Self-placement of Complex Financial Instruments by Banks to Retail Clients and Civil Liability Issues – An Overview of Greek Case-Law

2021 ◽  
Vol 18 (1) ◽  
pp. 34-75
Author(s):  
Anna O. Mitsou
Keyword(s):  
Civil Law ◽  
Civil Liability ◽  
Case Law ◽  
The Other ◽  
Recent Case ◽  
Financial Instruments ◽  
Securities Litigation ◽  
Retail Investor ◽  
The One ◽  
The Eu

Abstract This study focuses on self-placement of complex financial instruments to retail clients which is often associated with mis-selling practices. Recent case law in Greece concerning distribution Of “Coco” bonds by a Cypriot bank to its clients reveals, on the one hand, the stand Of Greek Courts concerning the interpretation of certain ambiguous MiFID I Conduct of Business (COB) rules and, on the other, their interplay with civil law duties and the intricacies that arise in order to substantiate a civil liability claim for breach of the COB rules, such as the difficulty to prove causation in securities litigation. The study further evaluates the new MiFID II/MiFIR provisions that relate to the practice of self-placement and supports the adoption of a civil liability regime at the EU level, as well as other alternatives to further enhance retail investor protection.

The Case of the Electronic Cigarette in the EU

2014 ◽  
Vol 21 (2) ◽  
pp. 161-175 ◽  
Author(s):  
Eugenie Syx
Keyword(s):  
Smoking Cessation ◽  
The Netherlands ◽  
Legal Status ◽  
Case Law ◽  
Legal Framework ◽  
Electronic Cigarette ◽  
The Other ◽  
The One ◽  
Smoking Cessation Therapy ◽  
The Eu

Abstract Although the electronic cigarette was invented in 2004, only recently the product has started to provoke discussion. On the one hand, the electronic cigarette is characterized by scientific uncertainties. It is not clear whether the device can be used in smoking cessation therapy, whether the use induces non-smokers — including minors — to start smoking and whether the vaporized substances and the act of vaporizing itself (which is smoking an electronic cigarette) is harmful. On the other hand, there is no harmonised European legal framework and different Member States attribute a different legal status to the e-cigarette. In this article, the author analyses how the e-cigarette should be qualified according to the current European legislation and ecj case law and describes how the e-cigarette is qualified in the uk, France, the Netherlands, Belgium and Spain.

The Making of a President: The European Parliament and the Confirmation of Jacques Santer as President of the Commission

1996 ◽  
Vol 31 (1) ◽  
pp. 62-76 ◽  
Author(s):  
Simon Hix ◽  
Christopher Lord
Keyword(s):  
European Parliament ◽  
The Other ◽  
The European Union ◽  
Political Debate ◽  
European Elections ◽  
Shared Meanings ◽  
Single European Act ◽  
The One ◽  
Council Of Ministers ◽  
The Eu

THE SINGLE EUROPEAN ACT AND THE MAASTRICHT TREATY attempted to balance two principles of representation in their redesign of the institutional structures of the European Union: the one, based on the indirect representation of publics through nationally elected governments in the European Council and Council of Ministers; the other, based on the direct representation of publics through a more powerful European Parliament. There is much to be said for this balance, for neither of the two principles can, on its own, be an adequate solution at this stage in the development of the EU. The Council suffers from a non-transparent style of decision-making and is, in the view of many, closer to oligarchic than to democratic politics. On the other hand, the claims of the European Parliament to represent public sentiments on European integration are limited by low voter participation, the second-order nature of European elections and the still Protean nature of what we might call a transnational European demos. The EU lacks a single public arena of political debate, communications and shared meanings; of partisan aggregation and political entrepreneurship; and of high and even acceptance, across issues and member states, that it is European and not national majority views which should count in collective rule-making.

scholarly journals Territoriality Beyond the State: The EU’s Territorial Claims and the Search for Their Legitimacy

2021 ◽  
Vol 22 (4) ◽  
pp. 650-672
Author(s):  
Josef Weinzierl
Keyword(s):  
The State ◽  
Political Community ◽  
The Other ◽  
Main Question ◽  
Eu Law ◽  
European Level ◽  
Territorial Claims ◽  
The One ◽  
The Individual ◽  
The Eu

AbstractQuite a few recent ECJ judgments touch on various elements of territorial rule. Thereby, they raise the profile of the main question this Article asks: Which territorial claims does the EU make? To provide an answer, the present Article discusses and categorizes the individual elements of territoriality in the EU’s architecture. The influence of EU law on national territorial rule on the one hand and the emergence of territorial governance elements at the European level on the other provide the main pillars of the inquiry. Once combined, these features not only help to improve our understanding of the EU’s distinctly supranational conception of territoriality. What is more, the discussion raises several important legitimacy questions. As a consequence, the Article calls for the development of a theoretical model to evaluate and justify territoriality in a political community beyond the state.

scholarly journals The European Union's policy on human rights and Chinese sovereignism: The case of Xinjiang

2021 ◽  
Vol 73 (1) ◽  
pp. 58-86
Author(s):  
Dragan Trailovic
Keyword(s):  
Human Rights ◽  
Individual Case ◽  
The Other ◽  
Individual Member ◽  
The European Union ◽  
Member States ◽  
The One ◽  
Xinjiang Uyghur Autonomous Region ◽  
Rights Issues ◽  
The Eu

The article explores the European Union's approach to human rights issues in China through the processes of bilateral and multilateral dialogue on human rights between the EU and the People's Republic of China, on the one hand. On the other hand, the paper deals with the analysis of the EU's human rights policy in the specific case of the Xinjiang Uyghur Autonomous Region, which is examined through normative and political activities of the EU, its institutions and individual member states. Besides, the paper examines China's response to the European Union's human rights approaches, in general, but also when it comes to the specific case of UAR Xinjiang. ?his is done through a review of China's discourse and behaviour within the EU-China Human Rights Dialogue framework, but also at the UN level and within the framework of bilateral relations with individual member states. The paper aims to show whether and how the characteristics of the EU's general approach to human rights in China are reflected in the individual case of Xinjiang. Particular attention shall be given to the differentiation of member states in terms of their approach to human rights issues in China, which is conditioned by the discrepancy between their political values, normative interests and ideational factors, on the one hand, and material factors and economic interests, on the other. Also, the paper aims to show the important features of the different views of the European Union and the Chinese state on the very role of Human Rights Dialogue, as well as their different understandings of the concept of human rights itself. The study concluded that the characteristics of the Union's general approach to human rights in China, as well as the different perceptions of human rights issues between China and the EU, were manifested in the same way in the case of UAR Xinjiang.

scholarly journals ETHICAL PRINCIPLES OF SOCIETY AS REGULATORY FACTORS OF CIVIL LAW OF UKRAINE: THE ISSUE OF VALIDITY

2019 ◽  
pp. 16-20
Author(s):  
V. Кroitor
Keyword(s):  
Civil Law ◽  
The Other ◽  
Ethical Principles ◽  
Regulatory Requirements ◽  
Regulatory Factors ◽  
Other Hand ◽  
Moral Rules ◽  
The Law ◽  
The One

The article studies the issue of scientific and practical validity of applying ethical principles of society as regulatory factors of civil law of Ukraine. Taking into account the lack of validity of ethical principles of society as regulatory factors, the author attempts to make a correlation between the content of such principles of civil law as fairness, integrity and reasonableness, on the one hand, and ethical principles of the society, on the other hand. The author of the paper proves that it is inappropriate to apply the provisions of morality as regulatory factors for the regulation of civil relations. The conclusion on the objection to the civil regularity of ethical principles of society is based on several theses. Firstly, moral rules are not formalized, which creates a threat of arbitrary interpretation of their content. Secondly, ethical principles do not have a definite source of origin. Thirdly, the fundamental ethical rules have already been taken into account in the content of the principles of fairness, integrity and reason, which in turn create competition between the two types of regulatory factors. Unreasonable duplication of regulatory requirements reduces the functionality of the law, complicates the perception of its requirements. The competition between the principles of law and the ethical principles of society must be eliminated by refusing to give the latter the function of regulatory factors. The author of the paper does not deny the possibility of taking into account the ethical principles of society while regulating the relations that have been neglected by the "official law".

Physical Education and Religious Freedom

2019 ◽  
pp. 144-155
Author(s):  
Konstantinos Margaritis
Keyword(s):  
Human Rights ◽  
Physical Education ◽  
Religious Freedom ◽  
Case Law ◽  
Democratic Society ◽  
The Other ◽  
Recent Case ◽  
Freedom Of Religion ◽  
Other Hand ◽  
European Court

Freedom of religion has been constantly characterized as one of the foundations of a democratic society. On the other hand, the significance of physical education in the development of children's overall personality is beyond dispute. Thus, the question that arises is, What happens in a case of a conflict involving the above? The aim of this chapter is to provide an answer on the basis of the case law of the European Court of Human Rights. In particular, the fundamental cases of Dogru vs. France and Kervanci vs. France will be examined, as well as the recent case of Osmanoglu and Kocabas vs. Switzerland. Through the analysis of the cases, useful conclusions will be drawn on the possible impact of religious freedom on physical education.

The EU after Brexit

2020 ◽  
pp. 83-109
Author(s):  
Federico Fabbrini
Keyword(s):  
European Union ◽  
Fiscal Federalism ◽  
Legal Order ◽  
The Other ◽  
The European Union ◽  
New Horizons ◽  
The One ◽  
Unanimous Approval ◽  
Amendment Procedure ◽  
The Eu

This chapter focuses on the European Union after Brexit and articulates the case for constitutional reforms. Reforms are necessary to address the substantive and institutional shortcomings that patently emerged in the context of Europe’s old and new crises. Moreover, reforms will be compelled by the exigencies of the post-Covid-19 EU recovery, which pushes the EU towards new horizons in terms of fiscal federalism and democratic governance. As a result, the chapter considers both obstacles and opportunities to reform the EU and make it more effective and legitimate. On the one hand, it underlines the difficulties connected to the EU treaty amendment procedure, owing to the requirement of unanimous approval of any treaty change, and the consequential problem of the veto. On the other hand, it emphasizes the increasing practice by Member States to use intergovernmental agreements outside the EU legal order and stresses that these have set new rules on their entry into force which overcome state veto, suggesting that this is now a precedent to consider.

3. Certainty and formalities

2018 ◽  
Author(s):  
Elizabeth Macdonald ◽  
Ruth Atkins ◽  
Jens Krebs
Keyword(s):  
Supreme Court ◽  
Case Law ◽  
The Other ◽  
Court Case ◽  
Flexible Systems ◽  
Electronic Transactions ◽  
Supreme Court Case ◽  
Electronic Contracting ◽  
The One ◽  
Binding Agreement

This chapter looks at the need for certainty and formalities in contracting. It explores case law which illustrates, on the one hand, that a willingness of the parties to make a contract does not necessarily amount to a legally binding agreement, whilst on the other hand, there is potential for the court to fill in any gaps to give effect to agreements. The issues surrounding an agreement which is expressed to be ‘subject to contract’ are explored in light of the recent Supreme Court case of RTS Flexible Systems Ltd. The reasons for when contract formalities may be required are also noted. There is also discussion of electronic contracting, in relation to the introduction of the Electronic Identification and Trust Services for Electronic Transactions Regulations (2016/696).

The “Polemical” Spirit of European Constitutional Law: On the Importance of Conflicts in EU Law

2015 ◽  
Vol 16 (6) ◽  
pp. 1343-1374 ◽  
Author(s):  
Giuseppe Martinico
Keyword(s):  
Constitutional Law ◽  
The Other ◽  
Preliminary Ruling ◽  
Eu Law ◽  
Constitutional Courts ◽  
Cautious Approach ◽  
Court Of Justice ◽  
The One ◽  
The Eu

Recently, scholars have argued of the necessity of going beyond “judicial dialogues” and “conflict-and-power” approaches to the analysis of the role of national Constitutional Courts in the Union. On the one hand, there are risks connected to a “too welcoming an approach by national constitutional courts to EU law”; on the other hand, it is possible to criticize both the Court of Justice of the EU (CJEU) and some national Constitutional Courts for other, less cooperative, decisions. I share this cautious approach for many reasons, and primarily because the preliminary ruling mechanism does not exhaust all the possible means of communication between constitutional courts and the CJEU. For instance, what Komárek calls “parallel references” can serve, in some circumstances, as a technique of alternative (or hidden) dialogue, that has favored a sort of “remote dialogue” over the years. My sole point of disagreement with this scholarly position is over the role of conflicts in this scenario. Whilst Komárek seems to confine conflicts to phenomena of mere resistance or to “‘cold’ strategic considerations,” in this work I am going to adopt a much broader idea of conflict, which goes beyond mere “conflicts and power games.”

scholarly journals Disproportional Ownership Devices: Reviewing the Last 25 Years of Research

2016 ◽  
Vol 11 (4) ◽  
pp. 22 ◽  
Author(s):  
Sara Saggese ◽  
Fabrizia Sarto
Keyword(s):  
Financial Markets ◽  
Policy Making ◽  
Civil Law ◽  
The Other ◽  
Main Research ◽  
The One ◽  
Lock In ◽  
Practical Implications ◽  
Scholarly Attention ◽  
Over Time

<p>The paper aims to systematize the literature on disproportional ownership devices by reviewing and classifying 148 articles published in international academic journals over the last 25 years. The findings show that the scholarly attention on disproportional ownership devices has grown over time. Most papers adopt the agency framework and examine the mechanisms for leveraging voting power and to lock-in control, especially in civil law countries. Corporate governance journals prevail as leading outlets, despite the lack of publications specialized on the topic. Finally, the literature systematization highlights a research taxonomy based on outcomes and drivers of disproportional ownership devices. The article has both theoretical and practical implications. First, it develops a literature framework that systematically outlines the main research streams on the topic and identifies under-explored issues so as to guide future scholarly efforts. Second, it highlights the implications of disproportional ownership devices for company outcomes and reporting. Thereby, on the one hand, it supports managers in selecting the appropriate combination of these mechanisms so as to attract and retain investors. On the other hand, it emphasizes the importance of proper policy making interventions to improve transparency, openness and competitiveness of financial markets.</p>

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