The topic of this research project is: Legal Aspects of settlement of share transactions under English, German,
Russian and Austrian Law - a comparative analysis.
The increasing importance of capital markets has fuelled legal writing on capital market Law in recent years. Most
of the writing, however, concerns the regulation of capital markets and stock exchange Law, for example, the
regulation of public offerings or listing rules of public companies.
Legal problems arising with respect to settlement, i.e. the execution of contracts entered into by investors, have
been treated to a much lesser extent.
This project concerns settlement of share transactions. Settlement is the fulfilment of contractual obligations
entered into on the stock market. It is the process by which property rights in shares are transferred to the buyer and
monies are transferred to the seller.
The project addresses the protection of the investors` propriety interests when shares are transferred. It determines
the legal position of the parties involved when share transactions are executed. The project examines transfers of
shares of listed companies. It does not cover private companies.
It examines settlement on a comparative basis, the legal frameworks of the following countries are dealt with:
Austria, England, Germany and Russia.