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 numb...

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 ...

Tort liability in the capital markets field for failure to comply with the transparency obligations set out in regulations is currently a mostly theoretical topic of research as cases involving such liability are not brought to court because of various reasons, one of which being the lack of clarity and efficiency of the Romanian legislation in this field. Although failure to comply with the transparency obligations is not a rare occur...

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 regula...