Tag: Banks

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  The Implications of the UN Guiding Principles on Business and Human Rights in a Banking Context

  The Thun Group of Banks published an important discussion paper on the scope of due dili-gence in the field of human rights that is required of banks that extend services to corporate clients.

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  Bank Insolvency: China and Europe compared

  In a unique global research project, the China University of Political Science and Law (CUPL, Beijing, China) and Leiden Law School’s Hazelhoff Centre for Financial Law are finalising and comparing new bank insolvency laws for China and Europe.

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  Insolvency for Perry Sport: still room for the interests of unsecured creditors?

  The recent insolvency for Perry Sport shows the advantageous position of banks in current insolvencies. One of the causes is the development of the collective deed of pledge, as accepted in Dix q.q./ING. How much room is left for the unsecured creditors?

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  The amoral mentality of bankers

  Joris Luyendijk, who has thoroughly analysed the world of bankers in London, argues that bankers can behave amorally because they only check whether their behaviour is permitted by law. Yet they definitely do violate the moral basis of law.

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  New Bank Insolvency Law for China and Europe

  Research project New Bank Insolvency Law for China and Europe is advanving well, Inventory Report I is nearing Completion. The report will be the focal point at a seminar that will take place in Beijing two weeks from now.

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  Shareholders, executives and banks: Does he who pays the piper, still call the tune?

  New remuneration requirements have an effect on shareholders, as they hinder the use of remuneration to align the interests of executives with their own interests. This ponders the question whether he who pays the piper, still calls the tune?

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  What about protest strikes by bankers? A serious game in Tunisia

  What happens when restructuring bankers play a turnaround workout game and change roles? A recent experience in Tunisia sheds some light on this.

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  What if… your bank fails? Recent European developments in the field of bank insolvency law

  Do you have a bank account? If so your position can suddenly change significantly as from next year. By the end of 2014, a large part of the rules of the Bank Recovery and Resolution Directive have to be implemented by the European Member States.

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  Has the Dutch Supreme Court accepted the English concept of the floating charge in Dutch Law?

  This blog draws a comparison between the English floating charge and the Dutch 'verzamelpandakte-constructie'. Has the Dutch Supreme Court accepted the English concept of the floating charge in Dutch law?

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  A bonus cap for all Dutch Financial Undertakings

  On 26 November 2013, the Dutch government published a draft legislative proposal in which it introduced a 20% bonus cap for financial undertakings. The scope and characteristics of this bonus cap will be addressed here.

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  UK government challenges bankers’ bonus cap

  A bonus cap for bankers is introduced in CRDIV. However, the UK government fears that this rule, amongst others, will undermine responsibility in the banking sector rather than promote it. The government has therefore lodged a legal challenge with the ECJ.

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  Complaining to the bank

  The Dutch civil code imposes upon the creditor a ‘duty’ to complain in good time about a defect in the performance of the debtor. But when does a client complain in good time about a bank violating its duty of care?

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  The Report of the Commission on the Structure of Dutch Banks

  On 28 June 2013 the Commission on the Structure of Dutch Banks issued its report Towards a Serviceable and Stable Banking Sector. In its report, the commission formulates eleven important recommendations.

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  Silence is Golden

  A banker disagrees with the manner in which the bank treats his client. Can a banker go public with his objections, or should he keep these 'in house'?

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  Out of the shadows…into the sun? Where financial policy meets party autonomy

  Can policy makers regulate ‘shadow banking’ without unjustified limitation of party autonomy?

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  Cross-border banks and crisis management

  On 6 June, the European Commission (Commission) presented a proposal for a Crisis Management Directive (CMD) to develop a common framework for the recovery and resolution of banks and investment firms. Lessons learned from the financial crisis?

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  Expansion of the ESM powers: Treaty change or not?

  Eurozone leaders recently decided that the ESM should expand its powers and provide direct aid to banks. Is this allowed under the current ESM treaty or is a treaty change (and thus a new round of ratification of national parliaments) necessary?

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  An unlimited duty of care of banks?

  The current standards of due care in financial law do not seem to offer enough protection to clients of financial undertakings. Financial supervisors suggest the introduction of a ‘generic’ duty of care: what are the limits of this proposed duty of care?

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  Emotional customers, cautious banks

  Banks have to warn their customers against the risks of trading in options and futures, all the more so when the customer is emotional about previous losses. Does that not, generally speaking, go too far?

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  The end of an area

  The euro crisis is back. Greek and French elections have put strengthening fiscal rules and rescue plans back on the agenda, no matter what Chancellor Merkel says. It is time to consider a civilized divorce of an ill conceived monetary marriage.

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  State aid is simply wrong

  Although state aid can be a profitable business for governments and although it seems to save companies and safeguard employment, it should be abolished from our capitalistic system. State aid is simply wrong.

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  I do solemnly swear…

  Friday the 13th is, arguably, not a bad day to introduce measures to prevent disasters from happening again. The Dutch Finance Minister, Jan-Kees de Jager, chose this day to introduce reforms in the banking and financial services industries.

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  Fortis: banks, fiduciary duties and the general interest

  The Enterprise Chamber of the Amsterdam Court of Appeal has made some interesting general statements about the fiduciary duties of the executive and supervisory boards of banks in the VEB/Ageas case. These statements will be addressed and evaluated.