Financial law: general Books

Book Synopsis

Read more less

Book Synopsis

Read more less

Book Synopsis

Read more less

Book Synopsis

Read more less

Book Synopsis

Read more less

Book Synopsis

Read more less

Book SynopsisDieser "mittlere Kommentar" zum HGB knüpft in 2. Auflage an den bewährten Heymann'schen Kommentar zum Handelsgesetzbuch an. Das Konzept der 1. Auflage, für jedes der vier Bücher des HGB einen handlichen Band mit eigenem Register vorzusehen, hat sich bewährt: dem Praktiker des Handelsrechts ein zuverlässiges, praxisnahes, benutzerfreundliches und wissenschaftlich fundiertes Erläuterungswerk zu bieten. Klare Stoffgliederungen mit vorangestellten Übersichten, gute Lesbarkeit, Randnummern, Fußnoten und ausführliche Literaturnachweise knüpfen an die Vorzüge der Vorauflage an und sollen dafür sorgen, für Praxis und Wissenschaft ein bewährtes Arbeitsmittel auf dem neuesten Stand zu bieten. Das Werk wurde gründlich aktualisiert, Gesetzgebung, Rechtsprechung und Literatur seit Erscheinen der Vorauflage sind eingearbeitet.

Read more less

Book Synopsis

Read more less

Book Synopsis

Read more less

Book SynopsisAhmad Alkhamees defines Creative Shari‘ah compliance as compliance with the letter but not the objectives of Shari‘ah. In recent years, Islamic finance industry practises have come under scrutiny, with strong critiques levelled against many institutions that claim to provide Shari‘ah-compliant products and services, which in fact undermine the spirit and the objectives of Shari‘ah. This book significantly contributes to the sphere of Islamic finance in three main ways. First, it critically appraises justifications of creative Shari‘ah compliance practises. Second, it examines how Shari‘ah supervisory board (SSB) governance practises, and the inconsistent fatwas issued by SSBs, contribute to the issue of creative Shari‘ah compliance. Most importantly, it suggests regulatory mechanisms which regulators can employ in Islamic countries such as Saudi Arabia and in secular countries such as the United Kingdom to deal with the issue of creative Shari‘ah compliance.Table of ContentsAcknowledgements Brill’s Simple Arabic Transliteration System Glossary of Arabic Terms Table of Cases List of Statutes List of Figures and Tables Abbreviations Introduction 1 An Overview of Shariʿah  1.1 Introduction  1.2 Overview of Shariʿah and Its Foundation  1.3 Schools of Thought  1.4 Islamic Legal Ruling  1.5 Main Features of Islamic Finance  1.6 Shariʿah-Compliant Financial Instruments  1.7 The Objectives of Islamic Law  1.8 Conclusion 2 The Form Versus Substance Debate and the Roots of Creative Shariʿah Compliance in Islamic Finance: Why Reinvent the Wheel?  2.1 Introduction  2.2 The Definition of Ḥīlah  2.3 The Origins and the Evolution of Ḥīlah  2.4 Positions on Ḥīlah of Islamic Schools of Thought  2.5 Refuting the Pro-Ḥīlah Arguments  2.6 Conclusion 3 Tawarruq as a Case Study of Creative Shariʿah Compliance  3.1 Introduction  3.2 Definition of Tawarruq and Selection Rationale  3.3 The Development of Tawarruq  3.4 The Differences between Jurisprudential and Organised Tawarruq  3.5 Forms of Tawarruq  3.6 Shariʿah Jurists’ Views on Tawarruq  3.7 Conclusion 4 Standardisation of Fatwās to Reduce Creative Shariʿah Compliance  4.1 Introduction  4.2 Standardisation: A Definition  4.3 Why Is Standardisation Needed?  4.4 Causes of Juristic Differences  4.5 Remedies for Inconsistency  4.6 Conclusion 5 The Impact of Shariʿah Governance Practises on Shariʿah Compliance in Contemporary Islamic Finance  5.1 Introduction  5.2 Shariʿah Supervisory Board Definition  5.3 The Importance of SSBs  5.4 Regulatory Issues Surrounding Shariʿah Supervisory Boards  5.5 Conclusion 6 Public Mechanisms to Remedy Creative Shariʿah Compliance  6.1 Introduction  6.2 Overview and Justification of CSSBs  6.3 Tasks of CSSBs  6.4 The Central Shariʿah Board in Sudan  6.5 The Central Shariʿah Board in Malaysia  6.6 UK Regulators’ Approach towards Shariʿah Governance  6.7 Saudi Regulators’ Approach towards Shariʿah Governance  6.8 Compulsory Disclosure  6.9 Conclusion 7 Private Mechanisms to Remedy Creative Shariʿah Compliance  7.1 Introduction  7.2 Shariʿah Compliance Rating  7.3 Shariʿah Indices  7.4 Private External Shariʿah Auditing Firms  7.5 International Islamic Financial Standards  7.6 Whistle Blowing  7.7 Characterising the Articles of Association  7.8 Conclusion Conclusion Bibliography

Read more less

Book SynopsisIn FX Law and Regulations in Korea: Problems and Prospects, Min-woo Kang offers a comprehensive and thorough discussion of the FX regulatory system in Korea, with a special focus on its chronic problems and possible remedies under the overhauled legal system. The author has provided technical analysis on each provision of the complex Korean law, which is commonly accepted as too convoluted, even for legal professionals. Fully utilising a host of legal materials as well as documents in the relevant economic theory, Min-woo Kang convincingly provides the rationale for FX regulation and a robust argument for amending the current Korean law in a significant way. This piece sheds a light on the path Korean lawmakers and regulatory authorities will take. Academics and practitioners interested in the Korean FX law will find this a good reference.Table of ContentsContents FX Law and Regulations in Korea: Problems and Prospects  Min-woo Kang Abstract 1 Keywords    1 Introduction  2 Theoretical Underpinnings of FX Regulations  3 Current Landscape of the Korean FX Law and Regulations  4 Central Problems in the Korean FX Regulatory System: A Critical Review and Analysis  5 Proposals for Amendment of the Legal System  6 Conclusion  Bibliography

Read more less

Book Synopsis

Read more less

Book SynopsisThere has been an enormous growth in financial law in the Netherlands, theEuropean Union and more globally in recent years. Not only national but alsosupranational regulators are involved in enacting laws and issuing policy guidelinesin the field of financial law as a result of which financial law in theNetherlands has become international in scope and application and therefore relevantto an increasing number of international participants. In order to master thisexpanded financial law, the idea came up to publish a book written in the Englishlanguage which deals with the most important Dutch financial law issues. Thisbook endeavours to provide a practical, but nevertheless thorough survey of Dutchfinancial law. Through this publication it is hoped that Dutch financial law willbecome accessible to both Dutch and foreign law students, legal counsels, lawyersand others who are seeking an understanding of the content of financial law in theNetherlands.

Read more less

Book SynopsisOn 1 January 2016 the Single Resolution Mechanism (SRM) became fully operational. The SRM creates a framework for the uniform resolution of banks in the euro area and after the Single Supervisory Mechanism (SSM), it is the second pillar of the European Banking Union. Whereas the SSM aims to reduce the risk of bank failure by unifying the supervision of banks, the SRM’s aim is to increase the likelihood that a bank has been made “safe to fail”, if it is likely to fail; and to reduce the risk of a government having to bail out a bank, if it actually fails. The key actor in the framework of the SRM is the Single Resolution Board (SRB). The SRB is the European agency responsible for the effective and consistent functioning of the SRM. This entails a responsibility for drawing up resolution plans and adopting decisions relating to resolution for the institutions that are within its realm. The actual execution of the adopted resolution scheme must be closely monitored by the SRB, but is carried out by the national resolution authorities (NRA). For institutions that fall outside the scope of the SRB’s powers, the national resolution authorities are competent to adopt resolution plans and to take resolution decisions, albeit under oversight of the SRB. The SRB will be in charge of the Single Resolution Fund, a European pool of money that is transferred from domestic resolution funds, financed by the banking sector and set up to ensure that medium-term funding support is available while a credit institution is being restructured. This book takes stock after a year of application of the SRM and examines the situation from various perspectives: the perspective of the SRB, the NRA, the supervised bank and judicial protection. Special attention is given to the division of power between the SRB and the NRA and the impact on the supervised bank, the relationship and links between the SRM and the SSM and the query whether the right balance between national and supranational powers has been struck, also in view of the principle of subsidiarity. With contributions from Pierre E. Berger, Rudi Bonte, Evy De Batselier, Hans Gilliams, Stijn Goovaerts, Yves Herinckx, David Vanderstraeten and Eddy Wymeersch.Table of ContentsIntroduction Recovery and Resolution, Future Solutions for Dealing with Insolvency - Eddy Wymeersch - 1 The Single Resolution Mechanism. Institutional and Financing Arrangements for Bank Resolution in the European Banking Union - Pierre E. Berger and David Vanderstraeten - 7 I. Introduction - 7 II. Scope of the SRM Regulation - 11 A. Scope ratione personae - 11 B. Scope ratione materiae - 13 C. Scope ratione temporis - 15 III. Institutional framework of the Single Resolution Board - 15 A. Legal status and composition - 15 B. Governance - 16 C. Accountability of the SRB - 18 IV. Division of tasks between the Single Resolution Board and NRAs - 19 V. Cooperation and information exchange within the SRM - 22 A. Cooperation between the Single Resolution Board and NRAs - 22 B. Cooperation between several actors within the Eurozone - 23 C. Cooperation with national authorities of non-participating Member States - 24 VI. Resolution process - 25 A. Resolution planning - 25 B. Early intervention - 29 C. Resolution - 31 1. General principles governing resolution and resolution principles - 31 2. Conditions for resolution - 34 3. Resolution procedure - 36 4. Resolution tools - 37 VII. The Single Resolution Fund - 41 VIII. What will the future bring for banking resolution within the European Banking Union? - 45 Resolution from the Belgian Resolution Authority’s Perspective - Evy De Batselier - 49 I. Introduction - 49 II. Resolution from an institutional perspective - 52 A. The origin of national resolution authorities as first line of defence - 52 B. The subsequent creation of a European line of defence by the SRMR - 53 III. Division of tasks - 56 A. Division of tasks between the SRB and the Belgian Resolution Board - 56 1. Ratione personae - 56 2. Ratione materiae - 56 B. Division of tasks within the NBB in its capacity of both supervisory authority and resolution authority – 57 IV. Two phases of resolution – Preparation and actual resolution - 58 A. The preparation phase – Drafting of resolution plans - 59 1. The difference between recovery and resolution plans - 59 2. Resolution strategy for groups: single point of entry (SPE) vs multiple point of entry (MPE) - 61 3. Determining the level of liabilities eligible for bail-in: - 64 4. Resolvability assessment - 66 5. Some practical observations - 67 B. The phase of actual resolution - 68 1. Conditions before entering into resolution - 68 2. Resolution tools - 69 3. Bail-in and the principle of no creditor worse off - 70 V. Resolution financing - 73 VI. Conclusion - 74 Judicial Protection in the Single Resolution Mechanism - Yves Herinckx - 77 I. Introduction - 77 II. The Appeal Panel - 78 A. Boards of Appeal at European agencies - 78 B. Composition and status - 80 C. Jurisdiction - 84 D. Procedure - 85 E. A quasi-judicial body - 90 F. Standard of review - 94 III. The Court of Justice of the European Union - 98 A. Appeals against decisions of the Appeal Panel - 99 B. Actions for annulment - 101 C. Actions for damages - 109 IV. National courts - 111 A. Preliminary references - 112 B. Ex-ante judicial approval of crisis management measures - 114 C. Valuations - 115 V. Conclusion - 118 The Rules on State Aid and the Framework for Bank Resolution: Foreplay and Interplay - Hans Gilliams and Stijn Goovaerts - 121 I. Foreplay: State aid rules as precursor and inspiration for the Single Resolution Mechanism - 121 A. Precursor: From bail-out by the State to bail-in of shareholders and creditors - 122 B. Inspiration: the SRM & the BRRD’s rules on the prevention of moral - 124 II. Interplay: The possibility of authorizing R&R aid within the Single Resolution Mechanism - 126 A. When does a measure qualify as State aid? - 127 B. Prior to clearance of State aid: Standstill Obligation - 129 C. Assessment of State aid for the resolution of credit institutions - 130 Concluding Remarks on Resolution and Resolvability Challenges - Rudi Bonte - 135 I. The move from policy design to implementation - 135 II. The complex process of pulling the resolution trigger - 136 III. The comprehensive menu for the resolution authorities - 138 IV. The drivers to achieve resolvability - 139 V. The learning points from crisis management - 140

Read more less

Book SynopsisIn modern society, movables have become an important part of one’s wealth. The transactions concerning movables have noticeably become ever more complicated, implying that the legal relationships of personal property are considerably intricate. Under this pretext the question arises how to preclude conflicts for different transactions to realize the target of ‘preventive justice’ under a strong publicity system.This book focuses on the traditional aspects of publicity, possession and notification with respect to corporeal movables and claims, and includes a comparative study of English law, German law and Dutch law. The principle of publicity on the basis of possession and notification is nowadays no longer tenable. Instead it is more desirable to introduce registration, traditionally a method of publicity for immovable property, in the law of corporeal movables and claims. In three case studies, this book argues that a system should incorporate secured transactions and trust, and an independent central register should be established as is the case for other jurisdictions.Table of Contents1 Introduction: Context, Question, Methodology and Outline; 2 Property Rights and Publicity; 3 Possession and Corporeal Movables; 4 Notification, Documental Recordation, and Claims; 5 Meeting the Requirement of Publicity by Registration; 6 Implications for the Principle of Publicity under the 2020 Chinese Civil Code; Summary; Samenvatting; References; Index

Read more less

Book SynopsisThis book sets out to answer two main questions: what is the status quo of the position of Dutch works councils in multinational corporations? And which tools within the Dutch legal framework can be utilised in order to secure the successful involvement of the works council in the decision-making process in light of the increasingly globalised economy? The findings show that many participation rights are frequently used in practice, but not always. The inventory of good practices further revealed that a multitude of potential solutions are applied in practice. They show that, through negotiation and long-term experiences with participation mechanisms, tailor-made employee participation processes can be achieved. Overall, the position of the examined Dutch works councils is solid. However, works councils, management and supervisory boards and other stakeholders need to work on several aspects in order to improve the position of works councils and to safeguard their statutory rights - a theme that is emphasised throughout this study. Marcus Meyer's primary research focus is on employee participation issues in multinational corporations, both under national and EU law. His research is primarily of an empirical nature and focuses both on quantitative as well as qualitative legal research. Having participated in a number of research projects on cross-border mergers and corporate mobility, he also has a strong interest in corporate governance issues.Table of ContentsChapter I: Introduction; Chapter II: Methodology; Chapter III: The Dutch legal framework; Chapter IV: Quantitative results; Chapter V: Qualitative results; Chapter VI: A bird’s eye view on Dutch works councils in MNCs; Chapter VII: Conclusion

Read more less

Book SynopsisThe main aim of this book is to assess the importance of international rules for foreign direct investment and the major challenges to international harmonization of those rules. Particular attention is paid to the most controversial and contentious issues with the view of appraising the prospects for establishing global rules. The book is divided into three parts; the first part includes papers assessing the role of national and international legislation with further distinction being made between bilateral, regional and multilateral legal frameworks. The second part addresses regulatory issues of technology transfer, labor, environment, subsidies and investment incentives, national security, public services and sovereign wealth funds. The final part looks at the experience of some international fora in addressing these issues and at some theoretical and conceptual problems of rule harmonization. The papers have been written by legal and economic scholars from leading universities.Table of ContentsWTO Agreements and Other Multilateral Investment Instruments; Mode 3 GATS (and Protocols of Accession); Investment in National Legislation and Problems of Regulatory Diversity; The Limits of Harmonization: Controversial Issues in the Theory of Regulations; Environmental Protection; Transfer of Technology; Labor Standards; Investment Liberalization and National Security; Subsidies and the Existing Investment Regimes; Sovereign Wealth Funds; Public Services and Investment Liberalization; Level-Playing Fields for OECD and Non-OECD Countries? The Case of Extractive Industries in Developing Countries; The EU Investment Model.

Read more less

Book SynopsisIn this volume, what are thought to be some of the more important aspects of the Dodd-Frank Act are discussed from a number of perspectives, including that of industry scholars who have been actively involved in evaluating financial regulation, regulators who are responsible for implementing the reform, financial policy experts representing think tanks and banking trade associations, congressmen and congressional staff involved with developing the legislation, and legal scholars. The volume summarizes the act, evaluates how the new regulations are being implemented and how the implementation process is progressing, and discusses modifications that, in the views of the authors, might be needed to more effectively achieve the stated goals of the legislation.Table of ContentsIntroduction and Summary of the Act: The Dodd - Frank Act: An Overview (Douglas D Evanoff and William F Moeller); Critical Assessment of the Act: Regulating Wall Street: The Dodd - Frank Act (Matthew Richardson); Financial Stability Via Regulation: Financial Stability Regulation (Daniel K Tarullo); Implementing Dodd-Frank: Identifying and Mitigating Systemic Risk (Mark Van Der Weide); Implementing the Dodd - Frank Act: Progress to Date and Recommendations for the Future (Scott D O'malia); Dodd - Frank Act Implementation: Well Into It and No Further Ahead (Wayne A Abernathy); Financial Stability via Efficient Failure Resolution: We Must Resolve to End too Big to Fail (Sheila C Bair); The Orderly Liquidation of Lehman Brothers Holdings Inc. Under the Dodd - Frank Act FDIC; Implementing Dodd - Frank: Orderly Resolution (Martin J Gruenberg); Resolving Globally Active, Systemically Important, Financial Institutions Federal Deposit Insurance Corporation and Bank of England; An Alternative View: Financial Stability via Bank Breakups: Do Sifis Have a Future? (Thomas M Hoenig); Ending Taxpayer-Funded Bailouts: Dodd-Frank Promises More Than It Can Deliver (Richard W Fisher and Harvey Rosenblum); Solving the too Big to Fail Problem (William C Dudley); Consumer Protection: Partnering: The Consumer Financial Protection Bureau And State Attorneys Generals (Richard Cordray); Prepared Remarks Before the National Association of Attorneys General (Richard Cordray); The Consumer Financial Protection Bureau: The Solution or the Problem? (Brenden D Soucy); Was Dodd-Frank Necessary? Needed?: The Financial Crisis nd "Too Big to Fail" Barney Frank and the Minority Staff of the House Financial Services Committee; A Dissent from the Majority Report of the Financial Crisis Inquiry Commission (Peter J Wallison).

Read more less

Book SynopsisEver since the Great Recession, the global financial regulatory system has undergone significant changes. But have these changes been sufficient? Have they created a new problem of over-regulation? Is the system currently in a better position than in the pre-Recession years, or have we not adequately addressed the basic causes of the financial crisis and resulting Great Recession?These were the questions and issues addressed in the seventeenth annual international banking conference held at the Federal Reserve Bank of Chicago in November 2014. In collaboration with the Bank of England, the theme of the conference was to examine the state of the new global financial system as it has evolved in response to significant market changes and regulatory reforms triggered by the global financial crisis. The papers from that conference are collected in this volume, with contributions from an international array of government officials, regulators, industry practitioners and academics.

Read more less

Book SynopsisIntroduction.- Formal Legal Instruments.- Substantive Reforms.- Institutional Governance.- Case Study: Taiwan.- Conclusion.

Read more less

Book Synopsis

Read more less

Book Synopsis

Read more less