23. Electronic money

2017 ◽  
Author(s):  
Ian J. Lloyd
Keyword(s):  
United Kingdom ◽  
Financial Services ◽  
Online Gambling ◽  
Electronic Money ◽  
Technical Standards ◽  
Prudential Supervision ◽  
The United Kingdom ◽  
Gambling Activities ◽  
The Eu

This chapter begins with a discussion of the regulation of the issuance and use of electronic money. Initial sector-specific legislation was introduced by the EU in the form of the Directive on the taking up, pursuit of, and prudential supervision of the business of electronic money institutions. In the United Kingdom, the Financial Services and Markets Act 2000 designated the issue of e-money as a ‘regulated activity’ and particular provision to implement a Directive was made. The chapter then turns to the regulation of online gambling. It covers the Gambling Act 2005, licensing of remote gambling activities, and the Remote Gambling and Software Technical Standards.

23. Electronic money

2020 ◽  
pp. 407-424
Author(s):  
Ian J. Lloyd
Keyword(s):  
United Kingdom ◽  
Financial Services ◽  
Emerging Technology ◽  
Online Gambling ◽  
Electronic Money ◽  
Technical Standards ◽  
Prudential Supervision ◽  
The United Kingdom ◽  
Gambling Activities ◽  
The Eu

This chapter incldes a discussion of the regulation of the issuance and use of electronic money giving particular attention to the emerging technology of cyber-currencies. Initial sector-specific legislation was introduced by the EU in the form of the Directive on the taking up, pursuit of, and prudential supervision of the business of electronic money institutions. In the United Kingdom, the Financial Services and Markets Act 2000 designated the issue of e-money as a ‘regulated activity’ and particular provision to implement a Directive was made. The chapter then turns to the regulation of online gambling. It covers the Gambling Act 2005, licensing of remote gambling activities, and the Remote Gambling and Software Technical Standards.

Prospects for a close EU-UK trade deal are not good

2019 ◽  
Keyword(s):  
United Kingdom ◽  
Financial Services ◽  
Transition Period ◽  
Content Type ◽  
The United Kingdom ◽  
Uk Government ◽  
The Uk ◽  
The Impact ◽  
Limited Period ◽  
The Eu

Subject UK-EU trade talks. Significance The United Kingdom will leave the EU on January 31, 2020, but will abide by EU rules as part of the transition period, which runs to December 31, 2020. During this limited period of time, London and Brussels will seek to negotiate a permanent trading relationship. While the transition deadline can be extended, the UK government has committed not to seek an extension. Impacts The impact of no trade deal or a 'thin' one may force the UK government to increase taxes in order to meet spending pledges. UK financial services will rely on an equivalence deal with the EU; London hopes to agree this by mid-2020. The EU’s future trade policy will focus on having stronger sanction powers as well as legal ones for those that unfairly undercut EU firms.

India-UK free trade deal is likely around 2019

2016 ◽  
Keyword(s):  
International Trade ◽  
United Kingdom ◽  
Free Trade ◽  
Financial Services ◽  
Content Type ◽  
Decision To Leave ◽  
The United Kingdom ◽  
The Uk ◽  
Economic Ties ◽  
The Eu

Subject Outlook for a possible free trade deal between India and the United Kingdom post-Brexit. Significance UK business minister Sajid Javid's first overseas visit following the UK decision to leave the EU ('Brexit') was to India on July 8. Both countries have long eyed closer economic ties, and Brexit will likely provide a catalyst. Impacts Prospects for growth are strongest in areas including IT, financial services, pharmaceuticals, textiles and light engineering. The United Kingdom could support India in future international trade negotiations. In time, the India-UK relationship may become diplomatically stronger than the India-US relationship.

EUROPEAN UNION´S SUGAR MARKET CONCENTRATION UNDER THE SUGAR QUOTA PRODUCTION SYSTEM

2015 ◽  
Author(s):  
Ľuboš SMUTKA ◽  
Helena ŘEZBOVÁ ◽  
Patrik ROVNÝ
Keyword(s):  
United Kingdom ◽  
Quota System ◽  
Eu Member States ◽  
The United Kingdom ◽  
Sugar Market ◽  
Current Production ◽  
High Dynamic ◽  
Production Capacities ◽  
Very High ◽  
The Eu

The European sugar beet quota system is in very high dynamic process in recent years. The number of sugar companies involved in this system has been constantly decreasing. The aim of this paper is to define subjects (companies/alliances), which possess the current production capacities working under the production quotas system. The paper is determining especially the level of beet sugar production quota holder system concentration using the Herfindahl-Hirschman Index. The paper provides the following findings. The European quota holder system is extremely concentrated and it is becoming more and more dominated by fewer players. Sugar quota is distributed among 19 EU-Member States. In this regard, the quota is generous, especially in relation to France, Germany, Poland and United Kingdom. In Finland, Lithuania, Hungary, Sweden, Denmark, the Netherlands, Slovakia and the United Kingdom controlled by two or even one subject (companies, alliances). There is a large discrepancy between political efforts to distribute equitable R 1308/2013-sugar quotas among states and the actual reality of those distributions. While the EU-quota holder system does not indicate an extreme concentration, an analysis according to the headquarters´ location and allocated quotas to owners of production capacities provides the evidence of extreme concentration.

Data protection and passenger name record in judicial criminal matters under the EU–UK Trade and Cooperation Agreement

2021 ◽  
pp. 203228442199492
Author(s):  
Catherine Van de Heyning
Keyword(s):  
United Kingdom ◽  
Data Protection ◽  
Personal Data ◽  
Cooperation Agreement ◽  
Judicial Cooperation ◽  
The United Kingdom ◽  
Record Data ◽  
Criminal Matters ◽  
The Impact ◽  
The Eu

The submission discusses the provisions in the EU–UK Trade and Cooperation Agreement on data protection as well as the consequences for the exchange of passenger name record data in the field of criminal and judicial cooperation. The author concludes that the impact of the Agreement will depend on the resolvement of the United Kingdom to uphold the standards of protection of personal data equivalent to the EU’s in order to reach an adequacy decision.

Commentary: the Banking Crisis and the Economy

2008 ◽  
Vol 204 ◽  
pp. 4-8 ◽  
Author(s):  
Martin Weale
Keyword(s):  
United Kingdom ◽  
Financial Services ◽  
Banking Crisis ◽  
The United States ◽  
Second World War ◽  
Recent Experience ◽  
Bank Rate ◽  
The United Kingdom ◽  
Recent Developments ◽  
Second World

The past few weeks have seen an intensification of the banking crisis in the United States, with the near failure of Bear Sterns, although some commentators hopefully say that the worst has now passed. In the United Kingdom the gap between the Bank Rate and money market rates has re-opened and is described as indicative of a reluctance of banks to lend to each other. In this commentary we seek to explain the fundamental factors behind recent developments in UK lending markets. We begin by describing the recent experience of the financial services industry in the United Kingdom and putting the crisis, which has been described as the worst since the Second World War, into some sort of perspective.

Notes on the ECHR and the Disunited Kingdom ‘After’ Brexit – In memoriam Scott Crosby

2020 ◽  
pp. 203228442097693
Author(s):  
Gavin Robinson
Keyword(s):  
United Kingdom ◽  
European Convention ◽  
The European Union ◽  
The United Kingdom ◽  
Time Record ◽  
Eu Referendum ◽  
In Memoriam ◽  
European Criminal Law ◽  
The Eu

When the idea of this special edition occurred to the team behind the New Journal of European Criminal Law, my first thought was to go back through all of Scott Crosby’s contributions in print as editor-in-chief and see whether a mini-retrospective on the themes and views therein would be worthy of inclusion here – by Scott’s own standards. These notes focus on what gradually became the single biggest concern expressed in Scott’s editorials: the perilous position of the European Convention on Human Rights (ECHR) in a post-Brexit UK – in concreto, the prospect of what he labelled ‘Brexit plus’: a British exit from the ECHR system. I begin with Scott’s views on the European Union (EU) Referendum and the Brexit process. Next comes the great uncertainty currently surrounding the future of Convention rights in the United Kingdom, set against the emphasis placed by the editorials on the instrumental role of the ECHR in fostering peace across the whole of Europe, within and beyond the territory of the EU. In the event that Brexit plus should materialise, writing in the wake of polls showing all-time record support in Scotland for secession from the United Kingdom I close by asking whether Scotland might be able to ‘leave a light on for Strasbourg’.

scholarly journals What Determines the Financial and Insurance Services Exports: The Case of the United Kingdom

2021 ◽  
Vol 3 (6) ◽  
pp. 1071-1081
Author(s):  
Emmanouil Karakostas
Keyword(s):  
United Kingdom ◽  
Financial Services ◽  
Positive Impact ◽  
Essential Element ◽  
Political Stability ◽  
Financial Sector ◽  
State Intervention ◽  
Ordinary Least Squares ◽  
The United Kingdom ◽  
Almost All

The financial sector is a very basic pillar of the international financial system. Almost all countries of the present international economic system participate in international financial services. Today's era, due to intense globalization, constant capital movements, continuous commercial integration and the ever-increasing financial interconnection, have made financial and insurance services an essential element of the present reality. The financial sector is an industry that is very 'sensitive' to the macroeconomic and political stability of countries. This means that countries that are considered unstable cannot have a positive impact on their financial activities. One country that has a strong position in the financial sector is the United Kingdom (UK). The question that can be asked is this: what are the factors that determine the optimal functioning of financial and insurance activities. One answer could be the strong financial institutions of a country. Another answer is the corruption indicator. Or even the existence of intervention by the state apparatus in the financial functions. Of course, these factors must have tangible proof of the functioning of the economy. State intervention, for example, does not entirely mean that it is dysfunctional. This study will seek to create a framework for the analysis of financial services factors. The methodology applied is The Multiple Linear Regression - Ordinary Least Squares (OLS).

scholarly journals Features of transformation of legal entities in the conditions of Brexit

2021 ◽  
pp. 531-538
Author(s):  
Olha Ovechkina
Keyword(s):  
United Kingdom ◽  
The State ◽  
Member States ◽  
Eu Member States ◽  
The United Kingdom ◽  
The Status ◽  
The Uk ◽  
Actual Location ◽  
The Eu ◽  
Legal Entities

In connection with the decision to withdraw the UK from the EU a number of companies will need to take into account that from 1 January 2021 EU law will no longer apply to the United Kingdom and will become a "third country" for EU Member States, unless the provisions of bilateral agreements or multilateral trade agreements. This means that the four European freedoms (movement of goods, services, labor and capital) will no longer apply to UK companies to the same extent as they did during the UK's EU membership. The purpose of the article is to study, first of all, the peculiarities of the influence of Great Britain's withdrawal from the European Union on the legal regulation of the status of European legal entities. Brexit results in the inability to register European companies and European economic interest groups in the UK. Such companies already registered before 01.01.2021 have the opportunity to move their place of registration to an EU Member State. These provisions are defined in Regulations 2018 (2018/1298) and Regulations 2018 (2018/1299).British companies with branches in EU Member States will now be subject to the rules applicable to third-country companies, which provide additional information on their activities. In the EU, many countries apply the criterion of actual location, which causes, among other things, the problem of non-recognition of legal entities established in the country where the criterion of incorporation is used (including the United Kingdom), at the same time as the governing bodies of such legal entities the state where the settlement criterion is applied. Therefore, to reduce the likelihood of possible non-recognition of British companies, given the location of the board of such a legal entity in the state where the residency criterion applies, it seems appropriate to consider reincarnation at the actual location of such a company. Reducing the risks of these negative consequences in connection with Brexit on cross-border activities of legal entities is possible by concluding interstate bilateral and multilateral agreements that would contain unified rules on conflict of law regulation of the status of legal entities.

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