Legal issues in electronic banking:
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
The Hague [u.a.]
Kluwer Law Internat.
2002
|
| Schriftenreihe: | Studies in transnational economic law
17 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Includes index |
| Beschreibung: | XXIV, 399 S. |
| ISBN: | 9041198911 |
Internformat
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| 245 | 1 | 0 | |a Legal issues in electronic banking |c [ed.] by Norbert Horn |
| 264 | 1 | |a The Hague [u.a.] |b Kluwer Law Internat. |c 2002 | |
| 300 | |a XXIV, 399 S. | ||
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| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a Studies in transnational economic law |v 17 | |
| 500 | |a Includes index | ||
| 650 | 7 | |a Bankrecht |2 gtt | |
| 650 | 7 | |a E-commerce |2 gtt | |
| 650 | 7 | |a Elektronisch betalingsverkeer |2 gtt | |
| 650 | 7 | |a Europees recht |2 gtt | |
| 650 | 7 | |a Internationaal recht |2 gtt | |
| 650 | 4 | |a Europarecht | |
| 650 | 4 | |a Recht | |
| 650 | 4 | |a Electronic funds transfers |x Law and legislation | |
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Datensatz im Suchindex
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|---|---|
| adam_text | CONTENTS
FOREWORD V
CONTENTS VII
LIST OF ABBREVIATIONS XIX
/. INTRODUCTION: ECONOMIC AND LEGAL ASPECTS OF ELECTRONIC BANKING
NORBERT HORN
BANKING IN THE ELECTRONIC AGE. LEGAL ISSUES 3
I. THE EVOLUTION OF ELECTRONIC BANKING 3
A. WHERE THE WINDS OF CHANGE BLOW 3
B. A CHALLENGE FOR BANKING LAW 5
II. E-BANKING TRANSACTIONS AND THE B2C-RELATIONSHIP 6
A. GENERAL E-COMMERCE LEGAL REQUIREMENTS 6
1. APPLICABLE LAW 6
2. FORUM 8
3. FORMATION OF CONTRACTS AND EU CONSUMER PROTECTION 9
4. RIGHT OF REVOCATION OR WITHDRAWAL UNDER EC CONSUMER LAW? 10
5. ELECTRONIC SIGNATURE 11
6. IMPACT ON E-BANKING TRANSACTIONS 13
B. LEGAL ISSUES IN SPECIFIC B2C E-BANKING TRANSACTIONS 14
1. ONLINE BANKING: ADMISSION, TRANSACTION SAFETY, AND LIABILITY 14
2. INVESTMENT ADVICE AND EXECUTION-ONLY BUSINESS 16
3. CONSUMER CREDITS AND SECURED LOANS 17
4. DAY TRADING 18
C. ELECTRONIC CASH 18
III. E-BANKING AND THE NEW ORGANISATION OF BANKING ENTERPRISES:
THE VIRTUAL BANK 19
A. CHANGES IN BANKING SUPERVISORY LAWS 19
B. EXTRATERRITORIAL EFFECTS OF BANKING SUPERVISORY LAWS WITH
VIII CONTENTS
RESPECT TO E-BANKING? 20
C. OUTSOURCING OF BANKING FUNCTIONS 20
IV. E-BANKING AND THE MARKETS FOR CAPITAL AND FINANCIAL SERVICES 22
A. IMPROVEMENTS AND RESTRAINTS OF COMPETITION 22
B. INITIAL PUBLIC OFFERINGS IN THE INTERNET 23
C. STOCK EXCHANGES AND ALTERNATIVE TRADING SYSTEMS 24
1. ELECTRONIC TRANSACTIONS OF STOCK EXCHANGES 24
2. ALTERNATIVE TRADINGS SYSTEMS 25
V. CONCLUDING REMARKS 26
ROLF E. BREUER
BANKING IN THE ELECTRONIC AGE. A BANKER* S VIEW 29
I. INTRODUCTION 29
II. THE IMPORTANCE OF THE INTERNET 30
III. CHALLENGES FOR BANKS 32
A. GLOBALISATION 32
B. DISINTERMEDIATION 33
C. DECONSTRUCTION 33
IV. STRATEGIC RESPONSES OF BANKS 34
V. THE FUTURE OF BANKING 37
VI. CONCLUSION 38
GEORG BORGES
THE LOCALISATION OF ELECTRONIC BANKING TRANSACTIONS.
THE GERMAN PERSPECTIVE 39
I. INTRODUCTION: TERRITORIAL LINKS OF INTERNET BANKING TRANSACTIONS 39
II. THE COUNTRY IN WHICH AN OFFER IS MADE, § 1 PROSPECTUS ACT 40
A. INTERNET-IPO S AND THE PROSPECTUS ACT 40
B. THE ANNOUNCEMENT OF THE BUNDESAMT 41
C. THE DISCLAIMER-CONCEPT 45
1. ADVANTAGES AND POTENTIAL DANGER OF MISUSE OF A DISCLAIMER 45
2. APPROPRIATE MEANS PREVENTING SUBSCRIPTIONS FROM WITHIN
GERMANY 46
D. THE CONCEPT OF CONTENT-DIRECTION 47
E. CONCLUSION 48
III. THE STATE IN WHICH A SERVICE IS PROVIDED, § 31 (3) WPHG 49
A. GERMAN RULES OF CONDUCT AND INTERNATIONAL FINANCIAL
TRANSACTIONS, §§31,32 WPHG 49
B. THE COUNTRY IN WHICH SERVICES ARE PROVIDED 50
1. GENERAL RULE 50
2. ELECTRONIC BANKING 52
C. CONCLUSION 52
CONTENTS IX
IV. LOCALISING A WEBSITE BY ITS CONTENT 53
MARC DASSESSE
THE LOCALISATION OF ELECTRONIC BANKING TRANSACTIONS.
EU, WTO AND TAX CONSIDERATIONS 55
I. WHERE IS A FINANCIAL SERVICE LOCATED? REGULATORY IMPLICATIONS 55
A. INTRODUCTION 55
B. THE LOCALISATION RULES APPLICABLE TO FINANCIAL SERVICES AT
AN EU LEVEL 56
1. SCOPE OF THE EU RULES: APPLICABLE ONLY TO EC INCORPORATED
FINANCIAL SERVICES PROVIDERS 56
2. A GROWING DIVIDE IN TERMS OF PRUDENTIAL LOCALISATION RULES
BETWEEN BANKING AND INVESTMENT SERVICES AND INSURANCE
SERVICES 58
C. THE LOCALISATION RULES APPLICABLE TO FINANCIAL SERVICES IN A
WTO CONTEXT 63
D. DIFFICULT COHABITATION WITHIN THE EUROPEAN UNION OF
EU LOCALISATION RULES AND OF GATS COMMITMENTS 64
1. SCENARIO NUMBER 1 64
2. SCENARIO NUMBER 2 66
II. TAX IMPLICATIONS OF THE LOCALISATION OF FINANCIAL SERVICES 67
HERBERT KRONKE
APPLICABLE LAW AND JURISDICTION IN ELECTRONIC BANKING
TRANSACTIONS 73
I. FACTUAL BACKDROP
II. PROBLEM AREAS
A. BANK-CUSTOMER RELATIONSHIP
1. THE LEXICON: ONLINE BANKING - HOME BANKING
2. LAW GOVERNING THE CONTRACT
A. PRE-EXISTING CONTRACT
B. FORMATION OF A CONTRACT
C. EU-DIRECTIVE ON E-COMMERCE
D. CONSUMER PROTECTION
E. SCOPE OF THE APPLICABLE LAW
F. (OTHER) MANDATORY RULES
3. NON-CONTRACTUAL ISSUES
4. JURISDICTION
B. RELATIONSHIP BANK - THIRD PARTIES
C. ELECTRONIC PAYMENT
D. INTER-BANK RELATIONSHIP
73
74
75
75
75
75
76
77
78
80
80
81
82
83
83
85
X CONTENTS
E. SECURITIES TRANSACTIONS 85
1. BANKS AS BROKERS: THE LAW GOVERNING THE CONTRACT 85
2. BANKS AS SECURITIES DEPOSITORIES, CUSTODIANS ETC.:
THE LAW GOVERNING THE PROPRIETARY ASPECTS 85
3. OTHER ISSUES 86
III. CONCLUSIONS 87
//. GENERAL LEGAL PROBLEMS WITH INTERNET TRANSACTIONS BY BANKS
THOMAS HOEREN
TRANSACTION SAFETY IN ELECTRONIC BANKING. LEGAL ASPECTS 91
I. CONCLUSION OF CONTRACTS ON THE INTERNET 91
II. AVOIDANCE, AUTHORIZATION AND RECEIPT OF ELECTRONIC DECLARATIONS
OF INTENT 93
A. LEGAL SITUATION ACCORDING TO THE BGB 93
B. THE DIRECTIVE ON ELECTRONIC COMMERCE 95
III. WRITTEN FORM AND DIGITAL SIGNATURE 95
A. PRE-HISTORY OF THE FORM-REFORMS 96
B. DIRECTIVE ON E-COMMERCE, ELECTRONIC SIGNATURE DIRECTIVE
AND WRITTEN FORM 97
IV. PROBATIVE VALUE OF DIGITAL DOCUMENTS 99
A. FREE EVALUATION OF THE EVIDENCE 99
B. EVIDENTIAL STIPULATION 100
C. AMENDMENT OF LAWS 100
D. DIRECTIVE ON ELECTRONIC SIGNATURES 101
E. DIGITAL SIGNATURE: TECHNICAL CONVERSION 103
1. THE SYMMETRIC ENCRYPTION 103
2. THE ASYMMETRIC ENCRYPTION 104
V. THE LAW OF THE GENERAL CONDITIONS OF TRADE 105
VI. MEANS OF PAYMENT WITHIN THE ELECTRONIC BUSINESS 107
VII. CONSUMER PROTECTION ON THE INTERNET 110
A. QUESTIONS OF LEGAL INTERFERENCE 111
B. VERBRAUCHERKREDITGESETZ (CONSUMER CREDIT ACT) 113
C. DAS FERNABSATZGESETZ (DISTANCE SELLING ACT) 116
D. DIRECTIVE ON FINANCIAL SERVICES 118
1. SCOPE OF APPLICATION AND INFORMATION MODEL 118
2. THE DURABLE MEDIUM 119
3. RIGHT OF REVOCATION 119
CONTENTS XI
CLIFFORD LARSEN
RULES OF EVIDENCE AND ELECTRONIC TRANSACTIONS 121
I. INTRODUCTION 121
II. TRADITIONAL EVIDENTIARY RULES AND ELECTRONIC EVIDENCE 122
A. THE HEARSAY RULE 123
B. THE AUTHENTICATION REQUIREMENT 128
C. THE BEST EVIDENCE RULE 131
D. THE STATUTE OF FRAUDS 133
III. RECENT AMERICAN LEGISLATION AND ITS EFFECT ON THESE EVIDENTIARY
RULES 135
A. INTRODUCTION 135
B. FEDERAL LEGISLATION (E-SIGN) 136
1. BASIC RULE OF EQUALITY BETWEEN E-SIGNATURES AND DOCUMENTS
VERSUS PAPER-AND-INK SIGNATURES AND DOCUMENTS 136
2. EFFECT OF E-SIGN ON RULES OF EVIDENCE ANALYSIS 137
3. SCOPE OF E-SIGN 139
C. STATE LEGISLATION 142
1. UETA: GENERAL SUBSTANTIVE PRINCIPLES 142
2. SCOPE OF UETA 146
3. STATE DIGITAL SIGNATURE LAWS 147
4. HYBRID STATE LAWS 148
D. RELATIONSHIP OF STATE LAW TO E-SIGN 149
IV. EUROPEAN UNION INITIATIVES 151
V. CONTRACTUAL APPROACHES TO ELECTRONIC COMMERCE AND RULES
OF EVIDENCE 154
VI. FURTHER DEVELOPMENT OF ELECTRONIC EVIDENCE LAW 156
WOLFGANG WIEGAND
LEGAL ASPECTS OF THE BANK-CUSTOMER RELATIONSHIP IN
ELECTRONIC BANKING 163
PRELIMINARY REMARKS ON TOPIC AND TITLE 163
I. LEGAL ASPECTS OF THE BANK-CUSTOMER RELATIONSHIP 164
A. STRUCTURE AND VARIETY OF BANK SERVICES 164
B. THE CORRESPONDING VARIETY OF CUSTOMERS 164
C. THE LEGAL FRAMEWORK 165
1. THE SIMPLE PATTERN ONE TRANSACTION - ONE CONTRACT ? 165
2. THE CONSTRUCT OF THE GENERAL BANKING CONTRACT 166
D. THE REGULATORY ENVIRONMENT 167
II. LEGAL ASPECTS OF ELECTRONIC BANKING 168
A. E-BANKING AS A PART OF E-COMMERCE 168
B. SPECIFIC PROBLEMS OF E-BANKING 173
XII CONTENTS
III. ACCUMULATION AND INTERACTION OF DUTIES IN THE ELECTRONIC BANK-
CUSTOMER RELATIONSHIP 174
A. THE PRE-CONTRACTUAL PHASE 174
1. ACCUMULATION OF DUTIES OF DISCLOSURE AND INFORMATION 174
2. DUTY TO GIVE ADVICE OR WARNINGS? 175
3. CUSTOMER S OBLIGATIONS 177
B. CONCLUSION OF CONTRACT 177
1. OPENING OF A NEW ACCOUNT 180
2. GENERAL CONTRACT CONDITIONS 180
C. PERFORMANCE PHASE 181
1. TRADITIONAL AND NEW DUTIES OF THE BANK 181
2. THE ALLOCATION OF RISK AND THE GENERAL AND SPECIAL
CONTRACT CONDITIONS 182
3. A DISTANT VIEW 185
IV. SUMMARY AND PERSPECTIVE 186
///. INDIVIDUAL BANKING TRANSACTIONS ON THE INTERNET
ROBERT C. EFFROS
ELECTRONIC PAYMENT SYSTEMS. LEGAL ASPECTS 189
I. INTRODUCTION 190
II. IS ELECTRONIC MONEY LEGAL TENDER? 191
III. IS THERE AN ANALOGOUS INSTRUMENT TO WHICH ELECTRONIC MONEY
MAY BE LIKENED? 192
IV. DOES ELECTRONIC MONEY GIVE RISE TO DEPOSITS? 195
V. WHAT ARE THE SALIENT POINTS OF THE NEW EU DIRECTIVES REGULATING
THE BUSINESS OF ELECTRONIC MONEY INSTITUTIONS? 200
VI. WHAT LEGAL ISSUES ARE PRESENTED BY THE CREATION OF ELECTRONIC
MONEY? 203
VII. WHAT LEGAL ISSUES ARE PRESENTED BY THE TRANSFER OF ELECTRONIC
MONEY? 204
VIII.WHAT LEGAL ISSUES ARE PRESENTED BY THE DISCHARGE AND SETTLEMENT
OF ELECTRONIC MONEY? 205
IX. WHAT LEGAL ISSUES ARE POSED BY CONCERNS FOR THE PROTECTION OF
PRIVACY? 207
X. SOME ADDITIONAL CONSIDERATIONS 208
CONTENTS XIII
GUNNAR SCHUSTER
LEGAL ISSUES IN DAY-TRADING 211
I. INTRODUCTION 211
II. DEFINITION OF DAY-TRADING 212
III. RISKS OF DAY-TRAD ING 213
IV. LEGAL ASPECTS OF DAY-TRADING IN GERMANY 216
A. LICENSING OF DAY-TRADING FACILITIES 216
B. PARTICULAR OBLIGATIONS OF FIRMS OFFERING DAY-TRADING FACILITIES 219
C. THE ENFORCEABILITY OF DAY-TRADING CONTRACTS 222
1. THE HAMBURG DAY-TRADING CASE 222
2. LEGAL ANALYSIS UNDER CURRENT CIVIL LAW 223
3. DAY-TRADING AFTER THE REPEAL OF THE CONTRACT FOR
DIFFERENCES DEFENCE 225
V. CONCLUSIONS 228
PETER BALZER
LEGAL ASPECTS IN DIRECT BANKS SECURITIES BUSINESS.
A GERMAN LAW PERSPECTIVE 231
I. INTRODUCTION 231
II. DIRECT BANK S DUTIES TO INFORM AND GIVE ADVICE 232
A. DISTINCTION BETWEEN DUTY TO INFORM AND DUTY TO GIVE ADVICE 232
B. CONTENT AND REDUCTION OF THE DIRECT BANK S DUTIES TO
INFORM PURSUANT TO § 31 (2) 1 NO. 2 WPHG 233
C. DIRECT BANK S CONTRACTUAL DUTIES TO GIVE ADVICE 235
1. CONTRACT TO GIVE ADVICE 235
2. DUTY TO GIVE ADVICE IN CASE OF SENDING INFORMATION
MATERIAL TO THE CUSTOMER 236
3. CONCLUSION OF A CONTRACT TO GIVE ADVICE IN CASE OF AN
ADVISORY TALK 237
D. LEGAL CONTROL OF THE EXCLUSION TO GIVE ADVICE PURSUANT TO
AGBG 237
III. DUTIES OF DIRECT BANKS IN EXECUTING SECURITIES ORDERS 239
A. LEGAL ASPECTS OF THE BANK - CUSTOMER RELATIONSHIP IN
SECURITIES TRANSACTIONS 239
B. DUTY TO PROTECT THE CUSTOMER S INTERESTS IN EXECUTING
SECURITIES ORDERS 240
C. DUTY TO KEEP RECORDS 242
IV. LIABILITY OF DIRECT BANKS IN CASE OF NON-AVAILABILITY 242
A. ORGANISATIONAL DUTIES OF DIRECT BANKS PURSUANT TO
§33(1) NO. 1 WPHG 243
B. ASPECTS OF DIRECT BANK S LIABILITY IN CASE OF NON-AVAILABILITY 244
1. LIABILITY IN CASE OF VIOLATION OF THE ORGANISATIONAL
XIV CONTENTS
REQUIREMENTS PURSUANT TO § 33 (1) NO. 1 WPHG 244
2. AVAILABILITY AS A DIRECT BANK S DUTY OF CONTRACT 245
C. PREREQUISITE FOR A DIRECT BANK S LIABILITY IN RELATION TO THE
CUSTOMER 247
1. DIRECT BANK S FAULT AS A PREREQUISITE FOR THE CUSTOMER S
CLAIM FOR DAMAGES 247
2. EXTENT OF THE DAMAGES TO BE REPLACED BY THE DIRECT BANK 248
3. LEGAL CONTROL OF GENERAL BUSINESS CONDITIONS CONCERNING
THE DIRECT BANK S NON-AVAILABILITY 248
4. BURDEN OF PROOF IN CASE OF THE DIRECT S BANK NON-AVAILABILITY 249
V. CONCLUDING REMARKS 250
JANE K. WINN
ELECTRONIC CREDIT TRANSACTIONS. LEGAL ASPECTS 253
I.
II.
III.
IV.
V.
INTRODUCTION: LIFE CYCLE OF A BANK CREDIT
ORIGINATION
A. WEB MARKETING OF LENDING SERVICES
B. AUTHENTICATION
C. PROFILING AND RATING OF LOAN APPLICANTS
D. CREDIT MANAGEMENT: NEW ACCOUNTS AND REVERSIBILITY OF
ACH DEPOSITS
E. SIGNATURE AND WRITING REQUIREMENTS
F. VIRTUAL GOODS
CREDITS AS ASSETS
A. SECURITIZATION AND PARTICIPATION
B. REVISED ART. 9 ASSISTANCE
ENFORCEMENT
A. EXPANDED SCOPE OF REVISED ART. 9
B. REMOTELY DISABLE SOFTWARE
CONCLUSION
253
254
254
255
257
259
260
263
264
264
265
267
267
267
269
ADAM JOHNSON
ELECTRONIC LETTERS OF CREDIT. THE LIMITS OF THE PRESENT
INITIATIVES 271
I. INTRODUCTION 271
A. GENERAL 271
B.BILLS OF LADING 272
II. RELEVANT LEGAL INCIDENTS OF THE BILL OF LADING 273
A. CHARACTERISTICS OF THE BILL OF LADING 273
B. DOCUMENT OF TITLE 273
C. VEHICLE FOR THE TRANSFER OF CONTRACTUAL RIGHTS 274
CONTENTS XV
III. THE ISSUES 274
A. THE ROLE OF MERCANTILE LAW AND PRACTICE 274
B. MERCANTILE LAW AND PRACTICE AND ELECTRONIC DOCUMENTS 275
IV. POSSIBLE STRUCTURES 276
A. OPEN AND CLOSED SYSTEMS 276
B. TRADING IN PAPER: AN OPEN SYSTEM 276
C. ELECTRONIC TRADING: CLOSED SYSTEMS 276
V. BOLERO: OUTLINE 277
A. ORGANISATIONAL STRUCTURE 277
B. A BOLERO TRANSACTION 277
VI. BOLERO S CONTRACTUAL FRAMEWORK 278
A. THE BOLERO RULEBOOK 278
B. THE KEY CONTRACTUAL OBLIGATIONS 279
VII. BOLERO: CRITIQUE 280
A. THE ELEMENTS OF THE BOLERO FRAMEWORK 280
B. BOLERO AS A CONTRACT 280
C. BOLERO AND THIRD PARTIES 281
D. TITLE TO GOODS AND THE BOLERO SYSTEM 281
E. TRANSFERS OF CONTRACTUAL RIGHTS AND THE BOLERO SYSTEM 283
VIII. CONCLUSION 284
A. ASSESSMENT 284
B. TECHNICAL ISSUES 284
C. LEGAL ISSUES 284
STEFAN KROLL
ELECTRONIC BANK GUARANTEES AND STAND-BY LETTERS
OF CREDIT 287
I. INTRODUCTION 287
II. THE STATUS QUO AND POTENTIAL FOR IMPROVEMENT IN THE CONTEXT OF
INDIRECT BANK GUARANTEES 288
III. COMMUNICATIONS BETWEEN THE BANKS 289
IV. REQUEST TO OPEN A BANK GUARANTEE 290
A. POSSIBLE ADVANTAGES OF ELECTRONIC APPLICATIONS 291
B. EXISTING RESERVATIONS 291
C. LEGAL SITUATION 292
V. ELECTRONICALLY ISSUED BANK GUARANTEE 295
A. REQUIREMENTS FOR THE CREATION OF A BANK GUARANTEE 296
B. OFFER 296
C. ACCEPTANCE 297
D. FORM REQUIREMENTS 298
1. STATUTORY FORM REQUIREMENTS FOR BANK GUARANTEES 299
2. APPLICATION OF THE STATUTORY FORM REQUIREMENTS FOR SURETIES 300
XVI CONTENTS
3. CONTRACTUAL FORM REQUIREMENTS 301
E. RETURN OF THE GUARANTEE DOCUMENT 301
VI. CALLING OF THE GUARANTEE 302
VII. ELECTRONICALLY CREATED OFFER TO ISSUE A BANK GUARANTEE 304
VHI.CONCLUSION 305
IV. CAPITAL MARKET TRANSACTIONS ON THE INTERNET
JOSEPH J. NORTON AND HANSJORG J. O. HEPPE
US SECURITIES REGULATION AND THE USE OF THE INTERNET IN
REGISTERED OFFERINGS 309
I. INTRODUCTION 309
II. THE BACKDROP 312
A. THE BASIC PRINCIPLES OF US SECURITIES REGULATION 312
B. HOW THE INTERNET COMES INTO PLAY 314
1. WEBSITES 314
2. HYPERLINKS 315
3. AUDIO AND VIDEO-STREAMING 315
4. E-MAIL 316
III. REGISTERED STOCK OFFERINGS AND THE USE OF THE INTERNET AND OTHER
ELECTRONIC MEDIA 317
A. ELECTRONIC DELIVERY OF SEC DOCUMENTS 320
1. CONSENT TO ELECTRONIC DELIVERY 321
2. THE ENVELOPE THEORY 322
B. WEBSITE CONTENT 324
1. ISSUER RESPONSIBILITY FOR HYPERLINKED INFORMATION 325
2. ISSUER COMMUNICATIONS DURING A REGISTERED OFFERING 326
C. ELECTRONIC ROAD SHOWS 330
D. REGULATION FD 336
IV. THE SEC APPROACH TOWARDS FRAUD AND THE INTERNET 339
V. CONCLUSION 343
JANE K. WINN
ELECTRONIC TRADE IN NEGOTIABLE INSTRUMENTS 345
I. THE CREATION OF ELECTRONIC NEGOTIABLE INSTRUMENTS 345
II. THE SWITCH FROM PAPER TO ELECTRONIC MEDIA IN VARIOUS MARKETS 347
III. EFFICIENCY GAINS THROUGH ELECTRONIC DETERMINATION OF GOOD TITLE 350
IV. THE FUTURE OF THE TRANSFERABLE RECORD 354
CONTENTS XVII
V. OUTSOURCING OF BANKING FUNCTIONS: THE VIRTUAL BANK
HANS DIEKMANN
OUTSOURCING OF BANKING FUNCTIONS. COMPANY LAW ASPECTS 359
I. INTRODUCTION 359
A. REASONS FOR OUTSOURCING BANKING FUNCTIONS 359
B. LEGAL MEANS FOR OUTSOURCING BANKING FUNCTIONS 360
C. EXAMPLES 361
II. CORPORATE LAW RESTRICTIONS 361
A. SECTION 25A GERMAN BANKING ACT 362
B. OBJECT OF THE COMPANY 363
C. PRINCIPLE OF SELF-DEPENDENT LEADERSHIP 364
D. RESTRICTIONS PURSUANT TO THE HOLZMIILLER DECISION 365
E. RISK MANAGEMENT 366
F. INTRAGROUP OUTSOURCING PROJECTS 366
III. CONCLUSIONS 367
MICHAEL KUNZ
OUTSOURCING OF BANKING FUNCTIONS, SUPERVISORY LAW
ASPECTS 369
I. INTRODUCTION 369
A. WHAT IS OUTSOURCING OF BANKING FUNCTIONS? 370
B. WHY SOURCING OUT BANKING FUNCTIONS? 371
C. WHICH FUNCTIONS ARE OUTSOURCED BY BANKS? 372
II. PROBLEMS WITH SOURCING OUT E-BANKING FUNCTIONS 373
A. PROBLEMS WITH SOURCING OUT BANKING FUNCTIONS IN GENERAL 373
1. SELECTION OF A QUALIFIED OUTSOURCING PROVIDER 373
2. DATA PROTECTION AND DATA SECURITY 374
3. SOURCING OUT BANKING FUNCTIONS ABROAD /
CROSS-BORDER OUTSOURCING 375
4. CONTROL AND MANAGEMENT OF OUTSOURCING RISKS 375
B. SPECIFIC PROBLEMS OF SOURCING OUT E-BANKING FUNCTIONS 376
III. REGULATION OF SOURCING OUT E-BANKING FUNCTIONS 379
A. INTERNATIONAL REGULATION OF SOURCING OUT E-BANKING FUNCTIONS 379
1. BASEL COMMITTEE S REPORT ON RISK MANAGEMENT OF
E-BANKING AND E-MONEY 379
2. BASEL COMMITTEE S RISK MANAGEMENT PRINCIPLES FOR
E-BANKING 381
3. THE ROLE OF SUPERVISORY AUTHORITIES 384
XVIII CONTENTS
B. RULES ANRFREGULATIONS AT THE NATIONAL LEVEL 384
1. GERMANY 385
2. SWITZERLAND 385
3. CANADA 388
IV. CONCLUSION 391
INDEX 393
|
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| format | Book |
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| genre | (DE-588)1071861417 Konferenzschrift 2001 Köln gnd-content |
| genre_facet | Konferenzschrift 2001 Köln |
| id | DE-604.BV014936210 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T19:08:43Z |
| institution | BVB |
| isbn | 9041198911 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-010079914 |
| oclc_num | 51059405 |
| open_access_boolean | |
| owner | DE-703 DE-12 |
| owner_facet | DE-703 DE-12 |
| physical | XXIV, 399 S. |
| publishDate | 2002 |
| publishDateSearch | 2002 |
| publishDateSort | 2002 |
| publisher | Kluwer Law Internat. |
| record_format | marc |
| series | Studies in transnational economic law |
| series2 | Studies in transnational economic law |
| spelling | Legal issues in electronic banking [ed.] by Norbert Horn The Hague [u.a.] Kluwer Law Internat. 2002 XXIV, 399 S. txt rdacontent n rdamedia nc rdacarrier Studies in transnational economic law 17 Includes index Bankrecht gtt E-commerce gtt Elektronisch betalingsverkeer gtt Europees recht gtt Internationaal recht gtt Europarecht Recht Electronic funds transfers Law and legislation Electronic Banking (DE-588)4202584-9 gnd rswk-swf Recht (DE-588)4048737-4 gnd rswk-swf (DE-588)1071861417 Konferenzschrift 2001 Köln gnd-content Electronic Banking (DE-588)4202584-9 s Recht (DE-588)4048737-4 s DE-604 Horn, Norbert 1936-2023 Sonstige (DE-588)132374994 oth Studies in transnational economic law 17 (DE-604)BV000006264 17 SWB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010079914&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Legal issues in electronic banking Studies in transnational economic law Bankrecht gtt E-commerce gtt Elektronisch betalingsverkeer gtt Europees recht gtt Internationaal recht gtt Europarecht Recht Electronic funds transfers Law and legislation Electronic Banking (DE-588)4202584-9 gnd Recht (DE-588)4048737-4 gnd |
| subject_GND | (DE-588)4202584-9 (DE-588)4048737-4 (DE-588)1071861417 |
| title | Legal issues in electronic banking |
| title_auth | Legal issues in electronic banking |
| title_exact_search | Legal issues in electronic banking |
| title_full | Legal issues in electronic banking [ed.] by Norbert Horn |
| title_fullStr | Legal issues in electronic banking [ed.] by Norbert Horn |
| title_full_unstemmed | Legal issues in electronic banking [ed.] by Norbert Horn |
| title_short | Legal issues in electronic banking |
| title_sort | legal issues in electronic banking |
| topic | Bankrecht gtt E-commerce gtt Elektronisch betalingsverkeer gtt Europees recht gtt Internationaal recht gtt Europarecht Recht Electronic funds transfers Law and legislation Electronic Banking (DE-588)4202584-9 gnd Recht (DE-588)4048737-4 gnd |
| topic_facet | Bankrecht E-commerce Elektronisch betalingsverkeer Europees recht Internationaal recht Europarecht Recht Electronic funds transfers Law and legislation Electronic Banking Konferenzschrift 2001 Köln |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010079914&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV000006264 |
| work_keys_str_mv | AT hornnorbert legalissuesinelectronicbanking |