Brill Research Perspectives in International Banking and Securities Law最新文献

{"title":"Key Regulatory Initiatives in EU Sustainable Banking","authors":"Alexandra-Cristina Hanganu","doi":"10.1163/9789004543195","DOIUrl":"https://doi.org/10.1163/9789004543195","url":null,"abstract":"\u0000With temperature exhibiting a growing trend and posing threats to future generations, the Paris Agreement set a cap level of no more than 2°C for the temperature increase, emphasizing the need for cross-national participation to combat climate change. At the European level, the European Commission pledged to make Europe achieve carbon neutrality by mid-century. However, to deliver on its commitment, extensive financial support and engagement from both private and public-sector players were acknowledged as requisites. Therefore, through their funding mechanism, banks assumed a leading role in financing the transition to a green economy. Yet, a new challenge of systemic nature – i.e. ESG risks – emerged, gaining regulatory attention and subsequently triggering numerous regulatory reforms. To date, the focus at the European level rests on the development of a comprehensive definition of ESG risks as well as of a system to identify activities in scope, i.e. the EU Taxonomy that can be nonetheless assessed as the core regulatory framework on which amendments that followed were based. To address the dynamics of the regulatory landscape and to ensure compliance, banks undertook several strategic changes. Not only that they adjusted the offered products and services, but they also amended their governance structures. Specifically, a clear shift could have been identified from employing profit maximization strategies to conducting activities that serve the interests of not only shareholders but a broader category of stakeholders including the general public as well as the surrounding environment. Following the implementation of sustainability-related strategic initiatives, changes in banks’ performance and their risk-taking capabilities could have been identified. Therefore, aiming to explore the extent to which ESG consideration can be considered as a strategic opportunity, or contrastingly a challenge, mixed opinions were acknowledged pointing towards the complexity of the topic at hand, complexities which are enhanced by the topic’s novelty as well as by the uncertain and convoluted nature of the EU regulatory environment addressing sustainability.","PeriodicalId":123729,"journal":{"name":"Brill Research Perspectives in International Banking and Securities Law","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120966488","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Transparency and Information Asymmetry in Financial Markets","authors":"Daniel Bar Aharon","doi":"10.1163/9789004549074","DOIUrl":"https://doi.org/10.1163/9789004549074","url":null,"abstract":"\u0000The paper deals with the application of aspects of behavioral finance in the context of investor protection reflected in EU financial regulation which puts an emphasis on disclosure requirements. Traditionally, financial regulatory frameworks maintain a status que assumption of “rational investors” contained within neoclassical economic theory, however reoccurring financial incidents have exposed a critical flaw in this understanding, consequently requiring a further examination of behavioral aspects within the context of financial regulation. It remains ambiguous how regulators may best use findings from behavioral finance to address flaws in their investor protection tools. Furthermore, neither expanding disclosure obligations nor enforcing a tougher paternalistic approach may suffice in their intent.","PeriodicalId":123729,"journal":{"name":"Brill Research Perspectives in International Banking and Securities Law","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132451783","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"FX Law and Regulations in Korea: Problems and Prospects","authors":"Min-woo Kang","doi":"10.1163/24056936-12340011","DOIUrl":"https://doi.org/10.1163/24056936-12340011","url":null,"abstract":"\u0000The last two decades of the Korean foreign exchange market regulations, especially aftermath the 1997 Asian financial crisis, can be characterised by an increased emphasis on the capital account liberalisation and deregulation. Although several new types of regulatory measures were implemented to enhance market resilience in the midst of the 2008 global financial crisis, strict control measures were largely eased in order to facilitate cross border trades. However, there are still many remaining unresolved problems and the rapidly changing financial environment poses new challenges for legal institutions surrounding the foreign exchange market. This contribution aims to shed some light on the Korean government’s efforts to facilitate foreign transactions, while maintaining equilibrium in the balance of payments and stabilising the value of currency by regulating the external shock-sensitive market. It also offers some insight for the authorities to consider to improve the legal system by providing an in-depth analysis of the recent notable changes in the regulatory landscape.","PeriodicalId":123729,"journal":{"name":"Brill Research Perspectives in International Banking and Securities Law","volume":"21 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133810833","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Reform of Banking Laws and Regulations in Iran","authors":"A. Atai","doi":"10.1163/24056936-12340009","DOIUrl":"https://doi.org/10.1163/24056936-12340009","url":null,"abstract":"\u0000The law reform process entails government policies and plans for the liberalization, privatization and deregulations of the economy including the banking and money markets. The International financial institutions (IFIs), International Development Agencies (IDAs) and the International Financial Architecture have pioneered law reform initiatives based on the rule of law practice and good governance. The dominant theory advocated by Perry-kessaris postulates that a sound legal system is attractive for foreign direct investment (FDI). The bilateral investment treaties (BITs) contain international law standards which can be used as a model for reforming laws and institutions in the host state including prudential regulation of banking and finance. Iran – a resource-rich country has signed many BITs with capital-exporting countries indicating its willingness to enforce the rule of law on the international level.","PeriodicalId":123729,"journal":{"name":"Brill Research Perspectives in International Banking and Securities Law","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129721929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Abbreviations","authors":"","doi":"10.1163/24056936-12340004-02","DOIUrl":"https://doi.org/10.1163/24056936-12340004-02","url":null,"abstract":"","PeriodicalId":123729,"journal":{"name":"Brill Research Perspectives in International Banking and Securities Law","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121663531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Over-the-Counter Derivatives Regulation in Hong Kong and Singapore","authors":"C. Chen","doi":"10.1163/24056936-12340006","DOIUrl":"https://doi.org/10.1163/24056936-12340006","url":null,"abstract":"\u0000In this article, Dr Christopher Chen examines and compares the regulation of over-the-counter derivatives in Hong Kong and Singapore, the two largest international financial centres in Asia Pacific. Dr Chen analyses current or proposed regulations on trade reporting, centralised clearing and mandatory exchange trading mandates regarding OTC derivatives against the backdrop of reforms of international financial regulatory structure after the global financial crisis. The article also relates the reforms in Asia to development in major Western markets such as the U.S., U.K. or European Union. Apart from technical comparison and dissecting of content of rules from different angles, this article also examines the rationale behind those reforms and policy concerns behind Asian adoption of the regulatory mandates prescribed by G20 as well as potential policy concerns (such as competition and extraterritoriality) in a market that is dominated by Western banks.","PeriodicalId":123729,"journal":{"name":"Brill Research Perspectives in International Banking and Securities Law","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121426378","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}