Part VI European Securities Markets Supervision, 17 Regulation and Consolidation of European Markets and Exchanges

2021 ◽  
Author(s):  
Nobel Peter ◽  
Kaempf Markus
Keyword(s):  
European Union ◽  
State Level ◽  
Securities Markets ◽  
The European Union ◽  
Freedom Of Movement ◽  
Unequal Treatment ◽  
Market Participants ◽  
The Difference ◽  
European Markets ◽  
Free Movement Of Capital

This chapter puts an emphasis on the regulation of marketed products, conduct of the issuers and operators, and the distribution of financial instruments. It mentions the basic provision on cross—border investment in the European Union (EU) that is found in Art 63 of the Treaty on the Functioning of the European Union (TFEU), which guarantees the free movement of capital. It also explains the difference of the freedom of movement of capital from all other economic freedoms provided by TFEU. This chapter describes how market participants from non—EU countries benefit from the freedom of movement of capital, which does not need any implementing legislation at member State level. It also discusses how the freedom of capital movement lays down a general prohibition that goes beyond the mere elimination of unequal treatment on grounds of nationality.

scholarly journals UNION REGULATIONS ON PASSENGER RIGHTS IN CASE OF FLIGHT CANCELLATION, REFUSAL AT BOARDING OR LONG DELAY OF FLIGHTS

2019 ◽  
Vol 13 (1) ◽  
pp. 31-36
Author(s):  
ELISE NICOLETA VÂLCU
Keyword(s):  
European Union ◽  
Member State ◽  
State Level ◽  
The European Union ◽  
Judicial Cooperation ◽  
Law System ◽  
Freedom Of Movement ◽  
Goods And Services ◽  
The Right ◽  
Criminal Matters

The European Union is a "supranational governance" structured by its well-defined institutions. The decision-making triangle formed by the Commission, the Parliament and the Council legislate in agreement or consultation, covering the whole picture of policies developed at EU level and implemented at Member State level. Among the most important developed policies, it is necessary to mention the freedom of movement of the Union nationals, freedom of movement of goods and services, judicial cooperation in criminal matters, etc. Freedom of movement implies a series of segmental rights, such as the right to temporary or permanent residence, the right to work, to travel and study, etc. The Union law system identifies legal instruments to regulate the rights of passengers traveling within the Union, from the Union to a third country, or arriving in the territory of a Member State irrespective of the type of transport, air, rail, water or road.At present, in the field of air transport we identify Regulation no. 261/2004 on the right to compensation and assistance to passengers in the event of refusal of boarding and cancellation or long delay of flights, which is part of a comprehensive package of legislation aimed at protecting consumers in general across the European Union.

Making Europe—Processes of Europe-Formation since 1945

2000 ◽  
Vol 48 (1_suppl) ◽  
pp. 235-256
Author(s):  
Dennis Smith
Keyword(s):  
European Union ◽  
Western Europe ◽  
State Level ◽  
The United States ◽  
Social Processes ◽  
National Society ◽  
The European Union ◽  
National State ◽  
Civilizing Process ◽  
Norbert Elias

Dennis Smith argues that the development of the European polity that has become the European Union has been shaped by social processes similar in many respects to those analysed by Norbert Elias in The Court Society and The Civilizing Process. However, these processes have occurred at the supra-state level whereas Elias described them as they occurred at the level of the developing national state, especially during the sixteenth and seventeenth centuries. During the 1940s and 1950s the United States played a key role in pacifying the European nations and imposing a framework of rules for the conduct of their economic and diplomatic affairs. States in western Europe were increasingly locked into tight bonds of interdependence. This movement towards integration was complemented by the disembedding of regions and large businesses from their close ties to the national state; they became ‘Europeanised’. Brussels became Europe's Versailles, a place where the courtier's skills were employed by the lobbyist. It is suggested that just as France represented, in Elias's eyes, a vanguard society within Europe in respect of the civilising process at the level of the national society, the European Union may play such a role globally in respect of developments at the supra-state level.

Turkey and Europe: The Role of Migration

2013 ◽  
Vol 21 (3) ◽  
pp. 394-399
Author(s):  
Pieter Emmer
Keyword(s):  
European Union ◽  
Political Parties ◽  
The Netherlands ◽  
The European Union ◽  
Full Member ◽  
Turkish Immigrants ◽  
Eu Member States ◽  
The Difference ◽  
The Eu

In spite of the fact that negotiations have been going on for years, the chances that Turkey will eventually become a full member of the European Union are slim. At present, a political majority among the EU-member states headed by Germany seems to oppose Turkey entering the EU. In the Netherlands, however, most political parties are still in favour of Turkey's membership. That difference coincides with the difference in the position of Turkish immigrants in German and Dutch societies.

scholarly journals Les conséquences des politiques de régulation par délégation de pouvoirs à des agences indépendantes

Federalism-E ◽  
1969 ◽  
Vol 5 (1) ◽  
Author(s):  
Olivier Grandjean
Keyword(s):  
European Union ◽  
Economic Efficiency ◽  
Market Competition ◽  
The European Union ◽  
Economic Role ◽  
Form Of Government ◽  
New Form ◽  
European Markets ◽  
The Welfare State

Regulation of European markets has changed considerably since 1980. As a result of factors such as European integration, international forces, and the decline of the welfare state, European governments have opted for other development strategies. Most notably, there has been a movement to privatize state-owned industries, as well as to develop new constitutive rules of competition that aim to ensure market competition in order to both obtain optimal economic efficiency and most efficiently allocate resources. The economic role of the European Union has thus been reinforced accordingly. Moreover, an indirect form of government in such matters has also emerged. These strategies have ultimately developed into a new form of government, which is characterized by changes in the official functions, institutions, actors and the types of policies followed on the matters.[...]

scholarly journals E-justice and international land conveyancing

2019 ◽  
Vol 5 (1) ◽  
pp. 76-84
Author(s):  
Afonso Patrão
Keyword(s):  
European Union ◽  
International Cooperation ◽  
The European Union ◽  
Travel Costs ◽  
Freedom Of Movement ◽  
Cross Border

This paper explores the obstacles regarding cross-border transactions on immoveable property within the European Union. The existence of obstacles to the exercise of the freedom of movement of capitals, such as travel costs to the country where the property is located and finding a notary there, may even lead the parties not to enter in those contracts. E-justice solutions are being created to solve such situations and this paper reflects if they are enough to overcome the difficulties and rectify current deficiencies. It concludes by examining the tendency of solving the difficulties of international cooperation between non-judicial authorities through e-Justice tools.

VALUE ADDED TAX IN THE EUROPEAN UNION

2021 ◽  
Vol 62 (01) ◽  
pp. 186-189
Author(s):  
Nigar Yadulla Shahgaldiyeva ◽  
Keyword(s):  
European Union ◽  
Key Words ◽  
Value Added ◽  
The European Union ◽  
Value Added Tax ◽  
Tax System ◽  
Manufactured Goods ◽  
The Difference

Value-added tax is an indirect tax based on the sale value of goods, production and non-manufactured goods as an object of taxation. According to the mechanism and procedures for the calculation and payment of value added tax, this tax is not directly imposed by a particular person, but applies to consumers in the process of return. In this case, the value added tax is neutral for securities. In addition, value added tax is universal and is characterized by the difference between purchases at each stage of production and turnover. In connection with the calculation of value added tax, the taxpayer's tax liability to the budget consists of the difference between the amount of tax assessed on taxable turnover and the amount of tax to be deducted in accordance with the documents. Key words: European Union, value Added Tax, tax, tax system

Part II UK Securities Markets, 4 Recognized Investment Exchanges (RIEs) and Recognized Clearing Houses (RCHs)

2021 ◽  
Author(s):  
Penn Bob ◽  
Forzani Alex ◽  
Allen & Overy LLP
Keyword(s):  
European Union ◽  
Financial Services ◽  
Securities Markets ◽  
Financial Instruments ◽  
The European Union ◽  
Financial Contracts ◽  
The Uk ◽  
Final Settlement ◽  
Market Infrastructure

This chapter summarizes and discusses the UK regulatory framework for recognized investment exchanges (RIEs) and recognized clearing houses (RCHs) under the Financial Services and Markets Act 2000 (FSMA). It considers the framework in light of the current and forthcoming European legislation. It also examines the applicability of the framework to RIEs and RCHs in the context of the recast Markets in Financial Instruments Directive II (MiFID II), European Market Infrastructure Regulation (EMIR) and the UK's departure from the European Union (Brexit). This chapter outlines the central role of exchanges and clearing houses in the operation of financial markets. It explains that the exchanges offer marketplaces for the trading of financial instruments, provide market data which facilitates trading, and establish standards for the offering of securities, while clearing houses manage the performance of financial contracts between the point of execution and final settlement and mitigating the risk and consequences of default.

14. Interest Groups and the European Union

2019 ◽  
pp. 201-218
Author(s):  
Rainer Eising
Keyword(s):  
European Union ◽  
Interest Groups ◽  
Interest Group ◽  
The European Union ◽  
Group System ◽  
The Difference ◽  
Group Structures ◽  
The Relationship ◽  
The Eu

This chapter examines the role of interest groups in European Union (EU) politics. It also considers the way in which the EU institutions influence interest group structures and activities. The chapter begins with an overview of the relationship between the EU institutions and interest groups and examines the steps taken thus far to regulate that relationship. It then looks at the evolution and the structure of the interest group system, focusing in particular on two salient aspects: the difference between national and EU organizations; and the difference between specific and diffuse interests.

Use of OSS by Local E-Administration

2011 ◽  
pp. 428-444
Author(s):  
Laurence Favier ◽  
Joël Mekhantar
Keyword(s):  
European Union ◽  
State Level ◽  
Free Software ◽  
Public Private Partnerships ◽  
State Agencies ◽  
The European Union ◽  
Constitutional Principle ◽  
Open Standards ◽  
Four Levels ◽  
Definition Of

This chapter deals with the integration of OSS in local and territorial e-administration and its relations with the state level in France. France includes both many local collectivities: (36,568 local collectivities) on four levels (local, departmental, regional, and central) and a centralized State. The policies defined in France and promoted by initiatives from the European Union are leading to the definition of a normative framework intended to promote interoperability between information systems, the use of free software and open standards, public-private partnerships, development of know-how and abilities. These policies are applicable to State agencies but are not required for local and regional collectives because of the constitutional principle of administrative freedom. The chapter shows how the integration of all administrative levels can be operated in an e-administration framework OSS based, often coexisting with proprietary software. The legal, political, and technical (III) frameworks of such integration are presented.

Effective enforcement of EU labour law: A comparative example

2020 ◽  
Vol 11 (4) ◽  
pp. 403-412
Author(s):  
Michael Gotthardt
Keyword(s):  
European Union ◽  
Catholic Church ◽  
Fundamental Rights ◽  
Employment Relationship ◽  
Equal Treatment ◽  
European Convention ◽  
The European Union ◽  
Unequal Treatment ◽  
Procedural Law ◽  
Charter Of Fundamental Rights

The article looks at the outcome of the two legal proceedings in the Schüth and IR cases. In both cases employees of the Catholic Church – a choirmaster and organist in a Catholic parish and a trained physician working as Head of the Internal Medicine Department of a Catholic hospital - were dismissed because of the violation of the Basic Regulations on Employment Relationships in the Service of the Church. In the Schüth case Article 8 of the European Convention on Human Rights (ECHR), which protects the right to private and family life, had been violated. In the IR case the Charter of Fundamental Rights of the European Union and the Directive establishing a general framework for equal treatment in employment and occupation were applicable. The dismissal in IR was held to be unequal treatment in employment. But the outcome of both cases was very different. We find that Union law and in particular Article 47 of the Charter of Fundamental Rights of the European Union makes all the difference. In the Schüth case, the employment relationship was terminated and the claimant’s only consolation was a claim for damages from the State. In the IR case, on the other hand, the termination was declared invalid and the employment relationship continued, i.e. the head physician did not lose his job. The comparison of the cases demonstrates that European law, backed by Article 47 of the Charter of Fundamental Rights of the European Union, has not only permeated procedural law, it has also led to an increase in judicial reviews of substantive law which in the application of Union law is a far cry from a mere plausibility review.

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