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Articles 31 - 60 of 65
Full-Text Articles in Banking and Finance Law
Book Review - The Digital Payment Revolution: Books On Mobile, Bitcoin, And Beyond, Benjamin Geva
Book Review - The Digital Payment Revolution: Books On Mobile, Bitcoin, And Beyond, Benjamin Geva
Articles & Book Chapters
This review discusses three short books covering different aspects of the digital revolution in payments. The first is written by an anthropologist. It focuses on mobile payments, particularly in the developing world, in the broad context of money and social relationships. The second is a comparative collection of papers on legal aspects relating to Bitcoin. The third addresses the potential of digital currencies and their underlying technology, well beyond Bitcoin, to forever revolutionize the world of money and payments.
The Collecting Bank And The Fictitious Payee - The End Of The Road?, Benjamin Geva
The Collecting Bank And The Fictitious Payee - The End Of The Road?, Benjamin Geva
Articles & Book Chapters
No abstract provided.
Book Review - How The Other Half Banks: Exclusion, Exploitation And The Threat To Democracy, By Mehrsa Baradaran (Cambridge, Massachusetts, Harvard University Press, 2015), 336 Pp., $29.95, Stephanie Ben-Ishai
Book Review - How The Other Half Banks: Exclusion, Exploitation And The Threat To Democracy, By Mehrsa Baradaran (Cambridge, Massachusetts, Harvard University Press, 2015), 336 Pp., $29.95, Stephanie Ben-Ishai
Articles & Book Chapters
In her bold and timely new book, Professor Baradaran brings an American perspective, supported by detailed empirical data and historical analysis, to bear on how to solve the problem of financial exclusion. She begins by situating her analysis in the context of the important relationship between banks and governments. A social contract has existed between banks and government since the earliest days of the Republic. The government supports banks through trust-inducing insurance, bailouts, liquidity protection, and a framework that allows for the allocation of credit to the entire economy. Banks support government by operating the central machinery of the economy …
Blockchain And Payment Systems: What Are The Benefits And Costs?, Benjamin Geva, Gene Neyer
Blockchain And Payment Systems: What Are The Benefits And Costs?, Benjamin Geva, Gene Neyer
Articles & Book Chapters
No abstract provided.
The European Union’S Emerging Approach To Isds: A Review Of The Canada-Europe Ceta, Europe-Singapore Fta, And European-Vietnam Fta, Gus Van Harten
The European Union’S Emerging Approach To Isds: A Review Of The Canada-Europe Ceta, Europe-Singapore Fta, And European-Vietnam Fta, Gus Van Harten
Articles & Book Chapters
The European Union’s approach to ISDS is examined based on the available textual evidence in proposed or negotiated trade agreements. The evaluation focuses on three criteria: judicial independence, procedural fairness, and balance in the allocation of rights and responsibilities. Each criteria arises from concerns about the powerful and far-reaching arbitration mechanism at the core of ISDS and its role to decide the legality of sovereign conduct and allocate public funds to foreign investors. The main conclusions are that, in pursuing a massive expansion of ISDS in new trade agreements, the European Union has taken only partial steps on the issue …
The Order To Pay Money In Medieval Continental Europe, Benjamin Geva
The Order To Pay Money In Medieval Continental Europe, Benjamin Geva
Articles & Book Chapters
This chapter discusses the evolution of non-cash payment mechanisms in the course of the development of the medieval banking system in Europe. The chapter sets out three categories of a medieval continental financier. The first category, pawnbrokers, consisted of lenders who lent out of their capital primarily for consumption who played no role in the development of the payment system. The second category consisted of moneychangers who accepted deposits and whose practices were rooted in in the manual exchange of coins. The third category consisted of exchange bankers whose practices emerged from the exchange of money in long distance trade. …
Protecting Reasonable Expectations: Mapping The Trajectory Of The Law, Edward J. Waitzer, Douglas Sarro
Protecting Reasonable Expectations: Mapping The Trajectory Of The Law, Edward J. Waitzer, Douglas Sarro
Articles & Book Chapters
The doctrine of reasonable expectations has evolved into a powerful tool for judicial and regulatory activism and, as a result, a bellwether for the trajectory of the law. The concept has broadened — both in scope and in the range of potential claimants. Yet it has been used to achieve goals that are remarkably consistent across different areas of law: first, to require powerful actors to treat stakeholders fairly, which entails treating them with honesty and avoiding actions that would impose unnecessary or disproportionate costs on them; second, to uphold the integrity of legal or regulatory regimes by remedying actions …
The Fictitious Payee After Teva V. Bmo: Has The Pendulum Swung Back Far Enough?, Benjamin Geva
The Fictitious Payee After Teva V. Bmo: Has The Pendulum Swung Back Far Enough?, Benjamin Geva
Articles & Book Chapters
Under Section 20(5) of the Bills of Exchange Act (‘‘BEA s. 20(5)”) where on a bill of exchange ‘‘the payee is a fictitious or non-existing person, the bill may be treated as payable to bearer.” A bill of exchange includes a cheque. Where BEA s. 20(5) applies to a cheque, its effect is to reallocate forged endorsement losses from banks involved in the collection and payment of the cheque to the drawer. Quite recently, in commenting on Raza Kayani LLP v. Toronto-Dominion Bank, I highlighted the ongoing confusion in the judicial interpretation of BEA s. 20(5) (‘‘Kayani Comment”). That comment …
Book Review - Letters Of Credit: The Law And Practice Of Compliance, Benjamin Geva
Book Review - Letters Of Credit: The Law And Practice Of Compliance, Benjamin Geva
Articles & Book Chapters
Letters of Credit: The Law and Practice of Compliance, by Ebenezer Adodo, is reviewed.
Reaffirmation Of Debt In Consumer Bankruptcy In Canada, Stephanie Ben-Ishai
Reaffirmation Of Debt In Consumer Bankruptcy In Canada, Stephanie Ben-Ishai
Articles & Book Chapters
No abstract provided.
Security Interests In Bank Deposits Under Ucc Article 9: A Perspective, Benjamin Geva
Security Interests In Bank Deposits Under Ucc Article 9: A Perspective, Benjamin Geva
Articles & Book Chapters
In the course of the 19th century, the process of the characterization of the bank deposit as a loan, so as to be owned by the banker to the customer as a debt on a loan, reached in the common law its logical conclusion. The landmark case is Foley vs Hill.
Canadian Pension Funds: Investments And Role In The Capital Markets And Corporate Governance, Poonam Puri, P. M. Vasudev
Canadian Pension Funds: Investments And Role In The Capital Markets And Corporate Governance, Poonam Puri, P. M. Vasudev
Articles & Book Chapters
The article analyzes Canadian pension funds from the perspectives of corporate governance and the capital markets. It reviews their investment allocations and revenue patterns since the 1990s and identifies significant changes. The article finds that pension funds, as shareholders, have turned more activist and they wield considerable influence on corporate governance. They also contribute to shaping public policy, as evident from the relaxation of the rules on foreign investment and the removal of restrictions on communications among shareholders. The paper predicts that the role of pension funds will likely further expand in the future, given the constant rise in their …
Being Virtuous And Prosperous: Sri’S Conflicting Goals, Benjamin J. Richardson, Wes Cragg
Being Virtuous And Prosperous: Sri’S Conflicting Goals, Benjamin J. Richardson, Wes Cragg
Articles & Book Chapters
Can SRI be a means to make investors both virtuous and prosperous? This paper argues that there can be significant tensions between these goals, and that SRI (and indeed all investment) should not allow the pursuit of maximizing investment returns to prevail over an ethical agenda of promoting social and economic justice and environmental protection. The discourse on SRI has changed dramatically in recent years to the point where its capacity to promote social emancipation, sustainable development and other ethical goals is in jeopardy. Historically, SRI was a boutique sector of the market dominated by religious-based investors who sought to …
Keeping Ethical Investment Ethical: Regulatory Issues For Investing For Sustainability, Benjamin J. Richardson
Keeping Ethical Investment Ethical: Regulatory Issues For Investing For Sustainability, Benjamin J. Richardson
Articles & Book Chapters
Regulation must target the financial sector, which often funds and profits from environmentally unsustainable development. In an era of global financial markets, the financial sector has a crucial impact on the state of the environment. The long-standing movement for ethically and socially responsible investment (SRI) has recently begun to advocate environmental standards for financiers. While this movement is gaining more adherents, it has increasingly justified responsible financing as a path to be prosperous, rather than virtuous. This trend partly owes to how financial institutions view their legal responsibilities. The business case motivations that now predominantly drive SRI are not sufficient …
Overview Article, Stephanie Ben-Ishai, Tony Duggan
Overview Article, Stephanie Ben-Ishai, Tony Duggan
Articles & Book Chapters
No abstract provided.
Bank Bankruptcy In Canada: A Comparative Perspective, Stephanie Ben-Ishai
Bank Bankruptcy In Canada: A Comparative Perspective, Stephanie Ben-Ishai
Articles & Book Chapters
During the Great Depression (1930-1933), over 9,000 banks failed in the United States, while not a single bank failed in Canada. In fact, there have been relatively few instances of bank bankruptcy proceedings in Canada from 1867 to present. Approximately eleven bank bankruptcies have been referenced in the case law to date. The first bank bankruptcy appears to be the Bank of Prince Edward Island (1882). Next came the Exchange Bank of Canada (1883), [FN3] followed by the Maritime Bank (1887), the Central Bank of Canada (1887), La Banque Ville Marie (1899), the Farmers Bank of Canada (1910), the Monarch …
Payment Transactions Under The Eu Payment Services Directive: A U.S. Comparative Perspective, Benjamin Geva
Payment Transactions Under The Eu Payment Services Directive: A U.S. Comparative Perspective, Benjamin Geva
Articles & Book Chapters
This article endeavours to analyse the provisions of Title IV governing rights and obligations in relation to the provision and use of payment services. Analysis is particularly from a US comparative perspective. Attention will be given to Uniform Commercial Code ("UCC") Article 4A, which governs U.S. wire and other credit transfers as well as federal laws governing consumer retail payment systems. A broader but related objective of the article is the assessment of the contribution of Title IV to the harmonization of funds transfer and payment law, not only by comparison to the U.S., but also by reference to a …
The Medieval Hawale: The Legal Nature Of The Suftaj And Other Islamic Payment Instruments, Benjamin Geva
The Medieval Hawale: The Legal Nature Of The Suftaj And Other Islamic Payment Instruments, Benjamin Geva
Articles & Book Chapters
By the middle of the eighth century CE the Arabs established their dominion from the Atlantic Ocean to west of the Persian Gulf. In the process, they spread Islam and established Islamic law as the law of the land throughout this entire vast territory. Until the rise of the Turkish Ottoman Empire between the 13th the 16th centuries CE, that territory included North Africa (both Egypt and the Maghreb), Israel/Palestine, Lebanon, Syria, Iraq and Arabia. The era of the pre-Ottoman Arab domination of those lands roughly coincides with the Middle Ages. During that time, centres of economic and financial activity …
Regulating Payday Lenders In Canada: Drawing On American Lessons, Stephanie Ben-Ishai
Regulating Payday Lenders In Canada: Drawing On American Lessons, Stephanie Ben-Ishai
Articles & Book Chapters
No abstract provided.
Is There An Emerging Fiduciary Duty To Consider Human Rights?, Cynthia A. Williams, John M. Conley
Is There An Emerging Fiduciary Duty To Consider Human Rights?, Cynthia A. Williams, John M. Conley
Articles & Book Chapters
No abstract provided.
Of Takeovers, Foreign Investment And Human Rights: Unpacking The Noranda-Minmetals Conundrum, Aaron A. Dhir
Of Takeovers, Foreign Investment And Human Rights: Unpacking The Noranda-Minmetals Conundrum, Aaron A. Dhir
Articles & Book Chapters
In September 2004 Toronto-based Noranda Inc., one of the world's largest producers of nickel and copper, and China Minmetals Corp., a state-owned Chinese company, announced exclusive talks regarding a potential 100 percent buy-out of Noranda. The proposed friendly takeover was expected to be valued at approximately $7.4 billion USD. The dynamic shifted, however, in mid-November when Noranda announced that the exclusivity period for negotiations had expired and would not be renewed. In early March 2005 Noranda expressed frustration at the continuing lengthy process, which was depressing its share value. At the time, Noranda owned 59 percent of leading Canadian nickel …
Financing Environmental Change: A New Role For Canadian Environmental Law, Benjamin J. Richardson
Financing Environmental Change: A New Role For Canadian Environmental Law, Benjamin J. Richardson
Articles & Book Chapters
Financial institutions occupy a central role in equity and debt markets, providing the finance that shapes economic development and thus environmental pressures. Environmental regulation has traditionally focused on development itself but not those that financially sponsor developers. To achieve an environmentally sustainable economy in Canada, new regulations and policies to promote environmentally friendly financing in the financial services sector are necessary. This article explains why financing environmental change is crucial, surveys the main private financial institutions in Canada relevant to this task, and makes recommendations on how financial regulation and its broader institutional context can be reformed to support sustainable …
Legislative Power In Relation To Transfers Of Securities: The Case For Provincial Jurisdiction In Canada, Benjamin Geva
Legislative Power In Relation To Transfers Of Securities: The Case For Provincial Jurisdiction In Canada, Benjamin Geva
Articles & Book Chapters
No abstract provided.
The Beneficiary’S Bank And Beneficiary Described By Name And Number: Liability Chain And Liability Standard In Wire Transfers (Part 1), Benjamin Geva
The Beneficiary’S Bank And Beneficiary Described By Name And Number: Liability Chain And Liability Standard In Wire Transfers (Part 1), Benjamin Geva
Articles & Book Chapters
This article deals with issues evolving around the identification of the beneficiary in the last payment order in the credit transfer received by the last bank in the transfer chain ("beneficiary's bank"), the duties of the beneficiary's bank in the case of an ambiguous description of the beneficiary in the payment order, and the liability of the beneficiary's bank in case it broke such duties.
The Beneficiary’S Bank And Beneficiary Described By Name And Number: Liability Chain And Liability Standard In Wire Transfers (Part 2), Benjamin Geva
The Beneficiary’S Bank And Beneficiary Described By Name And Number: Liability Chain And Liability Standard In Wire Transfers (Part 2), Benjamin Geva
Articles & Book Chapters
This article deals with issues evolving around the identification of the beneficiary in the last payment order in the credit transfer received by the last bank in the transfer chain ("beneficiary's bank"), the duties of the beneficiary's bank in the case of an ambiguous description of the beneficiary in the payment order, and the liability of the beneficiary's bank in case it broke such duties.
Diffusing Environmental Regulation Through The Financial Services Sector: Reforms In The Eu And Other Jurisdictions, Benjamin J. Richardson
Diffusing Environmental Regulation Through The Financial Services Sector: Reforms In The Eu And Other Jurisdictions, Benjamin J. Richardson
Articles & Book Chapters
The financial services sector has the potential to be an important facet of future systems of environmental governance. But, so far, only ad hoc policy initiatives have arisen in the EU and other countries addressing the environmental roles of banks or insurers. Because the financial services sector is where wholesale decisions regarding future development, and thus pressures on the environment, arise, reform of investment, banking and insurance services to promote long term investment and better consideration of environmental impacts may be an effective way to promote sustainable development. Reforms such as corporate environmental reporting requirements, mandatory environmental liability insurance, and …
Settlement Finality And Associated Risks In Funds Transfers – When Does Interbank Payment Occur?, Benjamin Geva
Settlement Finality And Associated Risks In Funds Transfers – When Does Interbank Payment Occur?, Benjamin Geva
Articles & Book Chapters
This paper addresses the first meaning of settlement finality, that is, the discharge of the interbank obligation. The discussion focuses on large-value transfer systems, namely, "systematically important" payment systems, and examines settlement finality therein under the provisions of Article 4A of the Uniform Commercial Code-Funds Transfers. Primary attention is given to the various implications of settlement finality under Article 4A, as well as to compliance with the statutory scheme with BIS Core Principles, in conjunction with system rules. Following the present discussion on the meaning of settlement finality, Part 2 of the paper sets out settlement mechanisms in large-value transfer …
Book Review: Bankruptcy, Insolvency And Family Law, Stephanie Ben-Ishai
Book Review: Bankruptcy, Insolvency And Family Law, Stephanie Ben-Ishai
Articles & Book Chapters
This is a review of Bankruptcy, Insolvency and Family Law, 2d ed by Robert A. Klotz.
Insolvent Bank’S Irrevocable Credit As Priority Payment Instrument: Barclays Bank V. Price Waterhouse, Benjamin Geva
Insolvent Bank’S Irrevocable Credit As Priority Payment Instrument: Barclays Bank V. Price Waterhouse, Benjamin Geva
Articles & Book Chapters
No abstract provided.
Allocation Of Sender Risks In Wire Transfers: The Common Law And Ucc Article 4a [Part 2], Benjamin Geva
Allocation Of Sender Risks In Wire Transfers: The Common Law And Ucc Article 4a [Part 2], Benjamin Geva
Articles & Book Chapters
No abstract provided.