In today's financial markets, investors no longer hold securities physically. Instead, securities such as shares or bonds are mostly held through intermediaries and transferred by way of book-entries on securities accounts. However, there are remarkable conceptual differences between the various jurisdictions with regard to the legal treatment of intermediated securities. It is widely agreed that this patchwork creates considerable legal risks, especially in cross-border situations. Two initiatives are in place to reduce these risks. In 2009, the UNIDROIT Convention on Substantive Rules for Intermediated Securities (the 'Geneva Securities Convention') was adopted, aimed at harmonisation on the international level. The EU Commission is also running a legislative project, to achieve harmonisation at the regional level. This book compares both initiatives and analyses their impact on the securities laws of selected European jurisdictions.

Essential and expert guide to the global regulatory landscape in the field of crypto assets

This report assesses the extent to which Dutch water governance is fit for future challenges and sketches an agenda for the reform of water policies in the Netherlands. It builds on a one-year policy dialogue with over 100 Dutch stakeholders, supported by robust analytical work and drawing on international best practice. The Netherlands is a pioneer country in water management. It is widely known for its track record in reclaiming land from the sea, as well as its world-class engineering, strong water industry, and agricultural performance. But are these assets enough to cope with current and future challenges? Or do these challenges call for different organisational settings? It is the purpose of the OECD-Netherlands water policy dialogue to address this question,by applying a lens to the current state of play in Dutch water management and identifying ways in which the governance framework can be adjusted so that it is "fit for the future". This report on the outcomes of the policy dialogue focuses on the close interconnection between water governance and water security, both now and in the future. It outlines an agenda for future water policies in the Netherlands, which can improve the country's capacity to cope with future trends driven by climate change, economic growth, demographic patterns or innovation.