Download or read book The Wheatley Review of LIBOR written by Great Britain. Treasury and published by . This book was released on 2012 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Benchmarking Islamic Finance written by Mohd Ma'Sum Billah and published by Routledge. This book was released on 2021-07-14 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pricing or benchmarking is a process of evaluating the performance of a financial company’s products and services or systems, against other businesses, considered to be at the top of their field, by applying a measurement of “best in performance.” This book includes contributions from the leading global experts in the field who tackle topics such as whether the Islamic financial system has been dependent on the LIBOR / EURIBOR in its benchmarking exercises to date, and thus, whether it will be affected negatively by the predicted non-existence of the LIBOR / EURIBOR from 2021 onwards. They also address the question of whether the Islamic financial system requires benchmarking of its products and services and consider the emergence of Sharī ͑ah-justified benchmarking in today’s Islamic financial system. Additionally, they look at how benchmarking formulas should be adapted to ensure the satisfaction of customers within the principles of Maqasid al-Sharī ͑ah. It takes a legal and institutional approach to the subject, which readers will find particularly valuable, as there are various forms of Islamic finance institutions that do not conform to established models in the finance industry. Furthermore, there are emerging business models that will benefit from this line of investigation. This book offers a timely analysis of these issues and redresses the existing misconceptions and misinterpretations pertaining to benchmarking, in an Islamic finance context, and, as such, provides guidance and strategies for future directions. It will appeal to researchers of Islamic banking, finance, and insurance, as well as, practitioners, particularly standard setting bodies, regulators, and policy makers.

Download or read book Fixing LIBOR written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2012-08-20 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report follows the Committee's inquiry into the Final Notice issued by the Financial Services Authority with respect to Barclays on 27 June, 2012. The Committee has called for action in a number of areas, including: higher fines for firms that fail to co-operate with regulators, the need to examine gaps in the criminal law, and a much stronger governance framework at the Bank of England. The manipulations were made possible by a prolonged period of extremely weak internal compliance and board governance at Barclays, as well as a failure of regulatory supervision. Nor was it spotted either by the FSA or the Bank of England at the time. The evidence that Mr Tucker, Mr Diamond and Mr del Missier separately gave about this manipulation describes a combination of circumstances which would excuse all the participants from the charge of deliberate wrongdoing. If they are all to be believed, an extraordinary, but conceivably plausible, series of miscommunications occurred. It is also unlikely that Barclays was the only bank attempting the manipulations. In explaining what was wrong with the general culture at Barclays, the FSA showed some welcome evidence of a new, judgement-led regulatory approach. Regulators should not decide the composition of boards in response to headlines and many will wonder why they did not intervene earlier to remove Mr Diamond. The Bank of England should have had adequate procedures in place for at least the making of a File note of conversations such as that between Mr Tucker and Mr Diamond. The Wheatley review should now look at the role of the BBA in LIBOR setting at that time in detail and publish its findings. The Parliamentary Commission on Banking Standards' examination of the corporate governance of systemically important financial institutions should consider how to mitigate the risk that the leadership style of a chief executive may permit a lack of effective challenge or to the firm committing strategic mistakes

Download or read book Global Banks on Trial written by Pierre-Hugues Verdier and published by Oxford University Press. This book was released on 2020-02-14 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the years since the 2008 financial crisis, U.S. federal prosecutors have brought dozens of criminal cases against the world's most powerful banks, charging them with manipulating financial indices, helping their customers evade taxes, evading sanctions, and laundering money. To settle these cases, global banks like UBS, Barclays, HSBC and BNP Paribas paid tens of billions of dollars in fines. They also agreed to extensive reforms, hiring hundreds of compliance officers, spending billions on new systems, and installing independent monitors. In effect, they agreed to become worldwide enforcers of U.S. law, including financial sanctions-sometimes despite their own governments' protests. This book examines the U.S. enforcement campaign against global banks across four areas: benchmark manipulation, tax evasion, sanctions violations, and sovereign debt. It shows that U.S. prosecutors have unilaterally carved out a new role as global bank regulators, heralding a fundamental shift in how international finance is overseen. Their ability to do so stems from U.S. control over access to vital hubs of the international financial system. In some areas, unilateral U.S. actions have ushered in important multilateral reforms, such as the rise of automatic tax information exchange and better-regulated financial indices. In other areas, such as financial sanctions, unilateralism has attracted protests from other states and spurred attempts to challenge U.S. dominance of international finance.

Download or read book The Routledge Companion to Banking Regulation and Reform written by Ismail Ertürk and published by Taylor & Francis. This book was released on 2016-10-04 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge Companion to Banking Regulation and Reform provides a prestigious cutting edge international reference work offering students, researchers and policy makers a comprehensive guide to the paradigm shift in banking studies since the historic financial crisis in 2007. The transformation in banking over the last two decades has not been authoritatively and critically analysed by the mainstream academic literature. This unique collection brings together a multi-disciplinary group of leading authorities in the field to analyse and investigate post-crisis regulation and reform. Representing the wide spectrum of non-mainstream economics and finance, topics range widely from financial innovation to misconduct in banking, varieties of Eurozone banking to reforming dysfunctional global banking as well as topical issues such as off-shore financial centres, Libor fixing, corporate governance and the Dodd-Frank Act. Bringing together an authoritative range of international experts and perspectives, this invaluable body of heterodox research work provides a comprehensive compendium for researchers and academics of banking and finance as well as regulators and policy makers concerned with the global impact of financial institutions.

Download or read book The Changing Face of Compliance written by Sharon Ward and published by Routledge. This book was released on 2016-04-01 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the current business climate the impact of the volume and nature of regulatory change and the regulatory risk arising from this is a significant business risk for regulated firms and regulators alike. As a consequence, management of this risk is increasingly high on the board agenda of regulated firms, with those business functions whose activities support this, such as Compliance, facing increasing levels of challenge in their efforts to be effective. The Changing Face of Compliance addresses core aspects of this challenge, considering the relationship between regulation and compliance and key influences on both, offering insight into the effectiveness of current approaches and addressing practical compliance challenges. Sharon Ward explains how the role of Compliance might be strengthened and those who work within it further enabled to support the current focus on improving standards in business, offering recommendations for enhancing this role. The text includes a mix of hands-on advice, examples and research based on the experiences of practitioners, educators and regulators drawn from across a wide range of jurisdictions and sectors. This is a thoughtful and timely book, whether you are concerned about the growing and changing implications of regulatory risk; the benefit of leveraging additional value from your Compliance function or your own Compliance role; or ways of transforming and sustaining the function to ensure its continued relevance to the business.

Download or read book Syndicated Lending 7th edition written by Mark Campbell and published by Harriman House Limited. This book was released on 2019-12-03 with total page 615 pages. Available in PDF, EPUB and Kindle. Book excerpt: This fully revised, updated and expanded edition of the industry standard text takes the reader through the complete life cycle of a syndicated loan. Beginning with the opening phase of mandating a lead bank, Syndicated Lending delves through negotiation, documentation, syndication and closing transactions to conclude with the secondary market. This seventh edition includes new supplements dealing with: • regional syndicated loan markets • growing regulatory framework • the influence of Brexit on the market • the challenges thrown up by the transition from LIBOR-based pricing to the proposed risk-free rate environment. The practice of syndicated lending is similarly explored in its historical context, by following the ups and downs of this most flexible, and enduring, financial market. Plus, while the market moves toward digitisation, summaries are provided for the leading technology solutions being developed. With practical explanations, reflecting practices developed by the LMA, from borrowers, bankers and investors, this book offers insight from industry professionals with decades of experience as well as detailed examples of pricing methodology. There is also an up-to-date discussion of documentary issues, including annotated term sheets and loan documents, contributed by Clifford Chance. This is the essential guide to the commercial and documentary aspects of syndicated lending for lenders, borrowers, investors, lawyers, regulators and service providers.

Download or read book The Financial Courts written by Jo Braithwaite and published by Cambridge University Press. This book was released on 2021-01-07 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains the legal implications of internationalisation, standardisation and diversification in modern derivatives markets, demonstrating the key role of national courts.

Download or read book Laws and Regulations in Global Financial Markets written by R. Girasa and published by Springer. This book was released on 2013-11-25 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: The major financial scandals of the past decade, which have been discussed exhaustively in corporate offices by corporate attorneys, and in accounting firms, have led to the passage of massive Congressional enactments in the United States that impact the world of finance. The enactment of the Sarbanes-Oxley Act in 2002, with its significant provisions of 20-year imprisonment for certain offenses, and the conviction of Enron's CEO and other senior executives, finally caught the attention of corporate executives. Laws and Regulations in Global Financial Markets presents students, researchers, and practitioners with an in-depth global analysis of the legal and regulative aspects of corporate financial markets. Readers are introduced to international developments concerning rules and regulations impacting investment advisers and broker-dealers, bankruptcy law, important legal changes influencing banks and credit ratings organizations, real estate regulations, and insurance law. The book concludes with a discussion of personal finance, financial literacy, and federal statutes centered around the subject matter.

Download or read book The SAGE Encyclopedia of Business Ethics and Society written by Robert W. Kolb and published by SAGE Publications. This book was released on 2018-03-27 with total page 8802 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thoroughly revised, updated, and expanded, The SAGE Encyclopedia of Business Ethics and Society, Second Edition explores current topics, such as mass social media, cookies, and cyber-attacks, as well as traditional issues including accounting, discrimination, environmental concerns, and management. The new edition also includes an in-depth examination of current and recent ethical affairs, such as the dangerous work environments of off-shore factories for Western retailers, the negligence resulting in the 2010 BP oil spill, the gender wage gap, the minimum wage debate and increasing income disparity, and the unparalleled level of debt in the U.S. and other countries with the challenges it presents to many societies and the considerable impact on the ethics of intergenerational wealth transfers. Key Features Include: Seven volumes, available in both electronic and print formats, contain more than 1,200 signed entries by significant figures in the field Cross-references and suggestions for further readings to guide students to in-depth resources Thematic Reader's Guide groups related entries by general topics Index allows for thorough browse-and-search capabilities in the electronic edition

Download or read book The Georgia Journal of International and Comparative Law written by and published by . This book was released on 2014 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Banking on Change written by London Institute of Banking and Finance and published by John Wiley & Sons. This book was released on 2019-10-14 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: PRAISE FOR Banking on Change "In this 140th Anniversary celebration book, The London Institute of Banking and Finance stick to their core function of educating us all, but especially aspirant bankers, on the role and concerns of (retail and commercial) banking in the UK. They have assembled a well-chosen group of practitioners from a range of professions to write clear and easily assimilable essays, no technical expertise required, on a wide variety of current banking issues. If you want to learn about the current practices and problems of UK retail banking, this book must be essential reading." —Charles Goodhart, emeritus professor of banking and finance at the London School of Economics "In this important book, a line from Bill Allen's contribution is key: 'Nobody can predict the ferocity of the gale of creative destruction' that faces the financial services sector. True; but if you read the many and varied contributions, you'll have a pretty good idea. Moreover, you'll understand how we (that is, bankers) got here – and what we should do to make the industry more competitive, fairer and more genuinely useful. It is a soup-to-nuts look at banking – from the early days of the Institute of Banking, through the go-go years of ifs, to a present and future that are likely to be dominated by technology. It is well-worth a long read." —Andrew Hilton, director, Centre for the Study of Financial Innovation "If you were to imagine what a book celebrating 140 years of financial knowledge might contain, you could not come up with a better selection than this. As well as a historic sweep – from no-tech to fintech, the decline of trust and the rise of competition – today's hot subjects are addressed, including sustainable investing, cultural diversity and digital identity. The cradle-to-grave nature of the industry is captured in pieces about financial education and pensions. And it's well written, setting the scene nicely for the next era." —Jane Fuller, Fellow of the Society of Investment Professionals Financial services are undergoing rapid, and potentially dramatic, change. What will happen in payments, in sustainable finance and in fintech? How can the industry boost financial inclusion and ensure that its workforce has the skills it needs to meet regulatory requirements and to compete with new entrants? Can trade finance rise to the challenge of underpinning global trade for all and help the developing world avoid "financial abandonment"? What do financial services need to do to protect our digital identities? Banking on Change provides insights by experts and influencers from across the financial services industry on these and other questions. Published to mark the 140th anniversary of The London Institute of Banking & Finance, this book is intended to be of lasting value to both students and professionals.

Download or read book Fighting Financial Crime in the Global Economic Crisis written by Nicholas Ryder and published by Routledge. This book was released on 2014-10-30 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many commentators, regulatory agencies and politicians have blamed the risky behaviour of both financial institutions and their actors for the collapse of the United States sub-prime mortgage market which in turn precipitated the global 'Credit Crunch'. This edited volume explores how financial crime played a significant role in the global economic crisis. The volume features contributions from internationally renowned academic and practitioner experts in the field who pinpoint some of the most important facets of financial crime which have emerged over recent years. Key subjects include: the possibility of criminalising reckless risk-taking on the financial markets; the duty of banks to prevent money-laundering and corruption; the growth of the Shadow Banking System; and the manipulation of LIBOR by banks. The book illustrates the global nature of financial crime, and highlights the complex relationships between regulatory bodies, law enforcement agencies and private actors in the attempt to limit the harmful effect of white collar crime on the stability of the financial sector. This book will be of great use and interest to scholars, practitioners and students within the field of financial crime, banking and finance law, and international political economy.

Download or read book The Rule of Law in Monetary Affairs written by Thomas Cottier and published by Cambridge University Press. This book was released on 2014-08-29 with total page 635 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addresses central monetary law and policy debates, especially the links between international investment law and trade regulation within the WTO.

Download or read book Conduct and Accountability in Financial Services written by Stacey English and published by Bloomsbury Publishing. This book was released on 2018-11-23 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are you fully prepared for the implementation of the Senior Managers and Certification Regime across financial services firms and the related regulatory scrutiny on conduct and accountability? The 2008 financial crisis sparked major changes in global financial services regulation with attention and resources focused on the behaviour of firms and senior individuals and how they conduct their business. Regulatory reforms have been designed and implemented globally to address accountability and conduct in financial services. In the UK this has resulted in the Senior Managers and Certification Regime (SM&CR) being implemented across all FSMA-regulated firms. Conduct and Accountability in Financial Services: A Practical Guide provides comprehensive and expert guidance on how best to implement and comply with the SM&CR. In addition to acting as a guide to rule book requirements and regulatory expectations, it provides an in-depth look at the implications of the global focus on culture and conduct risk. A must-read text for all staff in UK financial services firms, professional associations, industry bodies, regulators, academics and advisers to financial services organisations, it covers: The context and regulatory basis for SM&CR including an overview of the development and roll-out of the regime Analysis of key changes from the previous 'approved person' approach Practical considerations for HR, internal audit and non-executive directors The increasing role of culture and conduct risk A practical overview of enforcement, penalties and learning lessons from enforcement actions Overarching principles of how to manage personal regulatory risk Regulatory relationship management The impact of technology An overview of related global developments Appendices with timeline, bibliography and a selection of other useful sources for senior managers Conduct and Accountability in Financial Services: A Practical Guide is on the syllabus reading list for the Regulation and Compliance exam offered by the Chartered Institute of Securities and Investments.

Download or read book Driven to the Brink written by Alicia Micklethwait and published by Springer. This book was released on 2017-03-14 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: Driven to the Brink is a collection of short stories about corporate disasters and how inadequate governance and flawed culture caused a massive destruction of shareholder value. Look at any major corporate meltdown and two factors emerge: a failure of corporate governance and a culture where short-termism and greed are rewarded and risk is encouraged to flourish unchecked. Two years before the latest crash, Alicia Micklethwait co-wrote the best-selling Greed and Corporate Failure which examined some of the high profile corporate disasters of the early years of the 21st century. Sadly those lessons were forgotten. Companies have continued to be Driven to the Brink of disaster. Now, with co-author Patty Dimond, they examine what we must learn this time around. Drawing on in-depth case studies of the Libor scandal, Olympus, Co-op, Kids Company and others, Dimond and Micklethwait ask what have we learned and more importantly, what can we do to prevent these disasters from happening again? They also examine the large, emerging and less widely understood world of Corporate China with detailed discussion of the Lixel and Glaxo frauds. On a positive note, staying with China, they look at the story of Alibaba and ask is an ethical culture enough to protect shareholder rights?

Download or read book Market Based Interest Rate Reform in China written by China Finance 40 Forum Research Group and published by Routledge. This book was released on 2018-12-07 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: The market-based interest rate reform remains a core part of China’s financial reforms, and an important topic of both theoretical and policy studies. This book presents a comprehensive analysis of the process and logic of China’s interest rate reform from a historical perspective. It is structured along three lines, i.e. loosening interest rate controls, establishing market-based interest rates, and building an effective interest rate adjustment mechanism, and systematically reviews the characteristics and evolvement of the reform process. The book further explores the lessons and challenges of the reform by examining China’s development stage and auxiliary reforms needed, and offers policy recommendations on how to further push forward the reform.