Department of Regulatory Procedural Law

The Department of Regulatory Procedural Law addresses legal questions concerning regulation. Procedural law determines the perspective here as well. The object of research of this department concerns in particular the capital and financial markets, their (currently partly insufficient) regulation, and the necessary consequences which have to be drawn from it in the light of the persistent financial crisis. Particular attention will be devoted to investment funds for which Luxembourg is an attractive location. From a procedural perspective, experiences from the U.S. are of particular interest, e.g. the so-called “securities litigation” , as well as the practice of U.S. courts to substitute (missing) legislation by negotiated settlements – “regulation through litigation” is in fact an often used (but not always questioned) buzzword of the last decade. It is not only in the U.S. that the enforcement of mandatory provisions through claims before civil courts is called private law enforcement – in Europe, however, the question arises whether State authorities would not be more suitable guarantors of the public interest than law firms and other profit-oriented operators in the market. Another key research area is the supervision of financial markets through national and European agencies – which also deals with the question of granting the companies concerned an effective legal remedy.