International organizations and peaceful resolution of disputes
Kurbanov R.A. —
Integration Processes within the framework of Economic and Monetary Union of West Africa
// International Law. – 2017. – ¹ 3.
– P. 1 - 30.
Read the article
Review: This article is dedicated to the Economic and Monetary Union of West Africa (UEMOA), history of its establishment, functionality, institutional structure, normative acts, as well its impact upon the national law of the organization’s member-states. The author thoroughly reviews various levels of interaction in the context of this union. The presence in such sub-regional organization of the secondary law testifies to the high level of integration processes. The conducted analysis of the work of UEMOA gives grounds for claiming that this organization is one of the most “advanced” not only in Africa, but also worldwide. The examined integration organization has an extensive institutional structure that includes the Court of Justice, Accounts Chamber, Central Bank of West African States, West African Development Bank; also is established the West African Accounting System, in the context of which formed the Guild of Auditors and Chartered Accountants, National Council of Accounting, Accredited Centers of Administration, West African Council of Accountants, Permanent Council on the questions of accounting profession. Such well-structured institutional system indicates the high level of development of the integration processes within the framework of the Union.
Keywords: secondary law, West Africa, sub-regional integration, economic union, monetary union, national law, regional law, international law, international obligations, international treaties
M. M Mbacké, La Cour de justice de l'Union économique et monétaire ouest-africaine (UEMOA): son organisation, ses compétences et ses règles de procédure, EDJA, 1999
UEMOA, La politique industrielle commune de l'UEMOA (PIC), Union économique et monétaire ouest africaine, 2005
D. Gouadain, M. El Bachir Wade, Comptabilité générale système comptable de l'OHADA, De Boeck Secundair, 2002-r. 17.
Adzelu Kristian Arno. Transgranichnaya nesostoyatel'nost' v stranakh-chlenakh OKhADA. // Mezhdunarodnoe pravo i mezhdunarodnye organizatsii / International Law and International Organizations.-2012.-¹ 3.-C. 67-70.
A. Ngantchou « Le Système Comptable OHADA : Une réconciliation des modèles «européen continental» et «anglo-saxon» ?»-La place de la dimension européenne dans la comptabilité, Contrôle Audit, mai 2009, Strasbourg, France.
P. Mbenge, L'union économique et mon
Question at hand
Pleshakova N.S. —
Legal aspects of cross-border trades with the off-exchange underlying financial instruments (derivatives)
// International Law. – 2017. – ¹ 3.
– P. 31 - 44.
Read the article
Review: This article is dedicated to examination of the problems of choice of the applied law and jurisdiction in cross-border trades with the underlying financial instruments (derivatives), as well as issues of the parallel court and arbitration proceedings. The author analyzes the possible cases of emergence of the conflict of laws and jurisdictions that regulate the cross-border trades with derivatives, as well as indicated the ways for their resolution. The work also reviews the questions that occur from the demands raised by the regulators of various countries towards the order of conducting transaction with underlying financial instruments (derivatives) on the off-exchange market. The author analyzes the process of execution of contractual agreements between the actors of off-exchange trades with derivatives. Relevance of this topic is substantiated by the growing volume of trades with the underlying financial instruments in the international financial markets, as well as lack of due attention to the question of legal regulation of the derivative market; it is illustrated by the events of world economic crisis of 2008, as well as the emerged consequences for economy of the states and their legal systems that guarantee the rights and legitimate interests of the investors.
Keywords: transaction terms, standard documentation, parallel litigations, jurisdiction, choice of law, conflict of laws, cross-border contracts, off-exchange market, derivatives, close-out netting
ISDA 2002 MASTER AGREEMENT from 22.03.2011 between the Bank of America, N.A. & LKQ Corporation. US Securities and Exchange Commission. Part 4(h). Schedule, P. 34. Electronic resource: https://www.sec.gov/Archives/edgar/ data/1065696/000119312511118050/ dex101.htm (accessed 29.06.2017).
ISDA 2002 MASTER AGREEMENT from 11.01.2008 between HSBC Bank PLC & Interhealth Canada Infrastructure (TCI) Limited. Part 4(h). Schedule, P. 5. Electronic resource: http://www.tcinewsnow.com/ documents/hc/3_4.pdf (accessed 29.06.2017).
The International Swaps and Derivatives Association. Electronic resource: http://www2.isda.org (accessed 29.06.2017).
Asoskov A.V. Osnovy kollizionnogo prava. M.: Infotropik Media, 2012. S. 292.
Sm.: Hudson A. The law of finance. Sweet & Maxwell, 2012. P. 128.
ISDA 2002 MASTER AGREEMENT from 22.03.2011 between the Bank of America, N.A. & LKQ Corporation. US Securities and Exchange Commission. Electronic resource: https://www.sec.gov/Archives/edgar/ data/1065696/000119312511118050/de