Download or read book The Law of Private Investment Funds written by Timothy Spangler and published by OUP Oxford. This book was released on 2012-09-06 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new edition of The Law of Private Investment Funds offers a practical analysis of the legal and regulatory issues that arise in connection with the structuring, formation, and operation of private investment funds, including hedge funds, private equity funds, real estate funds, and other non-retail collective investment vehicles. The book provides a unique analysis of these funds on a pan-asset class basis, as well as from a US, UK, and European perspective. The themes of investor protection and fiduciary challenge are considered in the context of the various sources available for investor protection including the substantive rights and obligations under general law, and voluntary and statutory rights of regulation. The author considers the various aspects of running private investment funds against the backdrop of regulation and investor protection. Issues such as structuring and launching, and marketing private investment funds are considered in full. The author also looks at the governance challenge where limited partnerships and offshore companies are concerned. The book identifies governance as a key issue for private investment fund participants and discusses in depth several ways in which managers and fund participants can improve the governance of their funds. In addition it analyses the consequences and impact of the recent global financial crisis on private funds, and the response of the US, UK, and European regulators. The new edition includes increased coverage of best practice and industry guidelines, including the ILPA Guidelines for private equity funds, and the MFA's Best Practices for hedge funds. It also provides discussion of new regulatory regimes in the US and EU, including the Dodd Frank Act and AIFMD.

Download or read book Regulatory Competition in European Corporate and Capital Market Law written by Lars Hornuf and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with regulatory competition in corporate and capital market law in Europe - i.e. the endeavor of national and supranational legislators to develop more attractive corporate legal forms and investment frameworks. The book focuses on some recent national corporate law reforms, the newly introduced European legal form Societas Europaea, and the choice of law in corporate debt securities. It combines legal reasoning and advanced econometric techniques to investigate the virtues of regulatory competition in Europe. As it turns out, the merits of regulatory competition in corporate and capital market law are not straightforward, but have to be evaluated on a case-by-case basis. (Series: European Studies in Law and Economics - Vol. 7)

Download or read book Regulating Investor Protection Under Eu Law written by Antonio Marcacci and published by Palgrave MacMillan. This book was released on 2019-07-25 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the legal system for the protection of retail investors under the European Union law of investment services. It identifies the regulatory leitmotiv driving the EU lawmaker and ascertains whether and to what extent such a system is self-sufficient, using a set of EU-made and EU-enforced rules that is essentially different and autonomous from the domestic legal orders. In this regard, the book takes a double perspective: comparative and intra-firm. Given the federal dimension of the US legal system and, thus, the "role-model" it plays vis-à-vis the EU, the book compares the two systems. To fully highlight the existing gaps and measure how self-sufficient the EU system is against its American counterpart, the Union/Federal level as such is analyzed - i.e., detached from the national (in EU terms) and State (in US terms) level. Regulating Investor Protection under EU Law also showcases the unique intra-firm perspective from a European investment firm and analyzes how EU-produced public-law rules become a set of compliance requirements for investment services providers. This "within-the-firm" angle gauges the self-sufficiency of the EU system of retail investor protection from the standpoint of an EU-regulated entity. The book is intended for both compliance professionals and academic scholars interested in this topic while also including illustrative sections intended to provide a broader regulatory view for less-experienced readers.

Download or read book EU Investor Protection Regulation and Liability for Investment Losses written by Marnix Wallinga and published by Springer. This book was released on 2021-11-01 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the relationship between the EU investor protection regulations enshrined in MiFID and MiFID II and national contract and torts law. It describes how the effect of the conduct of business rules as implemented in national financial supervision legislation in private law extends to the issue of enforcement, and critically assesses this interaction from the perspective of EU law. In particular, the conclusions identified in the book will deepen readers’ understanding of the interplay between the conduct of business rules and private law norms governing a firm’s liability to pay damages, such as duty of care, attributability of damage, causation, contributory negligence and limitation. In turn, the book identifies the subordination and the complementarity model to conceptualise the interaction between the conduct of business rules and private law norms. Moreover, the book challenges the view that civil courts are – or should be – forced to give private law effects to violation of the MiFID and MiFID II conduct of business rules in line with the subordination model. Instead, the complementarity model is advanced as the preferred approach to this interaction in view of what MiFID and MiFID II require from Member States in terms of their implementation, as well as the desirability of each model. This model presupposes that courts should consider the conduct of business rules when adjudicating individual disputes, while preserving the autonomy of private law norms governing liability of investment firms towards clients. Based on analysis of case law of courts in Germany, the Netherlands and England & Wales, as well as scholarly literature, the book also compares the available causes of action, the conditions of liability and the obstacles investors face when claiming damages, as well as how and the extent to which investors can benefit from the conduct of business rules in clearing these obstacles. In so doing, under the approach adopted by national courts to the interplay between the conduct of business rules of EU origin and private law, the book shows how investors can benefit from the influence of these rules on private law norms. In closing, it demonstrates a hybridisation of private law remedies resulting from the accommodation of the conduct of business rules into the private law discourse according to the complementarity model, illustrating how judicial enforcement through private law means may contribute to investor protection.

Download or read book How Venture Capital Works written by Phillip Ryan and published by The Rosen Publishing Group, Inc. This book was released on 2012-07-01 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explanations to the inner workings of one of the least understood, but arguably most important, areas of business finance is offered to readers in this engaging volume: venture capital. Venture capitalists provide necessary investment to seed (or startup) companies, but the startup is only the beginning, there is much more to be explored. These savvy investors help guide young entrepreneurs, who likely have little experience, to turn their businesses into the Googles, Facebooks, and Groupons of the world. This book explains the often-complex methods venture capitalists use to value companies and to get the most return on their investments, or ROI. This book is a must-have for any reader interested in the business world.

Download or read book The Economics of Crowdfunding written by Douglas Cumming and published by Springer. This book was released on 2018-01-30 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on various types of crowdfunding and the lessons learned from academic research. Crowdfunding, a new and important source of financing for entrepreneurs, fills a funding gap that was traditionally difficult to close. Chapters from expert contributors define and carefully evaluate the various market segments: donation-based and reward-based crowdfunding, crowdinvesting and crowdlending. They further provide an assessment of startups, market structure, as well as backers and investors for each segment. Attention is given to the theoretical and empirical findings from the recent economics and finance literature. Furthermore, the authors evaluate relevant regulatory efforts in several jurisdictions. This book will appeal to finance, entrepreneurship and legal scholars as well as entrepreneurs and platform operators.

Download or read book Financial Advice and Investor Protection written by Sandra Booysen and published by Edward Elgar Publishing. This book was released on 2021-12-31 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive book offers a rigorous analysis of the legal debates, approaches and practice-related issues surrounding financial advice and investor protection. Despite widespread recognition of the importance of financial inclusion more broadly construed, recent financial crises have highlighted deficits in retail investor protection - this book informs the development of robust yet adaptable frameworks to protect investors, including effective enforcement and dispute resolution. Divided into three thematic parts, Financial Advice and Investor Protection begins with a holistic discussion of the subject, including an examination of the impact of relatively recent technical innovations such as robo-advice. The second part evaluates the role of private law in achieving investor protection, considering in particular how tort law, contract law and equity allocate risk and liability for investment advice. Finally, the book outlines the investor protection frameworks in the jurisdictions of six significant financial centres. This book will be a crucial read for various stakeholders in the investor protection debate including practitioners advising clients who work in this field, particularly across several of the jurisdictions covered, as well as policymakers interested in the development of law and regulation in this area. Scholars and students of financial law will also benefit from its comprehensive and critical treatment of the subject.

Download or read book The LPA Anatomised written by Nigel Van Zyl and published by . This book was released on 2018 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Investor Protection and Corporate Governance written by Alberto Chong and published by World Bank Publications. This book was released on 2007-06-26 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level the first such data in the region and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance measures. The book's analysis reveals the very high levels of ownership and voting rights concentrations and monolithic governance structures in the largest samples of Latin American companies up to now, and new data emphasize the importance of specific characteristics of the investor protection regimes in several Latin American countries. By and large, those firms with better governance measures across several dimensions are granted higher valuations and thus lower cost of capital. This title will be useful to researchers, policy makers, government officials, and other professionals involved in corporate governance, economic policy, and business finance, law, and management.

Download or read book Seeking Virtue in Finance written by JC de Swaan and published by Cambridge University Press. This book was released on 2020-09-17 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the Global Financial Crisis, a surge of interest in the use of finance as a tool to address social and economic problems suggests the potential for a generational shift in how the finance industry operates and is perceived. J. C. de Swaan seeks to channel the forces of well-intentioned finance professionals to improve finance from within and help restore its focus on serving society. Drawing from inspiring individuals in the field, de Swaan proposes a framework for pursuing a viable career in finance while benefiting society and upholding humanistic values. In doing so, he challenges traditional concepts of success in the industry. This will also engage readers outside of finance who are concerned about the industry's impact on society.

Download or read book Investment Protection in Brazil written by Daniel de Andrade Levy and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Showing unambiguously that Brazil in fact enjoys a stable legal system which grants foreign direct investment the same material and procedural rights as national direct investment, the contributors to this book provide a truly informative and useful guide for those who work with law and policy in international investment."--Publisher's website

Download or read book Private Equity at Work written by Eileen Appelbaum and published by Russell Sage Foundation. This book was released on 2014-03-31 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully evaluate the evidence—including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing academic scholarship—to demonstrate the effects of private equity on American businesses and workers. They document that while private equity firms have had positive effects on the operations and growth of small and mid-sized companies and in turning around failing companies, the interventions of private equity more often than not lead to significant negative consequences for many businesses and workers. Prior research on private equity has focused almost exclusively on the financial performance of private equity funds and the returns to their investors. Private Equity at Work provides a new roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit the partners in private equity firms at the expense of other stakeholders and taxpayers. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 companies—representing almost 8 million employees—have been purchased by private equity firms. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers. Appelbaum and Batt show that private equity firms’ financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. Their risky decisions include buying companies and extracting dividends by loading them with high levels of debt and selling assets. These actions often lead to financial distress and a disproportionate focus on cost-cutting, outsourcing, and wage and benefit losses for workers, especially if they are unionized. Because the law views private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. And their actions are not transparent because private equity owned companies are not regulated by the Securities and Exchange Commission. Thus, any debts or costs of bankruptcy incurred fall on businesses owned by private equity and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms. A groundbreaking analysis of a hotly contested business model, Private Equity at Work provides an unprecedented analysis of the little-understood inner workings of private equity and of the effects of leveraged buyouts on American companies and workers. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike.

Download or read book Private Equity as an Asset Class written by Guy Fraser-Sampson and published by John Wiley & Sons. This book was released on 2010-05-17 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unfairly reviled, and much misunderstood, private equity differs from all other asset classes in various important respects, not least the way in which its fund mechanisms operate, and the way in which its returns are recorded and analysed. Sadly, high level asset allocation decisions are frequently made on the basis of prejudice and misinformation, rather than a proper appreciation of the facts. Guy Fraser-Sampson draws upon more than twenty years of experience of the private equity industry to provide a practical guide to mastering the intricacies of this highly specialist asset class. Aimed equally at investors, professionals and business school students, it starts with such fundamental questions as ’what is private equity?’ and progresses to detailed consideration of different types of private equity activity such as venture capital and buyout. Rapid and significant changes in the environment during the recent financial crisis have prompted the need for a new edition. Separate chapters have been added on growth and development capital, as well as secondary investing. Newly emergent issues are considered, such as lengthening holding periods and the possible threat of declining returns. Particular problems, such as the need to distinguish between private equity and hedge funds, are addressed. The glossary has also been expanded. In short, readers will find that this new edition takes their understanding of the asset class to new heights. Key points include: A glossary of private equity terms Venture capital Buyout Growth capital Development capital Secondary investing Understanding private equity returns Analysing funds and returns How to plan a fund investment programme Detailed discussion of industry performance figures

Download or read book Private Equity Laws written by Aspatore Books Staff and published by . This book was released on 2006 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private Equity Laws is an authoritative, incisive collection of insider perspectives on the dynamic and innovative forefront of the laws that govern investments, negotiations, and funding within the fields of private equity and venture capital. Featuring group chairs and partners, all representing some of the nation's top firms, this book discusses the current shape and future state of the private equity field. These leading lawyers share their insight on globalization, investment strategies, claw-back provisions, fundraising, conducting successful fund negotiations, and more. Additionally, these authors offer practical guidance for the individual private equity investor or venture capitalist, elaborating on such laws as Sarbanes Oxely, The Investment Company Act, The Securities Act of 1933, The Investment Advisors Act, and other general tax laws that commonly intersect with private equity practices.

Download or read book The Oxford Handbook of Hedge Funds written by Douglas Cumming and published by Oxford University Press. This book was released on 2021 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook provides a comprehensive look at the hedge fund industry from a global perspective.

Download or read book Harnessing Foreign Investment to Promote Environmental Protection written by Pierre-Marie Dupuy and published by Cambridge University Press. This book was released on 2013-03-14 with total page 499 pages. Available in PDF, EPUB and Kindle. Book excerpt: Harnessing Foreign Investment to Promote Environmental Protection investigates the main challenges facing the implementation of environmental protection and the synergies between foreign investment and environmental protection. Adopting legal, economic and political perspectives, the contributing authors analyse the various incentives which encourage foreign investment into pro-environment projects (such as funds, project-finance, market mechanisms, payments-for-ecosystem services and insurance) and the safeguards against its potentially harmful effects (investment regulation, CSR and accountability mechanisms, contracts and codes of conduct).

Download or read book Investor Protection written by Hanneke Wegman and published by Kluwer Law International B.V.. This book was released on 2015-11-24 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: The expansion of the fund industry has been one of the most notable trends in the financial markets of recent years. Not only has the demand for funds among EU investors grown, but both the number and types of investment funds also continue to increase. Since investment funds available in the EU can be established both inside and outside the EU, they may be subject to different investor protection regulations, depending on where the fund is located. Accordingly, different levels of investor protection may exist between investors investing in EU funds and investors investing in non-EU funds, including US funds. This book investigates whether there is a level playing field between EU investors investing in EU funds and EU investors investing in US funds and if not, if there is a legal basis in current EU law for the EU regulator to adopt additional investor protection rules applying to investment funds. The analysis considers the basic characteristics of investment funds, how they function in practice, and how they are regulated relating to investor protection issues. Factors examined in depth include the following: – features of funds most relevant to the protection of retail investors; – operational structure, investment strategies, fee structure, and legal structure of funds; – internal control systems; – transparency and disclosure rules; – conduct of business rules; and – depositary monitoring rules. The author examines relevant EU directives and rules and the particular remit of each, as well as US law applying to investment funds that are active in the EU. Case law and relevant literature in the field is also drawn on. As an assessment of the current degree of protection applying to funds that are available to EU retail investors – as well as an up-to-date overview of regulatory requirements and procedures concerning the protection of EU investors in investment funds – this book is unsurpassed. Especially valuable is the closing discussion about whether the EU regulatory system provides for a level playing field of protection for EU retail investors, and if not which additional rules can be adopted by the EU regulator in this area. Lawyers and other professionals in all areas of law and policy concerned with investment and finance will find this book of great value.