Banking and Finance Law Commons^™

Velazquez Named To Sec Investor Advisory Committee, James Owsley Boyd

Keep Up With the Latest News from the Law School (blog)

The U.S. Securities and Exchange Commission announced today (Sept. 10) six new members—including an associate professor from the Indiana University Maurer School of Law—to fill vacancies on its Investor Advisory Committee.

Prof. Alvin Velazquez, who joined the Indiana Law faculty this summer, is one of only two members of academia newly appointed to the committee. The committee advises the SEC on regulatory priorities and initiatives to protect investors and promote the integrity of the U.S. securities markets.

Liberalisasi Perbankan Dan Peranan Bank Asing Dalam Perbankan Di Indonesia, Afganovic Mujadid Ashilah, Alvianty Dwi Puspita, Alvin Persada Putera

Technology and Economics Law Journal

This study evaluates the impact of banking liberalization in Indonesia, particularly in relation to the presence of foreign banks, and compares the requirements for establishing foreign banks with those of other ASEAN countries. Using a doctrinal method, this study analyzes regulations and legislation, including Law No. 14 of 1967, Law No. 7 of 1994, and POJK No. 12/POJK.03/2021. The results of the study show that banking liberalization has brought significant benefits such as knowledge and technology transfer, increased competition, access to international markets, and economic stability. A concrete example is the role of foreign banks in rescuing troubled domestic banks …

Komparasi Pengawasan Bisnis Bank Digital Dan Bank Konvensional Berdasarkan Peraturan Perbankan Di Indonesia, Arifin Pringgo Laksono, Candra Wahyu Saputro, Ega Kesatrya Putra

Technology and Economics Law Journal

Digital transformation in Indonesia's banking industry has created new opportunities and challenges for the national financial system. The increase in digital banking transactions is supported by digital economic growth of USD 90 billion, reflecting significant changes in consumer preferences and banking structures. However, this pace of development has been accompanied by a 50% increase in cybersecurity incidents from 2021 to 2023, threatening public trust and financial system stability. Regulations set by the Financial Services Authority (OJK) through POJK No. 12/POJK.03/2021 and POJK No. 12/POJK.03/2018 have attempted to accommodate the needs of digital banks, but challenges in technology oversight, cybersecurity, and …

Shadow Banking And Securities Law, Gabriel Rauterberg, Jeffery Y. Zhang

Law & Economics Working Papers

Shadow banking may be the single greatest challenge facing financial regulation. Financial institutions that function like banks, but outside the scope of banking regulation—aptly termed “shadow banking”—were at the heart of the Global Financial Crisis and most episodes of serious financial stress since then. Scholars have largely focused on one response to this problem—extending traditional banking regulation to shadow banks. Yet more than fifteen years after the crisis, major regulatory efforts along this route have stalled.

In this Article, we explore the uneasy case for greater regulation of shadow banking through securities law. Our first contribution is analytical. We demonstrate …

Przegląd Orzecznictwa Sądów Polskich W Sprawach Kredytów Hipotecznych Dotyczących Walut Obcych (Wybrane Przykłady), Edyta Rutkowska-Tomaszewska, Marta Fabiszewska

internetowy Kwartalnik Antymonopolowy i Regulacyjny (internet Quarterly on Antitrust and Regulation)

This review presents a selection of Polish court cases that have been rendered in recent years (2017–2023) by the Supreme Court and common courts (district and appellate) in cases of loans relating to foreign currencies (denominated or indexed to a foreign currency). These rulings are presented according to the leading problems on which they focus, which are reflected in the titles of the separate subdivisions of this study, i.e.: the status of the consumer borrower; agreements concluded between entrepreneurs; the scope of a lender’s obligation to inform the borrower about foreign currency risk; repayment of a loan directly in a …

Bankowość Elektroniczna W Polsce W Opinii Klientów Indywidualnych W Świetle Wyników Badania Własnego, Weronika Mazurek

internetowy Kwartalnik Antymonopolowy i Regulacyjny (internet Quarterly on Antitrust and Regulation)

Considering the dynamic technological progress, electronic banking is now both a modern and convenient means for clients to communicate with their bank remotely. Importantly, e-banking is gaining increasing prominence as a commonly accepted and key tool for financial management in modern society. The purpose of this article is to present the results of a survey conducted among individual clients in possession of a bank account. The survey focuses on understanding the ways in which e-banking shapes clients’ habits and influences their preferences. The survey has set out two research hypotheses. First, that there is a growing trend of traditional banking …

Climate Allocation Compass, A Framework For Real-World Decarbonization (Compass-Frwd), Perrine Toledano, Ajay S. Jagdish, Maria Diez Andres, Ana M. Camelo Vega, Rob Furdak, Christina Bastin, Matt Goldklang, Jane Smyth

Columbia Center on Sustainable Investment

Climate finance currently falls far short of what's required to achieve net-zero targets. In a collaboration with the Man Group, we offer a framework setting out how investors can help to close this gap.

Key takeaways:

1. To address the global climate finance gap,CCSI and Man Group have developed the Climate Allocation Compass, a Framework for Real-World Decarbonization (‘Compass-FRWD’).
2. Compass-FRWD is a six-step asset allocation framework designed to guide strategic capital investment across multiple portfolios. It does so by setting financing targets relative to real-world emission gaps, thereby prioritizing sectors and geographies according to decarbonization needs.
3. Compass-FRWD provides a cyclical, investor-level …

Giant Asset Managers, The Big Three, And Index Investing, Dorothy S. Lund, Adriana Z. Robertson

Faculty Scholarship

A robust literature describes the incentives and stewardship practices of the “Big Three” asset managers (BlackRock, Vanguard, and State Street Global Advisors), often referring to these asset managers as “passive.” This is so common that the “Big Three,” “index fund,” and “passive manager” are used almost interchangeably by both academics and practitioners. This shorthand emerged in the foundational scholarship in this area, and while it may remain useful in certain contexts, its casual use obscures important features of the market and contributes to misperceptions. In this chapter, we demonstrate that it is a mistake to equate passive investing with index …

Crypto Losses, Xuan-Thao Nguyen, Jeffrey A. Maine

Articles

The crypto industry has been hit hard with various market forces and scams, leaving investors with trillion-dollar losses in recent years. The appropriate tax treatment of such losses has yet to be fully examined, as there is scant guidance and a dearth of academic literature on the subject. This Article attempts to fill this gap by applying general tax principles to crypto losses and making several recommendations to improve the clarity and consistency of tax results. It explores various theories of crypto loss “realization” (including theft, abandonment, and worthlessness), highlighting where additional guidance is needed. And it considers appropriate legislative …

Mareva Injunction And Crypto Fraud, Man Yip

Research Collection Yong Pung How School Of Law

Without a Mareva injunction, there is always a risk that any victory on the substantive merits would be rendered hollow in practice by the absence of assets against which the judgment may be enforced. Indeed, it is in cases concerning fraud that the risk of a nugatory judgment is most amplified because the defendant would have the propensity to engage in dishonest practices. Alarmingly, nearly 30 years aft er Mercedez Benz, the ‘black hole’ has enlarged because fraudsters can easily hide behind complex corporate structures and the anonymity of cyberspace. 2 Th is chapter focuses on the use of Mareva …

Analisis Efektivitas Jaminan Perorangan Sebagai Pemenuhan Hak Kreditur Dalam Penyelesaian Kredit Yang Wanprestasi Pada Bank X, Maria Audy Vania Putri, Akhmad Budi Cahyono

Lex Patrimonium

This paper analyzes how the effectiveness of personal guarantees in supporting the fulfillment of creditor rights in resolving defaulted loans at banks. This paper is prepared using a non-doctrinal research method. Understanding the role of personal guarantees in the context of defaulted credit settlement is essential to optimize the process and final results of credit settlement. The results show that personal guarantees play an important role in the fulfillment of creditor rights in defaulted credit settlements. The analysis of the effectiveness of personal guarantees includes an evaluation of the collateral registration process, collateral value assessment procedures, and credit settlement mechanisms. …

Fhfa Comment Letter Regarding Fhlbs Mission, David J. Reiss

Cornell Law Faculty Working Papers

The Federal Housing Finance Agency (the “FHFA”) has requested Input regarding the regulatory statement of the Federal Home Loan Bank System’s (the “System”) mission to better reflect its appropriate role in the housing finance system. I commend the FHFA for being realistic about the System in its Request for Input; it acknowledges that there is a mismatch between its mission and its current operations.

The System’s operations do not do nearly enough to support the System’s stated mission of supporting the financing of housing. The System should recommit to that goal in measurable ways or its name and/or mission should …

Dei As Cultural Commitment In An Era Of Backlash, Christopher D. Hampson, Elise Bernlohr Maizel

UF Law Faculty Publications

In 2023, shortly after the U.S. Supreme Court ended affirmative action in college admissions in the companion cases Students for Fair Admissions Inc. v. President & Fellows of Harvard College and Students for Fair Admissions Inc. v. University of North Carolina (SFFA), conservative officials and activists began threatening (and taking) legal action against private law firms, arguing that their diversity, equity and inclusion (DEI) programs violated state and federal law. This development should matter to bankruptcy lawyers, both as citizens of our own law firms and as counsel to companies in financial distress. We hope that this rolling assault on …

Corporate Law—An Introduction To Digital Assets And A Summary Of The 2022 Amendments To The Uniform Commercial Code, David Gardner

University of Arkansas at Little Rock Law Review

No abstract provided.

Sino-American Sanctions Convergence?, Ryan Martinez Mitchell

Cardozo International & Comparative Law Review

The People's Republic of China is rapidly constructing a new regime for economic and diplomatic sanctions. With its Anti-Foreign Sanctions Law (AFSL) and related legislation, Beijing has taken a step towards legally formalizing the means of pressure it uses against states, organizations, or individuals seen as threatening its core interests. Meanwhile, various informal coercive measures also continue to be employed. While questions remain about their scope and future uses, Beijing has especially extolled AFSL sanctions as countermeasures to U.S. interference.

This Article undertakes a detailed examination of the new Chinese sanctions framework, its historical origins, and its role in Beijing's …

Climate Impact Screening And Reporting: A Venture Capital Perspective, Ajay S. Jagdish, Perrine Toledano, Ana M. Camelo Vega

Columbia Center on Sustainable Investment

According to the International Energy Agency’s (IEA) Net-Zero Scenario, about one-third of the emissions reductions needed by 2050 depend on technologies that are currently in development. Additionally, climate adaptation finance faces an even larger investment gap.

The Climate Venture Capital community must demonstrate tangible climate impact to truly earn its reputation.

However, accurately and reliably screening, evaluating, and monitoring climate impact is challenging, with many metrics and methods still needing to be ascertained, clarified, and standardized.

With the support of Princeville Capital, CCSI offers insights into unresolved issues:

1. Attribution and baselining
2. Paris-aligned thresholds for prioritization
3. Indirect impact and tailored KPIs …

Informing The Debate On Lowering The Criminal Rate Of Interest, Gail Henderson, Katlin Abrahamson

Dalhousie Law Journal

Canada has two markets for consumer credit. Consumers with middle to high incomes can draw on ‘mainstream’ forms of credit at reasonable interest rates, such as lines of credit and credit cards issued by chartered banks. Consumers living on low to moderate incomes, who also may have a poor credit score or no credit history, often find themselves pushed to high-cost credit products, such as instalment loans issued by alternative financial services providers. The effective annual interest rate on instalment loans can run up to the maximum permitted under section 347 of the Criminal Code. Anything above this constitutes a …

Toward A Biometric Privacy Act To Protect Individual Rights: What The United States Can Learn From The European Union And China, Sophia Hilsman

Cardozo International & Comparative Law Review

The note examines the regulatory frameworks governing biometric AI technologies, particularly facial recognition, in the United States, China, and the European Union. It argues that the U.S. currently lacks comprehensive federal legislation to protect individuals' privacy and civil liberties in the face of advancing biometric technologies. The analysis advocates for a balanced regulatory approach that mitigates the risks of mass surveillance and erosion of privacy while allowing for beneficial uses of biometric AI. The author proposes that Congress should adopt federal legislation modeled after the EU's GDPR to establish a baseline for biometric data protection, ensuring consistency and stronger safeguards …

Systemic Regulation Of Artificial Intelligence, Yonathan Arbel, Matthew Tokson, Albert Lin

Articles

Today's artificial intelligence ("AI") systems exhibit increasing capabilities across a remarkable variety of tasks. The rapid growth in AI ability has caught the attention of policymakers, parliaments, and the United Nations. These entities are increasingly looking towards regulating AI, not only in its particular applications, but as a technology. Yet legal scholarship has thus far offered little to this new and critical regulatory conversation, which has instead been dominated by computer scientists and technologists.

This Article begins the project of assessing AI's broader risks and law's role in addressing them. These risks are wide ranging -they span harms to vulnerable …

The Unraveling Of The Federal Home Loan Banks, Kathryn Judge

Faculty Scholarship

The Federal Home Loan Bank system is a $1.3 trillion government-sponsored enterprise that operates primarily for the benefit of member financial institutions. Federal Home Loan Bank members enjoy generous dividends and ready access to fresh liquidity. The biggest beneficiaries are the biggest users of the system, including the largest banks and insurance companies in the country and banks facing financial distress. This essay explains the original aims of the Federal Home Loan Bank system, how the system fulfilled those aims quite successfully for decades following its creation in 1932 and how the system evolved to serve primarily private aims. By …