Law and Regulation of Finance, The

In-depth, practical and up-to-date, The Law and Regulation of Finance provides a comprehensive account of the law of finance.

Covering every major financial market, including foreign exchange, stock-lending and repos, this book provides a uniquely in-depth overview of derivatives and securities regulation.

The new edition explains the EU and UK regulatory systems, including the changes made to the UK financial regulatory system by the Financial Services Act 2012 and the Banking Act 2009. It also considers each of the principal financial markets, their standard market documentation, and the way in which the law and regulation applies to them.

New to the 2nd edition:

• A full analysis of the regulatory changes in the UK: the new Financial Conduct Authority and Prudential Regulatory Authority, and the Financial Policy Committee
• Analysis of the Financial Services (Banking Reform) Bill 2013
• A full analysis of EU developments, especially the Larosiere Report; the introduction of the regulation of derivatives, and the changes effected by EMIR and MIFIR; the Alternative Investment Fund Managers Directive
• The litigation and criminal prosecutions stemming from the financial crisis; and a full analysis of the various strains of litigation which have resulted from the crisis and its aftermath
• Approximately 100 new cases analysed
• Increased coverage of the interpretation of contracts and insolvency law

Section1 - Principles of the Law of Finance

Part I - An Ordering of the Law of Finance

1. The Components of the Law of Finance
2. The legal nature of money and financial instruments
3. The relationship between substantive law and financial regulation

Part II - Substantive Legal Concepts in the Law of Finance

4. Fundamental legal concepts: contract, property and wrongs
5. Fiduciary duties
6. Conflict of laws

Part III - Financal Services Regulation

7. EU financial regulation
8. UK financial regulation (1): the Financial Services Authority
9. UK financial regulation (2): specifics of UK financial regulation
10. Conduct of business
11. Financial promotion
12. Market Abuse

Part IV - Criminal Law

13. Criminal offences in the Law of Finance
14. Insider dealing
15. Money laundering
16. Fraud in the Criminal Law

Part V - Contract

17. Formation of contracts
18. Validity of contracts
19. Master agreements and common contractual terms and conditions
20. Termination of contracts

Part VI - Property

21. Ownership of money and financial instruments
22. Trusts
23. Taking security and insolvency
24. Tracing and propriety claims

Part VII - Wrongs

25. Fraud and undue influence
26. Negligence and other liability in tort
27. Breach of trust

Section 2 - Specific Financial Techniques
Part VIII - Banking

28. Fundamentals of banking law
29. Banking regulation
30. The banker and customer relationship
31. Payment methods
32. Retail banking and conduct of business regulation

Part IX - Lending

33. Ordinary lending
34. Syndicated lending
35. Bonds
36. Foreign Exchange

Part X - Stakeholding

37. The fundamentals of UK securities law
38. Prospectuses and transparency obligations
39. Official listing of securities 1: principles of listing
40. Official listing of securities 2: admission and maintenance of listing
41. Liability for securities issues
42. Acquisitions

Part XI - Financial Derivatives and Refinancing

43. Financial derivatives products
44. Documentation of financial derivatives
45. Collateralisation
46. Termination of financial derivatives
47. Securitisation

Part XII - Proprietary Finance

48. Property Finance
49. Mortgages
50. Stock-lending and "repo" transactions

Part XIII - Collective Investment Entities

51. Communal investment models
52. Collective investment schemes
53. Friendly societies and unincorporated associations
54. Co-operatives and credit unions
55. Occupational pension funds
56. Insurance regulation

Part XIV - Crisis and reform

57. The financial crisis and its aftermath

The 2nd edition:

• Explains the new UK regulatory regime, and the developing landscape in EU financial regulation. The full range of financial regulation is analyse from conduct of business and financial promotion, through to micro-prudential regulation, macro-prudential regulation and the regulation of market abuse
• Considers the new attitude to criminal activity in financial markets, encompassing insider dealing, money laundering and fraud
• Deals with contract