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An accessible, comprehensive analysis of the main principles and rules of banking regulation in the post-crisis regulatory reform era, this textbook looks at banking regulation from an inter-disciplinary perspective across law, economics, finance, management and policy studies. It provides detailed coverage of the most recent international, European and UK bank regulatory and policy developments, including Basel IV, structural regulation, bank resolution and Brexit, and considers the impact on bank governance, compliance, risk management and strategy.
Exploring all aspects of domestic, European and international laws and regulation, Banking Law is essential reading for students and practitioners alike. From examining the academic debates, policy considerations and practical influences underpinning the regulations, this text offers you a truly socio-economic and contextual approach to a subject which impacts on the daily lives of people worldwide.
Jopie: Jurist, Mentor, Supervisor and Friend - Essays on the Law of Banking, Companies and Suretyship is published in honour of Professor Jopie Pretorius, who will be retiring from his chair in banking law at UNISA at the end of 2017. The collection comprises personal tributes by family members, friends and colleagues, and academic essays that deal with banking law, company law and suretyship.
The Law Of Banking And Payment In South Africa provides an explanation of some of the more important aspects of the law applicable to banks and banking in South Africa, along with the principles that govern payment and payment systems in this country.
The Law Of Banking And Payment In South Africa covers the following areas: a general introduction to banks and banking law; the nature of banking law and its sources; the role and function of the Reserve Bank and the various statutes that regulate banks; the bank–customer relationship; miscellaneous banking services provided by banks; general principles of payment; the law applicable to various payment systems; unauthorised cheque payments and unauthorised electronic funds transfers; international sale transactions; and bank guarantees.
The aim of the authors is to provide a text that is both accessible for students and other persons seeking to gain a basic understanding of the subject, and comprehensive enough to be useful to lawyers, bankers and those who work in the field of banking and finance.
In Blockchain Regulation and Governance in Europe, Michele Finck examines the relationship between blockchain technology and EU law and introduces the theme of blockchain governance. The book provides a general introduction to blockchains as both a regulatable and a regulatory technology and outlines the interaction between distributed ledger technology and specific areas of EU law, such as the General Data Protection Regulation. It should be read by anyone interested in EU law, the relationship between law, innovation and technology, and technology governance.
The European Account Preservation Order (EAPO) Regulation provides a protective measure for creditors wishing to freeze the bank account of their debtor, preventing the transferral or withdrawal of funds. Courts can issue freezing measures over bank accounts located in other member states, thereby establishing a new remedy for cross-border debt recovery in Europe. This book provides a detailed article-by-article commentary of the EAPO Regulation. It describes its legislative history and structure and carries out a critical analysis of its provisions and recitals, focusing on the practical implementation of the instrument. The commentary also provides additional focus on the interplay between the EAPO Regulation and the existing EU instruments and framework, and examines specific issues that the implementation of the Regulation might raise in member states. This is an important resource tool for practitioners, legal scholars and students interested in the theoretical and practical implications of the EAPO Regulation.
If a broker-dealer liquidates in federal bankruptcy court, why does an insurance company liquidate in state court, and a bank outside of court altogether? Why do some businesses re-organize under state law 'assignments', rather than the more well-known Chapter 11 of the Bankruptcy Code? Why do some laws use the language of bankruptcy but without advancing policy goals of the Bankruptcy Code? In this illuminating work, Stephen J. Lubben tackles these questions and many others related to the collective law of business insolvency in the United States. In the first book of its kind, Lubben notes the broad similarities between the many insolvency systems in the United States while describing the fundamental differences lurking therein. By considering the whole sweep of these laws - running the gamut from Chapter 11 to obscure receivership provisions of the National Bank Act - readers will acquire a fundamental understanding of the 'law of failure'.
A 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' unawareness of accumulated systemic risk stemming from contractual obligations between firms. To avoid repeating history, today's banks must be proactive in legal data management; this book provides the critical knowledge practitioners need to put the necessary systems and practices in place. Learn how current legal data management practices are hurting banks Understand the systems, structures and strategies required to manage risk and optimise business lines Delve into the regulations surrounding risk aggregation, netting, collateral enforceability and more Gain practical insight on legal data technology, systems and migration The legal contracts between firms contain significant obligations that underpin the financial markets; failing to recognise these terms as valuable data assets means increased risk exposure and untapped business lines. Legal Data for Banking provides critical information for the banking industry, with actionable guidance for implementation.
The Foreclosure Echo tells the story of the ordinary people whose quest for the American dream was crushed in the foreclosure crisis when they were threatened with losing their homes. The authors, Linda E. Fisher and Judith Fox - each with decades of experience defending low-to-moderate-income people from foreclosure and predatory lending practices - have employed a range of legal, economic, and social-science research to document these stories, showing not only how people experienced the crisis, but also how lenders and public institutions failed to protect them. The book also describes the ongoing effects of the crisis - including vacant land and abandoned buildings - and how these conditions have exacerbated the economic plight of millions of people who lost their homes and have increased inequality across the country. This book should be read by anyone who wants to understand the fallout of the last financial crisis and learn what we can do now to avoid another one.
Restitution and Banking Law, written by leading practitioners and commentators, combines their experience in the field of restitution law and banking law to discuss major issues.
Using 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 literature, and puts forward a solution to tackle the problems of international cooperation in finance based on the use of international law.
Chinese foreign direct investment in the United States has generated intense debates. Some welcome it for the immediate benefits such as job creation; others view Chinese investments, especially those controlled by the Chinese government, as a critical threat. The debates have so far missed an important question: how do Chinese companies investing in the US react to the host country's law? Ji Li formulates a novel analytical framework to examine the adaptation of Chinese companies to general US institutions and their compliance with US laws governing tax, employment equality, and national security review of foreign investments. The level of compliance varies, and this variation is examined in relation to company ownership, including state ownership. Li's analysis is based on interviews and a unique and comprehensive dataset about Chinese companies in the United States that has never been systematically explored.
What was once a contested body of principles applied peripherally to the international settlement of expropriation disputes has been transformed and in its place now stands an important area of international disputes practice. International Investment Law and Arbitration offers a comprehensive introduction to the subject. Presenting the facts of daily legal practice and the largely unaltered aims of the subject alongside a broad selection of key awards and original materials, historical developments are discussed in the context of the changing directions in the arbitral jurisprudence and current treaty and arbitration reform debate. Key features: accessible and engaging commentary integrated throughout, end of chapter questions test reader understanding, further reading lists support and encourage exploration of the subject. Suitable for postgraduate law students studying modules on international investment arbitration, International Investment Law and Arbitration offers an indispensable introduction to the subject.
Countries around the world are facing pressing needs to enhance financial planning mechanisms for individuals with cognitive impairment. The book provides the first comparative study of the three most common of such mechanisms in Asia and the West, namely guardianship, enduring/lasting powers of attorney, and special needs trusts. It involves not only scholarly overviews of the mechanisms in the jurisdictions studied, but also thorough, structured and critical reviews of their operational experiences. This book will have broad appeal to scholars, students, law and policy makers and practitioners in the fields of mental disability, healthcare and elder law. It is widely recognised in the field that books like this one are needed. This book will also be of interest to undergraduate and graduate students in mental health, disability law and elder law.
Financial Regulation: Law and Policy (Second Edition) introduces the field of financial regulation in a new and accessible way. Even though a decade has passed since the most systemic financial crisis in the last 70 years and eight years have elapsed since a major shift in regulatory design, the world is still grappling with the aftermath. In addition, technology innovations, including Bitcoin and other cryptocurrencies, market forces and a changing political environment all have combined to reframe and reorient public debate over financial regulation. The book has kept up to date with all of these changes. The book analyzes and compares the market and regulatory architecture of the entire U.S. financial sector as it exists today, from banks, insurance companies, and broker-dealers, to asset managers, complex financial conglomerates, and government-sponsored enterprises. The book explores a range of financial activities, from consumer finance and investment to payment systems, securitization, short-term wholesale funding, money markets, and derivatives. The book examines a range of regulatory techniques, including supervision, enforcement, and rule-writing, as well as crisis-fighting tools such as resolution and the lender of last resort. Throughout the book, the authors note the cross-border implications of U.S. rules, and compare, where appropriate, the U.S. financial regulatory framework and policy choices to those in other places around the globe, especially the European Union.
This topical and accessible work analyses the deposit protection and bank resolution regimes in the EU and UK. The book examines key amendments to the regulatory framework post crisis, such as the Bank Recovery and Resolution Directive, and the impact of these changes on banks, legal practitioners and regulators. The book provides an assessment of current deposit protection schemes and insurance in the context of financial stability, and highlights the UK regime's limitations in relation to the US and EU systems, and possible areas for reform. All issues relating to deposit protection schemes are covered, providing a comprehensive analysis and comparison between the UK, EU and US regimes. Most importantly, a novel approach is followed, which addresses the much discussed objective of financial stability from a different perspective: by enhancing and focusing on depositor protection.
From social media to mortgage-backed securities, innovation carries both risk and opportunity. Groups of people win, and lose, when innovation changes the ground rules. Looking beyond formal politics, this new book by Cristie Ford argues that we need to recognize innovation, and financial innovation in particular, as a central challenge for regulation. Regulation is at the leading edge of politics and policy in ways that we have not yet fully grasped. Seemingly innocuous regulatory design choices have clear and profound practical ramifications for many of our most cherished social commitments. Innovation is a complex phenomenon that needs to be understood not only in technical terms, but also in human ones. Using financial regulation as her primary example, Ford argues for a fresh approach to regulation, which recognizes innovation for the regulatory challenge that it is, and which binds our cherished social values and our regulatory tools ever more tightly together.
Written by a leading figure in the field, this third edition of the Principles of Banking Law provides an authoritative account of the subject, incorporating all significant changes in banking law, regulation and practice that have occurred since the publication of the second edition in 2002. The book looks at international banking and financial services law, with in-depth expert coverage of global bank regulation, global payment systems, international bond instuments, and foreign exchange systems.
While Western economies generally display dispersed shareholding in listed companies, Asian economies commonly have concentrated shareholding also in publicly listed companies. The principal analysis in Comparative Takeover Regulation relates to the role of takeover regulation in different economies. In the Asian context, the nature of takeover regulation may necessitate a different approach, with greater emphasis on the mandatory bids and disclosure of substantial shareholding. The likelihood of hostile takeovers will be minimal. It is these differences among various jurisdictions that strike at the heart of Varottil and Wan's new work. Ideal for educational institutions that teach corporate law, corporate governance, and mergers and acquisitions, as well as for law firms, corporate counsel and other practitioners, Comparative Takeover Regulation provides students and scholars with brand new analysis of this increasingly important field of study.
Provides law students with an in-depth introduction to the UCC without burdening them with unnecessary detail. Citations have been used to enable the reader to understand the kinds of cases that might be presented under particular provisions of the Code. The materials cover payment systems under UCC Articles 3, 4, 4A, and 5, as well as related statutes, regulations, and operating rules governing negotiable instruments, the banking system, the Federal Reserve, clearinghouses, electronic payments, and letters of credit.
Banking Law and Regulation is the ideal textbook to accompany a modern course at undergraduate and post-graduate levels. A truly contemporary textbook, it fully addresses the current landscape of banking law and regulation post the 2008 financial crisis. Coverage is expertly balanced between transactional, regulatory, and private law topics across UK banking law, as well as European and international law, ensuring that this book covers everything needed for a full understanding. Packed with features, including diagrams, questions, key takeaways, and key bibliographies, student learning is supported and consolidated.
Now in its second edition, this user-friendly and comprehensive guide to the law of banking in Scotland provides in-depth analysis covering all matters relevant to bankers in both domestic and commercial banking operations in Scotland. This new edition has been thoroughly updated throughout. The key sections on securities have been drastically expanded as this is an area in which there has been an explosion of litigation, therefore it is of increasing importance to practitioners. The contents include: the historical development of banking, legal framework of banking and its supervision, customers of a bank, relationship between bank and customer, types of accounts, negotiable instruments and other orders for payment, the collecting banker and the paying banker, modern methods of money transfer, security for advances made by bankers, heritable securities, and appendices for codes of banking practice and the Ombudsman Scheme.
Homer Maxey was a war hero, multimillionaire and pillar of the Lubbock, Texas, community. During the post-World War II boom, he filled the West Texas horizon with new apartment complexes, government buildings, hotels, banks, shopping centres and subdivisions. On the afternoon of February 16, 1966, executives of Citizens National Bank of Lubbock met to launch foreclosure proceedings against Maxey. In a secret sale, more than 35,000 acres of ranch land and other holdings were divided up and sold for pennies on the dollar. By closing time, Maxey was penniless. Maxey sued the bank and every member of the board of directors, including long-time friends and business partners. Almost fifteen years, two jury trials and nine separate appeals later, the case was settled on September 22, 1980. Broke, Not Broken, the story of this record-breaking, precedent-setting legal case, illuminates a community and a self-styled go-getter who refused to back down, even when his opponents were old friends, well-heeled leaders of the community, a bank backed by powerful Odessa oil men and the most formidable attorneys in West Texas.
"A deep accounting of how America got to a point where a median white family has 13 times more wealth than the median black family." -The Atlantic "Extraordinary... Baradaran focuses on a part of the American story that's often ignored: the way African Americans were locked out of the financial engines that create wealth in America." -Ezra Klein When the Emancipation Proclamation was signed in 1863, the black community owned less than 1 percent of the total wealth in America. More than 150 years later, that number has barely budged. The Color of Money seeks to explain the stubborn persistence of this racial wealth gap by focusing on the generators of wealth in the black community: black banks. With the civil rights movement in full swing, President Nixon promoted "black capitalism," a plan to support black banks and minority-owned businesses. But the catch-22 of black banking is that the very institutions needed to help communities escape the deep poverty caused by discrimination and segregation inevitably became victims of that same poverty. In this timely and eye-opening account, Baradaran challenges the long-standing belief that black communities could ever really hope to accumulate wealth in a segregated economy. "Black capitalism has not improved the economic lives of black people, and Baradaran deftly explains the reasons why." -Los Angeles Review of Books "A must read for anyone interested in closing America's racial wealth gap." -Black Perspectives
Following the chaotic effects of the global financial crisis on European financial markets, the legislative regime introduced by the European Union (EU) represents a dramatic new approach to bank insolvency law, and will have a profound effect on the way banks function. The second edition of EU Banking and Insurance Insolvency evaluates these important developments and their implications for the Eurozone countries. A comprehensive general introduction sets out the EU insolvency law framework and the principles which govern financial institutions. The book provides detailed commentary on the Bank Recovery and Resolution Directive (BRRD) and Single Resolution Mechanism Regulation (SRMR), the legislative instruments central to the EU's response to the crisis, intended to harmonize Member States law. It considers the new powers given to government authorities under the BRRD to write down shares and debt instruments issued by banks, and the function of the newly created 'Single Resolution Board'. Commentary on the Winding-Up Directive (2001/24/EC) and the Insurance Insolvency Directive (2001/17/EC) discusses the significant changes these statutes have undergone as a consequence of the adoption of the BRRD and SRMR, as well as several high-profile court cases decided on the interpretation of these two statutes, including the Landsbanki and Kaupthing cases, and the Lehman Brothers, Isis Investments, and Heritable Bank cases. This is an invaluable practitioner guide to the new European banking insolvency regime, written by experts in the field.
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