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Yeowart and Parsons on the Law of Financial Collateral

Buch | Hardcover
904 Seiten
2016
Edward Elgar Publishing Ltd (Verlag)
978-1-78254-631-3 (ISBN)
CHF 479,95 inkl. MwSt
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As the volume of transactions in European financial markets continues to grow, the use of financial collateral, be it in the form of cash, shares, bonds or credit claims, has become a critical tool in supporting and managing risk in financial transactions.This book is the first of its kind to offer a systematic examination of the whole law relating to financial collateral. It does so in two parts. First, it explains the law created by the Financial Collateral Arrangements (No 2) Regulations 2003, the Directive it implemented and related legislation. Second, it examines how financial collateral is used in practice in a range of different markets. It will be an essential reference point for all legal practitioners operating in financial markets.

Key features:



Analytical rigour combined with insight into how financial collateral works in practice, covering both English and Scots law
Valuable discussion of control and possession tests, right of use, remedy of appropriation, close-out netting and impact of 'bail-in'
Explains use of financial collateral in the derivatives market, clearing houses, direct and indirect securities holding systems and use of repos, securities lending and prime brokerage
Highlights key issues on regulatory treatment and conflicts of laws
Discusses direction of future law reform
Written by leading experts in the field.

Geoffrey Yeowart, Hogan Lovells International LLP and Robin Parsons, formerly Sidley Austin LLP with Edward Murray, Allen & Overy LLP and Hamish Patrick, Shepherd and Wedderburn LLP, UK

Contents: PART I FINANCIAL COLLATERAL DIRECTIVE AND UK IMPLEMENTING REGULATIONS 1. Purpose of the Financial Collateral Directive, The Legislative Background and Key Issues Addressed by the Directive 2. Scope of the Financial Collateral Regulations 3. The Types of Financial Collateral: Cash, Financial Instruments and Credit Claims 4. Formal Requirements Disapplied by the Financial Collateral Regulations and Extent of Exemption from those Requirements 5. Impact of UK Insolvency Law and Bank Resolution Measures and the Extent to Which These are Disapplied in Relation to Financial Collateral Arrangements 6. Title Transfer Financial Collateral Arrangements 7. Security Financial Collateral Arrangements 8. Possession or Control Test to be Satisfied When Creating a Security Financial Collateral Arrangement 9. Extent to Which a Collateral-Provider May be Permitted to Exercise Rights Attaching to Charged Securities, Such as Voting Rights and the Right to Receive Income, if the Possession or Control Test is to be Satisfied 10. Close-out Netting Provisions and the Financial Collateral Regulations 11. The Right of Use and the Legal Consequences of its Exercise, Including Issues of Priority 12. Remedy of Appropriation 13. Financial Collateral and the Conflict of Laws 14. Retroactivity of the Financial Collateral Regulations PART II USE OF FINANCIAL COLLATERAL 15. Taking and Perfecting Security over Financial Collateral 16. Use of Securities Held in the CREST System as Collateral 17. Use of Close Out Netting and Financial Collateral in Relation to Derivatives (Including ISDA Documentation) 18. Special Issues Arising from the Use of Financial Collateral in Repos, Securities Lending and Prime Brokerage, Including Treatment of Client Assets and Use of Market Standard Documentation (Other Than ISDA Documentation) 19. Use of Book Entry Securities as Collateral 20. Use of Financial Collateral in UK Clearing Houses 21. Use of Contractual Set-Off and Flawed-Asset Arrangements for Taking Cash Collateral 22. Regulatory Treatment of Financial Collateral Arrangements; Margin Requirements for Non-Centrally Cleared Derivatives; and Reporting of Securities Financing Transactions 23. Scottish Law Perspective on the Financial Collateral Regulations and Their Application 24. Law Reform APPENDICES Index

Erscheinungsdatum
Reihe/Serie Elgar Financial Law and Practice series
Co-Autor Edward Murray, Hamish Patrick
Verlagsort Cheltenham
Sprache englisch
Maße 169 x 244 mm
Themenwelt Recht / Steuern EU / Internationales Recht
Recht / Steuern Wirtschaftsrecht Bank- und Kapitalmarktrecht
ISBN-10 1-78254-631-6 / 1782546316
ISBN-13 978-1-78254-631-3 / 9781782546313
Zustand Neuware
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