Transcript of
speeches |
Introduction |
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Introduction
by Antonio
Borges, Chairman, European Corporate
Governance Institute and Vice-Chairman, Goldman Sachs
International |
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Introductory remarks by Lance
Liebman, William S. Beinecke Professor
of Law, Columbia University, Director of the American
Law Institute |
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Keynote
Address by Alexander
Schaub, Director General, European Commission,
DG Internal Market |
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Session 1 –
The European Experience and its implications for
the United States
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Through a series of legislative measures and in
recent landmark cases, the European Commission and
the European Court of Justice have affirmed the
principle of freedom of establishment of companies
in the European Union. These cases have fundamental
implications for the structure and operation of
European companies and capital markets and open
up the possibility of competition emerging between
different governance systems. Some people argue
that this creates new opportunities for companies,
financial institutions and for overcoming protectionism
but others fear that it will undermine regulatory
and legal standards. In this first session, legal,
economic and Commission experts will describe the
recent developments and evaluate their implications
for Europe and the transatlantic relationship with
the United States. |
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Introduction to the Session by
Klaus
J. Hopt, Professor and Director, Max
Planck Institute for Foreign Private and Private International
Law, Hamburg; ECGI Fellow |
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Presentation by Eddy
Wymeersch, Professor of Law, University
of Ghent; Chairman, Belgian Banking, Finance and Insurance
Commission; ECGI Fellow |
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Presentation by Colin
Mayer, Peter Moores Professor of Management
Studies (Finance), Said Business School, University
of Oxford; ECGI Fellow |
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Presentation by Gerard
Hertig, Professor of Law, Swiss Institute
of Technology |
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Presentation by David
Wright, Director, European Commission,
Internal Market and Financial Services DG |
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Keynote
address |
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Keynote
Address by Mario
Draghi, Vice Chairman and Managing Director,
Goldman Sachs International |
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Session 2 – The US Experience and its implications
for Europe |
| Recent developments
in American corporate law have been dramatic. Enron
and other scandals have posed fundamental questions
about the legal structure of relationships among managers,
directors, shareholders, gatekeepers, and the different
institutions of government charged with oversight
and enforcement. The federal Sarbanes-Oxley statute
has imposed new requirements on public corporations.
Some people argue that regulatory competition between
states and "forum shopping" caused an erosion
of standards that had to be corrected through federal
intervention, while others have warned against a "creeping
federalization of corporate law" stifling regulatory
innovation by state legislatures. In this second session,
legal experts from the United States will analyse
the shifting distribution of authority between the
national and state governments in the U.S. and evaluate
the implications for the United States and the transatlantic
relationship with Europe. |
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Introduction to the Session by
Lance
Liebman, William S. Beinecke Professor
of Law, Columbia University, Director of the American
Law Institute |
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Presentation by Melvin
Eisenberg, Koret Professor of Law, University
of California, Berkeley |
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Paper on which the presentation byJohn
Coffee, Adolf A. Berle Professor of Law,
Columbia Law School; ECGI Fellow is based |
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Paper on which the presentation by Mark
Roe, David Burg Professor of Law, Harvard
Law School; ECGI Fellow is based |
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Presentation by Ronald
Gilson, Professor of Law and Business,
Columbia University; ECGI Fellow |
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Keynote
Address |
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Keynote
Address by Harvey
Goldschmid, Commissioner, United States
Securities and Exchange Commission |
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Session 3 – Floor discussion and summing up |
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Summing
up by Marco
Becht, Professor of Finance and Economics,
Université Libre de Bruxelles; ECGI Executive
Director |
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Sponsors'
Dinner |
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Dinner
Speech by Frits
Bolkestein, Member of the European
Commission responsible for the Internal Market, Taxation
and Customs |
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