Finance and banking law

The European Union (EU) was arguably the first body to establish multinational anti-market abuse laws aimed at enhancing the detection and curbing of cross-border market abuse activities in its Member States. Put differently, the EU Insider Dealing Directive was adopted in 1989 and was the first law that harmonized the insider trading ban among the EU Member States. Thereafter, the European Union Directive on Insider Dealing and Market Manipulation (EU Market Abuse Directive) was adopted in a bid to improve and effectively discourage all forms of market abuse in the EU's securities and financial markets. However, the EU Market Abuse Directive had its own gaps and flaws. In light of this, the Market Abuse Regulation and the Criminal Sanctions for Market Abuse Directive were enacted to repeal and replace the EU Market Abuse Directive in 2016. The article examines the adequacy of the EU Market Abuse Directive and its implementation in the United Kingdom (UK) prior to the UK's vote to leave the European Union (Brexit). This is done to investigate the possible implications of the Brexit referendum outcome of 23 June 2016 on the future regulation of market abuse in the UK.

"The increasing sensibility regarding intangible cultural heritage provides momentum to better define a legal framework for the protection of these peculiar immaterial goods. This article questions whether the current intellectual property rights (IPRs) regime represents an adequate model of protection vis-à-vis intangible cultural heritage. A plethora of caveats must be taken into consideration, starting with the desirability of the commodification of intangible cultural heritage, i.e. its exploitation and commercialization through the IPRs regime, but also including the outlining of the legal instruments needed for guaranteeing adequate advantages for the countries and communities representing the sources of origin of the intangible goods. 
After framing the crucial issues detected in literature regarding intangible cultural heritage, the article investigates the ways in which the actual IPRs regime grants protection to intangible goods. Our evaluation supports the idea that, without a many-faceted remodeling, current intellectual property laws represent an unsatisfactory mechanism for protecting intangible cultural heritage. This inadequacy is rooted in the inefficacy of IPRs under the patent and copyright regimes in ensuring the protection of cultural heritage, while also falling short of fostering an appropriate comprehensive social policy."

Various taxing power-related challenges have negatively affected the governance of state and federal governments of Nigeria since1999 to date. For instance, the poor drafting of the Nigerian constitution of 1999 and the failure on the part of the policy makers to adequately distinguish and delineate the taxing powers of the state and federal governments has given rise to sharp divisions and jurisdictional conflict-related litigation. Accordingly, the article examines these and other related flaws in the Nigerian and Ethiopian tax laws. Moreover, the relevant constitutional provisions in these countries are comparatively discussed to, inter alia, recommend possible measures that could be employed to remedy such flaws in Nigeria and Ethiopia. In this regard, it is submitted that the Nigerian tax laws and the Nigerian constitution of 1999 should be amended to provide a clear position on the taxing powers for both state and federal governments. Lastly, the authors submit that the Nigerian policy makers should consider adopting the Ethiopian model for the allocation of taxing powers.

COMPLAINT FILED AGAINST WILMINGTON, BANK OF AMERICA FORECLOSURE FRAUD

In this case of obvious and patent FORECLOSURE FRAUD a Homeowner in Florida lays out exactly how the securitization Ponzi scheme takes place leaving the mortgage unsecured against the property.

Even so Bank of America ( BOA ) sold the note to Freddie Mac which placed it in a Trust and entitlement to foreclose was extinguished. BOA lost the right to claim any defect in the Mortgage when it breached its obligations under the Note.

Wilmington became aware of the facts supporting a wrongful foreclosure as well as the facts upon which its claim of foreclosure should fail and elected, despite such knowledge, to continue prosecuting its false claim to foreclose.

This paper examines the moratorium on loan repayments, which was intended to relieve debtors in a difficult situation during the COVID-19 pandemic. In this study, various aspects of such moratoria are critically discussed and compared from an international perspective. Some debtors were significantly hit hard by the pandemic, whereas others were no. But should the moratoria apply to all of them? The free-rider problem, or even harm to some clients, are among the unintended results of the moratorium. Moreover, the loan repayment moratorium has different effects on the traditional banking sector and on P2P lending platforms. Such differences were not discussed sufficiently before adopting the moratoria. The different effects might have a negative impact on some debtors, on some creditors, or on the market and society in general. Along with using some traditional legal research methods, this paper takes a comparative perspective on loan repayment moratoria in different EU countries among. The conclusions of the paper may help regulators and lawmakers prepare more balanced regulations of loan repayments in the next crisis. Future regulations should reflect the perspectives of both debtors and creditors.

Commento alla sentenza della Corte D'Appello Di Milano n. 1228/20, che, confermando nella sostanza la decisione di primo grado, ha accolto tutte le tesi del nostro Studio in questa complessa azione di nullità/accertamento e risarcimento del danno.

La sentenza coglie l'occasione di fare il punto sui temi principali del contenzioso tra Banche e correntisti, prendendo anche posizione su alcune questioni meno "frequentate" ma non per questo meno rilevanti.

Questi i punti salienti della decisione:

✅ Il correntista può, anche prima dell’estinzione del rapporto di conto corrente bancario, esperire azione di nullità contrattuale e accertamento del saldo del conto corrente.

✅ L’estratto conto non è l’unica prova del dare-avere tra banca e correntista.

✅ La presenza di affidamenti e linee di credito può essere dimostrata aliunde, anche in assenza di uno specifico contratto.

✅ È risarcibile il danno d’immagine anche in caso di illegittima segnalazione del mero ritardo o “ad incaglio”.

As Association Football Clubs look to finance player transfer fees, lenders have seen an increasingly prevalent role and will seek to secure their loan against club assets. One of the methods of securing lending has been to utilise the transfer market value of player economic rights. This paper examines the insolvency effects of a lender taking an interest in the eventual, prospective proceeds of a sale of a player's economic rights. It asks how a transaction might be structured to secure a loan using the value of a player's economic right and examines the potential pitfalls within the private international law rules of association football and the insolvency rules of England and Wales. The authors suggest that FIFA regulations involving third-party participation, Articles 18bis and 18ter, are incongruent with the rules controlling the same matter as found within the English FA and the English Premier League. The result produces inconsistent certainty as to how a lender could structure a loan. It is suggested that the FIFA regulations apply with direct effect and any transaction should heed to the stricter interpretation found therein. Secondly, the case in the matter of Football Creditors highlights a red line for the risks of unsecured lending to football clubs. The paper proposes two methods for ensuring a transaction provides a lender with adequate protection against insolvency and the Football Creditor Rule and against the unclear FIFA regulations when a lender uses the proceeds from the sale of a player's economic right as collateral.

Using objective measures of investor protections in 170 countries, I establish that the level of investor protection matters for cross-country differences in GDP growth: countries with stronger protections tend to grow faster than those with poor investor protections.

Con l'introduzione dell'istituto della mediazione i compiti affidabili dai clienti agli avvocati sono aumentati rispetto alla comune tutela in sede giudiziale (e stragiudiziale). Si è altresì assistito, negli ultimi anni, alla creazione di forme di mediazione specializzata in ambito bancario e finanziario, rappresentate -rispettivamente -dall'Arbitro Bancario Finanziario (ABF) e dall'Arbitro per le Controversie Finanziarie (ACF). Nel presente lavoro si esamina il ruolo che l'avvocato è chiamato a rivestire all'interno delle procedure di mediazione, con particolare riferimento alle mediazioni bancarie e finanziarie. Ci si chiederà in particolare se la presenza di un avvocato sia necessaria e se l'intermediario, in caso di soccombenza, debba/possa essere condannato a rifondere le spese legali al ricorrente.

This article presents a study of the so-called ‘unilateral’ (‘optional’, ‘hybrid’) jurisdiction clauses combining arbitration and choice of court options, which business tends to favour as such clauses seek to designate a method of dispute resolution that provides a more favourable position for one of the parties to an agreement and ensure better enforcement against a debtor’s assets. However, there are a growing number of jurisdictions where courts have issued decisions that declare such clauses either invalid or as having a significant defect. This study makes a review of both common law and continental jurisdictions and focuses particularly on a number of decisions issued recently in continental jurisdictions making an assessment of the arguments that are typically employed by courts in order to find that a unilateral clause is invalid. Finally, this study proposes a method of interpretation of unilateral jurisdiction clauses which favours their validity or, where there is a significant defect, proposes partial invalidity and severance instead of invalidity of the entire clause.

Green Finance includes all initiatives taken by private and public banks, businesses and international organizations in developing, promoting, implementing and supporting projects with sustainable impacts through financial instruments. Green finance represents the future of financial sector through innovative financial mechanisms. This paper is written in a simple language to make everyone understand What is Green Finance? It concentrates on the evolution and concept of green finance, global impact and challenges and green finance during COVID-19. This is a Descriptive study carried only with secondary source of data. Finance is an Ocean and Green Finance is a little drop of an Ocean.

KATA PENGANTAR

Beberapa hal yang baru selalu muncul mengikuti perkembangan dunia yang semakin cepat berubah karena adanya teknologi-teknologi terkini yang hadir.  Perubahan itu suatu hal yang pasti tanpa seorangpun bisa mencegahnya. Lihat saja kehadiran ponsel canggih (smartphone) telah mengubah seluruh wajah dunia dalam satu genggaman.  Semuanya ada di dalam genggaman termasuk informasi-informasi mengenai bank dan lembaga keuangan.  Saat ini seorang dosen dituntut untuk berkreativitas dan berkoneksitas dengan teknolgi canggih dibidangnya jika ingin maju dan tidak ketinggaln zaman.
Dalam bidang perbankan ada perubahan yang cukup signifikan yaitu hadirnya Otoritas Jasa Keuangan (OJK) sebagai lembaga independen yang mengawasi bank mengantikan posisi yang dulu ada ditangan Bank Indonesia.  Tidak itu saja, OJK juga hadir sebagai lembaga pengawas lembaga keuangan non bank yang sebagian dulu berada dibawah kendali BAPEPAM-LK.  Kehadiran OJK sebagai lembaga baru dibidang pengawasan bank dan lembaga keuangan non bank mengubah banyak hal pada buku-buku teks tentang bank dan lembaga keuangan non bank yang  beredar saat ini. Begitu juga dengan kehadiran Lembaga Penjamin Simanan(LPS) sebagai lembaga penjamin simpanan nasabah di bank.
Penulis mencoba menyelami dan mengambil suatu kesempatan untuk mencoba menulis buku  sesuai kondisi terkini di bidang perbankan dan lembaga keuangan mengikuti perubahan-perubahan yang sedang  terjadi.  Perubahan-perubahan yang juga sangat terasa itu diantaranya dengan kehadiran Fintech sebagai salah satu pemain baru di bidang penyaluran kredit secara online berbasiskan internet (branchless) yang otomatis menjadi lembaga keuangan non bank yang berada dibawah asuhan OJK.  Disamping itu  juga kehadiran Lembaga Keuangan Mikro baik konvensional maupun syariah yang tentunya menunggu regulasi dari pemerintah dan lembaga yang mengawasinya yakni OJK. .
Pada bagian pertama buku ini yang terdiri dari sembilan bab yang membahas tentang lembaga keuangan bank yang teridiri dari (1). Overciew Lembaga Keuangan, (2). Sejarah Bank, (3). Bank Indonesia, (4). Bank Umum, (5). Kegiatan Menerima Dana, (6). Kegiatan Menyalurkan Dana, (7). Kegiatan Layana Jasa,  (8). Bank Syariah, dan (9). BPR.  Dalam bab ini Penulis mencoba menghadirkan suatu hal yang baru dengan memadukan pengalaman dibidang profesional sebagai seorang karyawan di industri perbankan, finance dan pasar modal yang dikombinasikan dengan pengalaman sebagai akademisi dibeberapa perguruan tinggi selama belasan tahun lamanya. 
Pada bagaian kedua buku ini yang terdiri dari sebelas bab, yang membahas tentang lembaga keuangan non bank yang terdiri dari (1) Fintech, (2) Perusahaan Pembiayaan Insfrastruktur, (3) Leasing, (4). Anjak Piutang, (5). Kartu Kredit, (6). Modal Ventura, (7). Pegadaian,  (8). Asuransi, (9). Pasar Modal, (10). Pasar Uang dan Valuta Asing,  dan  (11) Dana Pensiun yang  juga tidak terlepas dari pengalaman penulis sebagai seorang profesional di bidang keuangan seperti di perusahaan Leasing, di bidang pasar modal, di bidang asuransi dan bidang keuangan lainnya yang pernah bersentuhan dengan pekerjaan yang lalu. 
Pada pembahasan bab 3 buku ini terdiri dari dua bab yang membahas tentang lembaga keuangan independen merupakan suatu hal yang baru secara terpisah dari lembaga keuangan bank dan non bank. Penulis menambahkan lembaga keuangan independen sebagai salah satu unsur dalam lembaga keuagan yang secara fungsinya tidak melakukan kegiatan menerima dana (saving), menyalurkan dana (lendingg/financing) dan melayani jasa  (service). Lembaga keuangan independen menjalankan fungsinya sebagai pengaturan, pengawasan, pemeriksaan dan penyidikan  serta penjamin kegiatan lembaga keuangan bank dan non bank.  Lembaga keuangan independen ini terdiri dari; (1).  Otoritas Jasa Keuangan (OJK) dan (2). Lembaga Penjamin Simpanan (LPS)). Penulis sangat menyadari bahwa buku ini belum sempurna dan setiap pekerjaan itu pasti ada kekurangannya, termasuk dalam hal penulisan buku ini. Masih  banyak  yang harus  penulis pelajari dan kuasai.   
Buku ini hadir setelah dua tahun berjalan dalam proses penulisannya. Terkadang energi menulis ini begitu besar, teradang juga surut  karena berbagai hal. Dengan kehadiran buku ini, penulis sangat mengharapkan dukungan doa dan pemikirannya untuk kembali menyiapkan buku tentang pengalaman sebagai Account Officer di perbankan syariah.  Semoga buku ini bermanfaat bagi seluruh pembaca yang budiman.  MERDEKA
Banjarmasin,  Desember 2019

SYAFRIL

Le cœur de l'ouvrage consiste en une présentation de la prohibition d'exploiter des informations d'initiés en droit américain, en droit européen ainsi que, de façon approfondie, en droit suisse. La partie de droit suisse traite autant l'interdiction du droit pénal (art. 154 LIMF) que du droit administratif (art. 142 LIMF). À cet égard, l'ouvrage couvre en particulier des thématiques brûlantes d'actualité comme la question de l'applicabilité de la prohibition au négoce de tokens cryptographiques, à l'industrie du high frequency trading, aux différentes formes de trading algorithmique ainsi qu'au short selling. Enfin, l'ouvrage se penche également sur la question du caractère justifié de l'interdiction d'exploiter des informations d'initié.

Podstawa faktyczna decyzji podatkowej zawiera okoliczności, które w poszukiwaniu i rekonstrukcji podatkowego stanu faktycznego organ podatkowy uznał za udowodnione i w oparciu o nie dokonał rozstrzygnięcia, wydając stosowne orzeczenie. Jest ona więc końcowym, a zarazem głównym efektem oceny dowodów dokonanej w całym postępowaniu podatkowym.

SUMMARY This article analyses the regulation of cross-border insolvency under the Cross-Border Insolvency Act 42 of 2000 1 in order to examine the adequacy of such regulation as regards to the enforcement of insolvency proceedings in South Africa and other relevant jurisdictions. To this end, the paper provides an overview analysis of the regulation and/or enforcement of insolvency proceedings under the Cross-Border Insolvency Act. Moreover, where possible, the paper also provides a comparative analysis of selected aspects of the regulation and/or enforcement of insolvency proceedings under the Cross-Border Insolvency Act and those that are provided under the Insolvency Act 24 of 1936 and other related international instruments. This is done to expose the challenges and future prospects of the regulatory and enforcement framework under the Cross-Border Insolvency Act in South Africa.

BREAKING: Evidenced Corruption and Collusion in Federal and Massachusetts State Courts - Recused/Disqualified Judges, Attorneys for Bank Defendants Wells Fargo/US Bank, Federal/State Prosecutors and the Deafening silence of Massachusetts Legislators, including Governor Charlie Baker (R-MA).... WHY you ask? In part, it's an effort to prevent legal precedent from being set that shows more than 60M illegally securitized mortgages in The United States are entirely VOID. Once the Courts initiate corrective action: (1) HARIHAR v US BANK et al (Docket No. 15-cv-11880, US District Court, Boston, MA); and (2) HARIHAR v WELLS FARGO, et al (Docket No. 1981-cv-00050, Middlesex Superior Court, Woburn, MA), stands to become landmark cases in US history - IF Defendants DO NOT wish to accept HARIHAR's GOOD FAITH Opportunity to reach a legal settlement agreement.

Let's see if any of the Defendants' Counsel (K&L Gates LLP, Nelson Mullins LLP, Rich May PC and Harmon Law Offices PC) respond by today's 5pm deadline (Wednesday, 05/13/2020). Either way, this litigation WILL move forward - and the WORLD is watching...

Banking and Financial Law are radically changing thanks to new technologies. In this paper, I try to offer a definition of blockchain and smart contracts, looking at the main features of these new tools and analyzing the recent action by the Italian legislator in order to define and regulate these new technologies, in the European context of reference.

“A performance guarantee stands on a similar footing to a letter of credit. A bank which gives a performance guarantee must honour that guarantee according to its terms...The only exception is when there is a clear fraud of which the bank has notice.” per Lord Denning MR in Edward Owen Engineering Ltd v Barclays Bank International Ltd [1978] QB 159.

Critically evaluate this statement. To what extent do you agree with it? Cite relevant case law and relevant articles from the ICC Uniform Customs and Practice for Documentary Credits (UCP 600) and Uniform Rules for Demand Guarantees (URDG 758) to support your arguments.

En la obra, a partir de una contextualización de los sectores bancarios español y europeo, se analizan los múltiples cambios que, en los últimos tiempos, han venido a afectar a la intervención sobre la banca, haciendo especial hincapié en la internacionalización del negocio y del marco regulatorio y supervisor.

En sede de este proceso de internacionalización del control sobre el sector crediticio destaca la implantación del Mecanismo Único de Supervisión que, imponiéndose frente a otras alternativas, ha supuesto la traslación de muy relevantes competencias supervisoras desde las autoridades nacionales hacia el Banco Central Europeo.

Esta europeización de competencias de fiscalización plantea diversas cuestiones, no pacíficas, a las que la obra pretende dar respuesta, como serían la suficiencia de la base jurídica escogida, el porqué de la elección del Banco Central Europeo como supervisor, el efectivo alcance subjetivo y territorial de la supervisión de la Unión, la eventual generación de duplicidades o la virtualidad de la aplicación de normas nacionales por parte de una institución comunitaria.

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Based on a contextualisation of the Spanish and European banking sectors, the book analyses the many changes that have recently affected intervention in the banking sector, with particular emphasis on the internationalisation of the business and of the regulatory and supervisory framework.

In the context of this process of internationalisation of control over the credit sector, the implementation of the Single Supervisory Mechanism stands out, which has entailed the transfer of very important supervisory powers from the national authorities to the European Central Bank.

This Europeanisation of supervisory powers raises a number of questions, not all of which have been resolved, to which the book aims to provide answers, such as the sufficiency of the legal basis chosen, the reason for the choice of the European Central Bank as supervisor, the effective subjective and territorial scope of the Union's supervision, the possible generation of duplication or the virtuality of the application of national rules by a Community institution.

Pendant des siècles, la représentation monétaire était limitée à sa forme numismatique, en recourant à des métaux précieux comme l'or ou l'argent, ou semi précieux comme le bronze, voire même à des alliages non précieux pour les pièces de plus faible valeur ; puis, avec les temps modernes, sont apparues la monnaie scripturale sous forme d'écritures comptables et la monnaie papier sous forme de billets de banque. Depuis le début du 19 e siècle, ces représentations fiduciaires et scripturales de la monnaie n'ont pas évolué. Mais à la fin du 20 e siècle, avec la dématérialisation et la digitalisation des modes de paiement et l'apparition de la monnaie électronique, la représentation de la monnaie a connu une évolution sensible. L'aube du 21 e siècle voit ce mouvement s'accélérer avec l'arrivée des crypto-monnaies et ses avatars que sont les stablecoins mais surtout les monnaies digitales des banques centrales (« CBDC »). Cette évolution constitue le pendant de la révolution numérique dans l'économie : alors que celle-ci se digitalise de plus en plus, dans le sens que les échanges commerciaux recourent au commerce numérique, la représentation monétaire doit s'adapter à cette digitalisation des échanges. De la même manière qu'il n'est plus possible de payer ces achats en monnaie fiduciaire dans une économie numérique, il sera bientôt archaïque de recourir à la monnaie scripturale ou même électronique dans une économie digitalisée. Autrement dit, la transformation d'une économie de biens et de services, même en partie dématérialisée, vers une économie digitale nécessite une adaptation des représentations monétaires. Depuis quelques années, on voit ainsi apparaître des crypto-monnaies, des stablecoins et on annonce l'apparition de monnaies digitales émises par les banques centrales. Qu'est-ce qui différencient ces nouvelles représentations monétaires entre elles ? Qu'est ce qui les distingue déjà des formes traditionnelles de monnaie que sont la monnaie fiduciaire et la monnaie scripturale, alors même que les différences entre ces nouvelles représentations monétaires sont parfois substantielles ? S'agissant des différences avec les représentations fiduciaires ou scripturales de la monnaie, le trait caractéristique tient en l'absence non seulement de corporalité de la représentation (pour la monnaie fiduciaire), mais surtout à la disparition de toute forme d'écriture tangible de la monnaie : celle-ci n'est plus un chiffre sur une ligne comptable, pas plus qu'une représentation chiffrée sur une pièce de monnaie ou un billet de banque. La monnaie est un code, le plus souvent alphanumérique, lié à un protocole informatique. Ce que certains appellent la troisième révolution graphique de l'histoire, après l'invention de l'écriture des langues et celle de l'écriture de la monnaie, et maintenant l'invention de l'écriture des réseaux ou encore de l'écriture réticulaire .

Abstrakti: Përmes këtij punimi kemi paraqitur sfidat kryesore që polikat fiskale kanë në
Kosovë dhe poashtu kemi paraqitur se cilat janë alternativat procedurale ligjore për ti
eliminuar defektet e politikave fiskale në Kosovë. Një nga sfidat kryesore që politikat fiskale në Kosovë janë duke u përballur në periudha të ndryshme të zhvillimit të shtetit janë harmonizimi i legjislacionit vendor me legjislacionin e BE-së lidhur me politikat fiskale. Parimisht Kosova ka përafrim të legjislacionit rreth politikave fiskale me BE-në, mirëpo paknaqësia lind këtu se tek ne aplikimi i këtyre dispozitave nuk bëhet në mënyrë profesionale dhe shpesh herë me ndërhyrje duke e shpërndarë buxhetin e shtetit nëpër rajone dhe komuna të ndryshme të cilat i sjellin më pak të hyra vendit sesa marrin buxhet dhe kjo politikë disbalancuese fiskale tek ne ka ndikuar shumë ne stabilitetin financiar dhe fiskal të vendit. Republika e Kosovës parimisht është shtet unitar dhe poashtu edhe të hyrat fiskale janë të koncentruara në buxhetin e shtetit,
mirëpo nuk kemi shpërndarje të barabartë nëpër regjionet apo komunat të cilat kanë
kontribuar në thithjen e tatimeve dhe taksave të ndryshme, duke u dërguar më shumë buxhet komnave të preferuara dhe këtu nuk kemi shkelje ligjore mirëpo kemi shkelje të parimeve të demokracisë, sepse ai që paguan më shumë tatime dhe taksa duhet edhe të merr më shumë të hyra buxhetore.

Fjalët kyçe: Politikat fiskale, harmonizimi i legjislacionit, stabilitet financiar dhe fiskal,
buxheti i shtetit, alternativa procedurale ligjore.

This paper is an exposition of salient principles of appellate practice and procedure in Nigeria. Particularly, it examines the Constitution and Judicial position on the issue of appeals to the Supreme Court on grounds of fact/ mixed law and fact

Its time when people have preferred to carry and execute a small piece of paper called cheque than carrying the currency worth the value of cheque. Dealings in cheques are vital not only for banking purposes but also for the commerce and industry and the economy of the country. Rhetorically therefore a truncated cheque system is injurious to the economic health of the country as the system of cheques is a matter, a subject that concerns everybody whether he is a man on the street, a layman, a business magnate, an industrialist, a banker or a member of bench or bar. One of the biggest problems, which we are facing in the smooth functioning of the cheque system, is Dishonor of cheques, which threatens the credibility of this negotiable instrument. The problem is becoming bigger with the passage of time. It is hindering smooth business transactions. The great hardship is caused to a person if a cheque issued in his favor is dishonoured due to insufficiency of funds in the account of the drawer of the cheque. To discourage this, the dishonour of certain cheques has been made an offence by an amendment of the Negotiable Instruments Act, 1881 by the Banking Public Financial Institutions and Negotiable Instrument Laws (Amendment) Act, 1988. After this amendment, a new chapter consisting of section 138 to 142 has been inserted in the Negotiable Instruments Act, 1881. Prior to the year 1988, the act of dishonor of cheque was treated as an offence under Indian Penal Code. Other remedy was to file a suit for recovery which was civil in nature and was dilatory. To ensure promptitude in remedy against defaulters and to ensure credibility of the holders of the negotiable instrument a criminal remedy of penalty was inserted in Negotiable Instruments Act, 1881. Bounced cheques are one of the most common offences plaguing the financing world. According to the Supreme Court, there are over 40 lakhs such pending cases in the country. Although, there have been a few amendments in the Act which has made the Act, a self contained statute, wherein provisions have been made to check the delays and to ensure speedy justice with more deterrent punishment, yet the problem of cheque bouncing is not decreasing. Moreover, the law is unnecessarily complicated and there is lack of provisions for forcing the appearance of the accused in the court. Though the amendments to the Negotiable Instruments Act, 1881 are helpful in dealing with the offence of bouncing of cheque, they are not fully proved successful in stopping the offence.

It is important to construe correctly what type of guarantee is involved in a particular matter, because di erent types give rise to di erent principles and consequences that may be vital in determining the outcome of a case. erefore, when a court is confronted with a matter involving an instrument described as a 'guarantee' or that contains a payment obligation/undertaking it is advisable

The Capital Conservation Buffer (CCoB) and the Countercyclical Capital Buffer (CCyB) are relatively new macroprudential instruments in the EU, aimed at improving the resilience of the banking sector in order to sustain the provision of credit to the real economy in periods of stress. The time-varying CCyB rate has a more complex setup and is used at the discretion of EU Member States compared to the non-cyclical, fixed requirement for the CCoB, which is harmonised at EU level. The EU legislative framework was amended in 2019 as part of a broader banking reform package, which made targeted improvements to certain macroprudential policy provisions. Directive (EU) 2019/878 (CRD V), inter alia, simplifies the CCyB notification process and expands the role of the European Systemic Risk Board (ESRB). The leading role in setting and implementing the CCyB still lies with the EU Member States and is now jointly exercised with the European Central Bank (ECB) in its capacity as macroprudential authority for the Member States covered by the Single Supervisory Mechanism (SSM).

Recently there has been the formalization of the “Socio-environmental Responsibility Policy”, incident about the internal and external activities of the institutions authorized to operate by Central Bank of Brazil. Those rules have established the guidelines to following in the organization and execution of the mentioned policy. Thus, this article aims to analyze the content and extent of those referred rules, addressing hence the importance of the financial market regulation and the role of the state in this area. For this objective, it is going to be passing through the study of the required and increasingly intense permeation of sustainability standards in the financial system, including by tracing the outlines of the rules institutionalized by CMN Resolution n. 4327/2014 and the Normative n. 14/ 2014, issued by Febraban.

In South African law the required standard of compliance regarding documents presented in terms of commercial letters of credit is unclear. It is presumed that the English law is followed. However, the English law is also not entirely clear as to the required standard of compliance for documents and demands required in terms of demand guarantees. Some English courts have expressed the view that as regards demand guarantees, the doctrine of strict compliance is not as strict as that demanded for letters of credit. In two recent South African cases it was argued that a less strict standard of compliance applies to demand guarantees in South Africa. English authorities were advanced to support this argument. However, this article shows that the exact application of the doctrine of strict compliance to demand guarantees under the English law is neither straightforward nor has it yet been fully established. The article examines these South African cases against the backdrop of the English cases.

Podstawa faktyczna rozstrzygnięcia podatkowego pomimo ustanowienia domniemania wiarygodności dokumentów urzędowych może być zbudowana z uwzględnieniem prawdy materialnej. Postępowanie podatkowe prowadzone z wykorzystaniem dokumentów urzędowych nie zawsze musi prowadzić do naruszenia zasady swobodnej oceny dowodów i zasady prawdy materialnej.

What effect will new laws regulating financial technologies (FinTech) have on sustainable development -- and particular the sustainable development goal (SDG) scores in the developing world? In this paper, we provide the first rigorous analysis of the literature predicting how FinTech might affect the SDGs. To test these effects, we use cross-country regression on a proxy of the quality/quantity of FinTech law, FinTech credit and select SDG sub-indicators which likely reflect the whole goal. We find -- if the past helps predict the future -- that FinTech legislating will have limited impact on the SDGs dealing with economic growth. New rules could have a larger impact on social and environmental outcomes, if laws and supporting public procurements are explicitly written with such outcomes in mind. In either case, government will still likely play a determining role. FinTech policy will likely exhibit the same U-shaped effect on sustainable development as other policies and practices dealing with the accumulation of capital. If the slate of SDG-related laws in the US in 2021/2022 risk doing too little, the EU’s buffet of sustainable finance law risks doing too much. We look at these laws in light of our findings.

Un état des lieux de l'utilisation des clauses d'élection de for dans les matières bancaire et financière semble utile pour trois raisons. Tout d'abord, l'importance des établissements de crédit ou institutions financières dans l'économie, au niveau mondial, est aujourd'hui incontestable. Sans banque, pas d'économie. Ensuite, ce rôle prééminent dans l'économie mondiale explique l'importance du rôle des établissements de crédit et institutions financières dans le contentieux international, quoique l'importance de ce contentieux ne soit pas proportionnelle au poids économique des transactions conclues avec ces établissements. Enfin, ce secteur se caractérise par des pratiques contractuelles spécifiques dans la formation des contrats, tels que les contrats de gré à gré (over the counter) où sont très largement utilisées des clauses « standards » rédigés dans des contrats-modèles (master agreement) ; contrats d'adhésion (pour convention de compte, prêts) ; contrats « d'un troisième type » lorsque l'opération se réalise par l'intermédiaire de marchés, lesquels sont imprégnés de l'application de règles économiques relatives à l'information et à la transparence du marché, reflétées notamment dans l'obligation-de principe-de publier un prospectus lors de l'émission de titres financiers. La pratique contractuelle est donc très diverse, car les intérêts en matière bancaire ou en matière financière sont eux-mêmes divers. Parmi cette pratique variée, un choix a nécessairement dû être exercé. Cette contribution met en exergue les trois tendances les plus marquantes propres à ce secteur quant à l'utilisation des clauses d'élection de for. En premier lieu, les clauses asymétriques révèlent la géométrie des rapports entre financeur et financé (I). En second lieu, l'uniformité fait aussi partie de la matrice bancaire et financière, car l'uniformité permet la rapidité et l'efficience économique en diminuant les coûts de négociation. L'uniformité a cependant ses limites, ce qu'une analyse du nouveau modèle de clause attributive de juridiction proposé dans le ISDA Master agreement de 2018 permettra de démontrer (II). En troisième et dernier lieu, il sera fait état des difficultés d'appréhension des clauses attributives de juridiction lorsque celles-ci sont invoquées à l'occasion de transactions réalisées sur les marchés financiers. Car une autre logique s'interpose alors, au-delà du principe d'autonomie de la volonté des parties, celle du marché (III).

Das europäische Recht der laufenden Bankaufsicht bezweckt neben dem Systemschutz zunehmend auch den Schutz individualisierbarer Kundengruppen, insbesondere der Einleger, Anleger und Verbraucher. Derzeit werden diese vor allem durch öffentlich-rechtliche Instrumente wie die Bankaufsicht der BaFin und EZB oder die gesetzliche Einlagensicherung geschützt, während ein privatrechtlicher Schutz nur punktuell besteht. In Anlehnung an die unionsrechtlichen Modelle des Wettbewerbs- und Kapitalmarktrechts untersucht Nikolai Badenhoop, ob und wie bankaufsichtsrechtliche Ziele und Pflichten mit Mitteln des Privatrechts durchgesetzt werden können. Das aufsichtsrechtliche Systemschutzziel beeinflusst durch die Pflicht zum Risikomanagement vor allem das Gesellschaftsrecht. Das Individualschutzziel spielt für die Vertragsauslegung und Schadensersatzansprüche im Kundenkontakt eine besondere Rolle. Da das europäische Bankaufsichtsrecht flächendeckend Individualschutzziele verfolgt, plädiert der Autor für eine unionsrechtskonforme Auslegung des Vertrags- und Deliktsrechts und damit für eine stärkere privatrechtliche Durchsetzung.

The prime objective of the study is to evaluate the performance of the commercial banks operated in Chittagong zone in COVID-19 situation.

The secondary objective is to analyze the financial performance of five commercial banks operated in Chittagong zone from January to June of 2020 by using financial ratios.

Purpose – Organisations utilise Business Continuity Management (BCM) to support sustained performance of electronic systems on which their core activities are based. These organisations require a tool that can be used to assess the maturity of their existing BCM processes. Through the examination of the banking sector of the United Arab Emirates, the purpose of this paper is to address the need for a BCM maturity model.

Design/methodology/approach – A tailored BCM maturity model was developed using a two-stage approach; the first stage was developing a model based on the analysis of five existing models; and the second stage was validation of the developed model against the formulated objectives through the use of focus groups with ten UAE banks, comprising of three BCM experts for each bank.

Findings – The research found that the provision of a standard maturity model for BCM as a situational analysis tool for the banking sector is functional and can be the basis of a tool to address the gap in organisations in general to assess the maturity level of their BCM processes.

Research limitations/implications – The developed model is limited to validation within a specific sector and geographically, with generic model validation being outside the scope of this research.

Practical implications – The framework provides different areas to which maturity can be assigned, various levels across quality and scope and how an overall BCM maturity of an organisation can be determined.

Originality/value – The development of a maturity model which could be used as a BCM self analysis tool is a significant addition to the BCM knowledge base.

The study investigates the influence of financial development on non-performing loans using a global sample. The findings indicate that two financial development proxies, foreign bank presence and financial intermediation, are positively associated with non-performing loans. Among the determinants of non-performing loans, bank efficiency, loan loss coverage ratio, competition and banking system stability are inversely associated with NPLs while NPLs are positively associated with banking crises and bank concentration. In the regional analysis, NPLs are negatively associated with regulatory capital and bank liquidity, implying that banking sectors with greater regulatory capital and liquidity experience fewer NPLs. National bank regulators/supervisor should not only take into account the role that financial development structures play in influencing aggregate non-performing loans but should also ensure that thorough supervision of the lending practices of banks is in place as well as the active monitoring of the financial intermediation process in the country.