This is the seventh edition of the leading work on transnational and comparative commercial, financial, and trade law, covering a wide range of complex topics in the modern law of international commerce and finance. As a guide for students and practitioners it has proven to be unrivalled. The work is divided into three volumes, each of which can be used independently or as part of the complete work.
Volume 3 deals with financial products and financial services; the structure and operation of banking and of the capital markets; the role of modern commercial and investment banks; and financial risk, stability and regulation, including the fallout from the 2008 financial crisis and the subsequent regulatory responses in the US and Europe. In sections on products and services, the blockchain and its potential are noted in the payment system, in the custodial holdings of investment securities, and in the derivative markets. A section on regulation critically reviews the need for macro-prudential supervision and an independent macro-prudential supervisor, the role of resolution authorities, the operation of the shadow banking system, and the extraterritorial reach and international recognition of financial regulation.
All three volumes may be purchased separately or as part of a single set.
Chapter 1: Financial Products and Services
Part I Secured Transactions, Finance Sales and Other Financial Products and Services
1.1 Civil and Common Law Approaches to Financial Law. Credit Cultures and Transnationalisation
1.2 The Situation in the Netherlands
1.3 The Situation in France
1.4 The Situation in Germany
1.5 The Situation in the UK
1.6 The Situation in the US
Part II Financial Products and Funding Techniques. Private, Regulatory and International Aspects
2.1 Finance Sales as Distinguished from Secured Transactions: The Re-characterisation Risk
2.2 Modern Security Interests: The Example of the Floating Charge
2.3 Receivable Financing and Factoring. The 1988 UNIDROIT Factoring Convention and the 2001 UNCITRAL Convention on the Assignment of Receivables in International Trade
2.4 Modern Finance Sales: The Example of the Finance Lease. The 1988 UNIDROIT Leasing Convention
2.5 Asset Securitisation and Credit Derivatives. Covered Bonds
2.6 Options, Futures and Swaps. Their Use and Transfers. The Operation of Derivatives Markets, Clearing and Settlement and the Function of Central Counterparties
2.7 Institutional Investment Management, Funds, Fund Management and Prime Brokerage
Part III Payments, Modern Payment Methods and Systems. Set-off and Netting as Ways of Payment. International Payments. Money Laundering
3.1 Payments, Payment Systems. Money and Bank Accounts
3.2 The Principles and Importance of Set-off and Netting
3.3 Traditional Forms of International Payment
3.4 Money Laundering
Part IV Security Entitlements and Their Transfers through Securities Accounts. Securities Repos
4.1 Investment Securities Entitlements and Their Transfers. Securities Shorting, Borrowing and Repledging. Clearing and Settlement of Investment Securities
4.2 Investment Securities Repos
Chapter 2: Financial Risk, Financial Stability and the Role of Financial Regulation
Part I Financial Services, Financial Service Providers, Financial Risk and Financial Regulation
1.1 Financial Services and Their Regulation
1.2 International Aspects of Financial Regulation
1.3 The 2008 Financial Crisis and its Effect on Financial Regulation
1.4 The Essentials of Commercial Banking
1.5 Capital Markets. The Essentials of the Investment Securities Business and its Regulation
Part II International Aspects of Financial Services Regulation: The Effects of Globalisation and the Autonomy of the International Capital Markets. The Developments in GATT/WTO,
the EU and BIS/IOSCO/IAIS
2.1 The Globalisation of the Financial Markets and the Informal Liberalisation of Finance
2.2 The Formal Regime for the Freeing of the Movement of Goods, Services, Current Payments and Capital After World War II
2.3 The Creation of the EEC in Europe and its Evolution into the EU
2.4 The Effects of Autonomous Globalisation Forces on Financial Activity and its Regulation in the EU
2.5 Developments in the BIS, IOSCO and IAIS. The International Harmonisation of the Capital Adequacy Regime (Basel I, II and III)
Part III The EU Regulations and Directives Concerning the Internal Market in Financial Services: Early Action, the European Passport, the 1998 EU Action Plan for a Single Market in Financial Services, and Further Action Following the 2008 Financial Crisis
3.1 Early EU Concerns and Action in the Regulated Financial Service Industries
3.2 The Early EU Achievements in the Regulation of Financial Services
3.3 The European Passport for the Financial Services Industry
3.4 The 1998 EU Action Plan for Financial Services
3.5 The Details of the Third Generation Directives and Their Revamping Under the 1998 Action Plan. The Period up to the 2008 Financial Crisis and the Continuation of the Basic Framework
3.6 Other EU Regulatory Initiatives in the Financial Area
3.7 The EU During and After the 2008 Financial Storm
4.1 The European Banking Union
5.1 Summary, Evaluation and Conclusion
José Ramón Álvarez Rodríguez es Inspector Jefe del Cuerpo Nacional de Policía. Licenciado y Doctorado en Derecho
