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Full-Text Articles in Law
International Banking Secrecy: Developments In Europe Prompt New Approaches, Richard J. Gagnon Jr.
International Banking Secrecy: Developments In Europe Prompt New Approaches, Richard J. Gagnon Jr.
Vanderbilt Journal of Transnational Law
The frequent connection between banking secrecy and various corrupt political and business practices has drawn considerable attention from non-secrecy states. In Europe, the issue presently is ripe because of the European Community's plans for a unified economy in 1992. This Note begins with a moral and historical examination of banking secrecy. Then, the author reveals the banking practices and legal structures through which banking secrecy is exploited. The author next sets forth the substantive banking secrecy laws of four European states and attempts to surmise the direction of their policies regarding banking secrecy. Next, the author describes past attempts, both …
The European Economic Interest Group (Eeig): A New European Business Entity, Daniel T. Murphy
The European Economic Interest Group (Eeig): A New European Business Entity, Daniel T. Murphy
Vanderbilt Journal of Transnational Law
This Article analyzes the European Communities Regulation establishing the European Economic Interest Group (EEIG), a commercial entity whose purpose is to facilitate the economic interests of its members. Dean Murphy emphasizes that the Regulation establishes the EEIG as a Community-wide legal entity but leaves regulation of many aspects of the EEIG's status and operation to the laws of the Member States. The Regulation institutionalizes and encourages cross-border business cooperation while allowing flexibility. Dean Murphy analyzes the Regulation's provisions for formation, operation, and termination of the EEIG. He concludes that the EEIG will likely prove to be a convenient and popular …
A New Look At The European Economic Community Directive On Insider Trading, Amy E. Stutz
A New Look At The European Economic Community Directive On Insider Trading, Amy E. Stutz
Vanderbilt Journal of Transnational Law
On 13 November 1989, the European Council passed a directive on the regulation of insider trading. This legislation is designed to coordinate the various laws of the European Economic Community states and to encourage investor confidence in their securities markets. In analyzing the directive, the author proposes the United States experience in the regulation of insider trading as a model for the efforts of the EEC. Considering both the strengths and weaknesses of the United States experience, the author describes the United States shift in emphasis from the regulation of individuals to the regulation of institutions. This shift reflects the …
The European Community's Second Banking Directive: Can Antiquated United States Legislation Keep Pace?, Christopher T. Toll
The European Community's Second Banking Directive: Can Antiquated United States Legislation Keep Pace?, Christopher T. Toll
Vanderbilt Journal of Transnational Law
The European Community recently adopted the Second Banking Directive, which will lead to liberalized banking regulation throughout the Member States. Community banks will engage in a broad range of activities including commercial lending, selling securities, and issuing insurance. This broad range of activities will allow Community banks to compete more efficiently in global markets. In contrast, the strict regulatory structure of the United States includes the Glass-Steagall Act, which separates investment banking and commercial banking. This separation creates inefficiencies that reduce the competitiveness of United States banks in both international and United States markets. These inefficiencies are highlighted by the …