bluuebunny/crossref_metadata_2025_split huggingface dataset:
A Look towards the Future—The ICC and ‘Lessons Learnt’
Authors: Ambach Philipp 
Published: June 2017

Abstract
This Chapter focuses on some of the Court’s major future challenges, and initiatives to improve the efficient management of criminal proceedings. It discusses challenges and strategies in relation to five main issues: (i) global membership; (ii) cooperation; (iii) complementarity; (iv) judicial integrity; and (v) efficiency of proceedings, before addressing specific features of the Lessons Learnt initiative, which was established in 2011 to assess the functioning of the ICC’s procedural framework and look into possible improvements. The Chapter analyses the practice of the ASP, including amendments of the Rules of Procedure and Evidence regarding the accused’s presence at trial. It argues that the ICC has come a long way in the past decade. It concludes with some practical suggestions to improve the relationship to non-States Parties, enhance cooperation and technical assistance, and strengthen the efficiency of the ICC.
Unregulated Financial Services and the Impact on Transactions
Authors: McMeel Gerard 
Published: June 2017

Abstract
The previous sectoral or fragmented approach to financial services regulation led to inconsistent conclusions regarding the impact of statutory prohibitions on the integrity of resulting contracts. This chapter shows that the Financial Services and Markets Act 2000 largely continued the solutions introduced by the Financial Services Act 1986 for the particular problems of unauthorised investment and insurance business. The earlier case law remains instructive, in that it sheds light on the judicial techniques deployed. The regime of the 2000 Act is considered, which explicitly provides an answer to this conundrum.
Breach of Statutory Duty
Authors: McMeel Gerard 
Published: June 2017

Abstract
The Financial Services and Markets Act 2000 frequently confers a statutory right of action upon designated persons where loss has been suffered as a result of a breach of duty under the Act or delegated legislation, or other rules made under its aegis. However, the relationship between the background common law and the statutory regime causes problems of exposition and overlap. This chapter considers applications of breach of statutory duty for the benefit of consumers who have suffered financial loss as a result of non-compliance by financial services professionals.
Claims in Contract
Authors: McMeel Gerard 
Published: June 2017

Abstract
This chapter considers a number of issues which are crucial to financial advice and financial products. First, it looks into the circumstances in which a court will decide that financial advice has been proffered under the terms of an applicable contract. In particular, it addresses the question of whether the doctrine of consideration is satisfied where the adviser is not directly paid by the recipient. Secondly, it considers incorporation and the implication issues of particular concern in a financial services context. Thirdly, it examines the modern approach to interpreting contracts, which has been honed as a result of the problems arising from financial services cases. Fourth, the chapter deals with the twin requirements of the Unfair Terms in Consumer Contracts Regulations 1999.
Misrepresentation and Duties of Disclosure
Authors: McMeel Gerard 
Published: June 2017

Abstract
This chapter surveys the relevant private law on actionable representations and duties of disclosure so far as those provisions have an impact on financial services. There is no attempt to provide a general description of causes of action and remedies for misrepresentation, as the rules can be found in the standard texts. However, some authorities which are especially pertinent to the provision of financial advice are introduced. The remainder of the chapter is concerned with duties of disclosure.
Equitable Claims:
Authors: McMeel Gerard 
Published: June 2017

Abstract
This chapter first discusses the legal principles governing the recognition of fiduciary responsibility as applied to financial advisers. It then explains the law on transactions tainted by undue influence and unconscionable bargains. The equitable jurisdiction to grant relief in respect of transactions tainted by undue influence operates as a supplement to the common law of duress. While there is no general doctrine of a power to intervene in contracts and other transactions on the grounds of inequality of bargaining power at common law, there exists a jurisdiction in equity to relieve against unconscionable bargains.
Intermediaries
Authors: McMeel Gerard 
Published: June 2017

Abstract
This chapter discusses the law governing intermediaries in the financial services industry. The relationship between the various species of intermediary and both the service provider and the customer, is prima facie governed by the rules of agency developed at common law, together with a statutory overlay. The Financial Services Act 1986 introduced the statutory concept of the appointed representative, which allowed regulated persons to appoint other persons for whom they accepted regulatory responsibility, and as a measure of consumer protection initiated a regime of vicarious responsibility, whereby the appointing principal was deemed responsible for everything said or done, or not said or done, by its appointed representatives. That regime was continued and expanded to the whole financial services industry by the Financial Services and Markets Act 2000.
Financial Promotion
Authors: McMeel Gerard 
Published: June 2017

Abstract
This chapter focuses the two financial promotion regimes created by the provisions of the Financial Services and Markets Act 2000. First, there is the regulatory prohibition on unauthorized persons making a financial promotion. Secondly, a wholly different regime applies in respect of authorized persons. The supposed rationale for the detailed restrictions on financial promotion is the complexity of and long-term commitments inherent in many financial products.
Standards of Conduct:
Authors: McMeel Gerard 
Published: June 2017

Abstract
This chapter discusses the rules and regulations setting the appropriate standard of behaviour for those who proffer financial advice and retail financial products. It explains the rules for the carrying on of financial services business, and in particular how contracts are formed and performed. It details the standard of care in negligence and the three pillars of the modern standard of behaviour required of a financial adviser: the obligations to know the client, to make suitable recommendations, and to provide an adequate understanding of risk. These are the principles underlying the detailed requirements of the conduct of business rules.
Regulation of Consumer Credit Business by the Financial Conduct Authority
Authors: McMeel Gerard 
Published: June 2017

Abstract
This chapter discusses the Financial Conduct Authority's (FCA) regulation of the consumer credit industry. It begins with an introduction to the consumer credit regime. It then details the scope of regulated credit-related activities, covering the rules for entering into a regulated credit agreement; entering into a regulated consumer hire agreement; operating an electronic system in relation to lending; credit broking; and debt adjusting, debt-counselling, debt-collecting and debt administration. This is followed by discussions of the authorisation, supervision, and enforcement of credit-related activities and credit firms by the FCA; conduct of business standards; and the rights of action and complaints to the Ombudsman.
Defences
Authors: Virgo John 
Published: June 2017

Abstract
This chapter first considers the available defences (both complete and partial) to claims for the mis-selling of financial products. It then discusses the provisions of the Limitation Act 1980; the concept of causation; situations in which contributory negligence may arise; circumstances in which recourse for contribution may be available against third parties where a defendant becomes exposed to a claim for mis-selling; and the defence of contractual estoppel.
Hong Kong’s Financial Markets
Authors: Arner Douglas W , Hsu Berry FC , Goo Say H , Johnstone Syren , Lejot Paul , Tse Maurice Kwong-Sang 
Published: June 2017

Abstract
The chapter provides an in-depth discussion and analysis of finance in Hong Kong, today one of the world’s major international financial centres, focusing on historical developments along with some of the unique or unusual features of those markets. The chapter considers financial law in relation to financial activity as a whole, and within each segment of Hong Kong’s markets. Hong Kong has been a port of trade since the mid-nineteenth century and subsequent centre of commerce. However, only recently has it developed as a major financial centre. It is known for its unusual institutional foundations, the nature of which are analysed and contrasted at intervals in this book with those of other sophisticated financial hubs.
Banking Regulation and the Hong Kong Monetary Authority
Authors: Arner Douglas W , Hsu Berry FC , Goo Say H , Johnstone Syren , Lejot Paul , Tse Maurice Kwong-Sang 
Published: June 2017

Abstract
This chapter explains the legal and institutional framework for banking in Hong Kong. It discusses the regulation of financial intermediaries, products, and services in the context of a framework based largely on the Banking Ordinance, the Exchange Fund Ordinance, and the Clearing and Settlements Systems Ordinance, supported by ordinances derived from international best practice. The chapter summarizes the main functions of the Hong Kong Monetary Authority (HKMA). Established in 1993, the HKMA maintains Hong Kong as an international financial centre and ensures that Hong Kong’s legal and regulatory framework for banks is comprehensive and of an international standard. At the same time, the chapter argues, the system’s many divisions allow certain risks to remain unaddressed. A specific area of concern applies to financial conglomerates, in that there is no clear division of regulatory responsibility in the case of the insolvency of a financial conglomerate.
Financial Derivatives
Authors: Arner Douglas W , Hsu Berry FC , Goo Say H , Johnstone Syren , Lejot Paul , Tse Maurice Kwong-Sang 
Published: June 2017

Abstract
This chapter examines the financial derivative instruments traded and used in Hong Kong. The chapter describes the current main types of financial derivatives, their uses and risks, and examines Hong Kong’s twofold approach to their regulation. It also raises questions that may not be fully addressed in any major financial jurisdiction; for example, how the law accounts for relatively new, sophisticated contracts, especially in relation to user protection; whether related areas of law such as bankruptcy may conflict with what has become customary derivative market practice; and how credit risk transfer facilitated by derivative instruments may conflict with established precepts of financial regulation. Lastly, it considers whether links between the territory’s regulators and the stock exchange are well-suited to the supervision of certain derivative activity and to investor protection.
A Guide to the HKIAC Arbitration Rules
Authors: Moser Michael , Bao Chiann 
Published: June 2017

Abstract
This book provides a detailed commentary on the Hong Kong International Arbitration Centre (HKIAC) Administered Arbitration Rules providing practitioners with an insider’s perspective on how the HKIAC Secretariat administers arbitrations under these rules. HKIAC is one of the world’s most sophisticated arbitration institutions, which established a set of Administered Arbitration Rules in 2008. Since then, HKIAC has enjoyed a continued yearly growth in cases. In 2015, HKIAC saw a record number of arbitration cases in 2012. This guide makes reference to the Hong Kong Arbitration Ordinance as well as drawing comparisons with other institutional rules and the UNCITRAL Model Rules to emphasize key issues to consider when drafting an arbitral clause or strategizing over the conduct of an arbitration. As well as offering an insider’s perspective it provides examples of anonymous cases handled at the HKIAC, and a discussion on various issues arising from arbitrations involving mainland parties or enforcing arbitration awards in mainland China. The book not only draws from seven years’ experience administering arbitrations under the HKIAC Administered Arbitration Rules (2008) but highlights the various changes made in the revised Rules that came into effect in November 2013 benefiting from privileged access. The book begins with an introduction to the HKIAC, including a history with statistics and details of other services provided by the HKIAC itself. The commentary then goes on to examine each article in depth. Relevant supporting documents are appended including Recommended HKIAC Arbitration Clauses, HKIAC Administered Arbitration Rules (2013), UNCITRAL Arbitration Rules 2010, and the Hong Kong Arbitration Ordinance.
Model Arbitration Clauses
Authors: Moser Michael , Bao Chiann 
Published: June 2017

Abstract
This chapter discusses the purpose and function of model arbitration clauses. A model arbitration clause recommended by an arbitral institution provides for the essential elements of an arbitration agreement. Such model arbitration clauses are of a general nature and are thus suitable for many different types of agreements. Parties who choose to include an arbitration clause in their agreement may in addition modify a model clause to suit their needs. With these in mind the chapter begins with a general discussion of the nature and scope of model arbitration clauses, followed by an overview of the components of HKIAC model clauses. The chapter then concludes with a discussion of some further considerations for arbitration clauses.
General Provisions of the HKIAC Rules (Articles 1–3)
Authors: Moser Michael , Bao Chiann 
Published: June 2017

Abstract
This chapter examines those provisions that generally frame an arbitration under the HKIAC Rules. It first discusses Articles 1.1, 1.3, and 1.4 (scope of application of the HKIAC Rules and arbitrations which may be administered under the HKIAC Rules) as well as Article 1.2 (how the HKIAC Rules interact with the other rules promulgated by the HKIAC). The chapter then turns to Articles 2.1 and 2.2 (how notices and other written communication should be delivered and when they will be deemed to have been received). Next, the chapter examines Articles 2.3 and 2.4 (calculation of time limits under the HKIAC Rules). Article 3 (definitions of key terms used throughout the HKIAC Rules) is last to be discussed.
Duck-Rabbits, a Panel of Monkeys, and the Status of International Arbitrators
Authors: Rogers Catherine A 
Published: June 2017

Abstract
This chapter examines the dual role of arbitrators as service providers and adjudicators. The public conceptualization of international arbitrators has often leaned towards seeing them as either contract providers of sorts or adjudicators, but never both. The arbitrator's status is thus often a conflict between ‘service provider’ and ‘justice provider’. Yet arbitrators are, as discussed in previous chapters, professionals whose ethics are grounded in real-world perspectives. This chapter analyses several ideas and philosophies that corroborate a dual conception of the ideal arbitrator as both service provider and justice provider, and that neither aspect is independent from the other. Several institutions across the world are beginning to recognize this duality, fortunately, as the greatest strength of an international arbitrator is his ability to straddle these dual roles, rather than subject themselves to mere one-dimensional representations.
Redfern and Hunter on International Arbitration
Authors: Blackaby Nigel , Partasides Constantine , Redfern Alan , Hunter Martin 
Published: June 2017

Abstract
This sixth edition of Redfern and Hunter on International Arbitration takes a fresh look at the law and practice of international arbitration in today’s world, against a background of constant change and evolution. Since the fifth edition of this book was published in 2009, there have been major changes in many national laws governing international arbitrations, as states seek to become ‘arbitration friendly’ by introducing new laws based on the United Nations Commission on International Trade Law (UNCITRAL) Model Law. There have been changes too in some of the best-known rules of arbitration, including new UNCITRAL Rules of Arbitration (2010), new International Chamber of Commerce (ICC) Rules of Arbitration (2012), and, in October 2014, new Rules from the London Court of International Arbitration (LCIA). There have also been important developments in the so-called soft law of international arbitration. In 2010, the International Bar Association (IBA) published a revised version of its Rules on the Taking of Evidence in International Arbitration, and followed this up in 2014 by publishing new and important Guidelines on Conflicts of Interest in International Arbitration. This sixth edition of Redfern and Hunter reviews the many changes that have taken, and are taking, place in the law and practice of international arbitration, and it places these changes in context as part of the constant evolution of a voluntary system of dispute resolution that is today recognised and established worldwide.
Arbitration under Investment Treaties
Authors: Blackaby Nigel , Partasides Constantine , Redfern Alan , Hunter Martin 
Published: June 2017

Abstract
This chapter describes the arbitration process under international investment treaties, in particular under the Washington Convention of 1965. This Convention aimed primarily to create a new arbitral forum for the resolution of disputes between investors and states by means of the inclusion of arbitration clauses in state contracts. The travaux préparatoires of the Convention also made clear that the consent of the state to arbitration could be established through the provisions of an investment law, which prompted many states to develop a programme of bilateral treaties for the promotion and protection of investments, so-called bilateral investment treaties (BITs), which set out protections in favour of foreign investment. The dramatic growth of BITs since the mid-1980s has led to the adoption of similar provisions in the ‘investment chapters’, or collateral agreements, to multilateral economic cooperation treaties, such as the Association of Southeast Asian Nations (ASEAN) Comprehensive Investment Agreement.
Recognition and Enforcement of Arbitral Awards
Authors: Blackaby Nigel , Partasides Constantine , Redfern Alan , Hunter Martin 
Published: June 2017

Abstract
This chapter examines the recognition and enforcement of arbitral awards. It discusses the carrying out, or performance, of awards, so as to place recognition and enforcement in their proper context. In arbitration, if the losing party fails to carry out an award, the winning party needs to take steps to enforce performance of it. Two steps may be taken. The first is to exert some form of pressure, commercial or otherwise, in order to show the losing party that it is in its interests to perform the award voluntarily. The second is to invoke the powers of the state to obtain a charge over the losing party’s assets or in other ways to compel performance of the award. Pressure may also be exerted through adverse publicity. This method is adopted by trade associations and has the effect of discouraging other traders in the market from dealing with the defaulting party.
The Scope of Inquiry:
Authors: Llamzon Aloysius P 
Published: June 2017

Abstract
This chapter analyzes the nature of international investment arbitration and how that modality of dispute settlement differs from international commercial arbitration. The most obvious difference between investment and commercial arbitration is the nature of the parties' consent to arbitrate. In contract-based commercial arbitration, consent is expressed in a mutual, largely contemporaneous exchange of promises to bring a present or future dispute to arbitration. But in investment treaty arbitration, the host State's consent is usually expressed as an open offer of arbitration for all nationals of the counterparty State to the investment treaty. Investment arbitration proceedings also operate at high levels of transparency relative to commercial arbitration.
Emergent Trends
Authors: Llamzon Aloysius P 
Published: June 2017

Abstract
This chapter identifies nine trends that have emerged from the two decades of arbitral treatment of corruption issues by investment tribunals. Among these are that corruption cases are almost never outcome-determinative; corruption is raised almost three times as much by host States as by investors, and often invoked by host States as a complete defence against all investor claims; investors raise corruption less frequently and have never successfully secured a corruption finding; and that the treatment of corruption issues varies according to who is making the allegation; and this asymmetry has real implications on the outcome of cases.
Insurance
Authors: Benatar Martin 
Published: June 2017

Abstract
This chapter considers the approach taken by financiers to insurance in project finance transactions. Itfocuses onthe types of insurances that lenders will require (such as material loss insurance, consequential loss insurance, and liability insurance),why financiers typically require insurance to be procured and controlled by the project company, and how commercial influences such as the creditworthiness of the insurers and re-insurance requirements impact upon a project finance insurance programme.In addition to examining general insurance law principles (such as full value coverage and the treatment of force majeure), this chapter also considers the provisions that are customarily endorsed on project insurance policies for the benefit of the lenders (such as a broker’s letter of undertaking).
Principal Loan Finance Documentation
Authors: Cox Vicky , Holmes Patrick 
Published: June 2017

Abstract
This chapter considers a number of the more significant documentary issues commonly encountered in relation to the core financing documents for a project. It provides an overview of the ways in which multiple tranches of debt provided by different lenders and lending groups are made available to a project and includes an analysis of various clauses found in the principal financing documents, with particular focus on financial covenants and the ways in which lenders seek to regulate the project company’s cashflows. The chapter also discusses a number of the key intercreditor issues that arise in the context of multi-sourced financings and looks specifically at the following agreements which commonly form part of the contractual matrix for a project financing: credit agreements, common terms agreements, accounts agreements, intercreditor agreements, ECA facility agreements, mezzanine facility agreements, and equity bridge facility agreements.
Islamic Project Finance
Authors: Dewar John , Hussain Munib 
Published: June 2017

Abstract
This chapter analyses the priorities of Islamic financial institutions in financings, and how Islamic finance techniques are applied in project financings. For those unfamiliar with Islamic finance, this chapter first introduces Islamic finance by considering the sources of Islamic finance, followed by an analysis of the principles and financing techniques that underpin Islamic finance. This background is intended to enable the reader to better understand the ensuing discussion of the issues that commonly arise in a project financing that is entirely or in-part financed with sharia’a-compliant funding, including istisna’a-ijarahand wakala-ijarah facilities, and project sukuk.Then, the focus is turned to assess how Islamic project finance techniques are utilized in practice, in particular, in the context of multi-sourced project financings.