Criminal Stain on a White Collar: A Critical Analysis of Proposed Changes to Directors’ Liabilities

<p>The recent finance company collapses have highlighted the need for improved director accountability. However where is the appropriate point to draw the line, which if crossed, imposes criminal liability? The Financial Markets Conduct Bill and the Companies and Limited Partnerships Amendment Bill both attempt to redefine when criminal liability will attach to directors. By assessing the proposed changes in the light of two recent cases, it can be seen that under the proposed changes, directors have the potential to be found criminally liable for less than dishonest behaviour. This raises the issue of whether criminal liability is appropriate in regards to directors’ actions, or whether a civil liability scheme would be more appropriate. This paper looks at the current law and the proposed changes to directors’ liability, and by considering the situations of two failed finance companies, attempts to draw conclusions as to the effects of such changes.</p>

Criminal Stain on a White Collar: A Critical Analysis of Proposed Changes to Directors’ Liabilities

<p>The recent finance company collapses have highlighted the need for improved director accountability. However where is the appropriate point to draw the line, which if crossed, imposes criminal liability? The Financial Markets Conduct Bill and the Companies and Limited Partnerships Amendment Bill both attempt to redefine when criminal liability will attach to directors. By assessing the proposed changes in the light of two recent cases, it can be seen that under the proposed changes, directors have the potential to be found criminally liable for less than dishonest behaviour. This raises the issue of whether criminal liability is appropriate in regards to directors’ actions, or whether a civil liability scheme would be more appropriate. This paper looks at the current law and the proposed changes to directors’ liability, and by considering the situations of two failed finance companies, attempts to draw conclusions as to the effects of such changes.</p>

1. Formation, classification, and registration of companies

This chapter considers the mechanics of formation and registration as well as the various types of companies which may be formed. The focus is on registered companies, registered under the Companies Act 2006. The chapter considers the role of the registrar of companies and the public registry and the types of companies which can be registered. The key categories are companies limited by shares and limited by guarantee. Private and public companies limited by shares as well as corporate groups are all considered. The chapter also looks briefly at alternative vehicles for business, such as partnerships, limited partnerships and limited liability partnerships.

Partnerships between truth commissions and universities: Possibilities for developing an archival education in human rights in Brazil

As part of a doctoral research, eighty-eight local truth commissions created in Brazil between 2012 and 2018 were identified. Among them, it was selected the eleven final reports that described partnerships between truth commissions and universities. The paper analyzes the phenomenon of creation of local truth commissions in Brazil and the partnerships established between them and universities, especially, with Archival Science and History programs. It was found that the partnerships were established to make the work of truth commissions feasible and consisted of archival activities such as preservation, description, and scanning as well as research. It concludes that, although the educational engagement of Brazilian truth commissions has been limited, partnerships with universities have provided students the contact with the theme of human rights, in line with the callings for the profession to address activism and human rights within the context of archival education. Finally, the paper suggests that experiences developed by these partnerships could be incorporated into Archival Science programs in Brazil.

Jersey as an investment funds domicile: benefits and regulations

Purpose To explain the benefits and the regulations pertaining to Jersey as a domicile for investment funds. Design/methodology/approach Provides an overview of Jersey as an international financial center followed by a detailed description of Jersey regulations applying to private funds, expert funds, listed funds, regulated investor funds, retail and other collective investment funds (CIFs), and notification-only funds. Explains fund vehicles including unit trusts, limited partnerships, and companies. Discusses taxes and fund service providers. Findings Jersey is one of the world’s major international finance centers, offering location and time-zone benefits; stability and reliability; tax neutrality; a stable political, fiscal and regulatory infrastructure; and highly-skilled financial-service providers. Originality/value Expert guidance from experienced investment-funds lawyers

Master Limited Partnership Research in Accounting, Economics, and Finance

I review the research on master limited partnerships (“MLPs”) in the accounting, economics, and finance literature. I begin by outlining the scope of the review and providing a brief background on the structure, taxation, and governance of master limited partnerships. Next, I describe the various sources from which MLP data is derived. I then review the research, aggregating it into four broad categories: (1) taxes and organizational form; (2) taxes, capital structure, and payout policy; (3) valuation; and (4) governance research. Within each section, I present possible avenues for future research in accounting, economics, and finance.

ACTUALITY OF THE SIMPLE PARTNERSHIP AS A FORM OF CARRYING OUT JOINT ENTREPRENEURIAL ACTIVITY IN THE REPUBLIC OF UZBEKISTAN

This article carefully analyzes the actual problems related to attracting investment and optimal ways of carrying out entrepreneurial activity. Moreover, the article presents the ground of ineffectiveness of the legal basis of simple partnership as well as the comparative-legal analysis of limited partnerships according to thelegislation of the United Kingdom and the USA. Furthermore, this article contains proposals for reforming the legal status of a simple partnership based on the experience of the UK and the US in regulating limited partnerships

General And Limited Partnerships: Features Of Legal Regulation In Ukraine And European States

The article focuses on one of the corporate forms of entrepreneurial activity - general and limited partnerships. Limited liability companies and joint stock companies are among the most popular legal forms of companies. However, the development of Ukrainian legislation moves in the direction of creating a system of different forms of entrepreneurship, which are aimed at different needs and interests of their founders. Such forms of entrepreneurship exist and operate successfully in Europe. Carrying out a comparative analysis in the article allows the author to confirm the existing thesis that there is no single vector in European countries concerning the legal status of these partnerships. Some states define these partnerships as legal entities, others - as a form of joint business activity. It is emphasized in the article that the European legal space is characterized by the use of the concept of defective legal entity. The author perceives any of these European approaches, but points to the need for its consistent reflection in all legal acts that determine the status of general and limited partnerships. The article supports the assertion formed in the scientific literature about the criticism of domestic legislation on general and limited partnerships. Such criticism concerns to those norms of Ukrainian legislation, which use untypical provisions for legal entities. All existing researches are directed to one aim - to develop a single vector in the regulation of general and limited partnerships. They should be regulated either as legal entities or as forms of joint activity on the basis of an agreement. The author states that the main attention in granting general and limited partnerships the status of a legal entity should be focused on clear boundaries between the liability of a legal entity and the subsidiary liability of its members. The article supports leading scholars’ critical assessment of the legislative definition of general partnerships as an association of persons for joint business activities. Based on the analysis of the definitions of a general partnership in EU law (for example, France), it is proposed to define a general partnership as an association of persons engaged in business activities through joint contributions of all participants (full partners) and their subsidiary liability for the company’s obligations. This wording indicates that the partnership itself carries out business activities, and not its members. The author also does not deny the possibility of introducing general and limited partnerships as associations of persons on the basis of an agreement on joint activities. At the same time, it is noted that all norms of national legislation should consistently adhere to such concept.

Der stille Kommanditist in der Publikums-KG

The thesis examines the qualified trust in public limited partnerships with particular regards to general trust and association law. In doing so, the author comes to the conclusion that this legal figure actually conceals the historically not newly invented figure of the silent limited partner - the beneficiary becomes a genuine internal partner in the external association. Based on this, the practice-relevant areas of liability and claims for information about their identity are examined, whereby the author often arrives at innovative approaches. The work thus makes a valuable contribution to the treatment of qualified trusts in science and practice. The author worked as a research associate in capital market and investment law.