Who Regulates Whom? An Overview of U.S. Financial Supervision
Examines depository institution regulation, and how federal statutes governing banking have been subject to constant amendment in recent years, especially since the meltdown of the mortgage market and the worldwide crisis that followed. Discusses the growing overlap in competition among depository institutions, insurance companies, and securities firms that has further complicated regulatory policy. Also discussed: the regulated environment of banking, entry rules, branching, control transactions, transactional rules, holding company activities, securities regulation, resolution of institution failures, international banking, and bank regulation and social policy.
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This book collects ten complementary essays on different aspects of financial sector policy for developing and transitional economies. The essays, by leading theoreticians and practitioners, draw on the history and experience of financial sector policy reforms to derive lessons for the future. The collection is carefully chosen to cover the major contemporary issues, including both crisis avoidance and institution-building. The increasing importance of non-bank finance and of international linkages (including dollarization) for small economies are given special attention.
Sponsored by the Banking Law Committee of the International Bar Association's Section of Business Law, this is the fourth edition of a definitive work: the result of extensive discussions at many IBA conferences of lawyers worldwide who provide commentary on a multitude of issues which may arise in the process of rendering legal opinions in international transactions. In most important international business transactions opinions of counsel are required as a condition precedent to the 'closing' of the transaction. This book analyses and comments on the clauses of a typical legal opinion requested in an international transation. The book explains meaning given to such opinion clauses by U.S. counsel, discusses under the law and practice of 25 countries whether such opinion can be given and whether or not modifications are advisable and addresses the investigation necessary to enable a lawyer to render a correct opinion. The book also contains a chapter discussing the opinion a non-U.S. lawyer should request from a U.S. lawyer. The fourth edition adds a discussion of the special issues involved in opinions rendered by in-house counsel. The principal purposes of the book is to improve the communications between the lawyer- frequently a U.S. attorney- requesting the opinion and the lawyer rendering the opinion. Both must have a common understanding of the meaning of the terminology used in, and the scope of, the opinion. Another important purpose of the book is to analyse the interdependence of the opinions of counsel from several countries rendered in connection with one transaction. This frequently requires a conflict of laws analysis. Where the laws of several countries apply to a transaction, the various opinions must be put together like pieces of a puzzle before the recipient of the opinion can be certain that all relevant legal issues, under all relevant legal systems, have been fully addressed.
Important international business transactions require opinions of counsel as a condition precedent to closing. But what if communications fail between the lawyer requesting the opinion (frequently a U.S. attorney) and the lawyer rendering the opinion? Both must have a common understanding of the scope of the opinion and of its terminology. What about the potential problems stemming from the interdependence of the opinions of several countries rendered in connection with a single transaction? Such interdependence frequently requires the careful navigation of conflict of laws analysis. Where the laws of several countries apply to a transaction, the various opinions must be put together like the pieces of a puzzle before the opinion recipient can ascertain whether the opinion fully addresses applicable legal issues under all relevant legal systems. Extensive discussions at several worldwide International Bar Association (IBA) lawyer conferences regarding potential issues in rendering legal opinions in international transactions have resulted in this third edition of a definitive work sponsored by the Banking Law Committee (E) of the IBA's Section on Business Law. This latest edition of Legal Opinions in International Transactions + analyses and comments on the clauses of a typical legal opinion requested in an international financing transaction; + explains the meaning given to such opinion clauses by U.S. counsel; + discusses, under the law and practice of 25 countries, whether such an opinion can be given and whether or not modifications are advisable; + addresses the investigation necessary to enable a lawyer to render a correct opinion; and + contains a chapter not available in earlier editions discussing the opinion a non-U.S. lawyer should request from a U.S. lawyer. These practical features make Legal Opinions in International Transactions the ultimate practitioners' guide on this critical aspect of international deals.
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Regulation is often thought of as an activity that restricts behaviour and prevents the occurrence of certain undesirable activities, but the influence of regulation can also be enabling or facilitative, as when a market could potentially be chaotic if uncontrolled. This Handbook provides a clear and authoritative discussion of the major trends and issues in regulation over the last thirty years, together with an outline of prospective developments. It brings together contributions from leading scholars from a range of disciplines and countries. Each chapter offers a broad overview of key current issues and provides an analysis of different perspectives on those issues. Experiences in different jurisdictions and insights from various disciplines are drawn upon, and particular attention is paid to the challenges that are encountered when specific approaches are applied in practice. Contributors develop their own distinctive arguments relating to the central issues in regulation and apply scholarly rigour and clear writing to matters of high policy-relevance. The essays are original, accessible, and agenda-setting, and the Handbook will be essential reading both to students and researchers and to with regulatory and regulated professionals.
Regulation is a key concern of industries, consumers, citizens, and governments alike. Building on the success of the first edition, Understanding Regulation, Second Edition provides the reader with an introduction to key debates and discussions in the field of regulation from a number of disciplinary perspectives, looking towards law, economics, business, political science, sociology, and social administration. The book has been extensively revised and updated to take into account the significant developments and events of the past decade. Containing several new chapters, it has been completely restructured into seven parts, covering: the fundamental issues regarding regulation; different types of regulatory strategies; rules and enforcement; quality and evaluation; regulation at different levels of government; network issues; and concluding thoughts. Drawing on cross-sectoral and cross-national examples, this book reviews the central questions of regulation, and reflects upon those contentious issues that affect the design and operation of regulatory institutions. Amongst other topics, it discusses 'better regulation', enforcement, self-regulation, risk regulation, cost-benefit analysis, and more utility regulation-oriented topics, such as price-setting. It will be an essential resource for academics, researchers, and graduates across the social sciences studying regulation.
