Legal Certainty Group
The Group
will analyse issues of legal uncertainty relating to the integration of EU
securities clearing and settlement systems, and advise the Commission
accordingly. The Group is chaired by the Commission. It is composed of
around 30 legal experts drawn from academia, the public and the private
sectors, whose membership is personal, and not representative. A driving
force in the composition of the group has been the desire to capture
expertise, and thus to identify the membership without regard to
affiliation. The European Commission’s EU Clearing and Settlement
Legal Certainty Group held its first meeting in Brussels on 31st January.
Presentation of the group
-
Press release
(01.02.2005)
-
List of members
(updated in September 2008)
 
- Mandate
Advice of the Legal Certainty Group
| Date |
Document |
|
| 22.08.2008 |
Second Advice of the Legal Certainty Group
|
|
| 19.09.2006 |
Note to Chairman of LCG from David Wright,
Director, Financial Services Policy and Financial Markets, DG
Internal Market and Services |
|
| 28.07.2006 |
Letter from Pierre Delsaux, Chairman of the LCG |
|
| |
The Advice of the Legal Certainty Group |
|
| |
Annex: Practical examples of legal
barriers |
|
Comparative survey
| Date |
Document |
|
| 26.07.2006 |
Comparative survey |
(PDF: 1,2 MB) |
Meetings
| Date |
Document |
|
| 01.-02.07.2008 |
Agenda |
|
| |
Participants |
|
| 28.-29.05.2008 |
Agenda |
|
| |
Participants |
|
| 31.03.-01.04.2008 |
Agenda |
|
| |
Participants |
|
| 22.-23.01.2008 |
Agenda |
|
| |
Participants |
|
| 15.-16.11.2007 |
Agenda |
|
| |
Participants |
|
| |
Validity of book entry - presentation by
Klaus Löber - LCG1 |
|
| |
Working paper on validity of book entry -
LCG15 |
|
| |
Working paper on location of securities -
LCG16 |
|
| 10.-11.09.2007 |
Agenda |
|
| |
Minutes - Part I - LCG14 |
|
| |
Minutes - Part II (Appendices 3-8) |
|
| |
Participants |
|
| |
Subject 2 – corporate actions processing (first
working draft) - LCG12 |
|
| |
Subject 1 – book-entry securities (first working
draft) - LCG13 |
|
| 07.05.2007 |
Agenda |
|
| |
Minutes |
|
| |
Participants |
|
| |
TARGET2-Securities: Implications for the Legal
Certainty Project |
|
| 26.-27.02.2007 |
Agenda |
|
| |
Minutes |
|
| |
Introduction/Methodology Subject 1 ("book entry") -
LCG2 |
|
| |
Monitoring report UNIDROIT - LCG3 |
|
| |
Principles for new legislation - LCG4 |
|
| |
Scope – going beyond minimum harmonisation - LCG5 |
|
| |
The draft Directive on Shareholders‘ rights -
facilitating the cross-border exercise of voting rights |
|
| |
Corporate Actions (Giovannini Barrier 3) |
|
| 29.-30.06.2006 |
Draft Advice as discussed at the meeting |
|
| |
Draft Annex (Major examples of substantive law
barriers) |
|
| |
Revised Draft Advice following the meeting |
|
| 25.-26.04.2006 |
Agenda |
|
| |
Minutes |
|
| 13.09.2005 |
Agenda |
|
| |
Summary of action points |
|
| |
UNIDROIT Convention |
|
| |
Kauppi report |
  |
| |
Volunteers |
|
| 21.04.2005 |
Agenda |
|
| |
Report |
|
| |
Minutes |
|
| |
Document on Common Terminology |
|
| |
Document on Compendium of Definitions in Community Law |
|
| |
Document on the draft UNIDROIT Convention on
harmonised substantive rules regarding securities held with an
intermediary |
|
| 31.01.2005 |
Agenda |
|
| |
Report |
|
| |
Minutes |
|
| |
Questionnaire |
|
Members' and other relevant documents
| Date |
Document |
|
| 03.2006 |
US law: letter from Federal reserve bank of New York |
|
| |
US law: responses to the Legal Certainty Group
Questionnaire from Federal reserve bank of New York |
|
| |
US law: Uniform Commercial Code
Article 8 |
|
| 02.2006 |
Note concerning UNIDROIT preliminary draft Convention
on Harmonized Substantive Rules regarding Securities held with an
Intermediary |
|
| 01.2006 |
Swiss law: letter on draft Federal Act on custody and
transfer of securities held with an intermediary |
|
| |
Draft Federal Act on custody and transfer of
securities held with an intermediary |
|
| 01.2006 |
Japanese law: responses to the Legal Certainty Group
Questionnaire from Prof. Hideki Kanda, University of Tokyo |
|
| 01.2005 |
"The position of LCH.Clearnet" |
|
| 09.2004 |
BNP Paribas |
|
| 09.2004 |
Citigroup |
|
| 09.2004 |
ESF |
|
| 09.2004 |
Euroclear |
|
List of background working documents prepared by members of the Legal Certainty Group
or of the Legal Research Sub-group. Note that these documents have not been
adopted by the Legal Certainty Group.
| Date |
Author |
Subject |
|
| 21.04.2005 |
Karin Wallin-Norman |
Nordic Holding Systems |
|
| 27.04.2005 |
Dermot Turing |
Derivatives |
|
| 01.06.2005 |
Tryfonidou and Maris |
EU Academia |
|
| 01.07.2005 |
Jan Kobbach |
EU Regulatory Regime |
|
| 11.07.2005 |
Legal Research Sub-Group |
Minutes of meeting in London |
|
| 30.08.2005 |
Irene Martínez-Calcerrada |
Dematerialisation |
|
| 31.08.2005 |
Dermot Turing |
Omnibus Accounts |
|
| 01.09.2005 |
Marianne Sandel |
Finality |
|
| 05.09.2005 |
Agata Waclawik-Wejman |
Company law |
|
| 26.01.2006 |
Diego Devos |
Transfer Requirements |
|
| 27.01.2006 |
Dario Loiacono |
Recognition of Indirect Holdings |
|
| 30.01.2006 |
'Core Issues' Sub-group |
Minutes of meeting in Paris |
|
| 13.02.2006 |
Eva Micheler |
English and German law compared |
|
| 24.02.2006 |
Jürgen Than |
Moment of Transfer |
|
| 24.02.2006 |
Dario Loiacono |
Recognition of derivative holdings |
|
| 26.02.2006 |
Max Ganado |
Legal effects of Book Entries |
|
| 28.02.2006 |
'Core Issues' Sub-group |
Minutes of meeting in London |
|
| 21.03.2006 |
Janne Lauha |
Review of Loiacono |
|
| 26.03.2006 |
Dimitris Tsibanoulis |
Scope |
|
| 28.03.2006 |
Agata Waclawik-Wejman |
Corporate Actions & Voting Rights |
|
| 29.03.2006 |
Ulrik Bang-Pedersen |
Priority rules |
|
| 29.03.2006 |
Ignacio Gómez-Sancha |
Scope |
|
Useful links
|
RSS
