scholarly journals Two Sides of the Same Coin: EU Financial Regulation and Private Law

2021 ◽  
Author(s):  
Olha O. Cherednychenko
Keyword(s):  
Financial Markets ◽  
Common Good ◽  
Financial Regulation ◽  
Critical Role ◽  
National Level ◽  
Private Law ◽  
Public And Private ◽  
Private Interests ◽  
The Individual ◽  
Two Sides

AbstractToday, legislators, courts, financial regulators and other actors at the EU and national level face major new challenges in safeguarding public and private interests in an increasingly digital and sustainability-minded environment surrounding financial markets. Innovative ways of addressing tensions between the common good and the individual preferences of market actors are needed to address these challenges. However, at present, the efforts to develop workable solutions are seriously hampered by the gap between the two areas of law that profoundly shape the financial markets—financial regulation and private law—in the current European policy discourse and legal scholarship. This article is an attempt to systematically rethink the role of private law in the regulatory and enforcement landscape for financial markets and its relationship with public regulation more generally. It argues that financial regulation and private law are not two parallel universes, but rather two sides of the same coin, each of which has a critical role to play in safeguarding public and private interests. Examining EU financial regulation through the ‘private law’ lens would enable us to unveil a complex interplay between the regulatory dimension, contractual settings and private law remedies that we need to better understand in order to be able to better regulate financial markets. Conversely, examining national private law through the European ‘regulatory’ lens would allow us to unpack the potential of traditional private law to contribute to the objectives of EU financial regulation, while at the same time realising justice between private parties.

scholarly journals The Legal Category "Public Good" in the Interpretation of the Constitutional Court of the Russian Federation

Lex Russica ◽  
2019 ◽  
pp. 78-84 ◽  
Author(s):  
P. L. Likhter
Keyword(s):  
Russian Federation ◽  
Common Good ◽  
Individual Autonomy ◽  
Constitutional Court ◽  
Public And Private ◽  
The Common Good ◽  
Private Interests ◽  
The Russian Federation ◽  
The Common ◽  
The Individual

The paper is devoted to the Russian Federation Constitutional Court understanding of the permissible limits of individual autonomy and boundaries of its limitation for the common good.Constitutional axiology as a form of direct relation to the model and practice of actual constitutionalism functions as the basis for the formation of a social policy. In Russia, economic cataclysms reveal problems in the system of pensions, taxation, employment and education. We are witnessing a certain deformation of the legal consciousness of the population. Such turning points inevitably raise questions about the best balance between the interests of the individual, society and the state.The threat of imbalance between public and private interests stimulates the highest judicial authorities to interfere in the formation of the hierarchy of constitutional and legal values. Increasingly, the Constitutional Court of the Russian Federation deals with issues of the common good, the need to take into account public interests in the resolution of tax, labor, civil and other types of disputes.

scholarly journals LEGAL REGULATION OF INTERRELIGIOUS RELATIONS IN THE FIELD OF GENERAL EDUCATION: THE RATIO OF PUBLIC AND PRIVATE INTERESTS

2019 ◽  
Vol 7 (5) ◽  
pp. 998-1002
Author(s):  
Olga S. Ivanova ◽  
Irina S. Chalykh ◽  
Alevtina E. Novikova ◽  
Elena V. Safronova ◽  
Evgeniy E. Tonkov
Keyword(s):  
General Education ◽  
National Level ◽  
Legal Regulation ◽  
Legal Analysis ◽  
Public And Private ◽  
Private Interests ◽  
Analysis And Synthesis ◽  
Teachers And Students ◽  
Interreligious Relations ◽  
The Individual

Purpose: In article on the basis of the formal legal analysis of the national legal system and the international jurisprudence the key principles of state legal regulation of the confessional relations in the sphere of the general education are distinguished; the need of their addition and unification at the national level for the purpose of providing the balanced ratio of public and private interests in the context of providing the integrated rights and personal freedoms is demonstrated. Methodology: In work, various general scientific methods, acceptances, and methods of logical knowledge are used: analysis and synthesis, system, formal and logical, formal legalistic. Result: It should be emphasized that the process of legal regulation of the modern secular state is not enough to adhere to the principle of religious neutrality and minimize the amount of religious component in the public spheres of life of the individual and society, including the system of General education. Currently, such a state is designed to ensure a balance between public and private interests in this area. Applications: This research can be used for universities, teachers, and students. Novelty/Originality: In this research, the model of Legal Regulation of Interreligious Relations in the Field of General Education: The Ratio of Public and Private Interests is presented in a comprehensive and complete manner.

What Can Economists Contribute to the Common Good Tradition?

2017 ◽  
Author(s):  
Andrew M. Yuengert
Keyword(s):  
Common Good ◽  
Common Pool Resources ◽  
Economic Approach ◽  
Public And Private ◽  
Private Provision ◽  
The Public ◽  
The Common Good ◽  
The Common ◽  
The Individual ◽  
Insight Into

Although most economists are skeptical of or puzzled by the Catholic concept of the common good, a rejection of the economic approach as inimical to the common good would be hasty and counterproductive. Economic analysis can enrich the common good tradition in four ways. First, economics embodies a deep respect for economic agency and for the effects of policy and institutions on individual agents. Second, economics offers a rich literature on the nature of unplanned order and how it might be shaped by policy. Third, economics offers insight into the public and private provision of various kinds of goods (private, public, common pool resources). Fourth, recent work on the development and logic of institutions and norms emphasizes sustainability rooted in the good of the individual.

EU Law (MiFID II) and effective regulation: a step towards financial stability?

2019 ◽  
Vol 26 (6) ◽  
pp. 833-848
Author(s):  
Mariia Domina Repiquet
Keyword(s):  
Financial Markets ◽  
Financial Stability ◽  
Financial Regulation ◽  
Duty Of Care ◽  
Eu Law ◽  
Systemic Risks ◽  
Two Sides ◽  
The Eu

This article examines to what extent EU law is effective in preserving global financial stability and, therefore, preventing financial crisis. A difference between macro- and micro-approaches to financial regulation is explained. Whilst the former is concerned with the minimization of systemic risks and maintaining of the financial stability, the latter is focused on the effective regulation of all financial markets’ players, whatever the size of their portfolios. These approaches are the two sides of the same coin, that is limiting the possibility that future financial crises will occur. This paper argues that the effective regulation of investment firms, especially their duty of care, helps to preserve overall financial stability. The choice of the MiFID II as a case study is explained by its appreciation as one of the biggest achievements of EU policymakers in the context of financial law so far. How does a duty to ‘know your customer’ affect global financial stability within the EU? What is the role of soft law in preserving the financial system? These are the questions that this paper seeks to answer.

scholarly journals Constitutional and legal models of countering terrorism

2021 ◽  
Vol 21 (4) ◽  
pp. 458-467
Author(s):  
Oksana V. Nardina ◽  
Keyword(s):  
Human Rights ◽  
State Power ◽  
The State ◽  
Point Of View ◽  
Public And Private ◽  
Emergency Situations ◽  
Private Interests ◽  
Globalizing World ◽  
The Individual ◽  
Constitutional Construction

Introduction. Terrorism as a socio-political phenomenon that violates the security, rights and interests of the individual, society and the state, puts forward new tasks for constitutional construction in a globalizing world. That is why the article examines the current constitutional and legal models of countering terrorism. The author analyzes various points of view of scientists and politicians on the relationship of human rights, as well as other constitutional values with measures of response to an emergency. Theoretical analysis. The study of the constitutional and legal models of countering terrorism is important not only from a theoretical, but also from a practical point of view, since the most serious and systematic abuse of exclusive powers and violations of human rights occur during countering threats to public order and national security. Empirical analysis. Considering the models for the application of exceptional measures in emergency situations, we draw attention to the following important factors within the framework in which they are implemented: whether the exceptional anti-terrorist measures are aimed at protecting the constitutional order, human rights and freedoms or when they are introduced, other goal-setting is possible; whether the state considers anti-terrorist measures to be extraordinary or proceeds from the assumption that their use is possible in the normal course of the exercise of state power; whether the transition of the state from emergency measures to the usual regime of exercising state power has been ensured in a normative way. Results. Systematizing the views of scientists on the problem of state countering terrorism, we have identified the following basic constitutional and legal models: the absolutization of human rights, non-constitutional and based on achieving a balance of public and private interests.

scholarly journals Utopia as Topos of Boundaries Erosion between Private & Public Sphere

2020 ◽  
Author(s):  
Yulia Malykhina ◽  
Keyword(s):  
Public Sphere ◽  
Common Good ◽  
Public Life ◽  
The State ◽  
Private Sphere ◽  
Public And Private ◽  
The Public ◽  
The Common Good ◽  
The Common ◽  
The Individual

The article covers ideas of public life in ancient Greek philosophy having given rise to discussion on the necessity of separation and rapprochement of public and private spheres. This study rests upon the analysis of ‘publicness’ and ‘privacy’ in the philosophical conceptions of such authors as J. Habermas who deems ‘publicness’ as communication, and H. Arendt who refers to ‘publicness’ as the polis-based worldview. Plato’s dialogue ‘The State’, which can be deemed as the first-ever example of a utopian text, provides us with the most detailed and consistent instance of criticism of the private sphere, the necessity to merge it into public life to create society. Only in this way could society become a model of an ideal polis leading to the common good. The utopism of Plato’s pattern determines characteristics of the entire utopian genre arising from the idea of the individual merging with the state, and the private sphere merging into the public sphere. Plato’s ideal polis is contrasted with the concepts of the state formed by Modern Age liberal thought, which have largely determined modern views on the division of these spheres, leading to a revision of the utopian projects and a change in the relationship between the private and the public therein. A comparison of various utopian texts results in finding out that the utopian idea of the refusal of the private sphere of life in favour of serving the common good contradicts the modern ideal of freedom, which is the reason for its criticism and for the increasing number of texts with an anti-utopian character.

scholarly journals THE INTEGRATION OF EXPERIENTIAL TECHNIQUES IN ADULT EDUCATION AND THE FACTORS INFLUENCING THEIR ADOPTION

2021 ◽  
Vol 9 (7) ◽  
pp. 371-386
Author(s):  
Gogola Angeliki ◽  
Moustakas Loukas
Keyword(s):  
Adult Education ◽  
Vocational Training ◽  
National Level ◽  
Adult Educators ◽  
Work Characteristics ◽  
Teaching Techniques ◽  
Public And Private ◽  
Experiential Teaching ◽  
Experiential Techniques ◽  
The Individual

The present research is a quantitative approach to the experiential learning provided in adult education. It focuses on the investigation of the experiential teaching techniques adopted and applied by adult educators at Vocational Training Institutes (VTI), based on their individual and work characteristics. The sample consisted of 317 instructors of public and private VTI, which was a product of inventory sampling, and was conducted at national level. A standard questionnaire, that was prepared for the needs of this research was used as a research tool. The results of the research are presented through descriptive, but also inductive statistical methods and confirm that adult educators use a variety of experiential teaching techniques in their work, with some of them being more preferred than others that seem to be less popular. In addition, the individual-work characteristics of educators affect, in some cases, the degree and intensity with which they utilize some experiential techniques, during the teaching process.

The Role of Consent in European Cross-Border Insolvency Proceedings: The Unilateral Undertaking under Article 36 EIRR

Global Jurist ◽  
2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Marcello Gaboardi
Keyword(s):  
The European Union ◽  
Insolvency Law ◽  
Public And Private ◽  
European Regulation ◽  
Cross Border ◽  
Private Interests ◽  
The Individual ◽  
Insolvency Proceedings ◽  
The Impact

Abstract Properly balancing between public and private interests is one of the most significant and complex challenges presented by modern insolvency law. The European Union insolvency law has recently embraced that challenge, by reinforcing the role that private actors, such as creditors and stakeholders, are called upon to play within the context of insolvency proceedings. That approach to insolvency has gradually reduced the impact of public actors, such as judges and public officers, in managing the debtor’s financial difficulties. The individual consent seems to be the new way of facing the debtor’s insolvency. First, this Article examines the role of individual consent in insolvency proceedings in terms of economic efficiency. It focuses on the tendency to favor agreements between the debtor and creditors or the insolvency practitioner in several European legal systems when they increase the likelihood to produce efficient results for both the parties. The second part of this Article focuses on the European Regulation on cross-border insolvency proceedings no. 848/2015. I offer some critical thoughts about the unilateral undertaking under article 36 of the European Regulation. It represents a relevant means of managing the debtor’s cross-border insolvency through an agreement between the insolvency practitioner in the main insolvency proceedings and local creditors in order to avoid the opening of inefficient secondary proceedings.

scholarly journals BALANCE OF PUBLIC AND PRIVATE INTERESTS AND LEGAL CERTAINTY IN CIVIL PROCEEDINGS

2021 ◽  
pp. 27-30
Author(s):  
I.V. Rekhtina
Keyword(s):  
Human Rights ◽  
Public Interest ◽  
National Level ◽  
Legal Certainty ◽  
Public Interests ◽  
Public And Private ◽  
Private Interests ◽  
Civil Proceedings ◽  
Private And Public

The article examines how the principle of legal certainty can serve as a criterion in determiningthe balance and balance of private and public interests in the consideration of cases in court. Russianjurisprudence shows that, at the national level, there is an imbalance in the private and public interest inconsiderations, in which priority is often improperly given to public interest. The principle of legal certaintymay serve as a criterion for finding this balance, taking into account the jurisprudence of the European Courtof Human Rights.

Interim relief in the public law context

1999 ◽  
Vol 58 (1) ◽  
pp. 1-48
Author(s):  
Nicholas Bamforth
Keyword(s):  
Judicial Review ◽  
Administrative Law ◽  
Public Law ◽  
Private Law ◽  
Public And Private ◽  
The Public ◽  
Private Citizens ◽  
The Subject ◽  
The Individual ◽  
Law Commission

THE remedial aspects of judicial review illustrate in particularly vivid form the divergent nature of public and private law proceedings. The prerogative orders–mandamus, certiorari and prohibition–are available only via judicial review. Leave is required for judicial review but not for private law actions. By contrast with the private law writ procedure, judicial review must be brought promptly and within three months. In judicial review, a remedy can still be denied to the applicant who establishes a substantive case. As the Law Commission made clear in its Report Administrative Law: Judicial Review and Statutory Appeals, “[j]udicial review often involves values and policy interests, which must be balanced against and may transcend the individual interests, which are normally the subject of litigation between private citizens” (Law Com. No. 226, para. 2.1).

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