DOCSLIB.ORG

Corporate Governance 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Corporate Governance 2020 Corporate Governance 2020 A practical cross-border insight into corporate governance law 13th Edition Featuring contributions from: Advokatfirmaet BAHR AS Hannes Snellman Attorneys Ltd Olivera Abogados Al Hashmi Law Herbert Smith Freehills Pinsent Masons LLP Arthur Cox Houthoff Schoenherr Rechtsanwälte GmbH Baker McKenzie Lacourte Raquin Tatar SZA Schilling, Zutt & Anschütz Rechtsanwaltsgesellschaft mbH Bowmans Law Firm Neffat Tian Yuan Law Firm Cravath, Swaine & Moore LLP Lenz & Staehelin Uría Menéndez Creel Abogados, S.C. Macfarlanes LLP Wachtell, Lipton, Rosen & Katz Cyril Amarchand Mangaldas Mannheimer Swartling Advokatbyrå Walalangi & Partners (in association with Davis Polk & Wardwell LLP Marsh & McLennan Companies Nishimura & Asahi) Ferraiuoli LLC Nielsen Nørager Law Firm LLP Wolf Theiss GSK Stockmann Nishimura & Asahi Zunarelli – Studio Legale Associato Table of Contents Expert Chapters Title TBC 000 Sabastian V. Niles, Wachtell, Lipton, Rosen & Katz Dual-Class Share Structures in the United States 000 George F. Schoen & Keith Hallam, Cravath, Swaine & Moore LLP Legal Liability for ESG Disclosures – Investor Pressure, State of Play and Practical Recommendations 000 Katherine J. Brennan & Connor Kuratek, Marsh & McLennan Companies Joseph A. Hall & Betty Moy Huber, Davis Polk & Wardwell LLP Corporate Governance for Subsidiaries and Within Groups 000 Martin Webster & Tom Proverbs-Garbett, Pinsent Masons LLP Global Transparency Trends and Beneficial Ownership Disclosure 000 Nancy Hamzo, Bonnie Tsui, Olivia Lysenko & Paula Sarti, Baker McKenzie Q&A Chapters Australia Japan 000 Herbert Smith Freehills: Quentin Digby & 000 Nishimura & Asahi: Nobuya Matsunami & Philip Podzebenko Kaoru Tatsumi Austria 000 Luxembourg Schoenherr Rechtsanwälte GmbH: 000 GSK Stockmann: Dr. Philipp Moessner & Christian Herbst & Roman Perner Anna Lindner China 000 Mexico Tian Yuan Law Firm: Raymond Shi 000 Creel Abogados, S.C.: Carlos Creel C., Gustavo Struck & Ilse Bolaños Czech Republic 000 Wolf Theiss: Jitka Logesová, Robert Pelikán, Radka Netherlands Václavíková & Kateřina Kulhánková 000 Houthoff: Alexander J. Kaarls Denmark 000 Norway Nielsen Nørager Law Firm LLP: 000 Advokatfirmaet BAHR AS: Svein Gerhard Simonnæs Peter Lyck & Thomas Melchior Fischer & Asle Aarbakke Finland Oman 000 Hannes Snellman Attorneys Ltd: 000 Al Hashmi Law: Omar Al Hashmi & Syed Faizy Ahmad Klaus Ilmonen & Lauri Marjamäki Poland France 000 000 Lacourte Raquin Tatar: Serge Tatar & Wolf Theiss: Maciej Olszewski, Joanna Wajdzik, Guillaume Roche Monika Gaczkowska & Izabela Podleśna Puerto Rico Germany 000 000 SZA Schilling, Zutt & Anschütz Ferraiuoli LLC: Fernando J. Rovira-Rullán & Rechtsanwaltsgesellschaft mbH: Andrés I. Ferriol-Alonso Dr. Christoph Nolden & Dr. Michaela Balke Romania 000 India Wolf Theiss: Ileana Glodeanu, Mircea Ciocirlea, 000 Cyril Amarchand Mangaldas: Cyril Shroff & Amita Luciana Tache & George Ghitu Gupta Katragadda Slovenia 000 Indonesia Law Firm Neffat: Leonardo Rok Lampret & 000 Walalangi & Partners (in association with Nishimura Domen Neffat & Asahi): Andhika Indrapraja, Femalia Indrainy Kusumowidagdo & Raditya Pratamandika Putra South Africa 000 Bowmans: Ezra Davids, Ryan Kitcat & Lauren Midgley Ireland 000 Arthur Cox: Brian O’Gorman & Michael Coyle Spain 000 Uría Menéndez: Eduardo Geli & Ona Cañellas Italy 000 Zunarelli – Studio Legale Associato: Sweden Luigi Zunarelli & Lorenzo Ferruzzi 000 Mannheimer Swartling Advokatbyrå: Patrik Marcelius & Isabel Frick Table of Contents Q&A Chapters Continued Switzerland USA 000 Lenz & Staehelin: Patrick Schleiffer & Andreas von 000 Wachtell, Lipton, Rosen & Katz: Planta Sabastian V. Niles United Kingdom Uruguay 000 Macfarlanes LLP: Tom Rose & Dominic Sedghi 000 Olivera Abogados / IEEM Business School: Juan Martin Olivera 220 Chapter Number Switzerland Switzerland Patrick Schleiffer Lenz & Staehelin Andreas von Planta 1 Setting the Scene – Sources and ■ Directive on Information relating to Corporate Governance (SIX-DCG) of the SIX Swiss Exchange, which requires Overview issuers whose equity securities have their primary or main listing on the SIX Swiss Exchange to disclose in their 1.1 What are the main corporate entities to be annual reports certain information on the group and capital discussed? structure, shareholders (including their participation rights), board of directors and executive board (including The companies covered in the answers below are organised as their compensation as well as share and option plans), the stock corporations. control mechanisms and defence measures in the case of control changes, as well as auditors and information policy. ■ Directive on the Disclosure of Management Transactions 1.2 What are the main legislative, regulatory and other (SIX-DMT) of the SIX Swiss Exchange which requires sources regulating corporate governance practices? issuers whose equity securities have their primary listing on the SIX Swiss Exchange to disclose transactions in the The primary sources of law relating to corporate governance in company’s own shares and related instruments by members Switzerland are the following: of the board of directors and the executive board. ■ Swiss Federal Code of Obligations (CO), in particular Art. ■ Swiss Code of Best Practice for Corporate Governance 620 et seq., which govern stock corporations. These rules (SCBP) issued by economiesuisse, the largest umbrella are in part mandatory and in part non-mandatory, and organisation representing the Swiss economy in apply (with exceptions) to any Swiss corporation, whether Switzerland, which sets corporate governance standards in privately held or listed on a stock exchange. The provi- the form of non-binding recommendations, primarily for sions governing stock corporations are currently being public Swiss companies. revised (see question 1.3). In addition, companies have articles of association and ■ Swiss Ordinance against Excessive Compensation with internal organisational regulations which, within the limits of respect to Listed Companies (OaEC), which implements the law, may provide for additional rules in the area of corpo- provisions of the Swiss Federal Constitution resulting rate governance. from the affirmative vote of the Swiss people on 3 March Special or different rules on corporate governance exist in 2013 on the so-called Minder Initiative. The OaEC Switzerland for banks and insurance companies as well as for entered into force on 1 January 2014 and will apply until investment companies with variable capital (SICAV) or fixed the revised provisions of the CO governing stock corpo- capital (SICAF) within the meaning of the Swiss Federal Act on rations which will incorporate the provisions of the OaEC Collective Investment Schemes (CISA). Particularly noteworthy enter into effect (see question 1.3). are the Circular on Corporate Governance, Risk Management ■ Swiss Federal Act on Financial Market Infrastructures and Internal Controls relating to Banks and the Circular on and Market Conduct in Securities and Derivatives Trading Corporate Governance, Risk Management and Internal Audit (FMIA) and its implementing ordinances which contain, for Insurance Companies issued by the Swiss Financial Market inter alia, rules regarding the disclosure of significant Supervisory Authority (FINMA). Further, FINMA has issued shareholdings, and public takeover offers with respect to a circular on minimum standards for remuneration schemes Swiss companies listed on a stock exchange in Switzerland of financial institutions (the FINMA Remuneration Circular) or non-Swiss companies having their primary listing in defines minimum standards with respect to the remuneration Switzerland. principles within banks, securities firms, insurance compa- ■ Listing rules of the SIX Swiss Exchange (Listing Rules), nies, fund management companies, asset managers of collective the most important trading venue in Switzerland, and the investment schemes and other institutions requiring a licence implementing directives and circulars which contain, inter from FINMA under the CISA (see question 3.3). alia, periodic financial reporting and other continuing and ad hoc reporting rules applying to companies whose shares are listed on the SIX Swiss Exchange. The SIX Swiss 1.3 What are the current topical issues, developments, trends and challenges in corporate governance? Exchange holds the status of a self-regulatory trading venue under the FMIA. The financial crisis and the subsequent economic downturn not only fuelled public discussion on corporate governance topics Corporate Governance 2020 Lenz & Staehelin 221 like management compensation, transparency and shareholder Following the entry into force of the OaEC, the importance rights, but also increased demand on the political and regulatory of proxy advisors has increased significantly, and questions have level for stricter rules for banks and other financial institutions been raised regarding the independence of proxy advisors in in particular, in addition to other public companies. case they render services both to investors (shareholders) and to In March 2013, the Swiss people and cantons accepted the issuers against payment. The SIX Swiss Exchange has started Minder Initiative, a popular initiative originally submitted in a project to introduce specific transparency rules dealing with 2008. The initiative introduces two new paragraphs in the proxy advisors which also advise issuers. Swiss Federal Constitution that provide for relatively general principles on the corporate governance regime
Load more

Recommended publications
  • Stuart Brisley Cv
    STUART BRISLEY CV Born 1933, Surrey, England. Education 1960-1962 Florida State University, Tallahassee (on a Fulbright Travel Award) 1959-1960 Akademie der Bildende Künste, Munich (on a Bavarian State Scholarship) 1956-1959 Royal College of Art, London 1949-1954 Guildford School of Art Selected Solo Exhibitions 2016 Interregnum, Galeria Jaqueline Martins, Sao Paulo From the Georgiana Collection, Hales Gallery, London Drawn, David Roberts Art Foundation, London 2015 Stuart Brisley, Headwinds, MAC Belfast, Northern Ireland A new sound work for Belfast, Belfast 2014 Stuart Brisley, State of Denmark, Modern Art Oxford, England Breath, a new performance, Royal Academy Life Rooms 2013 Stuart Brisley, Domobaal, London, England Stuart Brisley, Mummery+Schnelle, London, England Back to the future: solo stand at Artissima, Torino, Italy Before the Mast, 10 day performance, domobaal 2013 2012 Stuart Brisley, Exile Gallery, Berlin, Germany Next Door (the missing subject), PEER, London, England 2011 Stuart Brisley, Algus Greenspon, New York, USA 2010 Measurement and Division, Exile Gallery, Berlin, Germany Next Door (the missing subject), PEER London 2009 Stuart Brisley: Recent Works, England & Co, London, England London, 7 Bethnal Green Road, E1 6LA. + 44 (0)20 7033 1938 New York, 64 Delancey Street, NY 10002. + 1 (646) 918-7205 www.halesgallery.com @halesgallery 2008 Crossings, John Hansard Gallery, Southampton, England. Touring Tallinn City Art Gallery, Tallinn, Estonia (2009) 2006 Stuart Brisley 1958-2006, England & Co, London 2004 The UK Museum
    [Show full text]
  • Appendix 1 the World of Cinema in Argentina
    Appendix 1 The World of Cinema in Argentina A revelation on January 17, 2002. I am headed to the Citibank on Cabildo Street, where I have a savings account. I try to enter the bank but cannot because of the number of people waiting. So I give up on my errand. I cross the street to return home, and from the sidewalk facing the bank I see, for the first time, the building in which it is housed. The familiar is made strange; shortly after, it becomes familiar again, but in a slightly disturbing way. I recognize the building’s arches and moldings, its fanciful rococo façade. I recognize the Cabildo movie theater, in which I saw so many movies as an adolescent. Although I have been coming to this bank for years, I have never before made this connection. I know movie theaters that have been transformed into video arcades, into evangelical churches,1 into parking garages, even into bookstores. Yet I knew of none that had become a bank. All my savings were housed in a space that had been shadows, lights, images, sounds, seats, a screen, film. I remember that around the age of sixteen, I saw Robert Redford’s Ordinary People (1980) on the same day as Alain Resnais’ Last Year at Marienbad (1961) in the Hebraica theater. Two or three movies a day (video didn’t exist then) in which almost everything was film, film, and only film. These are the adolescent years in which cinephilia is born: a messy love, passionate, without much judgment.
    [Show full text]
  • Cultural Diversity in the German Motion Picture Industry – the Case Study of the World Cinema Fund
    Faculty of History and Arts MA Cultural Economics and Cultural Entrepreneurship 2009/2010 Cultural Diversity in the German Motion Picture Industry – the Case Study of the World Cinema Fund Master’s Thesis Eva Joanna Kocula Student No. 338156 Thesis’ Supervisor: Erwin DEKKER Second Reader: Dr. Christian HANDKE Rotterdam, 31 July 2010 Eva Joanna Kocula LIST OF CONTENTS LIST OF TABLES .................................................................................................................... iv LIST OF FIGURES.................................................................................................................... v LIST OF APPENDICES ............................................................................................................ v ABSTRACT.............................................................................................................................. vi INTRODUCTION...................................................................................................................... 1 CHAPTER 1: THE DEBATE ON CULTURAL DIVERSITY................................................. 6 The Concept of Diversity.................................................................................................. 7 Economic Perspective on the Issue of Diversity .............................................................. 8 Government Intervention and the Protection of Cultural Diversity ............................... 11 Cultural Diversity as a Subject to Legal Regulation......................................................
    [Show full text]
  • The New Global Journalism
    3 Tow Center for Digital Journalism THE NEW A Tow/Knight Report GLOBAL JOURNALISM: FOREIGN CORRESPONDENCE IN TRANSITION KELLY GOLNOUSH NIKNEJAD ANUP KAPHLE AHMED AL OMRAN BURCU BAYKURT AND JESSIE GRAHAM EDITED BY: ANN COOPER AND TAYLOR OWEN Funded by the Tow Foundation and the John S. and James L. Knight Foundation 5 Acknowledgments Special thanks to The John S. and James L. Knight Foundation, The Tow Foundation, and the team from the Tow Center for Digital Journalism at the Columbia University Graduate School of Journalism. Our gratitude to Andy Carvin and Charles Sennott for valuable guidance, and to Abigail Ronck for copy editing this Tow/Knight brief. Without all of your support this project would not have been possible. – Ann Cooper and Taylor Owen, September,2014 Contents Introduction 9 The Virtual Eyewitness . 13 The Foreign Desk in Transition . 14 Eight Tactics for the Digital Foreign Correspondent . 14 David Versus Goliath . 15 A Professional Kinship: Journalism and Advocacy . 15 Being There: The Virtual Eyewitness 17 “The Tremor in the Air” . 20 The Price of Access . 21 Going Vertical . 25 Toolkit Nuts and Bolts . 26 More Left Undone . 30 A Toolkit: Eight Tactics for the Digital Foreign Correspondent 33 Tactic 1: Follow the Experts . 37 Tactic 2: Know Local Digital Customs . 38 Tactic 3: Use Data Management Tools . 39 Tactic 4: Corroborate Before You Go Public . 40 Tactic 5: Pick Up The Telephone . 42 Tactic 6: Own Your Errors . 45 Tactic 7: Keep Your Sources Safe . 46 Tactic 8: Remember That Everything Changes . 48 The Foreign Desk in Transition: A Hybrid Approach to Reporting From There–and Here 49 Shuttered Bureaus .
    [Show full text]
  • The Cultural Labors of Science, Fiction, and Empire
    UNIVERSITY OF CALIFORNIA, SAN DIEGO Speculative Acts: The Cultural Labors of Science, Fiction, and Empire A dissertation submitted in partial satisfaction of the requirements for the degree Doctor of Philosophy in Literature by Aimee Soogene Bahng Committee in charge: Professor Shelley Streeby, Chair Professor Lisa Cartwright Professor Lisa Lowe Professor Roddey Reid Professor Winifred Woodhull 2009 Copyright Aimee Soogene Bahng, 2009 All rights reserved. The Dissertation of Aimee Soogene Bahng is approved, and it is acceptable in quality and form for publication on microfilm and electronically: Chair University of California, San Diego 2009 iii This dissertation is dedicated to Octavia Butler June 22, 1947 – February 25, 2006 iv EPIGRAPH “We caused the problems: then we sat and watched as they grew into crises. I have heard people deny this, but I was born in 1970. I have seen enough to know that it is true. I have watched education become more a privilege of the rich than the basic necessity that it must be if civilized society is to survive. I have watched as convenience, profit, and inertia excused greater and more dangerous environmental degradation. I have watched poverty, hunger, and disease become inevitable for more and more people.” --Octavia Butler, Parable of the Talents v TABLE OF CONTENTS Signature Page……………………………………………………………………. iii Dedication………………………………………………………………………... iv Epigraph………………………………………………………………………….. v Table of Contents………………………………………………………………… vi List of Figures…………………………………………………………………….. viii Acknowledgements………………………………………………………………. ix Curriculum Vitae…………………………………………………………………. xv Abstract…………………………………………………………………………... xviii INTRODUCTION………………………………………………………………. 1 Science Fiction and Empire……………………………………………………. 1 The “Hard” and “Soft” of Science Fiction………………………………........... 8 On Speculation………………………………………………………………... 10 Postcolonial Speculative Fiction: Subaltern Space Travelers…………………... 14 The Political Economy of Speculation and Technologies of Fictitious Capital………………………………………………………………..........
    [Show full text]
  • The Approximate K-List Problem
    The Approximate k-List Problem Leif Both and Alexander May Horst Görtz Institute for IT-Security Ruhr-University Bochum, Germany Faculty of Mathematics [email protected], [email protected] Abstract. We study a generalization of the k-list problem, also known as the General- ized Birthday problem. In the k-list problem, one starts with k lists of binary vectors and has to find a set of vectors – one from each list – that sum to the all-zero target vector. In our generalized Approximate k-list problem, one has to find a set of vectors that sum to a vector of small Hamming weight ω. Thus, we relax the condition on the target vector and allow for some error positions. This in turn helps us to significantly reduce the size of the starting lists, which determines the memory consumption, and the running time as a function of ω. For ω = 0, our algorithm achieves the original k-list run-time/memory consumption, n whereas for ω = 2 it has polynomial complexity. As in the k-list case, our Approximate k-list algorithm is defined for all k = 2m, m > 1. Surprisingly, we also find an Approximate 3-list algorithm that improves in the run- n time exponent compared to its 2-list counterpart for all 0 < ω < 2 . To the best of our knowledge this is the first such improvement of some variant of the notoriously hard 3-list problem. As an application of our algorithm we compute small weight multiples of a given polynomial with more flexible degree than with Wagner’s algorithm from Crypto 2002 and with smaller time/memory consumption than with Minder and Sinclair’s algorithm from SODA 2009.
    [Show full text]
  • A Multi-Method Analysis of the Berlin International Film Festival and the World Cinema Fund
    University of Massachusetts Amherst ScholarWorks@UMass Amherst Doctoral Dissertations Dissertations and Theses July 2018 A Multi-Method Analysis of the Berlin International Film Festival and the World Cinema Fund Eren Odabasi University of Massachusetts Amherst Follow this and additional works at: https://scholarworks.umass.edu/dissertations_2 Part of the Film and Media Studies Commons Recommended Citation Odabasi, Eren, "A Multi-Method Analysis of the Berlin International Film Festival and the World Cinema Fund" (2018). Doctoral Dissertations. 1262. https://doi.org/10.7275/11930004.0 https://scholarworks.umass.edu/dissertations_2/1262 This Open Access Dissertation is brought to you for free and open access by the Dissertations and Theses at ScholarWorks@UMass Amherst. It has been accepted for inclusion in Doctoral Dissertations by an authorized administrator of ScholarWorks@UMass Amherst. For more information, please contact [email protected]. A Multi-Method Analysis of the Berlin International Film Festival and the World Cinema Fund A Dissertation Presented by EREN ODABASI Submitted to the Graduate School of the University of Massachusetts Amherst in partial fulfillment of the requirements for the degree of DOCTOR OF PHILOSOPHY May 2018 Department of Communication © Copyright by Eren Odabasi 2018 All Rights Reserved A Multi-Method Analysis of the Berlin International Film Festival and the World Cinema Fund A Dissertation Presented by EREN ODABASI Approved as to style and content by: ________________________________________________ Anne T. Ciecko, Chair ________________________________________________ Martin F. Norden, Member ________________________________________________ Jonathan R. Wynn, Member Mari Castañeda, Department Chair Department of Communication ACKNOWLEDGEMENTS I would like to express my deepest gratitude to my advisor Anne T.
    [Show full text]
  • The London School of Economics and Political Science Why Are
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by LSE Theses Online The London School of Economics and Political Science Why are childcare workers low paid? An analysis of pay in the UK childcare sector, 1994-2008 Ludovica Gambaro Thesis submitted to the Department of Social Policy of the London School of Economics for the degree of Doctor of Philosophy, London, February 2012 Declaration I certify that the thesis I have presented for examination for the MPhil/PhD degree of the London School of Economics and Political Science is solely my own work other than where I have clearly indicated that it is the work of others. The copyright of this thesis rests with the author. Quotation from it is permitted, provided that full acknowledgement is made. This thesis may not be reproduced without my prior written consent. I warrant that this authorisation does not, to the best of my belief, infringe the rights of any third party. I declare that my thesis consists of 105,955 words. 1 Abstract The thesis examines pay among British childcare workers from 1994 to 2008. It uses childcare as an example of female care occupations and selects the UK as a case study because in recent years childcare services have expanded substantially. As childcare provision has become increasingly formal, the issue of the rewards attached to this type of work has become more pressing. The thesis asks why childcare workers in the UK have traditionally received low pay and to what extent they continue to do so.
    [Show full text]
  • The Approximate K-List Problem
    The Approximate k-List Problem Leif Both and Alexander May Horst Görtz Institute for IT-Security Ruhr-University Bochum, Germany Faculty of Mathematics [email protected], [email protected] Abstract. We study a generalization of the k-list problem, also known as the General- ized Birthday problem. In the k-list problem, one starts with k lists of binary vectors and has to find a set of vectors – one from each list – that sum to the all-zero target vector. In our generalized Approximate k-list problem, one has to find a set of vectors that sum to a vector of small Hamming weight ω. Thus, we relax the condition on the target vector and allow for some error positions. This in turn helps us to significantly reduce the size of the starting lists, which determines the memory consumption, and the running time as a function of ω. For ω = 0, our algorithm achieves the original k-list run-time/memory consumption, n whereas for ω = 2 it has polynomial complexity. As in the k-list case, our Approximate k-list algorithm is defined for all k = 2m, m > 1. Surprisingly, we also find an Approximate 3-list algorithm that improves in the run- n time exponent compared to its 2-list counterpart for all 0 < ω < 2 . To the best of our knowledge this is the first such improvement of some variant of the notoriously hard 3-list problem. As an application of our algorithm we compute small weight multiples of a given polynomial with more flexible degree than with Wagner’s algorithm from Crypto 2002 and with smaller time/memory consumption than with Minder and Sinclair’s algorithm from SODA 2009.
    [Show full text]
  • Appendix 1 the World of Cinema in Argentina
    Appendix 1 The World of Cinema in Argentina A revelation on January 17, 2002. I am headed to the Citibank on Cabildo Street, where I have a savings account. I try to enter the bank but cannot because of the number of people waiting. So I give up on my errand. I cross the street to return home, and from the sidewalk facing the bank I see, for the first time, the building in which it is housed. The familiar is made strange; shortly after, it becomes familiar again, but in a slightly disturbing way. I recognize the building’s arches and moldings, its fanciful rococo façade. I recognize the Cabildo movie theater, in which I saw so many movies as an adolescent. Although I have been coming to this bank for years, I have never before made this connection. I know movie theaters that have been transformed into video arcades, into evangelical churches,1 into parking garages, even into bookstores. Yet I knew of none that had become a bank. All my savings were housed in a space that had been shadows, lights, images, sounds, seats, a screen, film. I remember that around the age of sixteen, I saw Robert Redford’s Ordinary People (1980) on the same day as Alain Resnais’ Last Year at Marienbad (1961) in the Hebraica theater. Two or three movies a day (video didn’t exist then) in which almost everything was film, film, and only film. These are the adolescent years in which cinephilia is born: a messy love, passionate, without much judgment.
    [Show full text]
  • Abused Domestic Workers in Europe: the Case of Au Pairs
    DIRECTORATE GENERAL FOR INTERNAL POLICIES POLICY DEPARTMENT C: CITIZENS' RIGHTS AND CONSTITUTIONAL AFFAIRES GENDER EQUALITY Abused Domestic Workers in Europe: The case of au pairs STUDY Abstract This study analyses au pair arrangements in six EU Member States (Denmark, Germany, Ireland, the Netherlands, Poland and Spain) through descriptions of national and international legal frameworks and practices of au pairing. The findings show different patterns of au pair migration and different situations of au pairing as well as different strategies to protect the au pairs. The overall recommendation is to separate current au pair immigration into two programmes: one of cultural exchange and one of domestic and care work. PE 453.209 EN This document was requested by the European Parliament's Committee on Women's Rights and Gender Equality. AUTHOR Dr Helle STENUM, in cooperation with Professor, Dr Hanne Marlene Dahl, who has read and commented on the report. Research assistants: Anne HALD PETERSEN and Taia NYSTED SCHØTT. RESPONSIBLE ADMINISTRATOR Claire GENTA Policy Department C - Citizens' Rights and Constitutional Affairs European Parliament B-1047 Brussels E-mail: [email protected] LINGUISTIC VERSIONS Original: EN ABOUT THE EDITOR To contact the Policy Department or to subscribe to its newsletter please write to: [email protected] Manuscrit completed in October 2011. Brussels, © European Parliament, 2011. This document is available on the Internet at: http://www.europarl.europa.eu/studies DISCLAIMER The opinions expressed in this document are the sole responsibility of the author and do not necessarily represent the official position of the European Parliament. Reproduction and translation for non-commercial purposes are authorized, provided the source is acknowledged and the publisher is given prior notice and sent a copy.
    [Show full text]
  • Finance Curse Analysis
    Now a major new book! “Occupation Jersey” (2007). ǡ Ǥ May 2013 Nicholas Shaxson is author of Poisoned Wells, a book about the Resource John Christensen is the former economic adviser to the British Crown Curse based on 14 years’ research in west Africa; and also author of Treasure Dependency of Jersey, a pre-eminent British tax haven. Having originally Islands, a book about tax havens and financial centres. He has written regularly trained as a forensic fraud investigator, he is now the director of the Tax Justice for the Financial Times, the Economist Intelligence Unit, Vanity Fair, and many Network, a member of the OECD Task Force on Tax and Development, and a others. board member of Washington, D.C.-based New Rules for Global Finance. INTRODUCTION It is now well known that many countries poor peers. This paradox of poverty from which depend on earnings from natural plenty has been extensively studied and is resources like oil have failed to harness them known as the Resource Curse. for national development. In many cases it seems even worse than that: for all the This book asks whether some countries hundreds of billions of dollars sloshing into ϐ countries like oil-rich Nigeria, for instance, may be suffering from a similar, and related, ϐ ǡ phenomenon. economic growth, greater corruption, higher inequality, less political freedom and often ϐ more absolute poverty than their resource- – and not just for reasons related to the global The Finance Curse 2 ϐ ʹͲͲ͹ȀͺǤ ϐ more surprisingly, this phenomenon that we such as the Cayman Islands or Cyprus, are calling the Finance Curse is similar in these complexities are stripped away and many ways to the Resource Curse: there are big the phenomenon is laid bare in purer, more overlaps in both their causes and their effects.
    [Show full text]