Angelica Dziedzic, C. Lelievre, Jonathan Povilonis, A. Alemanno, P. Morrow
This study assesses the legal feasibility of a EU instrument that would impose mandatory human rights due diligence (“HRDD”) requirements on companies in the garment and textile sector. The proposal serves as an example of a sector-specific approach to HRDD requirements, and could be modified to develop similar proposals in other sectors. The study also illustrates the differences between a sector-specific and a cross-sectoral approach by highlighting the implications of each in the following areas: legal bases, personal scope, and requirements and enforcement.
{"title":"Towards EU Legislation on Human Rights Due Diligence: Case Study of the Garment and Textile Sector","authors":"Angelica Dziedzic, C. Lelievre, Jonathan Povilonis, A. Alemanno, P. Morrow","doi":"10.2139/SSRN.2976330","DOIUrl":"https://doi.org/10.2139/SSRN.2976330","url":null,"abstract":"This study assesses the legal feasibility of a EU instrument that would impose mandatory human rights due diligence (“HRDD”) requirements on companies in the garment and textile sector. The proposal serves as an example of a sector-specific approach to HRDD requirements, and could be modified to develop similar proposals in other sectors. The study also illustrates the differences between a sector-specific and a cross-sectoral approach by highlighting the implications of each in the following areas: legal bases, personal scope, and requirements and enforcement.","PeriodicalId":419519,"journal":{"name":"HEC Paris: Tax & Law (Topic)","volume":"294 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124225760","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This Memorandum to the European Commission presents our professional opinion on the legal and ethical issues arising from the appointment of the former President of the European Commission Jose Manuel Barroso as non-executive chairman and director of Goldman Sachs. We identify a number of flaws of the Opinion of the Ad Hoc Ethical Committee which considered the issue and offer our own analysis of applicable law and the action the Commission is required to take. In our view, the Opinion represents a case of maladministration, on the ground of which it should have been set aside by the Commission in unequivocal terms. On our own analysis, Mr. Barroso’s acceptance of his new appointment was ethically inappropriate and, therefore, a violation of TFEU. Further we argue that the Commission has powers to take remedial action and is legally obliged to act to enforce the EU law and to protect the interests of the EU and its reputation. We show that, contrary to most comments in the media, the expiry of the eighteen months ‘cooling-off’ period does not put Mr. Barroso on the right side of the law, and does not preclude the obligation of the Commission to take remedial action.
{"title":"Memorandum: On the Ethical and Legal Issues Arising from the Appointment of the Former President of the European Commission Jose Manuel Barroso As Non-Executive Chairman and Director of Goldman Sachs International","authors":"Vesco Paskalev, A. Alemanno, Laurent Pech","doi":"10.2139/SSRN.2940292","DOIUrl":"https://doi.org/10.2139/SSRN.2940292","url":null,"abstract":"This Memorandum to the European Commission presents our professional opinion on the legal and ethical issues arising from the appointment of the former President of the European Commission Jose Manuel Barroso as non-executive chairman and director of Goldman Sachs. We identify a number of flaws of the Opinion of the Ad Hoc Ethical Committee which considered the issue and offer our own analysis of applicable law and the action the Commission is required to take. In our view, the Opinion represents a case of maladministration, on the ground of which it should have been set aside by the Commission in unequivocal terms. On our own analysis, Mr. Barroso’s acceptance of his new appointment was ethically inappropriate and, therefore, a violation of TFEU. Further we argue that the Commission has powers to take remedial action and is legally obliged to act to enforce the EU law and to protect the interests of the EU and its reputation. We show that, contrary to most comments in the media, the expiry of the eighteen months ‘cooling-off’ period does not put Mr. Barroso on the right side of the law, and does not preclude the obligation of the Commission to take remedial action.","PeriodicalId":419519,"journal":{"name":"HEC Paris: Tax & Law (Topic)","volume":"103 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116750017","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
TNM Limited successfully concluded a significant IPO in Malawi in terms of shares offered to the general public. Critical review however reveals that little value was transferred to the general public. The shareholders of the company prior to the IPO instituted mechanisms of amassing substantial benefits from the company by splitting shares of the company so as to secure substantial dividends and capital gains at the expense of prospective investors who would be required to buy very huge number of ordinary shares. This puts off informed investors who look for other attractive investments thereby affecting liquidity in the capital market.There is little investors’ confidence on Malawi Stock Exchange as prospective investors are not interested to participate in an IPO because of low returns received from substantial investments. This is evidenced by absence of an IPO in Malawi since November 2008. The listed companies on the Malawi Stock Exchange should adopt substance over form in complying with the listing rules and provide sufficient information to the current and existing investors. Malawi Stock Exchange should enforce compliance of listing rules to bar insiders from participating in IPOs as underwriters to enforce discipline in the sole capital market in Malawi.Malawi’s Capital Market is still too young. There are very few studies undertaken to critically review its performance. It has not been studied widely to assess its strengths and weaknesses. The Listing Rules of the Malawi Stock Exchange require substantial review to meet the demands of the market in the current contemporary times. Malawi Stock Exchange, the only capital market available in Malawi should enforce disclosure of pertinent information from all the listed companies for investment decisions. Malawi Stock Exchange should evaluate the disclosure requirements which must fall in line with the revised International Financial Reporting Standards.
{"title":"Pre and Post Analysis IPO Analysis of TNM Limited – Lessons for Malawi Capital Market","authors":"B. Kampanje","doi":"10.2139/SSRN.2002878","DOIUrl":"https://doi.org/10.2139/SSRN.2002878","url":null,"abstract":"TNM Limited successfully concluded a significant IPO in Malawi in terms of shares offered to the general public. Critical review however reveals that little value was transferred to the general public. The shareholders of the company prior to the IPO instituted mechanisms of amassing substantial benefits from the company by splitting shares of the company so as to secure substantial dividends and capital gains at the expense of prospective investors who would be required to buy very huge number of ordinary shares. This puts off informed investors who look for other attractive investments thereby affecting liquidity in the capital market.There is little investors’ confidence on Malawi Stock Exchange as prospective investors are not interested to participate in an IPO because of low returns received from substantial investments. This is evidenced by absence of an IPO in Malawi since November 2008. The listed companies on the Malawi Stock Exchange should adopt substance over form in complying with the listing rules and provide sufficient information to the current and existing investors. Malawi Stock Exchange should enforce compliance of listing rules to bar insiders from participating in IPOs as underwriters to enforce discipline in the sole capital market in Malawi.Malawi’s Capital Market is still too young. There are very few studies undertaken to critically review its performance. It has not been studied widely to assess its strengths and weaknesses. The Listing Rules of the Malawi Stock Exchange require substantial review to meet the demands of the market in the current contemporary times. Malawi Stock Exchange, the only capital market available in Malawi should enforce disclosure of pertinent information from all the listed companies for investment decisions. Malawi Stock Exchange should evaluate the disclosure requirements which must fall in line with the revised International Financial Reporting Standards.","PeriodicalId":419519,"journal":{"name":"HEC Paris: Tax & Law (Topic)","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126030454","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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