Banking and Finance Law Commons^™

A New Structuring Option For Funds: The Singapore Variable Capital Company, Vincent Ooi

Research Collection Yong Pung How School Of Law

The Singapore Variable Capital Company (“VCC”) offers a new structuring option for funds. This article considers the features of the VCC in terms of structure, operational aspects and commercial considerations, against the backdrop of similar structures in the BVI and Labuan. It submits that, with statutory modifications, opportunities exist to use the VCC for insurance, captive insurance and family offices.

Who Killed The Mockingbird?-An Analysis Of Community Theatres' Legal Standing Amid Copyright Disputes Over To Kill A Mockingbird And How To Protect Community Theatres, Yifan Li

Cardozo Journal of Equal Rights & Social Justice

No abstract provided.

Regulating Financial Advisers In The Uk: Lessons For Australia, Weiping He, Han-Wei Liu

Research Collection Yong Pung How School Of Law

Prompted by the 2008 Global Financial Crisis, the Australian government introduced the Future of Financial Advice reforms in 2013. It aimed to improve the quality of financial advice by virtue of a best interests duty and a ban on conflicted remuneration, inter alia. Despite the reforms, public trust in financial advisers remains unacceptably low. Adviser misconduct, driven by conflicted selfinterest, remains prevalent. By contrast, there is relatively greater trust in financial advisers in the United Kingdom (‘UK’). This article focuses on how the UK regulates financial advisers, where the best interests duty and suitability rule also apply. The analysis that …

The Mdl Revolution And Consumer Legal Funding, Ronen Avraham, Lynn A. Baker, Anthony J. Sebok

Articles

Third-party consumer legal funding, where financial companies advance money on a nonrecourse basis to assist individual plaintiffs with living expenses, is an increasingly popular and controversial part of American litigation. And consumers with mass tort claims pending in Multi-District Litigations (MDLs) constitute the fastest growing sector of those seeking assistance from this billion-dollar funding industry. Policy makers, mass tort plaintiffs' lawyers, and scholars have increasingly raised concerns about exorbitant interest rates and have called for regulations to protect vulnerable consumers from “predatory lending.” To date, however, the policy debate has largely relied on anecdotes and speculation because flinders have not …

Tanggung Jawab Debitur Yang Wanprestasi Terhadap Kreditur Akibat Sertifikat Jaminan Fidusia Yang Tidak Sah (Studi Putusan Mahkamah Agung Nomor 3584 K/Pdt/2018), Inggri Vinaya

Indonesian Notary

The fiduciary guarantee certificate is a legal protection for the fiduciary recipient of the financing agreement agreed with the fiduciary. In the event that the fiduciary commits default, the fiduciary recipient can execute the fiduciary security object. The existence of an executorial title on the fiduciary guarantee protects the fiduciary recipient wherever the object of the fiduciary guarantee is, both the fiduciary and other parties. In the registration of the object of fiduciary security, the parties must pay attention to the correctness of the object of guarantee that is registered because it may harm the parties if it does not …

Analisis Penggunaan Akta Subrogasi Dalam Rangka Implementasi Pasal 2 Qanun Aceh Nomor 11 Tahun 2018 Tentang Lembaga Keuangan Syariah, Yoga Arief Setiawan

Indonesian Notary

Implementasi suatu peraturan perundang-undangan akan memiliki dampak penyesuaian terhadap beberapa aspek. Penyesuaian tersebut sangat berkaitan dengan boleh atau tidaknya suatu perbuatan hukum dilakukan. Dengan berlakunya Qanun Aceh Nomor 11 Tahun 2018 tentang Lembaga Keuangan Syariah, hal tersebut menyebabkan Lembaga Keuangan yang bersifat konvensional tidak dapat beroperasi di Aceh, dengan demikian terdapat rencana konversi transaksi konvensional menjadi transaksi berdasarkan prinsip syariah dalam rangka perpindahan nasabah kredit bank konvensional menjadi nasabah pembiayaan bank syariah di Aceh. Penelitian ini merupakan penelitian yuridis normatif dengan tipe penelitian deskriptif analitis yang memberikan perspektif terhadap mekanisme yang dapat digunakan untuk menyelesaikan permasalahan. Dalam penelitian ini disebutkan …

Tinjauan Yuridis Mengenai Anjak Piutang: Studi Kasus Tentang Perjanjian Anjak Piutang Antara Pt. A Dengan Pt. B, Lina Novita B.

"Dharmasisya” Jurnal Program Magister Hukum FHUI

Factoring in Indonesia is financing activity in the form of short-term trade receivables purchase a company including management of that receivables. This research is normative juridical research with descriptive conceptual approach. The result in this research is factoring agreement without cessie not void the agreement as long as all the parties include the investor known and agreed with that factory agreement however before the agreement have a notary deed, there is not a prestatie that appear from that agreement. Investo (debt recognition notes) issued by investor have not legitimate and it can not void the agreement because the recognition is …

Konsep Penerapan Prinsip Business Judgement Rule Pada Keputusan Direksi Badan Usaha Milik Negara (Bumn), Gita Wanda Sesara

"Dharmasisya” Jurnal Program Magister Hukum FHUI

Member of the Board of Directors (Director) of State Owned Enterprises (BUMN) are appointed and dismissed by the Shareholders which if the shares are one hundred percent owned by the government, then he appointment and dismissal of Director are carried out by the government. As an extension of the government, Director are required to be able to manage the company with integrity, prudence, as well as profit-oriented. Director in carrying out the company activities must be able to prove that the decisions are not based on personal decisions, but only for corporate purposes. Director manages the company by adhering to …

Foreign Direct Investment Negara Kamboja, Amanda Julia

"Dharmasisya” Jurnal Program Magister Hukum FHUI

Investment is divided into 2 (two), namely direct investment or commonly known as foreign direct investment and foreign indirect investment. Foreign direct investment provides benefits for a country that applies it, namely increasing socio-economic development, reducing poverty and transferring technology. Of the many benefits of foreign direct investment, it certainly provides a big benefit for developing countries such as Cambodia. The Cambodian Investment Law of 1994 establishes an open and liberal foreign investment regime. All sectors of the economy are open to foreign investment and the government allows 100 percent foreign ownership of companies in most sectors. In order to …

Aspek Hukum Atas Penerbitan Waran Tanpa Hak Memesan Efek Terlebih Dahulu Sebagai Cara Pembayaran Utang Emiten Pasar Modal Indonesia, Arfan Noer Azwad

"Dharmasisya” Jurnal Program Magister Hukum FHUI

In order to debt restructuring activities, a public company may be able to utilize various capital market instruments deemed to be most appropriate to the circumstances of public companies or issuers. One of them is by selling the equity securities either selling stocks, converting bonds in the settlement of debt restructuring, and / or issuing warrants.Warrants issued as part of a restructuring scheme of the Capital Market Issuers in debt repayments certainly have legal risks which certainly have an impact on shareholders, or on creditors.

Tinjauan Yuridis Penjaminan Simpanan Bank Dalam Likuidasi Terkait Simpanan Unrecorded Akibat Fraud Yang Dilakukan Oknum Bank, Dwinanto Prakoso

"Dharmasisya” Jurnal Program Magister Hukum FHUI

Bank as an agent of development aims to support the implementation of national development in order to improve the distribution of development and its results, economic growth, and national stability towards improving welfare of many people. In the impelemntation of the bank role as an agent of development, banks must carry out their business activities by taking into account public trust in the business of the bank. One of the efforts to maintain public trust in the activity of raising funds by banks, in year 2004 the government established the Deposit Insurance Corporation. One of the functions of the Indonesian …

Index Funds And Millennial Assets, Christopher Bruner

Popular Media

This piece is a review of a forthcoming article titled “Shareholder Value(s): Index Fund ESG Activism and the New Millennial Corporate Governance” (in the Southern California Law Review by M. Barzuza, Q. Curtis and D. Webber). Bruner is a contributing editor to JOTWELL’s Corporate Law section.

Credit Cards

UAEU Law Journal

Credit cards are widely usedall over the world. Theyalmost have replaced currencies in transactions, payments, and in the fulfillmentall types of financialcommitments.

Credit card is an authorization from a bank to the holder of the card, which permits the holder pay for transactions, withdrawing cash and obtaining services.

Various types of credit cards are issued by banks (including Islamic banks) to their customers:

-Regular cards whichallow the holders to pay directly for transactions from his/ her account it is a payment method.

-Cards which do not require the holder to have credit or cash in the account. Interests are charged …

Shari'a, Financial Institutions' Auditing Manual

UAEU Law Journal

Auditing Islamic, financial institutions by Shari'a is a relatively new industry; thus, there is an urgent need for established rules and theories in order to make it a more stable field. This research shows the extent to which the auditing industry needs to prepare an internal auditing procedure manual.

In the first section of this study, the researcher defines the term "internal auditing procedure." Then, he briefly discusses the legality of auditing and its divisions. In the second section, the researcher draws the parameters of the internal auditing procedure manual; then he mentions the most important procedures that the auditor …

The Bank Civil Liability Regarding Consumer Loans Toward Debtor: A Study Based On Kuwaiti And French Law

UAEU Law Journal

Long ago, the French courts did not hesitate in recognizing the bank's liability toward its debtor based upon its failure to warn the debtor especially when the loan did not fit the debtor's financial ability. As a result of that judicial precedent, the French legislature, recently, adopted the bank's responsibility towards its debtor in providing the loan in the Consumer Protection Act. Therefore, when a contract is concluded between a professional and a consumer (Consumer Loan Contract), the bank is obliged to clarify all financial details to a consumer (debtor). In addition, the bank is obliged to verify the consumer's …

Bank Recourse To The Beneficiary Post Implementation Irrevocable Documentary Letter Of Credit Contract )A Comparative Study(, Abdullah Khalid Al-Sofani

UAEU Law Journal

It is hard to imagine, at least materially, that either of the business transaction parties adhere to his/her commitments spontaneously. This is due to the fears inflicted on both parties, which consequently resulted in the creation of distrust between both parties. Therefore, it was better to devise a method represented by legal and institutional forms that will ensure availing guarantees for two remotely separated persons in terms of place. Thus, each party will start implementing his/her obligations with no fear of the non fulfillment of the other party.

For these reasons, and in connection with the documents, the documentary letter …

The Norms Of Algorithmic Credit Scoring, Nikita Aggarwal

Articles

This article examines the growth of algorithmic credit scoring and its implications for the regulation of consumer credit markets in the UK. It constructs a frame of analysis for the regulation of algorithmic credit scoring, bound by the core norms underpinning UK consumer credit and data protection regulation: allocative efficiency, distributional fairness and consumer privacy (as autonomy). Examining the normative trade-offs that arise within this frame, the article argues that existing data protection and consumer credit frameworks do not achieve an appropriate normative balance in the regulation of algorithmic credit scoring. In particular, the growing reliance on consumers' personal data …

Contracting In The Age Of Smart Contracts, Farshad Ghodoosi

Washington Law Review

Smart contracts lie at the heart of blockchain technology. There are two principal problems, however, with existing smart contracts: first, the enforceability of smart contracts remains ambiguous. Second, smart contracts are limited in scope and capability barring more complex contracts from being executed via blockchain technology. Drawing from the existing literature on contracts and smart contracting, this Article suggests new approaches to address these two problems. First, it proposes a framework based on reliance-based contracting to analyze smart contracts. Second, the Article analyzes the seismic shifts in contractual disputes, and offers new insights into its features including decentralized decision-making, network-based …

Digital Greenbacks: A Sequenced ‘Treasury Direct’ And ‘Fed Wallet’ Plan For The Democratic Digital Dollar, Robert Hockett

Journal of Technology Law & Policy

I propose means of immediately converting the Department of Treasury’s existing Treasury Direct system of freely available transaction accounts into a publicly administered digital savings and payments platform. A platform of this type is an essential public utility in any commercial society such as our own. It is additionally growth-promoting inasmuch as growth-tracking Gross Domestic Product (GDP) is a measure of transaction volume, while transaction volume is a function of more efficient and inclusive transacting. As Congress seeks means of streamlining the payments infrastructure in a time of pandemic-induced crisis, the Treasury route recommends itself as the fastest way to …

The “Tawaruq” Method As Conducted By Islamic Banks, Maen Saoud Abu Bakr

UAEU Law Journal

This research aimed at identifying the Islamic ruling regarding both types of Al-Tawarruq. The old “Tawaruq”, which was debated and agreed upon by ancient Islamic jurists and the new type of “Tawaruq” which is adopted by the banking systems today as an alternative to interest-based services. In addition, the research aimed to explore the fundamental nature and the main features of “Tawaruq” adopted by the banking systems and the one relevant to Islamic Fiqh.

To achieve this objective, the researcher analyzed the sayings and documents relevant to “Al Tawaruq” in Islamic Fiqeh objectively without prejudice. The research revealed that fiqeh …