Cross-border Distribution of Collective Investment Products in the EU

2018 ◽  
Author(s):  
Matteo Gargantini ◽  
Carmine Di Noia ◽  
Georgios Dimitropoulos
Keyword(s):  
Home Country ◽  
Legal Framework ◽  
Business Rules ◽  
Investment Funds ◽  
Legal Rules ◽  
Section 8 ◽  
Cross Border ◽  
Product Regulation ◽  
Supervisory Practices ◽  
The Eu

This chapter analyzes the current regulatory framework for cross-border distribution of investment funds and submits some proposals to improve it. The chapter is organized as follows. Section 2 provides a schematic description of the legal taxonomy for collective investment schemes. Section 3 addresses the EU disclosure regimes that apply to the distribution of various types of investment funds. Sections 4 and 5 consider conduct-of-business rules and, respectively, the legal framework for the allocation of supervisory powers on product regulation when fund units are distributed in more than one country. Section 6 provides some data that help assess the performance of the current framework for cross-border distribution. It then analyzes some of the residual legal rules and supervisory practices that still make cross-border distributions of funds more burdensome than purely national distributions, whether these restrictions are set forth in the country where investors are domiciled (Section 7) or in the fund's home country (Section 8).

Thematic Priorities For Sustainable Development of Ukraine-Romania Cross-Border Cooperation (The Case Study of Chernivtsi Region)

2020 ◽  
pp. 205-219
Author(s):  
Valentyna Bohatyrets ◽  
Liubov Melnychuk ◽  
Yaroslav Zoriy
Keyword(s):  
Foreign Policy ◽  
Quantitative Research ◽  
Legal Framework ◽  
Cultural Development ◽  
Cross Border ◽  
Strategic Orientations ◽  
The Impact ◽  
Further Development ◽  
Cross Border Cooperation ◽  
The Eu

This paper seeks to investigate sustainable cross-border cooperation (CBC) as a distinctive model of interstate collaboration, embedded in the neighboring borderland regions of two or more countries. The focus of the research revolves around the establishment and further development of geostrategic, economic, cultural and scientific capacity of the Ukrainian-Romanian partnership as a fundamental construct in ensuring and strengthening the stability, security and cooperation in Europe. This research highlights Ukraine’s aspirations to establish, develop and diversify bilateral good-neighborly relations with Romania both regionally and internationally. The main objective is to elucidate Ukraine-Romania cross-border cooperation initiatives, inasmuch Ukraine-Romania CBC has been stirring up considerable interest in terms of its inexhaustible historical, cultural and spiritual ties. Furthermore, the similarity of the neighboring states’ strategic orientations grounds the basis for development and enhancement of Ukraine-Romania cooperation. The authors used desk research and quantitative research to conclude that Ukraine-Romania CBC has the impact not only on the EU and on Ukraine multi-vector foreign policy, but it also has the longer-term global consequences. In the light of the current reality, the idea of introducing and reinforcing the importance of Cross-Border Cooperation (CBC) sounds quite topical and relevant. This research considers a number of explanations for Ukraine-Romania Cross-Border Cooperation as a key element of the EU policy towards its neighbors. Besides, the subject of the research is considered from different perspectives in order to show the diversity and complexity of the Ukraine-Romania relations in view of the fact that sharing common borders we are presumed to find common solutions. As the research has demonstrated, the Ukraine-Romania cross border cooperation is a pivotal factor of boosting geostrategic, economic, political and cultural development for each participant country, largely depending on the neighboring countries’ cohesion and convergence. Significantly, there is an even stronger emphasis on the fact that while sharing the same borders, the countries share common interests and aspirations for economic thriving, cultural exchange, diplomatic ties and security, guaranteed by a legal framework. The findings of this study have a number of important implications for further development and enhancement of Ukraine-Romania cooperation. Accordingly, the research shows how imperative are the benefits of Romania as a strategic partner for outlining top priorities of Ukraine’s foreign policy.

European Cross-Border Banking and Banking Supervision

2020 ◽  
Author(s):  
Dalvinder Singh
Keyword(s):  
Home Country ◽  
Current System ◽  
Banking System ◽  
Central Banking ◽  
International Standards ◽  
Banking Union ◽  
Cross Border ◽  
Banking Institutions ◽  
Control Principle ◽  
The Eu

This book provides timely analysis of the cross-border exercise of banking activity in the EU and its supervision, from the perspective of the ‘home-host rule’. It examines the current system and the efficacy of recent reforms considering whether the centralization of decision making and a more effective mutualization of financing tools could increase the efficiency of the EU banking system. The EU banking market is very integrated since banking institutions based in the Union are free to perform their activities within the common market. This has allowed EU banking institutions to significantly increase their cross-border operations. This way of working is based on the home country control principle according to which EU institutions performing cross-border activities continue to be supervised by their home country supervisor. However, this system has raised challenges for effectively performing supervision and resolution. The book analyses how far recent reforms under the banking union regime have addressed these issues. It analyses the main pillars of the banking union. It also analyses how international standards and EU requirements undertake to divide responsibilities between the home and host state and the extent to which they align interests between the home and host and minimize potential conflicts of interests. The book provides a valuable resource for academics researching on central banking union and regulation, and helps legal practitioners to address questions of supervision, resolution, and insolvency with a cross-border element.

Part VIII Cooperation in Antirust Enforcement, 22 International Cooperation

2020 ◽  
Author(s):  
Smijter Eddy De ◽  
Gasparon Philipp ◽  
Berghe Pascal
Keyword(s):  
European Commission ◽  
International Cooperation ◽  
Legal Framework ◽  
Merger Control ◽  
Antitrust Enforcement ◽  
International Dimension ◽  
Cross Border ◽  
Exchange Of Information ◽  
The U.S ◽  
The Eu

This chapter studies the cooperation between the European Commission and competition authorities and courts outside the EU, at both bilateral and multilateral level, and highlights the importance of that cooperation in the context of proliferation of competition regimes and the continual increase in cross-border business activities. In more than half of its enforcement activities, the Commission cooperates with one or more foreign jurisdictions, obviously with varying degrees of intensity. The bulk of this international cooperation, in the fields of both merger control and anticompetitive practices, is with the U.S. and the Canadian competition authorities. The chapter then sets out the legal framework for international cooperation and explains the principles determining the Commission’s jurisdiction in cases having an international dimension. It also considers cooperation in antitrust enforcement, with particular attention given to the exchange of information and disclosure of evidence.

scholarly journals The EU 2018 Draft Directive on UTPs in B2b Food Supply Chains and the Polish 2016 Act on Combating the Unfair Use of Superior Bargaining Power in the Trade in Agricultural and Food Products

2018 ◽  
Vol 11 (17) ◽  
pp. 143-167
Author(s):  
Anna Piszcz
Keyword(s):  
Food Supply ◽  
Bargaining Power ◽  
Food Products ◽  
Legal Framework ◽  
Unfair Competition ◽  
Legal Rules ◽  
Food Supply Chains ◽  
Business To Business ◽  
Further Development ◽  
The Eu

The Polish Act on Counteracting the Unfair Use of Superior Bargaining Power in the Trade in Agricultural and Food Products was adopted on 15 December 2016 and entered into force on 12 July 2017. The new legal framework resembles, in some places, the legal rules contained in the 2007 Act on Competition and Consumer Protection, elsewhere resembles the 1993 Act on Combating Unfair Competition. Therefore, the article reviews the new Polish provisions taking into account the previous system including the prohibition of the abuse of a dominant position and the prohibition of unfair competition. This publication is intended to point out the peculiarities that characterize the new provisions. Readers will find here an assessment of recent Polish developments and suggestions for further development of the Polish legal framework in the EU context. In particular, the review critically analyses some solutions of the 2018 EU draft Directive on unfair trading practices in business-to-business relationships in the food supply chain and shows what amendments to the Polish legal framework will be needed, if the Directive is adopted in the current version

scholarly journals Small and medium sized enterprises (SMEs) and transfer pricing

2012 ◽  
Vol 60 (2) ◽  
pp. 349-356
Author(s):  
Veronika Solilová
Keyword(s):  
Home Country ◽  
Transfer Pricing ◽  
Internal Market ◽  
International Taxation ◽  
Member States ◽  
Compliance Costs ◽  
Cross Border ◽  
Tax Systems ◽  
Important Position ◽  
The Eu

Small and medium sized enterprises have very important position in the EU economy, mainly in the area of growth and employment. However, most of SMEs are active only in their home country and only a few of them participate in cross-border activities. Furthermore, their activities in the internal market are limited by great deal of obstacles, mainly in the form of different tax systems which generate excessive compliance costs of taxation and the existence of different SMEs definitions for various purposes in Member states. In addition, from the view of the international taxation issues, the most important obstacles can be considered a transfer pricing and cross-border loss compensations. In this area, SMEs are facing specific problems and have specific needs. The aim of the paper is to analyze and evaluate the specific transfer pricing issues of SMEs and propose recommendations for them.

scholarly journals Cross‑Border Mediation: Towards a Balanced Framework for Cross‑Border Dispute Resolution in the European Union

2021 ◽  
Vol 24 (4) ◽  
pp. 515-560
Author(s):  
Martin Senftl
Keyword(s):  
European Union ◽  
International Law ◽  
Dispute Resolution ◽  
Legal Framework ◽  
Private International Law ◽  
The European Union ◽  
Playing Field ◽  
Cross Border ◽  
Border Dispute ◽  
The Eu

This paper takes the entry into force of the Singapore Convention on Mediation on 12 September 2020 as an opportunity to reconsider whether the European Union has reached its once ambitious goal to create a balanced relationship between mediation and litigation in cross-border disputes. After a brief overview of the current legal framework for cross-border mediation in the EU in the first section, the meaning of the concept of a balanced relationship and its implications for the regulation of mediation in cross-border disputes are analysed. Starting with the observation that the use of cross-border mediation is still very limited, this second section argues that attempts to establish a balanced relationship in quantitative terms are misguided. Instead of attempting to correct alleged decision deficits by the parties to a dispute, the paper emphasises the regulatory responsibility of European legislators to create a level playing field for different cross-border dispute resolution mechanisms. In this respect, the third section identifies the surprising absence of private international law rules in the EU’s mediation framework as a structural disadvantage of mediation, as compared to litigation and arbitration. The last part of the paper examines in detail the interaction between mediation and the Brussels Ia Regulation to provide specific examples of legal obstacles to cross-border mediation and potential ways to overcome them.

scholarly journals Multilateral Mechanisms for Eliminating the Global Phenomena of Double Non-Taxation / Multilateralni mehanizmi za eliminaciju globalnog fenomena dvostrukog neoporezivanja

2015 ◽  
Vol 5 (5) ◽  
pp. 213
Author(s):  
Dinka Antić
Keyword(s):  
Best Practices ◽  
Tax Evasion ◽  
Legal Framework ◽  
Capital Allocation ◽  
Market Exchange ◽  
Global Business ◽  
Operational Model ◽  
Cross Border ◽  
Tax Fraud ◽  
The Eu

Internationalization of administrative cooperation of tax administrations is an adequate response to the growing internationalization of taxpayers’ business and the emergence of new financial instruments. The emergence of cross-border and international tax frauds in addition to threatening the budgets of states, it also undermines fairness of taxation, since regular taxpayers pay more tax than they should, and threatens the efficiency of capital allocation and equal competition in the market. Exchange of information on taxpayers and transactions within multilateral agreements allows states to assess properly tax obligations in the field of direct taxes but also to combat tax evasion and tax fraud and eliminate double non-taxation at the global level. The adoption of a harmonized legal framework for cooperation between tax administrations is the winning of new forces in the world that are committed to maximum transparency in taxation and finances in global business. Bearing in mind the commitment of B&H for European integrations the operational model of administrative cooperation of tax administrations in B&H should be based on mechanisms, standards and best practices of the EU. Such approach would not only enable the fulfillment of obligations to the IMF but it would also represent an appropriate step towards integrating B&H into the system of administrative cooperation of tax administrations of the EU.

scholarly journals The Ethics of Reciprocity in the Light of the German and the English Charitable Sector and Emerging Trends in European Philanthropic Governance

2013 ◽  
Vol 13 (2) ◽  
pp. 67-83
Author(s):  
Nina C. Lück
Keyword(s):  
Civil Society ◽  
Global Financial Crisis ◽  
Third Sector ◽  
Legal Framework ◽  
Research Area ◽  
Non Profit ◽  
Cross Border ◽  
European Foundation ◽  
The Global Financial Crisis ◽  
The Eu

Abstract The lively debate about European cross-border donations and the European philanthropic landscape that has been started has seemingly reached a slight standstill since the global financial crisis and austerity plans are dominating the every day discussion. However, the European non-profit sector remains an area that is of crucial importance for the European labour market, the European Research Area, and most importantly, the participation of European civil society which directly influences questions of citizenship and European identity. The paper will compare the origin and legal framework of the English and the German charitable foundations and link it to the EU’s third sector where the European Foundation Centre (EFC) as a key representative for civil society actors in the non-profit area and the Commission play a pivotal role in the establishment of a European Foundation Statute (FE) that is meant to facilitate cross-border donations and non-profit activities throughout the EU. In the concluding part, the wider meaning of a strong third sector in the EU will be analysed.

Innovation in the EU Gas Sector

2018 ◽  
Author(s):  
Martha Roggenkamp ◽  
Jacob Sandholt ◽  
Daisy G Tempelman
Keyword(s):  
Natural Gas ◽  
National Level ◽  
Quality Standards ◽  
Legal Framework ◽  
Gas Field ◽  
Cross Border ◽  
Gas System ◽  
Gas Market ◽  
Natural Gas System ◽  
The Eu

The EU natural gas system has been developed since the 1960s, following discovery of the Groningen gas field. Climate change and security of supply challenges are affecting the natural gas market, provoking greener innovation including the introduction of renewable gases, such as biogas, which needs to be converted to biomethane (natural gas quality) before injection into the natural gas system and transported cross-border. This chapter examines the legal framework on EU and national level. Special attention is paid to: the extent to which biogas/biomethane is considered a renewable energy source; safety and quality standards; access and connection rules. National gas quality standards may, however, prove to be an obstacle for transportation cross-border. In addition, there is a trend towards cross-border contractual trade in biomethane and slowly emerging organizational developments facilitating cross-border trade in biomethane.

scholarly journals Corporate Mobility – The Involvement of Employees

2019 ◽  
Vol 16 (1-2) ◽  
pp. 74-105
Author(s):  
Joti Roest
Keyword(s):  
European Commission ◽  
Employee Participation ◽  
Legal Framework ◽  
Negotiation Process ◽  
Employee Representation ◽  
Cross Border ◽  
Political Compromise ◽  
Board Level ◽  
Corporate Mobility ◽  
The Eu

In April 2018, the European Commission presented a proposal for a Directive amending Directive 2017/1132 as regards cross-border conversions, mergers and divisions. This article discusses the proposed provisions to protect the interests of employees in a cross-border operation. Their position would be strengthened since employee representatives are granted information and consultation rights. As to the protection of existing board level employee representation rights, the Proposal follows the EU legal framework on the involvement of employees, consisting of a negotiation process between representatives of the employees and the management. As Standard Rules apply if no agreement can be reached, negotiations take place with the law as a sentinel. Practice has shown that this complicated legal framework is effective in protecting existing employee participation rights. The Proposal shows that in 2019, this carefully vetted political compromise leaves EU legislators little room to manoeuvre by simplifying the framework or strengthening the position of employees.

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