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Books > Law > Laws of other jurisdictions & general law > Financial, taxation, commercial, industrial law > Financial law > Banking law
Title 12 presents regulations governing banking procedures and
activities of the Comptroller of the Currency, the Federal Reserve
System, the Federal Deposit Insurance Corporation, the
Export-Import Bank, Office of Thrift Supervision, Farm Credit
Administration, and the National Credit Union Administration. It
also contains regulations pertaining to other types of banking
operations. Additions and revisions to this section of the code are
posted annually by January. Publication follows within six months.
Winner of the 2016-2018 KG Idman Prize. This monograph seeks the
optimal way to promote compatibility between systems of proprietary
security rights in Europe, focusing on security rights over
tangible movables and receivables. Based on comparative research,
it proposes how best to tackle cross-border problems impeding trade
and finance, notably uncertainty of enforceability and unexpected
loss of security rights. It offers an extensive analysis of the
academic literature of more recent years that has appeared in
English, German, the Scandinavian languages and Finnish. The author
organises the concrete means of promoting compatibility into a
centralised substantive approach, a centralised conflicts-approach,
a local conflicts-approach and a local substantive approach. The
centralised approaches develop EU law, and the local approaches
Member State laws. The substantive approaches unify or harmonise
substantive law, while the conflicts approaches rely on private
international law. The author proposes determining the optimal way
to promote compatibility by objective-based division of labour
between the four approaches. The objectives developed for that
purpose are derived from the economic functions of security rights,
the conditions for legal evolution and a transnational conception
of justice. This book is an important contribution to the future of
secured transactions law in Europe and more widely. It will be of
interest to academics, policymakers and legal practitioners
involved in this field.
This book examines a key aspect of the post-financial crisis reform
package in the EU and UK-the ratcheting up of internal control in
banks and financial institutions. The legal framework for internal
controls is an important part of prudential regulation, and
internal control also constitutes a form of internal gate-keeping
for financial firms so that compliance with laws and regulations
can be secured. This book argues that the legal framework for
internal control, which is a form of meta-regulation, is
susceptible to weaknesses, and such weaknesses are critically
examined by adopting an interdisciplinary approach. The book
discusses whether post-crisis reforms adequately address the
weaknesses in regulating internal control and proposes an
alternative strategy to enhance the 'governance' effectiveness of
internal control.
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.
Why and in what ways have lawyers been importing economic theories
into a legal environment, and how has this shaped scholarly
research, judicial and legislative work? Since the financial
crisis, corporate or capital markets law has been the focus of
attention by academia and media. Formal modelling has been used to
describe how capital markets work and, later, has been criticised
for its abstract assumptions. Empirical legal studies and
regulatory impact assessments offered different ways forward. This
book presents a new approach to the risks and benefits of
interdisciplinary policy work. The benefits economic theory brings
for reliable and tested lawmaking are contrasted with important
challenges including the significant differences of research
methodology, leading to misunderstandings and problems of efficient
implementation of economic theory's findings into the legal world.
Katja Langenbucher's innovative research scrutinises the potential
of economic theory to European legislators faced with a lack of
democratic accountability.
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