Abstract

This paper discusses the increasing importance of public enforcement of company law, especially in the context of the regulation of capital markets. It is argued that specific rules of company law transform into securities law so as to be enforced by a public authority. The article shows some reasons for this development, especially the weaknesses of civil procedure law, in the light of the theory of collective action. It is predicted that the importance of public law and its figures of thought in the field of company law will continue to increase.

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