European Securities Law is a comprehensive, practical guide to the law and regulations that govern Europe's capital markets. This work provides a practical guide to the application of the key EU Directives in the context of day-to-day corporate transactions, with a particular focus on practical issues arising as a result of the implementation of the key EU Directives among EU member states. The work begins with a critical overview of the key legislation, including the Prospectus Directive, the Transparency Directive, the Takeover Directive, the Market Abuse Directive and MiFID. This is followed by an examination of common types of securities transactions, including equity offerings, debt offerings and programmes, private placements, takeovers and stakebuilding. A separate chapter is devoted to a discussion of liabiliity for London listings. Finally, the text provides a country-by-country analysis of specific issues that arise in 14 of the most significant member states. Written by an expert contributor team from across the EU, European Securities Law is an invaluable source of practical know-how about the regulation and operation of the securities markets in Europe.
Table of Contents
PART I ; The European Directives relating to Issue and Trading of Securities ; 1. Introduction ; 2. Overview ; 3. Disclosure - Initial and Ongoing ; 4. Investor Protection ; 5. Some Conclusions ; PART II ; Doing Deals in Europe ; 6. Equity Offerings ; 7. Debt Offerings and Programmes ; 8. Private Placements in Europe and the US ; 9. Liability for London Listing ; 10. Takeovers and Stakebuilding ; 11. Special Considerations for Non-EU Issuers ; PART III ; Member State Regulation ; 12. Austria ; 13. Belgium ; 14. Denmark ; 15. Finland ; 16. France ; 17. Germany ; 18. Ireland ; 19. Italy ; 20. Luxembourg ; 21. The Netherlands ; 22. Portugal ; 23. Spain ; 24. Sweden ; 25. UK
Raj S. Panasar is a partner at Cleary Gottlieb Steen & Hamilton LLP. His 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 the Corporate Department of Cravath, Swaine & Moore LLP in London. His general corporate practice covers capital markets, including global public offerings, U.S. listings and leveraged acquisition financings, as well as mergers and acquisitions. He represents several of Cravath's clients in Europe, South Africa and India. Philip is a Co-Chairman of the International Bar Association's Securities Regulation Subcommittee, and a regular speaker at the PLI's Annual Institute on Securities Regulation in Europe.