The international financial crisis in the 2008-2010 period has had significant consequences within the European Union member states. The spillover effects of the financial crisis were also based on the deficiencies in the stock market regulation. As a result, a new European Directive had to be adopted in order to correct the legislative gaps in an area characterized by high dynamism.The adoption of MiFID II in 2014 pursued a number of o...

Stock markets are seen as a real barometer of economic development. According to this assumption, the reclassification of the Romanian stock market from Frontier to Emerging market is based on one hand, on the listing of significant issuers, on their liquidity, but on the other hand on the strengthening of the legal framework that governs the stock market. The recognition of the relevance of the stock market for the economy is linked to the hig...

In a comparative approach the paper deals with share repurchase as a manner of profit distribution and corporate governance dilemmas raised when a company elects this method for profit distribuiton. In case of American companies, share repurchases are a common practice, but it is arguable that it is able to ensure a fair treatment among different categories of shareholders and between shareholders and stakeholders. A fraudulent utilisation of sh...

This study aims to examine the current state of national regulations on insider information, as well as their legal status. The highly technical nature of this study compels us to explain and analyze, at the same time, some key concepts for understanding the subject.Without trying to fully investigate the subject matter, the paper starts with an overview of the American background which created for the first time the need to regulate the ...