Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Revolution in Manipulation Law PDF full book. Access full book title Revolution in Manipulation Law by Rosa M. Abrantes-Metz. Download full books in PDF and EPUB format.
Author: Rosa M. Abrantes-Metz Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Two major banks have now admitted that their employees successfully manipulated worldwide interest rates through the London InterBank Offered Rate, the most widely used interest rate index. Libor is the interest rate term for trillions of dollars of swaps and loans, and its manipulation may have been used to extract billions of dollars. These allegations come just as commodities manipulation law has been dramatically reformed and the Commodity Futures Trading Commission (“CFTC”) given vast new regulatory powers. This Article provides the first extended, scholarly analysis of the CFTC's new anti-manipulation rules. We consider the difficulty the rules address: commodities manipulation claims have traditionally faced nearly insuperable obstacles to success in prosecuting manipulations like that of Libor. We then analyze the new rules, including their extension of the CFTC's powers to cover the swap market. The new rules appropriately lower the standards of pleading and proof, and yet the breadth of the new rules invites abuse. Both to implement the new rules and to prevent overuse, we argue for more elaborate, sophisticated, and creative economic analysis than ever before. We provide a wide-ranging overview of empirical tools for assessing manipulation claims, while re-engaging with a decades-old debate on the place of empiricism in the laws of evidence and intent. We provide detailed examples of how manipulation screens are necessary to complete Dodd-Frank's revolution in manipulation law.
Author: Rosa M. Abrantes-Metz Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Two major banks have now admitted that their employees successfully manipulated worldwide interest rates through the London InterBank Offered Rate, the most widely used interest rate index. Libor is the interest rate term for trillions of dollars of swaps and loans, and its manipulation may have been used to extract billions of dollars. These allegations come just as commodities manipulation law has been dramatically reformed and the Commodity Futures Trading Commission (“CFTC”) given vast new regulatory powers. This Article provides the first extended, scholarly analysis of the CFTC's new anti-manipulation rules. We consider the difficulty the rules address: commodities manipulation claims have traditionally faced nearly insuperable obstacles to success in prosecuting manipulations like that of Libor. We then analyze the new rules, including their extension of the CFTC's powers to cover the swap market. The new rules appropriately lower the standards of pleading and proof, and yet the breadth of the new rules invites abuse. Both to implement the new rules and to prevent overuse, we argue for more elaborate, sophisticated, and creative economic analysis than ever before. We provide a wide-ranging overview of empirical tools for assessing manipulation claims, while re-engaging with a decades-old debate on the place of empiricism in the laws of evidence and intent. We provide detailed examples of how manipulation screens are necessary to complete Dodd-Frank's revolution in manipulation law.
Author: Andri Fannar Bergþórsson Publisher: BRILL ISBN: 9004366652 Category : Business & Economics Languages : en Pages : 326
Book Description
The Market Abuse Regulation (MAR) entered into force in 2016 within the European Union, which introduced a fully harmonized ban on market manipulation. Even though the regulation is quite detailed, the terms used to define market manipulation are relatively vague and open-ended. In What Is market manipulation? Dr. Andri Fannar Bergþórsson offers unique insight to and an interpretation of the concept of market manipulation, which includes an analysis of case law from the Nordic countries. The aim of the book is to clarify the concept as described in MAR and to provide readers some guidelines to distinguish between lawful behaviour and market manipulation (the unlawful behaviour). Bergþórsson convincingly argues that misinformation is an essential element of all forms of market manipulation.
Author: Piers Beirne Publisher: M.E. Sharpe ISBN: 9780873325608 Category : Juvenile Nonfiction Languages : en Pages : 222
Book Description
The essays in this volume reassess pre-revolutionary Russian legal culture, the debates of the 1920s over the role of law under socialism, and the abrupt and bloody termination of the debate which took place in the 1930s.
Author: Dan Edelstein Publisher: University of Chicago Press ISBN: 0226184404 Category : Literary Criticism Languages : en Pages : 351
Book Description
Natural right—the idea that there is a collection of laws and rights based not on custom or belief but that are “natural” in origin—is typically associated with liberal politics and freedom. In The Terror of Natural Right, Dan Edelstein argues that the revolutionaries used the natural right concept of the “enemy of the human race”—an individual who has transgressed the laws of nature and must be executed without judicial formalities—to authorize three-quarters of the deaths during the Terror. Edelstein further contends that the Jacobins shared a political philosophy that he calls “natural republicanism,” which assumed that the natural state of society was a republic and that natural right provided its only acceptable laws. Ultimately, he proves that what we call the Terror was in fact only one facet of the republican theory that prevailed from Louis’s trial until the fall of Robespierre. A highly original work of historical analysis, political theory, literary criticism, and intellectual history, The Terror of Natural Right challenges prevailing assumptions of the Terror to offer a new perspective on the Revolutionary period.
Author: Nimer Sultany Publisher: Oxford University Press ISBN: 0191081523 Category : Law Languages : en Pages : 320
Book Description
What is the effect of revolutions on legal systems? What role do constitutions play in legitimating regimes? How do constitutions and revolutions converge or clash? Taking the Arab Spring as its case study, this book explores the role of law and constitutions during societal upheavals, and critically evaluates the different trajectories they could follow in a revolutionary setting. The book urges a rethinking of major categories in political, legal, and constitutional theory in light of the Arab Spring. The book is a novel and comprehensive examination of the constitutional order that preceded and followed the Arab Spring in Egypt, Tunisia, Libya, Morocco, Jordan, Algeria, Oman, and Bahrain. It also provides the first thorough discussion of the trials of former regime officials in Egypt and Tunisia. Drawing on a wide range of primary sources, including an in-depth analysis of recent court rulings in several Arab countries, the book illustrates the contradictory roles of law and constitutions. The book also contrasts the Arab Spring with other revolutionary situations and demonstrates how the Arab Spring provides a laboratory for examining scholarly ideas about revolutions, legitimacy, legality, continuity, popular sovereignty, and constituent power.
Author: Gregory Scopino Publisher: Cambridge University Press ISBN: 1316732665 Category : Law Languages : en Pages : 485
Book Description
The trillion-dollar markets for futures, swaps, commodity options, and related derivatives are extremely important to the global economy because, among other things, they influence the prices that people pay for everything from heating oil and bread to the interest rates connected to mortgages and student loans. Due to technological advances in automation and artificial intelligence, these markets have recently undergone a dramatic transformation away from human-centered trading and operations to control by high-speed automated systems. In this work, Gregory Scopino explains how such changes present challenges to the oversight of these markets and discusses potential ways for authorities to address issues presented by computerized trading and related systems. This book should be read by anyone interested in learning how artificial intelligence is used in the financial markets and how those markets are - and should be - regulated.
Author: Huseyin Cagri Corlu Publisher: Kluwer Law International B.V. ISBN: 9041196048 Category : Law Languages : en Pages : 314
Book Description
In the course of energy liberalisation, electricity and natural gas contracts have been separated from physical delivery, and these contracts are now traded as commodities in multilateral trading facilities. Although designed to render energy trading standardised and efficient, this system raises serious questions as to whether existing regulatory and antitrust provisions are sufficient to address market abuses that cause imbalances in demand and supply. The European Union’s (EU’s) Regulation on Wholesale Energy Market Integrity and Transparency (REMIT), adopted to combat such market manipulation, is still lacking in significant case law to bolster its effectiveness. Addressing this gap, this invaluable book provides the first in-depth analysis of market manipulation in the energy sector, offering a deeply informed understanding of the new anti-manipulation rules and their implementation and enforcement. Focusing on practices that perpetrators employ to manipulate electricity and natural gas markets and the applicability of anti-manipulation rules to combat such practices, the analysis examines such issues and topics as the following: – factors and circumstances that determine when and what market misconduct can be subject to enforcement; – the European Commission’s criteria to determine whether a particular market is susceptible to regulation; – jurisdiction of REMIT and the Market Abuse Regulation (MAR) with respect to the prohibitions of insider trading in financial wholesale energy markets; – to what extent anti-manipulation rules and EU competition law may be applied concurrently; and – types of physical and financial instruments that market participants have employed in devising their manipulative schemes. Because market manipulation is rather new in the EU context but has been prohibited and prosecuted under US law for over a century, much of the case law analysis is from the United States and greatly clarifies how anti-manipulation rules may be enforced. A concluding chapter offers policy recommendations to mitigate legal uncertainties arising from REMIT. Energy market participants, such as energy producers, wholesale suppliers, traders, transmission system operators and their counsel, and legal practitioners in the field will welcome this book’s extensive legal analysis and its clear demarcation of the objectives that REMIT seeks to accomplish with respect to energy market liberalisation.
Author: Piers Beirne Publisher: Routledge ISBN: 1134943202 Category : Political Science Languages : en Pages : 345
Book Description
The essays in this volume reassess pre-revolutionary Russian legal culture, the debates of the 1920s over the role of law under socialism, and the abrupt and bloody termination of the debate which took place in the 1930s.
Author: Sarah Worthington Publisher: Bloomsbury Publishing ISBN: 1509913262 Category : Law Languages : en Pages : 371
Book Description
The development of private law across the common law world is typically portrayed as a series of incremental steps, each one delivered as a result of judges dealing with marginally different factual circumstances presented to them for determination. This is said to be the common law method. According to this process, change might be assumed to be gradual, almost imperceptible. If this were true, however, then even Darwinian-style evolution – which is subject to major change-inducing pressures, such as the death of the dinosaurs – would seem unlikely in the law, and radical and revolutionary paradigms shifts perhaps impossible. And yet the history of the common law is to the contrary. The legal landscape is littered with quite remarkable revolutionary and evolutionary changes in the shape of the common law. The essays in this volume explore some of the highlights in this fascinating revolutionary and evolutionary development of private law. The contributors expose the nature of the changes undergone and their significance for the future direction of travel. They identify the circumstances and the contexts which might have provided an impetus for these significant changes. The essays range across all areas of private law, including contract, tort, unjust enrichment and property. No area has been immune from development. That fact itself is unsurprising, but an extended examination of the particular circumstances and contexts which delivered some of private law's most important developments has its own special significance for what it might indicate about the shape, and the shaping, of private law regimes in the future.
Author: Rosa M. Abrantes-Metz
Author: Rosa M. Abrantes-Metz
Author: Andri Fannar Bergþórsson
Author: Piers Beirne
Author: Dan Edelstein
Author: Nimer Sultany
Author: Gregory Scopino
Author: Huseyin Cagri Corlu
Author: Piers Beirne
Author: Charles R. Epp
Author: Sarah Worthington