The law on corporate governance in banks:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cheltenham ; Northampton, Mass.
EE Edward Elgar Publishing
[2015]
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| Series: | Elgar financial law and practice
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| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XXVII, 352 Seiten |
| ISBN: | 9781782548850 |
Staff View
MARC
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| 245 | 1 | 0 | |a The law on corporate governance in banks |c Iris H-Y Chiu. with contributions from Anna P Donovan ... |
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Record in the Search Index
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| adam_text | EXTENDED TABLE OF CONTENTS
ABOUT THE AUTHORS XI
PREFACE XV
TABLE OF CASES XVIII
TABLE OF LEGISLATION XX
1. A PRIMER ON CORPORATE GOVERNANCE IN BANKS AND FINANCIAL
INSTITUTIONS: ARE BANKS SPECIAL?
ANDREAS KOKKINIS
1. INTRODUCTION 1.01
A. AGENCY THEORY: ALIGNING THE INTERESTS OF MANAGERS AND SHAREHOLDERS
1.05
I. A BRIEF OVERVIEW OF AGENCY THEORY 1.05
II. AGENCY COSTS AND RISK-TAKING BY COMPANIES 1.10
2. THE FAILURE OF CONVENTIONAL CORPORATE GOVERNANCE IN THE CASE OF
BANKS:
PROFIT MAXIMISATION V THE PUBLIC INTEREST 1.18
A. THE PUBLIC INTEREST IN FINANCIAL STABILITY 1.18
I. THE ECONOMIC SIGNIFICANCE OF BANKS 1.20
II. THE UNIQUE BUSINESS RISKS FACED BY BANKS 1.23
III. SYSTEMIC RISK 1.25
IV. THE PECULIAR CAPITAL STRUCTURE OF BANKS 1.27
B. THE MISALIGNMENT BETWEEN THE INTERESTS OF BANK SHAREHOLDERS AND THE
PUBLIC
INTEREST 1.29
3. THE LIMITED POTENTIAL OF SHAREHOLDERS AND CREDITORS TO MONITOR RISK
TAKING BY BANKS 1.37
A. THE LIMITS OF SHAREHOLDER GOVERNANCE OF RISK TAKING BY BANKS 1.39
I. THE OPACITY OF BANKS ASSETS 1.40
II. THE EFFECT OFASSET OPACITY ON RISK-MONITORING BY BANK SHAREHOLDERS
1.45
B. THE LIMITS OF BONDHOLDER MONITORING OF RISK TAKING BY BANKS 1.48
C. THE VERY LIMITED RISK-MONITORING BY DEPOSITORS 1.56
4. THE EFFECT OF BANK OPACITY ON THE CORE PROBLEM OF THE MISALIGNMENT
BETWEEN THE PUBLIC INTEREST AND CONVENTIONAL CORPORATE GOVERNANCE 1.60
5. TOWARDS A REGULATORY APPROACH TO BANK CORPORATE GOVERNANCE 1.65
A. THE RECENT REGULATORY INTERVENTIONS TO BANK CORPORATE GOVERNANCE 1.66
B. A BROADER RECONCEPTUALISATION OF BANK CORPORATE GOVERNANCE 1.71
6. CONCLUSION 1.74
2. CORPORATE GOVERNANCE AND BANKS: THE ROLE AND
COMPOSITION OF THE BOARD
EDWARD WALKER-ARNOTT
1. COMPANY LAW AND THE BOARD 2.01
2. THE CORPORATE GOVERNANCE CODE 2.10
3. THE APPROVED PERSONS REGIME 2.31
4. BANKS AND FINANCIAL INSTITUTIONS 2.36
A. ROYAL BANK OF SCOTLAND 2.39
B. HALIFAX BANKOF SCOTLAND 2.45
C BARCLAYS PIC 2.51
D. PARLIAMENTARY COMMISSION ON BANKING STANDARDS 2.55
VII
EXTENDED TABLE OF CONTENTS
I. REGULATORY OVERSIGHT OF BOARDS 2.57
II. COMMENTS AND SUGGESTIONS 2.61
III. THE FINANCIAL SERVICES (BANKING REFORM) ACT 2013 2.62
5. THE FUTURE 2.63
3. DIRECTORS DUTIES AND LIABILITIES: DISQUALIFYING UNFIT
DIRECTORS AT BANKS? POLITICAL RHETORIC AND THE DIRECTORS
DISQUALIFICATION REGIME
JOHN LOWIY AND ROD EDMUNDS
1. INTRODUCTION 3.01
2. THE RISE AND FALL OF THE ROYAL BANK OF SCOTLAND 3.07
3. HBOS: AN ACCIDENT WAITING TO HAPPEN 3.13
4. THE COMPANY DIRECTORS DISQUALIFICATION ACT 1986 3.16
5. DETERMINING UNFITNESS TO BE CONCERNED IN THE MANAGEMENT OF A COMPANY
3.19
6. INDIVIDUAL FAILURE AND ENSURING PERSONAL RESPONSIBILITY: OLD WINE IN
NEW
BOTTLES 3.23
7. CONCLUSION 3.27
4. THE ROLE OF INSTITUTIONAL SHAREHOLDERS: STEWARDSHIP
AND THE LONG-/SHORT-TERM DEBATE
ARADREISBERG
1. INTRODUCTION 4.01
A. BACKGROUND 4.01
B. SHORT-TERMISM - HUMAN NATURE AND CULTURE 4.02
C. MAJOR REPORTS, CONSULTATIONS AND PAPERS ON THE TOPIC SINCE 2010 4.04
2. SHORT-TERM V LONG-TERM DICHOTOMY AND THE ELUSIVENESS OF THE TERM
*LONG-TERM 4.06
A. DO WE ALL MEAN THE SAME THING? HOW LONG IS LONG-TERM ? 4.06
3. WHAT S THE PROBLEM WITH SHORT-TERMISM? 4.10
4. THE CAUSES OF SHORT-TERMISM 4.20
5. ADDITIONAL DRIVERS OF SHORT-TERMISM 4.26
A. DRIVER NO. 1: DOES FREQUENT PERIODIC FINANCIAL REPORTING CAUSE
SHORT-TERMISM? 4.27
B. DRIVER NO. 2: SHAREHOLDERS DISENGAGEMENT 4.31
C. DRIVER NO. 3: DIVERSE INCENTIVES 4.38
6. HOW TO BREAK THE SHORT-TERM CYCLE 4.39
A. TAX REFORMS 4.40
B. CORPORATE GOVERNANCE MODIFICATIONS 4.41
C. UK GOVERNMENT SETS OUT STEPS TO CHANGE CULTURE IN UK EQUITY MARKETS
4.42
D. ARE THESE STEPS IN THE RIGHT DIRECTION? 4.44
7. DEBATE IS FAR FROM OVER 4.47
8. LOOKING AHEAD 4.55
5. DESIGN AND CONTROL OF REMUNERATION IN UK BANKS
MARC TMOORE
1. INTRODUCTION
2. PRINCIPAL FORMS OF DIRECTORIAL AND EXECUTIVE REMUNERATION
A. BASIC DIRECTOR S SERVICE FEE
B. EXECUTIVE SALARY
C. BONUS PAYMENTS
D. SHARES AND RESTRICTED SHARE GRANTS
E. EXECUTIVE SHARE OPTIONS
F. PENSION ALLOWANCE
G. GRATUITIES
H. EXPENSES AND PERQUISITES
3. WHO DETERMINES DIRECTORS REMUNERATION?
A. FUNDAMENTAL PRINCIPLES
B. THE (LIMITED) ROLE OF THE COURTS
5.01
5.02
5.03
5.04
5.05
5.06
5.08
5.10
5.11
5.12
5.13
5.13
5.15
VIII
EXTENDED TABLE OF CONTENTS
C. REMUNERATION COMMITTEES 5.20
D. DETERMINATION OF NON-EXECUTIVE DIRECTORS (NEDS ) REMUNERATION 5.24
E. DIRECTORS SERVICE CONTRACTS OPEN FOR INSPECTION BY SHAREHOLDERS 5.25
4. THE DIRECTORS REMUNERATION REPORT AND SAY ON PAY VOTE 5.26
A. BACKGROUND 5.26
B. THE NEW (POST-2013) TWO-TIER PROCEDURE FOR SAY ON PA/VOTING 5.28
C. EXPECTED IMPACTOF THE 2013 REFORMS 5.32
5. ALIGNING PAY WITH PERFORMANCE AND RISK TOLERANCE: THE REGULATORY
FRAMEWORK APPLICABLE TO BANKS 5.36
A. INTRODUCTION 5.36
B. FUNDAMENTAL PRINCIPLES 5.38
C. BONUS PAYMENTS 5.41
D. LONG-TERM INCENTIVE SCHEMES (EXECUTIVE SHARE OPTIONS AND RESTRICTED
SHARE GRANTS) 5.49
E. SEVERANCE PAYMENTS ( GOLDEN PARACHUTES ) AND PENSION ALLOWANCES 5.52
F. CLAWBACKAND UNILATERAL PAY-REDUCTION PROVISIONS 5.56
6. CORPORATE GOVERNANCE AND RISK MANAGEMENT IN BANKS
AND FINANCIAL INSTITUTIONS
IRISH-YCHIU
1. INTRODUCTION 6.01
2. CORPORATE GOVERNANCE AS A FRAMEWORK FOR RISK MANAGEMENT 6.06
3. POST-CRISIS REGULATORY REFORMS IN CORPORATE GOVERNANCE AND RISK
MANAGEMENT 6.11
4. CAN REGULATING RISK MANAGEMENT EFFECTIVELY SECURE RISK-TAKING AT
OPTIMAL LEVELS? 6.32
5. CONCLUSION 6.44
7. CORPORATE REPORTING AND THE ACCOUNTABILITY OF BANKS
AND FINANCIAL INSTITUTIONS
IRISH-YCHIU
1. INTRODUCTION 7.01
2. FINANCIAL REPORTING BY BANKS AND FINANCIAL INSTITUTIONS 7.05
3. THE RISE IN THE IMPORTANCE OF NARRATIVE REPORTING 7.20
4. THE AUDIT COMMITTEE 7.39
5. THE ROLE OF AUDITORS 7.45
6. REGULATORY ACCOUNTABILITY, MICROPRUDENTIAL REPORTING AND REGULATORY
SUPERVISION 7.60
7. CORPORATE TRANSPARENCY IN ESG MATTERS, SUSTAINABILITY AND INTEGRATED
REPORTING 7.67
8. CONCLUSION 7.77
8. SYSTEMS AND CONTROLS IN ANTI-BRIBERY AND CORRUPTION
ANNA P DONOVAN
1 INTRODUCTION 8.01
2. THE BRIBERY ACT 2010: A CATALYST FOR INTERNAL CONTROLS 8.06
A. FAILURE OF COMMERCIAL ORGANISATIONS TO PREVENT BRIBERY 8.07
B. THE ADEQUATE PROCEDURES DEFENCE 8.13
3. THE BRIBERY ACT 2010: THE MOJ GUIDANCE 8.19
A. PRINCIPLE 1: PROPORTIONATE PROCEDURES 8.23
B. PRINCIPLE 2: TOP-LEVEL COMMITMENT 8.30
C. PRINCIPLE 3: RISK ASSESSMENT 8.39
D. PRINCIPLE 4: DUE DILIGENCE 8.47
E. PRINCIPLE 5: COMMUNICATION (INCLUDING TRAINING) 8.54
F. PRINCIPLE 6: MONITORING AND REVIEW 8.61
4. CULTURE AS A BULWARK AGAINST CORRUPTION? 8.66
A. IDENTIFYING CULTURE S FUNCTIONALITY 8.68
I. CULTURE AS A NORMATIVE ORDERING MECHANISM 8.71
IX
EXTENDED TABLE OF CONTENTS
II. CULTURE AS A PANACEA 8.74
ILI. CULTURE AS A SOCIAL ORDER 8.77
B. IMPLEMENTING CULTURE 8.80
I. TONE FROM THE TOP 8.82
II. COMMUNICATION 8.87
III. EMPLOYEE PARTICIPATION 8.90
IV. ENFORCEMENT 8.92
5. CONCLUSION 8.95
ANNEX 8.1: SUMMARY OF KEY INTERNATIONAL CONVENTIONS 8.98
A. OECD CONVENTION ON COMBATING BRIBERY OF FOREIGN PUBLIC OFFICIALS IN
INTERNATIONAL BUSINESS TRANSACTIONS (THE OECD CONVENTION) 8.100
B. UNITED NATIONS CONVENTION AGAINST CORRUPTION (UNCAC) 8.104
C. COUNCIL OF EUROPE AND THE GROUP OF STATES AGAINST CORRUPTION (GRECO)
8.107
ANNEX 8.2: THE BRIBERY ACT 2010: CORPORATE HOSPITALITY AND FACILITATION
PAYMENTS 8.110
A. GIFTS AND HOSPITALITY 8.111
B. FACILITATION PAYMENTS 8.118
9. THE MARKET FOR CORPORATE CONTROL IN THE BANKING
INDUSTRY
GEORG MA TSAGAS
1. INTRODUCTION 9.01
2. RECENT DEVELOPMENTS 9.05
3. BANK ACQUISITION CASE STUDIES 9.09
A. ABN AMRO AND BANCA ANTONVENETA 9.10
B. RBS-ABN AMRO 9.13
C. BNP-SOCIETE GENERALE 9.20
4. LEGAL FRAMEWORK 9.22
A. THE QUALIFYING HOLDINGS DIRECTIVE 9.24
B. THE UK TAKEOVER CODE 9.36
C. EU TAKEOVER DIRECTIVE 9.45
5. THE MARKET FOR CORPORATE CONTROL IN THE BANKING SECTOR 9.47
6. THE MARKET FOR CORPORATE CONTROL IN THE BANK SECTOR ASSESSED 9.53
A. THE ROLE OF THE SUPERVISORY AUTHORITY 9.54
B. THE ROLE OF THE BOARD OF THE BIDDING COMPANY 9.59
C. THE ROLE OF THE TARGET BOARD AND TARGET SHAREHOLDERS 9.64
7. CONCLUSION 9.67
INDEX 337
|
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| spelling | Chiu, Iris H. Y. Verfasser (DE-588)1030392935 aut The law on corporate governance in banks Iris H-Y Chiu. with contributions from Anna P Donovan ... Cheltenham ; Northampton, Mass. EE Edward Elgar Publishing [2015] © 2015 XXVII, 352 Seiten txt rdacontent n rdamedia nc rdacarrier Elgar financial law and practice Banking law Corporate governance / Law and legislation Banking law fast Corporate governance / Law and legislation fast Recht SWB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=028357272&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Chiu, Iris H. Y. The law on corporate governance in banks Banking law Corporate governance / Law and legislation Banking law fast Corporate governance / Law and legislation fast Recht |
| title | The law on corporate governance in banks |
| title_auth | The law on corporate governance in banks |
| title_exact_search | The law on corporate governance in banks |
| title_full | The law on corporate governance in banks Iris H-Y Chiu. with contributions from Anna P Donovan ... |
| title_fullStr | The law on corporate governance in banks Iris H-Y Chiu. with contributions from Anna P Donovan ... |
| title_full_unstemmed | The law on corporate governance in banks Iris H-Y Chiu. with contributions from Anna P Donovan ... |
| title_short | The law on corporate governance in banks |
| title_sort | the law on corporate governance in banks |
| topic | Banking law Corporate governance / Law and legislation Banking law fast Corporate governance / Law and legislation fast Recht |
| topic_facet | Banking law Corporate governance / Law and legislation Recht |
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