The article analyzes the impact of the new corporate governance standards introduced by the Bucharest Stock Exchange (BVB) Code, which came into force on January 1, 2025, compared to the previous version from 2015. The study places the BVB codes in the context of soft law instruments and the comply or explain principle, discussing both their normative role and their practical effects on issuers. The analysis highlights the main changes brought ...

The study analyzes the new European regulatory framework for payment services (PSD3) using the tools of economic analysis of law. Starting from previous legislative developments, from Directive 2007/64/EC (PSD) and PSD2 to the current proposal for a Regulation, the study highlights the essential changes regarding the liability of payment service providers, particularly in the context of identity fraud (spoofing and phishing). We argue that the...