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Issue 18 (2)/ 2020

2020 Next

Publication date: 30.06.2020

Licence: CC BY-NC-ND  licence icon

Editorial team

Editor-in-Chief Jolanta Gliniecka

Issue content

Wael Saghir

Financial Law Review, Issue 18 (2)/ 2020, 2020, pp. 1-12

https://doi.org/10.4467/22996834FLR.20.006.12428

Export Credit Agencies have been playing an increasing role in promoting international trade and foreign investment. These agencies differ in their ownership structure and in their governance. Similarly, the importance of applying proper corporate governance has been increasing rapidly. Profit and non-profit institutions are being under pressure to protect shareholders’ interest and employees’ rights and to act in a responsible manner without being all about blind-folded profit maximization. For that, this paper thoroughly examines the ownership structure and governance of the UK Export Finance (UKEF) and how it adheres by corporate governance rules. The paper, through analyzing primary and secondary data, aims to emphasize that there is room for improvement in the current corporate governance model followed by the UKEF.

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Galina Obukhova, Evgeniia Dmitrieva

Financial Law Review, Issue 18 (2)/ 2020, 2020, pp. 13-31

https://doi.org/10.4467/22996834FLR.20.007.12429

This contribution deals with the comprehensive review of the labour market during the latest in a series of financial crises. The article presents the legal background for detailed regulation of norms introduced to combat high inflation growth; economic instability and income stratification of the population as a consequence of the application of new measures and their compliance directly affecting the normal development of the labour market. The contribution aims to analyse the labour market during the latest in a series of economic crises based on the study, analysis and synthesis of the scientific base, current legislation and the practice in its application. In order to achieve the aim and fulfil the set tasks, popular scientific dialectical cognition methods, as well as logical, systemic, historical, comparative-legal and formally legal methods were used in the article. We come to the conclusion that the labour legislation is closely linked to the economic processes that have a direct impact on the level of well-being and social climate in the society. The achievement of the public policy objectives in the area of labour market management depends on significant compliance with financial regulations. The concrete changes that are taking place and which are beginning to take shape on the labour market under the influence of the crisis, are becoming irreversible. They change the most important indicators of the labour market, which play the role of its structure-forming components, such as the engagement and unemployment, labour migration and compensation of employees. Their dynamics determines changes in the general financial standing of the labour market. At the same time, they are important for the overcoming of the crisis.

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Roman Smelik

Financial Law Review, Issue 18 (2)/ 2020, 2020, pp. 32-47

https://doi.org/10.4467/22996834FLR.20.008.12430

This contribution deals with the financial component that is a key structural element in the system of economic security. The aim of this article is to identify the counterparties of the external environment and certain elements of the internal environment as the main directions in ensuring the financial security of an enterprise. The extraction of the external partners is aimed at identifying potential threats in the financial sphere from the unfair actions of contractors, customers, resource suppliers, buyers of finished products. The work on financial security within the enterprise itself is aimed at determining and systematically monitoring of the level of financial stability, financial independence and solvency of the enterprise itself. Both areas of this work should be carried out in an integrated and systematic manner. In the process of achieving the aim several popular and formal scientific methods were used, such as a dialectical method of knowledge, as well as the logical, systemic, historical and formally legal method. Accordingly, there are also the main stages of financial security work: the document phase; the property management phase; the reporting phase; the phase of monitoring of indicators. The essence and content of each of these phases are described in the article.

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Anna Zalcewicz

Financial Law Review, Issue 18 (2)/ 2020, 2020, pp. 48-63

https://doi.org/10.4467/22996834FLR.20.009.12431

This paper is part of the discussion on the scope of application of the findings of behavioural sciences in law-making in order to effectively influence the formation of social relations in accordance with contemporary standards. The discussion focuses on the question of the extent to which the legislator can take into account the behaviour/emotions of clients of financial services institutions when creating financial market law. The subject of the analyses encompasses inter alia the scope and manner of its use of information concerning deviations from the choices assumed for a strictly rational person making a decision on the financial market, which raises questions about the normative and ethical aspects of taking into account behavioural factors in financial market law.

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Szymon Obuchowski

Financial Law Review, Issue 18 (2)/ 2020, 2020, pp. 64-82

https://doi.org/10.4467/22996834FLR.20.010.12432

This contribution introduces the idea of incompletely theorized agreements conceived by American legal theorist Cass R. Sunstein to the doctrine of tax law. The main aim of the contribution is to describe the content and nature of the idea in by presenting the ways in which it may be seen as coherent with empirical reality and how to assess its connection to it. The paper also draws several conclusions that can be made by juxtaposing the idea with the process and issues of tax law-making in divided society with examples drawn from Polish practice. What follows is the prescription to keep the discussion concerning tax law amendments as disconnected from political practice in divided society as possible, in order to maintain tax law quality and efficiency. It should be practically oriented and focusing on outcomes of projected legislative actions that are possible to predict. The methods used in the article are mainly description, discussion compiling and reshaping of theoretical ideas, rhetorical justification and grounding of drawn conclusions.

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