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European Business Law Review
Number of Followers: 17

Full-text available via subscription

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ISSN (Print) 0959-6941
Published by Kluwer Law International

[21 journals]

Index of Articles
- Abstract:
  Volume 31 Online ISSN 0959-6941
  PubDate: Wed, 23 Dec 2020 00:01:05 GMT
  Issue No: Vol. 31 (2020)
Product Governance: Paternalism Outsourced to Financial Institutions'
- Abstract: The MiFID II product governance regime requires financial institutions to identify a target market of investors for all products they design or offer to clients, and to sell those products, as a rule, within the target market only. Although the aim of the regime – reducing mis-selling – is commendable, it has been implemented in a less than perfect way. After briefly describing the MiFID II product governance rules, this contribution discusses four major shortcomings, which have a detrimental effect on investor protection and the level playing field between financial institutions. The author proposes small amendments, which not only deal with those shortcomings, but also alleviate the compliance burden for the sector and lessen the regime’s paternalistic edge.
  Volume 31 Online ISSN 0959-6941
  PubDate: Wed, 23 Dec 2020 00:01:05 GMT
  Issue No: Vol. 31 (2020)
Examining the Legal Hampers against Innovation in China
- Abstract: Innovation cannot be authentically achieved without the support of law. The existing research has demonstrated that venture capital is closely linked to innovation in society. Thus, a friendly legal environment for venture capital has the potential to enhance the innovative ability of a certain society. The current Chinese legal system has includes a series of hampers against the healthy development of venture capital. In order to promote innovation, Chinese authorities ought to take actions to remove these legal barriers.
  Volume 31 Online ISSN 0959-6941
  PubDate: Wed, 23 Dec 2020 00:01:05 GMT
  Issue No: Vol. 31 (2020)
The European Union Proposal for a Regulation on Cross-Border Crowdfunding
Services: A Solemn or Pie-Crust Promise'
- Abstract: In March 2018, the European Commission presented a Proposal for a Regulation on (financial return) crowdfunding service providers (CSPs) with a dual objective: to set up a single, EU-wide authorization regime for CSPs; and to ensure that duly authorized CSPs operate in a safe and sound manner. Over two years later, in July 2020, the Council of the European Union adopted its First Reading Position which reflects the compromise reached in negotiations with the European Parliament and brings about significant changes to the Commission Proposal. This study critically analyzes the objectives, economic rationales, and fundamental principles of the proposed EU Regulation on crowdfunding; highlights its weaknesses and inconsistencies; and offers proposals for refinement and improvement.
  Volume 31 Online ISSN 0959-6941
  PubDate: Wed, 23 Dec 2020 00:01:05 GMT
  Issue No: Vol. 31 (2020)
The ECB and the Application of National Law in the SSM: New Yet Old…
- Abstract: Art 4 (3) of the SSM Regulation allows, under certain conditions, the European Central Bank to directly apply national law in the exercise of its prerogatives. This article recaps the general framework of application of the SSM Regulation by looking in particular to the question of national law transposing relevant directives in the area and discusses the role of the ECB when interpreting and applying national law in the exercise of its prudential tasks and powers. Finally, it attempts to place the scope of application, the limitations and legislative instruments related to the application of national law by the ECB in a wider EU constitutional fram-ework.
  Volume 31 Online ISSN 0959-6941
  PubDate: Wed, 23 Dec 2020 00:01:05 GMT
  Issue No: Vol. 31 (2020)
The Centralisation of Prudential Supervision in the Euroarea: The
Emergence of a New ‘Conventional Wisdom’ and the Establishment of the
SSM
- Abstract: This article provides an account of how, after the Eurozone sovereign crisis, the centralisation of banking prudential supervision in the Euroarea became ‘conventional wisdom’. But it also contends that the transition to a new centralising conventional wisdom is still partial and incomplete. To this end, the article analyses the legal prudential obstacles still preventing the emergence of a truly single prudential jurisdiction, coincident with the single monetary jurisdiction. The article is divided into five sections. Section 1 briefly describes the “historical novelty” of a single currency area comprising many separate prudential supervisory jurisdictions and its “permanence” until the Eurozone sovereign crisis. Section 2 analyses the legal framework applicable to the new Single Supervisory Mechanism and the degrees of legal variance in the applicability of prudential requirements across participating Member States. Section 3 summarily analyses one specific aspect of this legal variance: “national powers”. Section 4 briefly deals with the exercise of Options and Discretions available in Union Law within the SSM. Section 5 concludes.
  Volume 31 Online ISSN 0959-6941
  PubDate: Wed, 23 Dec 2020 00:01:05 GMT
  Issue No: Vol. 31 (2020)

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