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2010

Banking and Finance Law

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Articles 1 - 30 of 269

Full-Text Articles in Law

Iranian Islamic Banking, Ehsan Zarrokh Oct 2012

Iranian Islamic Banking, Ehsan Zarrokh

Ehsan zarrokh

Islamic finance is an old concept but a very young discipline in the academic sense. It lacks the required extent and level of theories and models needed for expansion and implementation of the framework provided by Islam. In these circumstances, unawareness and confusion exist as to the form of the Islamic financial system and instruments. The main difference between the present economic system and the Islamic economic system is that the later is based on keeping in view certain social objectives for the benefit of human beings and society. Islam, through its various principles, guides human life and ensures free ...


Regulating Compensation, A. Christine Hurt Dec 2010

Regulating Compensation, A. Christine Hurt

Faculty Scholarship

No abstract provided.


Third Party Access And Refusal To Deal In European Energy Networks: How Sector Regulation And Competition Law Meet Each Other, Michael Diathesopoulos Dec 2010

Third Party Access And Refusal To Deal In European Energy Networks: How Sector Regulation And Competition Law Meet Each Other, Michael Diathesopoulos

Michael Diathesopoulos

In this paper, we will analyse the issue of concurrence between competition and sector rules and the relation between parallel concepts within the two different legal frameworks. We will firstly examine Third Party Access in relation to essential facilities doctrine and refusal of access and we will identify the common points and objectives of these concepts and the extent to which they provide a context to each other’s implementation. Second, we will focus on how Commission uses sector regulation and objectives as a context within the process of implementation of competition law in the energy sector and third, we ...


Autonomy In Setting Appropriate Level Of Protection Under The Wto Law: Rhetoric Or Reality?, Michael Du Dec 2010

Autonomy In Setting Appropriate Level Of Protection Under The Wto Law: Rhetoric Or Reality?, Michael Du

Ming Du

In the World Trade Organization (WTO) jurisprudence, the Appellate Body (AB) has repeatedly affirmed that WTO Members have the prerogative right in setting any level of protection that they deem appropriate (ALOP). At the same time, WTO Agreements provide for disciplines that a WTO Member must respect when it selects regulatory measures to fulfill its ALOP. Thus, a WTO Member’s autonomy in setting its ALOP, on the one hand, and the full force of other disciplines, on the other hand, are in a constant state of tension. Then, exactly how does a panel balance a Member’s right of ...


Providing Legal Information And Advice To Older People: As Much A Question Of Accessibility As Affordability, Subhajit Basu, Joe Duffy Dec 2010

Providing Legal Information And Advice To Older People: As Much A Question Of Accessibility As Affordability, Subhajit Basu, Joe Duffy

Subhajit Basu

No continent has as high a proportion of older people as Europe. [3] In this paper, we report the findings of an empirical project examining the legal advice needs of older people. An important element of the project also sought information about the capacity of the internet for meeting the legal advice needs of older people. Overall our findings broadly indicate considerable failings in legal information provision for older people from more traditional advice sources. Whilst we have uncovered some examples of individualised good practice,our research in the main revealed an alarming sense of fear, mistrust, uncertainty and ambivalence ...


Insulating Agencies: Avoiding Capture Through Institutional Design, Rachel E. Barkow Dec 2010

Insulating Agencies: Avoiding Capture Through Institutional Design, Rachel E. Barkow

New York University Public Law and Legal Theory Working Papers

So-called independent agencies are created for a reason, and often that reason is a concern with agency capture. Agency designers hope that a more insulated agency will better protect the general public interest against inter¬est group pressure. But the conventional approach to independent agencies in administrative law largely ignores why agencies are insulated. Instead, discussions about independent agencies in administrative law have focused on three features that have defined independent agencies: heads who are removable for cause by the President, an exemption from having to submit regulations to the President’s Office of Information and Regulatory Affairs for cost-benefit ...


A Contractual Approach To Shareholder Oppression Law, Benjamin Means Dec 2010

A Contractual Approach To Shareholder Oppression Law, Benjamin Means

Faculty Publications

According to standard law and economics, minority shareholders in closely held corporations must bargain against opportunism by controlling shareholders before investing. Put simply, you made your bed, now you must lie in it. Yet most courts offer a remedy for shareholder oppression, often premised on the notion that controlling shareholders owe fiduciary duties to the minority or must honor the minority's reasonable expectations. Thus, law and economics, the dominant mode of corporate law scholarship, appears irreconcilably opposed to minority shareholder protection, a defining feature of the existing law of close corporations.

This Article contends that a more nuanced theory ...


Secret Bancaire Et Entraide Internationale En Matière Fiscale: Le Fait Du Prince, Fabien Liegeois Nov 2010

Secret Bancaire Et Entraide Internationale En Matière Fiscale: Le Fait Du Prince, Fabien Liegeois

Fabien LIEGEOIS

No abstract provided.


Of Currency Wars And Other Demons: Exchange Controls And The Governance Of State-Capitalist Policies Within Democratic Transition, Bruno Meyerhof Salama Nov 2010

Of Currency Wars And Other Demons: Exchange Controls And The Governance Of State-Capitalist Policies Within Democratic Transition, Bruno Meyerhof Salama

Bruno Meyerhof Salama

No abstract provided.


Uso Social Del Suelo Ejidal Y Comunal Para El Desarrollo Equilibrado De Las Áreas Urbanas Del Estado De Puebla, Bruno L. Costantini García Nov 2010

Uso Social Del Suelo Ejidal Y Comunal Para El Desarrollo Equilibrado De Las Áreas Urbanas Del Estado De Puebla, Bruno L. Costantini García

Bruno L. Costantini García

De origen, difundir los diversos esquemas permitidos por la Ley para posibilitar la realización de proyectos con fines inmobiliarios, a efecto de que los núcleos agrarios y sus integrantes se beneficien equitativamente de la urbanización de sus tierras, coadyuvando con ello al desarrollo urbano planificado y ordenado de los centros de población del Estado de Puebla; como consecuencia, impulsar el desarrollo habitacional equilibrado de éste. Eliminar el circulo.- “necesidad de tierra – asentamiento irregular – solución de conflicto”, mediante la planeación socioeconómico de los núcleos agrarios ejidales y comunales, a fin de diseñar un mecanismo eficaz que satisfaga las necesidades de los ...


Managerial Entrenchment And Shareholder Wealth Revisited: Theory And Evidence From A Recessionary Financial Market, Jay B. Kesten Nov 2010

Managerial Entrenchment And Shareholder Wealth Revisited: Theory And Evidence From A Recessionary Financial Market, Jay B. Kesten

BYU Law Review

No abstract provided.


¿Volviendo Al Control De Precios?, Diferenciando Entre Regulación Y Supervisión: Un Enfoque Comparativo Con La Libre Competencia, John Pineda Galarza, Héctor Figari Costa Oct 2010

¿Volviendo Al Control De Precios?, Diferenciando Entre Regulación Y Supervisión: Un Enfoque Comparativo Con La Libre Competencia, John Pineda Galarza, Héctor Figari Costa

John Pineda Galarza

El presente trabajo busca analizar el fundamento teórico de cuando se puede fijar precios y aplicarlo al mercado de las Administradoras de Fondos de Pensiones (AFP), a fin de determinar la necesidad de regular las comisiones que cobran estas por concepto de administración de fondos de los afiliados. El análisis del mismo se desarrollará bajo la óptica de las normas del Libre Mercado y Libre Competencia, identificando y diferenciando entre supervisión y regulación


Exchange Of Tax Information: The End Of Banking Secrecy In Switzerland And Singapore?, Jean-Rodolphe Fiechter Oct 2010

Exchange Of Tax Information: The End Of Banking Secrecy In Switzerland And Singapore?, Jean-Rodolphe Fiechter

Jean-Rodolphe W. Fiechter

At their London Summit in April 2009, the G20 Leaders proudly declared: “The era of banking secrecy is over.” The scope of this paper is to examine whether this statement is true. Is exchange of information really the panacea against tax evasion? Did it eradicate the banking secrecy cultivated for centuries by Switzerland and later also by Singapore or does the protection of privacy still have a role to play in the new global order? In the first chapter, I will depict the origins of the banking secrecy and its development in recent years until the breakthrough of the OECD ...


Llm Cyberlaw: Information Technology, Law And Society, Subhajit Basu Oct 2010

Llm Cyberlaw: Information Technology, Law And Society, Subhajit Basu

Subhajit Basu

LLM in Cyberlaw: information technology, law and society enables you to develop knowledge and skills in relation to the legal rules regulating cyberlaw activity in the UK and Europe, and at a global level.


Foreign Investment Catalogues And Investment Environment In China, Tao Liang Oct 2010

Foreign Investment Catalogues And Investment Environment In China, Tao Liang

Tao (Tim) LIANG

On 23 December 2008, the National Development and Reform Commission (“NDRC”) and Ministry of Commerce (“MOFCOM”) of People’s Republic of China jointly issued Catalogue of Foreign Investment Advantageous Industries in Central and Western China (“Central and Western Catalogue”), which became effective on 1 January 2009. This marks the second revision to the Central and Western Catalogue since its first promulgation in 2000 (the previous revision occurred in 2004). The Central and Western Catalogue was issued to supplement the Foreign Investment Industrial Guidance Catalogue (“Guidance Catalogue”) which was jointly revised by NDRC and MOFCOM on 31 October 2007 and became ...


Compliance Requirements For Chinese Automobile Market Players, Tao Liang Oct 2010

Compliance Requirements For Chinese Automobile Market Players, Tao Liang

Tao (Tim) LIANG

Since November 2009, China has passed the United States to become the biggest automobile market in the world. At the same time, China has also surpassed Japan as the largest automobile manufacturer around the world with an annual manufacture capacity of 13.759 million automobiles. In consideration of the importance of the Chinese automobile market, several international automobile giants, including Volkswagen, Toyota, GM, Chrysler, Ford and so on, are injecting more and more capitals, technology and other kind of resources into Chinese market in order to seize a bigger market share within China to leverage their business performance on a ...


Turning A Blind Eye: Wall Street Finance Of Predatory Lending, Kathleen C. Engel, Patricia A. Mccoy Oct 2010

Turning A Blind Eye: Wall Street Finance Of Predatory Lending, Kathleen C. Engel, Patricia A. Mccoy

kathleen c engel

Today, Wall Street finances up to eighty percent of subprime home loans through securitization. The subprime sector, which is designed for borrowers with blemished credit, has been dogged by predatory lending charges, many of which have been substantiated. As subprime securitization has grown, so have charges that securitization turns a blind eye to financing abusive loans. In this paper, we examine why secondary market discipline has failed to halt the securitization of predatory loans. When investors buy securities backed by predatory loans, they face a classic lemons problem in the form of credit risk, prepayment risk, and litigation risk. Securitization ...


The Cra Implications Of Predatory Lending, Kathleen Engel, Patricia Mccoy Oct 2010

The Cra Implications Of Predatory Lending, Kathleen Engel, Patricia Mccoy

kathleen c engel

Traditionally, policymakers, communities, and industry have regarded the Community Reinvestment Act ("CRA") as a positive mandate for banks and thrifts to do good by increasing investment in low- and moderate-income ("LMI") neighborhoods. When Congress enacted CRA, it was inconceivable that LMI neighborhoods might eventually receive too much credit in the form of abusive mortgages. However, by the late 1990s, predatory mortgages- exploitative high-cost loans to gullible borrowers-were ravaging the inner cities. We address the question: given the surge in predatory lending, how should CRA respond? CRA and federal subsidies to regulated lenders can create perverse incentives for lenders to engage ...


Sovereignty, Accountability, And The Wealth Fund Governance Conundrum, Anna Gelpern Oct 2010

Sovereignty, Accountability, And The Wealth Fund Governance Conundrum, Anna Gelpern

Anna Gelpern

Sovereign wealth funds – state-controlled transnational portfolio investment vehicles – began as an externally imposed category in search of a definition. SWFs from different countries had little in common and no particular desire to collaborate. But SWFs as a group implicated the triple challenge of securing cooperation between deficit and surplus states, designing a legal framework for global capital flows, and integrating state actors in the transnational marketplace. This Article describes how an apparently artificial grouping of investors, made salient by the historical and political circumstances of their host states in the mid-2000s, became a vehicle for addressing some of the hardest ...


Wal-Mart Bank In Mexico: Money To The Masses And The Home-Host Hole, Anna Gelpern Oct 2010

Wal-Mart Bank In Mexico: Money To The Masses And The Home-Host Hole, Anna Gelpern

Anna Gelpern

In November 2006 Wal-Mart's Mexican subsidiary received approval to open a bank. The application faced little opposition in Mexico, unlike the company's failed effort to start a bank in the United States. This was partly because in Mexico, Wal-Mart's entry was generally regarded as increasing competition in a historically concentrated banking sector. With over three-quarters of all Mexicans unbanked, the authorities also looked to Wal-Mart to reach the underserved. Along with the promise, Wal-Mart's entry presents a transnational regulatory dilemma with implications beyond Wal-Mart and Mexico. Because it is Wal-Mart's only banking venture, the new ...


Domestic Bonds, Credit Derivatives, And The Next Transformation Of Sovereign Debt, Anna Gelpern Oct 2010

Domestic Bonds, Credit Derivatives, And The Next Transformation Of Sovereign Debt, Anna Gelpern

Anna Gelpern

Not long ago, financial markets in most poor and middle-income countries were shallow to nonexistent, and closed to foreigners. Governments often had to rely on risky borrowing abroad; the private sector had even fewer options. But between 1995 and 2005, domestic debt in the emerging markets grew from $1 trillion to $4 trillion. In Mexico, domestic debt went from just over 20% of the total government debt stock in 1995 to nearly 80% in 2007. Foreign and local investors are buying. Over the same period, derivative contracts to transfer emerging market credit risk surpassed the market capitalization of the benchmark ...


Protocolo De Investigación “La Flexibilidad En El Procedimiento De Licitación Pública Federal De México”, Norma Pimentel Oct 2010

Protocolo De Investigación “La Flexibilidad En El Procedimiento De Licitación Pública Federal De México”, Norma Pimentel

Norma E Pimentel

No abstract provided.


The New Financial Deal: Understanding The Dodd-Frank Act And Its (Unintended) Consequences, David A. Skeel Jr. Oct 2010

The New Financial Deal: Understanding The Dodd-Frank Act And Its (Unintended) Consequences, David A. Skeel Jr.

Faculty Scholarship

Contrary to rumors that the Dodd-Frank Act is an incoherent mess, its 2,319 pages have two very clear objectives: limiting the risk of the shadow banking system by more carefully regulating derivatives and large financial institutions; and limiting the damage caused by a financial institution’s failure. The new legislation also has a theme: government partnership with the largest Wall Street banks. The vision emerged almost by accident from the Bear Stearns and AIG bailouts of 2008 and the commandeering of the bankruptcy process to rescue Chrysler and GM in 2009. Its implications for derivatives regulation could prove beneficial ...


Debt As Venture Capital, Darian M. Ibrahim Oct 2010

Debt As Venture Capital, Darian M. Ibrahim

Faculty Publications

Venture debt, or loans to rapid-growth start-ups, is a puzzle. How are start-ups with no track records, positive cash flows, tangible collateral, or personal guarantees from entrepreneurs able to attract billions of dollars in loans each year? And why do start-ups take on debt rather than rely exclusively on equity investments from angel investors and venture capitalists (VCs), as well-known capital structure theories from corporate finance would seem to predict in this context? Using hand-collected interview data and theoretical contributions from finance, economics, and law, this Article solves the puzzle of venture debt by revealing that a start-up’s VC ...


La Prescripción Adquisitiva De Dominio, David García Sep 2010

La Prescripción Adquisitiva De Dominio, David García

David García

No abstract provided.


Armed And Dangerous: The Crime Of Mortgage Fraud And What Congress Must Do To Stop It, Gabriel Zitrin Sep 2010

Armed And Dangerous: The Crime Of Mortgage Fraud And What Congress Must Do To Stop It, Gabriel Zitrin

Legislation and Policy Brief

Instead, it will simply argue that while the relevant monetary policymakers continue far too slowly in the pursuit of mortgage securities reform, lawmakers whose purview includes the housing sector should use this opportunity to pursue a two-part strategy of aggressively combating fraud in the terms and sales of individual mortgages and taking bold measures to ensure that not simply embattled mortgage-holders but the victims of fraudulent lending behavior can achieve financial sustainability, even as they keep ownership of their homes.


Public Financing's Last Breaths, Kellen Clemons Sep 2010

Public Financing's Last Breaths, Kellen Clemons

Legislation and Policy Brief

After this peculiar and unique election cycle, the public financing laws will have to be redeveloped in order to have any bearing on future elections. Without some change to the rules, candidates will continue to opt out and use the Internet and grassroots initiatives to out-raise one another, to the possible disadvantage of the goals of the public finance system. In essence, this election cycle has seen politics destroy the current public financing system. Through the advisory opinions of the Federal Election Commission and the decisions of the major candidates to opt out of public financing, the role of the ...


Where Evil Dare!, Subhajit Basu Sep 2010

Where Evil Dare!, Subhajit Basu

Subhajit Basu

This article will critically argue that the regulation of behaviour in cyberspace is not simply the imposition through a top down system from regulator to regulated, a number of actors and elements come into play. In doing so, it will analyse the boundaries between public and private law, between national and international law and between state law and self regulation, and review whether the traditional positivist methodology of law, within these boundaries offers an adequate intellectual framework in which to consider the nature and form of regulation in cyberspace. Cyberspace is not a static regulatory universe into which an intervention ...


L’Ordonnance Du Conseil Fédéral Relative À L’Assistance Administrative D’Après Les Conventions Contre Les Doubles Impositions, Fabien Liegeois, Anath Guggenheim Sep 2010

L’Ordonnance Du Conseil Fédéral Relative À L’Assistance Administrative D’Après Les Conventions Contre Les Doubles Impositions, Fabien Liegeois, Anath Guggenheim

Fabien LIEGEOIS

No abstract provided.


The Challenges For Directors In Piloting Through State And Federal Standards In The Maelstrom Of Risk Management, Chief Justice E. Norman Veasey Aug 2010

The Challenges For Directors In Piloting Through State And Federal Standards In The Maelstrom Of Risk Management, Chief Justice E. Norman Veasey

Seattle University Law Review

In the 2010 Berle Center Directors’ Academy Keynote Address, Chief Justice Veasey addresses “the federal and state contexts relating to the corporate-governance focus on business risk and the expectations laid at the doorstep of directors and officers of U.S. public companies.” Specifically, Chief Justice Veasey looks “at the governance landscape through both a federal regulatory lens and a state judicial lens as it relates to risk assessment and risk management.”