Recent Developments of Corporate Governance in the European Union and their Impact on the German Legal System

2004 ◽  
Vol 5 (10) ◽  
pp. 1275-1294
Author(s):  
Athanasios Kouloridas ◽  
Jens von Lackum
Keyword(s):  
Corporate Governance ◽  
Action Plan ◽  
Company Law ◽  
Public Consultation ◽  
Public Confidence ◽  
The European Union ◽  
Legal Form ◽  
Recent Developments ◽  
Set Up ◽  
The Eu

The collapses of several US-businesses like those of Enron and Worldcom and a number of scandals in the EU – in the recent past that of Parmalat – have strongly affected public confidence in the operation and governance of large entities trading their shares in organized capital markets. The European Commission reacted by issuing the Action Plan on Modernizing Company Law and Enhancing Corporate Governance in the EU on 21 May 2003. The Action Plan contains measures which the Commission wants to implement over the short term (until 2005), medium term (until 2008) and long term (until 2010). The key issues set up in the Action Plan concern corporate governance, capital maintenance, recapitalization as well as decreasing capital, groups of companies, international corporate restructuring and the introduction of a new legal form of incorporation. The fact that the big rating agencies have begun to rate the corporate governance performances of major companies, can well be seen as a further indicator that good corporate governance has an important concern for managers, shareholders and for policy makers. As part of the Action Plan, the Commission has recently launched consultations on board responsibilities and improving financial and corporate governance information, on directors’ remuneration and on the role of (independent) non-executive or supervisory directors. In the light of these recent consultations and the results of the public consultation on the Action Plan, this Article offers an overview and assessment of the corporate governance measures planned at Community level.

Company Law

2016 ◽  
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Corporate Governance ◽  
Action Plan ◽  
Regulatory Reform ◽  
Case Law ◽  
Company Law ◽  
European Company ◽  
European Company Law ◽  
The Subject ◽  
The Eu ◽  
Complex Subject

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. Company Law provides an account of the key principles of this area of law. It aims to demystify this complex subject. Chapter introductions provide summaries of various aspects of company law and further reading provide the tools for further research and study. This volume includes coverage of new case law such as Prest v Petrodel Resources Ltd (2013); Chandler v Cape plc (2012); VTB Capital plc v Nutritek Int Corp (2013); Vivendi SA v Richards; Weavering Capital v Dabhia; Sharma v Sharma; and FHR European Ventures LLP v Mankarious. On corporate governance the new edition discusses the implementation of mandatory ‘Say on Pay’ measures in the Enterprise and Regulatory Reform Act 2013, the implementation of the Kay Review recommendations, and the new format Directors’ Report (2013). Also covered are the EU action plan on European company law and corporate governance (2012) and the EU consultation on the future of European company law (2012), as well as the Law Commission’s consultation of the fiduciary duties of investment intermediaries (2014), and the revised system of registration of company charges.

Company Law

2018 ◽  
Author(s):  
Alan Dignam ◽  
John Lowry
Keyword(s):  
Corporate Governance ◽  
Action Plan ◽  
Regulatory Reform ◽  
Case Law ◽  
Company Law ◽  
European Company ◽  
European Company Law ◽  
The Subject ◽  
The Eu ◽  
Complex Subject

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. Company Law provides an account of the key principles of this area of law. It aims to demystify this complex subject. Chapter introductions provide summaries of various aspects of company law and further reading provide the tools for further research and study. This volume includes coverage of new case law such as Prest v Petrodel Resources Ltd (2013); Chandler v Cape plc (2012); VTB Capital plc v Nutritek Int Corp (2013); Vivendi SA v Richards (2013); Weavering Capital v Dabhia (2013); Sharma v Sharma (2013); and FHR European Ventures LLP v Mankarious (2013). On corporate governance the new edition discusses the implementation of mandatory ‘Say on Pay’ measures in the Enterprise and Regulatory Reform Act 2013, the implementation of the Kay Review recommendations, and the new format Directors’ Report (2013). Also covered are the EU action plan on European company law and corporate governance (2012) and the EU consultation on the future of European company law (2012), as well as the Law Commission’s consultation of the fiduciary duties of investment intermediaries (2014), and the revised system of registration of company charges.

scholarly journals Takeover Regulation- through the Regulatory Looking Glass

2007 ◽  
Vol 8 (4) ◽  
pp. 381-412 ◽  
Author(s):  
Blanaid Clarke
Keyword(s):  
Capital Market ◽  
Action Plan ◽  
Company Law ◽  
The European Union ◽  
The Public ◽  
Securities Law ◽  
Market Participants ◽  
Takeover Bids ◽  
Looking Glass ◽  
The Eu

As the Action Plan on Modernising Company Law and Enhancing Corporate Governance in the European Union (2003) makes clear, the EU has sought to develop company and securities law as vital pillars of an overall attempt to improve Europe's international competitiveness. An important part of this is the creation of an integrated capital market in the EU. The regulation of takeover bids was deemed to be a key element of such an integrated market. This paper will focus on Directive 2004/25/EC on Takeover Bids and will seek to examine it under the regulatory microscope. It is too early to make a complete judgment about the Directive's effectiveness as a regulatory mechanism as this would involve determining whether it achieves its goals, secures high levels of compliance from Member States and market participants and is democratically accountable to the extent that its provisions affect the public interest. It is however possible to reflect upon some of its potential strengths and failings in respect of these criteria.

European experience in transition to circular economy

2020 ◽  
Vol 19 (4) ◽  
pp. 598-617 ◽  
Author(s):  
S.V. Ratner
Keyword(s):  
European Union ◽  
Circular Economy ◽  
Raw Materials ◽  
Action Plan ◽  
National Level ◽  
The European Union ◽  
Scientific Methods ◽  
European Experience ◽  
General Scientific ◽  
The Eu

Subject. The article considers the concept of circular economy, which has originated relatively recently in the academic literature, and is now increasingly recognized in many countries at the national level. In the European Union, the transition to circular economy is viewed as an opportunity to improve competitiveness of the European Union, protect businesses from resource shortages and fluctuating prices for raw materials and supplies, and a way to increase employment and innovation. Objectives. The aim of the study is to analyze the incentives developed by the European Commission for moving to circular economy, and to assess their effectiveness on the basis of statistical analysis. Methods. I employ general scientific methods of research. Results. The analysis of the EU Action Plan for the Circular Economy enabled to conclude that the results of the recent research in circular economy barriers, eco-innovation, technology and infrastructure were successfully integrated into the framework of this document. Understanding the root causes holding back the circular economy development and the balanced combination of economic and administrative incentives strengthened the Action Plan, and it contributed to the circular economy development in the EU. Conclusions. The measures to stimulate the development of the circular economy proposed in the European Action Plan can be viewed as a prototype for designing similar strategies in other countries, including Russia. Meanwhile, a more detailed analysis of barriers to the circular economy at the level of individual countries and regions is needed.

The Role of Financial Innovation in EU Market Integration and the Capital Markets Union

2018 ◽  
Author(s):  
Emilios Avgouleas
Keyword(s):  
Capital Markets ◽  
Risk Sharing ◽  
Market Integration ◽  
Financial Innovation ◽  
The European Union ◽  
Recent Developments ◽  
Capital Markets Union ◽  
Critical Overview ◽  
The Eu

This chapter offers a critical overview of the issues that the European Union 27 (EU-27) will face in the context of making proper use of financial innovation to further market integration and risk sharing in the internal financial market, both key objectives of the drive to build a Capital Markets Union. Among these is the paradigm shift signalled by a technological revolution in the realm of finance and payments, which combines advanced data analytics and cloud computing (so-called FinTech). The chapter begins with a critical analysis of financial innovation and FinTech. It then traces the EU market integration efforts and explains the restrictive path of recent developments. It considers FinTech's potential to aid EU market integration and debates the merits of regulation dealing with financial innovation in the context of building a capital markets union in EU-27.

scholarly journals Navigating Through the Maze: Practical Constraints in the Implementation of Forest Regulations (FLEGT) in Ghana

2021 ◽  
Vol 10 (2) ◽  
pp. 31
Author(s):  
Gordon Kofi Sarfo-Adu
Keyword(s):  
Value Chain ◽  
Sustainable Forest Management ◽  
Tracking System ◽  
Action Plan ◽  
The European Union ◽  
Implementation Challenges ◽  
Technical Errors ◽  
Public Policy Implementation ◽  
Transnational Actors ◽  
The Eu

The European Union Forest Law Enforcement on Governance and Trade (EU-FLEGT) Action Plan seeks to promote widespread sustainable forest management and relies largely on transnational actors and international law in its operationalization. The EU FLEGT sets out EU custom regulation through Voluntary Partnership Agreements (VPAs) which is a bilateral agreement between the EU and wood exporting countries with instruments aimed at promoting sustainable practices within the forest resources value chain. Ghana became a signatory to the FLEGT VPA since 2007, as part of the process, it is required to use technology to track timber logging from source to point of export. Issues of networks and inter-agency collaboration and dealing with human elements remain crucial in ensuring effective operationalization. Adopting a qualitative case study design as well as theories and concepts from the public policy implementation literature, this study examines the implementation vagaries of the FLEGT VPA in Ghana. Although the VPA is a laudable idea of using Information Technology (IT) in effectively tracking timber to its original source to ascertain legality or otherwise of the timber, the needed IT infrastructure and resources have not matched up with the goal. Additionally, the VPA implementation is expensive and has come with additional cost to the implementers, The study further observes that the increasing ‘red flags’ that are raised on the Ghana Wood Tracking System is a blend of technical errors emanating from negligence or capacity challenges and human manipulation. This calls for regular consultations and workshops with relevant stakeholders in order to assess which skills are deficient and a need to beef up through on-the-job training. The domestic market and trading activities tend to fuel demand for illegal timber hence a constraint to the full realization of the VPA objective. The study makes policy suggestions on how to address these implementation challenges.

The EU’s engagement with foreign powers on human rights

2020 ◽  
pp. 265-292
Author(s):  
Francisca Costa Reis ◽  
Weiyuan Gao ◽  
Vineet Hegde
Keyword(s):  
Human Rights ◽  
Lisbon Treaty ◽  
The European Union ◽  
Human Rights Protection ◽  
Rights Protection ◽  
Cohesive Group ◽  
The Difference ◽  
Economic Partnership ◽  
Set Up ◽  
The Eu

With a mandate under the Lisbon Treaty, the European Union (EU) has been engaging with foreign powers like Brazil, Russia, India, China, and South Africa (BRICS) nations on human rights issues. Despite the common and shared goals, the BRICS set-up is not institutionalised, which prompts the EU to engage with each country on a bilateral basis. Such collaborations have occurred in bilateral dialogues, multilateral fora, through developmental assistance, and negotiations in economic partnership agreements. The scope and content of the discussions and cooperation vary due to the difference in the political structures of the countries. While the EU and the BRICS may share some common goals politically and economically, pursuing shared objectives related to democracy and human rights promotion remains challenging. These countries may believe in human rights protection, but the understandings and the approaches vary drastically, as visible when issues of sovereignty and non-intervention are raised to resist comprehensive discussions. Although the BRICS are emerging as an interconnected group and have begun to cooperate more closely in multilateral fora, the EU may also have to consider dealing with it in its institutional capacity. It could be more challenging to fulfill the mandate of the Lisbon Treaty for the EU while dealing with this cohesive group that has different understandings on human rights protection within their own states.

Defining Elements and Emerging Legal Issues of eu “Sanctions”

2018 ◽  
Vol 27 (1) ◽  
pp. 33-52
Author(s):  
Leonardo Borlini ◽  
Stefano Silingardi
Keyword(s):  
Legal Issues ◽  
Policy Framework ◽  
The European Union ◽  
The United Kingdom ◽  
Recent Developments ◽  
Legal Position ◽  
Grand Chamber ◽  
Restrictive Measures ◽  
Ukraine Crisis ◽  
The Eu

With some 40 different types of restrictive measures in force, the European Union is undisputedly one of the major protagonists of today’s sanction regimes. Measures such as selective trade embargos, asset freezes and travel bans have been adopted by the EU not only to implement Security Council mandated sanctions, but also in addition to (as with Iran and North Korea) or in the absence of UN action (as with Syria and Russia). Further, EU recent practice evidences that sanctions (Myanmar and Zimbabwe) have served the EU and its member states’ own interests also with the view to promoting (the European construction of) values generally shared in international society. After outlining the legal discipline and the policy framework of EU restrictive measures, the present article analyses the legal issues emerging with respect to EU sanctions over the last four years. Among these, the 2017 ruling of the Grand Chamber of the Court of Justice of the EU in Rosneft, Brexit and its consequences on the implementation/adoption of sanctions by the United Kingdom, and recent developments concerning the legal position of candidate countries which refused to align with the EU sanction adopted in reaction to the Ukraine crisis, are the most important.

POLISH AND RUSSIAN BORDER ON THE ROAD TO SCHENGEN

2011 ◽  
Vol 161 (3) ◽  
pp. 97-122
Author(s):  
Halina ŁACH
Keyword(s):  
Central Europe ◽  
Action Plan ◽  
Migration Policy ◽  
Buffer Zone ◽  
The Other ◽  
The European Union ◽  
Illegal Migration ◽  
Wide Range ◽  
On The Road ◽  
The Eu

After the collapse of communism, the countries of Central Europe, including Poland, be-came a “buffer zone” for the European Union. This was not the result of a deliberate policy by the EU; Poland and the other countries in Central Europe wanted to begin cooperation with the EU as soon as possible, hoping to become its members.Future membership in the Union required Poland to adopt and implement the regulations of the Schengen legal order, which included control on its external borders, a common visa regime, combating cross-border crime, migration policy, infrastructure for border protection, as well as cooperation of border, customs and police services. Adopting the EU standards formed the basis for drawing up and implementing strategic governmental projects: The Action Plan for the Implementation of the Schengen Legal Heritage in Poland as well as the Strategy for the Integrated Border Management.Membership in the EU entailed a wide range of legal, institutional and infrastructural adjustments along the Polish and Russian border, as Poland came to be responsible for the safety of each specific section of the external border. In order to meet the Schengen regulations on the Polish and Russian border, the authorities of the Province of Warmia and Mazury began implementing projects and plans for managing the national border with respect to modernising its infrastructure and construction of border crossings. On the other hand, The Warmia and Mazury Division of the Border Guard took action in border protection consisting in adjusting border protection standards to the border crime threats, illegal migration as well as the intro-duction of regulations to allow for free transfer of persons and objects across the border.

Sign in / Sign up

Export Citation Format

Share Document