Editorial

Citation

Kirkbride, J. (2009), "Editorial", International Journal of Law and Management, Vol. 51 No. 5. https://doi.org/10.1108/ijlma.2009.01051eaa.001

Editorial

Article Type: Editorial From: International Journal of Law and Management, Volume 51, Issue 5.

As trade and commerce increasingly become transnational, the challenge to lawyers and policy makers becomes complex and new thinking challenges existing legal certainties and norms. In this issue of the Journal, we present five studies that reflect the tensions and uncertainties of this emerging legal order. In a study of financial services regulation in the UK, Kerry Howell seeks to demonstrate the difficulty to the creation of pan-European law, even in this imporant area. Is there a European law and approach that crosses states and legal traditions or are we left, in reality, with a concept of Europeanization that relies heavily on a localized and domestic response with obvious implications for the recognition of limits to European, or even international law? The study presented by Howell contributes to that debate.

In a similar vein of legal tradition and modern conflicts, the study presented by Rodríguez-Domínguez et al., examines the introduction and application of codes of ethics to Spanish Corporations. Unlike common law jurisdictions that have increasingly relied on private codes, many continental European countries have traditionally preferred the use of public regulation. In the important area of corporate management and behaviour, coupled with the global reach of many corporations and their investors, the need for a more informed and flexible code regime is increasing in recognition. This study provides an interesting insight into the influence and tensions of the approach adopted in Spain.

Interest in financial markets and corporate regulation remains high in all jurisdictions. The important role of independent and competent auditors, to offer investor and market protection, is widely accepted. In order to provide confidence to global investors and to secure its position, the United Arab Emirates recently introduced substantial changes to its regulatory and approval framework for auditors. In this Issue Mukdad Ibrahim presents a description of those changes and a consideration of their probable impact.

Online trading, e-commerce, the expansion of internet use generally is creating difficulties for those used to national legal concepts and certainty and those familiar with traditional conflict of law principles. This new world, cyber space, cannot, it appears, be effectively grounded in exising legal jurisprudence with its territorial traditions. Mohammad Mahabubur Rahman et al. provide an interesting account of the jurisprudential innovation required by lawmakers wishing to enter into this new world of “cyber space”.

Finally, the first part of a study of how changes to the corporate governance of the banking and insurance industries in Nigeria is presented by Fidelis Ogbuozobe. This study examines the global influence on changes in this area and then presents a case study of the development and impact of the changes in these important industries in Nigeria.

As usual, we hope you find all the papers and studies in this issue of interest.

James Kirkbride