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Updated: Sept. 17, 2012 (Initial publication: Sept. 11, 2012)

Breaking news

The German Land of Schleswig-Holstein has issued September 3, 2012 new licenses online games, despite its change of Government

Germany is characterized in that in Europe generally has refused liberalization of the gambling industry. For this, it will incur remonstrance’s from the European Commission. But this issue is the responsibility of the Länder. That is why, when the Land of Schleswig-Holsteing decided in April 2011 to open the sector to competition online games, Everyone saw a sign of liberalism and compliance with European lines. But the government of this land has changed in May 2012 to make way for a coalition, it seems more favorable to a closure of that activity or, at lesse, should be left to public monopolies. However, on September 2, 5 licenses are to be given by that Government to the major operators of online games, which shows that the line previously adopted market-opening games online is maintained, unlike the rest of the Germany.

Updated: Dec. 15, 2011 (Initial publication: Nov. 29, 2011)

Authors

SÈVE, René

René Sève is a graduate of the Ecole Normale Supérieure, holds an agrégation in philosophy, and a doctorate degree in Law. He also has advanced postgraduate degrees in Philosophy, Social Psychology, and Law. (...)

Updated: Sept. 10, 2012 (Initial publication: Sept. 2, 2012)

Breaking news

On August 24, 2012, Reuters news agency reported the amicable proceedings of Royal Bank of Scotland to obtain a transaction in the case of the Libor.

The Royal Bank of Scotland (RBS) is a British Bank controlled to 80% by the State. It is said involved in the case of the Libor. On August 24, 2012, Reuters news agency reported links between the Royal Bank of Scotland (RBS) and the British and North American regulators to stop the intended prosecution through a settlement. The interest is not in the subject of the announcement, but in the formulation. Indeed, the Bank denies the existence of this mutual understanding. Less than a month ago, it claimed that it would face prosecution and a few weeks ago, it claimed that it could be actions of traders and not its own, taken as operators. Today, these are lawyers who reveal the strategy of negotiations with the regulator. Thus, what made the right hand of the Bank, the left hand of the Bank ignores it and can do something else; the essential was to reassure the market.

Updated: Oct. 27, 2011 (Initial publication: Oct. 27, 2011)

Authors

PRADA, Michel

Michel Prada is a graduate of the Institut d’Etudes Politiques de Bordeaux (Sciences Po Bordeaux) and the Ecole Nationale d’Administration (ENA). From 1966 to 1970, he was an Inspecteur des Finances. (...°

Updated: Aug. 28, 2012 (Initial publication: Aug. 23, 2012)

Breaking news

On August 3, 2012, the Royal Bank of Scotland attributed to individual behaviour the breaches to the rules of operation of the Libor.

Libor is the rate of Exchange on the interbank market, important in that and also in what it's on the Libor rate that thousands of external financial transactions in interbank relations are based. In this manipulations on the Libor operated by banks are properly catastrophic. What can therefore be a disaster was opened with the sanction of Barclays on 27 June 2012 by the British Financial Services Authority (FSA) for manipulation. Investigations are underway, on multiple grounds, by many authorities on multiple grounds. The statement made on August 3, 2012 by the Royal Bank of Scotland is interesting in that, in the same time that it dismiss them, it said that manipulations that could discover in it are attributable to individuals and only to them. The system was thus not fraudulent. Therefore the declaratory system could be saved.

Updated: May 29, 2012 (Initial publication: May 21, 2012)

Breaking news

The North American Senate approves the appointment by the President of the United States of two new members of the US Federal Bank, appointments that it blocked so far.

The Executive Board of Governors of the North America Federal Bank had only four governors on seven seats established. But two people, Jerome Powell (Banker), and Jeremy Stein (Economist) appointed by the President of the United States Barak Obama, could not take their function, because their appointment in December 2011, was not approved by the Senate. It was enough that two parties will disagree with each other, while Mr. Powell is Republican and Mr. Stein is democratic, to paralyse the whole because of the willingness of opposition of the Republican Senator David Vitter. The JP Morgan case led the two parties to an arrangement and the appointments were approved by the Senate on May 18, 2012.

Updated: Oct. 7, 2011 (Initial publication: March 24, 2011)

Authors

CUOCOLO, Lorenzo

Lorenzo Cuocolo is Professor of Comparative Public Law at Bocconi University in Milan. He holds a doctorate in Constitutional Law at the University of Genoa. He has been visiting research scholar at NYU Law School and Sciences Po Paris. (...)

United States of America

Federal Housing Finance Agency

The Housing and Economic Recovery Act of 2008 gave FHFA the authorities necessary to oversee vital components of USA’secondary mortgage markets – Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. FHFA’s mission is to provide effective supervision, regulation and housing mission oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks to promote their safety and soundness, support housing finance and affordable housing, and support a stable and liquid mortgage market.

Updated: Jan. 10, 2012 (Initial publication: Jan. 10, 2012)

Authors

FISHMAN, Todd

Todd is a litigation partner in Allen & Overy’s New York office, where he has represented financial institutions, companies, law firms and senior executives in a wide range of complex commercial, regulatory and criminal matters. (...)

Updated: May 9, 2012 (Initial publication: April 14, 2012)

Breaking news

Bioethics versus Innovation: the European Court of Justice (ECJ) restricted the patentability of the uses of stem cells

The European Directive of 6 July 1998 on the legal protection of biotechnology inventions excludes the human embryo of the mechanism of the patent. A patent is filed in Germany on purified brain stem cells. German Federal Patent Court cancels the patent, because it would be on the human being. The one who filed the patent appeals, arguing that a text that refuses the patentability of the embryo is not about stem cells. Asked for a preliminary ruling by the National Court, the European Court of Justice (ECJ) delivers, in a Grand Chamber a judgment on October, 18 2011, asking that the Directive by designating the human embryo has designated the mechanisms of cell division. This extensive conception leaves a possible place for the stem cells. They can therefore be also excluded from patentability.
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