A team of scholars with backgrounds in criminology, sociology, economics, business, government regulation, and law examine the historical, social, and cultural causes of the 2008 economic crisis. Essays probe the workings of the toxic subprime loan industry, the role of external auditors, the consequences of Wall Street deregulation, the manipulations of alpha hedge fund managers, and the "Ponzi-like" culture of contemporary capitalism. They unravel modern finance's complex schematics and highlight their susceptibility to corruption, fraud, and outright racketeering. They examine the involvement of enablers, including accountants, lawyers, credit rating agencies, and regulatory workers, who failed to protect the public interest and enforce existing checks and balances. While the United States was "ground zero" of the meltdown, the financial crimes of other countries intensified the disaster. Internationally-focused essays consider bad practices in China and the European property markets and draw attention to the far-reaching consequences of transnational money laundering and tax evasion schemes. By approaching the 2008 crisis from the perspective of white collar criminology, contributors build a more general understanding of the collapse and crystallize the multiple human and institutional factors preventing capture of even the worst offenders.

Der anhaltende Strukturwandel in der Landwirtschaft hat insbesondere in dem vergangenen Jahrzehnt zu einer VerAnderung des agrarpolitischen Leitbildes gefA1/4hrt. Der bAuerliche Familienbetrieb wird unter betriebswirtschaftlichen Gesichtspunkten seine Bedeutung zunehmend verlieren. Dagegen wird das leistungs- und wettbewerbsfAhige Unternehmen im lAndlichen Raum in den Mittelpunkt der zukA1/4nftigen Agrarpolitik von Nationalstaaten und EuropAischer Gemeinschaft treten. Diese Entwicklung wird durch die haushaltspolitischen ZwAnge sowie den handelspolitischen Druck im Rahmen der WTO noch verstArkt. Vor diesem Hintergrund A1/4berprA1/4ft der Autor, ob das nach wie vor zur Anwendung kommende Agrarsonderrecht obsolet geworden oder aufgrund seiner Aoebereinstimmung mit dem fA1/4r die Unternehmen der A1/4brigen Wirtschaftsbereiche geltenden Recht durch diese zu ersetzen ist.

States' efforts to reform the international investment regime have triggered an arbitral backlash. In response to shortcomings of earlier investment agreements, states concluded a new generation of investment treaties that actively balances investment protection obligations with host country policy space. These new-generation agreements are more comprehensive, more precise, and include novel features such as general public policy exceptions. This book reviews the first set of awards rendered under those agreements and finds that new treaties have produced old interpretive outcomes in investment arbitration, and undermine state-driven investment reforms. Adopting a systemic, evidence-based, and interdisciplinary perspective, the book leverages new data that comprehensively reflects regime dynamics, employs state-of-the-art technology including legal data science to treat the text of more than 3000 investment agreements as data, and draws from a range of theoretical frameworks spanning from law and economics to complexity science. The result is a new and authoritative empirical account of the evolution and current state of the international investment regime.

Effectively implement comprehensive anti-money laundering regulations Handbook of Anti-Money Laundering details the most up-to-date regulations and provides practical guidance toward implementation. While most books focus on the regulations themselves, this useful guide goes further by explaining their meaning to bank operations, and how the rules apply to real-life scenarios. The international perspective provides a broader understanding of the anti-money laundering controls that are in place worldwide, with certain country-specific details discussed in-depth. Coverage includes the Wolfsberg Principles, Financial Action Task Force guidance, the U.S. Patriot Act, and the latest from both the EU and Bank for International Settlements. The IMF estimates that two to five per cent of the global GDP $590 billion to $1.5 trillion is laundered every year. Globally, banks and other financial institutions have been required to put in place specific arrangements to prevent and detect money laundering and the criminal activity that underlies it. This book provides the latest regulations and guidance toward application. * Understand what money laundering regulations mean in practice * Reference international and country-specific rules and regulations * Get up to speed on the most current regulations and practices * Implement the most effective anti-money laundering measures In response to the increased monitoring and regulation, money launderers have become more sophisticated at disguising the source of their funds. Financial institutions' employees must be ever more aware of what they're facing, and how to deal with it, making actionable guidance a critical companion to any regulatory information. For financial institutions seeking more thorough understanding and practical advice, the Handbook of Anti-Money Laundering is a comprehensive guide.

RA und Notar Peter Leonhardt, Berlin; Prof. Dr. Stefan Smid, Kiel; RA Prof. Dr. Mark Zeuner (Hrsg.), Hamburg; RA Katrin Amberger, Berlin. Mit der Aufhebung oder Einstellung des Insolvenzverfahrens endet die Tatigkeit des Insolvenzverwalters, der dann seine Vergutung als Verfahrenskosten nach Massgabe der Insolvenzrechtlichen Vergutungsverordnung (InsVV) geltend machen kann. Die Vergutung wird nach sog. "Regelsatzen" gewahrt, die sich nach dem Wert der Insolvenzmasse zur Zeit der Beendigung des Insolvenzverfahrens berechnet. Mittlerweile ist die Bedeutung der InsVV auch abseits der spektakularen Falle ("Funf Millionen Euro fur zehnwochige Tatigkeit " - "50 Millionen fur Kaufhaus-Insolvenzverwalter ") weiter gestiegen, da es um die angemessene Vergutung der Verwalter geht und entsprechend hart "gekampft" wird. Der Kommentar erlautert die InsVV praxisorientiert unter Berucksichtigung der neuesten Rechtsprechung und Literatur.

Lex Petrolea and International Investment Law: Law and Practice in the Persian Gulf offers readers a detailed analysis of jurisprudence on the settlement of upstream petroleum disputes between host states in the Persian Gulf and foreign investors. Dr Nima Mersadi Tabari considers the historical, political, and socio-economic roots of the existing frameworks and levels of protection offered to foreign investors. With particular focus on petroleum-related disputes, he initially delivers a comprehensive survey of the jurisprudence of international investment law and investment treaty arbitration. Following on from this, in three dedicated chapters, the author provides in-depth analysis of the legal regimes governing the matter in the major producers of the region: Saudi Arabia, Iraq, and Iran. A key resource for all professionals working on legal issues arising from foreign direct investments in natural resources, this book draws a detailed picture of the legal regime governing the upstream sector in the most important geographical region for the international oil and gas sector.

This book is the first to draw together the numerous different regulations which affect how commodities are traded in the EU. Having long been a largely deregulated industry, intense scrutiny in the aftermath of the global financial crisis has left commodities trading subject to a raft of harmonized regulations, many of which have yet to be finalized. Regulation of both the physical and the financial commodities markets is undergoing significant change and participants and their advisors are struggling to understand the changes in each jurisdiction as well as the cross-border implications. The book pulls together these various pieces of EU legislation and examines how they influence the way that commodities are traded in Europe. It also provides coverage of regulation at domestic level in key jurisdictions active in the marketplace, namely the UK, USA, Switzerland, and Singapore. Divided into eight sections, the book includes analysis of the commodities trading houses (including their motives and methods), the main trading venues, trading practices, and potential illicit practices and market abuses. Each section has a detailed transnational component in which the position in each specific jurisdiction is explained, drawing parallels and setting out the differences between these countries. This extremely topical publication is an essential reference work for all those advising on or researching the increasingly complex and globalized field of commodities trading.

Mirroring the long-established structure of the financial industry, EU financial regulation as we know it today approaches banking, insurance and investment services separately and often divergently. In recent decades however, the clear separation between financial sectors has gradually evaporated, as business lines have converged across sectors and FinTech solutions have emerged which do not fit traditional sector boundaries. As the contours of the traditional tripartition in the financial industry have faded, the diverging regulatory and supervisory treatment of these sectors has become increasingly at odds with economic reality. This book brings together insights developed by distinguished researchers and industry professionals in a series of articles analysing the main areas of EU financial regulation from a cross-sectoral perspective. For each specific research theme - including prudential regulation, corporate governance and conduct of business rules - the similarities, as well as gaps, overlaps and unjustifiable differences between banking, securities and insurance regulation, are clearly presented and discussed. This innovative research approach is aimed at informing lawmakers and policymakers on potential improvements to EU financial regulation whilst also supporting legal and compliance professionals applying the current framework or looking to streamline compliance processes.

The spate of mis-selling episodes that have plagued the financial services industries in recent years has caused widespread detriment to investors. Notwithstanding numerous regulatory interventions, curtailing the incidence of poor investment advice remains a challenge for regulators, particularly because these measures are taken in a 'fire-fighting' fashion without adequate consideration being given to the root causes of mis-selling. Against this backdrop, this book focuses on the sale of complex investment products to corporate retail investors by drawing upon the widespread mis-selling of interest rate hedging products (IRHP) in the UK and beyond. It brings to the fore the relatively understudied field concerning the different degrees of investor protection mechanisms applicable to individual retail investors - as opposed to corporate retail investors - by taking stock of past regulatory reforms and forthcoming regulatory initiatives as well as, more importantly, the conclusions reached by the judiciary in IRHP mis-selling claims. The conclusions are particularly interesting: corporate retail investors are in a vulnerable position when compared to individual retail investors. The former are exposed to a heightened risk of mis-selling, meaning that regulatory intervention should be targeted accordingly. The recommendations made as a result of these findings are further supported by insights emerging from behavioural law and economic theories. This book is aimed at researchers, lawyers and students with an interest in the financial regulation field who are keen to explore potential regulatory reforms to the investment services regime that address the root causes of mis-selling, and restore a level playing field amongst all retail investors.

The climate surrounding foreign investment law is one of controversy and change, and with implications for human rights and environmental protection, foreign investment law has gained widespread public attention and visibility. This fully updated edition of Sornarajah's classic text offers thought-provoking analysis of the law in historical, political and economic contexts, capturing leading trends and charting the possible course of future developments. It takes into account the newer types of treaties that establish a regulatory space for states and moves away from inflexible investment protection, exploring the newly created defences relating to environment, human rights, indigenous rights and other areas ending the fragmentation of the law. It looks at the current debates on legitimacy of the system and current efforts at reform. Suitable for postgraduate and undergraduate students, The International Law on Foreign Investment is essential reading for anyone specialising in the law of foreign investments.