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详细
Fully updated by a team of expert practitioners, this third edition of European Securities Law continues to provide a comprehensive source of knowledge, and practical know-how, about the regulation and operation of the securities markets in Europe. The opening of the work provides the reader with a critical overview of the European legislative process and regulatory framework in the context of public and private capital-raising activities (equity and debt), trading activities, takeovers of publicly traded companies, and the associated liabilities. The implications of the recent EU Prospectus Regulation and the EU Market Abuse Regulation are discussed, as well as the Transparency Directive, the Takeover Directive and the MiFID regimes. Particular considerations for non-EU issuers are also considered, including the position of the UK following Brexit. Part II examines the practicalities of planning and conducting the most common types of transactions under the applicable regulation, highlighting the ways in which key issues, concerns and uncertainties are dealt with by experienced professionals. Key elements of the processes of selected EU Member States are discussed throughout, and a useful chart outlines the process involved in passporting a prospectus into different EU Member States. Part II also features a chapter new to this edition, covering the ongoing development of the high yield bond market in Europe. In Part III, a country-by-country analysis covers specific issues that arise in eleven of the most significant EU Member States (and the United Kingdom) exploring matters of national legislation as well as interpretation and implementation of EU legislation by those EU Member States. The UK chapter considers the implications of Brexit for market players in the United Kingdom and Europe. This work is an essential resource for all lawyers advising on securities transactions and financial and securities laws, whether for clients based in Europe or for non-EU issuers in Europe.
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Part I
1.: Lachlan Burn: The European Directives relating to Issue and Trading of Securities
Part II
2.: Raj Panasar, Luis de Carlos, Javier Redonet, Angel Berti: Equity
3.: Mark Trapnell, Eric Phillips: Debt Offerings and Programmes
4.: Charles Howarth: Private Placements in Europe and the US
5.: Kathy Hughes: Liability for London Listing
6.: Tim Lewis: Takeovers and Stakebuilding
7.: Andrew Thompson: Special Considerations for Non-EU Issuers
8.: Simon Witty: Underwriting Practice and Procedure
Part III
9.: Florian Khol, Mathias Burger: Austria
10.: Jean-Pierre Blumberg: Belgium
11.: Christian Lundgren, Pernill Hostrup Dalhoff, Christina Schmidt: Denmark
12.: Petri Haussila, Petro Avikainen: Finland
13.: Marie-Laurence Tibi: France
14.: Mark Strauch: Germany
15.: Cian McCourt: Ireland
16.: Pietro Fioruzzi, Nicole Brunella Puppieni, Eugenio Simone De Nardis: Italy
17.: Philippe Hoss: Luxembourg
18.: Derk Lemstra, Marius Josephus Jitta, Rogier Raas: The Netherlands
19.: Carlos Costa Andrade, Ana Sa Couto: Portugal
20.: Luis de Carlos, Marta Rios: Spain
21.: Emil Boström: Sweden
22.: Raj Panasar, Sebastian Cameron: UK
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Raj S. Panasar is a Partner at Cleary Gottlieb Steen & Hamilton LLP. Mr. Panasar's practice focuses on international financing transactions. He represents corporate issuers and financial institutions in public and private international equity, high yield and other debt offerings, and also advises on syndicated bank lending transactions and leveraged finance.
Philip J. Boeckman is a Partner in Cravath's Corporate Department and Managing Partner of the Firm's London office. He has been based in the Firm's London office since 2000, when he relocated to London from the New York office.
Contributors:
Lachlan Burn
Raj Panasar
Luis de Carlos
Javier Redonet
Mark Trapnell
Charles Howarth
Kathy Hughes
Tim Lewis
Andrew Thompson
Florian Khol
Mathias Burger
Jean-Pierre Blumberg
Christian Lundgren
Pernille Hostrup Dalhoff
Christina Schmidt
Petri Haussila
Petri Avakainen
Marie-Laurence Tibi
Mark Strauch
Cian McCourt
Pietro Fioruzzi
Nicole Brunella Puppieni
Eugenio Simone de Nardis
Philippe Hoss
Derk Lemstra
Marius Jitta
Rogier Raas
Carlos Costa Andrade
Ana Sa Couto
Emil Boström
Sebastian Cameron
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Review(s) from previous edition
"In the reviewer's opinion, this is not only a well-written, but also an illuminating, source on the European securities law, dealing with wide-ranging issues as they are practised in the major economies of Europe - Dr Jonathan Mukwiri, Journal of Business Law