumption of serious drugs. The Good Friday Agreement of 1998 led to the dismantling of the state security apparatus and a reduction in police numbers. This period also marks the beginning of a period of increased drug consumption and the establishment of heroin hotspots in a number of urban areas.
Despite this increased policy attention, drug use in Ireland has been found to be associated with increased levels of systemic violence: fights over organisational and territorial issues; so-called ‘gangland’ murders; disputes over transactions or debt collection; and the intimidation of family members and the wider ‘host’ communities in which local drug markets tend to take hold. Much of this victimisation remains hidden as fear of reprisal from those involved with the drug trade and a lack of confidence in the criminal justice system discourages reporting. This article reviews recent research evidence in this area and examines the implications for future policy responses.
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Wood, Donna J. "The Strategic Use of Public Policy: Business Support for the 1906 Food and Drug Act." Business History Review 59, no. 3 (1985): 403–32. http://dx.doi.org/10.2307/3114005.
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The 1906 Food and Drug Act is widely believed to be an early example of federal legislation designed entirely to protect consumers. Professor Wood shows that in fact many Progressive Era food and drug manufacturers had substantial interests in achieving passage of such a law and that they worked actively toward this end. In particular, the desire of businesspeople to secure advantage over domestic competitors and to expand markets to interstate and foreign commerce played a significant role in businesses' support for federal food and drug regulations. The article shows that the strategic use of public policy by business—a relatively recent development in theories of business-government relations—is by no means a new development in practice.
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Kalyanpur, Nikhil, and Abraham L. Newman. "Mobilizing Market Power: Jurisdictional Expansion as Economic Statecraft." International Organization 73, no. 1 (August 13, 2018): 1–34. http://dx.doi.org/10.1017/s0020818318000334.
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AbstractStates with large markets routinely compete with one another to shield domestic regulatory policies from global pressure, export their rules to other jurisdictions, and provide their firms with competitive advantages. Most arguments about market power tend to operationalize the concept in economic terms. In this paper, we argue that a state's ability to leverage or block these adjustment pressures is not only conditioned by their relative economic position but also by the political institutions that govern their markets. Specifically, we expect that where a state chooses to draw jurisdictional boundaries over markets directly shapes its global influence. When a state expands its jurisdiction, harmonizing rules across otherwise distinct subnational or national markets, for example, it can curtail a rival's authority. We test the theory by assessing how changes in internal governance within the European Union altered firm behavior in response to US extraterritorial pressure. Empirically, we examine foreign firm delisting decisions from US stock markets after the adoption of the Sarbanes–Oxley accounting legislation. The act, which included an exogenous compliance shock, follows the harmonization of stock market governance across various European jurisdictions. Econometric analysis of firm-level data illustrates that EU-based companies, which benefited from jurisdictional expansion, were substantially more likely to leave the American market and avoid adjustment pressures. Our findings contribute to debates on the role of political institutions in economic statecraft and suggest the conditions under which future regulatory conflicts will arise between status quo and rising economic powers.
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Peña, Francisco de la. "Gentle Brexit, a very British Exit: EEA Membership as the Most Favourable Model to Secure Financial Services Passports." European Business Law Review 27, Issue 7 (December 1, 2016): 1057–89. http://dx.doi.org/10.54648/eulr2016047.
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Predicting the impact of the anticipated UK exit from the EU on passporting is rather difficult as the nature of the future EU-UK trade relationship is still unknown as of November 2016. At one end of the continuum, if the UK were to leave the EU but remain in the EEA, most passporting rights would remain available to UK firms trading in the EEA (and vice versa). At the other end of the spectrum, if no specific EU-UK trading arrangements were agreed for financial services, whether under EFTA or a bespoke FTA, UK firms would lose their automatic right to trade across the EU (and vice versa). While the third country access provisions introduced in recent financial legislation could provide an alternative means to mitigate the effects of a full UK exit on the financial markets, once trading under WTO rules, negotiating equivalence could unfold a rather cumbersome process after which the UK would be unable to have effective control of new financial regulation and secure rights akin to existing passporting. Through an analysis of the financial services passports under the EU single market directives and the pros and cons of each of the available trading models post-Brexit, this article advocates that continued access to the Single Market under the EEA Agreement –in its current form or in an amended version–, should offer the UK the most favourable framework to secure passporting –safeguarding jobs, economic growth and predictability for UK, EU and non-EU firms–, while retaining certain control over the internal market rules and possibly immigration.
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Kharitonova, Julia S., and Larisa V. Sannikova. "DIGITAL FINANCIAL TOOLS FOR SOCIALIZING PRIVATE LAW." Vestnik Tomskogo gosudarstvennogo universiteta. Pravo, no. 39 (2021): 208–24. http://dx.doi.org/10.17223/22253513/39/16.
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Nowadays, the law is being transformed as a regulator of relations. The idea of strengthe-ning the regulatory role of technologies in the field of streamlining public relations is making much headway in the world. This trend is most pronounced in the area of regulation of private relations. The way of such access to the market as crowdfunding is becoming increasingly widespread. The issuing of the so-called secured tokens is becoming popular for both small businesses and private investors. The trust in new ways of attracting investments is condi-tioned by the applied technology - the use of blockchain as a decentralized transparent data-base management system. Under these conditions, there is such a phenomenon as the democ-ratization of property relations. Every individual receives unlimited opportunities to invest via technologies. Thus, legal scholars all over the world face the question about the role of the law and law in these relations? We believe that we are dealing with such a worldwide trend of regulating public relations as the socialization of the law. Specific examples of issuing tokens in Russia and abroad show the main global trends in the transformation of private law. The platformization of economics leads to the tokenization and democratization of property relations. In this aspect, the aim of lawyers should be to create a comfortable legal environment for the implementation of projects aimed at democratizing property relations in Russia. The socialization of private law is aimed at achieving social jus-tice and is manifested in the creation of mechanisms to protect the rights of the weak party and rules to protect private investors. Globalization requires the study of both Russian and foreign law. To confirm their hypothesis, the authors conducted a detailed analysis of the legislation of Russia, Europe and the United States to identify the norms allowing to see the process of socialization of law in the above field. The generalization of Russian and foreign experience showed that when searching for proper legal regulation, the states elect one of the policies. In some countries, direct regulation of ICOs and related emission relations are being created, in others, it is about the extension of the existing legislation to a new changing tokenization relationship. The European Union countries are seeking to develop common rules to create a regulatory environment to attract investors to the crypto industry and protect them. Asian countries are predominantly developing national legislation in isolation from one another, but most of them are following a unified course to encourage investment in crypto assets while introducing strict rules against fraud on financial markets. The emphasis on the protection of the rights of investors or shareholders, token holders by setting a framework, including private law mechanisms, can be called common to all approaches. This is the aim of private law on the way to social justice.
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Leopold, Christine, Rebecca L. Haffajee, Christine Y. Lu, and Anita K. Wagner. "The Complex Cancer Care Coverage Environment — What is the Role of Legislation?" Journal of Law, Medicine & Ethics 48, no. 3 (2020): 538–51. http://dx.doi.org/10.1177/1073110520958879.
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Over the past decades, anti-cancer treatments have evolved rapidly from cytotoxic chemotherapies to targeted therapies including oral targeted medications and injectable immunooncology and cell therapies. New anti-cancer medications come to markets at increasingly high prices, and health insurance coverage is crucial for patient access to these therapies. State laws are intended to facilitate insurance coverage of anti-cancer therapies.Using Massachusetts as a case study, we identified five current cancer coverage state laws and interviewed experts on their perceptions of the relevance of the laws and how well they meet the current needs of cancer care given rapid changes in therapies. Interviewees emphasized that cancer therapies, as compared to many other therapeutic areas, are unique because insurance legislation targets their coverage. They identified the oral chemotherapy parity law as contributing to increasing treatment costs in commercial insurance. For commercial insurers, coverage mandates combined with the realities of new cancer medications — including high prices and often limited evidence of efficacy at approval — compound a difficult situation. Respondents recommended policy approaches to address this challenging coverage environment, including the implementation of closed formularies, the use of cost-effectiveness studies to guide coverage decisions, and the application of value-based pricing concepts. Given the evolution of cancer therapeutics, it may be time to evaluate the benefits and challenges of cancer coverage mandates.
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BRADY, MICHELLE. "Targeting single mothers? Dynamics of contracting Australian employment services and activation policies at the street level." Journal of Social Policy 47, no. 4 (April 10, 2018): 827–45. http://dx.doi.org/10.1017/s0047279418000223.
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AbstractActivation reforms targeted at single parents simultaneously construct them as a legitimate target for activation policy and subject them to new obligations to engage in paid work or education/training. The social policy literature has established that the work of ‘making-up’ target groups occurs at the street level as well as in government legislation. The street level has become even more significant in recent years as there has been a shift towards establishing quasi-markets for the delivery of welfare-to-work programmes and organising these around the principles of performance pay and process flexibility. However, what is largely missing from the existing literature is an analysis of how contract conditions, together with individuals' activation obligations, shape how they are targeted at the street level. Drawing on a study conducted over eight years with agencies in Australia's quasi-market for employment services, this paper argues that the changes to the contracts for governing this market changed how Australian single mothers were targeted by employment services. Over time there was a shift away from making-up single-parent clients as a distinct, vulnerable target group and a shift towards viewing them in terms of risk categories described within the agencies’ contracts.
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D'Alessandro, Giampiero. "The alternative dispute resolution system in Italy: between harmonization with the requirements of European markets and de-juridicalization." REVISTA BRASILEIRA DE ALTERNATIVE DISPUTE RESOLUTION 1, no. 1 (June 1, 2019): 77–100. http://dx.doi.org/10.52028/rbadr.v1i1.4.
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The topic of Alternative Dispute Resolution is comprehensively presented in Italy because of two different demands. The first is a demand presented at the European level to adopt measures that are meant to align the legal and regulatory provisions of different member States, even through the development of alternative methods for dispute resolution, in order to guarantee better access to justice at large, and this can be done through the use of supplemental and alternative dispute resolution methods which are of equal dignity to court proceedings. The second demand is presented at the national level and aims respond to the slowness of local court proceedings through so-called de-juridicalization, where legislations pertaining to A.D.R were supplemented with emergency measures that now include alternative tools among them. This complex tableau led to the creation of very detailed tools for dispute resolution on the civil front, tools that were often borrowed from foreign experiences. This paper wishes to offer a general framework of the principal players, without necessarily being exhaustive. In fact, in addition to Arbitration, which finds its origins in the Civil Code, Italian regulators have added over time procedures for civil and commercial mediation, assisted negotiation, settlement procedures for overindebtedness crisis and mediation on matters of energy and telecommunications and, more in general, on consumer matters. Some of these tools take on a principally deflationary function on matters of civil disputes where these same tools are considered necessary and constitute a condition of admissibility to be able to start legal proceedings. Faced with this complex tableau, in 2016 the Italian Ministry of Justice established a research committee, composed of professors, judges, lawyers and notaries who were entrusted with the task reassessing organically the matter with the aim of developing “de-juridicalization” tools using mediation, assisted negotiations and arbitration. In January 2017, this Commission, at the end of its tenure, presented a series of proposal to modify the legislation that was then in force. These proposals are to this day still under consideration by the Ministry of Justice. The establishment of the aforementioned Commission seemed justified because of the imminent termination of the implementation period for the compulsory mediation required by law for some disputes on civil and commercial matters, pursuant to Article 5, para. 1-bis, of Legal Decree 28/20106 that, instead, found a solution after changes made to convert Legislative Decree No. 50, April 24, 2017,7 through the so-called corrective action of 2017, into Law No. 96 of June 21, 2017.
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Clift, Ben. "French Corporate Governance in the New Global Economy: Mechanisms of Change and Hybridisation within Models of Capitalism." Political Studies 55, no. 3 (October 2007): 546–67. http://dx.doi.org/10.1111/j.1467-9248.2007.00655.x.
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This article analyses the implications of the internationalisation of capital markets, and the influx of Anglo-Saxon institutional investors, for the French model of capitalism. Its central contention is that the global convergence thesis misrepresents contemporary evolutions because it pays insufficient attention to mechanisms of change within models of capitalism. Secondly, framing analysis in terms of hybridisation and fragmentation of national models, rather than convergence, offers greater explanatory purchase over the French model, constitutes a more accurate characterisation, and helps avoid the ‘convergence or persistence’ impasse within models of capitalism analysis. In exploring French corporate governance, it emphasises the importance of specifying the role of institutional mechanisms as transmission belts of change as a precursor to an assessment of how far shifts in international political economic context bring about changes within French capitalism. Focusing on financial market regulation regime, new legislation in corporate governance and company law, and the market for corporate control as three key potential mechanisms of change, it finds that pre-existing norms and structures endure, mediating the nature of a national political economy's articulation with the international context. Hybridisation and recombination of capitalist institutions drawn from different models provide a far more persuasive account than convergence.
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Hernández-López, Ernesto A. "GMO Corn in México: Precaution as Law’s Decolonial Option." Law, Technology and Humans 2, no. 2 (November 21, 2020): 97–113. http://dx.doi.org/10.5204/lthj.1479.
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For over six years now, the law has been central to policy debates about genetically modified organism (GMO) corn in México, the birthplace of maíz (corn). In the lawsuit Colectividad del Maíz, the domestic courts have shaped the policy on GMO corn. Out of concern for biodiversity, the courts have suspended regulatory approval for commercial GMO corn permits needed by seed companies. This article uses decolonial theory to examine how the law can both encourage and limit the use of GMOs. Decolonial perspectives isolate how economics, legal authorities, and ideologies work in unison to shape relations between the Global South and private interests. This is accomplished by defining the subject of any such legal regulations. Different legal doctrines treat GMOs in different and distinct ways. Under the doctrines of biosecurity, intellectual property, and international trade law, markets and biotechnology benefit as the subject of the law. Such doctrines disenfranchise maíz nativo (non-GMO corn) by making it the law’s object. The article also adopts Bruno Latour’s theory of “down to earth” politics to identify important changes in GMO regulations. Collective action litigation has limited the expansion of GMO corn via the application of precautionary principle measures and motivated new legislation in México.
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Chang, Jiwen. "China's Legal Response to Trafficking in Wild Animals: The Relationship between International Treaties and Chinese Law." AJIL Unbound 111 (2017): 408–12. http://dx.doi.org/10.1017/aju.2017.104.
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In China, the wild animals and animal products that are sold through illegal trafficking are mainly those that can be made into medicines; are raw materials in the form of ivory, rhinoceros horns, and turtle shells; and are edible or have ornamental value, such as birds, monkeys, turtles, and lizards. Due to its rapid economic development over the past decade, China has become one of the world's largest wildlife markets. The main reasons for trafficking are a lack of viable substitutes for raw materials used in traditional Chinese medicines (e.g., bear bile, bear bile powder, pangolin, and other products); a preference in traditional food culture for delicacies made from wildlife; and of the private consumption by some rich and corrupt government officials of tiger's meat, bear's paw, pangolin and other wild animal products—bear's paw and pangolin being the most popular. This type of wild animal trafficking endangers the safety of animal species protected by the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), and damages the international image of the government and people of China. Since 2013, under the frame of construction of ecological civilization, China has taken stricter measures on legislation, administrative enforcement, judicial adjudication, and international cooperation on prevention and punishment of illegal trafficking.
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Sidney, Mara S. "Images of Race, Class, and Markets: Rethinking the Origin of U.S. Fair Housing Policy." Journal of Policy History 13, no. 2 (2001): 181–214. http://dx.doi.org/10.1353/jph.2001.0006.
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As the first national law to address racial discrimination in housing, the 1968 Fair Housing Act was truly a landmark piece of legislation. It prohibited homeowners, real-estate agents, lenders, and other housing professionals from engaging in a range of practices they had commonly used to keep neighborhoods racially segregated, such as refusing to sell or rent to a person because of his or her race, lying about the availability of a dwelling, or blockbusting (inducing white owners to sell by telling them that blacks were moving into the neighborhood). The last of the 1960s-era civil rights laws, the Fair Housing Act tackled the arena long felt to be the most sensitive to whites. Intense controversy, demonstrations, and violence over fair housing issues had occurred in many cities and states since at least the 1940s. Although John F. Kennedy promised during his presidential campaign to end housing discrimination “with the stroke of a pen,” once elected, he waited two years to sign a limited executive order. In 1966, a fair housing bill supported by President Johnson failed in Congress. Unlike other civil rights bills, the issue of housing evoked opposition not just from the South but also from the North. Opponents claimed that it challenged basic American values such as “a man's home is his castle”; to supporters, the symbolism of homeownership as “the American Dream” only underscored the importance of ensuring that housing was available to all Americans, regardless of race.
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Mamavi, Olivier, Haithem Nagati, Frederick T. Wehrle, and Gilles Pache. "Out of sight, out of mind? Supplier spatial proximity in French public procurement." International Journal of Public Sector Management 27, no. 6 (August 5, 2014): 486–500. http://dx.doi.org/10.1108/ijpsm-02-2014-0032.
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Purpose – The purpose of this paper is to study the impact of spatial proximity on supplier selection in the French public sector. While French public procurement legislation forbids consideration of supplier location in the procurement process, public contractors may still rely on spatial proximity for complex transactions necessitating mutual adjustments with suppliers. Design/methodology/approach – Using French Official Journals (BOAMP), the authors compiled 565,557 transactions completed on three public procurement markets between 6,182 contractors and 26,570 suppliers, over a period of six years (between 2006 and 2011). The authors conducted a two-level hierarchical linear auto-regression analysis and a feature evaluation analysis for all transactions. Findings – The paper finds significant variation between the transactions on different markets: a negative effect of spatial proximity on the number of contract notices in the public market and a positive effect of spatial proximity on the number of notices in the services and supplies markets. The difference lies in the levels of mutual adjustment required to optimally manage the relationship between public contractor and supplier. Research limitations/implications – The research is based on an econometric analysis conducted uniquely in the French context, which calls into question the external validity of the results obtained. The study also rests on segmentation into three aggregate markets, which might be considered too general. Originality/value – Rather than analyze public contractors’ perceptions of the importance of the criterion of spatial proximity, the paper examines 565,557 actual transactions. The results point to the emergence of a new type of relationship with certain suppliers, which should lead public contractors to integrate relationship management competencies, in addition to legal and economic competencies, in the organization of calls for tenders.
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Minto, Andrea, and Niels Skovmand Rasmussen. "Approaching the Danske Bank Scandal in a “Tragedy of the Commons” Perspective: Implications for Anti-Money Laundering Institutional Design and Regulatory Reforms in Europe." European Company and Financial Law Review 19, no. 2 (April 1, 2022): 305–38. http://dx.doi.org/10.1515/ecfr-2022-0010.
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Abstract Policy- and law-makers worry increasingly about how recent money laundering scandals unfolded. There is widespread confusion, though, about what went wrong – “the failures” – and uncertainty as to how to control and cope with them. This article offers a conceptual framework and legal analysis for examining the underpinning “failures”, what causes them, and how, if at all, those failures interact with each other. In doing so, it disentangles three layers, namely “corporate failure”, “supervisory failure”, and “political failure”. Historically, scholars have tended to think of each of those failures separately. However, we believe that a greater focus should be devoted to whether and how the three failures exhibit interactions and even feed on one another. This holistic perspective reveals that scandals such as the one in Danske Bank might result from a type of “tragedy of the commons” in which each layer – corporate, supervisory, and political – generate significant asymmetries of information between parties and actors, exacerbating the agency problems which pervade financial markets. The article will apply Elinor Ostrom’s IAD (Institutional Analysis and Development) framework as to account for the complexity and interconnection in financial markets. Such framework is used to examine the recent developments in policy- and law-making in European anti-money laundering legislation. Not only does the IAD framework explain how the supervisor failure escalated and spilled over but it also sheds new light on why it happened. Together these insights are critical in a legal policy evaluation as they allow scholars to look pass the mere effects of the supervisory failure and focus diligently on the underlying causes. From a purely methodological perspective, it thus demonstrates the added value of incorporating an institutional analysis in doctrinal legal research.
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Latimer, Paul. "It's Time for Federal Regulation of Retirement Villages." Federal Law Review 45, no. 3 (September 2017): 469–93. http://dx.doi.org/10.22145/flr.45.3.5.
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As Australia's population ages, increasing numbers of seniors move to a growing number of retirement villages. Unlike time shares, which are ‘managed investment schemes’ and therefore regulated as ‘financial products’ under corporate law administered nationally by the Australian Securities and Investments Commission (ASIC), the Commonwealth withdrew from the regulation of retirement villages in the 1980s on the basis that at that time they were local, usually run by religious bodies and charities and were not of national concern. The regulation of retirement villages was taken over by the states and territories under their non-uniform Retirement Villages Acts and the common law. Until then retirement villages, often indistinguishable from Commonwealth regulated timeshares, were regulated in the original State and Territory Uniform Companies Acts in 1961 as ‘interests’, and then in later Commonwealth legislation as ‘prescribed interests’ by the forebear of ASIC, the then National Companies and Securities Commission (NCSC) with the State and Territory Corporate Affairs Commissions as its ‘delegates’. Today retirement villages, which are largely owned and managed by the corporate sector, raise many issues of national concern such as accountability, fees and the rights of residents. Some aspects of retirement villages such as directors’ duties, fundraising, prospectuses and unregistered schemes are regulated as corporations by ASIC under the Corporations Act 2001 (Cth), but retirement villages are not regulated as ‘financial products’ under corporate law. This article challenges the effectiveness of state and territory regulation of retirement villages and calls for federal regulation of retirement villages by bringing retirement villages into the definition of ‘financial product’ in the Corporations Act 2001 (Cth) and in the Australian Securities and Investments Commission Act 2001 (Cth). As financial products, retirement villages would then be regulated by Commonwealth legislation which deals with financial services and financial markets, as regulated by ASIC. These laws include consumer protection provisions such as the prohibition of misleading or deceptive conduct, unfair contract terms, unconscionable conduct, licensing and high standards for those in the retirement village industry. This would result in a return to Commonwealth leadership of the regulation of retirement villages to harmonise and to consolidate the current mix of state and territory regulation with federal legislation including an enforceable Retirement Villages Code of Conduct.
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Bostan, Ionel. "Juridical Tools of Governmental Nature Used to Mitigate Various Difficulties of the Financial and Budgetary System." Annals of the Alexandru Ioan Cuza University - Economics 61, no. 2 (December 1, 2014): 133–48. http://dx.doi.org/10.2478/aicue-2014-0010.
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Abstract The lack of supervision and thorough regulation of the financial system, by virtue of the exercise of the principle of laissez-faire, is likely to lead to imbalances with destructive consequences on the standard of living and savings of the population. The global crisis which started in 2007 is the most illustrative example in this regard. This has highlighted the inability of the regulatory and supervisory institutions to adapt to the realities of the market. As a result, nowadays authorities are still concerned with restoring the balance between the freedom of the markets, firms and financial products and their appropriate regulation. The anticipated result: the installation of the sustainable growth. This requires the existence of a more transparent financial system, with severe rules in accounting/accounting reporting of assets and a mechanism for ensuring the integrity of the financial markets. We must assert that lately there has been a certain intensification of the intervention of the executive authority/government by juridical means (government ordinances and decisions) in the economic and business system, due, as we will show, to the deterioration of the financial problems. Therefore, in this paper we seek to emphasize the specific manner in which the national executive authority was involved in the direction shown. Obviously, we address the topic from the perspective of the economic and financial legislation, also considering the budgetary aspects and, to some extent, certain elements of impact. To this end, we used the most recent law and economic/financial bibliography, reports issued by prestigious specialized institutions and also the substantiation notes drafted by the governmental factors when adopting normative acts of the type described above, as the issue in question concerned us over the last five years.
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ZAITCEVA, LARISA V., and TATYANA V. LUZINA. "LABOR LEGISLATION AS A TOOL FOR ENSURING MIGRATION SAFETY." Proceedings of the Institute of State and Law of the RAS 14, no. 5 (December 12, 2019): 168–95. http://dx.doi.org/10.35427/2073-4522-2019-14-5-zaitceva-luzina.
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The labor legislation may have an impact on the level of migration safety in the country. On the one hand, it provides conditions for improvement of the labor force mobility domestically through the establishment of guarantees and compensations due to relocation to another region. On the other hand, the labor legislation ensures control over legal external labor migration and protects internal labor market against illegal migrants and social damping in respect of labor conditions through the establishment of special diferentiation of legal regulation of labor of foreign citizens and individuals without citizenship.Russia demonstrates a traditionally low level of internal labor mobility, the fact that results in preservation of localization of regional labor markets and prevents from efficient usage of labor force. The main challenges in this area are the matters related to provision of housing for displaced persons which is beyond the scope of regulation by the labor legislation.The legal instruments ensuring the exercise of temporary internal labor mi gra-tion are associated with such forms of labor organization as work on a rotational basis, seasonal work, and outstaffing. Remote working can be roughly attributed to such forms.In the Russian Federation citizens still face an employment problem if they do not have registration at their place of residence. The regulations of the labor legislation on prohibition of discrimination, inter alia, based upon place of residence, availability or lack of registration at one’s place of residence as well as regulations on administrative liability for the respective acts serve as sufficient legal remedies against illegal refusal to recruit. The problems of efficiency of such remedies are to a large extent linked to procedural aspects — dissemination of general rules for the shared burden of proof on disputes on discrimination in labor sector.The issues of external migration are governed primarily by the standards of ad mi nistrative law. The labor legislation regulates labor relationships with the participation of foreign citizens and individuals without citizenship and establishes features for regulation of their labor not forming discrimination. Along with this, there are problems to be resolved. The following can be identified. The regulations of the Labor Code of RF governing features for temporary transfer of foreign employees and the related additional grounds for termination of labor contract bring instability into such labor relationships and provide a context for abuses on the part of employer. Regardless the fact that the legislation doesn’t prohibit remote working for foreign citizens, the Ministry of Labor and Social Security of RF considers it impossible to conclude an employment contract on remote working with a foreign employee residing abroad. Moreover, the Russian legislation doesn’t provide for a possibility to conclude an employment contact in the languages of both parties as stipulated in Guidelines No.86 of the International Labor Organization "On migrant workers" (revised in 1949).It is necessary to continue improving the labor legislation for the purposes of facilitating internal labor mobility, protecting employees against discrimination and malpractices of socio-labor damping.
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Briano Turrent, Guadalupe del Carmen, Eva Argente Linares, María Victoría López Pérez, and Lázaro Rodríguez-Ariza. "Corporate governance in Latin America and Spain: a comparative study of regulatory framework." Corporate Ownership and Control 7, no. 4 (2010): 427–41. http://dx.doi.org/10.22495/cocv7i4c4p2.
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Based on institutional theory, this study presents a comparative analysis of the regulatory framework for corporate governance to be found in the most important emerging markets in Latin America (Argentina, Brazil, Chile and Mexico), which represent most of the stock market capitalization in the region. In addition, we analyzed the situation of Spain, representing the European economy, given this country’s strong investment presence in the Latin American stock market. The aims of the study are: 1) to extend the current literature related to corporate governance in Spain and emerging Latin American economies; 2) to highlight the evolution of the institutional and regulatory framework for corporate governance in these countries; and 3) to compare the diverse regulatory framework, with particular focus on the laws and corporate governance codes in the above mentioned countries. Despite the trend for international convergence of corporate governance systems toward the Anglo-Saxon model, both in legislation and in good governance codes, there are significant differences between countries. The present convergence is promoted by different institutions; systems differ, thus, in their implementation and application of good governance practices. The countries in question have adopted a hybrid model based, on the one hand, on laws and decrees, and on the other, on the voluntary adoption of codes of good governance. The aim of these measures is to enhance investor protection, to define the functions of the Board and of the Audit Committee, and to improve transparency, especially regarding conflicts of interest, related party transactions and corporate risk for listed companies. The evidence presented in this paper suggests that Argentina, Brazil and Chile have strengthened their legislation in the case of minority investor protection and market transparency (Circular No. 3531 in Argentina, Law No. 10303 in Brazil and the Take-over Law in Chile). On the other hand, Mexico and Spain have issued regulations focused on transparency information (the Transparency Law in Spain and the CUE Circular in Mexico). Codes of good governance have been adopted by all countries except Chile, which bases its corporate governance on the OPAs (Take-over bids) Act. The practices addressed in corporate governance codes are focused on the Board, whose main function is to monitor and supervise management performance. These codes contain a set of recommended practices defining the functions, structure, composition and creation of different committees that support the Board, together with aspects related to COB-CEO duality. Spain and Chile are the countries that have adopted most such practices. The audit function is another important corporate governance dimension in the codes, concerning the role, liabilities and composition of the Audit Committee. This body is responsible for ensuring full and transparent disclosure of company transactions. Mexico is the country that pays most attention to the audit function. Practices relating to the general meeting, disclosure, conflicts of interest and Board support committees are established in all governance codes, especially in Argentina, Brazil and Mexico.
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SIRIWAT, PENTHAI, and VINCENT NIJMAN. "Using online media-sourced seizure data to assess the illegal wildlife trade in Siamese rosewood." Environmental Conservation 45, no. 4 (March 15, 2018): 352–60. http://dx.doi.org/10.1017/s037689291800005x.
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SUMMARYThe illegal wildlife trade is covert by nature, and thus is often challenging to study. Seizure data is traditionally the most common means to gain insight into the trade for many species. Online media-sourced seizure records were applied to study the illegal trade of Siamese rosewood (Dalbergia cochinchinensis), one of 33 timber species of hongmu (rosewood), which is logged to produce luxury products predominantly for Chinese markets. Despite recent international pressure to strengthen the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) regulations, illegal trade of Siamese rosewood is prevalent in its range states. This paper will explore seizure reports in Thai online media and analyse spatial, temporal and other factors that potentially explain the trade. Between January 2014 and April 2016, 835 independent seizures were reported in 37 of 76 provinces in Thailand. Seizures occurred mostly in the north-eastern and eastern provinces with higher numbers of seizures closer to the border. The number of seizure reports decreased over time, and the average number of logs seized per seizure was consistent over the 28-month study period. Inadequate domestic legislation is a key factor facilitating the trade. Improvements are needed to the legislation and enforcement ahead of implementing other regional timber-specific initiatives and regulations. In this specific context, CITES also appears to be unacknowledged and ineffective in hampering the Siamese rosewood trade. Importantly, we find that using media-sourced seizure data is highly apt in Thailand's context, considering Thailand's sensitive political state and the prevalence of trade in other non CITES-listed rosewood species. The approach demonstrated here is applicable to many other wildlife species.
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Timoshenko, Nataliia M. "Financial Monitoring in the Securities Market of Ukraine." Business Inform 10, no. 537 (2022): 175–80. http://dx.doi.org/10.32983/2222-4459-2022-10-175-180.
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The purpose of the article is to study the current status of financial monitoring carried out in the securities market of Ukraine. The article analyzes the activities of the entities of the State-based financial monitoring and primary financial monitoring in the stock market of Ukraine. Their main functions and tasks in the financial monitoring system are distinguished. Based on the carried out research, it is concluded that securities are often used in illegal schemes (withdrawal of assets outside Ukraine, minimization of tax liabilities, tax evasion, etc.) that precede the laundering of criminal income. One of the risky instruments of the financial market was also the purchase and sale of domestic government bonds. On the one hand, this type of securities can be considered one of the most reliable financial instruments due to its high liquidity and wide range of applications. At the same time, the high demand and peculiarities of execution of contracts concluded on the stock exchange for the purchase/sale of domestic government bonds make them attractive in schemes of legalization of illegal income, especially for public figures who must declare their wealth. Considering the nature of reports of violations of securities transactions, it can be concluded that there is a high proportion of possible schemes for legalizing dirty funds. Under martial law, there have been significant changes in the process of identification and verification of clients of the primary financial monitoring entities in order to simplify the purchase of government securities. Thus it is worth noting that the largest share of violations of financial legislation falls on government bonds, which have become available to various categories of investors (including individuals). This fact may contribute to the emergence of new schemes for laundering (legalization) of proceeds from crime. Therefore, the entities of the State-based financial monitoring should develop a system of hedging risks regarding the placement of government bonds among different categories of investors. This is especially true of the over-the-counter market. It is worth noting that this segment of the stock market is under the partial control of the national depository of the NBU. Therefore, it is proposed to create an entity in the securities market that would adopt the functions of controlling and preventing fraudulent and manipulative actions with securities.
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Alunaru, Christian. "Maßnahmen der rumänischen Regierung zur Abfederung der verheerenden Folgen der Schweizer Franken-Kredite." osteuropa recht 66, no. 1 (2020): 75–103. http://dx.doi.org/10.5771/0030-6444-2020-1-75.
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The crisis of financial markets has resulted in dramatic discrepancies between the major currencies. The unforeseen, significant rise in the value of the Swiss franc has in turn led to a very high exchange rate between the Romanian currency (RON) and the Swiss franc, impacting many debtors of Romanian citizens who had concluded Swiss franc loan agreements, and who had then become unable to pay off their loans anymore in the light of the higher exchange rate. In order to alleviate these harsh consequences, the Romanian legislator has passed a law, providing for alternative means of debt payments, namely through so-called “transfer in lieu of payment.” This article analyses this statutory solution, shedding light on problems resulting from this legal institute, in particular in the context of Romanian and European jurisdiction. It concludes that “transfer in lieu of payment” has turned out to be an unfavorable legal instrument - in contrast to other, already well established legal solutions for these particular cases - such as resolving disputes between debtors and creditors over CHF debt payments through legislation on unfair contract terms, or private insolvency rules.
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Boscheck, Ralf. "Constraining Drug Supply: Product Positioning, Patent Protection and Regulatory Standards." World Competition 31, Issue 4 (December 1, 2008): 485–98. http://dx.doi.org/10.54648/woco2008041.
Full textAbstract:
On both sides of the Atlantic, fast growing drug expenditures and an apparent slow–down in the introduction of new pharmaceutical compounds and generics had rekindled antitrust concerns. Yet while the EU Commission was entering largely uncharted territory, US authorities seemed guided by relevant legislation and case law that has no equivalent in Europe. Still, the US experience so far also shows that public outcries over high–profi le cases are no substitute for a dispassionate assessment of conflicting incentives, inconsistent regulatory standards and essential welfare trade–offs. In fact, it suggests the need to reconsider fundamental policy options and to establish efficient rules so as to ensure a competitive supply of innovative drugs. Contemplating the US experience, this article is organised in five parts. By way of introduction, Part I links US healthcare expenditures, drug research costs and elements of drug regulation and reimbursement to identify four corporate imperatives for product positioning and life–cycle management. Part II focuses on the economics of innovation and intellectual property rights and the need to challenge patents. Part III outlines the structure of the Hatch–Waxman Act, intended to speed up generic substitution, and discusses the evolution of US court decisions on patent settlements in the wake of it. Part IV offers some considerations for modifying the application of Hatch–Waxman rules as well as the processes for contesting patents and pharmaceutical product markets. Part V sums up and links back to the current EU initiative
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Ukwueze, Festus. "Cryptocurrency: Towards Regulating the Unruly Enigma of Fintech in Nigeria and South Africa." Potchefstroom Electronic Law Journal 24 (August 20, 2021): 1–38. http://dx.doi.org/10.17159/1727-3781/2021/v24i0a10743.
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One of the most modern inventions of financial technology (FinTech) since after the global financial crisis of 2008 is the crypto or virtual currency/asset. Since the creation of the first cryptocurrency, the Bitcoin, in 2009, it is estimated that over five thousand variants of the Bitcoin and other cryptocurrencies have emerged. Virtual currencies have become widespread across the globe but their legal status and uses in various countries have remained uncertain. They have been variously classified as currencies, securities, properties, assets, commodities and tokens, and used as means of exchange but are not legally recognised as legal tender. In many jurisdictions their emergence was greeted with scepticism and express or tacit rejection by financial and securities markets regulators, but over time, owing to their increasing popularity, characteristics, positive and negative potentials, there has been a gradual shift towards their formal recognition and regulation. Regulatory authorities in many countries are now grappling with designing appropriate policy and regulatory framework for the crypto phenomenon. This paper interrogates the current legal status and efforts to regulate cryptocurrencies in two leading African nations, Nigeria and South Africa, and highlights the challenges of designing an appropriate regulatory framework for this enigmatic technology. The paper adopts the doctrinal legal research methodology, employing the descriptive, analytical, and comparative approaches. It follows a structured review and analysis of relevant extant legislation on currencies and securities in the countries to ascertain whether they cover cryptocurrencies. It then compares the current position of the law on the subject in the two countries. Bearing in mind that it may not be possible to totally ban dealing in cryptocurrencies, the paper concludes that regulation has become imperative. Drawing from the position on the subject in more developed nations, the United States of America (US) and the European Union (EU), this paper proposes a model of regulation of virtual currency not only for Nigeria and South Africa but also for other African countries.
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Moore, R. K., and R. M. Willcocks. "SOME COMMERCIAL ASPECTS OF PETROLEUM EXPLORATION AND MINING." APPEA Journal 25, no. 1 (1985): 143. http://dx.doi.org/10.1071/aj84014.
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The petroleum industry in Australia is at the centre of a web of complex laws. In addition to the legislation under which petroleum exploration and production tenements are granted there is a multiplicity of statutes and regulations, Commonwealth and State, which have a direct bearing on the conduct of those involved in exploring for or exploiting Australia's petroleum reserves. For example, the level of participation by foreigners is governed by the Commonwealth Foreign Investment Guidelines and the Foreign Takeovers Act 1975; the Commonwealth has control over the export of petroleum under the Customs (Prohibited Exports) Regulations and domestic markets are subject to the operation of the Crude Oil Allocation Scheme. The Commonwealth continues to have the right to regulate the transfer of funds to and from Australia under the Banking (Foreign Exchange) Regulations. Certain States such as South Australia and New South Wales have their own foreign investment guidelines.Not only this, there are revenue laws which govern very much the way in which petroleum projects are organised, interests transferred and otherwise dealt with and finance made available, such as State stamp duty legislation, Commonwealth income tax laws, and Commonwealth legislation imposing registration fees on dealings in exploration permits and production licences. A new tax, Resource Rent Tax, is to be introduced.Then there are laws which have an indirect bearing on petroleum activities such as the Companies Code which, in addition to governing the administration and organisation of companies, controls the way funds can be raised.The statutory and regulatory framework is only part of the picture. The rights and obligations of participants in petroleum projects as between themselves are almost always set out in a joint venture or joint operating agreement, the combination between the participants being known as an unincorporated joint venture. This form of business organisation is not a partnership; it is not the creature of legislation. Indeed it has been rarely referred to in Acts of Parliament. Problems arising under the joint venture agreement will be considered against the backdrop of the general law which unfortunately has seldom been called upon to resolve disputes between participants in joint ventures. An illustration of one of these rare instances is Brian Pty Ltd v United Dominions Corporation Ltd (1983), where the New South Wales Court of Appeal considered the fiduciary relationship of joint venturers.Despite this legislative and regulatory' backdrop and the uncertainties as to the true effect of joint venture agreements, the industry up until quite recently has survived with little litigation. This is no longer the case. Recent and pending litigation shows that there is no reluctance on the part of participants to take their disputes to court, often at great expense and with unfortunate results for previously close relationships. It must now be said that money spent to achieve proper and clear agreement on organisational and legal matters at the earliest stage of a project is money just as well spent as that on drilling and other operational activities.
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Melone, Matthew. "Pub. L. No. 86-272 and the Anti-Commandeering Doctrine: Is This Anachronism Constitutionally Vulnerable After Murphy v. NCAA?" Michigan Business & Entrepreneurial Law Review, no. 9.2 (2020): 201. http://dx.doi.org/10.36639/mbelr.9.2.pub.
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State taxing authority suffers from little of the structural impediments that the Constitution imposes on the federal government’s taxing power but the states’ power to tax is subject to the restrictions imposed on the exercise of any state action by the Constitution. The most significant obstacles to the states’ assertion of their taxing authority have been the Due Process Clause and the Commerce Clause. The Due Process Clause concerns itself with fairness while the Commerce Clause concerns itself with a functioning national economy. Although the two restrictions have different objectives, for quite some time both restrictions shared one attribute—a taxpayer physical presence test. Business practices evolved in response to technological developments and the ability of enterprises to avail themselves of a forum state’s markets with little or no traditional physical presence in the state resulted in the elimination of the physical presence test for Due Process purposes almost thirty years ago. The subsequent exponential growth of electronic commerce finally led to the demise of the physical presence test for Commerce Clause purposes as a result of the Court’s recent decision in South Dakota v. Wayfair. However, a six decades old statute remains an impediment to the states’ ability to exercise income tax jurisdiction over the income earned by remote sellers of tangible personal property. In a case unrelated to state taxing authority during the same term, the Court in Murphy v. National Collegiate Athletic Association struck down a federal law that prohibited states from authorizing sports gambling. According to the Court, the federal law impermissibly commandeered state legislatures. A critical holding in that case was that a federal law that prohibits state action is subject to the anti-commandeering doctrine similar to federal laws that mandate state action. The federal statute that limits the states’ ability to tax is very similar to the gambling statute that the Court struck down—it prohibits states from enacting otherwise permissible legislation without establishing a corresponding federal regulatory regime. In short, the statute commandeers the states similarly to the gambling statute. As a result, the statute is an impermissible encroachment of state sovereignty. Part I of this Article discusses the Due Process and Commerce Clause limitations on states’ taxing powers and the eventual demise of the physical presence test as a result of Court’s holdings in Quill Corp. v. North Dakota and, more recently, South Dakota v. Wayfair. This part also discusses Pub. L. No. 86-272, the longstanding prohibition imposed on states with regard to the taxation of income derived by remote sellers of tangible personal property. Part II discusses the anti-commandeering doctrine. This doctrine has surfaced as a significant bulwark for federalism over the past three decades and led to the demise of the federal sports gambling legislation as a result of the Court’s recent decision in Murphy. This part concludes with an analysis of the case and its potential application to the tax statute.
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Mujtaba, Bahaudin G., Natalie F. Mesa, Shannon McGee, Sherwayne O. Mears, and Fernando S. Moncada. "Distinctive HR Policies and Practices to Create a Workplace “Where Working Is a Pleasure” amid the Covid-19 Pandemic: The Organizational Culture of Publix Super Markets, Inc." International Journal of Human Resource Studies 10, no. 4 (October 27, 2020): 125. http://dx.doi.org/10.5296/ijhrs.v10i4.17888.
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Publix Super Market is relentlessly committed to creating employment opportunities for the communities it serves, especially in the face of the Covid-19 pandemic. Amid ever increasing exogenous pressure, Publix has anchored itself in its world-class Human Resource Management, e.g., staffing protocols, performance management, and employee-management relations. Based on research as well as the personal work experiences of the authors with this organization, this paper and case study offers an in-depth view of how Publix has positioned itself—and remains positioned as—one of the top companies to work for in the United States. Rather than view HR as a cog in its operational engine, Publix holds its HR department as a strategic partner. This has been instrumental in maintaining a finger on the pulse of staff’s needs and creating a nurturing culture that champions every professional. Publix is not only a place where ‘shopping is a pleasure,’ but where working is a pleasure also.More than 150 years ago, the Civil Rights Act of 1866 affirmed that U.S. citizens are entitled to equal protection under the law. Over 50 years ago, the passing of the Civil Rights Act of 1964 outlawed discrimination. However, despite over a century of legislation and activism, discrimination remains a pressing issue plaguing America today. Despite racial turmoil that afflicts our society, Publix has announced they will not stand for injustice by emphasizing, “Let’s end the injustice. Let’s stand together.” Publix has made a $1 million contribution to the National Urban League affiliates across the Southeast, as they continue to support their civil rights efforts.Publix offers its associates career growth, and the necessary training for equitable promotional opportunities for all their diverse employees. Furthermore, it invests in its associates' health, with a benefits package that encourages wellness, smoking cessation, and provides primary care, vision, and dental plans. Using a qualitative process based on personal experiences and documented literature, this case study will guide you through some of Publix’s hallmark human resource policies, how the company has embraced them, and how it works daily to encourage and incentivize its associates' career growth.
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Pintér, Gábor, Henrik Zsiborács, and Nóra Hegedűsné Baranyai. "Aspects of Determining the Energy Storage System Size Linked to Household-Sized Power Plants in Hungary in Accordance with the Regulatory Needs of the Electric Energy System." Sustainability 14, no. 5 (February 24, 2022): 2622. http://dx.doi.org/10.3390/su14052622.
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The global energy markets of the last decade have been characterized by an ever-increasing share of electric power, more than half of which is projected to come from renewable energy sources by the year 2030. Such a remarkable rise in the quantity of renewable energy, of course, will induce a series of related changes as, without the successful integration of all that unconventional type of energy into the existing energy systems, the sustainability and security of the electricity supply cannot be maintained. As a result, new legislation and energy policies are required all over the world to accommodate not only the latest technological solutions but also a variety of previously unknown market actors. In the institutions, businesses and households of Hungary, the notion of sustainability has been gaining more and more importance lately, which is manifest in the efforts to reduce the use of electricity from the public grid, which is generated by burning fossil fuel. This endeavor is facilitated by the installation of photovoltaic (PV) household-sized power plant (HMKE) systems. Currently, the Hungarian electric energy system does not possess sufficiently flexible capacities; moreover, even this capacity is expected to decrease considerably in the future due to the phasing out fossil fuel power plants. Furthermore, dynamically growing HMKE penetration means an increasing frequency of technical problems in the macroenergy system (e.g., reverse energy flow in the local grid). It is such challenges that energy storage technologies can provide a solution for. Presently, there is insufficient information available on the recommended energy storage size necessary for the efficient integration of Hungarian HMKE systems into the electric energy system and the related investment needs. The innovative novelty of this study is that it examines the quantity and power of Hungarian HMKEs in the districts of the various electric companies over time with a view of exploring a possible way of their efficient integration into the electric energy system by determining the nominal energy storage power and energy capacity of the proposed energy storage systems. In addition, the paper also presents the expected investment needs associated with these energy storage systems.
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Turk, George, and Philip Swicegood. "Assessing The Markets Reaction To The Dodd-Frank Act." Journal of Business & Economics Research (JBER) 10, no. 10 (September 19, 2012): 569. http://dx.doi.org/10.19030/jber.v10i10.7266.
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In this paper, we exam how the financial markets reacted to the emergence of the Dodd-Frank Wall Street Reform and Consumer Protection Act as it developed through the legislative process from policy concept to signed law. We find that investors, on the one hand, desired clarity and sustainable oversight of market activities, but simultaneously feared the possibility of over-burdensome regulation. As the legislative process developed, markets cheered any watering down of perceived over-restrictive provisions with a positive response. We also empirically noted the smaller banks stocks were generally unaffected by the entire emergence of Dodd-Frank, with nearly all of the market reaction (positive and negative) occurring with larger banks stocks.
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Bajčetić, Marija. "Legislative regime of the control function of the National Bank of Serbia over commercial banks." Pravo - teorija i praksa 39, no. 1 (2022): 83–97. http://dx.doi.org/10.5937/ptp2201083b.
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The existence of a central bank in one country is of a great importance, because the central bank controls the functioning of the financial market and its participants (banks, insurance companies, financial leasing companies, payment institutions, voluntary pension fund management companies and exchange offices), striving to comply with the law on the National Bank of Serbia in achieving the goals that are clearly and precisely defined. It achieves its goals by performing the intended functions. One of the functions performed by the NBS is reflected in the control of banks, which is the topic of this paper. The control function of the NBS is defined by both the Law on the National Bank of Serbia and the Law on Banks. The NBS performs the function of controlling banks in the process of establishing a bank, but also in the course of its operations. The process of establishing a bank, as the most important financial institution, is far more complex. The complexity of this procedure is reflected in the fact that the legislator has forseen the procedure of obtaining preliminary approval and then obtaining a work permit. After holding the founding assembly of the bank and obtaining the obligatory consent, the bank can be registered. The control function is also represented in the fact that the bank has the obligation to submit regular and extraordinary reports to the National Bank. In this way, the NBS protects the financial market of Republic of Serbia from instability and crises that can cause illiquid, uncertain and illegal operations of banks.
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Khalilov, N. Sh. "Codification of Civil Law in Azerbaijan: History, Current State and Prospects for Development." Lex Russica, no. 6 (June 11, 2022): 123–37. http://dx.doi.org/10.17803/1729-5920.2022.187.6.123-137.
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The paper is devoted to the codification of civil law in Azerbaijan over the past 100 years. During the 20th century, Azerbaijan has adopted civil codes three times by codifying the norms of civil law. The development of new civil legislation from scratch after gaining independence in the early 1990s was aimed at the country’s transition from a planned economy to a market economy. The paper discusses a number of pressing problems of the civil legislation of the Republic of Azerbaijan and puts forward several proposals for their solution. Assessing the results of the civil legislation of Azerbaijan adopted since independence, it is possible to say that, although most of the issues related to the creation and development of the civil law system have been resolved, there is a great need to reform and change the civil legislation of the country. The concept of development and reform of civil legislation in Azerbaijan should be transformed into a unified strategy aimed at more effective regulation of market relations in the country in order to gradually eliminate the «transitional» nature of market relations. The author proposes to optimize civil legislation in Azerbaijan. These should aim at revising a certain part of civil legislation, eliminating contradictions, recodifying old laws; improving norms for the protection of property rights, healthy competition, implementation of agreements and antimonopoly activities; reflecting the practice of law enforcement and interpretation of laws and improving the effectiveness of law enforcement practice; using innovations and successful experience of civil codes in a number of European and Asian countries in the modernization of civil legislation; improvement of the legal language and legislative technique; raising awareness of judges and lawyers through trainings; formation of legal consciousness of citizens through the media; public discussion of the adoption of new laws and amendments to controversial laws that meet modern challenges, with the participation of scientists and experts in the field of private law.
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Cunningham, McKay. "Next Generation Privacy: The Internet of Things, Data Exhaust, and Reforming Regulation by Risk of Harm." Groningen Journal of International Law 2, no. 2 (December 5, 2014): 115. http://dx.doi.org/10.21827/5a86a85a3dc00.
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The disparities inherent in various national privacy laws have come into sharper contrast as access to information grows and formerly domestic markets become international. Information flow does not adhere to national boundary lines. Increasingly, laws that seek to protect informational privacy do not either. The European Union took a bold approach by limiting access to its markets for those who failed to observe its strict law designed to protect personal information. The 1995 Directive (and 2014 Regulatory Amendment) embody this approach as they: (1) broadly define personal information; (2) broadly define those who process and control personal information; (3) restrict transfer of personal information to those who cannot demonstrate compliance. Tellingly, the Directive does not limit its scope to certain industries or practices, but requires privacy controls across the board, regardless of whether the processor is a healthcare provider, pastry chef or girl scout. To many, the Directive has failed. While the global trend toward adopting laws similar to the Directive suggests that many States value privacy rights, commentators and empirical studies reveal significant shortcomings. The Directive outlaws harmless activities while allowing exceptions that threaten to swallow the rule. It is simultaneously over-inclusive and under-inclusive. National governments enjoy wide latitude to collect and use personal information under the guise of national security. Perhaps more concerning, technology continues to leapfrog. Information privacy is made continually more difficult with each new “app” and innovation. The Internet of Things is more probable than speculative. Radio-frequency identification is a predicate to computer identification and assimilation of everyday physical objects, enabling the use of these objects to be monitored and inventoried by computers. Tagging and monitoring objects could similarly be accomplished by other technologies like near field communication, barcodes, QR codes and digital watermarking, raising the legitimate argument that informational privacy—at least as envisioned in the 1995 Directive’s absolute terms—is impossible. Informational privacy cannot be accomplished by declaring it a fundamental right and outlawing all processing of personal information. To legally realise and enforce a privacy right in personal information, incremental, graduated, and practical legislation better achieve the goal than sweeping proclamations that have applications to actions unrelated to the harms associated with the absence of the right. With information privacy in particular, a capacious claim of right to all personal information undermines legal enforcement because the harms attending lack of privacy are too often ill-defined and misunderstood. As a result, legal realization of a claimed privacy right in the Age of Information should proceed incrementally and begin with the industries, practices, and processes that cause the most harm by flouting informational privacy. Data mining and data aggregation industries, for example, collect, aggregate and resell personal information without express consent. A targeted prohibition of this industry would reduce financial incentives of the most conspicuous violators and alleviate some of the most egregious privacy infractions. A graduated legal scheme also reduces undue and overbroad Internet regulation. While the right to privacy has been recognised and legally supported in one way or another for centuries, it has not faced the emerging and countervailing Age of Information until now. Current omnibus international legislation reflects the impossibility of legally protecting all privacy in the Age of Information; it also illustrates the need for a refined and practical legal scheme that gradually and directly targets the harms associated with privacy violations.
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POTAPIUK, Iryna, and Maksym STETSENKO. "ENVIRONMENTAL MANAGEMENT SYSTEM AS A COMPONENT OF ENVIRONMENTAL SAFETY." Ukrainian Journal of Applied Economics 5, no. 3 (September 7, 2020): 410–16. http://dx.doi.org/10.36887/2415-8453-2020-3-46.
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Introduction. Environmental issues are of great concern almost all over the world and must be addressed at the national and, in some cases, international levels. The prior task is to create, implement, and apply modern approaches and tools because their prevention is more effective than dealing with their negative consequences. Effective environmental management is one of such tools. It provides additional benefits for private and state sector enterprises. The purpose of the study is to substantiate the environmental management system importance for environmental safety since it is an integral component of it. Results. The necessary condition for the country's stable economic development is the ecologization of the production process, which involves reducing the amount of the natural resources use environmentally friendly technologies in production and transportation that would minimize the environmental risks and negative impacts on the environment. The purpose of environmental management is to administer the enterprise activities in such a way that does not cause much harm or damage to the environment and does not drive the humanity to environmental catastrophe. The ecological management does not abrogate or replace the existing state administrative environmental management but only complements it, being an independent initiative of the enterprise. The introduction of environmental management system in enterprises not only increases the enterprise competitiveness in the European, American, and CIS markets but also allows enterprise functioning in accordance with the international law, which eliminates the cost of the fines for environmental damage. The ecological management role is very significant. It is the prevention and a well-timed solution of any urgent environmental problem. Conclusions. The basic principle of environmental management is the liability of any managerial decision for environmental effects. Thus, the implementation of ISO 14001 is necessary for production, processing, agricultural, and transport enterprises. The ISO 14001 certificate confirms that the environmental management system in the enterprise is relevant and complies with the standard and legislation.
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Kirin, R., P. Baranov, and I. Koziakov. "GEMOLOGICAL LAW OF UKRAINE: FORMATION PROBLEMS AND DEVELOPMENT PROSPECTS." Visnyk of Taras Shevchenko National University of Kyiv. Geology, no. 2 (93) (2021): 6–14. http://dx.doi.org/10.17721/1728-2713.93.01.
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The article analyzes the scientific and legislative provisions connected with the specifity of the legal regulation of relations in the field of gemological activity and gemological objects. The current state of sources of gemological law and their belonging are investigated, which is nowadays ambiguous, since they get to a system of currency law (a component of financial and credit or budgetary and financial legislation) as well as to a system of industrial legislation, while having the provisions of mining, economic, civil, administrative, fiscal, customs and expert legislation in the contents. It is proposed to consider gemological law as a set of legal norms regulating public relations in the field of organizing and carrying out gemological activities connected with the acquisition of the right to use, mining, property, use and operations with gemological objects in the form of subsoil, mineral, production and secondary resources, control over their turnover and expertise. It is noted that consideration of precious stones and precious metals, having geological and mineralogical, physicochemical, jewellery and industrial, and legal differences, as the complex object in the context of the domain of the unified legislative act, intended to be a basis of new market relations in the field of jewellery transactions, could be regarded as the justified one only at the early stage of legislative base formation for the field. Provisions are given, according to which it is recognized that the current law is outdated, since its subject of regulation has been transferred mainly to the subordinate level; the mechanisms for replenishing state funds provided in it are contradictory, incomplete and practically not implemented in practice; the form of restrictions in the circulation of valuable objects and their validity are debatable; relations of the quality and safety of products, consumer protection, ensuring a balance of public and private interests, equality of business entities, competitiveness of the industry need updating in European integration legal regulation. For the first time in the context of geological and legislative science, the authors propose to form a structure of the gemological law system based upon the principles of differentiation of a type of gemologically important activities for generic derivatives (i.e. gemological and resource law; right of gemological circulation; right of gemological expertise etc.) as well as a type of gemological objects and resources for direct groups. Development prospects of gemological legislation are connected with its reduction to a certain agreed system and its unity provision by means of the internal and external improvement of contents and development of the Gemological Code of Ukraine.
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Boscheck, Ralf. "The EU’s Third Internal Energy Market Legislative Package: Victory of Politics over Economic Rationality?" World Competition 32, Issue 4 (December 1, 2009): 593–608. http://dx.doi.org/10.54648/woco2009054.
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After more than twenty years of debate, regulatory under-enforcement and weighing overall welfare benefits against particular stakeholder concerns, the EU’s third legislative package, as adopted by the Council on 29 June 2009, offers Member States a menu of regulatory futures to choose from. Even if these options were functionally equivalent in creating ‘effective unbundling’, their respective regulatory requirements are clearly not. Broadening the definition of unbundling may turn out to be the political price that the Commission is willing to pay for ultimately seeing its preferred model of ownership unbundling (OU) adopted across the EU. However, it is not the economic evidence supporting OU that makes it an attractive option. Rather, the regulatory burden imposed on its alternatives will cause integrated operators to consider transmission ownership a liability rather than an asset. Meanwhile regulatory diversity may persist and by negatively affecting investments and competition in energy-markets delay the attainment of the EU?s primary energy goals. To push ahead with its Single Energy Market initiative, the EU needs to ‘sell’ the overall efficiency of OU as a regulatory standard and limit itself to settling only those true cross-border concerns that are not sufficiently covered by existing competition rules.
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Schurr, Francesco A. "The Relevance of the European Consumer Protection Law for the Development of the European Contract Law." Victoria University of Wellington Law Review 38, no. 1 (March 1, 2007): 131. http://dx.doi.org/10.26686/vuwlr.v38i1.5660.
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This paper deals with the interaction of consumer law and contract law in the European Union. Over the last two decades the European legislature has adopted many legislative measures in the field of consumer protection that were designed to strengthen the single market and to avoid distortion of competition. Thus the European legislature tried to approximate or harmonise consumer protection standards within the European Community and consequently created a new layer of supranational contract law which now coexists with the traditional national contract law regimes. The paper assesses the various types of contract law on the international, supranational and national levels and discusses the problems arising from the fact that the contract law in the European Community is so diverse. Directive 2005/29/EC on Unfair Business-to-Consumer Commercial Practices is discussed as a very prominent recent product of European Community consumer legislation. The paper points out how the development of European consumer law serves as a catalyst for the further development of a genuine European contract law.