Refine
Year of publication
Document Type
- Doctoral Thesis (39) (remove)
Has Fulltext
- yes (39)
Is part of the Bibliography
- no (39)
Keywords
- Deutschland (5)
- Strafrecht (2)
- AIFMD (1)
- Abmahnung (1)
- Afghanistan (1)
- Afrika (1)
- Algorithmen (1)
- Alternative (1)
- Anzeigenwerbung (1)
- Ausschuss (1)
Institute
- Rechtswissenschaft (39) (remove)
Ziel dieser Untersuchung ist es, die Legitimität der Kriminalisierung des Glücksspiels in Brasilien zu hinterfragen. Dies geschieht mit besonderem Augenmerk auf das spezifische brasilianische Glücksspiel, das „Spiel der Tiere“ (Jogo do bicho), das Ende des 19. Jahrhunderts in der Stadt Rio de Janeiro, der Hauptstadt des damaligen kaiserlichen Brasiliens, entstand. Es handelt sich um eine Form des Glücksspiels, die sich in ganz Brasilien verbreitet hat und bereits Gegenstand mehrerer akademischer Studien in den Bereichen Anthropologie und Soziologie war. Das Verbot dieser Art von Glücksspiel, seine Kriminalisierung, seine große Beliebtheit und seine gesellschaftliche Toleranz sind jedoch Gründe dafür, dass das Spiel der Tiere im Besonderen und das Glücksspiel im Allgemeinen auch im juristischen Bereich, insbesondere im Strafrecht, ein bisher vernachlässigter Forschungsgegenstand von großem Interesse ist.
Das Hauptaugenmerk dieser Arbeit liegt auf der Analyse der Kriminalisierung des Glücksspiels, das in Brasilien seit über einem Jahrhundert unter freiem Himmel praktiziert wird. Bei dieser Analyse werden die Gründe für die Kriminalisierung und die Legitimität des Verbots in Frage gestellt. Zu diesem Zweck ist der Text, abgesehen von der Einleitung und der Schlussfolgerung, in sechs Kapitel unterteilt.
Kapitel 1 beschreibt die Geschichte des brasilianischen Tierspiels, die Ursprünge seines Verbots und seiner Kriminalisierung. In Kapitel 2 wird über die Wirklichkeit der Strafverfolgung in diesem „Kriminalitätsbereich“ berichtet. Kapitel 3 stellt den ent-sprechenden Straftatbestand des brasilianischen „Código Penal“ im Kontext der Systematik des brasilianischen Strafgesetzbuches vor. Kapitel 4 widmet sich zunächst den verfassungsrechtlichen Grenzen der Kriminalisierung, und danach einem Überblick über das deutsche Glücksspielverbot und die Glücksspielregulierung. Ergänzt wird diese Suche in Kapitel 5, in dem die Forschung das strafrechtliche Glücksspielverbot in den Kontext der Debatte über die Abgrenzung zwischen und den Zusammenhang von Recht und Moral. Im abschließenden Kapitel 6 wird das (strafrechtlich sanktionierte) Glücksspielverbot mit den klassischen Legitimations-anforderungen konfrontiert.
Was in der strafrechtlichen Literatur der ersten Hälfte des 20. Jahrhunderts zur Rechtfertigung des Verbots zu lesen ist, deutet auf einen großen Einfluss moralischer Argumente hin. Diese Argumente haben bis heute an Gewicht nicht verloren, auch wenn die Befürworter der Beibehaltung der Kriminalisierung versuchen, ihre letztlich moralistische Ideologie gegen das Glücksspiel mit Argumenten wie der Begleitkriminalität des Glückspiels zu verschleiern, die eher eine Folge als eine Ursache der Kriminalisierung ist.
Die vorliegende Dissertation bietet eine eingehende Analyse der Entstehung und Evolution der rechtlichen Rahmenbedingungen der Arbeitnehmerüberlassung in der Volksrepublik China. Ursprünglich in den 1980er Jahren als Instrument zur Reduzierung der Arbeitslosigkeit eingeführt, hat sich die Funktion der Arbeitnehmerüberlassung im Laufe der Zeit gewandelt. Diese Entwicklung wird in der Arbeit sorgfältig nachgezeichnet.
Die Studie skizziert die legislative Entwicklung von der anfänglichen Konzeption bis zur formellen Legalisierung im Jahr 2007 und untersucht die geltenden gesetzlichen Bestimmungen zur Arbeitnehmerüberlassung. Dabei werden die spezifischen Aspekte der chinesischen Gesetzgebung herausgestellt, bei der die Arbeitnehmerüberlassung vornehmlich als komplementäre Beschäftigungsform angesehen wird. Die Arbeit beleuchtet die Rechte und Pflichten aller Akteure. Obwohl nicht umfassend rechtsvergleichend angelegt, wird doch immer wieder ein Blick auf die Rechtslage in Deutschland geworfen, sodass die unterschiedlichen regulatorischen Ansätze deutlich hervortreten. Zugleich werden die besonderen Herausforderungen behandelt, denen diese Beschäftigungsform im chinesischen Kontext begegnet.
Zentrales Forschungsanliegen der vorliegenden Abhandlung ist die Erörterung der Probleme, welche sich für die Corporate Governance einer Aktiengesellschaft ergeben, wenn abweichend vom gesetzlichen Optimalbild eine Divergenz zwischen dem Stimmrecht des Aktionärs und dessen wirtschaftlicher Betroffenheit vorliegt. Der von seinen Entscheidungen nicht proportional betroffene Aktionär soll als Corporate Governance Akteur in den Blick genommen werden.
Wieso aber lohnt sich eine erneute Befassung mit einem Problem, welches Easterbrook und Fischel bereits 1983 als ein solches identifiziert haben? Zum einen ist die internationale und deutsche Corporate Governance Debatte erheblich vorangeschritten. Steckte diese zum Zeitpunkt des Aufsatzes „Voting in Corporate Law“ noch in den Kinderschuhen, hat sie sich heute zu einem eigenen Forschungsfeld entwickelt, welches Juristen und Ökonomen in aller Welt beschäftigt. Der nicht proportional betroffene Aktionär wird in das durch diese Forschungsströmung entwickelte moderne Corporate Governance System eingeordnet. Zum anderen sind vor allem durch die Entwicklung vielfältiger Finanzderivate im Rahmen der sogenannten „derivatives revolution“ die Möglichkeiten durch schuldrechtliche Vereinbarungen eine entsprechende Disproportionalität zu erzeugen erheblich gestiegen. Während Easterbrook und Fischel noch feststellten „[…] it is not possible to seperate the voting right from the equity interest“, gestatten moderne Finanzprodukte es Aktionären, ihre wirtschaftliche Betroffenheit und zugleich deren Verhältnis zu ihrer Stimmrechtsmacht fast beliebig auszugestalten.
Die Zusammenschau aus einer erheblich diffizileren Corporate Governance Debatte in Verbindung mit einer neuen Vielzahl an Möglichkeiten eine Disproportionalität zwischen Stimmrecht und wirtschaftlicher Betroffenheit zu erzeugen, gibt der Thematik die notwendige Aktualität, die eine vertiefte Befassung anzeigt.
In Abgrenzung zu den bislang in diesem Themenkreis erschienenen Arbeiten, welche sich vor allem isoliert mit den Folgen für das Stimmrecht bzw. den einzelnen Anteilseigner befassen, thematisiert die vorliegende Abhandlung vor allem die Auswirkungen, welche die Trennung von Stimmrecht und wirtschaftlicher Betroffenheit für die Corporate Governance Struktur der Aktiengesellschaft nach sich ziehen kann. Auf diese Weise wird die Problematik der Ausübung disproportionaler Stimmrechte in die Erkenntnisse der Corporate Governance Theorie eingeordnet und insbesondere auch die ökonomischen Folgen selbiger herausgearbeitet. Die so gewonnenen Ergebnisse verdeutlichen den gesetzgeberischen Handlungsbedarf.
Prevenzione e repressione nel contrasto al riciclaggio : un’indagine comparata tra Italia e Germania
(2023)
The doctoral thesis provides a comparative study of the Italian and the German crime of money laundering. Although the topic of the essay is double, its final purpose concerns solely the Italian criminal provision (article 648-bis of the Italian Criminal code, art. 648-bis c.p.) in the attempt to thoroughly investigate its offensiveness, underlying legal interest and legitimation as well as to propose a restrictive interpretation.
The first chapter defines the research topic and the comparative methodology which shall be used throughout the thesis. The comparison is hereby intended as a tool to not only describe, but also contextualize the German legislation and create a “dialogue” with the italian criminal provision. Also, the first chapter lays down the three fundamental questions upon whom the analysis will be built (“from where?”, “what?” and “who?”) and offers a conceptual framework of the crime of money laundering by enlightening the existing liaison between this criminal offence and the paradigm of crime-prevention; European and supranational law; and the activities of prosecution and intelligence.
The second chapter delves into the question “from where?”, that is, the question of the role and the meaning of the predicate offence in money laundering’s prevention as well as repression. Therefore, the topic of the predicate crime is examined both from the angle of the anti-money laundering obligations for private actors and from the strictly penal angle. The question of the contribution of the predicate offence to money laundering’s offensiveness is specifically investigated with regard to both supranational and national law (including the most recent reforms that took place in Italy and Germany).
The third chapter is dedicated to the question of “what” is money laundering. This topic is first of all addressed from a pre-normative point of view. To this end, the chapter begins with a survey of relevant criminological theories that have been developed in order to explain, on an empirical basis, the phenomenon of money laundering and its effects on economy and society. The chapter then moves on to the criminal law provisions by examining the shape and current interpretation of the national crimes of money laundering and interrogating their suitability in the light of the criminological suggestions.
With a view to drawing some conclusions on the Italian crime of money laundering, the fourth and last chapter explores the question of “who” launders, meaning the possibility for the author of the predicate offence to be punished as self-launderer. In this context, self-laundering is examined as a form of both rationalization and extremization of the crime of money laundering. Lastly, the doctoral thesis summarizes its findings and proposes a restrictive interpretation of art. 648-bis c.p.
This research attempts to provide for an overview of the state of co-operation between the United Nations and regional organizations like the CoE, OSCE, EU and NATO during the last Yugoslav wars, considering the 1991-2008 period. In this case, the "reconstruction" of what the organisations did in each of the countries involved in the conflicts, the country-by-country approach used in writing the research and the consideration of both headquarters and field level should facilitate the understanding of the state of things at that time. The research further includes an analysis of the co-operative trends developed by the considered international organisations since the beginning of the 1990s and is concluded by a reflection on the normative relevance of the issue of "international cooperation". In this case, the intention of the author was to go beyond the general policy level approach used for the description of UN-regional organizations interaction and propose a re-consideration of the concept of "international co-operation" as a possible normative tool in guiding the so far nebulous division of tasks of international actors in conflict-related scenarios. In this case, the concise description of the general framework for co-operation under Chapter VIII of the UN Charter, already matter of wide debate by academics and practitioners, sets the frame for a more elaborate, and hopefully innovative, consideration of the notion of "international cooperation". This, of course, is to be contextualized to the lessons learned extrapolated from the case study.
Die digitale Revolution stellt viele traditionelle Industrien vor große Herausforderungen. Auf dem Finanzmarkt werden innovative Geschäftsmodelle geschaffen, die die Rahmenbedingungen, unter denen Finanzprodukte und -dienste angeboten werden, drastisch verändern. Infolgedessen entstehen rechtliche Unsicherheiten sowohl für die Marktakteure als auch für die Aufsicht. Diese Unsicherheiten weisen auf die Notwendigkeit hin, den Rechtsrahmen an die technologische und ökonomische Entwicklung anzupassen. Im Rahmen dieser Dissertation werden die Herausforderungen für das Aufsichts- und Wettbewerbsrecht untersucht, die die digitale Transformation des Finanzmarktes verursacht. Der Finanzmarkt wird vor allem durch die Entstehung von FinTechs, durch das Eintreten von BigTechs in den Finanzbereich und durch die Veränderung der Produkte und Dienstleistungen traditioneller Anbieter auf der Grundlage moderner Technologien transformiert. Die Arbeit gibt einen Überblick über die zentralen innovativen Geschäftsmodelle, der mit den zahlreichen praxisrelevanten Beispielen begleitet wird. Anschließend folgt eine Beurteilung des Umfanges und der Effizienz der vorhandenen und vorgeschlagenen aufsichtsrechtlichen Vorschriften. Diese Erkenntnisse dienen als Grundlage für die wettbewerbsrechtliche Analyse des Finanzmarktes mit dem Fokus auf die plattform- und algorithmenbasierten Geschäftsmodelle im zweiten Teil der Dissertation. Da werden wettbewerbsrechtliche Konstellationen betrachtet, die zwischen konkurrierenden innovativen Geschäftsmodellen entstehen. Die Verfasserin befasst sich mit der Problematik der Definition des relevanten Marktes bei den algorithmen- und plattformbasierten Geschäftsmodellen, der Beurteilung ihrer Marktmacht, den möglichen Auswirkungen der Netzwerkeffekte auf die mehrseitigen Plattformen. Ferner werden solche Aspekte wie Datenzugriff als wettbewerbsrechtlicher Faktor und die Rolle der Algorithmen für die Durchführung wettbewerbswidrigen Praktiken analysiert. Infolgedessen wird ein Überblick über mögliche kartellrechtliche Probleme gegeben, die im Rahmen der Digitalisierung im Finanzmarkt auftreten können, sowie die Vorstellungen darüber, wie sich Wettbewerbsfaktoren verändern sollten, wenn die Anwendung der traditionellen Konzepte des Wettbewerbsrechts nicht immer möglich oder sinnvoll ist. Es werden die Bereiche identifiziert, in denen das europäische und deutsche Wettbewerbsrecht derzeit nicht in der Lage ist, die von den innovativen Geschäftsmodellen stammenden Herausforderungen effektiv zu bewältigen. Im dritten Teil der Dissertation wird erörtert, wie sich das Aufsichts- und das Wettbewerbsrecht ergänzen und zusammen ein System der Ex-ante- und Ex-post-Regulierung bilden. Es wird dargestellt, wie die aufsichtsrechtlichen Anforderungen an die Finanzinstitute, FinTechs und BigTechs mit den ausgewählten Wettbewerbsergebnissen im Finanzsektor zusammenhängen. Darüber hinaus erklärt die Verfasserin, inwiefern einige aufsichtsrechtliche Vorschriften wettbewerbsnachteilig oder wettbewerbsfreundlich auswirken können und warum die Koordination zwischen den aufsichts- und wettbewerbsrechtlichen Instrumenten und Ansätzen essenziell ist. Schließlich werden die Vor- und Nachteile unterschiedlicher Optionen zur Regulierung innovativer Geschäftsmodelle auf dem Finanzmarkt auf einer abstrakteren Ebene erwogen.
The expansion of actors and instruments in sovereign debt markets through bond financing generated a coordination problem among bondholders during the debt restructuring process. There is a risk that an individual bondholder will be passive or act against the restructuring slowing down or even precluding the process of restructuring even though it is in the general interest of bondholders as a group, not to mention the population of the country experiencing the shortage of funds for public welfare. In particular, the disruptions to sovereign debt restructuring by frivolous litigation is considered as one of the main threats.
This dissertation is the first major study devoted to sovereign bonds structured through a trust arrangement and the promising features that such a legal structure possesses for an effective and efficient sovereign debt restructuring. It provides a comprehensive inquiry into the evolution of the mechanisms to coordinate creditors, with a focus on bondholders and institutional frameworks which facilitated this coordination. It examines intriguing primary sources from League of Nations archives and provides in-depth case studies on the functionality of the trustees in sovereign bond restructurings performed by Argentina in 2016 and Ecuador in 2008.
Assessing the utility of trust arrangements to address coordination problems, this thesis is driven by the puzzle: How to better balance (i) the need for smooth sovereign debt restructurings, which by definition entails some losses for creditors, with (ii) bondholders’ legitimate interests? What approach can be used in constructing a legal and institutional framework for trustees to promote the best interest of the bondholders in sovereign debt restructuring? As a solution, it seems that incentives for bond trustees to pursue debt sustainability will achieve both goals.
In this regard, recognition of the concept of debt sustainability, being in substance the IMF and WB debt sustainability assessment, as the best interest of bondholders in sovereign debt restructuring is beneficial from multiple aspects. It enables a bond trustee to excel in its role as a guardian of bondholders by following the best interest of bondholders in exercising its discretion. Moreover, it fosters an equilibrium between the interests of private creditors and a state taking into account its socio-political aspects.
The dissertation explores to what extent the post-financial crisis EU resolution regime, based on equity/debt write-down and conversion powers and bail-in tools will be effective in maintaining the stability of bank groups. To arrive at its unique angle, it first asks why bank groups are considered complex, thereby explaining the reasons for their proliferation and instability, and how this may inform the view regarding a desired regulatory framework. The main observation the dissertation makes is that, notwithstanding of other factors already pointed out in the literature, bank groups adopt complex structures with multiple entities, as it allows them, inter alia, to use double-leverage financing structures and internal capital markets.
Double-leverage financing structures allow bank groups to optimise the combination of their debt/equity funding from external parent entity investors with a combination of debt/equity funding downstreamed internally to subsidiaries and other entities in the bank group. An important component within this structure is also that the allocation of the bank group’s resources takes place through the internal capital market (ICM). The allocation of resources via the ICM allows bank groups to manage their liquidity constraint either to undertake activities that are more profitable, or to stabilise the financial position of the group as a whole.
While both double leverage and ICMs can optimise the funding and allocation of resources of the bank group, respectively, they can also generate perils to the stability of the bank group. In particular, this is because double-leverage can result in excessive risk taking and regulatory arbitrage. Moreover, the allocation of the intra-group resources in the ICM may not maintain the financial health of all subsidiaries in the bank group, which can prove to be incompatible with the financial stability goals of the regulators in the countries where those subsidiaries conduct their business.
Within this context, the dissertation argues that the current EU resolution regime does not clearly address issues of double leverage when setting out capital and other liability requirements, i.e. the ‘Total Loss Absorbing Capacity’ (TLAC) and ‘Minimum Requirement for Eligible Liabilities’ (MREL) requirements. Moreover, the dissertation emphasis that it is equally relevant to clarify the way in which the bank group resources are available ahead of, and in financial distress. It is argued that to this end, bank groups need to be allowed to make use of the ICM as it is often uncertain what may be the cause of the financial distress and how the resources of the bank group could be used to stabilise it. To this end, the dissertation highlights that there is lack of clarity in both the ex-ante provisions on intra-group support framework and in the ex-post provisions governing the allocation of any surplus TLAC/MREL resources.
Besides the ‘intra-group’ issues within the bank group, the third point the dissertation makes relation to the bank group’s presence in multiple jurisdictions. This transnational element adds to the complexity of the intra-group issues resulting from sub-optimal cooperation between home and host authorities. In this regard, the dissertation underlines that the current framework could adopt a more balanced way in which the regulatory fora will take into account the interest of the authorities of all parts of the bank group.
Both China and the EU have nearly 30 years of legislative experience on GMOs. However, despite all the experience gained so far and theoretical analyses, due to the social concerns about GMO risk, both China and Germany are still encountering a decision-making dilemma on authorizing green GMOs. Therefore, the dissertation is dedicated to the issue of whether there is a possibility that this dilemma could be resolved by improving or reformulating the administrative risk decision-making mechanism regarding green GMOs. Specifically, the dissertation analyses four concrete questions: operation of classical decision-making on danger prevention, the challenges posed by uncertain risks, the theoretical legal response to uncertain risk, and the functioning of legally constituted decision-making mechanisms for GMOs in Germany/ the EU and China.
Conventionally, danger is a threshold for the executive to intervene in individual liberty. It can ensure the rationality of ex-ante intervention and further guarantee a balance between individual liberty and public safety. Regarding the danger prevention decision-making process, the executive authorities investigate the factual information at first; then, based on reliable and accessible common knowledge about the rule of causality, predict the degree of possible damage and the occurrence probability; at last, make ex-ante intervention decisions to interrupt the causality chain and avoid damages.
In the risk society, uncertain risk of GMOs is characterized as collectively wide-ranging, manufactured, high-technological, and value-oriented. The ex-ante intervention of the administration extends from danger to uncertain risk, i.e., risk precaution. The essential cause of uncertain risk is that humans do not have sufficient knowledge and have not yet grasped the rule of causality regarding new technologies. Due to the lack of a cognitive reference standard, it is not easy for the administration to judge the existence of risks and make rational decisions on risk precaution, which, consequently, amounts to losing the balance between individual freedom and public safety. Besides, if the authority makes a decision ad arbitrium, and expects learning by error, this may cause significant secondary risks.
In the risk management system, there are two primary, partly interrelated strategies to manage risk that are currently used: that is, knowledge generation and proceduralization. Specifically, to de-materialize the legislation, integrate multipartite participation in the decision-making process, and open the procedure for updating the information can contribute to the generation of the requisite knowledge. Proceduralization can assist with knowledge generation, promote the reconciliation of conflicting interests, compensate for material and legal deficits, and control the legitimacy of administrative behavior.
In the final chapter, the laws on GMOs in the EU, Germany, and China are analysed, especially under the perspective of the concrete risk decision-making mechanisms.
Overall, this dissertation argues that law can procedurally guarantee the independence and reliability of experts and ensure that access to public participation is open. But what the law can do to address public trust and scientifically uncertain risks, is limited.
Private equity has grown remarkably in the last 30 years. Given its rise to prominence, exceptional profitability and a more prolific and publicly visible buyout activity, regulation in the private equity space seemed inevitable. The 2007 global financial crisis furnished an opportunity to doubt the industry’s role and magnify the key concerns, providing momentum for calls to regulate the industry more aggressively. Ultimately, the regulatory change came from the Alternative Investment Fund Managers Directive (AIFMD), which has been described as one of the most rigorously debated and controversial pieces of financial regulation to ever emerge from the European Union (EU).
The AIFMD is unique and unprecedented, yet there has been very little written about it in the context of private equity. Therefore, this thesis makes a contribution to this area of research by examining the implications of AIFMD for private equity and arguing that this EU Directive has a re-shaping effect on the industry that inevitably marks the end of the light-touch regulation in this area. Whilst the desire of policymakers to act and intervene decisively during market
downturns is understandable, there is a risk that the response may not be appropriate and result in a crisis-induced over-reaction.
This thesis demonstrates, amongst other things, that the AIFMD has created a particularly
complex regulatory regime which for the hitherto unregulated or lightly regulated fund managers has had a significant effect in the EU and beyond. Examples of the most impactful
provisions relate to authorisation, marketing, depositaries, acquisition of control, remuneration, and transparency and disclosure. The implication are wide-ranging, and there is a clear conflict between the opportunities (e.g. EU passport, AIFMD as a global brand) and threats (e.g. excessive compliance costs, exodus of fund managers from the EU), which depend on a firm’s size, domicile and the gap needed to be aligned between the pre- and post-AIFMD regime.
Although there will be no stark triumph of one position over another in the assessment of the AIFMD until all of its elements are fully implemented, overall the impact of the Directive has been material, requiring substantial work to comply with (or adapt to) the requirements, which in some cases are not only particularly onerous and costly, but also a bit misguided, discouraging, or fairly irrelevant.
Se il legislatore volesse incriminare nuove condotte o aggravare il trattamento sanzionatorio previsto per tipologie di condotte già penalmente rilevanti, lo potrebbe fare solo con efficacia per il futuro.
Il divieto costituzionale di retroattività impedisce, da un lato, che un comportamento penalmente irrilevante possa essere soggetto a sanzione penale dopo la sua commissione e, dall’altro lato, che una condotta già penalmente rilevante possa essere oggetto di un incremento del trattamento sanzionatorio rispetto a quello previsto al momento del fatto.
Qualora un comportamento penalmente irrilevante al momento della sua commissione diventi, al contrario, penalmente rilevante a seguito del verificarsi di un cambio di interpretazione giurisprudenziale oppure finisca per essere sanzionato (in astratto) con pene più sfavorevoli, quali garanzie sono riconosciute al cittadino?
La Corte costituzionale nel 1988 aveva dichiarato la parziale illegittimità costituzionale della disciplina dell’ignorantia legis, consacrando il principio secondo cui l’ignoranza inevitabile della legge penale scusa il soggetto. Principio che però non ha impedito in tutti questi anni alla giurisprudenza (di legittimità, anche nella sua massima istanza) di riconoscere ai mutamenti giurisprudenziali sfavorevoli efficacia retroattiva, quindi rispetto a fatti già verificatisi.
Più recentemente si è diffusa, su impulso della Corte di Strasburgo, l’idea secondo cui i mutamenti giurisprudenziali peggiorativi non possono retroagire solo laddove imprevedibili.
Secondo l’opinione tuttora maggioritaria, il divieto di retroattività non potrebbe o non dovrebbe svolgere alcun ruolo di garanzia in questi casi in quanto il riconoscimento del medesimo divieto anche rispetto ai mutamenti giurisprudenziali in malam partem determinerebbe l’equiparazione del “diritto giurisprudenziale” alla legge sul piano delle fonti del diritto penale, equiparazione evidentemente insostenibile sulla base del nostro modello costituzionale di separazione dei poteri. È davvero così?
Il lavoro affronta, in prospettiva anche europea e comparata, il tema delle garanzie costituzionali riconosciute al singolo cittadino a fronte del verificarsi di un mutamento giurisprudenziale (soprattutto in seno alle Sezioni unite) produttivo di conseguenze sfavorevoli.
Die Arbeit untersucht die Ad-hoc-Publizität unter der Geltung der MAR. In der Arbeit werden zuerst das Informationsmodell auf dem Kapitalmarkt und die Erforderlichkeit und Notwendigkeit der Regulierung des Kapitalmarkts durch gesetzliche Informationspflichten analysiert. Mithilfe eines Rückblicks auf die Entwicklung der Ad-hoc-Publizität in den Rechtsnormen wird ihr Sinn und Zweck untersucht. Die rechtlichen Anforderungen an Ad-hoc-Publizität unter der Geltung der MAR werden in einem weiteren Schritt untersucht. Der Schwerpunkt liegt dabei auf den Tatbestandsmerkmalen der Ad-hoc-Publizitätspflicht und dem Aufschub der Veröffentlichung. Darüber hinaus werden die Rechtsfolgen im Falle von Pflichtverstößen, insbesondere Anspruchsgrundlagen nach §§ 97, 98 WpHG analysiert. Im Hinblick auf die Ad-hoc-Publizität nach dem chinesischen Recht werden ihre historische Entwicklung in Rechtsnormen und ihr Sinn und Zweck untersucht. Eine dogmatische Analyse der Ad-hoc-Publizitätspflicht und der Rechtsfolgen beim Pflichtverstoß nach dem geltenden chinesischen Recht wird dann durchgeführt. Schließlich wird die Ad-hoc-Publizität nach der MAR und dem chinesischen Recht verglichen.
Im rechtsvergleichenden Teil der Untersuchung identifiziert der Verfasser bestimmte Besonderheiten und Defizite im chinesischen Recht. Den Regelungsansätzen der beiden Rechtssysteme liegen unterschiedliche rechtpolitische Zielsetzungen zugrunde. In der EU und in Deutschland steht der Konnex zum Insiderhandel im Vordergrund, denn diesem wird durch die Ad-Hoc Meldung der Boden entzogen. In China handelt es sich bei der Ad-hoc-Publizität konzeptionell eher um einen Annex zur Regelpublizität. Damit geht Hand in Hand, dass die Verfolgung zivilrechtlicher Ansprüche aufgrund falscher Ad-hoc-Meldungen in China der behördlichen Genehmigung bedarf. Der Verfasser macht auf dieser Grundlage Vorschläge zur (behutsamen) Rechtsfortbildung in China nach europäischem Vorbild.
Der technische Fortschritt ermöglicht die Auswertung großer Datenmengen mittels Algorithmen zur Feststellung bislang unbekannter Korrelationen. Schlagwortartig werden solche Analysen unter dem Begriff Big Data zusammengefasst. Häufig sind personenbezogene Daten Gegenstand von Big-Data-Anwendungen, sei es als Grundlage oder Ergebnis einer Auswertung. In diesen Fällen ist das Datenschutzrecht zu beachten.
Der Zweckbindungsgrundsatz fordert die Angabe eines Verarbeitungszwecks bereits bei Erhebung der Daten und eine Bindung des weiteren Datenumgangs an diesen Zweck. Damit besteht ein Spannungsverhältnis zu Big-Data-Anwendungen, die zu Verarbeitungsbeginn den Zweck allenfalls unspezifisch anzugeben vermögen. Auf Grundlage des alten Bundesdatenschutzgesetzes mit einzelnen Ausblicken auf die Datenschutzgrundverordnung untersucht die Arbeit die datenschutzrechtlichen Anforderungen an die Zweckfestlegung und welche Bindungen aus ihr folgen. Zudem nimmt der Autor mögliche Lösungen des Konflikts zwischen Big-Data-Anwendungen und dem Zweckbindungsgrundsatz in den Blick.
Die vorliegende Arbeit behandelt einen Rechtsvergleich zwischen dem Neutralitätsgebot in der Bundesrepublik Deutschland und die Laizität in der Türkei aus der Perspektive des Religionsverwaltungsrechts im Referenzgebiet Medienrecht. Der Schwerpunkt liegt in der Darstellung des Türkischen Rechts.
Zu Beginn werden die beiden Begriffe des Neutralitätsgebots und der Laizität als Analyseinstrumente näher erörtert. Insbesondere erfolgt eine historische Begriffsgenese der Laizität im türkischen Rechtssystem in Bezug auf die Verfassungen der Türkei von Kanun-i Esasi 1876 bis hin zur aktuellen Verfassung von 1982. Darüber hinaus wird sowohl in der Rechtsprechung als auch in der Literatur erforscht, welchen Wandel der Laizitätsbegriff seit seiner Aufnahme in die Verfassung erfahren hat.
Es wird festgestellt, dass beide Begriffe einer Begriffskategorie angehören, wobei sie sich überwiegend durch ihre Intensität bei der Trennung vom Sakralem und Säkularem gerade hinsichtlich Kooperationen derselben und der vorherrschenden Koexistenz unterscheiden.
Zusätzlich wird auf die Funktion und die Auswirkungen des Diyanet sowohl auf den Laizitätsbegriff selbst als auch auf das Medienrecht eingegangen.
Im Folgenden wird das Medienrecht in beiden Ländern aus der Perspektive der öffentlichen Medien, insbesondere der Rundfunkanstalten untersucht. Hierbei werden in der Bundesrepublik Deutschland alle öffentlich-rechtlichen Rundfunkanstalten, ihre Organisationsstruktur und Regelungen zur Vertretung der Religionsgemeinschaften behandelt, die gängigen Regelungen diesbezüglich ausführlich erörtert und aktuelle Unterschiede derselben bei der Vertretung der Religionsgemeinschaften im jeweiligen Rundfunkrat mitunter auch tabellarisch aufgezeigt. Durch die Behandlung der Vertretungsregelungen werden Mängel aufgewiesen. Diese ergeben sich beispielsweise in Hessen bei der Auswahl der vertretungsberechtigten Organisationen, da bei den parlamentarischen Überlegungen hierzu möglicherweise nicht hinreichend sachdienliche Gutachten herangezogen wurden. Eine andere Quelle für Fehler wird in der Anwendung von bestimmten Rechtsbegriffen als Parameter für die Eignung der Religionsgemeinschaften zur Vertretung gesehen, die ihrerseits auf christliche Religionsgemeinschaften zugeschnitten sind, jedoch gerade die innerhalb der Bevölkerung am stärksten vertretene Minderheitengruppe, nämlich die Muslime, mangels Körperschaftsstatus, außen vor lässt. Letztendlich werden auch gerade für die Bundesrepublik Deutschland Lösungsansätze herausgearbeitet.
Im türkischen Recht erfolgt eine ebensolche Darstellung, wobei als Besonderheit auch der TMSF als Einlagensicherungsfonds, sowie die These behandelt werden, dass durch die Eingriffe des TMSF öffentlich-rechtliche Printmedien vorhanden seien. Speziell werden die Entstehung und Entwicklung des Medienrechts, der Aufbau und die Kompetenzen der öffentlich-rechtlichen Medien und die Eingriffe auf diese dargestellt.
In der Türkei werden bereits in der verwaltungsrechtlichen Normierung der Kompetenzen einzelner Institutionen und erst Recht in der verwaltungsrechtlichen Praxis gravierende Mängel festgestellt.
The purpose of this thesis is to examine the passage regime of the Turkish Straits against the background of the evolution of international law, and to discuss the problems of the passage of warships through them in light of the invasion of the Crimean Peninsula by Russia in 2014. With that objective in mind, the thesis reconsiders the history of the straits regime.
The Turkish Straits are regulated by the Montreux Convention of 1936 which contains restrictive and complex provisions regarding the passage of warships. The Straits took their place as “the Straits question” for centuries and today their importance is enhanced by their geostrategic location in the international arena. They have gained greater significance especially since the resolution of Soviet Russia in 1991, as they have become one of the most important and busiest energy corridors of the world. Due to the increase in the transportation of oil, natural gas and other products from the Caspian region through the Straits, the dense traffic and the regulation of the traffic in the Straits has become a key issue between Turkey and user states. Furthermore, the implementation of restrictive provisions for warships caused many debates during the Second World War, the impact of the restrictive provisions of the Convention on the South Ossetia War in August 2008, and the invasion of the Crimean Peninsula in 2014 attracted additional international attention. The Straits took their place on the global agenda of the great powers, especially those of NATO, the United States (US) and Russia. These events have resulted in ongoing and intensive discussions over the revision of the Convention.
Although no legal amendment or modification demand to the Montreux Convention has yet arisen, the new order and geopolitical interests in the Black Sea region show that the Montreux passage regime will continue to be debated by the world’s powers under any given political circumstances. For the time being, however, there will be no alternative route with a view at an adaptation to contemporary needs but methods of treaty modification below the threshold of formal revision as, most importantly, the integration of subsequent practice and subsequent agreement into treaty interpretation.
The Dodd Frank Act of 2010 (DFA) was the legislative response by the US Government to the Global Financial Crisis of 2007. DFA’s rescission of Rule 436 (g) of the Securities Act of 1933 - the exemption from liability clause - was the response to the post-crisis perception that credit rating agencies were insufficiently constrained by reputational risk considerations and consistently failed to provide high quality and accurate credit ratings as a consequence of the immunity they enjoyed and the regulatory reliance placed on ratings, as well as the conflicts of interest that they faced. This paper investigates whether the market failure event that occurred in the Asset Backed Securities market immediately after DFA was signed into law on July 21, 2010 was due to real economic concerns held by rating agencies about operating under a liability regime or whether it was merely an act of brinkmanship on the part of the rating agencies. The paper also predominantly examines US case law to identify the dilution of the freedom of speech defence in state courts, the conflict of interest issues and the legal challenges faced by plaintiffs when bringing a lawsuit against credit rating agencies, and proposes a novel co-pay and capped liability model to address the concerns of both credit rating agencies and investors.
A sound and well-functioning legal system will encourage growth in investment and create opportunities for investors. Trademarks as part of intellectual property play an important role in the future development of a country. A mark or symbol is needed in order to give products and services identity and to distinguish them and their qualities from identical or similar products and services of a competitor.
This research studies, examines and analyses the degree, nature and function of trademark protection within the legal system of Afghanistan and compare them with the Paris, Madrid and TRIPs agreements. It has been divided into four chapters: Chapter one provides general information and an overview of the current legal system of Afghanistan. Chapter two studies and analyses international agreements pertaining to the legal protection of trademark. It also critically assesses the ATML compatibility with these agreements: and answers the research question of to what extent the ATML provisions are compatible with them. Chapter three provides information on the different purposes of trademarks from a development perspective and compares the purposes provided by the ATML. Finally, chapter four assesses and examines the acquisition, assignment and termination of trademarks. The conclusions and findings of the thesis are the final section of this research.
Afghanistan, as a transitioning economy, has not developed a solid legal and practical foundation for providing comprehensive protection mechanisms for trademarks as have been articulated in developed countries and international agreements. Accordingly, the Afghan government has not entirely integrated these needs into its legal system and there are some inconsistencies of the ATML with these agreements.
One more challenge is the lack of appropriate legal institutions for issuing, managing, administering and protecting of trademarks. The establishment of a well-functioning administrative institution will serve to fulfil the objectives of the laws. Therefore, the CBR office holds the administrative responsibility for processing the registration of trademarks.
However, the methods and facilities of the CBR office remain outdated, and the office does not have the capacity to provide applicants with up-to-date administrative and technical facilities.
Therefore, legal protection of trademark in Afghanistan is linked not only to the existence of a well functioning of laws, regulations, clear procedures, mechanism and guidelines but also to an efficient and well-functioning administrative office.
The purpose of this thesis is to achieve two highly interconnected yet distinct tasks. On the one hand, the thesis explains how foreign investment insurance works by focusing on the law governing the relationships between involved actors. On the other hand, it provides a critique of the operation of foreign investment insurance as an investment protection instrument by mainly drawing on critical studies of the investment protection regime.
The main question this thesis attempts to answer is how foreign investment insurance works. I construe foreign investment insurance as a typical insurance product and focus on the operation of insurance arrangements from a legal perspective. Ideas about how insurance should be deployed in any given social, political or economic context are instrumental in the development of insurers, insurance products and insurance techniques. The thesis examines investment insurers, the products they offer and their techniques to identify and deal with so-called political risks.
Another important question concerns the notion of political risk. What are considered political risks in the context of investment insurance and how are they conceptualized by investment insurance providers? Investment insurers have largely adopted a business-oriented political risk definition which denotes governmental intervention in foreign investment as political risk without regard to the objectives of government actions. Descriptive studies explain political risk by replicating investment insurers’ categorization of basic coverages that include expropriation, currency inconvertibility and remittance transfer restrictions, political violence and breach of contract. Yet recent studies have increasingly provided in-depth analyses on the notion of political risk as well as on the specific categories of political risk, particularly expropriation. The thesis draws on these studies to critically discuss the concept of political risk as it is used by investment insurance providers.
I focus on foreign investment insurance provided by OPIC and MIGA due to their mandate to promote economic development in the capital-importing countries and for their historical role as the major providers of investment insurance. While focus is on MIGA and OPIC, the thesis offers a general account of the operation of foreign investment insurance by incorporating the available information on investment insurance industry and the international governance of investment insurance. The central issues explored in this thesis such as the principle of subrogation and the notion of political risk help me generalize the study as these issues are characterized similarly with respect to each public investment insurance provider.
The case studies and most examples in this thesis are based on expropriation risk insurance.
The venture capital industry holds relevance for entrepreneurs looking for money to finance an innovative project, investors seeking to make money by investing in entrepreneurial firms and governments trying to promote innovation and entrepreneurship. Venture capital investment could facilitate innovation and thus a better economy.
Venture capital has enabled the U.S. to support its entrepreneurial talent by turning ideas into world-famous products and services, building companies from mere business plans to mature and powerful organizations. Three of the five largest U.S. public companies by market capitalization – Apple, Google and Microsoft – received most of their early external funding from venture capital. Having its ups and downs, venture capital investment in the U.S. expanded from virtually zero in the mid-1970s to $8 billion in 1995 and $49.3 billion in 2014. Venture backed companies have been a prime driver of economic growth in the U.S.Across the pacific, venture capital investment in China has grown out of the transition from a centrally planned economy to a free market economy over the past three decades, becoming an important pillar supporting China’s innovation system. In 2015, a total of 2,824 venture capital investment deals provided an aggregate investment of $36.9 billion. Venture capital has long been a hot topic in China’s capital market, particularly since the government decided to boost “mass entrepreneurship and innovation” in 2014.
In the U.S., most venture capital firms are organized as limited partnerships, with the venture capitalists being general partners and the investors limited partners. Studies have shown that investors choose to invest through venture funds as an intermediary rather than placing their investments directly with the entrepreneurs; because of the high risk nature of the entrepreneur’s business, it is hard for them to get bank loans or direct equity investments. Conflicts may also arise, however, between the venture capitalists acting as agents and the investors as principals.5 This agency problem maybe particularly severe, since venture capital provides money for businesses with high potential and high risk, although the limited partnership has certain merits and is still most commonly chosen as the business form for venture capital funds.6 At the same time, the fact that general partners have total control of the partnership business necessitates that the agency problem is addressed by legal rules, contracts and other mechanisms.
Meanwhile, despite the rapid growth of venture capital investments in China, little attention has been paid to the organizational form of venture capital funds. In contrast to the U.S., most Chinese venture funds have been structured as corporations. One may argue that it was due to legislative reasons: that the limited partnership was not recognized by Chinese law when venture capital first appeared in China. However, after adopted a chapter was adopted in the Partnership Enterprise Law (PEL) governing limited partnerships in 2007, most of the venture funds abided by their choice, while those opting for the limited partnership have encountered difficulties: the limited partners are having trouble trusting the general partners with their money and are therefore interfering with the operation of the partnership business, which may lead to dissolution of the partnership.
This thesis applies transaction cost theory to explain the benefits and costs of choosing the limited partnership as a business form in the special context of venture capital investments, showing that the potential agency conflict between the general partners and the limited partners have been mitigated by legal and other mechanismsin the United States, and that the U.S. investors could therefore exploit the merit of the limited partnership form in venture capital financing. In China, investors have different answers to the agency problem. Similarly to the situation in the U.S., Chinese partners also employ contract terms to deal with agency problems, and the legislators enact laws that aim at regulating the limited partnership form; some legislation was even transplanted from the U.S., such as that part of the PEL which governs limited partnerships. It seems, then, that similar mechanisms that deal with agency problems also exist in China. However, given the unique history of the development of China’s innovation system and venture capital market, the effectiveness of these constraints is questionable. Chinese venture capital investors have therefore characteristically behaved differently to U.S. investors. Rather than relying on these questionable mechanisms, Chinese investors as well as the Chinese government have developed different approaches to addressing these agency problems.