Banking law Books

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Book SynopsisA contemporary, accessible, contextual textbook, covering banking law and regulation in the modern, post-2008 environment, this is essential reading for banking law students.Trade ReviewA tremendous resource for students and teachers as well as practitioners...wide-ranging and systematic, clear and accessible...I expect it to become a classic text * Professor Iain MacNeil, Head of School of Law, University of Glasgow *Essential reading for any student interested in the aftermath of the global financial crisis. The contextual approach makes it appealing to a broader audience. * Professor Rosa Maria Lastra, Sir John Lubbock Chair in Banking Law, Queen Mary University of London *A definite go-to text...easy to understand and identifies and explains the important concepts. I cannot point to another book that provides such a broad and comprehensive analysis. * Daniel Huang, law student at the University of Birmingham *

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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

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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

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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

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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.

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Book SynopsisThis collection critically explores the use of financial technology (FinTech) and artificial intelligence (AI) in the financial sector and discusses effective regulation and the prevention of crime.Focusing on crypto-assets, InsureTech and the digitisation of financial dispute resolution, the book examines the strategic and ethical aspects of incorporating AI into the financial sector. The volume adopts a comparative legal approach to: critically evaluate the strategic and ethical benefits and challenges of AI in the financial sector; critically analyse the role, values and challenges of FinTech in society; make recommendations on protecting vulnerable customers without restricting financial innovation; and to make recommendations on effective regulation and prevention of crime in these areas.The book will be of interest to teachers and students of banking and financial regulation related modules, researchers in computer science, corporate governance, and business and Trade Review"The edited collection FinTech, Artificial Intelligence and the Law raises critical legal and ethical issues in the important and contemporary topic of technology in finance. Ryder and Lui’s book incorporates a range of chapters on the opportunities and challenges that come with Artificial Intelligence, and contains interesting recommendations on FinTech and Law. Lui and Ryder's editing has brought together a roster of diverse contributors on topical issues, while leaving room for new perspectives that will shape the future of fintech globally. As such, this interdisciplinary collection will be beneficial to international development and non-governmental organisation practitioners, employees within the financial services sector, as well as professional services such as law, technology and corporate governance."Ronda Zelezny-Green, PhDTable of ContentsPart 11. Introduction-Mind the GapsPart 2-The FinTech Ecosystem2. Automation, Virtualisation, and Value3. InsurTech’s Assurance – Value Research through an Array of ABCs4. Improving the digital financial services ecosystem through collaboration of regulators and FinTech companies5. Designing Social-Purpose FinTech: A UK Case StudyPart 3-Regulation of Cryptoassets and Blockchains6. Should we trade market stability for more financial inclusion? The case of crypto-assets’ regulation in EU7. Initial Coin Offerings: Financial Innovation or Scam8. Cryptocurrency and Crime9. Technology and tax evasion in the world of finance: an indispensable helping hand or a façade for crime facilitation?10. The Bank of England’s approach to Central Bank Digital Currencies - Considerations regarding a native digital pound and the regulatory aspectsPart 4-Artificial Intelligence and the Law11. AI, Big Data, Quantum Computing and Financial Exclusion: tempering enthusiasm and offering a human centric approach to policy12. Risk of discrimination in AI systems: evaluating the effectiveness of current legal safeguards in tackling algorithmic discrimination13. Unprecedented times: Artificial Intelligence and the implications for Intellectual Property14. Towards a Responsible Use of Artificial Intelligence (AI) and Fintech in Modern Banking

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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.

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Book SynopsisIn 2012, at the height of the sovereign debt crisis, European decision makers pushed for developing an ‘ever closer union’ with the formation of a European Banking Union (BU). Although it provoked widespread debate, to date there has been no coherent discussion of the political and constitutional dimensions of the European Banking Union. This important new publication fills this gap. Drawing on the expertise of recognised experts in the field, it explores banking union from legal, economic and political perspectives. It takes a four-part approach. Firstly, it sets the scene by examining the constitutional foundations of banking union. Then in parts 2 and 3, it looks at the implications of banking union for European integration and for democracy. Finally it asks whether banking union might be more usefully regarded as a trade-off between integration and democracy. This is an important, timely and authoritative collection.Trade ReviewBoth academic scholars and practitioners dealing with legal questions in the area of European integration and financial regulation can learn much from the informed contributions on this work. Furthermore, anyone interested in the state of democracy in Europe will find new information and inspiration in this volume. -- Sebastian Heidebrecht, University of Duisburg-Essen * Journal of Common Market Studies *The issues examined in the book ... are addressed in an interesting way. Readers can find a lot of information and multiple analyses, legal and economic, political and technical ... Clearly, the authors give us food for thought. It is the reason why the book must be read. -- Thierry Bonneau, Professor of Law, Pantheon-Assas University * Journal of International Banking Law and Regulation *This book will undoubtedly be of interest to any scholar interested in understanding how the EBU functions, and most importantly how it is embedded within the EU’s constitutional framework. -- Diane Fromage, University of Maastricht * European Law Review *Table of Contents1. The European Banking Union and Constitution – The Overall Challenge Stefan Grundmann and Hans-W Micklitz PART I SOME CONSTITUTIONAL FOUNDATIONS OF EUROPEAN BANKING UNION 2. The Constitutional Dimension of Banking Union Takis Tridimas 3. The Thin Red Line Between the OMT Decision and the Banking Union Alessandro Busca PART II EUROPEAN BANKING UNION AND FULL INTEGRATION 4. The European Banking Union and Integration Stefan Grundmann 5. Banking Union and the European Economic Constitution: A Brief Comparison of Regulatory Styles in Banking Regulation and Competition Law Heike Schweitzer 6. Technocratic and Centralised Decision-making in the Banking Union’s Single Supervisory Mechanism: Can Single Market and Banking Union Governance Eff ectively Co-exist in a Post-Brexit World? Niamh Moloney 7. Single Resolution Board: Lost and Found in the Thicket of EU Bank Regulation Agnieszka Smolenska PART III EUROPEAN BANKING UNION, DEMOCRACY AND TECHNOCRACY 8. Some Reflections on the State of European Democracy with Regard to the Banking Union and the ECB Christoph Möllers 9. The European Banking Union: A Case of Tempered Supranationalism? Sergio Fabbrini and Mattia Guidi 10. Prudential Supervision and the European Central Bank Credit Data Registry (AnaCredit): Legal Basis and Democratic Accountability Federico Ferretti 11. The Internal Market and the Banking Union Hans-W. Micklitz 12. Should Non-participating Member States Join the Banking Union? A Legal Perspective Dalvinder Singh

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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

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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

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Book SynopsisThis authoritative Commentary analyses the EU credit servicers directive, which represents a notable step towards legislative reform in the debt recovery framework. It provides an in-depth examination of the necessary legislative reform which serves to expedite the development of secondary markets for Non-Performing Loans.

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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

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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

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Book Synopsis“This new edition of Consumer Credit Law and Practice - A Guide…is an essential tool for practitioners and scholars working in this field and I recommend it highly." From the Foreword by Roy Goode An easily accessible guide covering all aspects of consumer credit, consumer hire and ancillary credit businesses, this title is the most useful and comprehensive single volume work on consumer credit law and practice, and related subjects. Written in a clear and penetrating style, the new Sixth Edition has been extensively updated since 2018 and takes account of all relevant case law, legislative changes and developments and includes coverage of: - the impact of the UK’s departure from the European Union - extended analysis of the scheme of regulation under FSMA - the Financial Services and Markets Act 2023 - FCA developments, including the senior managers regime and the consumer credit sourcebook - the financial promotions regime - validation of credit agreements - mortgage contracts and P2P agreements - expanded analysis of dispute resolution and the role of FOS - the new Consumer Duty and the overlay with TCF (treating customers fairly) It is essential reading for: banking and commercial law practitioners; in-house lawyers; companies operating in consumer credit related industries, including banks and building societies, credit card companies, finance and leasing companies; compliance officers and personnel; and consumer advisers.Trade ReviewThere is a great need for a work which reduces the mass of case law and regulation covered in encyclopaedic works into a clear, concise and readable form which steers a way through the labyrinth. This is just such a book... -- Roy Goode, University of Oxford * Foreword to 5th Edition *It's the best guide I have seen so recommended. -- CityBoy * Amazon *Consumer Credit Law and Practice - A Guide achieves its aim of providing a clear explanation of consumer credit law with considerable ease. It provides an excellent account of the legislative framework and is written in a logical and engaging way...it remains an ideal text for anyone studying, practising or interested in this fascinating area of law. -- Student Law Journal * Review of Previous Edition *Table of Contents1. Development of United Kingdom consumer credit law 2. The general structure of the regulation of consumer credit agreements and consumer hire agreements 3. Consumer credit and consumer hire 4. Types of credit and credit agreements 5. Hire agreements 6. Exempt agreements 7. Multiple agreements; modifying agreements; novation, variation and assignment of agreements 8. The regulated agreement, pre-contract information and disclosure 9. Contract terms 10. Duties of creditor/owner and rights of debtor/hirer, prior to, during and after entry a regulated agreement 11. Post-contract Information 12. Linked transactions 13. Credit brokers 14. Agency 15. The supplier and related supplies 16. Ancillary credit businesses 17. Credit cards and other payment cards 18. Security (including mortgages) 19: The total charge for credit and APR 20. Advertising and promoting credit and hire facilities and ancillary credit business 21. Creditworthiness requirements 22. Discrete consumer credit agreements 23. Electronic communications 24. Unfair relationships 25. Enforcement, dispute resolution, damages claims and validation orders 26. Fraud, money laundering, criminal offences and civil penalties 27. Data protection 28. Funding and outsourcing 29. Miscellaneous accounting and tax aspects 30. The overall scheme of regulation by the FCA 31. The FCA Senior Managers and Certification regime 32. The consumer duty 33: FCA supervision, regulatory reporting and enforcement 34. Alternative dispute resolution 35. The European Community context 36. Concluding reflections

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Book SynopsisMadeleine Yates, Special Regulatory Advisor, Clifford Chance, London, UK.Gerald Montagu, Partner (from late November 2025), Corporate Tax, Private Client and Tax Disputes group, Stephenson Harwood LLP, London, UK.

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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).

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Book SynopsisThe global financial crisis that struck Europe has profoundly affected its political, economic and regulatory landscape. This Research Handbook provides an inter-disciplinary view of State interventions in the banking sector, their control under State aid rules since the financial crisis of 2008 and the progressive emergence of a pan-European regulation of banks in distress.Assessing the policy of bank rescues over the past nine years provides a striking summary of European successes and failures and of the continuing tension between integration and fragmentation forces at play within the EU and its single market. This Research Handbook offers insights from law and economics - on the extent to which the EU/EEA State aid regime is able to address adequately the concerns of financial regulation without losing sight of its primary purpose. The contributors include academics, specialists in financial regulation, lawyers, economists and regulators, who have all followed or been directly involved in cases relating to the financial crisis.The Research Handbook on State Aid in the Banking Sector will appeal to advanced students and academics in law and economics, particularly those with an interest in financial institutions, governance and banking.Contributors include: C. Botelho Moniz, G. Bruzzone, M. Cassella, A. Champsaur, F. Coupé, F. de Cecco, J.-S. Duprey, S. Frisch, C. Froitzheim, P. Gouveia e Melo, J. Gray, V. Iftinchi, B. Joosen, I. Kokkoris, F.-C. Laprévote, S. Micossi, L. Nascimento Ferreira, P. Nicolaides, V. Power, C. Quigley, N. Robins, S. Shamsi, P. Solomon, D.S. TynesTrade ReviewFor all these reasons, this monograph is definitively recommended to practitioners and academics interested in the State aid field, but also for policy analysts, political scientists and generally for students of EU law. They will benefit from an overarching work that provides not only a detailed account of the law and case law concerning the application of the State aid discipline to the financial sector, but also a rich understanding of the principles that underpin the new regulatory framework for bank resolution in the EU, and valuable hints into its likely coexistence with the State aid framework. The editors and authors of this work should thus be highly commended.'--Juan Jorge Piernas López Murcia, Common Market Law Review'The Research Handbook on State Aid in the Banking Sector provides a wonderful and extensive insight into the state aid cases in the banking sector during the Great Financial Crisis (GFC). It brings together specialists from different angles as a result of which the book combines both the financial regulatory and state aid law angle. . .'--Journal of International Banking Law and RegulationTable of ContentsContents: Foreword François-Charles Laprévote, Cleary Gottlieb Steen and Hamilton (CGSH) Part I 1. The special nature of banks and its challenges for competition policy Ioannis Kokkoris 2. Competition, stability and moral hazard: the tension between financial regulation and State aid control Joanna Gray and Francesco de Cecco 3. State aid and the financial sector: the evolution of the legal framework of State aid law Violeta Iftinchi PART II 4. State aid to banking: application of the market economy investor principle Phedon Nicolaides 5. The States’ toolkit for rescuing banks in difficulty François-Charles Laprévote and Florine Coupé 6. Compensatory measures in the banking sector Sahar Shamsi, Pantelis Solomon and Nicole Robins 7. Preserving cross-border banking in the face of the crisis: State aid policy under the financial trilemma François-Charles Laprévote and Sven Frisch PART III 8. Crisis aid to banks in Germany Sven Frisch 9. The United Kingdom Conor Quigley 10. Ireland Vincent J.G. Power 11. State aid to banks in France Claire Froitzheim 12. State aid to banks in Belgium Jean-Sébastien Duprey 13. State intervention in the banking sector of The Netherlands Bart P.M. Joosen 14. Southern Program Countries – Cyprus, Portugal, Spain Carlos Botelho Moniz, Pedro de Gouveia e Melo and Luís do Nascimento Ferreira 15. Iceland Dora Sif Tynes Part IV 16. The new regulatory framework for bank resolution Ginevra Bruzzone, Miriam Cassella and Stefano Micossi 17. Hand in hand or parallel paths? Reflections on the future coexistence of State aid control and bank resolution in the EU François-Charles Laprévote and Amélie Champsaur Index

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Book SynopsisFocusing primarily on the banking system in the United States, this book offers an innovative framework that integrates a depository bank's liquidity and its capital adequacy into a unified notion of funding that helps to explain how the 2007-2008 crisis unfolded, why central banks succeeded in resolving the crisis, and how the conceptual legacy of the crisis and its resolution led to lasting changes in bank funding regulation, including new objective requirements for bank liquidity. To provide a comparative context, the book also examines the funding models of nonbank intermediaries like dealer banks and insurers.This book provides a nuanced understanding of bank funding practices for legal academics interested in banking regulation or corporate finance and helps place prudential regulation and the private law of funding in the context of the banking business model. Business model scholars, financial academics, and bank regulators will appreciate its readable, integrated approach to understanding some of the most current and conceptually challenging aspects of prudential regulation.Trade Review'One of this book's greatest accomplishments is showing why banks still matter: they provide a useful lens for truly understanding our financial system. This book will be indispensable for anyone interested in how banks fund their operations. But it will be of equal interest to those who want to understand what led to the financial crisis of 2007-2009 and how we may go about trying to prevent or at least soften the next one.' --Manuel Utset, Florida State University'In this very readable book, Professor Gabilondo explores the heretofore unexamined issue of the challenges to bank funding in the aftermath of the 2008 financial crisis and the Dodd­-Frank Act. The book should be read by anyone involved with bank financing, including policymakers.' --Tom Hazen, University of North Carolina, School of Law'Jose Gabilondo has recognized that the distinguishing characteristic of banking is not the making of loans but rather the taking of deposits. Bank Funding, Liquidity, and Capital Adequacy comes at a time when regulators are placing increasing emphasis on the liability side of the balance sheet. Through its examination of liquidity coverage ratio requirements and the anticipated net stable funding ratio requirements, this book helps to put the importance of funding in the financial system into a meaningful perspective.' --Oliver Ireland, Morrison and FoersterTable of ContentsContents: Why Bank Funding? 2. The Wages of Intermediation 3. Other Funding Models Part II The Crisis And Its Conceptual Legacy 4. Funding Lessons From the 2007-2008 Crisis Part III Post-Crisis Funding Reform 5. Regulatory Capital 6. Regulatory Liquidity Concluding Observations Index

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Book SynopsisThe global financial crisis highlighted the corrosive effects of unethical behaviour within the banking industry. This edited collection focuses on the role that ethics, as well as the law, can play to prevent such behaviour from reoccurring. It also examines the effectiveness of newly introduced regulations and supervisory actions in fostering ethical conduct with the aim of realigning the interests of financiers with those of society as a whole. Featuring contributions from authors in academia, central banks, and professional practice, this Research Handbook presents a comprehensive assessment of law, regulation and professional and market standards in the financial industry. The chapters discuss the philosophical foundations of ethics in financial law, the existence of a social licence to operate and how to nudge banks to be more inclusive. They also critically evaluate some of the key topics in the debate, including fiduciary duties and enforcement measures. The Research Handbook will be of great interest to academics, policy makers and practitioners in financial law and banking law, as well as legal ethics. Those working within the financial industry with an interest in corporate conduct and culture, will find the Handbook to be an invaluable source of information.Trade Review'This book is a work of leadership. It offers a brilliant combination of thought and experience about the law and ethics that finance and banking cannot do without. This is about ethics and law embedded in international respect, market culture, business purpose, corporate model and personal integrity. It is about the ends that finance and banking enable us to achieve, about finance earning trust, and about finance serving society, customer, employer and colleague. It is also about insisting that complexity is either understood or reduced. Let the global financial crisis remind us that this is a book on which we must build.' --Sir Robin Knowles, High Court of England and WalesThis book is path-breaking in addressing one of the key issues of our time, the role of ethics in finance. It provides the reader with a comprehensive and challenging analysis of the main aspects of the current debate. The editors have brought together some of the sharpest minds in the field who offer an in-depth, critical and in places novel analysis of the role of law, self-regulation and standards in guiding and channelling behaviour. The book is a tour de force in considering how ethical considerations can inform the financial system. Finance must serve society in a way which is fair, just and ethical. The book is a timely reminder of this function and a call to those involved to exercise diligence in their own self-interest and for the greater good.' --Sir Ross Cranston FBA, London School of Economics, UKTable of ContentsContents: Foreword Andrew Bailey Part I The foundations of ethics in banking and finance 1. The philosophical foundations of financial ethics Kara Tan Bhala 2. Ethics and standards in financial regulation William Blair and Clara Barbiani 3. Ethical foundation of financial law Rosa M. Lastra and Marcelo J. Sheppard Part II The role played by law and standards 4. Nudging inclusive banking and micro finance towards self-sustainability Katherine Hunt, Marco Lamandini and David Ramos Muño 5. The social licence for financial markets, written standards and aspiration David Rouch 6. The Development and Implementation of Professional Standards for UK Bankers: A Practitioner Perspective Simon Thompson 7. What should we do about the law of money, finance, banks and the like? Philip R. Wood CBE, QC (Hon) 8. Rebuilding Trust in Financial Markets: beyond the Limits of Law and Regulation Mark Yallop Part III Can law counteract unethical behaviour? Some examples 9. Ethical Considerations in the Representation of Sovereign Clients Lee C. Buchheit 10. Law and Ethics: The Bank's Fiduciary Duty towards Retail Customers Ruth Plato-Shinar 11. Market timers, late traders and the ultimate insiders Basil G. Zotiades Part IV The effectiveness of regulation and supervisory actions 12. Developing the Senior Managers Regime Alan Brener 13. What makes deterrence credible? Andromachi Georgosouli 14. Breaches of AML reporting requirements by UK Bankers: Are effective enforcement choices being made by financial regulators? Miriam Goldby Part V Are financial regulators ethical? 15. Ethical Culture and Central Banking Thomas C. Baxter Jr 16. Central Banks and Ethics: the Virtual Paradox of Transparency and Confidentiality Mandates Manuel Monteagudo 17. Enforcement, ethics and transparency: problems and perspectives Costanza A Russo Index

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Book Synopsis'Already an accomplished scholar Shen Wei offers a masterly study of the Chinese shadow banking sector in context. The book constitutes a thorough analysis of the nature of the Chinese shadow banking sector and of the political events, economic rationales and institutions that have shaped it. Beyond offering expert legal analysis this book is also very rich on information and research about the institutional and economic necessities that have shaped the Chinese financial system in its present form and gave rise to a mighty shadow banking sector. The book is very well organized and competently drafted, thus, it is easily accessible to both the expert and non-expert reader. I have no doubt that this is bound to become the standard reference work for everybody wishing to study the nature of the Chinese shadow banking sector and of the institutions underpinning it in context.'- Emilios Avgouleas, University of Edinburgh, UK'Shadow Banking in China: Risk, Regulation and Policy by Professor Shen Wei is a timely book, presenting readers with a comprehensive and coherent conceptualization of shadow banking in China. It systematically defines shadow banking, describes how the different types of shadow banking subsectors -- including wealth management products, peer-to-peer lending, local government financing vehicles, and underground lending -- are growing, and examines how Chinese regulators are responding. It also explains the risk-taking, economics, and behavioral aspects of each of these subsectors, revealing the endogenous market forces driving their expansion and describing how shadow banking is innovatively helping to channel funding to the cash-starved private sector and real economy.'- from the Foreword by Steven L. Schwarcz, Duke University, School of LawIn light of the current regulatory regime in China's banking sector, this book investigates the causes, key forms, potential risks and regulation of shadow banking in China.The first China-specific book of its kind, the author takes policy considerations into account whilst providing an analysis of the regulatory instruments tackling the systematic risks in its banking as well as shadow banking sectors. Key shadow banking subsectors discussed include P2P lending, wealth management products, local government debts, and the underground lending market. This book will be of interest to students and scholars in the legal field, as well as those from other disciplines including social science, business, and finance. It will also be of use to lawyers, policymakers and regulators looking for practical solutions in tackling the issues facing a rising shadow banking sector today.Trade Review'Shadow banking is attractive to those who like the informal sector, and other alternatives to the highly regulated state. For some observers, it is frightening, and global financial crises are blamed on it. Shen Wei informs and appeals to both groups in this comprehensive and innovative book on Shadow Banking in China. I highly recommend it to anyone interested in modern China, the regulatory strategies of the modern state, or money and banking.' --Saul Levmore, University of Chicago'If one wants to understand either the past or the future of the world financial system, one must understand the nature, impact, and role of shadow banking. If one wants to understand shadow banking, one must understand what the Chinese Communist Party might call ''shadow banking with Chinese characteristics.'' This book, by a highly respected legal and economic scholar explains both.' --Frank Upham, New York University, School of Law'Shadow banking has become one of the most important areas of study in domestic and international finance. China's sector is recognised as particularly significant, not least because of its size, and potential to destabilise. This work by a leading scholar contains a detailed factual explanation of the sector, and places it in the context of China's financial and regulatory system as a whole. The book is a valuable source of information and analysis that will provide a solid basis for practitioners, regulators and academics alike.' --Sir William Blair, Justice of the Queen's Bench Division, Commercial Court, President of the Board of Appeal of the European Supervisory AuthoritiesTable of ContentsContents: Foreword 1. Decoding Shadow Banking: A Primer 2. Myth of Chinese Banks’ Success and Shadow Banking 3. Financial Regulatory Architecture: Status Quo 4. Central Bank and Monetary Policy 5. Regulating Wealth Management Products 6. The Logic (or Illogic) of Local Government Debts Out of Control 7. Optimizing the Regulation of Internet Lending: From Popularity to Risks 8. Removing Underground Lending Markets out of the Shadows 9. Credit Crunch and Liquidity Supply in China’s Banking Sector 10. Interest Rate Reform: Full or Partial Liberalization? 11. Renminbi’s Ongoing Exchange Rate Reform 12. “A Tale of Three Zones” and Financial Reforms 13. Is China’s New Deposit Insurance Scheme a Panacea? – a Functional Analysis 14. No Conclusion Yet: Bringing China’s Shadow Banking into the Light Index

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Book SynopsisThe Research Handbook on Central Banking focuses on global central banks as institutions and not abstractions, providing historical and practical detail about how central banks work and the challenges they face. This Research Handbook offers the most interdisciplinary treatment of global central banks published to date by addressing key questions regarding where they come from, how they have changed, and the challenges they face during uncertain times.Divided into two parts, the Research Handbook firstly takes readers on a global tour, covering central banks in the US, Latin America, Europe, Eastern Europe, Japan, China, Africa, and more. In the second part, authors delve into themes of broad application, including transparency, independence, unconventional monetary policy, payment systems, and crisis response. The interdisciplinary mix of contributors include some of the most prominent names in central banking as well as a new generation of scholars who are shaping the conversation about central banks and their role in global politics, economics, and society at large.Interdisciplinary and innovative, this Research Handbook will prove essential reading for scholars focusing on central banks, financial regulation, global governance, and related areas, as well as for central bankers and employees at central banks.Contributors include: C. Adam, K. Alexander, A. Berg, R. Bhala, D. Bholat, C. Borio, F. Capie, P. Conti-Brown, R. Darbyshire, F. Decker, B. Geva, C. Goodhart, A.G. Haldane, L.I. Jácome, H. James, J. Johnson, R.B. Kahn, H. Kanda, C. Kaufmann, R.M. Lastra, X. Liu, S. McCracken, E.E. Meade, S.T. Omarova, R. Portillo, M. Raskin, A.L. Riso, R. Smits, P. Tucker, F. Unsal, R.H. Weber, G. Wood, T. Yamanaka, D. Yermack, A. Zabai, Z. Zhou, C. ZilioliTrade Review'Events during the past century demonstrated the importance of price and financial stability as well as the difficulties of attaining and maintaining them. This book draws together a hugely diverse and rigorous set of analysis to capture what central banks are, have been, and might become. It should prove vital reading for academics, practitioners, and anyone with an interest in central banking.' --Mark Carney, Governor of the Bank of England'The global financial crisis and sluggish recovery has been a defining period for central banks, with the political reaction to the extraordinary steps they took often expanding their responsibilities, while at the same time threatening to constrain their degree of independence in some countries. The broad range of the analysis in this volume - over history, geography, and academic disciplines - is essential reading for anyone who wants to know how central banks got to where they are and provides a solid foundation for thinking about how central banking might evolve going forward.' --Donald Kohn, former vice chairman of the Board of Governors of the Federal Reserve System and Member of the Financial Policy Committee of the Bank of EnglandTable of ContentsContents: 1. The Central Banking Century: An Introduction to Institutional Central Banking Peter Conti-Brown 2. Central Banking and Institutional Change in the United States: Punctuated Equilibrium in the Development of Money, Finance, and Banking Peter Conti-Brown 3. The Development of the Bank of England’s objectives: evolution, instruction, or reaction? Forrest Capie and Geoffrey Wood 4. Central Banking in Japan Hideki Kanda and Toshiaki Yamanaka 5. Reserve Bank of India Raj Bhala 6. The Bank of Russia: From Central Planning to Inflation Targeting Juliet Johnson 7. Specific Challenges to the People’s Bank of China in a New Wave of Financial Reforms Zhongfei Zhou 8. An Evolutionary Theory of Central Banking and Central Banking in China Xiangmin Liu 9. New tasks and central bank independence: the Eurosystem experience Chiara Zilioli and Antonio Luca Riso 10. A central bank in times of crisis: the ECB’s developing role in the EU’s currency union René Smits 11. Monetary Policy and Central Banking in Sub-Saharan Africa Christopher Adam, Andrew Berg, Rafael Portillo and Filiz Unsal 12. The Reichsbank and the Bundesbank: The Legacy of the German Tradition of Central Banking Harold James 13. Central Banking in Australia and New Zealand: Historical Foundations and Modern Legislative Frameworks Frank Decker and Sheelagh McCracken 14. Central Banking in Latin America: Past, Present, and Challenges Ahead Luis I. Jácome H. 15. The Institutional Path of Central Bank Independence Rosa María Lastra 16. Central Bank Accounting David Bholat and Robin Darbyshire 17. International Aspects of Central Banking: Diplomacy and Coordination Robert B. Kahn and Ellen E. Meade 18. Central Bank Psychology Andrew G. Haldane 19. Banking Regulation and Supervision: A UK Perspective Kern Alexander and Rosa María Lastra 20. Unconventional monetary policies: a re-appraisal Claudio Borio and Anna Zabai 21. Central Banks and Payment System Risks: Comparative Study Benjamin Geva 22. Digital currencies, decentralized ledgers, and the future of central banking Max Raskin and David Yermack 23. Central Banks, Systemic Risk, And Financial Sector Structural Reform Saule T. Omarova 24. The Role of Macro-prudential Policy Charles Goodhart 25. Transparency of Central Banks’ Policies Christine Kaufmann and Rolf H. Weber 26. The Lender of Last Resort: Regimes for Stability and Legitimacy Paul Tucker Concluding observations Rosa María Lastra Index

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Book SynopsisIn the Research Handbook on Shadow Banking an international cast of experts discusses shadow banking activities, the purposes they serve, the risks they pose to the financial system, and the wider implications for regulators and the regulatory perimeter. Contributors offer high-level and theoretical perspectives on shadow banking and regulatory risks as well as more detailed explorations of specific markets in shadow banking.With perspectives from the United Kingdom, the European Union, the United States, China and Singapore, this Research Handbook discusses a range of wholesale sector shadow banking activities including the rehypothecation of markets, securitisation and derivatives as well as the implications of hedge fund activities for systemic risk. Further topics of discussion include a range of shadow banking activities led by financial and technological innovation, such as online equity and debt crowd-funding, the rise of exchange-traded funds, and the emergence of crypto-currencies and distributed ledger technology.Inter-disciplinary, broad and comprehensive in topic, this Research Handbook will prove to be a one-stop resource for legal academics and practitioners as well as for research students and those participating in the financial industry and trade associations.Contributors include: J.M. Amico, V. Baklanova, S. Bala, I. Chiu, J. Cullen, E. Curtin, P. de Gioia Carabellese, A. Donovan, E. Greene, P. Hanrahan, C. Hofmann, M. Hsiao, C. Johnson, M. Lin, I.G. MacNeil, H. McVea, H. Nabilou, A.M. Pacces, W. Shen, J. TanegaTrade Review'The Research Handbook brings a heavyweight group of contributors to the disparate group of financial activities called ''shadow banking''. Under the distinguished editorship of Professors Chiu and MacNeil, it provides an analysis of issues relating to financial regulation, the law, and policy making, which is both contemporary and of the highest quality.' --The Hon Sir William Blair, Queen Mary, University of London, UK'In the ten years since the financial crisis, we have seen a broad spectrum of the functions traditionally performed by banks being taken up by other players. This is one of the most fascinating fields of economics and regulation in the world of financial intermediaries. The books covers the entire spectrum of this new field, both wholesale as well as retail: a truly valuable contribution to this important topic.' --Katja Langenbucher, Goethe Universitat Frankfurt, GermanyTable of ContentsContents: The Risks and Regulatory Perimeter for Shadow Banking Iris H-Y Chiu and Iain G. MacNeil Part I Perspectives on Shadow Banking and the Regulatory Perimeter 1. The Law and Economics of Shadow Banking Hossein Nabilou and Alessio M. Pacces 2. Taking a Functional Approach to Understanding Shadow Banking: A Critical Look at Regulatory Policy Iris H-Y Chiu Part II Shadow Banking in the Wholesale Sector: Financial Innovation or Regulatory Arbitrage? 3. The Repo Market, Collateral and Systemic Risk: In Search of Regulatory Coherence Jay Cullen 4. Securitization and Structured Finance: from Shadow Banking to Legal Harmonization? Pierre de Gioia Carabellese 5. Pushing Shadow Banking into the Light: Reforming the US Tri‐Party Repo Market Christian Johnson 6. Targeting Hedge Funds and ‘Repo Runs’ Harry McVea 7. Regulating OTC Derivatives: The CCP’s Role and the EMIR Mark Hsiao 8. Shadow Banking Directive Instruments Edmond J. Curtin and Joseph Tanega Part III Shadow Banking in the Retail Sector and Issues Relating to Financial Innovation 9. Blockchain, Marketplace Lending and Crowdfunding: Emerging Issues and Opportunities in Fin Tech Edward F. Greene, Jeffrey M. Amico and Surya Bala 10. Out of the Shadow? Promises and Challenges of Peer-to-Peer Lending Mingfeng Lin 11. (Shadow) Banking on the Blockchain: Permissioned Ledgers, Interoperability and Common Standards Anna P. Donovan 12. European Money Market Fund Regulations and Universal Transparency Joseph Tanega and Viktoria Baklanova 13. Exchange Traded Funds in the Shadow Banking System Pamela F. Hanrahan Part IV Shadow Banking and Issues in Other Financial Centres 14. Understanding Shadow Banking in the Chinese Context: Shadow Banking with Chinese Characteristics Wei Shen 15. Shadow Banking in Singapore Christian Hofmann Index

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Book SynopsisThe global crises of the early 21st century have tested the international financial architecture. In seeking to ensure stability, governments have regulated financial and capital markets. This in turn has implicated international investment law, which investors have invoked as a shield against debt restructuring, bail-ins or bail-outs. This book explores whether investment law should protect against such regulatory measures, including where these have the support of multilateral institutions. It considers where the line should be drawn between legitimate regulation and undue interference with investor rights and, equally importantly, who draws it. Across the diverse chapters herein, expert international scholars assess the key challenges facing decision makers, analyze arbitral and treaty practice and evaluate ways towards a balanced system of investment protection in the financial sector. In doing so, they offer a detailed analysis of the interaction between investment protection and financial regulation in fields such as sovereign debt restructuring and bank rescue measures. Combining high-level analysis with a detailed assessment of controversial legal issues, this book will provide guidance for both academics and legal practitioners working in international economic law, international arbitration, investment law, international banking and financial law.Contributors include: A. Asteriti, P. Athanassiou, C.N. Brower, A. De Luca, A. Goetz-Charlier, A. Gourgourinis, R. Hofmann, H. Kupelyants, Y. Li, M. Mendelson, M.W. Müller, MTrade Review'This book closes a serious gap in the writings on international investment law. It explores the complex relationship between investment law and international finance, dealing with sovereign debt restructuring, bank rescues, monetary transfers and related topics. In doing so, it addresses the competing goals and divergent methodologies of the two fields and the potential tension between investment protection and broader macroeconomic concerns. A must in every library on international investment law and international finance.' --(Christoph Schreuer, University of Vienna, Austria)'The first book on the evolving panorama between the legal worlds of finances and of investment: new topics, new cases, new ideas. Timely, comprehensive, full of details embedded in the grander picture.' --(Rudolf Dolzer, University of Bonn, former Director of the Institute of International Law, Germany)'This timely book examines how investment law rubs up against the global financial architecture. The tension between state regulatory autonomy and the review of states' measures by investment tribunals is often acute. For policymakers the stakes are particularly high. The book offers an admirable and comprehensive exploration of how these two regimes with very different rationales interact.' --(Michael Waibel, University of Cambridge, UK)Table of ContentsContents: Part I Overarching Perspectives 1. International Investment Law and the Global Financial Architecture: Identifying Linkages, Mapping Interactions Christian J. Tams, Stephan W. Schill and Rainer Hofmann 2. International Investment Arbitration and the Global Financial System: Are They ‘Yin’ and ‘Yang’ or Like Oil and Water? Charles N. Brower and Alexandra Goetz-Charlier 3. International Investment Law and Financial Regulation: Towards a Deliberative Approach Matthias Goldmann Part II Sovereign Debt Restructurings 4. Police Powers of the State in Sovereign Debt Restructurings Hayk Kupelyants 5. Restructuring Sovereign Debt on the Basis of Collective Action Clauses Christoph Ohler 6. Sovereign Bond Disputes Before Investment Treaty Tribunals: Safeguarding the Exercise of Collective Action Clauses With a Single-Limb Voting Mechanism Yanying Li 7. Bilateral Investment Treaties and the Principles on Responsible Sovereign Lending and Borrowing: Working Together Towards the Provision of an International Legal Framework Addressing Sovereign Debt Issues? Marie Sudreau Part III Bank Rescue Measures 8. Bail-Ins and International Investment Law: In and Beyond Cyprus Maurice Mendelson QC and Martins Paparinskis 9. Bank Rescue Measures Under International Investment Law: What Role for the Principle Of Causation? Anna De Luca 10. BITs and Pieces: Reflections on the Relevance of BITs in Resolution-Related Litigation Phoebus Athanassiou Part IV Alternative Claims and Defences, New Actors 11. Capital-Flow Management Measures and International Investment Law – Never the Twain Shall Meet? Prabhash Ranjan 12. Crisis as Force Majeure Under International Law and Eu Law: Defending Emergency Measures, À La Européenne, In Investment Arbitration Under Intra-EU BITs Anastasios Gourgourinis 13. International Financial Institutions in Investment Law and Arbitration Michael Wolfgang Müller Index

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Book SynopsisSince the great financial crisis, many countries across the globe have witnessed the introduction of new recovery and resolution regimes for banks. The Research Handbook on Cross-Border Bank Resolution analyses the strengths and weaknesses of the current regulatory framework for resolving cross-border bank crises and proposes avenues for improvement. This cutting edge Research Handbook includes a broad range of perspectives of the regulatory and economic infrastructure of the banks themselves, third parties, and real life case studies, on both a domestic and, in particular, an international level. Chapters are authored by eminent experts in the field with contributions from the US, EU, Japan and China. With its comprehensive and rounded analysis of cross-border bank resolution, this wide-ranging Research Handbook will be of value to academics and researchers across the globe. The practical issues and policy recommendations included will also be of benefit for policy makers within the banking sector and bankers and lawyers alike.Trade Review'The editors have assembled an outstanding group of scholars to tackle the cutting-edge subject of international bank resolution.' --Jay L. Westbrook, University of Texas at Austin, USTable of ContentsContents: Introduction Part I Regulatory and economic infrastructure 1. Global solution Michael Anderson Schillig 2. Cross-border coordination of bank resolution in the EU: all problems resolved? Jens-Hinrich Binder 3. A macro approach to international bank resolution Dirk Schoenmaker Part II Bank perspective 4. Early intervention Andrew Campbell and Paula Moffatt 5. The EU bank resolution rules and national insolvency law Lynette Janssen 6. International insolvency law and EU bank resolution rules Bob Wessels 7. Corporate governance of SIFI risk-taking: an international research agenda Steven L. Schwarcz and Aleaha Jones Part III Third party perspective 8. Resolution and contracts Francisco J. Garcimatín Alférez and Sara Sánchez Fernández 9. Resolution and market infrastructures Luigi R.F. Sciusco 10. Judicial protection in cross-border bank resolution J.T. Tegelaar and M. Haentjens 11. Conflict-of-law issues Matthias Lehmann Part IV Case studies 12. Banco Espírito Santo João Cunha Marques 13. Lehman Brothers Treasury Frédéric Verhoeven 14. Cross-border bank resolution in Japan Tomoaki Hayashi and Hideki Kanda 15. An analysis of the development of cross-border crisis management in China’s bankruptcy law and regulations Armstrong Chen Part V Conclusions 16. Conclusions Matthias Haentjens, Bob Wessels and Shuai Guo Index

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Book SynopsisThis book takes an interdisciplinary approach, linking the law and policy surrounding financial markets regulation in order to fill the gap in the analysis and understanding of the most salient issues related to the role of credit rating agencies (CRAs).Key features include: A critical appraisal of the ratings information system and the potential risks of disclosure failure Questioning how regulators can shape a proper responsibility for CRAs in the aftermath of the EU civil liability regime for rating agencies introduced by the CRA Regulation 2013 and the professional liability introduced by the US Dodd-Frank Act 2010 Assessment of CRAs' liability regimes in light of the recent developments in case law Analysis of the major weaknesses in legislative reforms adopted in the United States, the United Kingdom and the European Union, and suggestions for enhancing the current regulatory system of CRAs. The Governance of Credit Rating Agencies will be a valuable resource for those researching law and economic aspects of securities markets. Professionals in law firms with banking or financial services regulation practice, global rating firms, commercial banks, investment banks, international financial institutions and prudential regulatory agencies will also find this book an essential point of reference.Trade Review'Dr Andrea Miglionico's excellent book is an essential reading for anyone that wishes to understand what went wrong with credit rating agencies in the run up to the global financial crisis and the regulatory responses that have taken place in response to the crisis. The analysis of liability issues is both original and timely given the regulatory and business implications of ratings for banks and fund managers generally.' --Rosa Maria Lastra, Queen Mary University of London, UKTable of ContentsContents: Preface PART I THE BUSINESS OF CREDIT RATING 1. The Credit Rating Industry 2. Business Model of CRAs PART II THE REGULATION OF CRAs 3. Global Regulatory Framework 4. The US Regime 5. The EU Regime 6. The UK Regime PART III LIABILITY OF CRAs 7. United Kingdom 8. United States 9. European Union 10. Australia PART IV CONCLUSIONS 11. Findings of the Research Bibliography Index

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Book SynopsisInstitutional Credit Markets provides a framework for understanding the institutional funding markets that undergird the U.S. credit system. It traces the evolution of the depository bank model, its non-bank competitors, and the financial conglomerates that span credit and capital markets.As securitization introduced structured credit products that rezoned credit markets, federal reforms let banks venture into a wider range of financial services. After the Global Financial Crisis revealed cracks in the system, lawmakers affirmed pre-crisis products and business models while adding some guardrails. The post-crisis scheme subjected large financial conglomerates to enhanced supervision while adjusting the structure of banks by making them more liquid and stable. Through its stabilization activities, the Federal Reserve has morphed from bank regulator to arbiter of financial market structure, now using a more statist approach to monetary policy that relies to a greater extent on administered interest rates rather than those set by the market forces. This book explains post-crisis regulation in terms of its capitulation to financial capitalism.Financial law regulators and academics will benefit from this integrated account that considers banking, structured finance, capital markets, and money markets as parts of an institutional funding ecosystem. This book will also provide a more nuanced understanding of financial institutions and markets for financial law practitioners, sector analysts and journalists.Trade Review‘Gabilondo’s book gives a unique overview of multiple credit markets, providing an informed and clear exploration of the multiple institutional funding markets. For those who focus in one area – such as banking – Gabilondo connects the dots to provide insight into several of the other sources of funding. A must read for anyone trying to understand the full scope of credit and how the markets have morphed in response to the Great Financial Crisis.’ -- Lissa L. Broome, University of North Carolina, USTable of ContentsContents: 1. First things PART I THE MARKETS 2. The depository bank 3. The Federal Reserve 4. Securities 5. Bonds PART II LINKS AND GAPS 6. Nonbank bridges 7. Structured credit 8. A new home for the bank 9. Learning from crisis PART III POST-CRISIS ARRANGEMENTS 10. The great capitulation 11. Bank financial structure 12. Financializing the central bank Index

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Book SynopsisThe European Banking Union and the Role of Law offers a comprehensive and unique examination of the European Banking Union's (EBU) impact on existing legal disciplines and assesses the role of law in shaping the EBU framework.With expert contributions from academics, practitioners and EU officials, this thought-provoking book provides different perspectives on the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). Evaluating and proposing original interpretations on the EBU at a key stage of its development in the European Union, this book assesses topical issues relating to the institutional and administrative rules of the EBU, the interpretation and application of banking law, supervision and resolution frameworks, judicial rules and protection in the EBU. The book is structured into three parts: a general overview of the EBU framework and specific reflections on both the SSM and the SRM. The contributions show that the EBU is a successful European integration project, yet challenges still lie ahead. This topical and engaging book will be an important resource for practitioners, and public servants in the financial sector. Academics and students of financial law and European law will also find this book a valuable read.Contributors include: K. Alexander, G. Barrett, M.P. Chiti, A. de Gregorio Merino, D. Fromage, P. Fucile, S. Gleeson, R. Ibrido, G. Lo Schiavo, A. Miglionico, C.A. Petit, P. Schammo, M. Schillig, R. Smits, N. XanthoulisTrade Review'This is a timely collection of valuable insights into the legal basis and the functioning of the European Banking Union. Academic scholars, students and practitioners will benefit from a wide range of stimulating chapters covering all relevant aspects of the emerging practice - as well as areas for future reform.' --Jens-Hinrich Binder, Eberhard Karls University of Tübingen, GermanyTable of ContentsContents: Introduction Part I The European Banking Union – general framework 1. The relationship between the Banking Union and the Economic and Monetary Union: A re-telling of Cinderella with an uncertain happy ever after? Gavin Barrett 2. Banking Union in EU law: an EU institutional law perspective Alberto de Gregorio Merino 3. The European Banking Union and EU Administrative Law Mario P. Chiti 4. Accountability and Democratic Oversight in the European Banking Union Diane Fromage and Renato Ibrido 5. Banking Union and Brexit: the challenge of geography Pierre Schammo Part II The Single Supervisory Mechanism 6. The SSM and the ECB decision-making governance Christy Ann Petit 7. Reflections on euro area banking supervision: context, transparency and culture from an institutional law perspective René Smits 8. The ECB’s Macroprudential Tasks and Home-Host Supervision in the SSM: tasks, powers and supervisory gaps Kern Alexander 9. The ECB and its application of national law in the SSM Gianni Lo Schiavo 10. The SSM and the prudential regime of non-performing loans Andrea Miglionico Part III The Single Resolution Mechanism 11. The Single Resolution Mechanism and the EU crisis management tools Simon Gleeson 12. BRRD/SRM, Corporate Insolvency Law and EU State Aid Law – The Trifurcated EU Framework for Dealing with Banks in Distress Michael Schillig 13. Resolution framework and the protection of fundamental rights Paolo Fucile 14. Single Resolution Fund and Emergency Liquidity Assistance: Status quo and reform perspectives on emergency financial support in the banking union Napoleon Xanthoulis Index

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Book SynopsisThis is the first book to offer a profound, practical analysis of the framework for the judicial and pre-judicial protection of rights under the supranational banking supervision and resolution powers in the European Banking Union (EBU). It is also unique in its in-depth commentary on the developing case law from the European Court of Justice in this new field of EU litigation.Key features include: clarity on the procedural requirements for judicial review a comprehensive commentary on the existing case law of EU courts in the field insight and analysis from front-line practitioners, as well as expert scholars a detailed and up-to-date examination of banking supervision and resolution in the EBU discussion of the development of EBU law as a crucial area of EU law and its integration into the EU’s legal order. This book is a must-read for practitioners in the field of banking law and regulation. In particular it will be the authoritative reference point for those working in European and national public institutions such as supervisory and resolution authorities, courts, central banks and ministries of finance, as well as those working in or advising private organisations concerned with the exercise of supervisory and resolution powers. The book will also be of significant interest to scholars and postgraduate students of EU financial and banking law and governance.Trade Review‘With this edited volume, Zilioli and Wojcik, two esteemed experts in the area, present a very comprehensive, but tightly focused analysis of judicial and pre-judicial review mechanisms in the EU for the financial sector. By assembling a very useful set of tools for everyone involved in this field, the volume provides an essential support for further developing the new branch of litigation as a part of supranational administrative law.’ -- Cornelia Manger-Nestler, Common Market Law Review‘The book covers an evolving topic that becomes more relevant each day as the European Economic and Monetary Union (EMU) is deepened and is therefore a good addition to any law library.’ -- Jenny Gesley, International Journal of Legal Information‘The European banking union has led to the creation of a unique legal framework in which national and European authorities and rules governing banking supervision and resolution procedures are intertwined. This brings about many challenging and interesting questions with regard to judicial protection of banks, shareholders and other stakeholders that are currently emerging into a whole new branch of litigation before the European courts. This book gathers contributions by highly recognized practitioners and researchers that have closely followed the developments from the very beginning and gives a comprehensive and problem-oriented overview of current questions as well as possible future developments. It is therefore a highly useful tool for everyone working in this field.’Table of ContentsContents: Foreword by Lady Mary Arden xxiii 1. European Banking Union: a giant step towards European integration and a challenge for judicial review 1 Chiara Zilioli and Karl-Philipp Wojcik PART I COMMON ASPECTS OF JUDICIAL REVIEW IN THE BANKING UNION 2. Democratic accountability within the framework of the SSM and the SRM as a complement to judicial review 17 Édouard Fernandez-Bollo 3. Administrative pre-litigation review mechanism in the SSM: The Administrative Board of Review 28 Eleni Koupepidou 4. Administrative pre-litigation review mechanism in the Single Resolution Mechanism (SRM): The SRM Appeal Panel 44 Marco Lamandini and David Ramos Muñoz 5. Private law in Banking Union litigation 59 Matthias Haentjens 6. Jurisdiction, locus standi and the circulation of judgments in the Banking Union 77 Matthias Lehmann 7. Composite procedures in the SSM and SRM – an analytical overview 97 Filipe Brito Bastos 8. Procedural and judicial implications of composite procedures in the Banking Union 114 Vittorio Di Bucci 9. The judicial review of discretion in the Banking Union: from ‘soft’ to ‘hard(er)’ look? 130 Michael Ioannidis 10. Procedural law requirements for conducting administrative procedures by the ECB and the SRB 146 Klaus Lackhoff 11. Confidentiality and access to documents in the Banking Union 165 Daniel Sarmiento 12. Interim relief 194 Emilie Yoo 13. Banking Union and the Charter of Fundamental Rights 209 Niamh Moloney 14. The liability of authorities in supervisory and resolution activities 221 Martina Almhofer PART II SPECIFIC ASPECTS OF JUDICIAL REVIEW WITHIN THE SSM PILLAR OF THE BANKING UNION 15. The application of national law by the ECB, including options and discretions, and its impact on the judicial review 236 Andreas Witte 16. Banking authorisations and the acquisition of qualifying holdings as unitary and composed procedures and their judicial review 251 Giorgio Buono 17. The investigatory powers, including on-site inspections, of the ECB, and their judicial control 285 Daniel Segoin 18. The legal review of ECB instructions under Article 9 SSM Regulation 304 Carmen Hernández Saseta 19. The legal review of SSM administrative sanctions 316 Raffaele D’Ambrosio 20. The ECB’s regulatory powers, their scope and their judicial review 333 Alberto de Gregorio Merino 21. Close cooperation and aspects of judicial review 345 Agnese Pizzolla PART III SPECIFIC ASPECTS OF JUDICIAL REVIEW WITHIN THE SRM PILLAR OF THE BANKING UNION 22. Resolving a bank – judicial review with regard to the exercise of resolution powers 367 Jens-Hinrich Binder 23. Judicial control of resolution planning measures 395 Seraina Grünewald 24. The procedure to exercise investigatory powers, including on-site inspections, by the SRB and their judicial control 416 Jakub Kerlin 25. The judicial review of fines and penalty payments set by the SRB 429 Leo Flynn 26. Judicial review of the SRB’s contributions and fees decisions 443 Myrte Meijer Timmerman Thijssen 27. Judicial control of the interface between the ECB and the SRB in the SRM 461 Anna Gardella 28. State aid and bank resolution law before the Court 473 Kathrin Blanck PART IV CASE NOTES OF THE FIRST BANKING UNION CASES IN THE GENERAL COURT AND IN THE ECJ 29. A Prime for the SSM before the Court: the L-Bank case 494 Antonio Luca Riso 30. The Crédit Mutuel Ark.a case: central bodies and the SSM, and the interpretation of national law by the ECJ 504 Francesco Martucci 31. The Crédit Agricole cases: banking corporate governance and application of national law by the ECB 510 Christos V. Gortsos 32. The Trasta Komercbanka cases: withdrawals of banking licenses and locus standi 521 Giorgia Marafioti 33. Silvio Berlusconi and William of Ockham: Entia non sunt multiplicanda sine necessitate – Case C-219/17 530 Giovanni Bassani 34. The VQ case T-203/18: administrative penalties by the ECB under judicial scrutiny 542 Laura Wissink 35. Overview on the litigation on the ‘ex ante contributions’ to the SRF: the strict standard of review adopted by the Court to ensure effective legal protection 551 Concetta Brescia Morra and Federico Della Negra 36. Public interest for resolution action in the light of the ABLV cases 564 Audronė Steiblytė 37. The VTB case: administrative penalties and administrative measures 571 Jeanne Poscia Index 579

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Book SynopsisThis comprehensive Commentary provides article-by-article exploration of EU Regulation 655/2014, analysing and outlining in a straightforward manner the steps that lawyers, businesses and banks can take when involved in debt recovery. It offers a detailed discussion of national practice and legislation in order to provide context and a deeper understanding of the complex difficulties surrounding the procedural system created by the European Account Preservation Order (EAPO) Regulation.Aiming to offer a practical and comprehensive overview of the EAPO Regulation, this book highlights its strengths and potential to increase the efficiency of cross-border debt recovery within the European judicial area. D’Alessandro and Gascón Inchausti examine the descriptive and analytical literature focusing on the EAPO Regulation, while also considering available reports and national case law databases. The book also takes into account the interplay between the EAPO Regulation and the other instruments of the European Law of Civil Procedure, and provides analysis of the case law of the Court of Justice of the European Union and national courts.Key Features: Article-by-article commentary and analysis Practical direction in the field of cross-border debt recovery Detailed discussion of national practice within the EU A contextual approach Offering a clear and direct way to address the issues and solutions surrounding EAPO Regulation, this comprehensive book will be an ideal companion for legal practitioners specializing in debt recovery as well as students interested in European law and finance.Trade Review‘Getting judgments may often seem the easy part; enforcing them is the main event. In the EU, this enforcement effort can be complicated by diverging practices in EU member states. The recent adoption of an EU-wide procedure offers positive results, and the fact some 55 billion Euros in judgments go unpaid each year proves the need for something like this. This book, by leading academics, introduces and explains the new procedure. It should be of great use to every judgment holder in every EU member state.’ -- Richard Marcus, University of California College of the Law, San Francisco, USTable of ContentsContents: Preface xxii General introduction 1 Elena D’Alessandro and Fernando Gascón Inchausti PART I SUBJECT MATTER, SCOPE AND DEFINITIONS 1 Subject matter 7 Marcin Walasik 2 Scope 17 Marcin Walasik 3 Cross-border cases 35 Marcin Walasik 4 Definitions 49 Mar.a Luisa Villamarín López PART II PROCEDURE FOR OBTAINING A PRESERVATION ORDER 5 Availability 63 Elisabetta Silvestri 6 Jurisdiction 69 Pietro Franzina 7 Conditions for issuing a preservation order 80 Elisabetta Silvestri 8 Application for a Preservation Order 84 Katharina Lugani 9 Taking of evidence 96 Elisabetta Silvestri 10 Initiation of proceedings on the substance of the matter 100 Fernando Gascón Inchausti 11 Ex parte procedure 112 Fernando Gascón Inchausti 12 Security to be provided by the creditor 118 Pilar Peiteado Mariscal 13 Liability of the creditor 130 Pietro Franzina and Caterina Benini 14 Request for the obtaining of account information 144 Carlos Santaló Goris 15 Interest and costs 159 Guillaume Payan 16 Parallel applications 164 Pilar Peiteado Mariscal 17 Decision on the application for the preservation order 175 Guillaume Payan 18 Time-limits for the decision on the application for a preservation order 185 Guillaume Payan 19 Form and content of the Preservation Order 193 Guillermo Schumann Barragán 20 Duration of the preservation 200 Guillermo Schumann Barragán 21 Appeal against a refusal to issue the Preservation Order 206 Enrique Vallines García PART III RECOGNITION, ENFORCEABILITY AND ENFORCEMENT OF THE PRESERVATION ORDER 22 Recognition and enforceability 218 Elena D’Alessandro 23 Enforcement of the Preservation Order 224 Elena D’Alessandro 24 Implementation of the Preservation Order 230 Elena Alina Onţanu 25 Declaration concerning the preservation funds 245 Katharina Lugani 26 Liability of the bank 251 Pietro Franzina and Caterina Benini 27 Duty of the creditor to request the release of over-preserved amounts 257 Elena Alina Onţanu 28 Service on the debtor 265 Fernando Gascón Inchausti 29 Transmission of documents 274 Guillermo Schumann Barragán 30 Preservation of joint and nominee accounts 279 María Luisa Villamarín López 31 Amounts exempt from preservation 286 María Luisa Villamarín López 32 Ranking of the Preservation Order 293 María Luisa Villamarín López PART IV REMEDIES 33 Remedies of the debtor against the Preservation Order 299 María Luisa Villamarín López 34 Remedies of the debtor against enforcement of the Preservation Order 308 María Luisa Villamarín López 35 Other Remedies Available to the Debtor and the Creditor 316 Katharina Lugani 36 Procedure for the remedies pursuant to Articles 33, 34 and 35 319 Silvana Dalla Bontà 37 Right to appeal 331 Silvana Dalla Bontà 38 Right to provide security in lieu of preservation 339 Carlos Santaló Goris 39 Right of third parties 345 Elena D’Alessandro PART V GENERAL PROVISIONS 40 Legalization or other similar formality 353 Martina Mantovani 41 Legal representation 361 Guillaume Payan 42 Court fees 367 Guillermo Schumann Barragán 43 Costs incurred by the banks 371 Carlos Santaló Goris 44 Fees charged by authorities 376 Guillermo Schumann Barragán 45 Time frames 379 Guillermo Schumann Barragán 46 Relationship with national procedural law 383 Elena D’Alessandro 47 Data protection 386 Martina Mantovani 48 Relationship with other instruments 398 Guillermo Schumann Barragán 49 Languages 405 Carlos Santaló Goris 50 Information to be provided by Member States 414 51 Establishment and subsequent amendment of the forms 416 52 Committee procedure 417 53 Monitoring and review 418 54 Entry into force 420 Pilar Peiteado Mariscal Annex I 423 References 433

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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

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Book SynopsisThis incisive book is an accessible guide to the laws and policies relating to economic and monetary union (EMU). Providing a rich, multidisciplinary analysis, it combines historical, legal and economic perspectives to offer a detailed understanding of how EMU has developed since its inception and how it works in practice today.Alberto Saravalle begins with an overview of the history of EMU, alongside a theoretical analysis of its regulatory framework and development. He then discusses the events of the European sovereign debt crisis, examining the measures taken by EU institutions such as the European Central Bank, as well as the responses of the Member States and the impact of economic policies they adopted as a result. Finally, he analyses recent proposed reforms to EMU and its possible future evolution, including a discussion of the effects of the Covid-19 pandemic on Member States' willingness to participate in further reform and integration.This book will be a valuable reference for those teaching and studying advanced courses on EU law, as well as courses that cover the economic history of EU integration. It will also be useful to practitioners, government officials and policy-makers wishing to familiarise themselves with the complex functioning of EMU.Trade Review'I learned a lot reading this very comprehensive book. I highly recommend it to anyone wanting to (better) understand the complex legal order on which EMU is based.' -- André Sapir, Université Libre de Bruxelles, BelgiumTable of ContentsContents: Introduction 1. Economic and monetary union 2. The Stability and Growth Pact and the other rules of fiscal surveillance 3. The Fiscal Compact 4. Financial assistance and crisis resolution mechanisms 5. The ECB’s non-standard measures 6. The sovereign debt crisis 7. The Italian predicament 8. Austerity policies before national and EU courts 9. Eurexit 10. Reform projects 11. The impact of the Covid-19 outbreak Index

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Book SynopsisIn this thoroughly revised third edition of what has become the standard work on information exchange in tax matters, Xavier Oberson provides an authoritative overview of the instruments and models used to exchange information on an international level. Addressing the latest developments in the movement towards increased global transparency in tax matters, this updated edition also includes new rules of information exchanges and reporting on digital platforms, crypto assets and crypto currencies.Key Features: Analysis of the OECD Common Reporting Standard of automatic exchange of information Discussion on a range of international instruments and models including: double taxation treaties, TIEAs, the OECD multinational convention, European Directives, FATCA and the Swiss Rubik model Examination of the new rules for information reporting to digital platforms and new reporting obligations for crypto-assets and e-money of the OECD Base Erosion and Profit Shifting (BEPS) Programme Lawyers, tax specialists and professionals in banking and finance looking to further their knowledge and gain insights into new developments in digital platforms and crypto currencies will find this book to be an invaluable reference. Students and academics in law, tax and economics will appreciate the clear overview and find this an essential resource.Trade Review‘Oberson’s book clearly describes all the legal instruments governing exchange of information. It offers a historical perspective on administrative cooperation and delves into both technological developments and public policy issues. A must-have for any international tax lawyer wishing to understand the tax challenges of a globalized economy and legal system.’ -- Daniel Gutmann, Sorbonne Law School, CMS Francis Lefebvre, France‘Oberson’s book has become the indispensable volume on exchange of information for practitioners, tax policy makers, and academics. The book cogently describes the recent evolution of exchange of information and the dramatic changes that ensued from the enactment of FATCA and the adoption of the Common Reporting Standard for automatic exchange of information. The new edition addresses important cutting edge topics like crypto assets. It also raises the increasingly crucial question of how to balance tax collection with taxpayer rights. This book is an outstanding contribution to knowledge and a crucial guide for future action.’ -- Reuven Aviyonah, University of Michigan Law School, US‘With his Third Edition of International Exchange of Information in Tax Matters; Towards Global Transparency, Xavier Oberson continues his master class on this intricate and important subject, with comprehensive coverage, exhaustive research, and cogent commentary that will be required reading for years to come.’ -- David Rosenbloom, Caplin & Drysdale, Washington DC, US‘Professor Oberson’s new edition of his book on international exchange of information in tax matters provides an insightful and detailed analysis of one of the key recent developments in international taxation. As such, it definitively is a “must read” for tax students and international tax practitioners alike.’ -- Shelby du Pasquier, Lenz & Staehelin, SwitzerlandTable of ContentsContents: 1. Introduction to International Exchange of Information in Tax Matters 2. Historical development of international exchange of information rules 3. Exchange of information under Double Taxation Conventions 4. A practical example: administrative assistance and exchange of information between the United States and Switzerland 5. Assistance in the collection of taxes under DTC 6. Tax Information Exchange Agreements (TIEAs) 7. The OECD Convention on Mutual Administrative Assistance in Tax Matters (CMAAT) 8. The EU Directives 9. The so-called Swiss ‘Rubik’ agreements 10. The Foreign Account Tax Compliance Act (FATCA) 11. Towards automatic exchange of information 12. Automatic exchange of information (AEOI): the OECD Common Reporting Standard 13. Solving the past 14. The impact of the OECD Base Erosion Profit Shifting (BEPS) Programme 15. Exchange of information on digital platforms 16. Exchange of information on crypto-assets and crypto-currencies 17. Legal protection of the taxpayer 18. Conclusion to International Exchange of Information in Tax Matters General bibliography Index

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Book SynopsisThis comprehensive and essential Commentary examines both the origins and effect of the EU’s 2015 Payment Services Directive (PSD2). Addressing a significant gap in the available literature, the book is divided into two parts: Part I analyses the legislative provisions of the Directive, while Part II explores the PSD2 implementation experience in selected EU Member States as well as in the United Kingdom.Table of ContentsContents: Foreword: Introduction to the PSD2 Commentary xxvi Acknowledgements xxviii PART I 1 Introduction to The Payment Services Directive II: A Commentary 2 Gabriella Gimigliano and Marta Božina Beroš 2 Title I: ‘Subject matter, scope and definitions’ (Art. 1–Art. 4): The regulated field (object and subject) 5 Benjamin Geva 3 Title II, Chapter 1, ‘Payment institutions’ (Arts 5–21) 31 Ciro G. Corvese 4 Title II, Chapter 1, Section 3–4, ‘Competent authorities and supervision’ (Arts 22–30), ‘Exemptions’ (Arts 31–34) 66 Marta Božina Beroš 5 Title II, Chapter 2, ‘Common Provisions’ (Arts 35–37) 86 Nikita Divissenko and Gabriella Gimigliano 6 Title III, Chapters 1, 2, 3 (Arts 38–58) 103 Gabriella Gimigliano 7 Title III, Chapter 4 (Arts 59–60) 122 Noah Vardi 8 Title III, Chapter 1 (Arts 61–63) 133 Gabriella Gimigliano 9 Title III, Chapter 2, ‘Authorisation of payment transactions’ (Arts 64–77) 146 Gabriella Gimigliano 10 Title IV, Chapter 3, ‘Rights and obligations in relation to the provision and use of payment services: execution of payment transactions’ (Arts 78–93) 163 Benjamin Geva Nikita Divissenko 12 Title IV, Chapter 5, ‘Operational and security risks and authentication’ (Arts 95–98) 190 Ruth Wandh.fer 13 Title IV, Chapter 6, ‘ADR procedures for the settlement of disputes’ (Arts 99–103) 210 Arno R. Lodder 14 Title IV, ‘Delegated acts and regulatory technical standards’ (Arts 104–106) 223 Martin Miernicki 15 Title VI, ‘Final provisions’ (Arts 107–117) 232 Gabriella Gimigliano PART II 16 Implementation of the PSD2 in Austria 246 Martin Miernicki 17 Transposition of the PSD2 into Croatian national legislation 265 Ivana Parać Vukomanović 18 Transposition of PSD2 into Czech law 283 Petr Kot.b, Jiř. Moravec and Jan Škrabka 19 PSD2 implementation in Estonia 305 Nikita Divissenko 20 Implementation of the PSD2 in Finland: a Nordic view on payment services regulation 319 Jyri Ter.maa 21 The transposition of the PSD2 into French law 338 Evelina Gratianu and Myriam Roussille 22 Transposition of PSD2 into German law with special consideration of the regulatory and civil law changes 357 Christian Conreder 23 The transposition of the PSD2 in Italy: policies and rules 387 Costanza Iacomini and Simone Mezzacapo 24 Spain’s implementation of PSD2 408 Fernando Zunzunegui 25 PSD2, Brexit and the financial regulation of payment systems in the UK 426 Daniele D’Alvia, Katrien Morbee and Rodrigo Olivares Caminal Appendix 445 Index

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Book SynopsisMax Hall offers a thoroughly revised and updated edition of his classic handbook on the evolution and structure of UK banking supervision. He examines the major developments at the national and international level which have transformed the conduct of banking supervision in this country. New issues explored in depth include: the collapse of BCCI the collapse of Barings and its impact on domestic policy the Arthur Andersen review the creation of the Financial Services Authority reforms of the famous Basle Concordat and capital accord implementation of the European Commission's Single Market programme for financial services This book will prove indispensable to those concerned with the evolution and conduct of domestic supervisory policy in the area of banking.Trade Review'This new edition of the Handbook of Banking Regulation and Supervision in the United Kingdom is a timely and welcome addition to the literature. Its review of the major events in the history of supervision provide a context for our current system and its clear explanation of how banking supervisors currently go about their work is valuable to anybody with an interest in financial supervision.' -- From the foreword by Howard Davies, The Financial Services Authority, UKTable of ContentsContents: Preface Part I: The Evolution of Supervisory Practice 1. Regulation and Supervision in the Early Post-war Years (1945–73) 2. The UK ‘Secondary Banking Crisis’ (1973–75) 3. The Basle Concordat 4. Supervision under the Banking Act 1979 5. The Johnson Matthey Bankers Affair and its Aftermath 6. Reforms Instituted under the Banking Act 1987 7. International Harmonization of Banking Supervision 8. Implications of the Financial Services Act 1986 9. Requirements Arising from Membership of the European Community 10. The British and Commonwealth Bank Affair 11. The Bank of Credit and Commerce International Affair 12. The Barings Affair Part II: The Structure of UK Banking Supervision 13. An Overview of the Bank’s Supervisory Approach 14. The Role of Auditors and Reporting Accountants in the Supervisory Process 15. Relationships Between the Bank and other Supervisory Bodies 16. Authorization Procedures under the Banking Act 1987 17. The Assessment of Capital Adequacy 18. The Assessment of Liquidity Adequacy 19. The Treatment of Foreign Currency Operations 20. The Treatment of Large Exposures 21. The Assessment of the Adequacy of Provisions 22. The Assessment of Country Risk 23. Ownership Rules 24. Deposit Protection Arrangements 25. The Supervision of Banking Groups/Financial Conglomerates 26. Miscellaneous Index

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Book SynopsisDer Autor befasst sich in seiner Arbeit mit den jüngsten gesetzlichen Entwicklungen im Geldwäscherecht. Aufbauend auf den gesetzlichen und kriminologischen Grundlagen dieses sich im ständigen Wandel befindlichen Rechtsgebiets werden die Entwicklung des Geldwäscherechts in Deutschland nachgezeichnet und die im Rahmen der Umsetzung der Dritten EG-Geldwäscherichtlinie durch das Geldwäschebekämpfungsergänzungsgesetz (GwBekErgG) erfolgten Neuerungen vorgestellt und diskutiert. Die Arbeit konzentriert sich hierbei auf die Auswirkungen der Novellierung auf Kreditinstitute.

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Book SynopsisThe volume contains articles based on presentations given at a conference hosted by the Institute for Law and Finance of Goethe University on October 27, 2011. Collective action clauses are an example of the typical dichotomy of financial regulation: While the problems are economic in nature, the solutions need to be implemented by law. The Institute for Law and Finance strives to bring together law and finance in order to foster a better mutual understanding of both disciplines and to improve the regulation of financial markets. Thus, the organizers are particularly pleased that eminent experts from the fields of law and finance agreed to participate in the event and to share their views on and experiences with collective action clauses. The presentations given at the conference have been updated in 2012 to reflect recent developments.

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Book SynopsisDie Strafverfolgung erfolgt im Interesse der Öffentlichkeit, wobei diese mittlerweile durch das Gemeinwohl repräsentiert wird. Der Tagungsband beschäftigt sich mit diesem Begriff speziell im Wirtschaftsstrafrecht. Die Beiträge verorten den politisch-gesellschaftlichen Rahmen und klären ökonomische, europa- und verfassungsrechtliche Fragen. Beleuchtet werden das Gemeinwohl im materiellen Recht und der Gemeinwohlbezug einzelner Wirtschaftsdelikte.

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Book SynopsisThe volume is a collection of articles based on presentations given at a conference titled “The Crisis Management Directive – Europe’s Answer for Too Big to Fail?” hosted by the Institute for Law and Finance on May 3, 2012.

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