Transnational Investment and Trade in Securities in the COMESA Region

This book constitutes Volume I of the author's work on legal, regulatory and institutional constraints on cross-border investment and trade in securities in the COMESA Region. Volume II examines mainly constraints within the enabling environment for cross-border investment and trade in securities in the region. Volume I examines mainly constraints on the proprietary aspects of a cross-border securities transaction. Volume I is underscored by the view that, driven by various factors in their formulation and hindered by various constraints in their application, the legal, regulatory and institutional frameworks for public distribution of securities across international borders in the region have had limited success in facilitating efficient cross-border disposition and acquisition of securities. The central argument of this book is that, increasing demand and supply of a wide range of securities to securities markets, replacing lex situs the Hague Securities Convention PRIMA rule, introducing a COMESA stock exchange, a COMESA compensation fund, and a COMESA securities markets regulator, and promoting cross-listing is likely to promote international investment and trade in securities.