The European Commission followed the impulse from G20 for a coordinate response to the financial crisis by adopting a proposal for a Directive to mandate the clearing of suitable classes of OTC derivatives (the so-called EMIR proposal) and a proposal on alternative investment funds (AIFMD)....

This work seeks to identify, in light of the main schools of thought within the field of Law and Economics, some useful criteria for optimal discipline of ultrahazardous activities. From that perspective, we examine potential solutions described by Shavell, Landes and Posner, by Dari-Mattiacci...