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Extending The Eu Financial Regulatory Framework To Aifm, Credi Derivatives, And Short Selling, Enrico Baffi, Dino Lattuca, Paolo Santella
Extending The Eu Financial Regulatory Framework To Aifm, Credi Derivatives, And Short Selling, Enrico Baffi, Dino Lattuca, Paolo Santella
enrico baffi
The European Commission followed the impulse from G20 for a coordinate response to the financial crisis by adopting a proposal for a Directive to mandate the clearing of suitable classes of OTC derivatives (the so-called EMIR proposal) and a proposal on alternative investment funds (AIFMD). However, the Commission further enlarged the regulatory perimeter by including in the AIFMD proposal also private equity funds and by adopting a proposal for Regulation on short selling. In particular, the EMIR proposal, currently (March 2011) under discussion at the Council and the European Parliament, follows closely the multilateral regulatory efforts by providing mandatory clearing …
Standard Contract Clauses As Public Goods: A New Way To Approach The Problem, Enrico Baffi
Standard Contract Clauses As Public Goods: A New Way To Approach The Problem, Enrico Baffi
enrico baffi
The aim of this work is to show how it is possible to identify market failures other than those traditionally identified by lawyers and law and economics scholars to justify the mandatory provisions of contracts between professionals and consumers and the equally mandatory provisions governing the abuse of economic dependency. This is a new approach that can be extended to other provisions and appears to rest on fairly solid microeconomic foundations. There is no doubt, however, that many criticisms can be leveled against it. Very briefly, I shall argue that the production of clauses characterized by being rather vague, indeterminate …