Skip Navigation


Capital Markets Law Journal Advance Access originally published online on February 25, 2009
Capital Markets Law Journal 2009 4(2):155-171; doi:10.1093/cmlj/kmp002
This Article
Right arrow Full Text
Right arrow Full Text (PDF)
Right arrow All Versions of this Article:
4/2/155    most recent
kmp002v1
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Services
Right arrow Email this article to a friend
Right arrow Related articles in Capital Markets Law Journal
Right arrow Similar articles in this journal
Right arrow Alert me to new issues of the journal
Right arrow Add to My Personal Archive
Right arrow Download to citation manager
Right arrowRequest Permissions
Google Scholar
Right arrow Articles by Oakes, J.
Right arrow Articles by MacNeil, I.
Right arrow Search for Related Content
Social Bookmarking
Add to CiteULike   Add to Connotea   Add to Del.icio.us  
What's this?

© The Author (2009). Published by Oxford University Press. All rights reserved. For Permissions, please email: journals.permissions@oxfordjournals.org

Capital raising: a transatlantic perspective

Jeffrey Oakes and Iain MacNeil*
*Jeffrey Oakes is a partner of Davis Polk & Wardwell resident in London and head of its European Financial Institutions Group.

The first 150 words of the full text of this article appear below.


Key points

  • This article describes and analyses the respective legal regimes for capital raising in the USA and Europe, focusing, in particular, on recent capital raising associated with the rebuilding of regulatory capital in the wake of the financial crisis.
  • In the USA, the development of an integrated disclosure system and, more recently, the creation of a new category of ‘well-known seasoned issuer’ (WKSI) has facilitated rapid access to the market by limiting the need for regulatory review of offering documents. The benefits of the system were evident in a number of cases in 2007 and 2008 in which issuers were able to complete the capital-raising process over very short time periods by comparison with their European peers.
  • In Europe, the absence of integrated disclosure and the presence of pre-emptive rights complicates the capital-raising process and results in an extended timetable. Recent rights issues highlighted the risks associated with such . . . [Full Text of this Article]

 

   1. Introduction
 

   2. Capital raising in the USA
 
Integrated disclosure and streamlining of the offering process

   3. Capital raising in Europe and the UK
 

   4. Analysis
 
Access to capital markets

   Speed to market
 
Limited shelf registration in the EC
Other issues

   5. Conclusions
 

Add to CiteULike CiteULike   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us    What's this?

Related articles in Capital Markets Law Journal:

CMLJ Express

Capital Markets Law Journal 2009 4: 131-132. [Extract] [Full Text]