Individual Savings Account is a special savings plan introduced by the UK government. This plan h...
The Hague Convention on the Taking of Evidence Abroad in Civil and Commercial Matters 1970 is a well-known example. I of the Convention applies to letters of request, issued by the judicial authorities of a Contracting State in civil or...
more »Of major importance is the attempt to resolve jurisdictional clashes by means of international co-operation, There are various ways of slicing this topic, but the one adopted here is classifying the co-operation on the basis of whether as...
more »As a matter of judicial decision-making, how might jurisdictional clashes be avoided, or at least mitigated, while still achieving the policy objectives of the two jurisdictions? One approach has bee...
more »The case studies illustrate the potential for clashes between the laws of different jurisdictions applying to a bank. Regulatory requirements may differ for the one bank operating in two jurisdictions (case 1); the law in one jurisdiction...
more »Notable US orders of this nature have involved grand jury subpoenas issued in relation to investigations by enforcement bodies. The orders initially were made against US banks with foreign branches, because the US head office supposedly ha...
more »Anti-suit injunctions require a party not to commence, or to discontinue, proceedings in a foreign court. They have been sought in a variety of situations. When the Iranian central bank instituted action in an English court for repayment o...
more » Article of the IMF provides:
Exchange contracts which involve the currency of any member and which are contrary to the exchange control regulations of t...
more »In England, the courts invoke the principles of conflicts of laws set out in the Rome Convention on the Law Applicable to Contractual Obligations. Under Article 8, the ordinary rules in the convention apply to issues of illegality. Thus, i...
more »Cases 4 and 5 involve whether country Xwill recognize the laws of country Y, either the moratorium of country Y declared with respect to debts owed to a bank (Case 4), or the freeze imposed by country Y on deposits of country Z with countr...
more »As a matter of the domestic law of a country, the reach of its legislation will depend partly on its terms, and partly on how it is interpreted. For example, the US Money Laundering Control Act of 1986 contains a specific declaration of ex...
more »In a more recent example, the chairman and managing director of a small London merchant bank, WSTC, was convicted inter alia of obtaining property by deception. A repurchase agreement contract was entered into in relation to securities all...
more »In case 1, the bank operates in various jurisdictions and is subject to parallel, but not conflicting, regulatory regimes. There is no question but that, in international law, both jurisdictions have competence to prescribe and enforce the...
more »Banking regulation in country X requires banks to have a certain amount of capital if they are to continue in business, while banking regulation in country Y requires banks to have a greater amount of capital. A bank is incorporated in cou...
more »The General Agreement on Trade in Services (the GATS) is binding on those who enter the agreement establishing the World Trade Organization. It came into effect in 1995. It comprises two main parts, the general framework with annexes, and...
more »Throughout this book we have encountered the Second Banking Directive of the European Community. It is part of the agenda for a single European market. Its aim is to create one market in banking services, with no internal barriers to EC ba...
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