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To provide a practical look at the European Union Market Abuse Regulation (Regulation EU No. 596/2014) (“MAR”) and some of its uncertainties, particularly the issue of its wide reaching jurisdictional scope.

The article takes a three pillar approach covering the following: a brief discursive overview of MAR, consideration of some of its uncertainties and key areas of controversy, and a detailed consideration of the jurisdictional scope of MAR.

Many questions and considerations about MAR remain, particularly those regarding how the investment recommendations requirements will be met in practice, most notably in respect of sales notes. Further, additional extensive record keeping obligations and prescriptive market soundings procedures are now expected of firms in order to show the legitimacy of their activities. In addition, the geographical scope of MAR is wide and all encompassing. Whilst its market manipulation, improper disclosure and insider dealing provisions must undoubtedly be adhered to worldwide, it remains to be seen how far the conduct requirements included in MAR will be implemented by non EU firms.

Consolidation and detailed consideration of the most common questions being asked in the market by market participants and issuers on The Market Abuse Regulation in the run up to its implementation. Practical guidance from experienced financial regulatory lawyers.

The purpose of this paper is to provide an analysis of the market abuse regulation to determine whether the general assumption that it has made little difference to the pre-existing UK law on market abuse is accurate. In particular, the potential impact on compliance and behaviour in financial services firms and those who potentially receive inside information is considered.

The methodology adopted is a combination of critical analysis and black letter law utilised to determine the content and potential impact of the market abuse regulation. A process of discovery made more important by the limited assistance given by the European Securities and Markets Authority and the Financial Conduct Authority in terms of the guidance and definitions they have provided.

The new Regulation has a wider definition of insider dealing than under the previous law, has a wider application in terms of the financial instruments that it applies to, has triggered significant new compliance and disclosure requirements and it also extends the law to new markets.

There are limitations in that the relevant regulatory bodies, ESMA and the FCA have made little effort to clarify how they interpret the new Regulation. This is a serious problem because in the case of the FCA, their view will impact on the approach they will take in future enforcement actions.

This paper provides the first real analysis of the market abuse regulation’s effect and shows that, if carefully analysed in context, it has a significant impact on firms in the financial services sector and those engaged in activities which can put them in receipt of inside information. It will cause an increase in relevant compliance and has significant cost implications for affected firms.

This is not really relevant here. There will be necessary changes to compliance procedures.

The originality stems from the fact that there appears to be little else published which has engaged in a sustained analysis of the impact and effect of the EU market abuse regulation on the UK’s financial markets and those other firms who receive inside information.

The purpose of this paper is to collate Morrison & Foerster's view on the state of the global outsourcing market and their lawyers' experience with a wide range of sourcing projects in a number of geographic and sectoral markets.

The global sourcing trends 2008 report is co‐authored by Morrison & Foerster partners based in Europe, the USA and Asia and edited by the Chair of Morrison & Foerster's Global Sourcing Group. Initially, colleagues in the Global Sourcing Group were surveyed and this team of more than 60 lawyers in the firm's offices around the globe were asked for their observations over the last 12 months, and predictions for the coming months, based on advising on a wide range of sourcing projects in a number of geographic and sectoral markets. Soundings were taken from more than 50 clients from a client base which includes Fortune 100 companies, some of the world's largest financial institutions; public sector organizations; outsourcing service providers; and a range of corporates from diverse industry sectors including media, travel and logistics, insurance, healthcare and pharmaceuticals, and IT. Other advisors in the sector were spoken to also, including many of the leading outsourcing consultancies. Results of this informal survey were then compared with the annual sourcing reports the firm had produced at the start of 2006 and 2007.

The report finds: an economic slowdown will see a move back towards cost‐driven outsourcing – despite the fact that, over the long term, service‐driven or value‐driven deals tend to deliver more stable, successful relationships. Greater emphasis is seen on post‐signature support, governance, supplier management, and the role of the retained function. As the pharma industry sharpens its focus on the core competencies needed to sustain its pipeline of new drug candidates, increased pharmaceutical outsourcing in 2008 and thereafter is expected to be seen. As all companies seek to reduce their corporate carbon footprint, a greater take up of outsourced services that deliver “Green IT” is expected.

This paper provides a summary of global sourcing trends in 2008, comment on the state of the outsourcing market and some trends to watch out for in 2008.

This study aims to explore the reasons behind the lengthy delays in completing a single public-private partnership (PPP) project in Indonesia and investigates how the transaction costs play a significant role in hindering the project’s success.

To broaden insight into the transaction cost theory, the authors used a single case study approach to provide a more in-depth analysis of a context whose complexity can be fully explored. As the primary data sources, 16 face-to-face semi-structured interviews were conducted with the stakeholders directly involved in the project’s initiation, design and execution.

This case study demonstrates that transaction cost issues, both political and economic, play a significant role. This study has identified four main problems associated with transaction costs hindering project success, namely, executing agencies’ lack of knowledge and experience, lack of coordination for such a complex governance structure that links too many stakeholders and the financial and political risk that increase the uncertainty and public distrust.

This study contributes mainly to the PPP and transaction costs economics literature, providing empirical evidence on why major PPP projects may fail to be procured. The Greater Bandung waste to energy (WTE) Project case demonstrates that transaction costs, both political and economic, have played a significant role in the lengthy delay of the PPP project.

As the project involves many transaction cost issues, mapping the failure factors at the project sites can significantly contribute to the practitioners/stakeholders involved in the PPP WTE projects. Therefore, this study provides a lesson to the policymakers at all levels interested in PPPs to consider the issues of transaction costs related to the PPP projects. It can be used as guidance as well as a reference for future PPP WTE projects in Indonesia.

Mapping the failure factors also signifying the response of the public in the PPP WTE projects undertaken. As the citizens become more rule-conscious and rights-conscious, they demand the opportunity to participate in creating rules and project plans. If the project failed to consult with affected communities and undermined democratic accountability, the angry citizens will confront the government to cancel the project. Therefore, political and economic influences for public attitude play significant roles in making the PPP WTE projects successful.

This study provides insight into the transaction cost issues that have hindered the completion of Indonesia’s PPP WTE project over the past 15 years. Additionally, the project feasibility analysis should include an understanding of transaction costs for partnering in PPP.

The provision of school assets and associated services is essential for achieving a country's educational outcomes. Building and managing schools usually features large component of operation, multiple groups of stakeholders, relatively simple design and technical requirements and tight timeframes to be completed to meet the open date. Internationally, public-private partnerships (PPPs) were introduced as innovative delivery models to bring forward school projects. The purpose of this paper is to evaluate the PPP experiences in the school sector focusing on the critical dimensions impacting on the viability of using PPPs for school development.

Comparative case studies of two school PPP projects based in Australia and New Zealand were adopted as the main research method. Semi-structured interviews with key stakeholders were used as primary data collection method.

By examining the procedural and organisational arrangements from a comparative perspective, the research finds that, for a successful school PPP, the followings are critical: sound business case development; size-adjusted and streamlined tendering process; localised private sector partner and streamlined finance; extensive stakeholder engagement; and effective governance and organisational structure and enhanced partnership.

The findings provide practical implications for policy makers and public procuring authorities initiating school projects and private entities seeking investment opportunities. By implementing the strategies derived from this research and adjusting to their own social and economic environment, governments and industry would be at a better position to develop and manage schools using PPPs.

One field in business where there is a purported gap between theory and practice is in marketing. This paper aims to examine one area of the debate, the degree of congruence between the established textbook theories of marketing and the practical activity of marketing managers.

Phenomenological interviews were carried out with senior marketing managers from a diverse range of organisations. The aim was to establish what types of factors inform manager's approaches to practice. Meaningful comparisons were made possible, as a range of marketing texts were also examined.

Textbook theories represent a flawed view of the practitioner's world. Many texts are very similar, based on an implicitly systems based paradigm. Universal truths are seen as indispensable modes of representational language. In contrast, the interviews with managers show that marketing is a locally contingent activity, occupying a discursive space separate from that of textbook theory.

Scholars desire to reduce real world activity to over arching explanations has led to the simplification of theory. Textbooks should embrace an approach based on interpretative insights into the realities of marketing practice. Moves away from the “one size fits all” theory need to occur, to a situation where marketing is recognised as being about a socially mediated, multifaceted approach to business activity.

Substantial attention has been paid to what many commentators regard as an academic practitioner divide in marketing. Most of this concerns the status of research into marketing. Considerably less attention is devoted to the position of the marketing textbook. This paper helps to remedy the situation. Ideas are offered up for the development of marketing knowledge and ways are suggested to help close the theory practice gap in the discipline, through the medium of the textbook.

Looks at the marketing of five Kraft Italia food products: Splendid, Sottilette, Milka, Hag and Philadelphia in Italy. Examines the changes in consumption rate and how marketing strategies for these products have developed. States that the lessons to be learned from these case studies could help encourage the development of effective marketing of other brands in Italy.