Full Description
Banking has a global reach and ambition. It is also a heavily regulated industry. Simply staying abreast of the ongoing developments of the business and its regulatory environment is a challenge, even for the most dedicated specialist, let alone anticipating future change. Technological developments constantly threaten to disrupt the industry, but it remains difficult to predict whether, when or to what extent this will happen and how regulators will address the resulting challenges. Fintech has already triggered initiatives for regulatory change in numerous jurisdictions, but developments continue at a breathtaking pace. Furthermore, intermittent scandals and crises prompt regulators and lawmakers to launch new regulatory initiatives. For the legal practitioner, it is therefore important to look past the buzzwords and perform a thorough analysis from a legal and regulatory perspective in each individual case, futureproofing the advice given whenever possible.
This is where this book comes in. It provides general counsels, lawyers and regulators with a comprehensive insight into banking regulation in 20 jurisdictions around the world. The chapters have been written by leading practitioners in each jurisdiction, who provide their analysis and views on the current state of regulation and ongoing developments. To facilitate comparisons, the structure of each chapter is the same: it starts by introducing the reader to the architecture of the banking regulation in each jurisdiction, covering both the rules that are applicable to banks and the regulators in charge of supervising and enforcing them, followed by an overview of new trends and legal developments in banking and related areas.
The authors further address the key governance requirements, as well as aspects of internal control and risk management for financial institutions. The chapters extend to presenting regulatory capital requirements, analysing the role of national and international standards in defining these requirements, as well as the impact of international initiatives to improve capital and liquidity requirements in the jurisdictions that are surveyed. Finally, customer protection regulations are reviewed, covering not only rules that apply to the conduct of banks when dealing with clients, but also rules on cross-border services and anti-money laundering initiatives.
Overall, our hope is that this book will prove a stimulating and insightful read, which will prepare banks and their advisers not only to overcome but to master the challenges they and their clients are facing at a local and global level.
Contents
Preface
Peter Ch. Hsu & Daniel Flühmann
Bär & Karrer
Jurisdiction Chapters
1 Argentina
Javier Luis Magnasco, Franco Nicolás Montiel & Nicolás Gabriel Funes Rizzo
Beccar Varela
10 Austria
Stefan Frank, Julia Otto, Lucy Probst & Lukas Piskin
Binder Grösswang Rechtsanwälte GmbH
21 Bermuda
Simon Benedek & Stebin Sam
Kennedys Chudleigh Ltd
30 Brazil
Luiz Roberto de Assis, Fabio Kupfermann Rodarte & Pedro Campos Ferraz
Levy & Salomão Advogados
42 Canada
Pat Forgione, Alex Ricchetti & Shaniel Lewis
McMillan LLP
55 Chile
Diego Peralta, Fernando Noriega, Diego Lasagna & Felipe Reyes
Carey
64 France
Arnaud Pince
Almain AARPI
75 Ghana
Selasie Atuwo, Kwabena Oppong-Kyekyeku, Nancy Bonsing & Lily Oblie
OAKS Legal
91 Ireland
Josh Hogan & David O'Keeffe Ioiart
McCann FitzGerald LLP
106 Japan
Koji Kanazawa & Katsuya Hongyo
Chuo Sogo LPC
117 Liechtenstein
Daniel Damjanovic, Sonja Schwaighofer & Antonia Wittwer-Tschohl
Marxer & Partner, attorneys-at-law
129 Lithuania
Donatas Šliora & Marius Matiukas
ADON legal
138 Luxembourg
Andreas Heinzmann, Hawa Mahamoud & Eva Jean
GSK Stockmann
155 Mexico
Andrés Nieto Sánchez de Tagle, Gunter Maertens & Regina Soto Antón
Assembla, S.C.
164 Singapore
Ting Chi Yen & Cheryl Eio Yi Yun
Joseph Tan Jude Benny LLP
176 South Africa
Natalie Scott & Slade van Rooyen
Werksmans Attorneys
189 Switzerland
Peter Ch. Hsu & Daniel Flühmann
Bär & Karrer
207 Taiwan
Robin Chang & Andrea Chen
Lee and Li, Attorneys-at-Law
218 United Kingdom
Alastair Holt & Simon Treacy
Linklaters
230 USA
Benjamin Saul, Tarrian Ellis & Vito Arethusa
Steptoe LLP
