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When are horizontal agreements relating to environmental objectives necessary or efficient from a social perspective?When should they be discontinued pursuant to competition concerns? Such agreements can create interesting challenges for competition authorities. On the one hand, they may improve efficiency and consumer welfare, such as by enabling risk sharing and cost savings and by facilitating innovation. On the other hand, they
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Intermediaries fulfil a key role in international business transactions. While many of them perform lawful tasks, many also engage in bribery of foreign public officials. This study, initiated in 2007, focuses on the use of intermediaries in cases of bribery of foreign public officials. It provides a definition of intermediaries and reasons for their use before examining several modus operandi, legal and practical issues, and
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This document reproduces the Report by the Chair of the Annual Meeting of the National Contact Points (NCP) which was held in June 2011. This report reviews NCP activities as well as other implementation activities undertaken by adhering governments over the June 2010 - June 2011 period.
This second meeting of the OECD-hosted working group on gold presented the revised Supplement on Gold and sought feedback and agreed on next steps.
Policy actions proposed in this paper are based on initial OECD research undertaken and are intended to generate debate and discussion. Further research is planned on these topics within the framework of the project on institutional investors and long term investment. OECD Working Papers on Finance, Insurance and Private Pensions, No.13.
At this Financial Regulation Session of the G20 Leaders Summit, M. Gurría spoke of 'a comprehensive reform of the international financial architecture that should include financial inclusion, protection and education'.
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While neither the legal nor institutional framework in Germany were adequate for dealing with stressed banks in the recent financial crisis, the newly established Federal Agency for Financial Market Stabilisation fills that gap. Initially focusing on rescuing banks, that agency now focuses on restructuring them.
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The report assess the potential impact of a crisis in the banking sector on public finances in four selected EU Member States and finds that in two of them governments are likely to have to cover losses generated in the banking system.
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The macro-prudential authority is being adopted by monetary policy authorities as a means to limit systemic financial risks in the light of weaknesses revealed by the crisis. This article outlines the powers, scope and accountability that should characterise the macro-prudential authority.
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The financial crisis exposed serious flaws in the European framework for cross-border banking, including deposit insurance. Iceland’s experience shows that sizeable cross-border banking operations in small countries with their own currency come with very significant risks.