1,721,022 research outputs found
Bank-Fintech partnerships, outsourcing arrangements and the case for a mentorship regime
Full text linkFintech firms, once seen as ‘disruptors’ of the traditional banking world, are now increasingly seen as attractive partners for established financial institutions. Such partnership agreements come in different forms and contexts, but most share the goals of outsourcing key banking functions and facilitating market entry for new market players while overcoming relatively tough regulatory hurdles.
Yet, such arrangements, while generally to be welcomed, pose a number of regulatory problems, in particular concerning the effective supervision of fintechs that operate outside of the direct purview of regulatory authorities. Questions of enforcement and effective supervision emerge, which may ultimately result in problems regarding market stability and systemic risk. Regulatory sandboxes represent one attempt to address these problems but may fail to do so and are often ineffective or unavailable. Other similar solutions, such as Fintech charters and umbrella firms, may help but, similarly, provide an imperfect solution.
Against this backdrop, we make the case for a ‘mentorship regime’, which provides for a reliable regulatory framework for partnership agreements between Fintech firms and established banks. This would allow for a de facto ‘private sandbox’ where experienced firms could mentor new startups and help them to cope with a complex regulatory process. At the same time, a mentorship regime would clear up the allocation of responsibilities, supervision competences, and liability questions and thus overcome problems of arbitrage and abuse. Ultimately, a mentorship regime may show the way to a new and more reliable future system of banking, making the well-established contractual practice of outsourcing banking services more reliable
Related party transactions
No full textThis chapter examines related party transactions (RPTs), explaining their prevalence across jurisdictions and their potential to facilitate both value creation and shareholder expropriation. It distinguishes between RPTs and tunneling, showing how dominant shareholders may use RPTs to extract private bene ts while recognizing that some RPTs serve legitimate business purposes. The chapter analyses key regulatory approaches to mitigate tunneling, including prohibitions, procedural safeguards such as independent director and majority-of-the-minority approval, mandatory disclosure, external independent advice, and ex post judicial review. It stresses that these measures depend on effective enforcement institutions and a business culture that rejects tunneling as an acceptable practice. Finally, the chapter concludes that without experienced regulators, active judicial oversight, and market actors committed to fair corporate governance, legal reforms targeting RPTs cannot prevent minority shareholder expropriation
Corporate carbon reduction pledges: beyond greenwashing
No full textClimate change is widely recognised as one of society's most profound challenges. In facing that challenge, the role of businesses is central. Corporations have a crucial role to play in mitigating climate change by reducing their net emissions and by driving the innovation and adaptation that are necessary to bring about a net zero economy. This volume brings together leading thinkers to evaluate the contribution that business law has made, and could make, to help drive such change.
The contributions are organized under 4 broad themes:
· Climate Change Disclosures and Net Zero Commitments
· Climate Change: Exit or Voice
· Climate Change in the Boardroom
· Climate Change in the Courtroo
Corporate-Governance-Reformen und Delistings in aufstrebenden Börsenmärkten: Der Fall Ägypten
No full textIncentives, Sustainability, and Law: The relationship between executive pay regulation and corporate social responsibility
Full text linkWhat is the relationship between executive pay regulation and corporate social responsibility
(CSR)? Currently, CSR is neither sufficiently included in economic research on executive pay,
nor is pay regulation considered as a potential instrument in the growing body of CSR
legislation. The successful proliferation of CSR in business practice and the attention
policymakers and legislators now pay to it, however, have raised the importance of answering
these questions. Thus, this blind spot in corporate governance—the relationship between
compensation, CSR, and law—is the topic of this thesis.
The dissertation approaches these issues in two subsequent research question: first, the role of
executive pay regulation as an institutional determinant of CSR engagement is identified. From
the results of this, the second research question arises: should legislators promote CSR
engagement and—if so—how? Lastly, a case study is conducted to map how the influence of
index funds as an important driver of CSR in corporate governance should be accommodated
in the design of CSR legislation.
The research project shows that pay regulation is part of the institutional determinants of CSR
and, depending on its design, can incentivise or discourage different forms of CSR engagement.
As a form of private self-regulation, CSR is closely interconnected with legal rules and the
result of complex underlying drivers inside and outside the firm. The study develops a
differentiation of CSR activities to accommodate this complexity, which is applied in an
analysis of pay regulation. Together, these inquiries form a comprehensive picture of the ways
in which pay regulation sets incentives for CSR engagement. Finally, the thesis shows how
CSR-oriented pay regulation is consistent with the conventional goals of corporate governance
and eventually provides a prospect for the integration of CSR and corporate law in general
Cross-Border Restructuring:Company Law between Treaty Freedom and State Protectionism
No full textArtiklen drøfter muligheden for protektionisme i selskabsretten, navnlig i lyset af Domstolens afgørelser i golden share-sagerne og Direktivet om overtagelsestilbu
Releasability Combined Buffer Requirements after the COVID-19 pandemic
Full text linkThis chapter discusses the relasing of certain combined buffer requirements for banks after the outbreak of the COVID-19 Pandemic, and particularly addresses the debate that spun off after the measures being taken by the European Central Bank and National Caompetent Authorities about the suitability of the current macro-prudential toolkit
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