Regulation

Working Paper

05 May 2020

Some Reflections on the Self-insider and the Market Abuse Regulation – The Self-insider as a Monopoly-Square Insider

This article deals with the self-insider, i.e. the possible creation of the inside information by a person and its (abusive) exploitation. It describes the situation in Italy and Germany and then provides a taxonomy of the several cases...

Stefano Lombardo
16 March 2020

Corporate Governance of Banks and Financial Institutions: Economic Theory, Supervisory Practice, Evidence and Policy

Banks are special, and so is the corporate governance of banks and other financial institutions as compared with the general corporate governance of non-banks. Empirical evidence, mostly gathered after the financial crisis,...

Klaus Hopt
13 November 2019

Implicit Communication and Enforcement of Corporate Disclosure Regulation

The communication of non-public information in private meetings between corporate officials and financial analysts presents a distinctive regulatory challenge. One reason is that there typically is no record of what transpires in a...

Ashiq Ali | Jill Fisch | Hoyoun Kyung
10 November 2019

Addressing the Auditor Independence Puzzle: Regulatory Models and Proposal for Reform

Auditors play a major role in corporate governance and capital markets. Ex ante, auditors facilitate firms’ access to finance by fostering trust among public investors. Ex post, auditors can prevent misbehavior and financial fraud...

Martin Gelter | Aurelio Gurrea-Martinez

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