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Axel Marx and Jan Wouters

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Axel Marx and Jan Wouters

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Axel Marx and Jan Wouters

Global governance emerged as a concept more than two decades ago. Despite its relevance to key processes underlying the major public policy questions of our age, the contours of 'global governance' remain contested and elusive. This Research Review seeks to clarify key trends and challenges in global governance by bringing together the leading scholarship on its different forms. The Literature Review Article discusses key issues in relation to global governance institutions: democracy, legitimacy, accountability, fragmentation, effectiveness and dispute settlement.
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Axel Marx and Jan Wouters

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Frans G. von der Dunk

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Frans G. von der Dunk

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Frans G. von der Dunk

The scholarly contributions discussed in this timely research review address the special realm of legal rules applicable to space activities and their terrestrial applications. Outer space is generally considered a “global commons”, so this review focuses on the international regime which is also the foundation of an increasing number of national space laws. Topics covered concern the development, character and structure of international space law, its relationship with national space law, and military and commercial aspects of space activities, including launching and satellite applications. This fascinating study provides a comprehensive overview of the most important matters relating to international space law and will be a valuable research tool for academics and practitioners alike.
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Frans G. von der Dunk

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Shamnad Basheer and Rahul Bajaj

In this chapter we reflect on the question: Who or what exactly is the patent office? And how best do we secure its judicial proficiency and independence? We offer a framework for assessing this question, after cutting through the vast morass of often confusing case law in this regard that has failed to draw a conceptually sound distinction between the judicial, the quasi-judicial and the administrative. We argue that agencies such as the patent office tasked with a high level of adjudicatory functions are predominantly ‘judicial’ in character and ought to be therefore categorized as ‘Adjudicative Regulators’. As such they are to be vested with a significant degree of judicial competence and independence. We offer some broad suggestions in this regard. Our frame is likely to be useful for characterising other regulatory agencies with predominant judicial functions, and could well prove instructive for agencies in other countries with legal regimes similar to that of India.

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Dimity Kingsford Smith and Olivia Dixon

Since the advent of modern securities regulation in the 1930s, disclosure has been king in terms of regulation. In the last decade regulators and policy-makers have accepted the arguments of consumer advocates and the insights of behavioural research, showing that with retail investors or financial consumers, disclosure does not work well. It is insufficiently protective, given the evidence of modest levels of consumer financial literacy. This chapter looks at regulatory strategies other than disclosure, which assume a more interventionist approach. These include bans on conflicted remuneration, product design and distribution obligations and regulators’ product intervention powers. Indeed, it might be argued that regulation now requires caveat vendor or ‘seller beware’ rather than the caveat emptor ‘buyer beware’ that underlies disclosure. Against this background we also consider the implications for the financial consumer of a variety of digital economy approaches to the sale and distribution of retail investments.