The distance between how much normalized in the legal order and what, in fact, is materialized by the apparatus of Brazilian criminal prosecution is a serious problem to be faced. It is necessary to delimit the activity of criminal investigation, with the aim, at the same time, to ensure efficiency in the elucidation of alleged criminal acts and the observance of the rights of Brazilian citizens, removing the false idea that respect for the rights of the target of the system of criminal prosecution means impetus to impunity. Such a situation will be faced with the creation of axioms, true filters for state action during the police investigation, that allow the correct collection of evidence, capable of triggering a process free of wrongdoing. In this way, the investigation that intends to strictly follow what is outlined by the Federal Constitution and the regulative legislation must be created by law, must be presided over by impartial, impartial and disinterested authority, can only be triggered with just cause freedom, to the detriment of incarceration), must be collected and based on lawful evidence, should only admit mitigation of individual rights if it proves effective necessity, must have a strictly investigative purpose (should not serve unambiguous objectives) and should guarantee minimum internal advertising (investigated / indicted science) and external (right to information society). / A distância entre o quanto normatizado no ordenamento jurídico e o que, de fato, é materializado pelo aparelho de persecução penal estatal brasileiro é problema sério a ser enfrentado. É preciso delimitar a atividade de apuração criminal, com o fito de, a um só tempo, garantir a eficiência na elucidação dos fatos supostamente criminosos e a observância dos direitos dos cidadãos brasileiros, afastando a falsa ideia de que o respeito dos direitos do alvo do sistema de persecução penal significa estímulo à impunidade. Tão situação será enfrentada com a criação de axiomas, verdadeiros filtros para atuação estatal durante o inquérito policial, que possibilitam a correta coleta de provas, aptas a deflagrar um processo livre de ilicitudes. Nesta senda, a investigação que pretende seguir estritamente o quanto delineado pela Constituição Federal e pela legislação de regência deve ser criada por meio de lei, deve ser presidida por autoridade impartial, imparcial e desinteressada, só pode ser deflagrada com justa causa (primando-se pela liberdade, em detrimento do encarceramento), deve colher e ser baseada em provas lícitas, só deve admitir mitigação de direitos individuais caso se demonstre efetiva necessidade, deve ter finalidade estritamente investigativa (não deve servir a objetivos escusos e inconfessáveis) e deve garantir mínima publicidade interna (ciência do investigado/indiciado) e externa (direito de informação da sociedade). / São Cristóvão, SE

Mercantile Law / LL. M. (Corporate Law)

Submitted by Marcia Bacha (marcia.bacha@fgv.br) on 2012-05-07T12:47:41Z No. of bitstreams: 1 Boaventura João Andrade.pdf: 804637 bytes, checksum: f59a7e925d0b8d5d49c92f20e7ab2c7c (MD5) / Approved for entry into archive by Marcia Bacha (marcia.bacha@fgv.br) on 2012-05-07T12:48:54Z (GMT) No. of bitstreams: 1 Boaventura João Andrade.pdf: 804637 bytes, checksum: f59a7e925d0b8d5d49c92f20e7ab2c7c (MD5) / Made available in DSpace on 2012-05-07T12:49:01Z (GMT). No. of bitstreams: 1 Boaventura João Andrade.pdf: 804637 bytes, checksum: f59a7e925d0b8d5d49c92f20e7ab2c7c (MD5) Previous issue date: 2011 / Este trabalho acadêmico é fruto da observação profissional cotidiana acerca da relação do Estado e de suas entidades de Direito Público com o particular. De modo algum propende a deslustrar teorias, opiniões e suporte jurídico favoráveis ao modelo diferenciado e casuisticamente pró-estatal vigente. Assim, na linha do eixo acadêmico-científico deste Mestrado, de caráter marcadamente profissional, buscou-se no campo do pluralismo de idéias descrever, num diapasão dialético, o contexto factual e jurídico-legal consoante os dois primeiros capítulos, para assim ensejar discussão e reflexão sobre matéria que se oferece relevante para a efetiva melhoria dos serviços jurisdicionais, submetendo-os, a seguir, a diretivas teóricas e, em particular, à compreensão contextual de nossa ordem constitucional. Partiu-se assim, de situações concretas vivenciadas no ambiente forense de uma unidade da Justiça Federal (2ª Vara da Justiça Federal de Petrópolis, da Seção Judiciária do Estado do Rio de Janeiro), sabidamente competente para as causas em que a União, entidades autárquicas ou empresa pública federal forem interessadas na condição de autoras, rés, assistentes ou opoentes1. O tema central do estudo são as prerrogativas processuais da Fazenda Pública. Vem de longe um conjunto de protetivo processual em seu favor. Para ficarmos no século XX, por exemplo, o art. 32 do Decreto-Lei nº 1.608, de 18 de setembro de 1939 (Código de Processo Civil) já explicitava: 'Art. 32. Aos representantes da Fazenda Pública contar-se-ão em quádruplo os prazos para a contestação e em dobro para a interposição de recurso.' O Código de Processo Civil atual conforme destacado na parte descritiva do texto, cuidou de aperfeiçoar e ampliar esse suporte pró-fazendário, como exemplo, o dispositivo mais conhecido é, seguramente, o art. 188 do Código de Processo Civil. No entanto, a multiplicidade de avanços no seio da sociedade brasileira – basicamente nos planos político, constitucional, legal, social, econômico, cultural, global e tecnológico – trouxe como corolário o imperativo da otimização dos mecanismos voltados para o que denominamos no trabalho de acesso qualificado à Justiça. Esse conjunto de fatores, em realidade, acha-se forrado pelos princípios da igualdade e da isonomia que permeiam todo o arcabouço de conquistas asseguradas no corpo político-jurídico constitucional. Nas palavras do professor e atual Ministro do Supremo Tribunal Federal Luiz Fux2, a neutralidade, sobretudo do juiz, constitui fator impediente para o magistrado manter a igualdade das partes na relação jurídica processual. Claro, frise-se, tanto quanto possível, isto é, observando a lei que, ao eventualmente promover, pontualmente, certo grau distintivo, o faça comprometida com a efetiva correção de discrímen para assim encontrar e assegurar a igualdade. Deve fazêlo, na linha desse pensamento, de modo a impedir que o resultado da aplicação da norma não seja expressão da deficiência e do desmerecimento de uma das partes em juízo. Tudo considerado importa que o entendimento ora realçado não se destine apenas ao juiz, mas no caso, também ao legislador, fonte criadora da normatividade posta em evidência. / This scholarly work is the result of daily professional observation about the relationship of the state and its entities of public law with the particular. Not at all, tends to tarnish theories, opinions and legal support in favor of the differentiated model and pro-state vigente. Assim case by case basis, in line with the axis of the academic and scientific Master of Professional markedly, we sought in the field of pluralism of ideas to describe in a dialectical pitch, the factual and legal context and legal according to the first two chapters, so give rise to discussion and reflection on matters that offers relevant to the effective improvement of judicial services, submitting them, then the theoretical and policy, In particular, the contextual understanding of our constitutional order. We started well in specific situations experienced in environmental forensic unit of the Federal Court (2nd Circuit Federal Court of Petropolis, the Judicial Section of the State of Rio de Janeiro), known to be responsible for cases in which the Union and autonomous agencies or federal public company have an interest as plaintiffs, defendants, assistants or opposing party. The central theme of the study are the procedural powers of the Treasury. Come by far one set of protective proceedings in his favor. To stay in the twentieth century, for example, art. 32 of Decree-Law No. 1608 of September 18, 1939 (Code of Civil Procedure) has made explicit: 'Art 32. The representatives of the Treasury will tell on the deadlines for quad and double challenge for appeal. 'The current Code of Civil Procedure as outlined in the descriptive part of the text, took care to improve and expand this support pro- Farmers, for example, the device is best known for sure the art. 188 of the Code of Civil Procedure. However, the multitude of advances in Brazilian society - primarily in the political, constitutional, legal, social, economic, cultural, global and technological - brought as a corollary of the imperative engine optimization focused on what we call access at work qualified to justice. This set of factors, in fact, finds himself lined by the principles of equality and equality that permeate the whole framework of achievements secured in the body politiclegal constitutional. In the words of the teacher and current Minister of the Supreme Court Luiz Fux, neutrality, especially the judge, is impediente factor for the magistrate to keep the equality of parties in the legal proceedings. Sure, He stated as far as possible, ie, observing the law, to eventually provide, promptly, some degree distinctive, committed to make the correction Discrimen effective way to find and ensure equality. It must do so in line with this thinking, in order to prevent the result of applying the standard is not the expression of disability and the unworthiness of a party in juízo.Tudo considered that the matter now enhanced understanding is not intended only to judge but in this case, to legislation, the creative source of normativity put in evidence.

本文研究美國退休福利保險公司(PBGC)保險價值的計算,延伸 Marcus (1987)模型,提出狀態轉換過程保險價值模型計算,也就是將市場分為兩種情況,正成長率視為正常狀態,負成長率為衰退狀態,利用狀態轉換過程評價 PBGC 契約在經濟困難而終止和介入終止下合理的保險價值。在參數估計方面,本文以 S&P500股價指數和一年期國庫券資料參數估計值及Marcus(1987)和Pennacchi and Lewis(1994)的方式給定參數,以 EM-PSO-Gradient 延伸 EM-Gradient 方法並以最大概似函數值、AIC 準則和 BIC 準則比較估計結果。最後固定其他參數, 探討狀態轉換過程保險價值模型對參數調整後保險價值的影響之敏感度分析。 / In this paper, we evaluate Pension Benefit Guaranty Corporation insurance values through regime switching models, which is the extension of the models of Marcus (1987). That is, we can separate periods of economy with faster growth from those with slower growth when observing long-term trends in economy and calculate the reasonable PBGC insurance values under distress termination and intervention termination by regime switching processes. We set parameters by estimating S&P 500 index and 1-year treasury bills by EM-PSO-Gradient, which is the extensive method of EM-Gradient and refer the methods of setting parameters from Marcus (1987) and Pennacchi and Lewis (1994). After that, we compare the maximum likelihood estimates, AIC and BIC of the estimative results. Finally, we do sensitivity analysis through given the other parameters and look into what would impact on our models of insurance values when adjusting one parameter.

Submitted by William Justo Figueiro (williamjf) on 2015-07-17T23:28:22Z No. of bitstreams: 1 36c.pdf: 2730615 bytes, checksum: 21d0ec2d0e490826e50bd6c4b6bb57e7 (MD5) / Made available in DSpace on 2015-07-17T23:28:22Z (GMT). No. of bitstreams: 1 36c.pdf: 2730615 bytes, checksum: 21d0ec2d0e490826e50bd6c4b6bb57e7 (MD5) Previous issue date: 2012-03-30 / Nenhuma / O direito de integração traz consigo novas funcionalidades estatais, fomentadas pela aproximação de seus membros. Uma delas é o estreitamento das relações entre seus poderes judiciários, aumentando a necessidade de melhorar a tramitação de atos judiciais. Esta correspondência passa a ser vista como um procedimento e não mais atos de cortesia internacional. Da mesma maneira, os judiciários devem seguir os procedimentos previstos em suas Constituições nacionais, nas leis internas e nos tratados internacionais. A análise da dúvida do aplicador do direito, no caso o juiz, evidencia como o processo internacional ainda é formado por uma multiplicidade complexa de normas, que deve ser interpretada no sentido de se buscar a eficácia e a economia processuais em detrimento da soberania judiciária, típica do modelo clássico. A pesquisa será conduzida através do método dedutivo, com uso de pesquisa bibliográfica nacional e estrangeira, descrevendo os modelos jurídicos internos dos países-membros do Mercosul e também das normas internacionais, traçando um paralelo com o modelo jurídico europeu. O instrumento processual utilizado para análise crítica são as cartas rogatórias que no Mercosul, tiveram sua função processual ampliada para matérias que antes eram naturais da homologação de sentenças estrangeiras. Tais inovações transformaram as rogatórias em mais importante instrumento processual, enquanto a lide está em curso, mas contrariamente não possui normas processuais claras de como devam ser cumpridas. O tratamento simplista que é dado termina com a criação de uma categoria única de rogatórias, enquanto deveriam haver ao menos três: as rogatórias executórias, de comunicação de atos processuais e de produção de provas. Cada uma delas deveria ter um rito próprio devido à necessidade de se facilitar o curso destas medidas, forçando a repensar o modelo processual vigente e, especificamente, propor algumas mudanças nas normas mercosulinas para harmonizar as normas de processo civil internacional, na tentativa de ordenar a multiplicidade normativa hoje existente. / Regional integration brings with it new State functionalities, stimulated by its members approximation. One of those is the tightening of relations among its judiciaries, amplifying the need to improve the processing of judicial acts. This correspondence turns to be a new due process, not courtesy acts anymore. Similarly, judiciaries must follow the processing must follow its Constitution, its local law, and treaties. The analysis of the question of the operator of law, in this case the judge, shows how the international process still consists of a multitude of complex rules that must be interpreted to seek procedural efficiency and economy at the expense of judicial sovereignty, typical the classical model. The research will be conducted through the deductive method, using national and international literature, describing the internal legal models of Mercosul State Parties and international laws, drawing a parallel with the European legal model. The procedural act used for review are the letters rogatory of Mercosul, which had his role expanded to procedural matters that were by its nature belonged to the foreign judgments. Such innovations transformed letters rogatory in the most important processing act while the procedure is in motion, but on the other hand, it doesn't have clear procedural rules on how it should be fulfilled. The simplistic treatment that is given to the matter, turns to create a new and uniform category of letters rogatory, while they should have at least three: enforcement letters, communication of procedural acts and taking evidence abroad. Each one should have its own procedure by reason of the need to ease the course of these measures, forcing to rethink the current process model and, specifically, to propose some changes in Mercosul laws to harmonize the international civil proceedings in an attempt to order the legal multitude that exists today.

保險制度的經濟效能係在確保保戶經濟生活之安定，倘若保險業者經營不 善以致失卻清償能力，則不僅保戶權益受損，亦會造成社會及經濟不安定 ，有鑑於此，美國於西元一九三五年創設保險安定基金制度，至今，各國 亦紛紛設立此制度。由各國經驗可知，事前防範措施（如保証金之提存、 邊際清償能力標準之訂定、資金運用之規範等）雖可減低保險人失卻清償 能力的機率，但仍無法保証不發生失卻清償能力事件，故有賴事後救濟措 施為之補救，我國於民國六十三年已設立人壽保險業安定基金，但於民國 七十年底因基金累積已達總額而停徵，之後，於民國八十一年修正保險法 時，明訂保險安定基金之設置，自此，我國保險公司如經營發生危機，危 害保戶權益時，保戶即可依一定程序向保險安定基金求償，使投保大眾的 權益多一層保障。 Guaranty Fund in Taiwan

這篇論文研究跨國投資與監理寬容下保險公司之破產問題，同時論文的相關內容簡述於論文第一章中。第二章研究考慮匯率可預測下對跨國投資人資產配置的影響，結果顯示匯率可預測性能有效的提升投資人期末財富。第三章考慮監理寬容下保險公司的破產問題，在美國破產保護法第11章的架構下，保險人與被保險人之權利義務關係，可利用巴黎式選擇權描述，同時建構保證給付指標來衡量不同監理干預準則，數值結果顯示過於寬鬆的監理準則將導致被保險人的財務損失。第四章探討監理寬容下保險安定基金保險費率問題，依照美國破產保護法第11章的架構，安定基金保費可簡化成2個巴黎式選擇權，結果顯示，當前台灣保險單定基金費率有偏低的情形，建議主管機關訂定安定基金費率時需更加謹慎小心。 / This thesis focuses on the international portfolio selection and the bankruptcy cost of the insurance company under regulatory forbearance. The main theme of this thesis is outlined in chapter 1, which also serves as an introduction to the three papers (appearing here as Chapter 2, Chapter 3 and Chapter 4) collected in this thesis. In the theme of the international portfolio selection, Chapter 2 investigates the investment behaviors when learning effect is considered. According to the exchange rate predictability, the investor updates his information and adjusts his portfolio allocation. Finally, the numerical results show that the learning mechanism significantly improves the terminal wealth. In the theme of the regulatory forbearance, Chapter 3 provides an illustration of the impact on the ruin cost due to regulatory forbearance. The concept of the U.S. Chapter 11 bankruptcy code is employed to determine regulatory forbearance. Throughout the framework of Parisian option, a quantitative index of regulatory forbearance called Guarantee Benefit Index (GBI) is developed. The GBI is used to evaluate the different supervisory intervention criteria i.e., relative and absolute intervention criteria. Finally, numerical analysis is performed to illustrate the influence of different financial factors and the intervention criteria. Another important issue in bankruptcy problem is discussed in Chapter 4, i.e., the cost of insurance guaranty fund. It is important to determine the cost of bankruptcy when the insolvent insurance company is took over by the government. Under the U.S. Chapter 11 bankruptcy code, the cost of guaranty fund can be determined through Parisian options. Results show that the current premium rates of Taiwan insurance guarantee fund are far from risk sensitive. Hence the results suggest the government should more prudent to face the bankruptcy problem in insurance industry.

Bank demand guarantees have become an established part of international trade. Demand guarantees, standby letters of credit and commercial letters of credit are all treated as autonomous contracts whose operation will not be interfered with by courts on grounds immaterial to the guarantee or credit itself. The idea in the documentary credit transaction/demand guarantee transaction is that if the documents (where applicable) presented are in line with the terms of the credit/guarantee the bank has to pay, and if the documents do not correspond to the requirements, the bank must not pay. However, over the years a limited number of exceptions to the autonomy principle of demand guarantees and letters of credit have come to be acknowledged and accepted in practice. In certain circumstances, the autonomy of demand guarantees and letters of credit may be ignored by the bank and regard may be had to the terms and conditions of the underlying contract. The main exceptions concern fraud and illegality in the underlying contract. In this thesis a great deal of consideration has been given to fraud and illegality as possible grounds on which payment under demand guarantees and letters of credit have been attacked (and sometimes even prevented) in the English, American and South African courts. It will be shown that the prospect of success depends on the law applicable to the demand guarantee and letter of credit, and the approach a court in a specific jurisdiction takes. At present, South Africa has limited literature on demand guarantees, and the case law regarding the grounds upon which payment under a demand guarantee might be prevented is scarce and often non-existent. In South Africa one finds guidance by looking at similar South African case law dealing with commercial and standby letters of credit and applying these similar principles to demand guarantees. The courts, furthermore, find guidance by looking at how other jurisdictions, in particular the English courts, deal with these issues. Therefore, how the South African courts currently deal/should be dealing/probably will be dealing with the unfair and fraudulent calling of demand guarantees/letters of credit is discussed in this thesis. / Jurisprudence / LL.D

Bank demand guarantees have become an established part of international trade. Demand guarantees, standby letters of credit and commercial letters of credit are all treated as autonomous contracts whose operation will not be interfered with by courts on grounds immaterial to the guarantee or credit itself. The idea in the documentary credit transaction/demand guarantee transaction is that if the documents (where applicable) presented are in line with the terms of the credit/guarantee the bank has to pay, and if the documents do not correspond to the requirements, the bank must not pay. However, over the years a limited number of exceptions to the autonomy principle of demand guarantees and letters of credit have come to be acknowledged and accepted in practice. In certain circumstances, the autonomy of demand guarantees and letters of credit may be ignored by the bank and regard may be had to the terms and conditions of the underlying contract. The main exceptions concern fraud and illegality in the underlying contract. In this thesis a great deal of consideration has been given to fraud and illegality as possible grounds on which payment under demand guarantees and letters of credit have been attacked (and sometimes even prevented) in the English, American and South African courts. It will be shown that the prospect of success depends on the law applicable to the demand guarantee and letter of credit, and the approach a court in a specific jurisdiction takes. At present, South Africa has limited literature on demand guarantees, and the case law regarding the grounds upon which payment under a demand guarantee might be prevented is scarce and often non-existent. In South Africa one finds guidance by looking at similar South African case law dealing with commercial and standby letters of credit and applying these similar principles to demand guarantees. The courts, furthermore, find guidance by looking at how other jurisdictions, in particular the English courts, deal with these issues. Therefore, how the South African courts currently deal/should be dealing/probably will be dealing with the unfair and fraudulent calling of demand guarantees/letters of credit is discussed in this thesis. / Jurisprudence / LL.D