scholarly journals INTERMEDIARY ACTIVITIES OF A BANK: LEGAL ISSUES

Banking law ◽  
2021 ◽  
Vol 1 ◽  
pp. 17-25
Author(s):  
Elizaveta B. Lauts ◽  
Keyword(s):  
Financial Services ◽  
Legal Issues

The article analyzes the areas of intermediary activity of banks. The article examines the issue of whether banks can conclude Agency agreements, including those related to prohibited types of business activities. The author characterizes various types of Agency agreements that can be concluded by a Bank and the risks that arise in this regard, focusing on the recognition of a transaction made under the a significant misconception as invalid. It also analyzes ways to minimize the risks of banks and clients when providing various financial services to the client by the agent Bank.

scholarly journals Consumer Protection and Contingent Charges

2012 ◽  
Vol 50 (2) ◽  
pp. 477-493 ◽  
Author(s):  
Mark Armstrong ◽  
John Vickers
Keyword(s):  
Supreme Court ◽  
Consumer Protection ◽  
Financial Services ◽  
Legal Issues ◽  
Regulatory Intervention

Contingent charges for financial services, such as fees for unauthorized overdrafts, are often controversial. We study the economics of contingent charges in a stylized setting with naive and sophisticated consumers. We contrast situations where the naive benefit from the presence of sophisticated consumers with situations where competition works to subsidize the sophisticated at the expense of the naive, arguably unfairly. The case for regulatory intervention in these situations depends in good part, but not only, on the weight placed on distributional concerns. The economic and legal issues at stake are well illustrated by a case on bank charges recently decided by the U.K. Supreme Court. (JEL D14, D18, G21, G28, L51)

scholarly journals FRIENDLY LOAN: A LEGAL STUDY IN MALAYSIA

2021 ◽  
Vol 6 (26) ◽  
pp. 39-47
Author(s):  
Hua Siong Wong
Keyword(s):  
Interest Rate ◽  
Central Bank ◽  
Interest Rates ◽  
Financial Institutions ◽  
Financial Services ◽  
Legal Issues ◽  
Legal Study ◽  
Library Research ◽  
Laws And Policies ◽  
The Interest Rate

Financial institutions licensed which were established under the Financial Services Act 2013 and the Moneylenders Act 1951 in Malaysia will provide financial loans at the interest rate charged permitted by-laws and guidelines from the Central Bank of Malaysia to borrowers. However, not all borrowers can afford to pay high and onerous interest rates. Therefore, the law in Malaysia allows for friendly loans, i.e. the lender will provide financial loans assistance to the borrower from of interest or with minimal interest rate. This study will focus on the extent to which the legal issues of the practice of friendly loans in Malaysia and whether the provisions of current laws and policies can protect the interests of both lenders and recipients of friendly loans. This study is qualitative in nature and involves library research. The results of this study will look at aspects of legal issues in order to protect the interests of both lenders and recipients of friendly loans. In fact, Malaysia could also consider creating a special law on friendly loans and regulated by the authorities.

Blockchain for business

2019 ◽  
Vol 20 (1) ◽  
pp. 17-21 ◽  
Author(s):  
Rohith P. George ◽  
Brad L. Peterson ◽  
Oliver Yaros ◽  
David L. Beam ◽  
Julian M. Dibbell ◽  
...  
Keyword(s):  
Financial Services ◽  
Design Methodology ◽  
Legal Issues ◽  
Use Cases ◽  
Proof Of Concept ◽  
Content Type ◽  
Wide Range ◽  
Practical Guidance ◽  
The Right ◽  
Practical Implications

Purpose To introduce blockchain in simple terms for business lawyers to be able to spot the right issues and ask the right questions. Design/methodology/approach This article provides an overview of blockchain, identifies two example use cases, and highlights some of the most pressing legal issues, including issues to address in on-chain programming, off-chain agreements and other issues when determining whether to implement a blockchain solution. Findings This article concludes that there has been a significant growth in investment and interest in blockchain. Numerous companies across different sectors have developed blockchain proof-of-concepts, with some heading towards production deployments. At this point, commercial blockchain is largely in the pilot or proof-of-concept stage across a wide range of use cases, with payments and supply chain being two of the most promising use cases. This article also identifies possible legal issues associated with blockchain. Practical implications Despite the growing interest in blockchain, it is still a novel topic to many business lawyers. It is very important that lawyers are able to identify the right issues and ask the right questions. Originality/value Practical guidance from experienced lawyers in the Technology Transactions and Financial Services Regulatory & Enforcement practices.

scholarly journals Legal Issues of Identification in Remote Financial Services for Individuals

2020 ◽  
Vol 12 (5) ◽  
pp. 59-74
Author(s):  
A.V. Emelin ◽  
◽  
B.G. Perov ◽  
Keyword(s):  
Financial Services ◽  
Service Provision ◽  
Legal Issues ◽  
National Council ◽  
Banking Community ◽  
Provision Of Services ◽  
Regulatory Measures ◽  
The Russian Federation ◽  
Remote Identification ◽  
The Impact

In connection with the introduction of a high alert and self-isolation regime in the Russian Federation due to the coronavirus pandemic, the issue of remote financial services for individuals, especially the remote opening of accounts, deposits and lending to new customers, is particularly relevant in the banking community. The aim of the article is to propose additional regulatory measures to those already introduced in order to improve the process of financial service provision to individuals in a remote format. The research method is the study of various acts of state bodies (normative acts and newsletters), including those adopted during the period of high alert, as well as surveys of National Council of Financial Market member financial organizations on the impact of measures taken on their activities concerning the provision of services to individuals as well as suggestions for improving them. The article includes an analysis of regulators’ most important decisions on the issue and an evaluation of their impact on the sphere regulated, along with a consideration of international regulating experience in remote identification procedures. Based on the results of the work, conclusions are drawn on the appropriateness and sufficiency of the regulatory measures taken to ensure remote financial services for individuals in conditions of self-isolation as well as on promising ways to further improve the current legislation in this area.

scholarly journals Cognitive Overload: How to Protect Older Adults From Diminished Financial Decision-Making Capacity

2021 ◽  
Vol 5 (Supplement_1) ◽  
pp. 770-770
Author(s):  
Christopher Heye ◽  
Elizabeth Loewy ◽  
Katie Wade
Keyword(s):  
Older Adults ◽  
Decision Making ◽  
Financial Services ◽  
Legal Issues ◽  
Financial Security ◽  
Non Profit ◽  
Financial Decisions ◽  
Decision Making Capacity ◽  
The Us ◽  
Financial Decision

Abstract The aging population in the US poses a major threat to the financial security of older adults and their families. Millions of older adults will need to successfully navigate a multitude of financial and legal issues if they are to safely manage their assets while they are alive, and then securely transfer trillions of dollars to their heirs in accordance with their wishes. But most older adults are less healthy than their younger counterparts, and 25% or more over 65 are likely to suffer from diminished decision-making capacity. In short, older adults in the US will have to make some of the most important financial decisions of their lives just as their decision-making capacity is in decline. We offer recommendations to make it easier for financial services firms, medical professionals, non-profit organizations, and technology companies to work together to find better solutions for managing the complex issues around diminished decision-making capacity that is only likely to worsen in the years ahead.

scholarly journals LEGISLASI PERLINDUNGAN HUKUM TERHADAP FENOMENA FINANCIAL TECHNOLOGY PEER TO PEER LENDING DI INDONESIA

2021 ◽  
Vol 9 (1) ◽  
pp. 80
Author(s):  
Nur Afifah Aminuddin
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Legal Protection ◽  
Peer To Peer ◽  
Legal Issues ◽  
Conceptual Approach ◽  
The Public ◽  
Use Of Technology ◽  
Peer Lending ◽  
Financial Technology

<p><em>Financial technology is the implementation of the use of technology to improve banking and financial services. The emergence of Fintech-based companies, especially those offering lending and borrowing services or Peer To Peer Lending (P2PL) is currently getting the attention of the public and regulators. P2PL-based fintech services are one of the solutions for limited access to financial services in the country and realizing financial inclusion through synergies with financial institutions and technology companies. With the development of fintech peer to peer lending, illegal fintech problems arise which are detrimental to society, so it is necessary to study the legal protection of the regulations that govern it, and how to resolve disputes against it This research is normative by examining legal issues regarding legal protection for consumers and fintech peer to peer lending services and dispute resolution in the fintech business. The research method used includes a statue approach and a conceptual approach.</em></p><p><strong><em>Keywords : </em></strong><em>Legal Protection, Financial Technology Peer to Peer Lending.</em></p><p> </p><p><em>Financial technology </em>merupakan implementasi dari pemanfaatan teknologi untuk peningkatan layanan jasa perbankan dan keuangan. Kemunculan perusahaan-perusahaan berbasis <em>Fintech </em>terutama yang menawarkan layanan pinjam meminjam uang atau <em>Peer To Peer Lending </em>(P2PL) saat ini semakin mendapatkan perhatian publik dan regulator. Layanan <em>fintech </em>berbasis <em>P2PL </em>menjadi salah satu solusi terbatasnya akses layanan keuangan di tanah air dan mewujudkan iklusi keuangan melalui sinerginya dengan istitusi-institusi keuangan dan perusahaan-perusahaan teknologi. Semakin berkembangnya <em>fintech peer to peer lending </em>timbul permasalahan <em>fintech </em>illegal yang banyak merugikan masyarakat, maka itu perlu dilakukan kajian perlindungan hukum terhadap regulasi yang mengaturnya, serta bagaimana penyelesaian sengketa terhadapnya. Penelitian ini bersifat normatif dengan mengkaji isu hukum tentang perlindungan hukum terhadap konsumen dan layanan <em>fintech peer to peer lending</em> dan penyelesaian sengketa pada bisnis <em>fintech.</em> Metode penelitian yang digunakan meliputi pendekatan undang-undang <em>(statue approach)</em> dan pendekatan konseptual <em>(conceptual approach). </em></p><strong>Kata Kunci : </strong>Perlindungan hukum, <em>financial technology peer to peer lending.</em>

scholarly journals Juridical Implications of The Sustainable Finance Principles Implementation in the Banking Sector on the Obligations of Sustainable Reporting

2019 ◽  
Vol 19 (1) ◽  
pp. 52
Author(s):  
Lastuti Abubakar ◽  
Tri Handayani
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Financial Statements ◽  
Banking Regulation ◽  
Legal Issues ◽  
Public Companies ◽  
Environmental Aspect ◽  
Descriptive Research ◽  
Sustainable Finance ◽  
A Company

OJK has issued regulation No.51/POJK.03/2017 on The Application of Sustainable Finance for Financial Services Institution, Issuer and Public Companies, requires all financial services institutions, including banks to applied sustainable financial principles. While some of the principles of sustainable finance are already part of banking regulation such the obligation to implement risk management and governance, they have not specifically accommodated the demand to integrate economic, social and environmental aspect as a pillar of sustainable banking. This study is used normative juridical approaches and analytical descriptive research specifications, legal issues are how to implement sustainable financial principles in the banking sector and urgency of the bank’s sustainable report as an effort to identify bank compliance with sustainable financial principles. Banks are required to make and publish sustainable financial statements as a form of bank accountability to all stakeholders to comply with governance principles, in particular transparency obligations. This sustainable reporting is a form of report conducted by a company in order to disclose or communicate to all stakeholders on good environmental, social and governance performance in an accountable manner. 

scholarly journals Legal Consequences of Dualism Regulations on Micro Waqf Bank as a Sharia Microfinance Institutions in Indonesia

2020 ◽  
Vol 16 (1) ◽  
pp. 1-14
Author(s):  
Paramita Prananingtyas ◽  
Hari Sutra Disemadi
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Research Method ◽  
Legal Issues ◽  
Microfinance Institutions ◽  
Legal Research ◽  
Conceptual Approach ◽  
Legal Entity ◽  
Microfinance Institution ◽  
Legal Consequences

The presence of types of financial institutions in Indonesia makes it easy for people to choose which financial services they need. Micro Waqf Bank is one of the Microfinance Institutions that applies sharia principles that are currently growing and developing. However, there are legal issues related to arrangements for organizing a Micro Waqf Bank with a cooperative legal entity, namely, there are two overlapping regulations, namely the Microfinance Institution legislation, and Cooperative regulations. The purpose of this study is necessary to find out whether the legal consequences arising in the process of establishment, implementation, or if there are problems encountered by Mikro Waqf Banks as a Sharia Microfinance Institution incorporated as a cooperative. This study uses a normative legal research method with a statutory approach and conceptual approach. This study shows that the dualism of Micro Waqf Bank arrangements gives rise to contradictions in the arrangements for the establishment, guidance, and supervision. The existence of this dualism of regulation also gives rise to legal consequences in the establishment of a Micro Waqf Bank incorporated as a cooperative. The legal consequences are related to the broader aspects of business activities based on MFI regulations compared to cooperative regulations. Legal consequences related to capital aspects that require Micro Waqf Banks have a certain amount of capital by MFI regulations. Then from the aspect of coaching and supervision in which there are an examination and evaluation, there is also a dualism which in the regulation of the function of the cooperative is carried out by the Ministry of Cooperatives but the existence of the MFI regulation of the fostering and supervision function is under the authority of the Financial Services Authority.

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