Since the Great Recession of 2008, the racial wealth gap between black and white Americans has continued to widen. In Predatory Lending and the Destruction of the African-American Dream, Janis Sarra and Cheryl Wade detail the reasons for this failure by analyzing the economic exploitation of African Americans, with a focus on predatory practices in the home mortgage context. They also examine the failure of reform and litigation efforts ostensibly aimed at addressing this form of racial discrimination. This research, augmented by first-hand narratives, provides invaluable insight into the racial wealth gap by vividly illustrating the predation that targets African-American consumers and examining the intentionally obfuscating settlement terms of cases brought by the U.S. Department of Justice, states attorneys, and municipalities. The authors conclude by offering structural, systemic changes to address predatory practices. This important work should be read by anyone seeking to understand racial inequality in the United States.

This book examines how international investment arbitral awards can be facilitated. It sets out to achieve a fuller conceptualisation and theorisation of awards through a discussion of relevant issues and themes, as well as demonstrating how they can be achieved through a comparative approach that has been conceived and developed with reference to existing deficiencies in the research literature. This contribution is particularly important given the worldwide emergence of investment arbitration as a powerful form of alternative dispute resolution (ADR). The book ultimately seeks to explore and develop solutions that can be directed to an existing oversight and deficit within the international investment architecture. In considering the advantages and disadvantages of each 'solution', it will work towards an approach best-suited to upholding the interest of the victorious party at the enforcement stage. The enforcement of arbitral awards on a voluntary basis has proven to be insufficient, and this created a real and ongoing shortcoming that needs to be addressed. International Investment Dispute Awards: Facilitating Enforcement therefore seeks to directly influence existing practice on the part of international institutions, with the intention of helping to develop a more effective resolution. The readerships for this book will include arbitration practitioners, policy-makers (including treaty drafters), academics and postgraduate students interested in the enforcement of investment arbitral awards.

What is Money Laundering (‘ML’)? How has the definition of ML expanded in recent years? Where does AML law and regulation come from? When must I report any ‘suspicion’? Money Laundering Compliance is designed as a detailed reference source both on legal and technical details, as well as practical and procedural points. It provides a technical and practical overview of AML/CFT provisions in the UK and other key international jurisdictions including: - Bahamas - Bermuda - Cayman Islands - Guernsey - Isle of Man - Jersey - Singapore - Switzerland - United States The Fourth Edition has been completely revised in line with recent legislation and case law, with other key areas of change including: - The impact of Brexit on the UK’s position vis-a-vis EU Law, and in particular in relation to the EU Money Laundering Directives covering AML/CFT matters - ‘Economic Substance’ requirements in key jurisdictions - A new chapter on FinTech, the host of AML/CFT RegTech websites/Mobile Apps, and the introduction of new methods of CDD verification - A new chapter on crypto assets and regulation - Current sanctions against defined Russian Oligarchs - The general prohibition against the provision of trust and company services to certain ‘Russian-connected’ trusts This essential resource ensures that finance professionals, private bankers, lawyers, trust and estate practitioners, regulators, compliance officers and other advisers remain up to date with this increasingly complex and crucial area of law. This title is included in Bloomsbury Professional's Banking and Finance online service.

This book focuses on market law and policy in sub-Saharan Africa, showing how markets can be harnessed by poorer and developing economies to help make the markets work for them: to help them integrate into the world economy and provide a better standard of living for their people while preserving their values of inclusive development. It explores uses of power both by dominant firms, often multinationals, and incumbent governments and cronies, to ring-fence their market positions and deprive rivals - often the indigenous people - from fair access to markets and highlights how competition authorities are pushing back and winning fair access, lowering prices of goods and services especially for the poorer population. The book also examines the next level up - regionalism - and provides the facts that show how regionalism has so far failed to meet its promise of freeing markets from cross-border restraints by large firms that operate across national borders. On the more technical side, the book takes a deep look at the competition policies of sets of nations in sub-Saharan Africa - West, South-eastern, and South. It examines the performance of the competition authorities of particular nations, including how they handle cartels, monopolies, and mergers; their standards of illegality, and their methodologies for incorporating public interest values into their analyses. Observing the good works by a number of the national competition authorities, the book is optimistic about the role of the national competition authorities in protecting the people from abuses of economic power, and, perhaps in the future, the role of regional authorities and less formal networks in promoting an African voice in defence of competition.

Das Bezugsrecht der GmbH-Gesellschafter und der Kommanditaktionare kann trotz der regelmassig personalistischen Struktur der GmbH und der KGaA ausgeschlossen werden. Erfolgt der Bezugsrechtsausschluss im Rahmen einer genehmigten Kapitalerhoehung, steht er im Spannungsverhaltnis zwischen dem gesteigerten Interesse der Bezugsrechtsinhaber an einem effektiven Schutz ihres Bezugsrechts einerseits und der beschleunigenden Wirkung des genehmigten Kapitals andererseits. Der Autor bietet zunachst eine ubersichtliche Darstellung des Rechtsinstituts des genehmigten Kapitals und des Bezugsrechtsausschlusses. Daran anschliessend stellt er die an einen zulassigen Bezugsrechtsausschluss zu stellenden Anforderungen systematisch fur die unterschiedlichen Rechtsformen und Konstellationen auf.

The 2008 global financial crisis ushered in the biggest explosion in new bank regulation around the world since the Great Depression. Even more so than then, this new regulation has been coordinated on a global basis and reflects global standards as well as local idiosyncracies. Although governments and regulators have sought to put measures in place to prevent the failure of banks, they have acknowledged the need for measures to address what happens when banks fail or are threatened with failure and how to resolve such failure. Bank Resolution and Crisis Management: Law and Practice deals with the measures which European, U.S. and international law and policy makers have sought to put in place to deal with the threat of financial institutions failing, including enhanced supervision, early intervention and so called 'living wills'. Measures such as 'bail-out' (protecting private shareholders and creditors against losses) and 'bail-in' (imposing losses on shareholders and long-term creditors without causing contagion among short-term creditors) are discussed. The work includes comprehensive summaries and commentary on the EU Bank Recovery and Resolution Directive, the UK resolution laws including the Banking Act 2009 and amendments to that act, the Orderly Liquidation Authority under Title II of the U.S. Dodd-Frank Act, proposed new Chapter 14 to the U.S. Bankruptcy Code, and the bank resolution provisions of the U.S. Federal Deposit Insurance Act. The book also provides detailed commentary on the provisions in the Banking Act 2009 dealing with resolution, including discussion of the stabilisation, bank administration and insolvency powers. This includes analysis of secondary legislation such as the Partial Transfers Order. Special emphasis is given to the practical effect of such measures on financial transactions and their impact on arrangements, such as netting and set-off. There is also commentary on the Financial Services Investor Compensation Scheme and its role in returning money to the depositors in a failing bank. The special position of failing investment banks is also a feature of the book. Coverage includes analysis of the legislation adopted to address the particular issues that arose in the failure of Lehman Brothers and the resulting litigation, particularly that relating to the recovery of client assets. This work will be invaluable for regulatory, transactional and insolvency lawyers and other professionals advising banks on their powers and governance processes, in structuring and documenting transactions and in dealing with banks in the course of insolvency proceedings.

The global financial and economic crisis which started in 2008 has had devastating effects around the globe. It has caused a rethinking in different areas of law, and posed new challenges to regulators and private actors alike. One of the emerging issues is the apparent eclipse of boundaries between different legal disciplines: financial and corporate lawyers have to learn how public law instruments can complement their traditional governance tools; conversely, public lawyers have had to come to understand the specificities of the financial markets they intend to regulate. While commentary on financial regulation and the global financial crisis abounds, it tends to remain within disciplinary boundaries. This volume not only brings together scholarship from different areas of law (constitutional and administrative law, EU law, financial law and regulation), but also from a variety of backgrounds (academia, practice, policy-making) and a number of different jurisdictions.The volume illustrates how interdisciplinary scholarship belongs at the centre of any discussion of the economic crisis, and indeed regulation theory more generally. This is a timely exploration of cutting-edge issues of financial regulation. '...a very welcome addition to the limited European legal literature on the global financial crisis...it constitutes an important contribution in the field and it is certainly to be applauded for paving the way for further cross-disciplinary discussion amongst lawyers'. Mihalis Dekastros, European Journal of Legal Studies, 2014, Vol 7 '...Ringe and Huber's book provides important, if not indispensable elements for a coherent theory and doctrine of the law within the financial crisis'. Matthias Ruffert, Common Market Law, 2015, Vol 52 (1) '[T]his book is interesting for anyone working in a dynamic area of law. Academics will want to go through it in its entirety...' Dimitrios Kyriazis, Law Quarterly Review, 2015, Vol 131

Ellinger'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. The book examines the different types of banks and banking organizations operating in the United Kingdom, also making use of American, Canadian, New Zealand and Australian examples. 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 checks, 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 Center
Weblinks and twice-yearly updates will be available on an Online Resource Center accompanying the book.

Banking Law Day 2009 in Frankfurt focused on the topics Implementation of the Payment Services Directive under Civil Law and The Financial Market Crisis and the Implementation of the Consumer Credit Directive. Under the direction of Walther Hadding and Mathias Habersack, participants from academia, daily practice and legislation contributed to discussions."

The Banking Law Day 2008 in Mainz dedicated itself to the topic of consumer protection in the credit business and compliance in the banking industry. Speakers from the fields of business, practice, and judicature debated under the guidance of Rainer Metz and Michael Berghaus.

The Banking Law Conference 2007 in Hanover was dedicated to the subjects of current insolvency law problems of the banking industry and investor protection within structured products. Speakers from academe and practice discussed these subjects under the direction of Karsten Schmidt and Katja Langenbucher.

This book compares workfare policies in the United States and 'active labor policies' in Western Europe that are aimed primarily at the long-term unemployed, unemployed youth, lone parents, immigrants and other vulnerable groups often referred to collectively as the 'socially excluded'. The Europeans maintain that workfare is the best method of bringing the socially excluded back into mainstream society. Although there are differences in terms of ideology and practice, Joel F. Handler argues that there are also significant similarities, especially field-level practices that serve to exclude those who are the least employable or lack other qualifications that agencies favor. The author also examines strategies for reform, including protective labor legislation, the Open Method of Coordination, the reform of social and employment services, and concludes with an argument for a basic income guarantee, which would not only alleviate poverty but also provide clients with an exit option.

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. _ Digital formats and resources This textbook is available for students and institutions to purchase in a variety of formats, and is supported by online resources The e-book offers a mobile experience and convenient access, along with functionality tools, navigation features, and links that offer extra learning support: www.oxfordtextbooks.co.uk/ebooks The text is also supported by online resources, which include web links to enhance research and updates to the law.

In 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.

At a time when financial crime routinely crosses international boundaries, this book provides a novel understanding of its spread and criminalisation. It traces the international convergence of financial crime regulation with a uniquely comparative approach that examines key institutional and state actors including the European Union, the International Organization of Securities Commissions, as well as the United States, the United Kingdom, Switzerland, France, Italy and Germany, all countries that harbour some of the most influential stock exchanges in the Western world. The book describes and documents the phenomenon of internationalisation of securities frauds - such as insider trading and market manipulation - and the laws criminalising those acts, most notably those responding to recent dramatic transformations in securities markets, high frequency trading, and benchmark manipulation. At the European level, it shows the progressive uniformisation of laws culminating in the 2014 European Union Market Abuse Regulation. The book argues that criminal prohibitions against internationalised market abuse must be understood as an economic and legal imperative to protect financial markets against activities that imperil its integrity, compromising the confidence of investors and thus affecting the economy as a whole. The book is supported by an extensive review of the most significant scholarship in each country.

Over the last few decades, many countries have reformed their secured transactions law. One of the main reasons has been the clear link between reform and the availability of credit, and the drive to improve access to finance, particularly for micro, small and medium-sized enterprises. This book focuses particularly on developing economies in Africa, which have legal frameworks influenced by English, French, Belgian, Roman-Dutch and other laws. Reform in this area of law across African countries has taken a number of forms, which are explored and discussed in this book. Secured Transactions Law Reform in Africa is a mixture of a critical description of the pre-reform law and practice, and the reform process itself. It also includes a comparative analysis of the legal provisions and an examination of the early results of the reforms. The book sets out a road map for the future of secured transactions reform; primarily in Africa, but also in other countries that have undertaken or are contemplating similar reforms. This book is the second in a series of books about Secured Transactions Law in countries around the world, and its reform, both on a national and an international scale. The first book, Secured Transactions Law Reform: Principles, Policies and Practice, was published in 2016.

Everyone is talking about fintech, and they're usually saying good things. Driverless Finance provides a balance to that conversation, exploring the threats that different fintech innovations pose for our financial system. With in-depth and accessible descriptions of new financial technologies and business models - ranging from distributed ledgers to machine learning, cryptoassets to robo-investing - this book allows readers to think more critically about fintech, and about how the law should respond to it. This book highlights the increased speed, complexity, and coordination inherent in new fintech innovations, and illustrates how these features could come together in a massive financial system failure. It makes the case for a precautionary approach to regulating fintech, erring on the side of caution to avoid a financial crisis that could have irreversible and catastrophic effects for our society. Because neither longstanding regulatory approaches nor experimental new approaches like regulatory sandboxes were designed to address fintech's systemic risks, this book makes several bold new proposals for regulation designed to make fintech-inspired financial crises less likely. These proposals include new forms of disclosure and supervision, new forms of technological tools (known as suptech), and a new licensing regime for financial technologies. This book finishes by situating its discussion of fintech and financial stability in the context of important debates about innovation, expertise, cybersecurity, privacy, competition, and other pressing issues.

The Oxford Handbook of Banking, Third Edition provides an overview and analysis of developments and research in this rapidly evolving field. Aimed at graduate students of economics, banking, and finance; academics; practitioners; regulators; and policy makers, it strikes a balance between abstract theory, empirical analysis, and practitioner and policy-related material. Split into five distinct parts The Oxford Handbook of Banking is a one-stop source of relevant research in banking. It examines the theory of banking, bank operations and performance, regulatory and policy perspectives, macroeconomic perspectives in banking, and international differences in banking structures and environments. Taking a global perspective it examines banking systems in the United States, China, Japan, Australia and New Zealand, Africa, the European Union, transition countries of Europe, and Latin America. Thematic issues covered include financial innovation and technological change; consumer and mortgage lending; Islamic banking; and how banks influence real economic activity. Fully revised and now including brand new chapters on a range of geographical regions, bank bailouts and bail-ins, and behavioral economics amongst many other topics, this third edition of The Oxford Handbook of Banking provides readers with insights to seminal and contemporary research in banking and an opportunity to learn about the diversity of financial systems around the world.