Banking has a global reach. It is also a heavily regulated industry. Simply staying abreast of the ongoing developments is a challenge, even for the most dedicated specialist. For example, it is difficult to anticipate whether or to what extent FinTech will disrupt the industry. However, it has already triggered initiatives for regulatory change in a number of jurisdictions.This is where this book comes in. It provides general counsel, regulators and lawyers with a comprehensive insight into banking regulation in 26 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 banking regulation in each jurisdiction, covering both the rules that are applicable to banks and the regulators in charge of supervising and enforcing them.
The authors further describe the key requirements for governance of the board of directors and senior management, as well as the internal control environment of the entire financial institution, followed by an overview of new trends and legal developments in the area of banking. The chapters then 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, the rules protecting clients 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 global level.