Banking and Finance Law Commons^™

Introduction To The Financial System And Securities & Exchange System Reform Act In Japan, Hiroshi Naka, Akio Nakamura, Atsushi Yamashita, Scott Siegler

Washington International Law Journal

This translation of an original Japanese language work, by Hiroshi Naka and Akio Nakamura, both of the Japanese Ministry of Finance, details the reforms of Japan's financial and securities & exchange system made under the recently enacted System Reform Act. The major reforms under the Act include: (1) altering the "Glass Steagall" rule (the separation of securities business and banking business) in Japan so that banks and securities companies can engage in each other's business through their subsidiaries; (2) extending securities regulations to some new types of structured finance; (3) amending public offering provisions and providing new articles for private …

Making America Competitive, Mark J. Loewenstein

Publications

No abstract provided.

British Banks' In The Uk Capital Markets Since The Big Bang, Philip N. Hablutzel

All Faculty Scholarship

No abstract provided.

Can You Bank On It? Italy's Response To The Second Banking Directive Of The European Community, Jeffrey A. Orr

BYU Law Review

No abstract provided.

Drafting Dispute Resolution Clauses For Western Investment And Joint Ventures In Eastern Europe, Mary Theresa Kaloupek

Michigan Journal of International Law

This Note discusses issues the practitioner should consider in drafting a dispute resolution provision for a client investing in one of the newly democratizing countries. Part I will discuss arbitration law in Eastern Europe; the dispute resolution provisions in the various foreign investment laws; the applicable national law; and each nation's enforcement procedures for arbitral awards issued in other nations. Part II reviews the dispute resolution provisions in various bilateral and multilateral treaties relating to foreign investment including the Convention on the Settlement of Investment Disputes (ICSID Convention) and the informal agreements between the American Arbitration Association (AAA) and the …

Basle Committee International Capital Adequacy Standards: Analysis And Implications For The Banking Industry, Duncan E. Alford

Penn State International Law Review (1982 - 2011)

No abstract provided.

Unwelcome Imports: Racism, Sexism, And Foreign Investment, William H. Lash Iii

Michigan Journal of International Law

This article will address the problems minorities and women face from Japanese foreign direct investment. This article focuses on Japanese direct investment because the rapid rise in Japan's direct investment in the United States, combined with a record of discrimination by Japanese firms in Japan and abroad, makes Japanese investment the best example of the problems addressed in this article. However, the discriminatory attitudes described here may well be held by other foreign investors, and therefore, the legislation proposed later in this article addresses a broader problem.

The Development Of The Equal Treatment Principle In The International Debt Crisis, Carsten Thomas Ebenroth, Rüdiger Woggon

Michigan Journal of International Law

Since the outbreak of the international debt crisis at the beginning of the 1980s, debtor countries have reached a series of agreements with private creditor banks, with the aim of reducing the financial strain on the debtor countries and enabling them to service their debts. Long-term extensions of maturities are a central aspect of many of these arrangements. Included in the restructurings are all the medium- and long-term claims of the creditor banks, often short-term trade credits and interbank lines, and, in individual cases such as the restructuring of the debts of Poland, Yugoslavia, Costa Rica, and some African States, …

The Privacy Obstacle Course: Hurding Barriers To Transnational Financial Services, Joel R. Reidenberg

Faculty Scholarship

This article addresses the challenge to transnational financial services resulting from national regulation of information processing. National laws around the world seek to define fair information practices for the private sector and contain prohibitions on data transfers to foreign destinations that lack sufficient privacy protection. The effect of these laws for the financial services industry is significant because financial services depend on personal information. The article argues that the international attempts to harmonize information practice standards and the national efforts to regulate information processing encourage divergence of national standards for financial services. It argues that regulatory flexibility and customization is …

Slouching Toward Integration: International Banking Before And After 1992, Shari Siegel

Cardozo Law Review

No abstract provided.

A New Era Of Financial Futures Trading In Germany: Sweeping Changes In The Legal And Business Environment, Friedrich E.F. Hey

Northwestern Journal of International Law & Business

Trading in futures has increased dramatically in recent years. This is especially true for financial futures. The two main reasons for this phenomenon are: (1) there is a greater need for hedging against price fluctuations; and (2) financial futures trading provides speculators with the opportunity to transform favorable price developments into quick and large profits. This Article examines the recently enacted legislation governing futures trading in the Federal Republic of Germany, distinguishes the new law from the old, and analyzes the impact the new legislation will have on the functioning of the new German futures exchange.

Survey Of Banking Laws And Policies In Hong Kong And Singapore, Jagjit Kaur Meetook

BYU Law Review

No abstract provided.

Debtor State Law And Default: Enforcement Of Foreign Loan Agreements In Brazilian Courts, Brian L. Zimbler

University of Miami Inter-American Law Review

No abstract provided.

Compelling Disclosure By A Non-Party Litigant In Violation Of Foreign Bank Secrecy Laws: Recent Developments In Canada-United States Relations, Jean-Gabriel Castel

Articles & Book Chapters

The question whether Canadian or American courts should enforce their laws in a manner that respects the laws of friendly sovereign states has recently been examined by the Supreme Court of Canada and the United States Court of Appeals for the Eleventh Circuit. Their decisions will be the object of this note in the light of recent developments in Canada-United States relations in the area of legal assistance in civil and criminal matters.

Often our courts are asked to compel a person not a party to the litigation or investigation to produce documents or give evidence in Canada when to …

Nationalism As A Factor In Legislation Restricting Foreign Investment: Extractive Industries In Mexico, Ira B. Zinman

Indiana Law Journal

No abstract provided.

Foreign Investment Protection: A Reasoned Approach, Earl Snyder

Michigan Law Review

The main purpose in protecting private foreign investment is to encourage capital to move to newly developing nations in spite of serious, existing non-business risks. These risks are (1) the political risk (outright and "creeping" expropriation), (2) the transfer risk ( currency controls and inconvertibility of funds), and (3) the calamity risk (insurrection, revolution, war, etc.). But why encourage this? Why should an affluent, powerful nation seek, in effect, to transport overseas some of its affluence and power? Why--in the case of the United States-should encouragement be given to that which may, according to some, tend to tip still more …

Banking-Disclosure Of Records-The Duty Of A Bank As To Customer Information, Robert B. Wessling S.Ed.

Michigan Law Review

The purpose of this comment, therefore, is to describe the scope of the banker's duty as to customer information as best it can be discerned in light of the increasing exchange of credit information and increasing resort to such information by government agencies-particularly the Internal Revenue Service. In the process, it is hoped that attention will be drawn to the uncertainty which exists in this area, perhaps prompting action by the states or the banks themselves to clarify the scope of the duty and to encourage uniform treatment of customer information in a manner consistent with this duty.

Waiver Of Protest: A Comparative Study, Raúl Olivera Y Borges

Michigan Law Review

Parallel to the study of protest, it is pertinent to consider the nature and legal effects of exempting clauses which, while not essential, may be found in bills of exchange. Waiver of protest appears to have been introduced by the practice in France during the first third of the nineteenth century. It is generally used to moderate the consequences of non-payment, by a drawer who lacks confidence in the solvency of the drawee, or who fears that he may not be able to provide the necessary funds before maturity. The drawer can thus spare the susceptibilities of a drawee who …

Promissory Notes In The Legislations Of The Americas, Juan Octavio Díaz Lewis

Michigan Law Review

It has rightly been said that the promissory note is the Cinderella of negotiable paper. It is indeed strange that this instrument, widely used in most countries, is accorded only a few words in the legal textbooks and a few sections in the respective statutes. The purpose of the present study is not to rescue promissory notes from their present position of obscurity, but rather to present a unified classification of the specific provisions relating thereto, which are in force at the present time in the legislations of the American continent.

Acceptance By Intervention In Bills Of Exchange, Salvador Ltriago

Michigan Law Review

Intervention is an act whereby a person becomes a party to a negotiable instrument, whether by accepting the bill or by paying the sum indicated thereon, in order to relieve one of the obligors on the bill from the action of recourse that the holder could assert against him in consequence of default of acceptance or payment by the drawee.

The complexity of the material to be discussed renders it necessary, in order to clarify the development of the exposition, for us to advance several concepts, which will later be considered more fully at the proper places.

Capacity Under The Negotiable Instruments Laws Of The Americas: A Comparative Study, Luis M. Ramirez B.

Michigan Law Review

Closely related to the legal rules that regulate the different aspects and effects of endorsement is the question of capacity to endorse bills of exchange. This forms part of negotiatory capacity in general, which, in a broad sense, may be defined as the faculty of a person to acquire rights and to assume obligations on negotiable instruments.

Foreign Exchange Restrictions And Public Policy In The Conflict Of Laws: Part Ii, Evsey S. Rashba

Michigan Law Review

Political Laws have been the subject of a much disputed doctrine. It has been stated by Dicey, and by other authoritative writers in various countries, that a court has no jurisdiction to entertain an action for the enforcement of a "political law" of a foreign state. The term "political law" is not limited to the field of public law. It is, of course, only exceptionally that rules governing the relations between a state and its citizens are given extraterritorial effect. The doctrine goes further. It holds that rules which are technically a part of private law, but which are designed …

Basic Monetary Conceptions In Law, Arthur Nussbaum

Michigan Law Review

While in various periods of American legal history American courts have been confronted with problems of a monetary character, the importance and multiplicity of these questions have never been more strongly felt than within the last few years, and there is certainly no indication that this situation will change in the near future. The jural difficulties arising from monetary troubles are unusual, not only because of their financial and social implications, but also because of their theoretical intricacies. No wonder, therefore, that arguments advanced by courts in cases of a monetary nature are very often highly unsatisfactory. Again and again, …

Book Reviews

Michigan Law Review

Multiple book reviews by various authors.

Garnishment-Foreign-Double Liability

Michigan Law Review

Plaintiff, a resident of New York, obtained a judgment in Connecticut against El Saieh, a resident of Haiti, the court in that action obtaining jurisdiction by garnishment of a debt owed El Saieh by defendant, a Connecticut corporation, which was served with garnishment process, and admitted an obligation to El Saieh based on a policy of fire insurance issued through its agency in Haiti on a stock of goods located there. Plaintiff then sought to enforce the judgment against the defendant garnishee, which set up a defense of double liability, contending that under the laws of Haiti it was absolutely …

Book Reviews

Michigan Law Review

A collection of book reviews by multiple authors.

The New Colombian Law Of Bills And Notes

Michigan Law Review

The collection of "Laws Presented to the Government of Colombia by the Commission of American Financial Experts, and an Exposition of Motives by the Latter" (Bogota, 1923, Casa Editorial de Cromos; with an introduction by Dr. Cesar Julio Rodriguez), states by way of introduction that Law 60 of 1922 authorizes the government to contract abroad with five experts in public administration to come to Colombia and assist in the preparation of bills for laws or decrees for the reorganization of the national fiscal system. In accordance with this law the Colombian Minister at Washington, Dr. Enrique Olaya Herrera, engaged the …

"Current Funds" As "Money" In Commercial Paper

Michigan Law Review

By the Uniform Negotiable Instruments Law, §1 (2), it is provided that an instrument to be negotiable "must contain an unconditional promise or order to pay a sum certain in money"; and by Section 6 (5) it is declared that "the validity and negotiable character of an instrument are not affected by the fact that * * * [it] designates a particular kind of current money in which payment is to be made." The Illinois statute inserts before the word "designates" the following: "Is payable in currency or current funds, or." There is nothing in the language of the statute …