Banking law Books
Oxford University Press Principles of Banking Law
Book SynopsisThis third edition of the Principles of Banking Law provides a unique and authoritative treatment of both domestic and international banking law. Assembled by a group of expert authors, this new edition contains expanded coverage of developments in the fields of regulation, payment, lending, and capital markets.Table of ContentsPART I: BANKS, BANKING AND BANK REGULATION ; 1. Banking and Bank Organisations ; 2. Interbank Networks ; 3. Bank Regulation ; 4. Central Banking ; PART II: BANKS AND THEIR CUSTOMERS ; 5. The Banker-Customer Relationship ; 6. The Duty of Confidentiality ; 7. Advisory and Transactional Liability ; PART III: PAYMENT AND PAYMENT SYSTEMS ; 8. Principles of Payment ; 9. Payment Methods ; 10. Settlement, Clearing and Netting ; PART IV: BANKS AND FINANCE ; 11. Lending ; 12. Securities, their distribution and regulation ; 13. Loan Sales and Securitization ; 14. Trade Finance ; 15. Security ; PART V: THE INTERNATIONAL DIMENSION ; 16. International Banking ; 17. Cross-Border Banking
£58.89
Edward Elgar Publishing Ltd EU Market Abuse Regulation: A Commentary on
Book SynopsisThis comprehensive Commentary examines the implications of the EU’s Market Abuse Regulation, introduced following the 2008 financial crisis after gaps were identified in the existing regulatory framework. It explores whether and how the Regulation achieves its aims of preserving the integrity of financial markets by preventing insider dealing and market manipulation, providing a harmonised legal framework, and increasing legal certainty for all market participants.Key features include: in-depth contributions from leading scholars and practitioners in the field practical discussion of the interpretation and implementation of the Regulation, including pertinent national and European case law systematic article-by-article analysis of the Regulation, illuminating the purpose of each provision as well as providing relevant historical and legal context Scholars of EU financial and banking law, particularly those with an interest in market abuse and financial crime and corruption, will find this Commentary a valuable resource. It will also be of great practical benefit for practitioners and in-house counsel working for or with banks, investment firms and other financial institutions.Trade Review‘This book provides an exhaustive analysis of the Market Abuse Regulation, which, despite Brexit, continues to be of core concern to practitioners in this area, for two reasons. First, the Regulation continues as part of domestic UK law as “retained EU law” and, second, its status in relation to EU financial markets remains undisturbed. This book, written by a distinguished group of scholars, lays out, article by article, a complete analysis of the Regulation and its now extensive accompanying pieces of secondary legislation and CJEU decisions. It brings together in a single volume a clear and incisive assessment of all the issues arising, and likely to arise, in the regulation of this notoriously challenging area of market behaviour.’ -- Paul L. Davies QC, University of Oxford, UK‘This is an invaluable guide to the Market Abuse Regulation. It is well structured and formatted allowing the reader to access the relevant information with ease. It provides useful information on the context and historical development of the various provisions and highlights the significant changes to the existing law. It identifies the objectives of each of the Articles providing links to relevant literature, caselaw, related legislation and guidance. The authors are experts in their fields and together they provide insights into the salient academic, public service, public policy, regulatory, jurisprudential, and practical dimensions of the Regulation. Although particular reference is made to the application of the market abuse regime in Austria, France, Germany and the UK, this text will provide a valuable resource to academics, regulators and practitioners in all Member States seeking to understand and implement the Market Abuse Regulation.’ -- Blanaid Clarke, Trinity College Dublin, Ireland‘If you have any question about the EU’s Market Abuse Regulation and its interpretation, look no further. This book provides a profound and authoritative analysis of each of its sections, as well as an excellent survey of private enforcement of capital markets law in Europe. It will be very useful to anyone working in European capital markets law.’ -- Martin Gelter, Fordham University School of Law, USTable of ContentsContents: 1 Subject matter 1 Elena Guggenberger 2 Scope 4 Elena Guggenberger 3 Definitions 10 Elena Guggenberger 4 Notifications and list of financial instruments 29 Elena Guggenberger 5 Exemption for buy-back programmes and stabilisation 33 Susanne Kalss 6 Exemption for monetary and public debt management activities and climate policy activities 52 Susanne Kalss 7 Inside information 56 Mario Hössl-Neumann and Ulrich Torggler 8 Insider dealing 82 Martin Winner 9 Legitimate behaviour 116 Martin Winner 10 Unlawful disclosure of inside information 139 Mario Hössl-Neumann and Ulrich Torggler 11 Market soundings 154 Mario Hössl-Neumann and Ulrich Torggler 12 Market manipulation 169 Susanne Kalss 13 Accepted market practices 182 Susanne Kalss 14 Prohibition of insider dealing and of unlawful disclosure of inside information 190 Martin Winner 15 Prohibition of market manipulation 195 Martin Oppitz 16 Prevention and detection of market abuse 199 Florian Kusznier 17 Public disclosure of inside information 203 Susanne Kalss and Clemens Hasenauer 18 Insider lists 243 Ursula Rath 19 Managers’ transactions 261 Susanne Kalss and Clemens Hasenauer 20 Investment recommendations and statistics 297 Martin Oppitz 21 Disclosure or dissemination of information in the media 303 Martin Oppitz 22 Competent authorities 309 Peter Jedlicka 23 Powers of competent authorities 317 Peter Jedlicka 24 Cooperation with ESMA 327 Alfred Schramm 25 Obligation to cooperate 331 Alfred Schramm 26 Cooperation with third countries 341 Alfred Schramm 27 Professional secrecy 348 Alfred Schramm 28 Data protection 352 Alfred Schramm 29 Disclosure of personal data to third countries 353 Alfred Schramm 30 Administrative sanctions and other administrative measures 354 Michael Rohregger and Nina Palmstorfer 30A Appendix to Art 30 MAR – Private enforcement 360 Chris Thomale 31 Exercise of supervisory powers and imposition of sanctions 414 Michael Rohregger and Charlotte Pechhacker 32 Reporting of infringements 418 Michael Rohregger and Charlotte Pechhacker 33 Exchange of information with ESMA 424 Michael Rohregger and Charlotte Pechhacker 34 Publication of decisions 428 Michael Rohregger and Nina Palmstorfer 35 Exercise of the delegation 432 Elisabeth Drach 36 Committee procedure 435 Elisabeth Drach 37 Repeal of Directive 2003/6/EC and its implementing measures 437 Elisabeth Drach 38 Report 439 Elisabeth Drach 39 Entry into force and application 441 Elisabeth Drach Annex I 443 Annex II 445 Index 450
£192.85
Edward Elgar Publishing Ltd Payment Services: Law and Practice
Book SynopsisThe rise of Fintech and crypto-assets in the payments sector presents new opportunities and challenges for firms, regulators and policymakers, and the law is continually changing to keep pace with these developments. This book provides an overview and practical examination of key areas of payments law and regulation in the EU and UK, as well as introductions to analogous legal regimes in the United States, Hong Kong, Singapore and sub-Saharan Africa. Key features include: Practical guidance for firms navigating payments regulation Coverage of a broad range of legal and regulatory issues affecting payments Contributions by leading legal practitioners who advise on the relevant topics on a daily basis Discussion of the latest technological developments in the sector and corresponding regulatory responses. This book will be an essential resource for lawyers, in-house counsel and compliance officers in the payments and Fintech sectors. Law students and academics interested in legal and regulatory issues relating to payments will also benefit from this comprehensive book.Table of ContentsContents vi 1 Introduction to Payment Services: Law and Practice 1 John Casanova and Max Savoie 2 Fintech and payments 5 Anne Bodley and Susan Brice 3 The regulatory framework for payment services in the EU and UK 37 John Casanova, Max Savoie and Abi Twist 4 Regulation of payment systems 101 John Casanova, Max Savoie and Abi Twist 5 Financial crime and enforcement against payments firms and payments systems 128 Sara George, Tom Hunter and Rachpal Thind 6 Payments and EU data protection law 183 Francesca Blythe and Vishnu Shankar 7 Payments and blockchain/crypto-assets 205 Matt Feehily 8 EU competition law and payments 253 Vincent Brophy 9 US payment services 282 Gretchen E. Lamberg 10 Hong Kong payment services 302 Lester Fung and Linh Lieu 11 Singapore payment services 317 Josephine Law 12 Mobile payment services in Africa 338 Qalid Mohamed Index 354
£152.95
Bloomsbury Publishing PLC Banking and Capital Markets Companion
Book SynopsisBanking and Capital Markets Companion, 6th edition provides a clear and concise examination of the law, practice and procedure of fund raising in the banking and capital markets. It covers loans, debt securities, derivatives and security for debt using graphics, flowcharts, bullets and summaries to present the subject in an analytical format that is easy to read and recall. It is based on industry standard materials of the Loan Market Association, the International Capital Markets Association, the International Swaps and Derivatives Association and the British Bankers Association and the new edition has been comprehensively revised and updated to take account of new legislation, regulation and case law. There has been considerable change in this area of law since the last edition published. The book is updated to reflect the LIBOR (London Interbank Offered Rate) practice and sovereign debt short selling restrictions and significant case law on Marshalling and ISDA Master Agreements. The tax section is updated to take account of the 2011, 2012, 2013 and 2014 Finance Acts. Legislation and case law includes: Financial Services Act 2012 setting up the new UK financial structure; 2011, 2012, 2013 and 2014 Finance Acts; Capital Requirement Directives 3 and 4; Regulation on derivative market infrastructure (EMIR); Short Selling Regulation; Amendments of Prospectus Directive, Financial Collateral Arrangements, Credit agencies regulations, regulation of restrictions on selling of securities - resulting in UK orders amending domestic law. Contents: 1. Debt Finance; 2. Basics; 3. Banking; 4. Loans; 5. Debt Securities; 6. Collateral and guarantees; 7. Derivatives; 8. Opinions; 9. Sovereign Debt; 10. Taxation. Banking and Capital Markets Companion is a much-needed guide for postgraduates studying for their MA, LLM or LPC. It is also an excellent single-volume reference guide for all banking executives, practitioners and newly qualified lawyers seeking a quick answer, or a starting point for in-depth research, on a particular aspect of the subject. Previous print edition ISBN:9781847663085Table of Contents1. Debt Finance: A. Introduction B. Debt finance C. Funding requirements; 2. Basics: A. Relationships B. Documentary principles C. Contractual principles D. Governing law E. Interpretation F. Misrepresentation G. Set-off and netting H. Credit ratings; 3. Banking: A. Banking business B. Banking regulation C. Funding; 4. Loans: A. Preliminary aspects B. Loan agreement C. Short-term facilities D. Trading in loan assets; 5. Debt Securities: A. Nature of debt securities B. Bond issue process C. Bond documentation D. Other debt instrument E. Convertibles and warrants; 6. Collateral and guarantees: A. Collateral B. Guarantees; 7. Derivatives: A. Products B. Nature C. Documentation; 8. Opinions: A. Opinions; 9. Sovereign Debt: A. Introduction B. Documentary issues C. Rescheduling D. Recognition and succession; 10. Taxation: A. UK tax net B. Corporation tax (CT) C. Debt D. Stamp duty E. Stamp duty reserve tax (SDRT) F. Bank levy (outline).
£61.75
Edward Elgar Publishing Ltd EU Banking and Financial Regulation
Book SynopsisTable of ContentsContents: PART I EU SUPERVISORS 1 Introduction on EU supervisors 7 2 European Banking Authority 11 3 European Securities and Markets Authority 23 4 European Insurance and Occupational Pensions Authority 33 5 European Central Bank 41 6 European Systemic Risk Board 49 PART II BANKING 7 Introduction on banking 55 8 Banking activities and institutions 59 9 Single Supervisory Mechanism 92 10 Bank Recovery and Resolution Directive 110 11 Single Resolution Mechanism 132 12 Reorganisation and winding-up of credit institutions 141 13 Deposit guarantee schemes 150 14 Non-performing Loans Directive 159 PART III SECURITIES 15 Introduction on securities 16 Prospectus 170 17 Transparency 183 18 Short selling 191 19 Takeover bids 198 20 Shareholders’ Rights Directive II 206 PART IV FINANCIAL MARKETS 21 Introduction on financial markets 214 22 MiFID II 219 23 IFR/IFD 243 24 Market abuse 253 25 Securities Financing Transactions Regulation 267 26 The Securitisation Regulation 275 27 Credit rating agencies 283 PART V DERIVATIVES, COLLATERAL MANAGEMENT AND POST-MARKET 28 Introduction on derivatives, collateral management and post-market 295 29 EMIR 302 30 Recovery and resolution of central counterparties 323 31 Settlement Finality Directive 337 32 Securities settlement and central securities depositories 343 33 Financial collateral arrangements 354 PART VI BENCHMARKS 34 Introduction on benchmarks 362 35 Benchmarks 365 PART VII FUNDS 36 Introduction on funds 378 37 Undertakings for Collective Investment in Transferable Securities 381 38 AIFMD 391 39 IFR/IFD 406 40 European Venture Capital Funds 412 41 ELTIF 418 42 Money Market Funds Regulation 426 43 Cross-border fund distribution 434 PART VIII INSURANCE 44 Introduction on insurance 442 45 Solvency II 445 46 Insurance Distribution Directive 467 PART IX PENSIONS 47 Introduction on pensions 480 48 Institutions for Occupational Retirement Provision II Directive 482 49 Pan-European Pension Product Regulation 488 PART X MARKETING 50 Introduction on marketing 497 51 Distance marketing of financial services 500 52 PRIIPs 508 PART XI PAYMENT SERVICES/E-MONEY 53 Introduction on payment services/e-money 517 54 Payment services 521 55 E-money 530 56 Payment accounts 535 57 Interchange fees 540 58 SEPA 547 59 Cross-border payments in the Union 553 PART XII COMPLIANCE 60 Introduction on compliance 558 61 Anti-money laundering and terrorist financing 561 62 Information accompanying transfer of funds 573 PART XIII CONSUMER CREDIT PROTECTION 63 Introduction on consumer credit protection 579 64 Consumer credit 581 65 Mortgage credit 591 PART XIV CROWDFUNDING 66 Introduction on crowdfunding 599 67 Crowdfunding 601 PART XV SUSTAINABLE FINANCE 68 Introduction on sustainable finance 611 69 SFDR 615 70 Taxonomy 625 71 Non-Financial Reporting Directive 634 72 Corporate Sustainability Reporting Directive 639 PART XVI DIGITAL FINANCE 73 Introduction on digital finance 646 74 DLT 649 75 MiCA 653 76 DORA 661
£232.75
Oxford University Press Derivatives Regulation
Book SynopsisDerivatives Regulation - Rules and Reasoning from Lehman to Covid provides an indepth examination of the changes made to the regulation of derivatives that were enacted following the global financial crisis of 2008, considering the motivations behind these changes and including insights from the Covid pandemic.Key areas of derivatives regulatory reform are examined, including bank capital and leverage rules, the clearing mandate, uncleared margin rules, and the principles for the regulation of central counterparties. After providing an overview of the global financial crisis, the motivations for these reforms in its immediate aftermath are considered, as well as the impact of these rules on the financial system, using insights from the market stress around the onset of the Covid pandemic in 2020. The book analyses the construction of financial regulation, as well as its nature and how this should be assessed, using tools from the law, economics, and regulatory theory. Global administrative law, cost benefit analysis, and the results of regulatory interventions in other areas throw light on the legitimacy, efficiency, and effectiveness of derivatives regulation. Insights from international political economy are also discussed, situating financial regulation within the regulatory state, while showing how its institutional arrangements shape regulatory outcomes. Suggestions for improving both rules and regulatory processes are considered in the conclusion of the book.Table of ContentsPreface Introduction 1: Core Ideas in Derivatives 2: The 2008 Crisis 3: The Financial System during Covid 4: The Basel 3 Leverage Ratio 5: Risk-based Capital Regulation 6: Clearing and Collateralisation 7: Central Counterparties and their Regulation 8: Legal Perspectives on Financial Regulation 9: The Quantitative Analysis of Financial Regulation 10: Derivatives Regulation as Modelling 11: Perspectives from Social and Political Science 12: Rules and Arrangements in Derivatives Regulation
£94.00
Oxford University Press Inc Driverless Finance Fintechs Impact on Financial
Book SynopsisEveryone is talking about fintech, and they''re usually saying good things. Driverless Finance provides a balance to that conversation, exploring the threats that different fintech innovations pose for our financial system. With in-depth and accessible descriptions of new financial technologies and business models - ranging from distributed ledgers to machine learning, cryptoassets to robo-investing - this book allows readers to think more critically about fintech, and about how the law should respond to it.This book highlights the increased speed, complexity, and coordination inherent in new fintech innovations, and illustrates how these features could come together in a massive financial system failure. It makes the case for a precautionary approach to regulating fintech, erring on the side of caution to avoid a financial crisis that could have irreversible and catastrophic effects for our society. Because neither longstanding regulatory approaches nor experimental new approaches like regulatory sandboxes were designed to address fintech''s systemic risks, this book makes several bold new proposals for regulation designed to make fintech-inspired financial crises less likely. These proposals include new forms of disclosure and supervision, new forms of technological tools (known as suptech), and a new licensing regime for financial technologies. This book finishes by situating its discussion of fintech and financial stability in the context of important debates about innovation, expertise, cybersecurity, privacy, competition, and other pressing issues.Table of ContentsPrologue Introduction Part I: The Case for Precaution Chapter 1: The Case for Precaution Part II: Fintech Threats to Financial Stability Chapter 2: Fintech and Risk Management Chapter 3: Fintech and Capital Intermediation Chapter 4: Fintech and Payments Part III: Regulating Fintech and Financial Stability Chapter 5: Current Approaches to Fintech and Financial Stability Regulation Chapter 6: Precautionary Regulation of Fintech Innovation Chapter 7: The Bigger Picture Conclusion
£51.00
Oxford University Press Principles of International Financial Law
Book SynopsisThe third edition continues to provide succinct analysis of the principles, rules, and concepts underpinning the practice of international finance and is updated to include cryptocurrencies and technology in financial markets.Table of Contents1: Introduction 2: Money 3: Payment 4: Personal and Property Rights 5: Intangibles as Property 6: The Legal Nature of the International Bond Market 7: Fiduciary Duties and How They Arise 8: Fiduciary Duties in Financial Markets 9: Credit Support in Financial Markets 10: Security Interests 11: The Construction of Financial Contracts
£185.00
Oxford University Press EU Securities and Financial Markets Regulation
Book SynopsisOver the decade or so since the global financial crisis rocked EU financial markets and led to wide-ranging reforms, EU securities and financial markets regulation has continued to evolve. The legislative framework has been refined and administrative rulemaking has expanded. Alongside, the Capital Markets Union agenda has developed, the UK has left the EU, and ESMA has emerged as a decisive influence on EU financial markets governance. All these developments, as well as the Covid-19 pandemic, have shaped the regulatory landscape and how supervision is organized. EU Securities and Financial Markets Regulation provides a comprehensive, critical, and contextual account of the intricate rulebook that governs EU financial markets and its supporting institutional arrangements. It is framed by an assessment of how the regime has evolved over the decade or so since the global financial crisis and considers, among other matters, the post-crisis reforms to key legislative measures, the massive expansion of administrative rulemaking and of soft law, the Capital Markets Union agenda, the development of supervisory convergence as the means for organizing pan-EU supervision, and ESMA''s role in EU financial markets governance. Its coverage extends from capital-raising and the Prospectus Regulation to financial market intermediation and the MiFID II/MiFIR and IFD/IFR regimes, to the new regulatory regimes adopted since the global financial crisis (including for benchmarks and their administrators), to retail market regulation and the PRIIPs Regulation, and on to the EU''s third country regime and the implications of the UK''s departure from the EU.This is the fourth edition of the highly successful and authoritative monograph first published as EC Securities Regulation. Heavily revised from the third edition to reflect developments since the global financial crisis, it adopts the in-depth contextual and analytical approach of earlier editions and so considers the market, political, institutional, and international context of the regulatory and supervisory regime.Table of Contents1: The institutional setting 2: Capital-raising 3: Collective-investment management 4: Investment firms and investment services 5: Trading venues 6: Trading 7: Rating agencies 8: Market abuse 9: Retail markets 10: Third countries
£175.50
Oxford University Press Credit Risk Mitigation and Synthetic Securitization
£243.17
Oxford University Press Ellingers Modern Banking Law
Book SynopsisEllinger''s Modern Banking Law sets banking law against the background of general legal doctrines and banking regulation, discussing its operation in the context of its wider economic function. It makes use of American, Canadian, New Zealand and Australian examples and takes account of the changes promoted by the recent global financial crisis. It provides analysis of the banker and customer relationship, explaining the different types of accounts available, the duties and the liabilities of banks, and the latest processes used in the clearance of cheques, plastic money and electronic money transfers. Issues relating to overdrafts, bank loans, credit agreements, and securities for bankers'' advances are covered.This is a significant book for undergraduates and postgraduates alike, as well as practitioners, providing comprehensive and up-to-date coverage.Online Resource CentreWeblinks and twice-yearly updates will be available on an Online Resource Centre accompanying the book.Table of ContentsPART I BANKS AND BANKING BUSINESS; PART II THE BANK AS MONETARY AGENCY IN DOMESTIC TRANSACTIONS; PART III THE BANK AS FINANCIER AND LENDER IN DOMESTIC TRANSACTIONS
£60.79
Taylor & Francis Strategies for Compliance
Book SynopsisCompliance is a fundamental control function within regulated industries globally. This book provides an expert introduction to corporate compliance using cases, examples and insights from the financial services sector and beyond.The author, an experienced compliance practitioner and academic, highlights compliance challenges, using examples such as Wells Fargo, whistleblowing in the financial services and the mis-selling of payment protection insurance in the UK banking sector. The book explores strategies for creating compliant cultures and fostering regulatory trust, whilst practical guidance is provided on anticipating regulatory changes. Addressing organisational obstruction and delay, the author presents a series of valuable tools and techniques for real-world practice.An essential professional development resource for board directors, compliance officers and other senior managers, the book also provides a unique learning and development resource for students of Table of Contents1. Introduction 2. A New Approach to Compliance and the Lessons from Wells Fargo 3. Compliance and ‘Whistleblowing’ and Corporate Psychology 4. Compliance and Regulators 5. Finding the Right People and the Key Functions of the Compliance Organisation 6. The Operational Tools of Compliance 7. ‘Culture’ within a Business 8. Training Corporate Organisations to be Compliant 9. Lessons for Compliance Officers from Regulatory Enforcement 10. Lessons for Compliance Officers from Regulatory Enforcement Actions and Guidance 11. Conclusion Appendix: List of Abbreviations Bibliography
£43.69
Taylor & Francis Ltd EU Competition Law and the Financial Services
Book SynopsisCompetition law is a complex and constantly evolving area of law which affects every aspect of the market economy, including the financial services sector. This book is a comprehensive and practical guide to the application of the EU competition rules to banking and insurance industries.This book is divided into two parts: the first part explores the application of Articles 101, 102 and 107 TFEU to the insurance industry. Emphasis is placed on recent changes which have progressively eroded the block exemption regime that traditionally benefited the insurance industry.In the second part of the book, focus is on the application of the Articles of TFEU to the banking industry, with specific reference to card payment systems, which give rise to some of the most intricate antitrust issues in the financial services sector. Relevant Commission decisions and European Court of Justice case law are discussed and suggestions are made for an alternative regulatory framework througTrade Review"Dr Andrea Lista has provided a detailed, well-structured and thought provoking analysis of very topical issues in relation to the enforcement of competition law in the financial services sector. This sector has been at the forefront of the debate in the last few years, especially as a result of the recent financial crisis... Dr Lista's contribution to this debate is very welcome as it provides a coherent assessment of the particularities of the financial sector and of the way that competition policy should be applied in this sector."- Professor Ioannis Kokkoris, Chair in Law and Economics, School of Law, University of Reading, UK"Professor Lista contributed a very well-structured and thought provoking book on the thorny issues arising from the enforcement of competition law in the financial services industry. Such a book is likely to become an exceptional point of reference for students, researchers and practitioners of competition law in the field of banking and insurance markets. In few words, it represents a valuable contribution to shed light on the steps to be built in the financial sector for a robust stairway to competition heaven."- Dr Valerio TortiProfessor Ioannis Kokkoris, Chair in Law and Economics, School of Law, University of Reading"Dr Andrea Lista has provided a detailed, well-structured and thought provoking analysis of very topical issues in relation to the enforcement of competition law in the financial services sector. This sector has been at the forefront of the debate in the last few years, especially as a result of the recent financial crisis... Dr Lista's contribution to this debate is very welcome as it provides a coherent assessment of the particularities of the financial sector and of the way that competition policy should be applied in this sector."Table of Contents1. The Meaning of EU Competition Law 2. The Application of EU Competition Law to the Financial Services Sector: General Issues 3. Setting the Scene: the application of Art. 101 to the Insurance Sector 4. The Recent Past Scenario: Regulation 358/2003 5. Regulation 267/2010: the Current Regulatory Framework for Horizontal Agreements in the Insurance Sector 6. The Way Forward: A future without the EU Insurance Block Exemption 7. Art. 102 TFEU and Mergers and Acquisitions in the Insurance Sector 8. State Aid and the Insurance Sector 9. The Application of EU Competition Rules to the Banking Industry: General Isssues 10. Art. 101 TFEU and Price Competition Issues in the Banking Sector 11. Payment Card Systems and Competition Concerns: Multilateral Interchange Fees and No-discrimination Rules 12. Art. 101 and Non-Price Competition Issues in the Banking Sector 13. Art. 102 and Mergers and Acquisitions in the Banking Sector 14. Art. 102 and Clearing and Settlement Services in the Banking Sector 15. State Aid in the Banking Sector Appendices
£285.00
John Wiley & Sons Inc Banking Law and Practice
Book SynopsisA solid understanding of how banks operate is crucial to grasp the functioning of modern society. Banks are an intrinsic part of business, finance, and everyday life. Modern banking is regulated by a sophisticated set of laws and regulations that are constantly evolving. Banking Law and Practice from the Hong Kong Institute of Bankers outlines and explains these laws and regulations clearly and in detail. This regulatory framework has a deep impact on banks, bankers, and anyone that deals with them, which is the overwhelming majority of society. This high level of impact makes Banking Law and Practice an important book as well as a necessary and authoritative reference for industry professionals, students, and the public at large. Banking Law and Practice discusses a range of topics that have a direct bearing on the day-to-day operations of banks, from contracts to how to ensure safe and secure lending. It examines the development and current state of banking legislation and reguTable of ContentsPreface ix PART 1 BANK-CUSTOMER RELATIONSHIP AND ACCOUNT OPENING 1 1 Contractual Relationships in Law and Practice 3 Learning Objectives 3 Introduction 4 Definition of ‘Customer’ 4 Nature of the Banker-Customer Relationship 5 Laws and Practice 7 Mandates 9 Power of Attorney 11 Limitation of Actions 14 Appropriation of Payments 15 Set-off 17 Banker’s Lien 20 Banker’s Duty of Secrecy 21 Personal Data and Consumer Credit Data 28 Statement of Account or Passbook 33 Wrongful Dishonour of Cheques 34 Exemption Clauses 36 Summary 37 Key Terms 38 Study Guide 39 Further Reading 39 2 Opening and Conduct of Accounts 41 Learning Objectives 41 Introduction 42 Opening of an Account 42 Conduct of Account 44 Closing of Account 51 Opening and Conduct of Accounts for Various Customers 52 Defi nition of Different Types of Authorities 82 Anti-Money Laundering and Counter-Terrorist Financing 85 Summary 98 Key Terms 99 Study Guide 100 Further Reading 100 PART 2 BANKING OPERATIONS 101 3 Bills of Exchange and Promissory Notes 103 Learning Objectives 103 Introduction 104 Negotiable Instruments 104 Bills of Exchange 107 Promissory Notes 124 Summary 127 Key Terms 128 Study Guide 128 Further Reading 129 4 Other Banking Operations 131 Learning Objectives 131 Introduction 132 Credit Cards 132 Direct Debiting 138 Automated Teller Machines 141 Electronic Funds Transfer at the Point of Sale 143 Investment Advice 144 Safe Custody 146 Other Banking Services 150 Internet and Phone Banking 152 Summary 154 Key Terms 156 Study Guide 156 Further Reading 157 PART 3 LAW RELATING TO SECURITY 159 5 Guarantee 161 Learning Objectives 161 Introduction 162 What is a Guarantee? 162 Undue Infl uence 165 Guarantees by Minors 166 Guarantees by Partnerships 167 Corporate Guarantees 168 Joint and Several Guarantees 168 Liability of Guarantors 170 Guarantor’s Rights as Against the Creditor 172 Guarantor’s Rights as Against the Debtor 173 Rights of Co-Guarantors 174 Duties of the Creditor Bank 175 Discharge of the Guarantor 176 Summary 180 Key Terms 181 Study Guide 182 Further Reading 182 6 Mortgage of Land 183 Learning Objectives 183 Introduction 184 Land in Hong Kong 184 Mortgages 187 Priorities 192 Rights of Mortgagee/Chargee 195 Rights of Mortgagors/Chargors 201 Discharge 205 Summary 205 Key Terms 206 Study Guide 207 Further Reading 207 7 Other Security Interests 209 Learning Objectives 209 Introduction 210 Company Charge 210 Pledge 218 Hypothecation 222 Company Shares 224 Insurance Policies 229 Bankers’ Lien 235 Summary 236 Key Terms 237 Study Guide 237 Further Reading 238 PART 4 INSOLVENCY 239 8 Bankruptcy 241 Learning Objectives 241 Introduction 242 Bankruptcy 242 Bankruptcy Order 244 Discharge From Bankruptcy 248 Voluntary Arrangements 248 Legal Issues for the Banker 250 Summary 254 Key Terms 256 Study Guide 256 Further Reading 256 9 Winding Up 257 Learning Objectives 257 Introduction 258 Winding Up 258 Compulsory Winding Up 259 Voluntary Winding Up 262 Petition for Winding Up 265 The Liquidator 265 Unregistered Companies 271 Assets Available for Distribution 271 Ranking of Claims 274 Antecedent Transactions 276 Legal Issues for the Banker 278 Summary 282 Key Terms 283 Study Guide 283 Further Reading 284 Index 285
£34.19
Princeton University Press Why Are There So Many Banking Crises The
Book SynopsisAlmost every country in the world has sophisticated systems to prevent banking crises. Yet, such crises remain common throughout the world. This title examines the causes of banking crises around the world, focusing on the lender of last resort; prudential regulation and the management of risk; and solvency regulations.Trade Review"Among economists' explanations are moral hazard, ill-judged capital adequacy rules and the incompetence of supervisors. Jean-Charles Rochet, a leading authority on banking, argues the real problem lies with politicians who too often insist on rescuing insolvent banks for short-term reasons of their own. [W]hatever the verdict on the policy proposals, the book makes interesting reading in current circumstances."--John Plender, Financial Times "The book provides an excellent introduction to the theory of banking regulation... I can recommend the book to anyone interested in a formal, academic approach to banking regulation. The concise conclusions of the individual articles provide valuable ideas for changes in banking regulation."--Bernd Brommundt, Financial Markets and Portfolio ManagementTable of ContentsPreface and Acknowledgments ix General Introduction and Outline of the Book 1 References 14 PART 1. WHY ARE THERE SO MANY BANKING CRISES? 19 Chapter 1: Why Are There So Many Banking Crises? by Jean-Charles Rochet 21 1.1 Introduction 21 1.2 The Sources of Banking Fragility 23 1.3 The Lender of Last Resort 24 1.4 Deposit Insurance and Solvency Regulations 27 1.5 Lessons from Recent Crises 28 1.6 The Future of Banking Supervision 30 References 33 PART 2. THE LENDER OF LAST RESORT 35 Chapter 2: Coordination Failures and the Lender of Last Resort: Was Bagehot Right After All? by Jean-Charles Rochet and Xavier Vives 37 2.1 Introduction 37 2.2 The Model 41 2.3 Runs and Solvency 44 2.4 Equilibrium of the Investors' Game 47 2.5 Coordination Failure and Prudential Regulation 53 2.6 Coordination Failure and LLR Policy 55 2.7 Endogenizing the Liability Structure and Crisis Resolution 58 2.8 An International LLR 63 2.9 Concluding Remarks 66 References 67 Chapter 3: The Lender of Last Resort: A Twenty-First-Century Approach by Xavier Freixas, Bruno M. Parigi, and Jean-Charles Rochet 71 3.1 Introduction 71 3.2 The Model 75 3.3 Efficient Supervision: Detection and Closure of Insolvent Banks 81 3.4 Efficient Closure 85 3.5 Central Bank Lending 89 3.6 Efficient Allocation in the Presence of Gambling for Resurrection 95 3.7 Policy Implications and Conclusions 97 3.8 Appendix 98 References 101 PART 3. PRUDENTIAL REGULATION AND THE MANAGEMENT OF SYSTEMIC RISK 103 Chapter 4: Macroeconomic Shocks and Banking Supervision by Jean-Charles Rochet 105 4.1 Introduction 105 4.2 A Brief Survey of the Literature 106 4.3 A Simple Model of Prudential Regulation without Macroeconomic Shocks 108 4.4 How to Deal with Macroeconomic Shocks? 112 4.5 Is Market Discipline Useful? 118 4.6 Policy Recommendations for Macroprudential Regulation 121 References 123 Chapter 5: Interbank Lending and Systemic Risk by Jean-Charles Rochet and Jean Tirole 126 5.1 Benchmark: No Interbank Lending 132 5.2 Date-0 Monitoring and Optimal Interbank Loans 139 5.3 Date-1 Monitoring, Too Big to Fail, and Bank Failure Propagations 148 5.4 Conclusion 153 5.5 Appendix: Solution of Program (P) 155 References 157 Chapter 6: Controlling Risk in Payment Systems by Jean-Charles Rochet and Jean Tirole 159 6.1 Taxonomy of Payment Systems 161 6.2 Three Illustrations 166 6.3 An Economic Approach to Payment Systems 173 6.4 Centralization versus Decentralization 181 6.5 An Analytical Framework 184 6.6 Conclusion 191 References 192 Chapter 7: Systemic Risk, Interbank Relations, and the Central Bank by Xavier Freixas, Bruno M. Parigi, and Jean-Charles Rochet 195 7.1 The Model 199 7.2 Pure Coordination Problems 205 7.3 Resiliency and Market Discipline in the Interbank System 207 7.4 Closure-Triggered Contagion Risk 210 7.5 Too-Big-to-Fail and Money Center Banks 213 7.6 Discussions and Conclusions 215 7.7 Appendix: Proof of Proposition 7.1 217 References 222 PART 4. SOLVENCY REGULATIONS 225 Chapter 8: Capital Requirements and the Behavior of Commercial Banks by Jean-Charles Rochet 227 8.1 Introduction 227 8.2 The Model 230 8.3 The Behavior of Banks in the Complete Markets Setup 231 8.4 The Portfolio Model 238 8.5 The Behavior of Banks in the Portfolio Model without Capital Requirements 240 8.6 Introducing Capital Requirements into the Portfolio Model 244 8.7 Introducing Limited Liability into the Portfolio Model 246 8.8 Conclusion 249 8.9 Appendix 250 8.10 An Example of an Increase in the Default Probability Consecutive to the Adoption of the Capital Requirement 256 References 257 Chapter 9: Rebalancing the Three Pillars of Basel II by Jean-Charles Rochet 258 9.1 Introduction 258 9.2 The Three Pillars in the Academic Literature 259 9.3 A Formal Model 260 9.4 Justifying the Minimum Capital Ratio 266 9.5 Market Discipline and Subordinated Debt 268 9.6 Market Discipline and Supervisory Action 269 9.7 Conclusion 272 9.8 Mathematical Appendix 274 References 277 Chapter 10: The Three Pillars of Basel II: Optimizing the Mix by Jean-Paul Decamps, Jean-Charles Rochet, and Benoit Roger 281 10.1 Introduction 281 10.2 Related Literature 284 10.3 The Model 287 10.4 The Justification of Solvency Requirements 292 10.5 Market Discipline 294 10.6 Supervisory Action 298 10.7 Concluding Remarks 302 10.8 Appendix: Proof of Proposition 9.2 303 10.9 Appendix: Optimal Recapitalization by Public Funds Is Infinitesimal (Liquidity Assistance) 303 10.10 Appendix: Proof of Proposition 9.3 304 References 305
£69.70
Edward Elgar Publishing Ltd Regulating Credit Rating Agencies Elgar Financial
Book SynopsisThis highly topical book examines how the leading credit rating agencies â Moody's, Standard & Poorâs and Fitch â have risen to prominence in the wake of the financial crisis.Trade Review'Aline Darbellay analyzes the obvious system relevance of credit rating agencies in depth and assesses the possible options for regulatory responses to this systemic issue. Thereby, the book is based on a fruitful comparative legal approach and formulates guidance principles for regulators, particularly addressing alternatives for restoring competition in the credit rating industry.' --Rolf Weber, The University of Zurich, SwitzerlandTable of ContentsContents: Foreword Part I: Prelude to the Credit Rating Industry 1. Introduction 2. History of Credit Rating Agencies 3. Description of the Credit Rating Industry Part II: Regulatory Structure 4. Rating-based Regulations 5. Regulatory Treatment of Credit Rating Agencies 6. Regulatory Trends Part III: Uses and Abuses of Credit Ratings in Structured Finance 7. Growth of the Structured Finance Segment 8. Wrong Incentives in the Credit Rating Industry 9. Regulatory Response to the Problems of Structured Finance Ratings Part IV: System-wide Effects of Credit Rating Downgrades 10. System-relevance of Credit Ratings 11. Market Reactions to Credit Rating Downgrades and their Consequences 12. Regulatory Response to the Systemic Issue Part V: Trends and Outlook 13. Restoring Competition in the Credit Rating Industry 14. Concluding Remarks Bibliography Index
£103.55
Edward Elgar Publishing Ltd The Governance and Regulation of International
Book SynopsisThis thought-provoking book adds a new perspective to the analysis of how regulation should respond to the global financial crisis of 2008â2009. It focuses on the âprivateâ as opposed to âpublicâ aspect of regulation, and highlights the works of the publicâprivate dialectic in regulation and enforcement.Trade ReviewThe publication of this book could hardly be more timely; it fills a gap in present-day discussion of the reasons for the recent ongoing financial crises, and who was responsible. The balance between the governance and regulation of the international finance market underpins how securely we proceed into the future. At a time when sovereign defaults dominate public discussion, this issue is of quintessential importance. The editors are to be congratulated for this important publication. --Christoph Paulus, Humbolt University of Berlin, GermanyTable of ContentsContents: Preface Introduction 1. Private Regulation of Internationally Active Financial Services Firms 2. Private Regulation in the Credit Default Swaps Market: The Role of ISDA in the New Regulatory Scenario of CDSs 3. Private Regulation and Enforcement in Microfinance: A Multilayered and Polycentric Puzzle 4. Governing Global Payments Markets: The International Payments Framework – A New Actor on the Scene 5. The Legitimacy and Accountability of the IASB as an International Standard Setter 6. The Internal Ratings-based and Advanced Measurement Approaches for Regulatory Capital under the ‘Basel Regime’ Index
£90.00
Taylor & Francis Ltd Cryptocurrencies and the Regulatory Challenge
Book SynopsisAs a social process that places great stock in its stability and predictability, law does not deal easily or well with change. In a modern world that is in a constant and rapid state of flux, law is being placed under considerable stress in its efforts to fulfill its task as a primary regulator of social and economic behaviour. This challenge is particularly acute in the realm of technology and its profound ramifications for social and economic behaviour. The innovative Techno-Age not only offers fresh ways of handling old problems, but also throws up entirely new problems; traditional ways of thinking about and responding to these old and new problems and their optimal resolution are no longer as tenable as many once thought. One such example is the burgeoning world of cryptocurrencies this peer-to-peer digital network presents a profound challenge to the status quo of the financial services sector, to the established modes of state-backed fiat currency, and to the regulatory authTable of Contents LAW’S REGULATORY VALUE AND VIRTUE: AN INTRODUCTION TO THE CRYPTO-WORLD INTO THE CRYPTO WORLD: PROBLEMATICS, PITFALLS AND PROSPECTS OF PIGEONS, PROPERTY AND VIRTUALITIES: A TAXONOMIC TEASER CURRENCY, COMMODITIES AND SECURITIES: SQUARE PEGS AND ROUND HOLES A SELF-REGULATED WORLD: A POLITICAL EXERCISE THE REGULATORY CHALLENGE: TOWARDS A COLLABORATIVE APPROACH TAKING REGULATION SERIOUSLY: A CRYPTO REGIME OF ITS OWN AN EFFORT AT CRYPTO-REGULATION: GETTING SMARTER GETTING WITH THE PROGRAM: GOVERNANCE AND RESPONSIBILITY PAYING THE PRICE: SOME CONCLUDING THOUGHTS
£43.69
Taylor & Francis Ltd Contract Law in Changing Times
Book SynopsisThis collection of essays provides a rich and contemporary discussion of the principle of pacta sunt servanda. This principle, which requires that valid agreements are to be honoured, is a cornerstone of contract law. Focusing on contributions from Asia, this book shows that, despite its natural and universal appeal, the pacta sunt servanda principle is neither absolute nor immutable. Exceptions to the binding force of contract must be available in limited circumstances to avoid hardship and unfairness. This book offers readers new comparative perspectives on the appropriate balance between contractual certainty and flexibility in an era of social instability. Expert authors, mostly from East and Southeast Asia, explore when their domestic legal systems allow exceptions from the binding force of contracts. Doctrines discussed include impossibility, frustration, change of circumstance, force majeure, illegality as well as rights of withdrawal. Other chapters Table of ContentsPart A. Pacta sunt servanda in changing times1 Pacta sunt servanda, the common law, and Hong KongStephen Hall2 Exceptions to pacta sunt servanda in the Chinese Civil Code Siyi Lin 3 In a Bubble by the Sea: COVID-19, Time and Contract Law in the Macau S.A.R.Célia F. Matias and Monica Chan4 Contracts in the time of COVID-19: common law and statutory solutions in SingaporeWayne Courtney5 The principle of pacta sunt servanda and its exceptions under Japanese contract lawTomohiro Yoshimasa6 Change of circumstances in Korean contract law: An exception to pacta sunt servandaBoeun ChangPart B. Pacta sunt servanda in specific contexts7 The property management service contract with Chinese characteristics: An exception to pacta sunt servanda?Jianbo Lou and Yimeng Ye8 Pacta sunt servanda in the age of cryptocurrency: The case of ChinaChao Xi9 Post-employment non-compete agreements under the Taiwan Labour Standards Act and pacta sunt servandaYalun Yen10 Pacta sunt servanda and the consumer’s right of withdrawalGeraint Howells11 Contract enforcement during the Global Financial Crisis: Lessons for the coming tsunamiKingsley OngPart C. Pacta sunt servanda in international law12 Invoking COVID-19 to suspend or terminate the operation of a treatyHanh Hong Pham and Huong Thi Thu Phung13 Treaties and pacta sunt servanda: A shared concept for the PRC?Noble Po-kan Lo14 Pacta sunt servanda: Comfort letters in an age of instability and strategic rivalry Joel Slawotsky Part D. Conclusion15 Pacta sunt servanda – a maxim and its exceptions in comparative perspectiveNormann Witzleb
£118.75
Taylor & Francis Ltd Contract Law in Changing Times
Book SynopsisThis collection of essays provides a rich and contemporary discussion of the principle of pacta sunt servanda. This principle, which requires that valid agreements are to be honoured, is a cornerstone of contract law. Focusing on contributions from Asia, this book shows that, despite its natural and universal appeal, the pacta sunt servanda principle is neither absolute nor immutable. Exceptions to the binding force of contract must be available in limited circumstances to avoid hardship and unfairness. This book offers readers new comparative perspectives on the appropriate balance between contractual certainty and flexibility in an era of social instability. Expert authors, mostly from East and Southeast Asia, explore when their domestic legal systems allow exceptions from the binding force of contracts. Doctrines discussed include impossibility, frustration, change of circumstance, force majeure, illegality as well as rights of withdrawal. Other chapters Table of ContentsPart A. Pacta sunt servanda in changing times1 Pacta sunt servanda, the common law, and Hong KongStephen Hall2 Exceptions to pacta sunt servanda in the Chinese Civil Code Siyi Lin 3 In a Bubble by the Sea: COVID-19, Time and Contract Law in the Macau S.A.R.Célia F. Matias and Monica Chan4 Contracts in the time of COVID-19: common law and statutory solutions in SingaporeWayne Courtney5 The principle of pacta sunt servanda and its exceptions under Japanese contract lawTomohiro Yoshimasa6 Change of circumstances in Korean contract law: An exception to pacta sunt servandaBoeun ChangPart B. Pacta sunt servanda in specific contexts7 The property management service contract with Chinese characteristics: An exception to pacta sunt servanda?Jianbo Lou and Yimeng Ye8 Pacta sunt servanda in the age of cryptocurrency: The case of ChinaChao Xi9 Post-employment non-compete agreements under the Taiwan Labour Standards Act and pacta sunt servandaYalun Yen10 Pacta sunt servanda and the consumer’s right of withdrawalGeraint Howells11 Contract enforcement during the Global Financial Crisis: Lessons for the coming tsunamiKingsley OngPart C. Pacta sunt servanda in international law12 Invoking COVID-19 to suspend or terminate the operation of a treatyHanh Hong Pham and Huong Thi Thu Phung13 Treaties and pacta sunt servanda: A shared concept for the PRC?Noble Po-kan Lo14 Pacta sunt servanda: Comfort letters in an age of instability and strategic rivalry Joel Slawotsky Part D. Conclusion15 Pacta sunt servanda – a maxim and its exceptions in comparative perspectiveNormann Witzleb
£36.09
Taylor & Francis Ltd Sovereign Debt Restructuring and the Law
Book SynopsisThe book sheds light on the perhaps most important legal conundrum in the context of sovereign debt restructuring: the holdout creditor problem. Absent an international bankruptcy regime for sovereigns, holdout creditors may delay or even thwart the efficient resolution of sovereign debt crises by leveraging contractual provisions and, in an increasing number of cases, by seeking to enforce a debt claim against the sovereign in courts or international tribunals.Following an introduction to sovereign debt and its restructuring, the book provides the first comprehensive analysis of the holdout creditor problem in the context of the two largest sovereign debt restructuring operations in history: the Argentine restructurings of 2005 and 2010 and the 2012 Greek private sector involvement. By reviewing numerous lawsuits and arbitral proceedings initiated against Argentina and Greece across a dozen different jurisdictions, it distils the organizing principles for ongoing and future Trade ReviewNo issue in sovereign finance has preoccupied the attention of scholars, politicians and lawyers in this century more than the problem of holdout creditors in sovereign debt workouts. Sebastian Grund has given us a magisterial survey of how courts and arbitrators have dealt with the claims of holdout creditors in two of the largest sovereign debt restructurings in history — Argentina and Greece.Lee Buchheit, Honorary Professor, University of Edinburgh School of Law and former Senior Partner at Cleary Gottlieb Steen & HamiltonThis book is a delightful treatment of two of the most important restructurings in the modern history of sovereign debt, Argentina and Greece. While the restructurings and the central problem of holdout creditors manifested themselves in very different ways in the different cases, Grund shows us the lessons we can learn from the commonalities. The treatment of what happened in the particular cases (and there were many) is sure to be invaluable to be both scholars and practitioners.Mitu Gulati, Perre Bowen Professor of Law, University of Virginia School of LawHoldout creditors are a massive impediment to the orderly restructuring of sovereign debt. They are typically investors who’ve bought the debt to profit from the sovereign debtor, not the original lenders to it. This book explores the approaches of an unusually wide range of national courts to this problem, and distils the lessons from the Argentine and Greek restructurings. It sheds light on issues that need it – as those who ultimately pay the price today of these cynical investments are the poorer citizens of poor nations. Ross P Buckley, Scientia Professor & ARC Laureate Fellow, University of New South Wales SydneyTable of ContentsPreface Acknowledgements Acronyms, Abbreviations, and Defined Terms 1 Sovereign Debt and Its Restructuring 1.1. Sovereign Debt – An Overview 1.2. Sovereign Debt Restructuring 1.2.1. Introduction 1.2.2. Definition and Types of Sovereign Debt Restructurings 1.2.3. Legal and Transactional Aspects of Sovereign Debt Restructurings 1.2.3.1. Restructuring Principles and Processes 1.2.3.2. Debt Restructuring Methods 1.2.3.2.1. Debt Restructuring Versus Debt Rescheduling 1.2.3.2.2. Debt Restructuring Techniques: Sticks and Carrots 1.2.3.3. Scope of Debt Restructurings 1.2.3.3.1. Domestic Versus Foreign Sovereign Debt Restructurings 1.2.3.3.2. Creditor Classes, Ranking, and Priority 1.2.4. Holdout Creditor Problems in Sovereign Debt Restructurings 1.2.5. The Evolution of Sovereign Debt Restructuring Practice 2 Holdout Creditor Problems and Foreign Law Debt: The Argentine Debt Restructurings in Courts and Tribunals (2001–2016) 2.1. Argentina’s Sovereign Debt Restructurings (2001–010) 2.1.1. Background 2.1.2. The 2005 Debt Restructuring 2.1.3. The 2010 Debt Restructuring 2.2. Holdout Litigation After Argentina 2.2.1. Holdout Litigation in Foreign Domestic Courts 2.2.1.1. United States 2.2.1.1.1. Lightwater v Argentina 2.2.1.1.2. EM v Banco Central de la Repúlica Argentina 2.2.1.1.3. NML Capital v Argentina2.2.1.2. Germany 2.2.1.2.1. BVerfG Decision of 8 May 2007 2.2.1.2.2. BGH Decision of 25 November 2010 2.2.1.2.3. BGH Decision of 24 February 2015 2.2.1.2.4. BVerfG Decision of 3 July 2019 2.2.1.3. Italy 2.2.1.3.1. Italian Supreme Court (Corte Suprema di Cassazione) 2.2.1.4. United Kingdom 2.2.1.4.1. UK Supreme Court 2.2.1.5. France 2.2.1.5.1. French Supreme Court (Cour de Cassation) 2.2.1.6. Switzerland 2.2.1.6.1. Swiss Federal Supreme Court 2.2.2. Holdout Litigation in International Courts and Tribunals 2.2.2.1. International Tribunal for the Law of the Sea 2.2.2.2. International Court of Justice 2.2.3. Interim Conclusions: Enforcing Sovereign Debt in Foreign Courts 2.2.3.1. Adjudicatory Sovereign Immunity 2.2.3.1.1. The Commercial Activity Exception: ‘Once A Trader Always A Trader’ and the Mixed Activity Conundrum 2.2.3.1.2. Recognition of Foreign Judgements 2.2.3.2. Immunity from Enforcement 2.2.3.2.1. The Immunity of Public Claims from Creditor Attachment 2.2.3.2.2. The Immunity of Central Bank Reserves from Attachment 2.2.3.2.3. ARA Libertad and the Immunity of (Military) Vessels 2.2.3.3. Third-Party Injunctions: A New Super Remedy to Circumvent the Immunity Defence? 2.3. Holdout Arbitration After Argentina 2.3.1. International Investment Arbitration Before ICSID Tribunals 2.3.1.1. Abaclat and Others v Argentine Republic 2.3.1.1.1. Sovereign Bonds as Investment 2.3.1.1.2. Jurisdiction over Mass Claims 2.3.1.1.3. The Dissenting Opinion by Professor Abi-Saab2.3.1.2. Ambiente Ufficio v Argentine Republic 2.3.2. Interim Conclusions 2.3.2.1. Sovereign Bond Arbitration Against Argentina –Producing a Monster? 2.3.2.2. ICSID Jurisdiction and the Rejection of the Salini Test 2.3.2.2.1. Contribution to the Development of the Host State 2.3.2.2.2. Duration 2.3.2.2.3. Risk-Sharing2.3.2.2.4. Territorial Link 2.3.2.2.5. The Admissibility of MassClaims 2.4. Settling a Decade of Holdout Lawsuits Against Argentina 2.4.1. The 2016 Election and Argentina’s Return to International Financial Markets 2.4.2. Settling with the Vulture Holdouts 2.4.3. Settling with the Retail Holdouts 3 Holdout Creditor Problems and Domestic Law Debt: The Greek Debt Restructuring in Courts and Tribunals (2012–2020) 3.1. Introduction 3.2. The Greek Sovereign Debt Crisis: 2009–2015 3.3. The Greek Debt Restructuring of 2012 3.3.1. Debt Restructuring Negotiations: The Role of the Troika and the IIF 3.3.2. Restructuring Greek Law Bonds 3.3.3. Restructuring Foreign Law Bonds 3.4. Holdout Creditor Litigation After Greece in Foreign Courts 3.4.1. Germany 3.4.1.1. BGH Judgment of 8 March 2016 3.4.1.2. BGH Judgment of 19 December 2017 3.4.1.3. BVerfG Judgment of 6 May 2020 3.4.2. Austria 3.4.2.1. OGH Judgment of 20 May 2014 3.4.2.2. OGH Judgment of 27 January 2016 3.4.2.3. OGH Judgements of 25 April 2017 and 22 January 2019 3.4.2.4. OGH Judgment of 21 February 2020 3.4.3. Interim Conclusions 3.4.3.1. Sovereign Immunity in Domestic Law Restructurings 3.4.3.2. (Some) Hypothetical Problems with Enforcing Greek Sovereign Debt in Germany and Austria 3.5. Holdout Litigation After Greece in European Courts 3.5.1. Court of Justice of the EU (CJEU) 3.5.1.1. Accorinti v ECB3.5.1.2. Fahnenbrock v Hellenic Republic 3.5.1.3. Hellenic Republic v Kuhn3.5.2. European Court of Human Rights (ECtHR) 3.5.2.1. Mamatas v Greece 3.5.3. Interim Conclusions 3.5.3.1. Sovereign Debt Restructurings in European Courts: Novel Judicial Challenges 3.5.3.2. The (Tenuous) Link Between Sovereign Immunity and Jurisdiction Under EU Law 3.5.3.3. Jurisdiction Under the Brussels I Regulation 3.5.3.4. Property Right Guarantees for Sovereign Bondholders in Unilateral European Sovereign Bond Restructurings 3.5.3.5. The (Preferential) Treatment of Eurosystem Claims in Euro Area Sovereign Debt Restructurings 3.6. Holdout Arbitration After Greece 3.6.1. Poštová banka v Hellenic Republic 3.6.2. Interim Conclusions: Closing Pandora’s Box? 4 Holdouts in Foreign Versus Domestic Law Debt Restructurings: Walking Back from Argentina and Greece 4.1. Introduction 4.2. The Role of Governing Law in Sovereign Debt Restructurings 4.3. The Legal Basis for Sovereign Debt Instruments: Contracts Versus Statutes 4.4. Sovereign Immunity Revisited 4.5. The Protection of Sovereign Creditors’ Property Rights 5 A Genealogy of Holdout Creditors: The Future of Sovereign Debt Restructuring 5.1. The Proliferation of Holdout Creditors 5.2. Private Sector Holdouts 5.2.1. Vulture Funds 5.2.2. Banks 5.2.3. Asset Management Funds (Real Money Investors) 5.2.4. Retail Investors 5.2.5. Commodity Traders 5.3. Official Sector Holdouts 6 Concluding Remarks Bibliography Statutes, Treaties, and Judicial Authorities Index
£36.09
Taylor & Francis Ltd Commercial and Arbitration Law of the Digital
Book SynopsisThis book discusses the importance of the digital economy and its most pressing challenge: the onset of quantum and critical technology. It looks at how its implementation, either on its own or coupled with artificial intelligence, impacts commercial and arbitration law.International trade and investment are increasingly being integrated within national security policy and the law to protect the nation state. A failure to safeguard personal and commercial data will allow other state and non-state actors to set the rules that do not align with the values of the rule of law and transnational rules-based system. This book argues that it is necessary to establish a principles-based approach to governing the development and use of these technologies. Chapters touch on the application of smart contracts, arbitration, as well as mergers and acquisitions and their potential weaponisation in the digital economy due to their ability to transcend national security. Elemen
£123.50
Taylor & Francis Global Contract Law in the Middle East and North
Book SynopsisThis book comprehensively covers the interplay between cultural and legal globalization and the impact this has on contract law, with a particular focus on state contracts within the MENA region.The book discusses the roles assumed by Supreme Courts in Egypt and MENA countries in creating unified principles of international contract law in statesâ contracts which are consistent with international commercial contractsâ principles. It makes a powerful argument for further harmonization of contract law in the area, and how this can be achieved. The book forms a case study of how international harmonization can be achieved through a number of routes, such as codification, digitalization of processes and contracts, private-public arbitration, and further use of international instruments. It also considers the implications of comparative European law, convention law, and other legal domains, particularly international standards, on contract law in the MENA region. The book suggests how international legal standards can be integrated within contract law, and how a harmonious contract law framework can thus be achieved. Through analyzing ICSID case law, the book argues that unification of contract law principles in the MENA region is a considerable step towards achieving legitimate expectations of foreign investors. It argues, further, that global contract law is underway.The book will be is of interest to students and scholars in the field of international contract law, public law, and international law in Egypt and MENA countries.
£123.50
Edward Elgar Publishing Payment Services
Book Synopsis
£172.90
Cambridge University Press The Logic of Financial Nationalism The Challenges
Book SynopsisUsing case studies ranging from cross-border bank resolution to sovereign debt, the author analyzes the role of international law in protecting financial sovereignty, and the risks for the global financial system posed by the lack of international cooperation. Despite the post-crisis reforms, the global financial system is still mainly based on a logic of financial nationalism. International financial law plays a major role in this regard as it still focuses more on the protection of national interests rather than the promotion of global objectives. This is an inefficient approach because it encourages bad domestic governance and reduces capital mobility. In this analysis, Lupo-Pasini discusses some of the alternatives (such as the European Banking Union, Regulatory Passports, and international financial courts), and offers a new vision for the role of international law in maintaining and fostering global financial stability. In doing so, he fills a void in the law and economics literaTrade Review'The book is enjoyable and well written, demonstrating the author's expertise on the topic, and combining legal theory with the analysis of practical case studies.' Lucia Satragno, Global PolicyTable of ContentsIntroduction; 1. The logic of externalities; 2. Nationalism and cooperation in international finance; 3. The perils of home-country control; 4. Cross-border banking; 5. Nationalism in sovereign debt; 6. Coordination battles in OTC derivatives regulation; 7. Centralization and its limits; 8. Compliance and global coalitions in international finance law; 9. A different path to financial integration: regulatory passports; 10. Dispute resolution; Concluding remarks.
£94.50
Cambridge University Press Reconceptualising Global Finance and Its Regulation
Book SynopsisIn this book, top legal and financial scholars propose bold new solutions to international financial regulation in the wake of the 2008 global financial crisis. Their call for innovative reform will be of primary interest to regulatory and banking legal practitioners, policy makers, scholars, research students and think tanks.Trade Review'The most outstanding contribution of the book to the literature on the global financial regulation is particularly manifested in shedding light on the most recent regulations and institutional developments introduced after the GFC, that have significant implications for the governance and regulation of global finance.' Hossein Nabillou, Banking and Finance Law ReviewTable of Contents1. Introduction Douglas W. Arner, Ross P. Buckley and Emilios Avgouleas; 2. The changing nature of banking and why it matters Ross P. Buckley; 3. Understanding the global in global finance and regulation Lawrence G. Baxter; Part I. Global Financial Architecture: Evolution, Shortcomings, Interdependence: 4. The financial stability board and the future of international financial regulation Douglas W. Arner and Michael Taylor; 5. Financial regulation's overlooked networks David Zaring; 6. Why has Basel III become hard law for China? The domestic political economy of international financial law Chao Xi; Part II. The Changing Face of Central Banking: 7. Reconceptualising central banking: from the great inflation to the great recession and beyond Donato Masciandaro; 8. The macroprudential quandary: unsystematic efforts to reform financial regulation Kern Alexander and Steven L. Schwarcz; 9. Rethinking the law in 'safe assets' Anna Gelpern and Erik F. Gerding; Part III. Reconceptualising Cross Border Finance: 10. Competing for renminbi: financial centres in the context of renminbi globalisation Shen Wei; 11. 'Market quality' and moral hazard in financial market design David C. Donald; 12. Cross border banking: reconceptualising bank secrecy Ruth Plato-Shinar; 13. Liability for transnational securities fraud, quo vadis? Amir N. Licht; Part IV. Addressing Too-Big-To-Fail and Shadow Banking: 14. Large systemic banks and fractional reserve banking, intractable dilemmas in search of effective solutions Emilios Avgouleas; 15. Turning the tide? How European banking and financial services legislation is making waves on the enforcement front Dalvinder Singh and James Hodges; 16. Shadow banking or 'bank's shadow:' reconceptualising global shadow banking regulation Yingmao Tang; 17. Shadow banking and its regulation: the case of China Robin Hui Huang; Part V. The Role of Culture and Ethics in Global Finance: 18. Promoting capital markets professionalism – an emerging Asian model Brian W. Tang; 19. Competitiveness of financial centres in light of financial and tax law equivalence requirements Dirk Zetzsche; 20. Human rights due diligence as new policy in financial institutions Rolf H. Weber; 21. Reconceptualising the role of standards in supporting financial regulation William Blair; 22. Conclusion Emilios Avgouleas, Douglas W. Arner and Ross P. Buckley.
£45.73
Cambridge University Press Principles of Banking Regulation
An accessible, comprehensive analysis of the main principles and rules of banking regulation in the post-crisis regulatory reform era, this textbook looks at banking regulation from an inter-disciplinary perspective across law, economics, finance, management and policy studies. It provides detailed coverage of the most recent international, European and UK bank regulatory and policy developments, including Basel IV, structural regulation, bank resolution and Brexit, and considers the impact on bank governance, compliance, risk management and strategy.
£52.27
Cambridge University Press Special Needs Financial Planning
Book SynopsisCountries around the world are facing pressing needs to enhance financial planning mechanisms for individuals with cognitive impairment. The book provides the first comparative study of the three most common of such mechanisms in Asia and the West, namely guardianship, enduring/lasting powers of attorney, and special needs trusts. It involves not only scholarly overviews of the mechanisms in the jurisdictions studied, but also thorough, structured and critical reviews of their operational experiences. This book will have broad appeal to scholars, students, law and policy makers and practitioners in the fields of mental disability, healthcare and elder law. It is widely recognised in the field that books like this one are needed. This book will also be of interest to undergraduate and graduate students in mental health, disability law and elder law.Table of ContentsPart I. Adult Guardianship: 1. Adult guardianship and other financial planning mechanisms for people with cognitive impairment in Australia Terry Carney; 2. The role of guardianship in the special needs plan in Saskatchewan, Canada James H. Gillis; 3. Japanese adult guardianship laws: developments and reform initiatives Makoto Arai; 4. The use of trusts in Taiwan's adult guardianship system Tai Yu-Zu; Part II. Lasting/Enduring Power of Attorney: 5. Adult guardianship and powers of attorney in England and Wales Denzil Lush; 6. Supported decision-making and enduring powers: innovations in Ireland Áine Hynes; 7. Developments in enduring powers of attorney law in Australia Trevor Ryan; 8. Financial planning mechanisms available to persons with special needs in Singapore Tang Hang Wu; Part III. Special Needs Trust: 9. What will happen when I'm gone? Dana Katherine Birkes; 10. The Wispact Trusts: making a difference in a means-tested support system Roy Froemming; 11. SNTC's operational experience as Singapore's first non-profit trust company Esther Tan and Amelia Leo; 12. A new perspective in adult guardianship and trusts in Korea Cheolung Je; 13. Reforming enduring powers and launching a special needs trust in Hong Kong Lusina Ho and Rebecca Lee.
£76.00
Cambridge University Press Special Needs Financial Planning
Book SynopsisCountries around the world are facing pressing needs to enhance financial planning mechanisms for individuals with cognitive impairment. The book provides the first comparative study of the three most common of such mechanisms in Asia and the West, namely guardianship, enduring/lasting powers of attorney, and special needs trusts. It involves not only scholarly overviews of the mechanisms in the jurisdictions studied, but also thorough, structured and critical reviews of their operational experiences. This book will have broad appeal to scholars, students, law and policy makers and practitioners in the fields of mental disability, healthcare and elder law. It is widely recognised in the field that books like this one are needed. This book will also be of interest to undergraduate and graduate students in mental health, disability law and elder law.Table of ContentsPart I. Adult Guardianship: 1. Adult guardianship and other financial planning mechanisms for people with cognitive impairment in Australia Terry Carney; 2. The role of guardianship in the special needs plan in Saskatchewan, Canada James H. Gillis; 3. Japanese adult guardianship laws: developments and reform initiatives Makoto Arai; 4. The use of trusts in Taiwan's adult guardianship system Tai Yu-Zu; Part II. Lasting/Enduring Power of Attorney: 5. Adult guardianship and powers of attorney in England and Wales Denzil Lush; 6. Supported decision-making and enduring powers: innovations in Ireland Áine Hynes; 7. Developments in enduring powers of attorney law in Australia Trevor Ryan; 8. Financial planning mechanisms available to persons with special needs in Singapore Tang Hang Wu; Part III. Special Needs Trust: 9. What will happen when I'm gone? Dana Katherine Birkes; 10. The Wispact Trusts: making a difference in a means-tested support system Roy Froemming; 11. SNTC's operational experience as Singapore's first non-profit trust company Esther Tan and Amelia Leo; 12. A new perspective in adult guardianship and trusts in Korea Cheolung Je; 13. Reforming enduring powers and launching a special needs trust in Hong Kong Lusina Ho and Rebecca Lee.
£39.92
John Wiley & Sons Inc Legal Data for Banking
Book SynopsisA practical, informative guide to banks' major weakness Legal Data for Banking defines the legal data domain in the context of financial institutions, and describes how banks can leverage these assets to optimise business lines and effectively manage risk. Legal data is at the heart of post-2009 regulatory reform, and practitioners need to deepen their grasp of legal data management in order to remain compliant with new rules focusing on transparency in trade and risk reporting. This book provides essential information for IT, project management and data governance leaders, with detailed discussion of current and best practices. Many banks are experiencing recurrent pain points related to legal data management issues, so clear explanations of the required processes, systems and strategic governance provide immediately-relevant relief. The recent financial crisis following the collapse of major banks had roots in poor risk data management, and the regulators' unawareTable of ContentsPreface vii Acknowledgements ix 1 The Role of Data in a Financial Crisis 1 2 The Law, Legal System and Basics of Contract Law 11 3 Structured Finance and Financial Products – Derivatives 27 4 Data, Data Modelling and Governance 53 5 BCBS 239 – Legal Data in Risk Aggregation 81 6 Capital and Netting 89 7 Collateral – Enforceability, Reform and Optimisation 115 8 CASS – Client Assets and Client Money 155 9 Liquidity Risk Management and Reporting 167 10 Contractual Impediments – Recovery and Resolution Planning 187 11 Document Generation/Data-Driven Contracts 213 12 Smart Contracts 233 13 Electronic and Digital Signatures 259 Appendix A 267 Appendix B 271 Appendix C 279 Index 281
£45.00
Taylor & Francis Ltd Conduct and Pay in the Financial Services
Book SynopsisSince the financial crisis, one of the key priorities of the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) has been individual accountability. This book addresses the regulatory and employment law challenges that arise from the FCA's and PRA's requirements. The expert team of writers examine in depth the provisions of the Financial Services and Markets Act 2000 which relate to individuals, and the associated requirements of the PRA and FCA. The topics addressed include: The Senior Manager, Certification and Approved Person Regimes Regulatory references and whistleblowing Disciplinary investigations, enforcement and sanctions Notifications, Form C', and fitness & propriety Bonus disputes and the Remuneration Code Conduct and Pay in the Financial Services Industry considers the full extent of an individual's employmeTrade Review'...the authors provide valuable insights into issues that may need to be grappled with in due course... I anticipate that this will become the standard work for those of us who advise on questions of regulatory authorisation, conduct and pay in the financial services field. The authors have certainly achieved their objective of filling the gap that existed in our law libraries.'Richard Coleman Q.C. ARDL Quarterly Bulletin"A succinct, well-written book on the regulations governing conduct and pay in financial services…it is likely to be an essential read for any who have to advise clients in the financial services sector. Its greatest strength is that its contributors are practitioners with considerable collective experience of the sector who are also able to offer insight into the attitude and mindset of the regulators, coupled with an exceptionally high level of ability in and knowledge of employment law."Stephen Levinson, Employment Lawyers Association Table of Contents1. Introduction PART I: CONDUCT 2. The Conduct Regime 3. Fitness and Propriety 4. The Approved Persons Regime 5. The Certification Regime 6. The Senior Managers Regime 7. Notifications and the "Form C" Issue 8. Regulatory References and Whistleblowing 9. Misconduct 10. Sanctions 11. Enforcement Procedure PART II: PAY 12. Bonuses: the General Law 13. The Remuneration Codes 14. Malus and Clawback: Further Discussion
£285.00
Taylor & Francis Ltd Maritime CrossBorder Insolvency
Book SynopsisMaritime Cross-Border Insolvency is a comprehensive comparative examination of both insolvency regimes (UNCITRAL and EU) in shipping with reference to the main jurisdictions having adopted the UNCITRAL regime, i.e. USA, UK, Greece.Trade Review'Professor Athanassiou’s book represents a remarkable attempt to guide the reader through the fascinating and murky world of maritime cross-border insolvency, guided by the knowledge and confidence of an academic with several years of experience in private practice.Professor Athanassiou does an excellent job in eviscerating the nuances of the national and international statutes covered in her book, thus providing the reader with an analytical understanding of the covered topics.…the author manages to successfully blend her academic and professional backgrounds to create an outstandingly well-referenced book that should certainly be used in professional practice.'Eugenio Vaccari, International Company and Commercial Law Review (ICCLR)'Professor Athanassiou’s book represents a remarkable attempt to guide the reader through the fascinating and murky world of maritime cross-border insolvency, guided by the knowledge and confidence of an academic with several years of experience in private practice.Professor Athanassiou does an excellent job in eviscerating the nuances of the national and international statutes covered in her book, thus providing the reader with an analytical understanding of the covered topics.…the author manages to successfully blend her academic and professional backgrounds to create an outstandingly well-referenced book that should certainly be used in professional practice.'Eugenio Vaccari, International Company and Commercial Law Review (ICCLR)Table of ContentsOpening RemarksPART 1: Systemic conflict between the rules of maritime and insolvency lawChapter 1: Insolvency mechanisms and the operation of shipping companies: Financial aspectsChapter 2: Legal interaction between insolvency and maritime lawPART 2: Areas of conflict between maritime and insolvency lawChapter 3: Opening of cross-border insolvency proceedings Chapter 4: The treatment of maritime securitiesChapter 5. Insolvency and limitation of liability for maritime claimsPostface
£204.25
LexisNexis UK Pagets Law of Banking
Book SynopsisFirst published in 1904, Paget''s Law of Banking has established itself as the leading practitioner text on banking law, combining meticulous accuracy and depth with a clear approach to this complex area.The banking law bible - a definitive work on this subject with a huge reputationThe 16th edition continues to be unique in providing a comprehensive, clear and accurate statement of the law of banking, with a particular emphasis on the principles which underpin the case law. The new edition includes:* A new Part on Consumer Redress, with 2 brand new chapters on The Financial Ombudsman Service and Authorised Push Payment Fraud * Substantially enhanced treatment on Sanctions* Recent case law in the field of Guarantees
£689.00
New York University Press The Case for the Corporate Death Penalty
Book SynopsisA critical examination of the wrongdoing underlying the 2008 financial crisisAn unprecedented breakdown in the rule of law occurred in the United States after the 2008 financial collapse. Bank of America, JPMorgan, Citigroup, Goldman Sachs, and other large banks settled securities fraud claims with the Securities and Exchange Commission for failing to disclose the risks of subprime mortgages they sold to the investing public. But a corporation cannot commit fraud except through human beings working at and managing the firm. Rather than breaking up these powerful megabanks, essentially imposing a corporate death penalty, the government simply accepted fines that essentially punished innocent shareholders instead of senior leaders at the megabanks. It allowed the real wrongdoers to walk away from criminal responsibility. In The Case for the Corporate Death Penalty, Mary Kreiner Ramirez and Steven A. Ramirez examine the best available evidence about the wrongdoing underlying the financialTrade Review"This is an informative and at its heart very angry book, and is fascinating...reading for everyone whos still smarting from the crash." * Publishers Weekly *"The Ramirezes have unleashed a powerful condemnation of governments weak-kneed response to corporate crime in their impressive new studyThe Case for the Corporate Death Penalty...[This]book helps us not only understand the scale of criminality among Americas financial elites, but also the dynamics which propel elites like Trump into office. If action is not taken to rein in the lawlessness which the Ramirezes so thoroughly reveal, the economic and social implications for America are terrifying." * Popmatters.com *"Despite there being hundreds of books and articles written on the subject, only a few have directly tackled the issue of why the prosecutorial response was so anemic, and even fewer still with as much vigor or scope… For anyone trying to understand how the crisis originated and then filtered throughout the financial system, this book is an invaluable resource." -- Political Science Quarterly"In detailing the cases of Countrywide Financial, AIG Financial Products Group, JP Morgan Chase, and Goldman, Sachs, among others, Ramirez and Ramirez find ample evidence to proceed with criminal indictments." * Choice *"The Case for the Corporate Death Penaltyprovides an inspired and thoughtful roadmap for knowing the new lawlessness, reviving the old rule of law, and reclaiming our democratic nation in the process." * Criminal Law and Criminal Justice Books *"Its abundantly clear that law enforcement on Wall Street is woefully broken. In the wake of the financial crisis, not one senior bank executive has been held accountable for the pervasive wrongdoing that brought our economy to its knees, undermining confidence in the fairness of our legal system as well as deterrence against future misconduct. The authors confront this troubling reality head on and in stark detail, leading readers into a fulsome debate about what is to be done to restore the rule of law to our financial markets." -- Phil Angelides,Chairman, Financial Crisis Inquiry Commission (2009-2011)"The incontrovertible value of this book lies in the fact that while it informs average Americans about the details of potentially criminal conduct, it also provides policy discussions that include specific proposals for reformers. Mary Kreiner Ramirez and Steven A. Ramirez are excellent storytellers who expertly use salient narratives to support their theses." -- Cheryl Wade,Harold McNiece Professor of Law, St. John's University School of Law"Exciting, well written, and potentially explosive an extremely timely topic and one that may well prove to be controversial and garner national and international attention. The topic is critically important, as I have not before seen this subject dealt with as forthrightly or marshalled as effectively as here. To truly understand that, unlike the Enron-era scandals or the Savings & Loans scandals, the government has failed to bring criminal charges against any of the individuals responsible for the financial market crisis of 2007-09 defies logic and comprehension." -- André Douglas Pond Cummings,Professor of Law, Indiana Tech Law School"The authors were among the regulators and prosecutors with the spine to stop and jail financial frauds of the 1980s. Wall Street's criminal elites so feared the crackdown that they unleashed their political allies to turn the regulatory leaders into invertebrates. The authors show how to regrow our spines, restore the rule of law on Wall Street, and reclaim our Nation." -- William K. Black,Associate Professor of Economics and Law, University of Missouri-Kansas City
£27.54
Cornell University Press The Bankers Blacklist
Book SynopsisIn The Banker''s Blacklist, Julia C. Morse demonstrates how the Financial Action Task Force (FATF) has enlisted global banks in the effort to keep bad money out of the financial system, in the process drastically altering the domestic policy landscape and transforming banking worldwide.Trillions of dollars flow across borders through the banking system every day. While bank-to-bank transfers facilitate trade and investment, they also provide opportunities for criminals and terrorists to move money around the globe. To address this vulnerability, large economies work together through an international standard-setting body, the FATF, to shift laws and regulations on combating illicit financial flows. Morse examines how this international organization has achieved such impact, arguing that it relies on the power of unofficial market enforcementa process whereby market actors punish countries that fail to meet international standards. The FATF producesTrade ReviewHer detailed research provides a thorough examination of the organization that moves beyond headlines to test out different theories of how this international organization works. * Lawfare *Julia Morse provides groundbreaking research into the FATF that makes the FATF more accessible and serves as a very helpful guide for understanding how unofficial market enforcement can be harnessed to address AML/CFT risks at the country level, both now and into the future. * Lawfare *The bankers' blacklist presents an artful paradox: its insights are greater than the sum of its parts. This is a thought-provoking book[.] * International Affairs *Table of ContentsIntroduction: Cross-Border Banking in a Globalized Era 1. A Primer on International Financial Standards on Illicit Financing 2. A Theory of Unofficial Market Enforcement 3. The FATF's Fight against Illicit Financing 4. How the Noncomplier List Drives FATF Compliance 5. Unofficial Market Enforcement against Listed Countries 6. Fighting Illicit Financing in Southeast Asia Conclusion: The Power and Peril of Markets as Enforcers
£37.40
Bloomsbury Publishing PLC The European Monetary Union: A Commentary on the
Book SynopsisThis book provides a commentary on the law of the EU related to the Monetary Union. It contains a comprehensive analysis of all provisions of the Statute of the European System of Central Banks (ESCB) and the European Central Bank (ECB). In addition, the book also analyses all provisions of the Treaties themselves which regulate the ESCB and the ECB. This analysis is supplemented by commentaries on other Protocols which contain relevant rules for the Monetary Union. In essence, all relevant statutory rules governing the euro and its key monetary authority, the European Central Bank, are unfolded and explained in one volume. This gives the book a unique position in the legal literature on the law of the EU. With contributions by renowned academics and practitioners, this book is an expanded and updated translation of the 2013 German commentary, EWU Kommentar zu Europäischen Währungsunion (Mohr Siebeck) and is an invaluable resource for practitioners and academics alike who are looking for a provision-by-provision commentary on the laws governing the European Monetary Union.Table of ContentsPart I – Treaty on European Union Article 3 (ex Article 2 TEU) [Aims of the Union] (Siekmann) Article 13 [Institutional framework] (Siekmann) Part II – Treaty on the Functioning of the European Union Article 119 [Economic and monetary policy] (Siekmann) Article 120 (ex Article 98 TEC) [Conduct of economic policies] (Ohler) Article 121 (ex Article 99 TEC) [Coordination of economic policy] (Ohler) Article 122 (ex Article 100 TEC) [Emergency measures] (Kämmerer) Article 123 (ex Article 101 TEC) [Prohibition of credit facilities] (Kämmerer) Article 124 (ex Article 102 TEC) [Prohibition of privileged access to financial institutions] (Kämmerer) Article 125 (ex Article 103 TEC) [Prohibition to assume liabilities] (Ohler) Article 126 (ex Article 104 TEC) [Avoidance of excessive deficits; budgetary discipline] (Goldmann) Preliminary notes to Articles 127–133: monetary policy (Waldhoff) Article 127 (ex Article 105 TEC) [Objectives, tasks and competences of the ESCB] (Friebel/Waldhoff) Article 128 (ex Article 106 TEC) [Euro banknotes and euro coins] (Freimuth) Article 129 (ex Article 107 TEC) [Structure of the ESCB; Statute] (Becker) Article 130 [ex Article 108 TEC] [Freedom from instructions and independence] (Siekmann/Gesley) Article 131 (ex Article 109 TEC) [Harmonisation obligation of Member States] (Friebel) Article 132 (ex Article 110 TEC) [Regulatory instruments of the ECB] (Ohler/Wenzel) Article 133 [Legal acts concerning the euro] (Becker) Article 134 (ex Article 114 TEC) [Economic and Financial Committee] (Becker) Article 135 (ex Article 115 TEC) [Recommendations and proposals of the Commission] (Becker) Article 136 [Enhanced cooperation; stability mechanism] (Ohler) Article 137 [Euro Group] (Broemel/Meier) Article 138 (ex Article 111(4) TEC) [External representation of EMU] (Kadelbach) Article 139 [Member States with a derogation] (Broemel) Article 140 (ex Articles 121(1), 122(2), second sentence, and 123(5) TEC) [Convergence Report and Exemption Clauses] (Friebel/Herrmann) Article 141 (ex Articles 123(3) and 117(2) first five indents, TEC) [General Council of the ECB] (Sprung) Article 142 (ex Article 124(1) TEC) [Exchange rate policy] (Broemel) Article 143 (ex Article 119 TEC) [Balance of payment difficulties] (Broemel) Article 144 (ex Article 120 TEC) [Sudden balance of payment crisis] (Broemel) Article 219 (ex Article 111(1) to (3) and (5) TEC) [Monetary and exchange rate agreements] (Kadelbach) Article 282 [Status, governance, tasks and powers] (Becker) Article 283 (ex Article 112 TEC) [Composition of the decision-making bodies of the ECB] (Steven) Article 284 (ex Article 113 TEC) [Participation rights; annual reports] (Becker) Article 340 (ex Article 288 TEC) [Public liability of the Union] (Becker) Article 343 (ex Article 291 TEC) [Privileges and immunities of the Union] (Becker) Part III – Statute of the ESCB/ECB Protocol (No 4) On the Statute of the European System of Central Banks and of the European Central Bank Chapter I: The European System of Central Banks Article 1 The European System of Central Banks (Waldhoff) Chapter II: Objectives and tasks of the ESCB Article 2 Objectives (Waldhoff) Article 3 Tasks (Waldhoff) Article 4 Advisory functions (Waldhoff Article 5 Collection of statistical information (Muscheler/Rheinberger) Article 6 International cooperation (Broemel) Chapter III: Organisation of the ESCB Article 7 Independence (Siekmann) Article 8 General principle (Becker) Article 9 The European Central Bank (Becker) Article 10 The Governing Council (Steven) Article 11 The Executive Board (Steven) Article 12 Responsibilities of the decision-making bodies (Steven/Schweiss) Article 13 The President (Steven) Article 14 National central banks (Steven) Article 15 Reporting commitments (Siekmann) Article 16 Banknotes (Freimuth) Chapter IV: Monetary Functions and Operations of the ESCB Preliminary notes to Articles 17–24 Statute (Heidfeld) Article 17 Accounts with the ECB and the national central banks (Heidfeld) Article 18 Open market and credit operations (Heidfeld) Article 19 Minimum reserves (Heidfeld) Article 20 Other instruments of monetary control (Heidfeld) Article 21 Operations with public entities (Freimuth) Article 22 Clearing and payment systems (Alfes) Article 23 External operations (Kleine) Article 24 Other operations (Kleine) Chapter V: Prudential supervision Article 25 Prudential supervision (Friebel) Chapter VI: Financial provisions of the ESCB Article 26 Financial accounts (Freimuth) Article 27 Auditing (Freimuth) Preliminary notes to Articles 28–33 (Langner) Article 28 Capital of the ECB (Langner) Article 29 Key for capital subscription (Langner) Article 30 Transfer of foreign reserve assets to the ECB (Kleine/Langner) Article 31 Foreign reserve assets held by national central banks (Kleine) Article 32 Allocation of monetary income of national central banks (Langner) Article 33 Allocation of net profi ts and losses of the ECB (Langner) Chapter VII: General Provisions Article 34 Legal acts (Ohler/Wenzel) Article 35 Judicial control and related matters (Broemel) Article 36 Staff (Siekmann) Article 37 (ex Article 38) Professional secrecy (Siekmann) Article 38 (ex Article 39) Signatories (Becker) Article 39 (ex Article 40) Privileges and immunities (Becker) Chapter VIII: Amendment of the Statute and Complementary Legislation Article 40 (ex Article 41) Simplifi ed amendment procedure (Becker) Article 41 (ex Article 42) Complementary legislation (Becker) Chapter IX: Transitional and Other Provisions for the ESCB Article 42 (ex Article 43) General provisions (Broemel) Article 43 (ex Article 44) Transitional tasks of the ECB (Sprung) Article 44 (ex Article 45) The General Council of the ECB (Sprung) Article 45 (ex Article 46) Rules of Procedure of the General Council (Sprung) Article 46 (ex Article 47) Responsibilities of the General Council (Sprung) Article 47 (ex Article 48) Transitional provisions for the capital of the ECB (Langner) Article 48 (ex Article 49) Deferred payment of capital, reserves and provisions of the ECB (Langner) Article 49 (ex Article 52) Exchange of banknotes in the currencies of the Member States (Freimuth) Article 50 (ex Article 53) Applicability of the transitional provisions (Sprung) Part IV – Other Protocols Protocol (No 12) On the excessive defi cit procedure (Goldmann) Protocol (No 13) On the convergence criteria (Friebel) Protocol (No 14) On the euro group (Broemel) Protocol (No 15) On certain provisions relating to the United Kingdom of Great Britain and Northern Ireland (Siekmann) Protocol (No 16) On certain provisions relating to Denmark (Siekmann) Protocol (No 17) On Denmark (Siekmann) Protocol (No 18) On France (Siekmann)
£360.00
Bloomsbury Publishing PLC Secured Transactions Law in Asia: Principles,
Book SynopsisThis collection of essays offers a unique insight and overview of the secured transactions law in many of the most important countries in Asia, as well as reflections on the need for, benefits of and challenges for reform in this area of the law. The book provides a mixture of general reflections on the history, successes and challenges of secured transaction law reform, and critical discussion of the law in a number of Asian countries. In some of the countries, the law has already been reformed, or reform is under way, and here the reforms are considered critically, with recommendations for future work. In other countries, the law is not yet reformed, and the existing law is analysed so as to determine what reform is desirable, and whether it is likely to take place. First, this book will enable those engaging with the law in Asia to understand better the contours of the law in both civil and common law jurisdictions. Second, it provides analytical insights into why secured transactions law reform happens or does not happen, the different methods by which reform takes place, the benefits of reform and the difficulties that need to be overcome for successful reform. Third, it discusses the need for reform where none has yet taken place and critically assesses the reforms which have already been enacted or are being considered. In addition to providing a forum for discussion in relation to the countries in question, this book is also a timely contribution to the wider debate on secured transactions law reform which is taking place around the world.Table of Contents1. Introduction Louise Gullifer, University of Cambridge, UK and Dora Neo, National University of Singapore PART I GENERAL 2. Lost in Transplantation? Modern Principles of Secured Transactions Law as Legal Transplants Charles W Mooney, Jr, University of Pennsylvania, USA 3. Personal Property Securities Law Reform in Developed Jurisdictions Anthony Duggan, University of Toronto, Canada 4. Secured Transactions Law Reform in Asia and Access to Finance: What can the UNCITRAL Model Law on Secured Transactions Offer? N Orkun Akseli, University of Durham, UK 5. Secured Transactions Reform in East Asia: Progress and Challenges Elaine MacEachern, World Bank Group, Financial Institutions Group Advisory Services (Washington DC), USA PART II CIVIL LAW JURISDICTIONS 6. Secured Transactions Law Reform in Civil Law Jurisdictions: Challenging Tradition, Facing Reality, and Embracing Modernity Teresa Rodríguez de las Heras Ballell, , Universidad Carlos III de Madrid, Spain 7. The Law of Secured Transactions in China: Comparison and Future Reform Lebing Wang, University of International Business and Economics, Beijing, PRC. 8. Secured Transactions Law Reform in Indonesia: Fiducia, at a Crossroads Ibrahim Assegaf, STIH Indonesia Jentera, Jakarta, Indonesia and Aria Suyudi, STIH Indonesia Jentera, Jakarta, Indonesia 9. Navigating the Patchwork of Secured Transactions Rules in Japan: Towards a Framework Conducive to Asset Based Lending Megumi Hara, Gakushuin University, Japan 10. Banking the Unbanked: An Examination of the Personal Property Security Act of the Philippines Anthony Amunategui Abad, Ateneo de Manila University, Philippines, David Kintanar Rosario III, Abad Alcantara & Associates, Philippines and Griselda (Gay) Santos, Financial Executives Institute of the Philippines 11. Korea: The Coexistence of Old and New Secured Transactions Law Regimes Youngjoon Kwon, Seoul National University, Korea 12. Law Reform of the Secured Transactions Regime in Taiwan: Modernisation, Controversies, and Prospects Andrew Jen-Guang Lin, National Taiwan University, Taiwan 13. Implementation of International Standards on Secured Transactions into the Thai Legal System: Possibilities and Proposals Parawee Kasitinon, Thammasat University, Bangkok, Thailand 14. Secured Transactions Reform in Vietnam: Prominent Achievements, Experiences, and Lessons Learnt Huyen Pham, International Finance Corporation (IFC), World Bank Group, Vietnam PART III COMMON LAW JURISDICTIONS 15. Secured Transactions Law Reform in Common Law Jurisdictions (Brunei Darussalam as an Example) Louise Gullifer, University of Cambridge, UK 16. Bangladesh Secured Transactions Framework: Moving Towards a Reform Marek Dubovec, Kozolchyk National Law Center, USA and Junayed Chowdhury, Vertex Chambers, Bangladesh and Vertex International Consulting, Australia 17. Secured Transactions Law in India: Suggestions for Reforms M R Umarji, Indian Delegate to UNCITRAL Working Group VI on Secured Transactions Law 18. Pakistan’s Reform of Secured Transactions Law: Challenges and the Road Ahead Marek Dubovec, Kozolchyk National Law Center, USA and Zahra Abid, Haidermota & Co, Pakistan 19. Secured Transactions Law in Singapore: Living with Untidiness Dora Neo, National University of Singapore 20. Conclusion Louise Gullifer, University of Cambridge, UK
£142.50
Bloomsbury Publishing PLC The UNCITRAL Model Law on Electronic Transferable Records
Book SynopsisThis book comprehensively explores the revolution in the use of electronic negotiable instruments and negotiable documents through a thorough examination of the UNCITRAL Model Law on Electronic Transferable Records. The Model Law, a product of the United Nations Commission on International Trade Law, provides the most current and complete law for electronic negotiable instruments. To understand the short 19 articles and explanatory notes of the Model Law requires an extensive background not only in the current practices of digital trade, but also a thorough understanding of the substantive law of negotiable instruments and negotiable documents. This book provides a full and understandable guide through these areas of the law. The authors, all of whom were instrumental in the formation of the Model Law, bring their years of experience in international commercial law to this in-depth and practical examination of this important text. The book is an invaluable resource both for novice as well as experienced commercial, maritime and banking lawyers, for economic policy makers, supply chain management specialists, and for anyone interested in keeping abreast of the fast-changing world of digital trade.Table of Contents1. Introduction 2. Pre-Existing Solutions 3. The Provisions of the MLETR 4. Applications and Technologies 5. Guide to Enactment and Variations
£85.50
Bloomsbury Publishing PLC The Future of High-Cost Credit: Rethinking Payday
Book SynopsisThis book proposes a new way of thinking about the controversial and complex challenges associated with the regulation of high-cost credit, specifically payday lending. These products have received significant attention in both the media and political arena. The inadequacy of regulatory interventions has created ongoing problems with the provision of high-cost credit, particularly for consumers with lesser bargaining power and who are already financially vulnerable. The book tackles two specific gaps in the existing literature. The first involves inadequate analysis of the relevant philosophical concepts around high-cost credit, which can result in an over-simplification of what are particularly complex issues. The second is a lack of engagement in both the market and lived experience of borrowers, resulting in limited understanding of those who use these financial products. The Future of High-Cost Credit explores the theoretical grounding, policy initiatives and interdisciplinary perspectives associated with high-cost credit, making a novel and insightful contribution to the existing literature. The problems with debt extend far beyond the legal sphere, and the book will therefore be of interest to many other academic disciplines, as well as for those working in public policy and ‘the third sector’.Trade ReviewIn a world of increasingly insecure work and runaway inflation, the regulation of payday loans is a central policy priority. The challenge is complex, requiring a broad, interdisciplinary understanding not only of current legal regimes, but also their history, political economy, and lived reality. In this pathbreaking book, Dr Jodi Gardner brilliantly draws on these perspectives to provide urgently required directions for reform. * Jeremias Adams-Prassl, Professor, University of Oxford, UK *This theoretically and empirically rich analysis of high-cost credit provides a clear argument for both regulatory and broader welfare approaches to tackle the problems it causes. As such, this book deserves to be widely read by lawyers and social scientists alike. * Karen Rowlingson, Professor of Social Policy and Dean of the Faculty of Social Sciences, University of York, UK *Jodi Gardner’s The Future of High-Cost Credit blends philosophical, politico-economic and socio-legal analysis to make a sophisticated and important contribution to the debate on regulation of high-cost credit. * Iain Ramsay, Emeritus Professor of Law, University of Kent, UK *Jodi Gardner’s book, The Future of High-Cost Credit, .... steps across the freedom versus regulation dichotomy that typically characterises debate around high cost credit. Taking a clear eyed view of the issues at hand, the book also addresses the often neglected policy debate relevant to the harms arising from consumer reliance on high cost credit ... The Future of High Cost Credit is valuable, and indeed crucial, reading for those interested in contract theory, credit and banking law, financial regulation and social justice. * Jeannie Paterson, Professor of Law, Melbourne Social Equity Institute, Australia *Gardner provides a deft exploration of high-cost credit, or ‘payday’ loans, in the UK – not shying away from complexity and debate. She lays bare the business models which can keep borrowers trapped in an exploitative and expensive cycle of credit, the insufficiencies of the existing regulatory approaches to tame the market, and why the problem will persist as poverty rates soar in the UK. This book is a devastating indictment of the system around high-cost credit. * Mia Gray, Professor of Geography, University of Cambridge, UK *Table of Contents1. Introduction 1.1. Payday Problems 1.2. Why High-Cost Credit? 1.3. Method, Scope and Jurisdiction 1.4. Outline PART I PHILOSOPHICAL CONTEXT: THE CONCEPTS OF HIGH-COST CREDIT 2. High-Cost Credit in the UK 2.1. How is High-Cost Credit Regulated? 2.1.1. The History of Moneylending Regulation 2.1.2. The Office of Fair Trading 2.1.3. The Financial Conduct Authority 2.1.4. Non-Regulatory Legal Enforcement 2.1.5. What Can We Learn? 2.2. What are the Challenges to Regulation? 2.2.1. Victim Blaming 2.2.2. Inadequate Engagement with the Market 2.2.3. What Can We Do? 2.3. Conclusion 3. Freedom 3.1. What is Freedom? 3.2. The History of Freedom 3.3. Justifying Freedom 3.3.1. Consent 3.3.2. Human Rights Approaches 3.3.3. Responsibilisation and Financialisation 3.3.4. Differing Approaches to Financial and Physical Products 3.4. Examples of Freedom 3.4.1. Restrictions on Who Can Lend 3.4.2. Disclosure Obligations and Advertising Restrictions 3.4.3. Cooling-Off Rights 3.4.4. Unfair Relationship Test 3.4.5. Vitiating Factors 3.5. Limitations of Freedom 3.5.1. Failure of Disclosure 3.5.2. Lack of Meaningful Choice 3.5.3. Poverty 3.6. Conclusion 4. Regulation 4.1. What is Regulation? 4.2. The History of Regulation 4.2.1. Usury, Religion and High-Cost Credit 4.2.2. The Development of Regulation 4.2.3. What Can We Learn? 4.3. Explanations for Regulation 4.3.1. Preventing Harmful Outcomes 4.3.2. Stopping Unconscionable Behaviour 4.3.3. Defending the Vulnerable 4.4. Examples of Regulation 4.4.1. Amending or Prohibiting Contract Terms 4.4.2. Prohibiting or Limiting Interest 4.4.3. Responsible Lending Obligations 4.4.4. Unfair Terms Legislation 4.4.5. Common Law Protections 4.5. Limitations of Regulation 4.5.1. Overlap with Limitations of Freedom 4.5.2. Illegal Lending 4.5.3. Financial Exclusion 4.6. Conclusion 5. A Social Minimum 5.1. What is a Social Minimum? 5.2. The History of A Social Minimum 5.2.1. Religious and Charitable Obligations 5.2.2. The Poor Laws 5.2.3. The Beveridge Report 5.2.4. After the ‘Welfare State’ 5.3. Explanations for a Social Minimum 5.3.1. Equality and Liberal Democracy 5.3.2. Government Duty 5.3.3. Social Minimum and Happiness 5.4. Examples of a Social Minimum Provision 5.4.1. Welfare Provision 5.4.2. Bankruptcy Relief 5.4.3. Vitiating Factors 5.5. Limitations of a Social Minimum 5.5.1. Impact on Property Rights 5.5.2. Responsibility for the Social Minimum 5.5.3. Moral Hazards 5.6. Conclusion PART II THE SOCIAL CONTEXT: IDENTIFYING HIGH-COST CREDIT BORROWERS 6. The Lived Experience 6.1. Research Method and Results 6.1.1. Methodology of Stakeholder Interviews 6.1.2. Methodology of Borrower Interviews 6.1.3. Interview Results 6.2. Financially Secure Borrowers 6.2.1. Lending Scenarios 6.2.2. Application to High-Cost Credit Concepts 6.2.3. Application to Current Legal Approach 6.3. Financially Insecure Borrowers 6.3.1. Lending Scenarios 6.3.2. Application to High-Cost Credit Concepts 6.3.3. Application to Current Legal Approach 6.4. Significantly Impaired Borrowers 6.4.1. Lending Scenarios 6.4.2. Application to High-Cost Credit Concepts 6.4.3. Application to Current Legal Approach 6.5. Conclusion 7. Future Directions 7.1. Law Reform Recommendations 7.1.1. Enhanced and Meaningful Disclosure 7.1.2. Responsible Lending Obligations 7.1.3. Opt Out Processes 7.2. Social Welfare Responses 7.2.1. Providing a Social Minimum 7.2.2. Maintaining a Social Minimum 7.3. Further Research 8. Conclusion
£85.50
Bloomsbury Publishing PLC Banking Supervision and Covid-19: A Handbook
Book SynopsisThis book sets out precisely the supervisory response at both the national and European level. All sectors have been impacted by COVID-19 and the ensuing Corona Crisis, not least the banking sector. Pivoting to crisis management, banking supervision has had to change very quickly. It also looks to the future, setting out those challenges that will remain and emerge as the crisis continues.
£190.00
Bloomsbury Publishing PLC Dalhuisen on Transnational and Comparative
Book Synopsis“… presents a very different case: that of a civilized and cultivated cosmopolitan legal scholar, with a keen sense of international commercial and financial practice, with an in-depth grounding in both comparative legal history and comparative law, combined with the ability to transcend conventional English black-letter law description with critical judgment towards institutional wisdom and intellectual fashions.” (International and Comparative Law Quarterly) Volume 5 of this new edition uses the insights developed in Volumes 3 and 4 to deal with financial products and financial services, the structure and operation of banking and of the capital markets, and the role of modern commercial and investment banks. Sections on products and services address the blockchain and its potential in the payment system, in securitisations, in the custodial holdings of investment securities, and in the derivative markets. The complete set in this magisterial work is made up of 6 volumes. Used independently, each volume allows the reader to delve into a particular topic. Alternatively, all volumes can be read together for a comprehensive overview of transnational comparative commercial, financial and trade law.Table of Contents1. Secured Transactions, Finance Sales and Other Financial Products and Services 1.1 Civil and Common Law Approaches to Financial Law. Credit Cultures and Transnationalisation 1.2 The Situation in the Netherlands 1.3 The Situation in France 1.4 The Situation in Germany 1.5 The Situation in the UK 1.6 The Situation in the US 2. Financial Products and Funding Techniques. Private, Regulatory and International Aspects 2.1 Finance Sales as Distinguished from Secured Transactions: The Re-characterisation Risk 2.2 Modern Security Interests: The Example of the Floating Charge 2.3 Receivable Financing and Factoring. The 1988 UNIDROIT Factoring Convention and the 2001 UNCITRAL Convention on the Assignment of Receivables in International Trade 2.4 Modern Finance Sales: The Example of the Finance Lease. The 1988 UNIDROIT Leasing Convention 2.5 Asset Securitisation and Credit Derivatives. Covered Bonds 2.6 Options, Futures and Swaps. Their Use and Transfers. The Operation of Derivatives Markets, Clearing and Settlement and the Function of Central Counterparties 2.7 Institutional Investment Management, Funds, Fund Management and Prime Brokerage 3. Payments, Modern Payment Methods and Systems. Set-off and Netting as Ways of Payment. International Payments. Money Laundering 3.1 Payments, Payment Systems. Money and Bank Accounts 3.2 The Principles and Importance of Set-off and Netting 3.3 Traditional Forms of International Payment 3.4 Money Laundering 4. Security Entitlements and Their Transfers through Securities Accounts. Securities Repos 4.1 Investment Securities Entitlements and Their Transfers. Securities Shorting, Borrowing and Repledging. Clearing and Settlement of Investment Securities 4.2 Investment Securities Repos
£133.00
Bloomsbury Publishing PLC Dalhuisen on Transnational and Comparative
Book Synopsis“… presents a very different case: that of a civilized and cultivated cosmopolitan legal scholar, with a keen sense of international commercial and financial practice, with an in-depth grounding in both comparative legal history and comparative law, combined with the ability to transcend conventional English black-letter law description with critical judgment towards institutional wisdom and intellectual fashions.” (International and Comparative Law Quarterly) Volume 5 of this new edition uses the insights developed in Volumes 3 and 4 to deal with financial products and financial services, the structure and operation of banking and of the capital markets, and the role of modern commercial and investment banks. Sections on products and services address the blockchain and its potential in the payment system, in securitisations, in the custodial holdings of investment securities, and in the derivative markets. The complete set in this magisterial work is made up of 6 volumes. Used independently, each volume allows the reader to delve into a particular topic. Alternatively, all volumes can be read together for a comprehensive overview of transnational comparative commercial, financial and trade law.Table of Contents1. Secured Transactions, Finance Sales and Other Financial Products and Services 1.1 Civil and Common Law Approaches to Financial Law. Credit Cultures and Transnationalisation 1.2 The Situation in the Netherlands 1.3 The Situation in France 1.4 The Situation in Germany 1.5 The Situation in the UK 1.6 The Situation in the US 2. Financial Products and Funding Techniques. Private, Regulatory and International Aspects 2.1 Finance Sales as Distinguished from Secured Transactions: The Re-characterisation Risk 2.2 Modern Security Interests: The Example of the Floating Charge 2.3 Receivable Financing and Factoring. The 1988 UNIDROIT Factoring Convention and the 2001 UNCITRAL Convention on the Assignment of Receivables in International Trade 2.4 Modern Finance Sales: The Example of the Finance Lease. The 1988 UNIDROIT Leasing Convention 2.5 Asset Securitisation and Credit Derivatives. Covered Bonds 2.6 Options, Futures and Swaps. Their Use and Transfers. The Operation of Derivatives Markets, Clearing and Settlement and the Function of Central Counterparties 2.7 Institutional Investment Management, Funds, Fund Management and Prime Brokerage 3. Payments, Modern Payment Methods and Systems. Set-off and Netting as Ways of Payment. International Payments. Money Laundering 3.1 Payments, Payment Systems. Money and Bank Accounts 3.2 The Principles and Importance of Set-off and Netting 3.3 Traditional Forms of International Payment 3.4 Money Laundering 4. Security Entitlements and Their Transfers through Securities Accounts. Securities Repos 4.1 Investment Securities Entitlements and Their Transfers. Securities Shorting, Borrowing and Repledging. Clearing and Settlement of Investment Securities 4.2 Investment Securities Repos
£61.74
Bloomsbury Publishing PLC Money Law, Capital, and the Changing Identity of
Book SynopsisThis book addresses 3 questions: is money a way to create a European Union identity? If so, which type of identity is this? And in what ways is the EU identity changing? The book brings together experts from a variety of backgrounds and academic approaches to analyse the law of money and payments on the one side, and the law of capital and investments on the other. The book is divided into 2 parts. Part I covers scriptural, electronic, and digital money. It analyses the European framework for payment services users, explores limits and challenges of the Banking Union, and looks at the project for a digital euro. Part II investigates the policy and regulatory drivers of the EU's changing identity, from the early modern roots of the European law of money and capital to the regulatory strategy set in the Capital Markets Union and the role conferred on venture capital; from the fintech-based developments of payment systems to the newly-established fiscal and monetary policies in the post-COVID phase. The book will be of interest to researchers, academics and policy makers in the fields of law and regulation, as well as political economy and political sciences.Table of Contents1. The Life of EU Money: Value, Credit and Capital as Societal Processes Valentino Cattelan (Birmingham City University, UK; IE Business School, Spain) 2. Monetary Identity of the EU and The Drivers of Regulatory Change Gabriella Gimigliano (University of Siena, Italy) Part I: The Changing Matter of EU Money 3. EU Law of Money and the Payment Service Consumers: Miles Done and the Challenges Ahead Gabriella Gimigliano (University of Siena, Italy) 4. The Interplay Between the Framework for Payment Services and Data Protection: a Piece of European Community Identity Malgorzata Cyndecka (University of Bergen, Norway) 5. Boosting Economic Growth in Europe with Help of Technology: Innovation and the Role of FinTechs in Payments Ruth Wandhöfer (Chair of the Payment Systems Regulator Panel, UK) 6. A Substitute Without Substitute: Cash Money, Digital Euros, and the Shifting Futures of Currency Communities Ursula M Dalinghaus (Ripon College, USA) 7. Thinking of the Digital Euro as Legal Tender Gian Luca Greco (University of Milan ‘Statale’, Italy) and Vittorio Santoro (University of Siena, Italy) 8. The Approximation of National Banking Law in the European Banking Union Maria Elena Salerno (University of Siena, Italy) 9. The Banking Union in the Aftermath of the COVID-19 Pandemic: An Incentive to Finalise the Project? Marco Bodellini (Queen Mary University of London, UK) Part II: The Energy of Credit and Capital 10. The Progressively Increasing Relevance of Commercial Partnerships’ Monetary Capital in Early Modern Europe Luisa Brunori (University of Lille, France) 11. Towards European Venture Capital? A Proposal for More State Involvement in Venture Capital to Foster Inclusive and Green Growth and European Community Johannes Lenhard (University of Cambridge, UK) and Leo Rees (Milltown Partners LLP, UK) 12. Building an EU Venture Capital Market: What about Corporate Law? Casimiro a Nigro (Goethe University, Germany) and Alperen A Gözlügöl (Leibniz Institute for Financial Research, Germany) 13. Policy Coherence for Corporate Sustainability in the EU: Can We Achieve Sustainable Corporate Governance Without Sustainable Finance? Alexandra Andhov (University of Copenhagen, Denmark) and Lela Mélon (Pompeu Fabra University, Spain) 14. Fintech in Luxembourg: A new risk-management approach Marc Pilkington (Epoka University, Albania) 15. Some Thoughts on the Uneasy Fit Between the ECB’s Legal Mandate and its Crisis-Driven, ‘Whatever it Takes’, Policy Empowerment Marta Božina Beroš (Juraj Dobrila University of Pula, Croatia) and Marin Beroš (Ivo Pilar Institute for Social Sciences, Croatia)
£90.25
Bloomsbury Publishing PLC International Bank Crisis Management: A
Book SynopsisThis book analyses the legal regimes governing bank crisis management in the EU, UK, and US, discussing the different procedures and tools available as well as the regulatory architecture and the authorities involved. Building on a broad working definition of ‘bank crisis management’ and referring to several cases, the book explores the techniques and approaches employed by the authorities to deal with troubled banks on both sides of the Atlantic. The legal analysis distinguishes between procedures and tools aimed at liquidating the bank in crisis vis-à-vis those aimed at restructuring. In this regard, attention is paid to the rules allowing for the use of public money in handling banks in trouble as well as to the role that deposit insurance schemes can play. Considerations on the impact on banks of the current crisis provoked by the COVID-19 pandemic are advanced, primarily focusing on the expected surge of non-performing loans as well as on ways to effectively manage these assets. The book approaches these issues from a comparative law perspective, providing law and economics considerations and focusing on strengths and drawbacks of the rules currently in force. The book advances policy considerations as well as reform proposals aiming at enhancing the legal regimes in force, with particular reference to the Consultation promoted in 2021 by the European Commission on the adoption of a new bank crisis management and deposit insurance framework in the Union.Trade ReviewThis book presents a timely analysis of bank crisis management measures at various stages. It is a must-read for those who wish to grasp a full picture of what tools could be applied in a banking crisis. -- Shuai Guo * International Insolvency Review *Table of Contents1. International Bank Crisis Management: Framing the Key Definitions and Drawing the Perimeter of the Analysis I. Introduction II. Bank Crisis Management: Framing the Key Definitions III. Other Relevant Definitions IV. Jurisdiction-Specific Definitions V. The Perimeter of the Analysis 2. The Bank Supervisory and Crisis Management Architecture in the EU, UK and US I. Introduction II. The European Banking Union III. The UK Bank Supervisory and Crisis Management Architecture IV. The US Bank Supervisory and Crisis Management Architecture 3. The First Lines of Defence: Bank Capital and Early Intervention Measures I. Introduction II. The Concept of Capital and the Rationale behind Minimum Bank Capital Requirements III. Capital Requirements and the Role of the Basel Committee on Banking Supervision IV. The Adoption of Basel I V. The Adoption of Basel II VI. The Adoption of Basel III VII. The Adoption of Basel IV VIII. Early Intervention Measures IX. The Effectiveness of Capital and Early Intervention Measures as First Lines of Defence 4. The Crisis of Non-Systemic Institutions: Bank Insolvency Regimes I. Introduction II. The New EU Regime and its Weaknesses III. Towards the Establishment of a New EU Harmonised Bank Insolvency Regime Inspired by the Italian, UK and US Frameworks and Experiences IV. The Italian Legal Framework V. Compulsory Administrative Liquidation under Italian Law VI. Bank Liquidation and the EU State Aid Framework: The So-called Liquidation Aid VII. The UK Regime VIII. The US Regime IX. Receivership X. The FDIC Strategies XI. Concluding Remarks 5. The Crisis of Systemic Institutions: Resolution and Orderly Liquidation Authority I. Introduction II. Resolution in the EU III. The Resolution Tools IV. Bail-in V. Resolution Funds VI. The Provision of Public Funds in the Context of Resolution and the Interaction between the Resolution Regime and the State Aid Framework VII. Impediments to Resolvability VIII. Resolution within the Banking Union IX. The UK Regime X. The US Regime: The Orderly Liquidation Authority XI. Concluding Remarks 6. Deposit Guarantee Schemes I. Introduction II. The Functions Performed by Deposit Guarantee Schemes in Bank Crises III. The Interplay between the Legislation on DGSs and the State Aid Regime IV. The Key Contributions of DGSs in Handling Bank Crises V. The General Court of the European Union and the Court of Justice of the European Union Judgments in the Banca Tercas Case VI. The Current Legal Constraints to DGSs’ Optional Interventions in Bank Crises VII. Deposit Insurance in the US VIII. A Limited-Scope Reform Proposal to Allow DGSs to Play a Leading Role in Bank Crises 7. The Legacy of the COVID-19 Crisis: The Non-Performing Loan Problem I. Introduction II. Non-Performing Loans III. How to Tackle the Non-Performing Loan Problem: Asset Management Companies IV. Types of NPLs to Transfer V. Transfer Price VI. Capital and Funding Structure and Governance Arrangements VII. Concluding Remarks 8. Conclusions
£85.50
Bloomsbury Publishing PLC European Banking Union
Book SynopsisThis new commentary analyses, article by article, the two most important regulations on the European banking union: firstly, the Single Supervisory Mechanism with the ECB as the single supervisory authority for major banking institutions; and secondly, the Single Resolution Mechanism with the Single Resolution Fund as the centralized decision-making body in the eurozone.Table of ContentsSINGLE SUPERVISORY MECHANISM REGULATION Art. 1 Subject matter and scope Art. 2 Definitions Article 2 SSM Framework Regulation Definitions Art. 3 Cooperation Art. 4 Tasks conferred on the ECB Art. 5 Macro-prudential tasks and tools Arts. 103–105 SSM Framework Regulation Art. 6 Cooperation within the SSM Art. 7 Close cooperation with the competent authorities of participating Member States whose currency is not the euro Art. 8 International relations Art. 9 Supervisory and investigatory powers Art. 10 Request for information Art. 11 General investigations Art. 12 On-site inspections Art. 13 Authorisation by a judicial authority Art. 14 Authorisation Art. 15 Assessment of acquisitions of qualifying holdings Art. 16 Supervisory powers Art. 17 Powers of host authorities and cooperation on supervision on a consolidated basis Arts. 8–17 SSM Framework Regulation Art. 18 Administrative penalties Art. 19 Independence Art. 20 Accountability and reporting Art. 21 National parliaments Art. 22 Due process for adopting supervisory decisions Art. 23 Reporting of violations Art. 24 Administrative Board of Review Art. 25 Separation from monetary policy function Art. 26 Supervisory board Art. 27 Professional secrecy and exchange of information Art. 28 Resources Art. 29 Budget and annual accounts Art. 30 Supervisory fees Art. 31 Staff and staff exchange Art. 32 Review Art. 33 Transitional provisions Art. 34 Entry into force SINGLE RESOLUTION MECHANISM REGULATION Art. 1 Subject matter Art. 2 Scope Art. 3 Definitions Art. 4 Participating Member States Art. 5 Relation to Directive 2014/59/EU and applicable national law Art. 6 General Principles Art. 7 Division of tasks within the SRM Art. 8 Resolution plans drawn up by the Board Art. 9 Resolution plans drawn up by national resolution authorities Art. 10 Assessment of resolvability Art. 10a Power to Prohibit Certain Distributions Art. 11 Simplified obligations for certain institutions Arts. 12–12k Minimum requirements Art. 13 Early intervention Art. 14 Resolution Objectives Art. 15 General principles governing resolution Art. 16 Resolution of financial institutions and parent undertakings Art. 17 Order of priority of claims Art. 18 Resolution procedure Art. 19 State aid and Fund aid Art. 20 Valuation for the purposes of resolution Art. 21 Write-down and conversion of capital instruments or eligible liabilities Art. 22 General principles of resolution tools Art. 23 Resolution Scheme Art. 24 Sale of business tool Art. 25 Bridge Institution Tool Art. 26 Asset separation tool Art. 27 Bail-in tool Art. 28 Monitoring by the Board Art. 29 Implementation of decisions under this Regulation Art. 30 Obligation to cooperate and information exchange within the SRM Art. 31 Cooperation within the SRM Art. 32 Consultation of, and cooperation with, non-participating Member States and third countries Art. 33 Recognition and enforcement of third-country resolution proceedings Art. 34 Requests for information Art. 35 General investigations Art. 36 On-site inspections Art. 37 Authorisation by a judicial authority Art. 38 Fines Art. 39 Periodic penalty payments Art. 40 Hearing of the persons subject to the proceedings Art. 41 Disclosure, nature, enforcement and allocations of fines and periodic penalty payments Art. 42 Legal status Art. 43 Composition Art. 44 Compliance with Union law Art. 45 Accountability Art. 46 National parliaments Art. 47 Independence Art. 48 Seat Art. 49 Participation in plenary sessions Art. 50 Tasks Art. 51 Meeting of the plenary session of the Board Art. 52 General provisions on the decision-making process Art. 53 Participation in the executive sessions Art. 54 Tasks Art. 55 Decision-making Art. 56 Appointment and tasks Art. 57 Resources Art. 58 Budget Art. 59 Part I of the budget on the administration of the Board Art. 60 Part II of the budget on the Fund Art. 61 Establishment and implementation of the budget Art. 62 Internal audit and control Art. 63 Implementation of the budget, presentation of accounts and discharge Art. 64 Financial rules Art. 65 Contributions to the administrative expenditures of the Board Art. 66 Anti-fraud measures Introduction to Arts. 67–74 SRMR Art. 67 General provisions Art. 68 Requirement to establish resolution financing arrangements Art. 69 Target level Art. 70 Ex-ante contributions Art. 71 Extraordinary ex-post contributions Art. 72 Voluntary borrowing between resolution financing arrangements Art. 73 Alternative funding means Art. 74 Access to financial facility Art. 75 Investments Art. 76 Mission of the Fund Art. 77 Use of the Fund Art. 78 Mutualisation of national financing arrangements in the case of group resolution involving institutions in non-participating Member States Art. 79 Use of deposit guarantee schemes in the context of resolution Art. 80 Privileges and immunities Art. 81 Language arrangements Art. 82 Staff Art. 83 Staff exchange Art. 84 Internal committees Art. 85 Appeal Panel Art. 86 Actions before the Court of Justice Art. 87 Liability of the Board Art. 88 Professional secrecy and exchange of information Art. 89 Data protection Art. 90 Access to documents Art. 91 Protection of classified and sensitive non-classified information Art. 92 Court of Auditors Art. 93 Exercise of the delegation Art. 94 Review Art. 95 Amendment to Regulation (EU) No 1093/2010 Art. 96 Replacement of national resolution financing arrangements Art. 97 Headquarters Agreement and operating conditions Art. 98 Start of the Board’s activities Art. 99 Entry into force
£300.00
Bloomsbury Publishing PLC The Financial Constitution of European Integration
Book SynopsisThis open access book delivers a much-needed analysis of the relationship between the EU's financial constitution and European integration.The economic rescue package NextGenerationEU has multiplied the EU's financial volume and thereby raised the question of the state of European integration anew. This open-access book ''follows the money'' and surveys the financial constitution of European integration from the perspective of law, political economy, and history.Structured into 3 thematic parts, the book focuses on past and present developments of the fiscal structure of the EU as well as potential future outcomes. It raises an array of questions that are answered from different disciplinary perspectives and through the eyes of academia and practice: can underlying design flaws of the European Monetary Union be identified? What about the legality and the economic implications of the innovative policy-making at the EU level in response to the COVID-19 pandemic? What do these reflections on the EU financial constitution reveal about the development of European integration as a whole? The ebook editions of this book are available open access under a CC BY 4.0 licence on bloomsburycollections.com.
£42.99
Bloomsbury Publishing PLC International Guide to Money Laundering Law and
Book SynopsisStarting with an overview of the development of money laundering and the work of international organisations, International Guide to Money Laundering Law and Practice is a unique publication providing a detailed insight into the background of money laundering operations, clearly explaining the anti-money laundering laws and regulations in 35 key global financial centres throughout the world. In addition, there are four chapters considering money laundering law and practice in the UK with the emphasis on the legal and regulatory framework and include: a chapter on the accounting and auditing issues; and a chapter on confiscating the proceeds of crime written by Jonathan Fisher, QC, a leading barrister specialising in corporate and financial crime, proceeds of crime and tax cases. It also contains a chapter covering international responses and initiatives to money laundering. The fifth edition covers, amongst other things, the implementation of the Fifth EU Money Laundering Directive and the Criminal Finances Bill. Written by local experts and edited by a team from Baker McKenzie's Financial Services Group, International Guide to Money Laundering Law and Practice is the leading, authoritative text on this heavily regulated area of law. It is essential for all banking and finance practitioners involved in anti-money laundering, banks, compliance officers and regulators in order to keep abreast of the developments and compliant with the law and regulations internationally. This title is included in Bloomsbury Professional's Banking and Finance online service.Trade ReviewThis book is simply and currently unsurpassable as the comparative reference book on this subject and will remain so for the foreseeable future. * The Law Society Gazette *...an extremely useful one stop shop for international money laundering law...should have a place in every practitioner's library -- Review of 4th edition, Peter Binning, partner, Corker Binning * New Law Journal *This timely and illuminating resource book has the potential to become an indispensable reference text for lawyers, law firms and regulators specializing in economic crime as they try to understand how different legal systems approach and deal with this ubiquitous problem. * Commonwealth Lawyer *Table of Contents1 UK Part I: UK money laundering – typological considerations 2 UK Part II: UK law and practice 3 UK Part III: practical implementation of Regulations and Rules 4 UK Part IV: confiscating the proceeds of crime 5 UK Part V: accounting and auditing issues 6 International initiatives 7 Argentina 8 Australia 9 Austria 10 The Bahamas 11 Belgium 12 Bermuda 13 Brazil 14 British Virgin Islands 15 Canada 16 Cayman Islands 17 China 18 Cyprus 18A France 19 Germany 20 Gibraltar 21 Greece 22 Guernsey 23 Hong Kong 24 India 25 The Isle of Man 26 Italy 27 Japan 28 Jersey 29 Liechtenstein 30 Luxembourg 31 The Netherlands 32 New Zealand 33 Russia 34 Saudi Arabia 35 Singapore 36 South Africa 37 Spain 38 Switzerland 39 Ukraine 40 United Arab Emirates 41 United States of America
£308.75
Bloomsbury Publishing PLC Conduct and Accountability in Financial Services:
Book SynopsisAre you fully prepared for the implementation of the Senior Managers and Certification Regime across financial services firms and the related regulatory scrutiny on conduct and accountability? The 2008 financial crisis sparked major changes in global financial services regulation with attention and resources focused on the behaviour of firms and senior individuals and how they conduct their business. Regulatory reforms have been designed and implemented globally to address accountability and conduct in financial services. In the UK this has resulted in the Senior Managers and Certification Regime (SM&CR) being implemented across all FSMA-regulated firms. Conduct and Accountability in Financial Services: A Practical Guide provides comprehensive and expert guidance on how best to implement and comply with the SM&CR. In addition to acting as a guide to rule book requirements and regulatory expectations, it provides an in-depth look at the implications of the global focus on culture and conduct risk. A must-read text for all staff in UK financial services firms, professional associations, industry bodies, regulators, academics and advisers to financial services organisations, it covers: The context and regulatory basis for SM&CR including an overview of the development and roll-out of the regime Analysis of key changes from the previous ‘approved person’ approach Practical considerations for HR, internal audit and non-executive directors The increasing role of culture and conduct risk A practical overview of enforcement, penalties and learning lessons from enforcement actions Overarching principles of how to manage personal regulatory risk Regulatory relationship management The impact of technology An overview of related global developments Appendices with timeline, bibliography and a selection of other useful sources for senior managers Conduct and Accountability in Financial Services: A Practical Guide is on the syllabus reading list for the Regulation and Compliance exam offered by the Chartered Institute of Securities and Investments. This title is included in Bloomsbury Professional's Banking and Finance online service.Trade Review...provide[s] an excellent overview of conduct, culture, and governance expectations worldwide and talk[s] about the implications of the global focus on culture and conduct risk. -- Julie DiMauro * The FCPA Blog *As an article contributor to the Journal of Financial Compliance 2022, I found the text by English and Hammond an invaluable source of accurate regulatory compliance information to draw from. Well laid out, clear and detailed, I also look forward to the second edition of this important contribution to the field. -- EMEA Head of Commercial Bank Compliance, Citi * Rocky Hirst *Table of ContentsChapter 1: Context and drivers for the new regime Chapter 2: Key changes from previous regime Chapter 3: Specifics based of the Senior Managers and Certification Regime as it applies to banks and large investment firms Chapter 4: Specifics of the Senior Managers and Certification Regime for insurers Chapter 5: Extension of SM&CR to (almost) all financial services firms Chapter 6: Key roles in embedding and overseeing the SM&CR Chapter 7: Practical aspects of better risk mitigation Chapter 8: Practical challenges to overcome Chapter 9: Role of culture and conduct risk Chapter 10: Other areas personal liability can arise Chapter 11: Enforcement Chapter 12: Overarching principles for how to manage personal regulatory risk Chapter 13: Regulatory relationship management Chapter 14: Technology Chapter 15: Overview of related global developments Appendix 1: Full timeline Appendix 2: Useful sources for senior managers of UK financial services firms
£87.26
