Regulation of Financial Services

Name: Regulation of Financial Services | The Comparative Law Yearbook of International Business, Special Issue, 2013
Brand: Kluwer Law International
Price: 237.99 EUR
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The Comparative Law Yearbook of International Business, Special Issue, 2013

Kluwer Law International (Verlag)

Erschienen am 13. Mai 2013

434 Seiten

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Inhalt

Cover
Half Title Page
Title Page
Copyright Page
Table of Contents
Editor's Note
Brazil
Introduction
Structure of the Financial System
Applicable Legislation
Regulatory Bodies
Definitions
Regulated Financial Services
Banking Law and Consumer Protection
Financial Services for Foreign Investors
In General
Remittance Flows from and into Brazil
Foreign Investments in Brazil
Opening a Non-Resident Bank Account
Regulators of the Banking and Securities Sectors
Functions and Powers of the Central Bank
Penalties for Non-Compliance
Functions and Powers of the Securities Commission
Penalties for Non-Conformance
Electronic Commerce and Electronic Payment Platforms
Conclusion
Bulgaria
Introduction
Banking
Governance and Representation of Banks
Applicable Legislation
Capital and Reserve Funds
Capital Adequacy Ratio and Exposure
Liquidity Management and Supervision
Payment Service Providers
Bank Deposits and Bank Loans
Capital Markets
Legislative Framework
Public Offerings of Securities Act
Markets in Financial Instruments Act
Commodity Exchanges and Commodity Markets Act
Insurance
Measures against Money Laundering
Conclusion
China
Introduction
Regulatory Framework
Regulatory Framework of the Banking Sector
Regulation of the Insurance Sector
Key Regulatory Bodies in the Financial Sector
People's Bank of China
Ministry of Finance
China Banking Regulatory Commission
Ministry of Commerce
State Administration of Industry and Commerce
State Administration of Foreign Exchange
The People's Bank of China's Recent Monetary Policies and Impact
China Insurance Regulatory Commission
Market Structure and Players in the Financial Sector
Key Market Players in the Banking Sector
Major Domestic Market Players in the Insurance Sector
Business Operation Rules in the Financial Sector
Key Business Operational Rules for Commercial Banks
Operational Rules for Insurance Companies
Foreign Investment in Financial Sectors
The Banking Sector and Foreign-Funded Banks
Foreign Investment in the Insurance Sector
Old Problems or New Challenges - Chinese Puzzle of the Banking Sector after the Financial Crisis
Effects of Commercialization
Policy-Oriented" Commercial Banks and Quality of Loans
Local Governments' Debt Crisis
Regulatory and Macroeconomic Policies
Conclusion
Germany
Introduction
Definition and Types of Financial Services
Players in the Financial Services Sector
Providers of Financial Services
Institutional and Private Investors of Capital
Financial Market Supervision
Statutory Framework for Financial Services
Banking Act
Securities Trading Act
Qualification and Reliability Requirements for Freelance Intermediaries or Brokers
Regulations on the Selling and Marketing of Investment Unit Certificates
Regulations on Doorstep Selling and Distance Contracts
Obligation to Publish a Prospectus and Prospectus Liability
Liability under General Civil Law for Providing Incorrect Advice
Proposed Reforms
Introduction of a Financial Market Transaction Tax
Draft Law to Strengthen German Financial Supervision
Implementation of Basel III
Reforms at the European Level
Indonesia
Introduction
Historical Background
Distinction between Banking and Financial Services
Supervision of Banking and Financial Services
Applicable Legislation on Financial Services
Financial Services under Presidential Regulation Number 9
Types of Financial Institutions
Financing Companies
Venture Capital Companies
Infrastructure Financing Companies
Insurance as a Financial Service under the Insurance Law
Categories of Insurance Companies
Limitations on Insurance Activities
Supervision by the Minister of Finance
Conclusion
Italy
Introduction
Legal and Regulatory Framework
Financial Service Providers
Financial Intermediaries
Reserved Activities
Authorization
European Financial Intermediaries
Obligations
Payment Services Institutions
Reserved Activities
Authorization
Italian Branch of European Payment Institutions
Obligations
Subsidiaries and Agents
Electronic Money Institutions
Reserved Activities
Authorization
Italian Branch of European Electronic Money Institutions
Obligations
Subsidiaries and Agents
Use of "Authorized Persons
Conclusion
Mexico
Introduction
In General
Federal and State Regulation
Deregulation (Non-Banking Financial Agents)
Regulators
In General
Ministry of Finance and Public Credit
Bank of Mexico
Banking and Securities National Commission
Insurance and Bonds National Commission
Banking
In General
Regulated Activities
Safety and Soundness Regulation
Corporate Governance
Foreign Ownership
Reporting Requirements
Reorganization of Banks
Deposit Insurance
Banking Secrecy
Securities
Historical Background
Regulatory Scheme
Securities Trading
Brokerage Firms
Stock Exchanges
Depository Institutions
Clearing Houses
Rating Agencies
Registration and Offering of Securities
Registration
Public Offering
Mutual and Hedge Funds
Mutual Funds
Hedge Funds
Insurance
Regulatory Framework
Regulators
Corporate Governance
Insurance Activities
Insurance Compliance
Other Aspects of Financial Regulation
Money Laundering Regulations
Financial Consumer Protection
Class Actions
Privacy and Disclosure
Current Initiatives in Financial Regulation
In General
Banking Agents
Mobile Accounts and Payments
Conclusion
Portugal
Introduction
Financial Services
Banking Activities
Investment Activities
Types of Financial Entities
Regulatory Procedure for the Performance of Financial Services
Authorization
Subsequent Formalities
Final Registration
Performance of Financial Services by Non-Domiciled Financial Entities
In General
Subsidiary
Branch
Crossborder Services
Representative Office
Supervision of Financial Services
Supervision by the Bank of Portugal
Supervision by the Securities Market Commission
Insolvency Regime and Compensation Schemes
Reorganization and Winding Up of Financial Entities
Deposit Guarantee Fund and Resolution Fund
Investor Compensation Scheme
Conclusion
Romania
Introduction
The Banking System
The National Bank of Romania
Credit Institutions
Non-Banking Financial Institutions
Capital Markets
Legal Framework
Regulated Markets
The National Securities Commission
Listing of Securities
Special Governance Rules for Public Companies
Market Transparency and Investor Equality
Market Abuse
Investment Services and Activities
Conclusion
Spain
Introduction
The Financial Services Market and the Wyman Report
Current Status of the Financial Services Market and the 2012 Reform
The Wyman Report
Legal Features of the Debt Market in 2012
Significant Features
Refinancing and Restructuring Market
Nationalization of Bankia
Non-Performing Loans Market
Limitations on Deducting Financial Costs
The Code of Good Practice
Key Reforms of the Financial Market
First Reform: Royal Decree-Law Number 2/2012
Second Reform: Royal Decree-Law Number 24/2012
The "Bad Bank" for Toxic Property Assets
General Overview
Creation of Sareb
Conclusion
Switzerland
Introduction
Regulatory Framework
Legal Framework
Regulatory Bodies
Regulated Activities
Banks
Qualifying Financial Institutions
Crossborder Banking
Banking Secrecy
Outsourcing
Obtaining a Banking License
Securities Dealers
Collective Investment Schemes
Overview
Authorization and Licensing Requirements
Asset Management for an Investment Fund
Distribution of Shares or Units of Investment Funds
Independent Asset Manager
Recent Developments
The Swiss Bank Insolvency Regime
Revision of the Deposit Protection Scheme
New Bridge Bank Legislation
New Too-Big-to-Fail Legislation
Retrocessions
Conclusion
Turkey
Introduction
Overview of the Financial System
The Progress Report of the European Commission
Banking
Background and Current Status
Restructuring of the Turkish Banking Sector
Banking Legislation
Regulatory Institutions
Insurance
Overview
Types of Insurance
Insurance Legislation
Regulatory Institutions
Individual Pension System
Capital Markets
Overview
Contribution to the Turkish Economy
Capital Market Legislation
Capital Market Activities and Institutions
Conclusion
United Kingdom
Introduction
The New Approach to Financial Regulation
In General
The Financial Policy Committee
The Prudential Regulatory Authority
The Financial Conduct Authority
Regulatory Structure under the Financial Services and Markets Act
The Impact of European Legislation
In General
Market in Financial Investment Directive
Insurance Mediation Directive
Market Abuse Directive and Insider Dealing
Alternative Investment Fund Managers Directive
Payment Services Directive
Regulation of Consumer Credit
Index
Back Cover

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