Oktober 2005
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Markets As Regulators: a Survey
MARKETS AS REGULATORS: A SURVEY STAVROS GADINIS∗ AND HOWELL E. JACKSON† ABSTRACT Stock exchanges around the world have recently discarded their traditional mutual membership structure in favor of a for-profit corporate format. This development increased fears of conflicts of interest, as for- profit exchanges are more sensitive to pressures from their constituents and more likely to abuse their regulatory powers. In this Article, we explore the allocation of regulatory responsibilities to market infrastructure institutions, administrative agencies, and central government entities in the eight most influential jurisdictions for securities regulation in the world. Examining how different jurisdictions answer this question is particularly pressing given the December 2006 transatlantic stock exchange merger activity. After discussing the role of self-regulatory organizations in the oversight of modern stock exchanges, we report the results of a survey of the allocation of regulatory powers in a sample of eight key jurisdictions. In that survey, we examine the allocation of such powers at three levels: rulemaking, monitoring of compliance with these rules, and enforcement of rules violations. Based on our findings, we categorize these jurisdictions in three distinct models of allocation of regulatory powers: a Government-led Model that preserves significant authority for central government control over securities markets ∗ Clark Byse and John M. Olin Fellow, Harvard Law School; S.J.D. Candidate, Harvard Law School. † John S. Reid, Jr. Professor of Law, Harvard Law School. This Article derives from a project the author prepared for the Governance of Infrastructure Institutions in the Financial Markets, undertaken by the Oxford Finance Group and led by Ruben Lee in 2006. -
Markets As Regulators: a Survey
MARKETS AS REGULATORS: A SURVEY STAVROS GAD1NIS* AND HOWELL E. JACKSONt ABSTRACT Stock exchanges around the world have recently discarded their traditionalmutual membership structure in favor of a for-profit corporate format. This development increasedfears of conflicts of interest, as for- profit exchanges are more sensitive to pressures from their constituents and more likely to abuse their regulatory powers. In this Article, we explore the allocation of regulatory responsibilities to market infrastructureinstitutions, administrativeagencies, and centralgovernment entities in the eight most influentialjurisdictions for securities regulation in the world. Examining how different jurisdictions answer this question is particularly pressing given the December 2006 transatlantic stock exchange merger activity. After discussing the role of self-regulatory organizations in the oversight of modern stock exchanges, we report the results of a survey of the allocation of regulatory powers in a sample of eight key jurisdictions. In that survey, we examine the allocation of such powers at three levels: rulemaking, monitoring of compliance with these rules, and enforcement of rules violations. Based on our findings, we categorize these jurisdictions in three distinct models of allocation of regulatory powers: a Government-led Model that preserves significant * Clark Byse and John M. Olin Fellow, Harvard Law School; S.J.D. Candidate, Harvard Law School. t John S. Reid, Jr. Professor of Law, Harvard Law School. This Article derives from a project the author prepared for the Governance of Infrastructure Institutions in the Financial Markets, undertaken by the Oxford Finance Group and led by Ruben Lee in 2006. The analytical framework presented in Part II of this Article and the collection and interpretation of surveys in Appendix A are primarily the work of Mr. -
Roster of Winners in Single-Seat Constituencies No
Tuesday, October 24, 2017 | The Japan Times | 3 lower house ele ion ⑳ NAGANO ㉘ OSAKA 38KOCHI No. 1 Takashi Shinohara (I) No. 1 Hiroyuki Onishi (L) No. 1 Gen Nakatani (L) Roster of winners in single-seat constituencies No. 2 Mitsu Shimojo (KI) No. 2 Akira Sato (L) No. 2 Hajime Hirota (I) No. 3 Yosei Ide (KI) No. 3 Shigeki Sato (K) No. 4 Shigeyuki Goto (L) No. 4 Yasuhide Nakayama (L) 39EHIME No. 4 Masaaki Taira (L) ⑮ NIIGATA No. 5 Ichiro Miyashita (L) No. 5 Toru Kunishige (K) No. 1 Yasuhisa Shiozaki (L) ( L ) Liberal Democratic Party; ( KI ) Kibo no To; ( K ) Komeito; No. 5 Kenji Wakamiya (L) No. 6 Shinichi Isa (K) No. 1 Chinami Nishimura (CD) No. 2 Seiichiro Murakami (L) ( JC ) Japanese Communist Party; ( CD ) Constitutional Democratic Party; No. 6 Takayuki Ochiai (CD) No. 7 Naomi Tokashiki (L) No. 2 Eiichiro Washio (I) ㉑ GIFU No. 3 Yoichi Shiraishi (KI) ( NI ) Nippon Ishin no Kai; ( SD ) Social Democratic Party; ( I ) Independent No. 7 Akira Nagatsuma (CD) No. 8 Takashi Otsuka (L) No. 3 Takahiro Kuroiwa (I) No. 1 Seiko Noda (L) No. 4 Koichi Yamamoto (L) No. 8 Nobuteru Ishihara (L) No. 9 Kenji Harada (L) No. 4 Makiko Kikuta (I) No. 2 Yasufumi Tanahashi (L) No. 9 Isshu Sugawara (L) No. 10 Kiyomi Tsujimoto (CD) No. 4 Hiroshi Kajiyama (L) No. 3 Yoji Muto (L) 40FUKUOKA ① HOKKAIDO No. 10 Hayato Suzuki (L) No. 11 Hirofumi Hirano (I) No. 5 Akimasa Ishikawa (L) No. 4 Shunpei Kaneko (L) No. 1 Daiki Michishita (CD) No. 11 Hakubun Shimomura (L) No. -
JCIE's Annual Report
JAPAN CENTER FOR INTERNATIONAL EXCHANGE 2001–2003 Annual Report GLOBAL THINKNET CIVILNET POLITICAL EXCHANGE PROGRAM TABLE OF CONTENTS President’s Message 2 CivilNet 23 JCIE Activities 5 Promoting Civil Society and Philanthropy 25 The Role of Philanthropy in Postwar U.S.-Japan Global ThinkNet 7 Relations 25 Study and Dialogue Projects 9 GrantCraft—Japanese Video Project 25 APAP Forums and Seminars 9 International Survey Project—The Civil Society Global ThinkNet Conference, Tokyo 10 Sector and NGO Activities in Asia and Europe 26 Intellectual Dialogue on Building Survey on the Status of Exchange Programs Asia’s Tomorrow 10 between the U.S. and Japan 26 A Gender Agenda: Asia-Europe Dialogue 11 Seminar Series with Civil Society Leaders 26 Russia-Japan Policy Dialogue 12 Study Mission on American Philanthropy 27 Cooperation with the Asia Pacific Philanthropy Policy-Oriented Research 13 Consortium (APPC) 27 Vision of Asia Pacific in the 21st Century 13 Facilitating Philanthropic Programs of Asia Pacific and the Global Order Overseas Foundations and Corporations 29 After September 11 13 Levi Strauss Foundation Advised Fund of JCIE 29 The Rise of China and the Changing East Asian Order 14 “Positive Lives Asia” Photo Exhibition Tour 31 Asia Pacific Security Outlook 14 Goldman Sachs Global Leaders Program 31 Force, Intervention, and Sovereignty 15 Lucent Global Science Scholars Program 32 New Perspectives on U.S.-Japan Relations 15 Civil Society and Grassroots-Level Governance for a New Century: Japanese Exchanges 33 Challenges, American Experience 16 A50 Caravan 33 The Future of Governance and the Role Asia Pacific Leadership Program in Tokyo 33 of Politicians 17 Grassroots Network 34 The Transformation of Japanese Communities Miyazaki Prefecture Commemorative and the Emerging Local Agenda 18 Symposiums on Internationalization 34 The Intellectual Infrastructure for East Asian Community-Building 18 Political Exchange Program 35 Support and Cooperation for Research and U.S.-Japan Parliamentary Exchange Program 37 Dialogue 19 U.S. -
J a P O N S K O
J A P O N S K O Souhrnná teritoriální informace za rok 2004 a první polovinu roku 2005 ZÚ Tokio, červen 2005 1. ZÁKLADNÍ INFORMACE O TERITORIU .............................................................6 1.1 Oficiální název státu................................................................................................6 1.2 Rozloha...................................................................................................................6 1.3 Počet obyvatel, hustota na km², podíl ekonomicky činného obyvatelstva.................6 1.4 Roční přírůstek obyvatelstva a jeho demografické složení.......................................6 1.5 Národnostní složení.................................................................................................6 1.6 Náboženství ............................................................................................................6 1.7 Úřední jazyk a ostatní nejčastěji používané jazyky ..................................................6 1.8 Administrativně-správní členění, hlavní město a další velká města..........................6 1.9 Peněžní jednotka a její dělení, používání cizích měn ...............................................7 1.10 Státní svátky, obvyklá pracovní a prodejní doba......................................................7 1.11 Místní zvyklosti důležité pro obchodní kontakty .....................................................7 1.12 Podmínky využívání místní zdravotnické péče českými občany ..............................8 1.13 Víza, poplatky, specifické podmínky -
The Political Economy of Foreign Aid Flows
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by University of Birmingham Research Archive, E-theses Repository Title: The Political Economy of Foreign Aid Flows By JIE SHENG LI A Thesis submitted in fulfilment for the Degree of Doctor of Philosophy Department of Political Science and International Studies School of Government and Society College of Social Sciences University of Birmingham January 2015 University of Birmingham Research Archive e-theses repository This unpublished thesis/dissertation is copyright of the author and/or third parties. The intellectual property rights of the author or third parties in respect of this work are as defined by The Copyright Designs and Patents Act 1988 or as modified by any successor legislation. Any use made of information contained in this thesis/dissertation must be in accordance with that legislation and must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the permission of the copyright holder. Abstract: This thesis examines the rise in bilateral aid disbursements over multilateral aid between 2000 and 2010. It would be simply stated that such a trend would be due donor nations focusing on strategic self interests. I argue, using a combination of principal-agent theory, foreign policy analysis and the effect of institutions, that new political actors in donor nations found a window of opportunity to alter the level foreign disbursements and in several cases, increase the overall level of foreign aid. Bilateral aid eventually rose due to both the worldviews of these new decision makers as well as how their policies were influenced and shaped by local institutions. -
3.1 Development of Science and Technology Policies [PDF:672KB]
3.1 Development of Science and Technology Policies Part 3 discusses the measures adopted in FY2004 March 2001. In response to the comprehensive for the promotion of science and technology, in line strategy, the Cabinet officially launched the Second with the Second Science and Technology Basic Science and Technology Basic Plan (hereinafter Plan. referred to as the “Basic Plan”) on March 30, 2001 after the consultation of the CSTP. 3.1 Development of Science and The Basic Plan was adopted in consideration of Technology Policies the form science and technology should take in the 21st century, and for the comprehensive promotion The Science and Technology Basic Law was of the government’s science and technology promulgated and put into effect on November 15, policies, while also emphasizing the building of a 1995. Based on a recognition of the important role new relationship between science and technology, that science and technology should play in the and society.In this plan, the basic direction of development of Japan’s economy and society, in Japan’s science and technology policy is to have a the improvement of the welfare of the nation, and in clear vision, with three essential qualities the sustainable development of human society, the comprising the basis for being an advanced science- objective of this law is to achieve higher standards and technology-oriented nation, as “a nation of science and technology through the promotion of contributing to the world by the creation and such measures as the implementation of the Science utilization of scientific knowledge,” “a nation with and Technology Basic Plan, etc., for the compre- international competitiveness and the ability for hensive and systematic promotion of science and sustainable development,” and “a nation securing technology. -
Japan Revival Vision
Japan Revival Vision Provisional Translation May 23, 2014 Liberal Democratic Party of Japan Japan Economic Revival Headquarters 1 2 Note: This is only a provisional translation. With regard to any parts that seem unclear, please refer to the original Japanese version. Introduction In December of 2012, the Liberal Democratic Party returned to power with Prime Minister Abe in the lead, based on the slogan “Take Back Japan”. After the bubble burst, Japan had experienced a “Lost Two Decades” of long-term economic slump and deflation. Furthermore, stagnation escalated following the “Lehman Shock”, partly due to the deficient economic policies of the new government established after the LDP lost power. However, after the launch of the second Abe Cabinet, as a result of releasing what is known as the “Three Arrows,” domestic and international perceptions of Japan’s economic prospects significantly improved. This was reflected in the rapid rise of stock prices last year. The first arrow was aggressive monetary easing; the second arrow, flexible fiscal policy; and the third arrow, released in June of last year, was the Japan Revitalization Strategy, “Japan is Back”. According to the Tankan (the Bank of Japan’s quarterly economic survey) published in December of last year, for the first time in 21 years and 10 months, the Business Sentiment Diffusion Index turned positive for small and medium-sized enterprises in the non-manufacturing sector, which had been suffering from a long-term slump. Moreover, real GDP for the first quarter of this year grew as much as 5.9% on an annual basis, although this was buoyed in part by rush-demand before the increase of the consumption tax rate. -
Mansfield Fellows and Their Insights on U.S.-Japan Relations
The Maureen and Mike Mansfield Foundation Unique Experiences, Unique Perspectives Mansfield Fellows and Their Insights on U.S.-Japan Relations he Maureen and Mike Mansfield Foundation honors Mike Mansfield (1903–2001), Ta remarkable public servant, statesman and diplomat who played a pivotal role in many key domestic and international issues of the 20th century as U.S. congressman from Montana, Senate majority leader, and finally as U.S. ambassador to Japan. The Maureen and Mike Mansfield Foundation was created in 1983 to advance Maureen and Mike Mansfield’s life-long efforts to promote understanding and cooperation among the nations and peoples of Asia and the United States. The Foundation sponsors exchanges, dialogues and publications that create networks among U.S. and Asian leaders, explore important policy issues, and increase awareness of Asia in the U.S. The Mansfield Foundation’s geographic focus is Northeast Asia and India as it relates to that region. The Foundation receives support from individuals, corporations and philanthropic organizations. It also provides support to The Maureen and Mike Mansfield Center at The University of Montana. The Maureen and Mike Mansfield Foundation 1401 New York Avenue, NW Suite 740 Washington, D.C. 20005-2102 Phone: 202 . 347. 1994 Fax: 202 . 347. 3941 E-mail: [email protected] www.mansfieldfdn.org The Maureen and Mike Mansfield Foundation, Washington, D.C. © 2013 by The Maureen and Mike Mansfield Foundation www.mansfieldfdn.org All rights reserved. Published in the United States of America Library of Congress Control Number: 2012954958 Unique Experiences, Unique Perspectives Mansfield Fellows and Their Insights on U.S.-Japan Relations www.mansfieldfdn.org 2 Contents Preface David Boling Deputy Executive Director, The Maureen and Mike Mansfield Foundation . -
Guía País JAPÓN
Guía País JAPÓN Elaborada por la Oficina Económica y Comercial de España en Tokio Actualizada a Julio, 2005 1. INTRODUCCIÓN 4 1.1. Situación, superficie y clima 4 1.2. Demografía y sociedad 4 1.3. Breve referencia histórica 5 2. ESTRUCTURA POLÍTICO-ADMINISTRATIVA 6 2.1. Sistema político 6 2.1.1. Gobierno 7 2.1.2. Partidos políticos y actividad parlamentaria 8 2.2. Sector Público 8 2.2.1. La organización administrativa del Estado 8 2.2.2. La Administración Económica y Comercial 9 2.2.3. El Banco Central 10 2.2.4. Empresas Públicas 10 3. ESTRUCTURA ECONÓMICA 11 3.1. Sector Primario 11 3.2. Sector Secundario 12 3.3. Sector Terciario 14 3.4. Estructura empresaria 15 3.5. Sistema Financiero 16 3.6. Sector Exterior 17 4. MARCO PARA LA ACTIVIDAD COMERCIAL 18 4.1. Régimen de comercio exterior. Importaciones y Exportaciones 18 4.2. Regulación de Cobros y Pagos con el exterior 18 4.3. Legislación sobre contratación pública. Criterios de Adjudicación de Contratos Públicos 19 4.4. La Distribución Comercial: Estructura y marco legal 19 5. MARCO PARA LA INVERSIÓN 19 5.1. Legislación sobre Inversiones Extranjeras 20 5.2. Legislación mercantil 20 5.3. Legislación fiscal 21 5.4. Legislación laboral 23 5.5. Legislación sobre propiedad intelectual 24 5.6. Costes de establecimiento: de personal, alquileres, suministros y otros 24 6. INFORMACIÓN DE CARÁCTER PRÁCTICO 25 6.1. Formalidades de entrada y salida 25 6.2. Horario local y días festivos 25 6.3. Condiciones climáticas 26 6.4. -
Mike Mansfield Fellowships
The Maureen and Mike Mansfield Foundation THE MIKE MANSFIELD FELLOWSHIPS Advancing Understanding and Cooperation in U.S.-Japan Relations Washington, DC • Tokyo, Japan • Missoula, Montana • www.mansfieldfellows.org “...knowledge is essential for acceptance and understanding. By examining the political heritage, the economic experience, and even the national myths that tie people together; by exploring the cultural, religious, and social forces that have molded a nation, we can begin to better understand each other and contribute to the knowledge and understanding that will strengthen our ties of friendship and lead to a better world.” —Mike Mansfield “…a vigorous program of exchanges is the surest way, over the long term, to build a true community of Asia Pacific nations.” —Mike Mansfield This program is sponsored by the U.S. Department of State with funding provided by the U.S. Government and administered by the Maureen and Mike Mansfield Foundation. 1 Celebrating 25 Years of The Mike Mansfield Fellowships “It has long been evident that the U.S.-Japan relationship has far-reaching consequences not only for the Pacific region but also for other parts of the world. In establishing the Mike Mansfield Fellowships, the U.S. Congress has taken an important step toward developing a new generation of government officials with a deeper understanding of Japan and close working relationships with Japanese officials. With the strong support of the government of Japan, the Mansfield Fellowship Program gives U.S. government officials a unique opportunity to learn about Japan and its government from the inside. We are pleased to see that U.S. -
Intellectual Property Strategic Program 2005
Intellectual Property Strategic Program 2005 June 10, 2005 Intellectual Property Policy Headquarters Intellectual Property Strategic Program 2005 Table of Contents General 1 1. Philosophy of Intellectual Property Policy 1 2. Policy for Making Japan an Intellectual Property-based Nation 6 3. Progress in Intellectual Property Policy 10 4. Development and Implementation of Intellectual Property Strategic Program 2005 15 Chapter 1 Creation of Intellectual Property 17 1. Promoting the Creation of Intellectual Property at Universities and Other Institutes 17 (1) Promoting the Establishment of Consolidated Management 17 1) Encouraging the development of rules according to the principle of consolidated 17 2) Giving due consideration to the mobility of researchers in developing 19 (2) Strengthening Comprehensive Systems for Intellectual Property 19 1) Strengthening University Intellectual Property Headquarters 20 2) Strengthening TLOs 21 3) Enhancing information on human resources related to intellectual property 21 4) Supporting the development of dispute settlement systems 21 5) Clearly indicating liaisons 22 6) Evaluating University Intellectual Property Headquarters and TLOs 22 7) Encouraging universities to disclose information on intellectual property-related 23 activities 8) Strengthening cooperation among University Intellectual Property Headquarters and 23 TLOs (3) Increasing Funds for Intellectual Property-Related Activities 24 (4) Giving Due Consideration to Intellectual Property-related Activities in Evaluating 25 Universities and