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Banking and Finance Law

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Northwestern Pritzker School of Law

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United Kingdom

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Full-Text Articles in Law

Auditing Overseas: How The United States Can Learn From Recent Financial Audit Reform In The United Kingdom, Daniel Damitio Aug 2023

Auditing Overseas: How The United States Can Learn From Recent Financial Audit Reform In The United Kingdom, Daniel Damitio

Northwestern University Law Review

Financial auditing is one of the cornerstones of an effective capital market structure. When performed correctly, an independent financial audit provides investors with the security they need to effectively transact based on company disclosures. When this system fails, however, the results for investors and the economy as a whole can be devastating. In recognition of this danger, the market for financial auditing in the United States is regulated by a number of governmental and nongovernmental bodies charged with maintaining its health and effectiveness. But stakeholders within the U.S. market and government have criticized these regulators for failing to adequately respond …


Contingent Capital In European Union Bank Restructuring, Christoph K. Henkel, Wulf A. Kaal Jan 2012

Contingent Capital In European Union Bank Restructuring, Christoph K. Henkel, Wulf A. Kaal

Northwestern Journal of International Law & Business

The uncoordinated reorganization and resolution of Systemically Important Financial Institutions in different countries pose many challenges. Contingent capital provides a viable alternative for the efficient restructuring and resolution of failing financial institutions. Contingent Capital provides a mechanism for internalizing banks’ failure costs and helps return distressed financial institutions to solvency. This article offers a comparative perspective on bank resolution and restructuring in the European Union, Switzerland, the United Kingdom and Germany and shows that Contingent Capital could play a substantial role in bank restructuring.