Posts from June 2018

My article offers a normative behavioural finance analysis of the marketing communications regime in Europe’s new Markets in Financial Instruments Directive (MiFID II). The article aims to bridge the...

Benjamin Franklin famously said, ‘in this world nothing can be said to be certain, except death and taxes’. However, when it comes to our digital deaths the old adage is far from true. On 18 June...

Whether London will remain the centre for European financial transactions will depend on its access to the Single Market. Under the current circumstances, nobody can predict either what the legal...

In bankruptcy, as in corporate law, valuation drives disputes. Prior bankruptcy scholarship points to disagreements about valuation and judicial valuation error as key drivers of Chapter 11 outcomes...

Since the disgrace of Lehman, the question of how to handle failing SIFIs has been quite vexed. On the one hand, governmental rescue of shareholders and other investors is beyond annoying, and there...

The present and the future generations depend on a sustainable society. Companies have a large impact on our society and play a large role in achieving sustainability goals. In this context, the role...

The ‘Report on Improving Corporate Governance in Hong Kong’, published by the Hong Kong Institute of Certified Public Accountants on 2 May 2018, assesses the strengths and weaknesses of Hong Kong’s...

Security interests are the building blocks of modern, credit-based economies, and a key component in the quest to promote economic development and sustainable growth. They provide lenders with rights...

Around 200 years ago Sir William Blackstone, the great commentator of English common law, used the metaphor of a shingle to describe the effects of self-commitments. Professionals who place a shingle...

The vulnerabilities in the wholesale funding and in particular short-term (overnight) repurchase agreement (repo) markets were significant sources of systemic risk in the Global Financial Crisis (GFC...

As shown by the law and finance literature, most Latin American companies have concentrated ownership structures with controlling shareholders (La Porta et al, 1998, 1999). As a result, the primary...

The modern marketplace is saturated with ‘ratings’ and ‘reviews’ of a firm’s products, services, and financial performance on platforms such as Google, Yelp, Bloomberg, and Facebook. While we know a...

On May 24, 2018, President Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act (Reform Act), which, among other things, amended securities law provisions focused...

According to the classic Cadbury definition, ‘corporate governance is the system by which companies are directed and controlled’. On 5 December 2017, the Financial Reporting Council (FRC) published a...

Recent developments in 'smart' digital technologies, in particular blockchain technology, are changing and challenging the framework in which business is conducted. A prominent feature of the...

It is a measure of the complexity of Economic and Monetary Union law that almost 10 years since the onset of the Euro crisis we do not yet have an answer to some of the most fundamental legal...