This paper investigates whether securities class actions (SCAs) can play a role in banking supervision, both as a warning signal of insolvency and as an instrument of market discipline to encourage bank managers to carefully evaluate risk. Two groups of US banks are compared over the 2000â2008...

After the 2008 Financial Meltdown, the need to reconsider the separation between commercial banking and other financial risky activities—ring fencing—in order to mitigate systemic risks and to address the too big to fail problems was publicly recognized both in the USA and in Europe. In...

In 2005 the European Commission has adopted the so called Third Directive on Anti-Money Laundering (AML), which was to be implemented into the national laws at the latest in December 2007. The key feature that characterizes the Third Directive is the idea that the regulatory framework should be...

The entire system of legal remedies rests on the decision of prospective plaintiffs to commence actions before a court. This study focuses on how both plaintiffs’ beliefs and legal precedent affect access to justice. In turn, actual accesses to the judiciary result in judicial decisions, and...

It is generally agreed that the conviction of an innocent person (type-I error) should be avoided even at the cost of allowing a certain number of acquittals of criminals (type-II error). The high standard of evidence that is usually required in criminal procedure reflects this principle....

This paper presents a simple model of disputes resolution both from a macro-perspective (social planner's problem) and from a micro-perspective (parties' choice). Furthermore, it analyzes the effects of a number of policies on: a) victim's access to justice, b) parties' choice between settlement...

Summary Comparing the impact of different types of credit on households' investment in Bangladesh, we find that loans from microfinance institutions are likely to be channeled toward non-agricultural activities while both informal and bank lending are associated to a higher expenditure in...