Expansion And Diversification Of Securitization Yearbook 2007

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Expansion and Diversification of Securitization Yearbook 2007

Author : Jan Job de Vries Robbé
Publisher :
ISBN 13 : 9789041126610
Total Pages : 0 pages
Book Rating : 4.1/5 (266 download)

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Book Synopsis Expansion and Diversification of Securitization Yearbook 2007 by : Jan Job de Vries Robbé

Download or read book Expansion and Diversification of Securitization Yearbook 2007 written by Jan Job de Vries Robbé and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributions in this volume elucidate both ‘synthetic securitization’ (which involves the investors in exposure-based securities to particular risks in exchange for a fee) and conventional securitization (issuance of securities for the primary purpose of raising funds for the originator or owner of the assets being securitized). The various contributions illustrate how the structures employed in securitizations are readily capable of being applied to a wide range of income-generating assets, including such innovative asset classes as the following: •commercial mortgages •student rents •intellectual property rights •carbon emission allowances •life insurance policies •project and infrastructure loans •microfinance loans •sovereign aid grants •non-performing loans •loans to finance corporate takeovers •tax receivables and other public sector assets In addition, this volume covers the emergence of new markets for securitization in Asia, Latin America, Islamic countries, and South Africa, as well as major developments in the accounting treatment of securitizations and evolving judicial attitudes to the underlying sale and credit derivative components of securitizations.

Expansion and Diversification of Securitization Yearbook 2007

Author : Jan Job de Vries Robbé
Publisher :
ISBN 13 : 9789041126610
Total Pages : 476 pages
Book Rating : 4.1/5 (266 download)

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Book Synopsis Expansion and Diversification of Securitization Yearbook 2007 by : Jan Job de Vries Robbé

Download or read book Expansion and Diversification of Securitization Yearbook 2007 written by Jan Job de Vries Robbé and published by . This book was released on 2008 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributions in this volume elucidate both ‘synthetic securitization’ (which involves the investors in exposure-based securities to particular risks in exchange for a fee) and conventional securitization (issuance of securities for the primary purpose of raising funds for the originator or owner of the assets being securitized). The various contributions illustrate how the structures employed in securitizations are readily capable of being applied to a wide range of income-generating assets, including such innovative asset classes as the following: •commercial mortgages •student rents •intellectual property rights •carbon emission allowances •life insurance policies •project and infrastructure loans •microfinance loans •sovereign aid grants •non-performing loans •loans to finance corporate takeovers •tax receivables and other public sector assets In addition, this volume covers the emergence of new markets for securitization in Asia, Latin America, Islamic countries, and South Africa, as well as major developments in the accounting treatment of securitizations and evolving judicial attitudes to the underlying sale and credit derivative components of securitizations.

Securitization Law and Practice

Author : Jan Job de Vries Robbé
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041127151
Total Pages : 521 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Securitization Law and Practice by : Jan Job de Vries Robbé

Download or read book Securitization Law and Practice written by Jan Job de Vries Robbé and published by Kluwer Law International B.V.. This book was released on 2008-01-01 with total page 521 pages. Available in PDF, EPUB and Kindle. Book excerpt: Securitization--once a fairly straightforward means of offering collateral for investment--has mushroomed into a massively complex area of financial practice. The central role occupied by such risk-distributing products as collateral debt obligations (CDOs), credit default swaps (CDSs), collateral loan obligations (CLOs), and credit derivatives has given rise to one of the most crucial inquiries of our era: Is the financial collapse that threatens the world financial system due merely to rogue traders? Or is there something in the derivative idea itself that spells inevitable disaster? Most important, can we isolate the truly productive aspects of securitization and learn to recognise pitfalls in advance? As always in such ideational minefields, it is the legal practitioners who are expected to provide guidance to distressed investors and asset dealers. Hence this vital new book. Written from a distinctly practical point of view by Jan Job de Vries Robb� with contributions from Paul Ali and Tim Coyne--all three leading authorities with extensive experience as counsel both in-house and in private practice, in addition to sterling academic credentials--the book sheds clear light on every aspect of today's securitization techniques, including welcome guidance on the following: ; keeping track of exposure to the CDO market; and evaluating such emerging asset classes as commodity risk, microfinance, and project finance risk. In the course of the analysis the book proceeds from the relevant framework and guiding legal principles, through key risks and building blocks in securitization transactions, to the various product classes and sub-classes and their differences and common denominators. Non-credit risk and niche products (such as fund and insurance securitization) are also covered. The final chapters are devoted to the applicable rules as laid down in Basel II and International Financial Reporting Standards.

Bail-In and Total Loss-Absorbing Capacity (TLAC)

Author : Yves Mauchle
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041190252
Total Pages : 496 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Bail-In and Total Loss-Absorbing Capacity (TLAC) by : Yves Mauchle

Download or read book Bail-In and Total Loss-Absorbing Capacity (TLAC) written by Yves Mauchle and published by Kluwer Law International B.V.. This book was released on 2016-06-01 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: As opposed to a bank bailout, a bail-in occurs when creditors are forced to bear some of the burden of bank failure. The principal aim of this restructuring tool is to eliminate some of the risk for taxpayers. Several jurisdictions, including Switzerland and the European Union (EU), have adopted legal provisions regarding the bail-in, but until this, book literature on its implementation has been scarce. Offering a detailed and comparative analysis of EU and Swiss law relating to bail-ins and their economic impact, this is the first book to provide in-depth coverage of this new method of dealing with the failure of systemically important banks. In its contextualisation and analysis of the bail-in resolution tool, the book identifies and discusses the legal and economic issues that arise, including such aspects as the following: – the legal and economic properties of bail-in capital; ? the regulatory standard on total loss-absorbing capacity (TLAC) issued by the Financial Stability Board (FSB); ? the scope and sequence of liabilities subjected to bail-in; ? the legal position of stakeholders affected by a bail-in; ? strategies and procedures for the implementation of a bail-in; ? the limited circumstances under which government rescues should be available; and ? cross-jurisdictional issues and aspects of international cooperation. As well as case studies and analyses of legal issues with particular reference to Swiss law and the European Bank Resolution and Recovery Directive (2014/59/EU), the author applies economic concepts to the analysis of the law. International developments, in particular standards issued by leading regulatory bodies, are also covered. This book will be welcomed by legal practitioners working in banks and in banking regulation and by policymakers seeking information on the practical issues involved. As a detailed analysis of a new and highly significant development in banking law, it will also be of great interest to academics.

Money, Morality and Law

Author : Gerald Nels Olson
Publisher : Kluwer Law International B.V.
ISBN 13 : 9403509805
Total Pages : 1052 pages
Book Rating : 4.4/5 (35 download)

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Book Synopsis Money, Morality and Law by : Gerald Nels Olson

Download or read book Money, Morality and Law written by Gerald Nels Olson and published by Kluwer Law International B.V.. This book was released on 2019-07-16 with total page 1052 pages. Available in PDF, EPUB and Kindle. Book excerpt: Standing apart from the swollen stream of writing dealing with financial crises, this much-needed book makes a legal case for enforcement of legal accountability for financial crises and for providing justice for the inestimable and untold human suffering caused by Washington and Wall Street. The extraordinarily detailed analysis comes with the authority of a widely experienced and internationally respected banking and finance lawyer. The book’s driving forces may be summarized as follows: it establishes that persistent and progressive money debasement is at the heart of all serious systemic financial crises; it establishes that the crisis in 2008 was not only simply immoral or wrong but also illegal, the result of intentional violation of the foundational legal requirements of honest, safe, and sound money and banking; it establishes that Washington and Wall Street have intentionally manipulated asset values and liquidity characteristics through proliferation of ineffective banking law and regulation magnified by the rise of structured finance and shadow banking. Basing its analysis on numerous case studies and illustrations, this book enables readers to untangle the web of false narratives wrought by Washington and Wall Street to obscure and misdirect any clear understanding of how fundamental civil, legal and constitutional rights are undermined. Designed to empower readers to effect meaningful legal action against money manipulation and debasement for the benefit of financial elites, this book is essential reading for banking lawyers, bankers, securities firms, lobbyists, government regulators and supervisory institutions. It is also sure to be welcomed by academics in finance and securities law.

The Derivatives Revolution

Author : Raffaele Scalcione
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041134301
Total Pages : 458 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis The Derivatives Revolution by : Raffaele Scalcione

Download or read book The Derivatives Revolution written by Raffaele Scalcione and published by Kluwer Law International B.V.. This book was released on 2011-01-01 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is now widely recognized that an uncontrolled "derivatives revolution" triggered one of the most spectacular worst-case scenarios of modern times. This book - the most cogent legal analysis of the subject yet to appear in any language - lays bare the core role played by the failure to adequately regulate derivatives in the financial crisis of recent years. The author's insistence that derivatives must be viewed not as profit-seeking investments but as risk management tools - and his well-grounded prescriptions to ensure that they are regulated in that way - sheds clear light on the best way for companies, financial institutions, and hedge funds to move forward in their use of these useful but highly hazardous instruments. This book clearly shows how such elements as the following fit into the legal analysis of derivatives, and how proper regulation will preserve their usefulness and economic value: ; derivatives allow for the most efficient and cost-effective risk fractioning, hence risk taking, techniques ever conceived; derivatives allow for all measurable and identifiable risks that may exist in modern finance; the ability to isolate risks and insure against risk exposures is the key to the very survival of modern financial markets; risk buyers effectively take on financial exposure to various types of risk while hedgers unload unwanted exposures; derivatives allow domestic investors to acquire exposure to foreign markets without the necessity of dealing with foreign laws, foreign investments, currency exchange, or foreign fiscal regimes; derivatives increase social welfare by making it easier and less expensive to carry out many types of financial transactions; derivatives allow governments to insulate, manage, hedge or concentrate risks deriving from financial, meteorological, and even geopolitical exposure; and derivatives allow radical changes to financial and risk structure to be performed silently and rapidly. To the question: how do we ensure that a company trading derivatives is regulated effectively? this work offers a clear and convincing answer. The author's detailed recommendations for regulatory and corporate governance measures are designed to prevent excessive risk taking, the emergence of rogue traders, and ultimately the emergence of another systemic disturbance caused by chains of derivatives-related losses.

Investor Protection

Author : Hanneke Wegman
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041186115
Total Pages : 362 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Investor Protection by : Hanneke Wegman

Download or read book Investor Protection written by Hanneke Wegman and published by Kluwer Law International B.V.. This book was released on 2015-11-24 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: The expansion of the fund industry has been one of the most notable trends in the financial markets of recent years. Not only has the demand for funds among EU investors grown, but both the number and types of investment funds also continue to increase. Since investment funds available in the EU can be established both inside and outside the EU, they may be subject to different investor protection regulations, depending on where the fund is located. Accordingly, different levels of investor protection may exist between investors investing in EU funds and investors investing in non-EU funds, including US funds. This book investigates whether there is a level playing field between EU investors investing in EU funds and EU investors investing in US funds and if not, if there is a legal basis in current EU law for the EU regulator to adopt additional investor protection rules applying to investment funds. The analysis considers the basic characteristics of investment funds, how they function in practice, and how they are regulated relating to investor protection issues. Factors examined in depth include the following: – features of funds most relevant to the protection of retail investors; – operational structure, investment strategies, fee structure, and legal structure of funds; – internal control systems; – transparency and disclosure rules; – conduct of business rules; and – depositary monitoring rules. The author examines relevant EU directives and rules and the particular remit of each, as well as US law applying to investment funds that are active in the EU. Case law and relevant literature in the field is also drawn on. As an assessment of the current degree of protection applying to funds that are available to EU retail investors – as well as an up-to-date overview of regulatory requirements and procedures concerning the protection of EU investors in investment funds – this book is unsurpassed. Especially valuable is the closing discussion about whether the EU regulatory system provides for a level playing field of protection for EU retail investors, and if not which additional rules can be adopted by the EU regulator in this area. Lawyers and other professionals in all areas of law and policy concerned with investment and finance will find this book of great value.

Saudi Capital Market

Author : Bader Alkhaldi
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041183523
Total Pages : 322 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Saudi Capital Market by : Bader Alkhaldi

Download or read book Saudi Capital Market written by Bader Alkhaldi and published by Kluwer Law International B.V.. This book was released on 2016-11-24 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thriving capital market, one that not only brings investment funds into a country but also distributes profits in a transparent manner, is essential for any economy, especially a rapidly developing one such as Saudi Arabia. Already a key player on the world stage, the Kingdom is going through a major planned economic transformation and diversification. In particular, a robust and transparent capital market, with a high level of integrity and sound enforcement, is well on the way to fruition. This book is the first in English to analyse and evaluate the roles of economic planning and a capital market in Saudi Arabia’s economic modernization. In the process of examining the level of transparency and fairness in Saudi Arabia’s capital market, the author provides detailed information and analysis of such issues and topics as the following: – market disclosure rules; – insider trading laws; – gaps in enforcement; – dispute resolution; – role of securities agencies; – Saudi Arabia’s position in international organizations; and – repercussions of the 2006 Saudi stock market collapse. The author draws on a wide range of sources in both English and Arabic, and concludes with well-grounded proposals for appropriate judicial, administrative, and enforcement policies. Investors, their management and attorneys, and other advisors with an eye on trade development in the Middle East will derive great benefit from the current and detailed information in this book. Lawyers and policymakers will discover all they need to know about the Saudi capital market, its developing trends, and applicable laws.

Hedge Fund Regulation in the European Union

Author : Phoebus Athanassiou
Publisher : Kluwer Law International B.V.
ISBN 13 : 904114465X
Total Pages : 384 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Hedge Fund Regulation in the European Union by : Phoebus Athanassiou

Download or read book Hedge Fund Regulation in the European Union written by Phoebus Athanassiou and published by Kluwer Law International B.V.. This book was released on 2009-04-14 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: While hedge funds have been part and parcel of the global asset management landscape for well over fifty years, it is only relatively recently that they came to prominence as one of the fastest growing and most vigorous sub-sectors of the financial services industry. Despite their growing significance for global and European financial markets, hedge funds continue enjoying a sui generis regulatory status. The ongoing credit crisis and its lessons for the wisdom of unregulated or loosely regulated pockets of financial activity raise, with renewed urgency, the issue of deciding how long for the relative regulatory immunity of hedge funds is to be tolerated in the name of financial innovation. This well-thought-out book, the first of its kind in this particular field, examines the case for the European onshore hedge fund industry’s regulation, making concrete proposals for its normative future. Following a detailed account of the ‘established’ regulatory systems in Ireland and Luxembourg, as well as of the ‘emerging’ hedge fund jurisdictions in Italy, France, Spain and Germany, and of the regulatory treatment of hedge funds in the UK, this book examines to what extent the continuing exclusion of hedge funds from harmonized European regulation is defensible, whether their differences to traditional asset management products justify their distinct regulatory treatment and, ultimately, if their EU-wide regulation is possible and, if so, what form this should take. This book offers enormously valuable insights into all facets of the subject of the regulation of hedge funds, including: the legitimacy of the public policy interest in their activities; the conceptual underpinnings and systemic stability emphasis of a realistic hedge fund regulatory scheme; the main parameters of a workable onshore hedge fund regulatory framework; the role of investor protection and market integrity as part of a holistic hedge fund regulatory scheme; the possible use of the UCITS framework as a foundation for the EU-wide regulation of hedge funds; the MiFID’s impact on the regulatory future of the European hedge fund industry; existing cross-jurisdictional differences and similarities in the normative treatment of hedge funds within the EU; hitherto initiatives and recommendations of the Community institutions and bodies; and the need for more efficient co-operation and information-sharing arrangements amongst national supervisors for the monitoring of the cross-border risks inherent in the activities of hedge funds. As the first ever comprehensive account of the profile, main features and normative future of the contemporary global and European hedge fund markets – including a systematic inquiry into the conceptual underpinnings of hedge fund regulation and a detailed examination of the European hedge fund industry’s treatment under Community and domestic law – this book represents a major contribution to the literature on hedge funds and their regulation which, through its concrete proposals for the onshore industry’s regulation and its clear analysis of the conditions necessary for their implementation, should be of extraordinary value to policymakers, supervisors and academics alike.

Bank Recovery and Resolution

Author : Sven Schelo
Publisher : Kluwer Law International B.V.
ISBN 13 : 9403519150
Total Pages : 201 pages
Book Rating : 4.4/5 (35 download)

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Book Synopsis Bank Recovery and Resolution by : Sven Schelo

Download or read book Bank Recovery and Resolution written by Sven Schelo and published by Kluwer Law International B.V.. This book was released on 2020-10-14 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bank Recovery and Resolution Second Edition Sven Schelo Since 2008, enormous efforts have been made worldwide to draft rules to prevent a reoccurrence of the devastating financial events of that year. In the process, bank business has been laid open to intense public and government scrutiny, and regulation of banking has grown to spectacular proportions. Prominent among the measures taken is the EU Bank Recovery and Resolution Directive (BRRD), which, together with the Single Resolution Mechanism (SRM) and the Single Resolution Fund, constitutes a crucial new pillar in the European Banking Union. Practitioners searching for orientation in what can readily be perceived as a ‘jungle’ have an urgent need for a clear and systematic description and analysis of these new rules, which are sure to have a massive impact on bank business from this time on, not only in Europe but also wherever European business is to be found. The solidly grounded analysis in this important book sets the new rules under BRRD into their full context as cross-border phenomena. With its crystal-clear explanation of key provisions, procedures, and ‘triggers’, the book organises a highly complex legal system into patterns and action plans that can be applied in virtually any eventuality likely to arise in cases where bank business is of central significance. Among the topics covered are the following: – entities covered by BRRD; – exceptions under BRRD; – objective and scope of BRRD tools – bail-in, bridge bank, sale of business, asset separation; – asset quality reviews; – curing or mitigating the continuing problem of non-performing loans; – new rules as response to lack of private solutions; – banks’ requirement to provide a minimum amount of eligible liabilities; – safety buffers to protect resolution; – need to be ‘resolvable’ in a worst case; – leverage and liquidity ratios; – forced mergers; – market spillover effects of recovery planning; – group recovery planning; – effects of foreign law contracts and assets; – write-down of capital instruments; and – special problems of cross-border restructuring. The presentation is enhanced by a comparative dimension, which includes reference to United States and other national developments and a full-scale analysis of Switzerland’s regulatory response to the crisis. Given that a full seamless global system of bank recovery and resolution has not yet been found, and that major banks are global players headquartered in different jurisdictions and even different continents, this book will greatly assist in the work of practitioners who must deal with cases involving international banking under the prevailing status quo. Its usefulness to officials and academics in international banking and finance law and policy, who are working towards a global solution, is of incalculable value.

Rethinking Regulation of International Finance

Author : Uzma Ashraf Barton
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041189181
Total Pages : 280 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Rethinking Regulation of International Finance by : Uzma Ashraf Barton

Download or read book Rethinking Regulation of International Finance written by Uzma Ashraf Barton and published by Kluwer Law International B.V.. This book was released on 2016-04-24 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why have financial standards and institutions almost always failed to effectively predict and respond to real-world financial crises? The answer, this challenging book shows, is that international financial law suffers from a persistent lack of judicial or quasi-judicial enforcement mechanisms, leaving flaws in the structure of the international financial system that lead inevitably to excesses that threaten the public good of global financial stability. The author, an internationally renowned legal expert on financial and fiscal reforms, responds to the increasingly urgent call for rethinking the structure and the functioning of international financial law. Centering on the concept of enforcement – which continues to be an unresolved issue in the discipline of international financial law – the analysis describes the likely contours of hard-law regulatory reform. It weighs the pros and cons of much-talked-about regulatory and policy issues like the following and more: – policy implications from the transformation of finance from a domestic to an international concept; – new or revised supervisory and regulatory bodies with redefined mandate, jurisdictions and powers; – possibility of a treaty-based structure similar to the European Union’s integration framework; and – consolidation of crisis-prevention and crisis-management policies; The analysis takes into account instances from trade and monetary systems pertinent to the development of the discipline of international financial law. A concluding chapter explores possibilities for putting in place an asset-backed resilient financial system based on risk-sharing and empowered to legislate reform and authorized to seek compliance from its members. With its provision of unconventional alternatives for further development of international financial law to realize stable, predictable and robust international markets – including early-warning systems and fully primed crisis-prevention mechanisms – the book explores the essential link between global financial stability, effective regulation and institutional development that will engender realistic global policy solutions. It will prove to be of great importance to regulatory and legal practitioners as well as to academic and think-tank scholars.

Capital Structure and Corporate Governance

Author : Lorenzo Sasso
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041148515
Total Pages : 248 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Capital Structure and Corporate Governance by : Lorenzo Sasso

Download or read book Capital Structure and Corporate Governance written by Lorenzo Sasso and published by Kluwer Law International B.V.. This book was released on 2013-08-01 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite a clear distinction in law between equity and debt, the results of such a categorization can be misleading. The growth of financial innovation in recent decades necessitates the allocation of control and cash-flow rights in a way that diverges from the classic understanding. Some of the financial instruments issued by companies, so-called hybrid instruments, fall into a grey area between debt and equity, forcing regulators to look beyond the legal form of an instrument to its practical substance. This innovative study, by emphasizing the agency relations and the property law claims embedded in the use of such unconventional instruments, analyses and discusses the governance regulation of hybrids in a way that is primarily functional, departing from more common approaches that focus on tax advantages and internal corporate control. The author assesses the role of hybrid instruments in the modern company, unveiling the costs and benefits of issuing these securities, recognizing and categorizing the different problem fields in which hybrids play an important role, and identifying legal and contracting solutions to governance and finance problems. The full-scale analysis compares the U.K. law dealing with hybrid instruments with the corresponding law of the most relevant U.S. jurisdictions in relation to company law. The following issues, among many others, are raised: decisions under uncertainty when the risks of opportunism of the parties is very high; contract incompleteness and ex post conflicts; protection of convertible bondholders in mergers and acquisitions and in assets disposal; use of convertible bonds to reorganise and restructure a firm; timing of the conversion and the issuer’s call option; majority-minority conflict in venture capital financing; duty of loyalty; fiduciary duties to preference shareholders; and financial contract design for controlling the board’s power in exit events. Throughout, the analysis includes discussion, comparison, and evaluation of statutory provisions, existing legal standards, and strategies for protection. It is unlikely that a more thorough or informative account exists of the complex regulatory problems created by hybrid financial instruments and of the different ways in which regulatory regimes have responded to the problems they raise. Because business parties in these jurisdictions have a lot of scope and a strong incentive to contract for their rights, this book will also be of uncommon practical value to corporate counsel and financial regulators as well as to interested academics.

The EU Issuer-disclosure Regime

Author : Gaëtane Schaeken Willemaers
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041133941
Total Pages : 378 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis The EU Issuer-disclosure Regime by : Gaëtane Schaeken Willemaers

Download or read book The EU Issuer-disclosure Regime written by Gaëtane Schaeken Willemaers and published by Kluwer Law International B.V.. This book was released on 2011-01-01 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: Présentation de l'éditeur : "In an examination that is at once critical, comparative and interdisciplinary, the book discusses the stated objectives of the EU issuer-disclosure regime - principally about retail investor protection - and then goes on to identify objectives that can actually be met in practice, i.e. market efficiency and corporate governance. The author concludes by drawing concrete policy and regulatory implications, along the way covering such aspects and ramifications of the regime. In its defence of the power of market forces as regulatory means, and its clear argument that market finance should be seen at a minimum as a useful complement to bank credit and other financing sources, this important book can claim a privileged space in the debate over the role of disclosure requirements in securities regulation."

International Economic Organizations and Law

Author : Asif H. Qureshi
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041142037
Total Pages : 512 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis International Economic Organizations and Law by : Asif H. Qureshi

Download or read book International Economic Organizations and Law written by Asif H. Qureshi and published by Kluwer Law International B.V.. This book was released on 2012-04-10 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: There can be little doubt that a group of prominent and influential organizations lie at the heart of international economic law (IEL). These include the Bretton Woods institutions, regional development banks and economic organizations, and various specialized global institutions primarily active in norm generation. This volume possesses the unique distinction of presenting the perspectives – both institutional and personal – of legal counsels in some key international economic organizations regarding their work and the role of law within the framework of their organizations, with particular attention to the conditions within which they can optimally contribute to the development of IEL. This last consideration is emphasized in three ‘external’ academic perspectives that focus mainly on what the role of counsels in international economic organizations ought to be. Each first-hand perspective focuses on counsel’s involvement in such aspects of IEL as the following: providing internal advice on the law of the organization; assisting members with respect to domestic institutions and law in the economic sphere; to what extent (if any) legal counsels are normally involved in policy making for issues that are not strictly of a legal nature; intellectual contributions both to the development of international law and the dissemination and exchange of legal knowledge among various stakeholders; ethical challenges and response to possible conflicts of interests; generation of soft law economic instruments; legal issues on replenishment of resources for development funding; setting of internationally recognized standards or best practices for commercial and financial legislation; informal networks of lawyers and lawyer functions which cut across institutional and territorial boundaries; and negotiation and management of free trade agreements from a legal perspective.

Financial Regulation at the Crossroads

Author : Panagiotis Delimatsis
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041133550
Total Pages : 426 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Financial Regulation at the Crossroads by : Panagiotis Delimatsis

Download or read book Financial Regulation at the Crossroads written by Panagiotis Delimatsis and published by Kluwer Law International B.V.. This book was released on 2011-01-01 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings outstanding expertise and provides insightful perspectives from nineteen authors with diverse backgrounds, including officials from international organizations, national regulators, and commercial banking, as well as academics in law, economics, political economy, and finance. The authors not only shed light on the causes of the financial turmoil, but also present thoughtful proposals that contribute to the future policy debate, and discuss opportunities that financial services can offer in funding activities which raise standards of living through initiatives in microfinance, renewable energy, and food distribution. The contributions to this volume tackle several of the thorniest issues of financial regulation in a post-crisis environment, such as: the mechanics of contagion within the financial system and the role of liquidity; moral hazard when large financial institutions are no longer subject to the disciplinary effects of bankruptcy; bank capital requirements; management compensation; design of bank resolution schemes; a function-centric versus institution-centric regulatory approach; subsidization and compatibility of stimulus packages with EU rules on state aid; trade finance and the role of the GATS prudential carve-out; and the role of financial services in promoting human rights or combating climate change.

The Alternative Investment Fund Managers Directive

Author : Dirk Zetzsche
Publisher : Kluwer Law International B.V.
ISBN 13 : 9403509155
Total Pages : 1042 pages
Book Rating : 4.4/5 (35 download)

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Book Synopsis The Alternative Investment Fund Managers Directive by : Dirk Zetzsche

Download or read book The Alternative Investment Fund Managers Directive written by Dirk Zetzsche and published by Kluwer Law International B.V.. This book was released on 2020-09-17 with total page 1042 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the ten years since its coming into force, the Alternative Investment Fund Managers Directive (AIFMD), with almost EUR 7 trillion assets under management in its remit, has become an important piece of European regulation complementing the Undertakings for Collective Investment in Transferable Securities (UCITS) and the Markets in Financial Instruments (MiFI) frameworks. This third edition of the most comprehensive and in-depth analysis of the AIFMD and its related European investment fund legislation (including the European Venture Capital Fund Regulation, the European Social Entrepreneurship Fund Regulation, the European Long-Term Investment Fund Regulation and the European Money Market Fund Regulation among others) brings together fund industry experts, fund supervisors, consultants, lawyers and academics to discuss the content and system of the directive from every angle, including its relation not only to the UCITS and MiFI frameworks but also to pension funds, the Sustainable Finance Disclosure Regulation, the Securitization Regulation and the Cross Border Funds Distribution Directive and Regulation, as well as related pieces of tax regulation at the European level. Further, the third edition emphasizes the function of such factors in the financial services value chain as the following: the AIFMD’s approach to robo-advisors; digital asset funds; infrastructure investments in the context of real estate and sustainable investments; risk management; transparency; and impact on alternative investment strategies. Five country reports, focusing on the European Union’s five most important financial centres for alternative investment funds, deal with the potential interactions among the AIFMD and the relevant laws and regulations of France, Germany, Luxembourg, Ireland and The Netherlands. This thoroughly updated edition elaborates on potential difficulties encountered when applying the directive and provides potential solutions to the problems it raises. The book is sure to be warmly welcomed by fund lawyers and consultants, investors and their counsels, fund managers, depositaries, asset managers and administrators, as well as regulators and academics in the field.

Banking Regulation in Israel

Author : Ruth Plato-Shinar
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041167927
Total Pages : 330 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Banking Regulation in Israel by : Ruth Plato-Shinar

Download or read book Banking Regulation in Israel written by Ruth Plato-Shinar and published by Kluwer Law International B.V.. This book was released on 2016-09-15 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of the 2008 global financial crisis, many governments are seeking ways to improve their banking regulation systems in the interests of both economic health and consumer protection. Among the globally competitive countries that withstood the crisis with no significant disruption, Israel stands out, suggesting that other countries might benefit from an in-depth analysis of its banking system. This is the first book in English to provide such an analysis, emphasizing the crucial balance between prudential regulation and conduct of business regulation, which in Israel are both regulated by the same agency, unlike the ‘Twin Peaks’ model that prevails in other market-based economies. With recommendations that are highly applicable to many countries, the book examines a broad range of issues that are of current concern to the banking community worldwide. Among these issues are the following: – the architecture of financial regulation; – nationalization and privatization of banks; – conflicts of interest in the banking system resulting from universal banking; – problems of concentration and lack of competitiveness in the banking system; – the growing power of institutional investors and their entry into traditional banking activities; – mechanisms for recovery and resolution in the event of a bank failure; – new models of banking regulation, such as self-regulation and contractual regulation; and – bank consumer protection, complaint handling and redress. Even though the book focuses on Israeli banking regulation, its detailed attention to the development of a suitable supervisory model is of immeasurable international value for regulators, lawyers, bankers, academics, and business people who are in any way connected to the banking world; particularly following the 2008 crisis and its devastating effects. It is sure to be of service as many jurisdictions continue to search for optimal tools designed to prevent another such crisis.