|
Books > Law > Laws of other jurisdictions & general law > Financial, taxation, commercial, industrial law > Financial law > Banking law
In recent years, an increasing number of clients and third parties
have filed claims against banks such as for mis-selling financial
products, poor financial advice, insufficient disclosure of and
warning about financial risks. The scope of a bank's duty of care
seems to expand, not only to include protection of consumers
against unclear risks of complicated products but also protection
of professional parties against more obvious risks of relatively
straightforward products. This topic raises many questions, both at
a theoretical and practical level. This book provides a rich source
of information about how various jurisdictions (Germany, Austria,
France, Italy, Spain, the Netherlands, England and Wales, Ireland,
and the United States of America) deal with these questions and how
answers are found or embedded in their national legal systems. The
book also contains a detailed chapter on the MiFID I and II
conduct-of-business provisions. Finally, the book provides a
thorough comparative analysis and perspective.
The emergence of mobile money and other new forms of payment has
changed the sovereign foundations of money. Starting as a
Department for International Development funded project in Kenya,
mobile money has now spread to many developing countries. This book
looks at the regulatory issues that mobile money poses, and the
potential risks to the financial system. It undertakes a
comparative study of mobile money regimes in Kenya, Malawi,
Tanzania, and South Africa. Although the main study is on Malawi,
the lessons learnt are valuable to Sub Saharan Africa in
understanding the regulatory issues surrounding mobile money. The
main argument that this book makes is that the traditional
regulatory architecture of supervising the financial services is
ill-suited to supervise new forms of money like mobile money. With
no requirement for a bank account, mobile money is not subject to
prudential regulation. Mobile money is now considered a key
developmental tool to achieve financial inclusion among the poor,
rural based, unbanked, and underbanked. As opposed to traditional
additive forms of financial inclusion, mobile money is
transformative. In most jurisdictions where it has been launched,
mobile money has largely been regulated using light-touch, with
regulation following innovation. This work, however, proposes an
approach based on the concept of really responsive regulation. This
approach is best suited to embrace mobile money as it passes from
the pre-financial inclusion to the post-financial inclusion phases
of its evolution. This book will appeal to students and academics
in the financial regulation field.
The multilateral development banks cumulatively channel billions of
dollars annually in development assistance to borrower countries.
This finance is usually spent through processes that incorporate
the public procurement regulations of the banks and it is often a
condition of this finance that the funds must be spent using the
procurement regulations of the lender institution. This book
examines the issues and challenges raised by procurement regulation
in the multilateral development banks. The book examines the
history of procurement regulation in the banks; the tripartite
relationship created between the banks, borrowers and contractors
in funded procurements; the procurement documents and procurement
cycle; as well as how the banks ensure competition and value for
money in funded procurements. The book also examines the banks'
approach to sustainability concerns in public procurement such as
environmental, social or industrial concerns; as well as how the
banks address the issue of corruption and fraud in funded
contracts. Another issue that is addressed by this book is how the
banks have implemented the aid effectiveness agenda. It will be
seen that the development banks have undertaken steps to harmonise
their policies and practices, increased borrower procurement
capacity, taken steps to reduce the tying of aid, and play an
important role in the reform of borrower procurement systems, all
in an effort to improve the effectiveness of development finance.
The book also considers the contractual and other remedies that are
available to parties that may be aggrieved as a result of a funded
procurement. The book analyses, compares and contrasts the legal,
practical and institutional approaches to procurement regulation in
the World Bank, the Inter-American Development Bank, the African
Development Bank, the Asian Development Bank and the European Bank
for Reconstruction and Development.
This book discusses the Uniform Commercial Code (U.C.C.) Articles
3, 4, and 4A in detail. It also explains to what extent provisions
and interpretive cases decided prior to the promulgation of Article
4A and prior to the 1990 revision of Articles 3 and 4 are still
useful, and why changes made were needed. It discusses issues not
generally recognized and treated elsewhere, including the meaning
of the new standard of good faith, the relation between
"accountability" and "final payment," and consequences of radical
truncation. In addition to the discussion of payment Articles in
the Uniform Commercial Code, the book contains up to date
discussion of other payment systems like credit and debit card
systems, and other payment methods including prepaid cards, PayPal,
mobile payments, and virtual currency transfers.
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'.
The 2018 Edition contains the major chapters of title 12 of the
United States Code covering the National Bank Act, the Federal
Reserve Act, the Federal Deposit Insurance Corporation Act, the
Home Owners Loan Act, the Federal Credit Union Act, the Bank
Holding Company Act, the Bank Service Company Act, and the
International Banking Act. The supplement reflects the changes made
by the Dodd-Frank Act. Additions made by Dodd-Frank to existing
statutory provisions are underlined so the reader may easily locate
the Dodd-Frank changes. In addition, each statutory provision
includes a citation to the section of Dodd-Frank which amends it.
New statutory provisions of Dodd-Frank codified in Chapter 53 of
Title 12 (including provisions relating to the FSOC, CFPB, and the
Orderly Liquidation Authority) are included as well. Relevant
provisions of the Securities Exchange Act, federal provisions
relating to insurance, and the Gramm-Leach-Bliley Act's provisions
related to privacy are also included. Excerpts from the New York
banking statutes provide a sample of state regulation of banking.
The supplement also contains selected regulatory provisions from
the Comptroller of the Currency, the Federal Reserve System Board
of Governors, the Federal Deposit Insurance Corporation, as well as
the table of contents of regulations issued by the Consumer
Financial Protection Bureau.
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.
|
|