bluuebunny/crossref_metadata_2025_split huggingface dataset:
Money, Government, and Sovereignty
Authors: Gleeson Simon 
Published: August 2024

Abstract
This chapter shows that there exists a vast literature across different branches of the social sciences discussing the linkage between money and sovereign authority—the best account being Charles Goodhart’s paper on The Two Concepts of Money. According to Goodhart, there are two predominant theories of origin and use of money: the theories of the Cartalists, who argue that the use of currency is based on the power of the issuing authority, which effectively orders its subjects to use its tokens as money; and those theories which argue that the origin of currency lies in the market. This latter group can be sub-divided into those who argue that the basis of the value of money is the intrinsic value of the coins used (Metallists), and those who argue that money originated as a private sector, market oriented response to overcome the transaction costs inherent in barter (Mengerians).
The Economic Consequences of Europe’s Banking Union
Authors: Véron Nicolas 
Published: August 2024

Abstract
This chapter considers how Europe’s banking union is a structural shift for the euro area’s banking sector. It has already had significant economic impact, as it contributed to the resolution of the euro area crisis from its inception in mid-2012 and has also led to an erosion of the moral hazard that remains pervasive in the system. More consequences are likely to unfold in years ahead, as the European Central Bank keeps tightening its banking supervisory framework, more cases of bank failures may emerge, and new EU legislation to ‘complete the banking union’ may be considered by the co-legislators. At this stage, the banking union has not yet achieved its stated economic objective of breaking the vicious circle between banks and sovereigns in the euro area. It has, however, laid the groundwork for possible future policy steps in that direction.
Governance of the Single Resolution Mechanism
Authors: Busch Danny 
Published: August 2024

Abstract
This chapter analyses the governance or decision-making structure of the Single Resolution Mechanism (SRM), particularly with respect to financing of the Single Resolution Fund and adoption of resolution schemes. The negotiations on the SRM and its governance were very difficult. The complex end result is clearly a compromise. Certain aspects of the complexity are due to technical reasons of European law. The SRM’s complex governance structure may well have a negative impact on the effectiveness of decision-making within the SRM framework—efficient, impartial, decisive, and quick decision-making is obviously crucial in the case of bank resolution. Whether the complex governance structure of the SRM will indeed have a negative impact on decision-making within the SRM framework remains to be seen. So far, there has been only one Single Resolution Board-led bank resolution, that of the Spanish bank Banco Popular. The chapter states that it would be premature to draw any conclusions from it, but the creation of the SRM (combined with the Single Supervisory Mechanism) is a milestone for the Eurozone and any other Member States deciding to join.
Payment
Authors: Bamford Colin 
Published: August 2024

Abstract
The chapter examines the process of payment, both as a description of the way in which a monetary obligation is discharged, and as a process by which money is transmitted from one person to another. In the former case, the chapter describes the operation of set-off, netting, consolidation of accounts and the operation of running accounts. In the latter case, it deals with the mechanisms for payment in the UK, internationally and at the level of the EU through the TARGET2 system, focusing in each case on the process of clearing through the central bank of the currency concerned. It also discusses Distributed Ledger Technology (DLT) and its use in payment and clearing systems.
Credit Support in Financial Markets
Authors: Bamford Colin 
Published: August 2024

Abstract
This chapter brings together the numerous mechanisms and ideas that have the effect of supporting a payment obligation, in the sense that the use of one (or more) of these concepts makes it more likely that the obligation will be fulfilled. This objective can be achieved in a number of ways: a third party may accept liability alongside the obligor, as in the case of someone who assumes a joint liability; or the supporter may take a secondary role as a guarantor. The chapter then looks at the forms of support that are available on a commercial basis, in particular performance bonds and export credit facilities. It considers the mechanisms that provide support by a more indirect route, such as comfort letters and credit derivatives. It concludes by examining a form of support that reaches its destination from the opposite direction: subordination, both in the form of general subordination of the creditor to the claims of all other creditors, and as subordination to the claims of a particular creditor.
The Construction of Financial Contracts
Authors: Bamford Colin 
Published: August 2024

Abstract
The chapter considers the way in which courts in common law countries interpret financial contracts. It begins by drawing a contrast between the objective of the approach adopted by common law countries (the objective approach) and that which underpins the construction method used in civil law countries (the subjective approach). It argues that the objective approach is more suitable for the purposes of the international financial markets. The chapter then discusses the difference between the meaning of a contractual term and the affect that the operation of the term produces. The chapter moves on to consider the principles by which common law courts determine the meaning of contracts, before concluding with a description of the rules dealing with rectification and with the implication of terms in contracts.
Introduction and Conclusion of the Contract
Authors: Bridge M G 
Published: August 2024

Abstract
This chapter begins with a background to the modern sale of goods legislation. The sale of goods is a specialized branch of the general law of contract. In two principal respects, however, the special law of sale of goods stands apart from general contract law. First, unlike most nominate contracts, sale involves a conveyance of the seller's property interest in the goods in favour of the buyer, which, together with the abundance of reported sales decisions, lends a degree of autonomy to this branch of the law. Second, sale has its own statutory code, the Sale of Goods Act 1979. The remainder of the chapter is devoted to certain aspects of the contractual formation process that merit attention in a specialist sale of goods text, including formalities, electronic commerce, and special statutory provision for abuses and potential abuses in the process of concluding a sale of goods contract.
Risk, Mistake, And Frustration
Authors: Bridge M G 
Published: August 2024

Abstract
This chapter discusses the law on risk, mistake, and frustration. Risk and frustration may be treated in proximity since the operation of frustration is bounded by the transfer of risk. One consequence of the transfer of risk to the buyer is that the buyer may not invoke the risk event so as to seek relief from the performance of contractual obligations under the doctrine of frustration. Risk is associated with the price: it determines when the buyer must pay for goods accidentally damaged, lost, or destroyed. Where a contract is frustrated, it is automatically discharged. Mistake also deals with the same subject matter of material mishap to the goods. Hence, there is a tendency to apply it with the same degree of rigour as frustration as a contractual dispensing agent.
Introduction
Authors: Jensen J Ole 
Published: August 2024

Abstract
This book examines a variety of issues concerning the role of tribunal secretaries in international arbitration, focusing on the tension between their perceived lack of legitimacy and the practical need for a division of labour. It emphasises the importance of transparency in both the appointment and use of tribunal secretaries and argues that the best way to achieve that transparency is to move towards an institutionalisation of the position of the tribunal secretary, and that the main components of such an institutionalisation must be a formal appointment process and legal certainty in regard to the secretary's scope of tasks. Part I of the book outlines the conceptual foundations for the discussion of tribunal secretaries, Part II provides a detailed analysis of the tribunal secretary's mandate, and Part III considers the pathological case of an irregular use of tribunal secretaries as well as the available remedies.
The Appointment Process
Authors: Jensen J Ole 
Published: August 2024

Abstract
This chapter proposes an appropriate process for the appointment of tribunal secretaries that maintains efficiency while safeguarding the parties' right to decide on how their arbitration should be conducted. After identifying which qualifications (legal education, prior experience in international arbitration, basic information technology skills, trustful relationship with the appointing arbitrator, etc.) and which level of impartiality and independence candidates for the tribunal secretary position should possess, the chapter considers how the parties should be involved in the appointment process and how the appointment should be formalised. It also describes the frequent situation where such a formal appointment process is not carried out and third-party support participates informally without the parties' knowledge and consent.
Introduction
Authors: Herbst Jonathan , Lovegrove Simon 
Published: August 2024

Abstract
This introductory chapter provides an overview of Brexit and its impact on financial services. Following the UK’s historic referendum concerning its future membership in the EU, various options for the UK’s future relationship with the EU were discussed in the media. Another question that was discussed in the media was whether or not UK financial services legislation would be rewritten once the UK had formally left the EU. Most in the market, however, felt that it would not. This was generally on the basis that the UK had played an important role in developing EU financial services legislation when participating in the EU institutions. There was also discussion as to whether or not standards and principles developed by international bodies such as the Basel Committee on Banking Supervision and the Financial Stability Board could, in the future, provide a bridge between the UK and the EU in defining a future relationship based on shared outcomes. The chapter then looks at the preparations of both the EU and the UK for a no-deal Brexit.
The EU Approach to Authorisation
Authors: Born Michael , Cristofolini Roberto , Nagelkerke Floortje , O’Connor Donnacha 
Published: August 2024

Abstract
This chapter provides an overview of the approach to authorisation taken by the German, French, Dutch, and Irish regulators, highlighting any divergences in approach set out by the EU institutions. Germany is one of the major destinations for UK entities relocating European-facing parts of their business activities in connection with their Brexit contingency measures. The German authorities have provided administrative guidance to entities in UK groups that intend to locate to Germany. However, the UK will become a third country following Brexit. Against this background, in order to protect the functioning and stability of the financial markets, Germany has introduced certain national transitional periods before the third country regime fully applies. Meanwhile, France has not put in place contingency measures such as a national transitional regime for UK credit institutions and investment firms. After exit day, UK credit institutions and investment firms will be subject to the standard regime applicable in France to non-European Economic Area firms. The chapter then considers the Dutch Brexit Act and the Brexit contingency planning in Ireland.
Alternative Investment Fund Managers Directive (AIFMD)
Authors: Green Jake 
Published: August 2024

Abstract
This chapter explores the AIFMD. Although UK AIFMs, unlike some of their European counterparts, had been authorised and regulated in the UK, AIFMD substantially altered and increased the regulatory burden on UK AIFMs. On the other hand, the key benefit for most EEA AIFMs of AIFMD was the introduction of the marketing passport that allowed for AIFMs to market funds throughout the EEA to professional investors without additional costs, disclosures, or other obligations imposed on the AIFM. Although the political situation may change the position of the UK government, on Brexit, AIFMD will essentially continue to apply to UK AIFMs. However, absent any transitional arrangements, the EEA will treat UK AIFs and AIFMs as third country (non-EEA) AIFMs and AIFs. There is a regime in place for these entities at present and this will apply to the UK as it does to managers in other jurisdictions.
Introduction
Authors: Morris Charles H R 
Published: August 2024

Abstract
This introductory chapter provides an overview of the law of financial services groups. A financial services group is a group comprising at least one business entity that provides financial services. Many such groups are well-known finance behemoths, but others may be better known within other sectors. In this latter category, one finds not only high street giants that own banking or insurance firms, but also a vast range of retailers and consumer service providers of all sizes that also provide finance intermediation services. This book is about the laws and regulations that shape and determine how such groups are formed, structured, and regulated, and how entities within such groups interact with each other. It focuses on how such influences and requirements work in practice: how they can be understood, addressed, and managed by a transactional or advisory lawyer or regulatory adviser.
Corporate Groups
Authors: Morris Charles H R 
Published: August 2024

Abstract
This chapter discusses the nature of corporate groups: why and how they have come into existence. Most lawyers and accountants are familiar with the idea that corporate groups comprise many different legal entities, each with their own distinct legal personality. Economists, however, tend to think of each such group as constituting a single economic unit, sometimes referred to as an enterprise or a firm. Nevertheless, as a matter of law, groups do not have a legal personality of their own, but comprise distinct and separate units. Hence, groups are not able to sue, be sued, or own/have legal interests in tangible or intangible property. The chapter then considers the development of corporate groups as well as the many different ways in which groups can be described or characterized.
Group Prudential Regulation
Authors: Morris Charles H R 
Published: August 2024

Abstract
This chapter addresses how prudential regulation requirements apply on a group basis. Capital adequacy requirements form the core of most prudential regulatory regimes. In essence, each prudential regime seeks to apply the relevant capital requirements to the group as a whole, whilst solving problems such as excessive leverage and double or multiple gearing. The imposition of such group requirements, in effect, raises the bar for capital requirements across the group: meaning that lightly capitalized group entities are, on a group basis, capitalized on the same basis as their more highly regulated trigger entity affiliates. There are various different approaches to applying capital adequacy requirements on a group basis. In very general terms, such approaches include variations of a consolidation approach or a deduction and aggregation approach, or a combination of both. Each approach seeks to assess capital requirements on the basis of the group as a whole and to ensure that such requirements are met with group capital resources.
Employees and Officers of a Group
Authors: Morris Charles H R 
Published: August 2024

Abstract
This chapter looks at the human element of financial service groups. Specifically, it considers how directors’ duties, rules relating to senior managers, and rules relating to the remuneration of financial services professionals operate in a group context. The regulation of individuals within the financial services industry—in particular, their duties, responsibilities, and remuneration—is a very significant theme of modern financial regulation which has come under intense scrutiny and change in the wake of the global financial crisis, most significantly with reforms to remuneration across the EU and the introduction of the senior managers regime in the UK. The chapter then studies some of the issues that arise when employees act on behalf of different entities within a group. The most commonly encountered problem—with far-reaching consequences—is the impracticability of maintaining a clear division between roles. If a person is to represent more than one business entity in their day-to-day role, it is necessary to establish and to maintain a clearly identifiable separation between each such function, so that it is clear in which capacity such person is acting.
Rescission and Independent Claims
Authors: O’Sullivan Dominic 
Published: August 2024

Abstract
This chapter focuses on recission and independent claims. It explains how a recission claim could trigger claims to damages or its equitable counterpart. A right to rescind is independent of the claimant’s rights to the damages in tort. The chapter then expounds on equitable compensation, which depends on the breach of fiduciary duty. Compensation is calculated according to the principles governing restitution and counter-restitution upon recission. The chapter looks into the seminal decision involving the Re Cape Breton Company’s case. It also considers the exceptions that limited the scope of the rule in Re Cape Breton Company, such as the sale of the principal’s own property and regular trade supplies.
Financial Adjustments
Authors: O’Sullivan Dominic 
Published: August 2024

Abstract
This chapter looks into financial allowances and adjustments made as an incident of the restoration of the parties to their original positions upon rescission. It clarifies that most types of allowances and adjustments are only available upon rescission in equity. Most of the time, the responsibility of proof will fall on the claiming party. Upon rescission, each party are mandated to account for the benefits upon gaining asset ownership. Benefits derived from land and chattels are some of the issues from restitution and counter-restitution that must be made upon rescission. The chapter then discusses joint acquisitions, interest, and indemnity to expound on restitution and counter-restitutions. It also considers the alteration of assets to impose compensation.
Conduct of the Arbitration (Articles 13–22, 25–26, 31–32)
Authors: Moser Michael , Bao Chiann 
Published: August 2024

Abstract
Chapter 9 covers all aspects of the conduct of the arbitration, including: Article 13 (general provisions), Article 14 (Seat and Venue of the arbitration), Article 15 (language), Articles 16–18 and 20–21 (written submissions), Article 19 (jurisdiction of the arbitral tribunal), Article 22 (evidence and hearings), Article 25 (tribunal-appointed experts), Article 26 (default), Article 31 (closure of proceedings), and Article 32 (waiver).
The Right to a Fair Trial and Private International Law
Authors: Fawcett James J , Shúilleabháin Máire Ní , Shah Sangeeta 
Published: August 2024

Abstract
This chapter analyses the impact of private international law rules on the right to a fair trial, and vice versa. There has been a very limited impact of private international law rules on the right to a fair trial. This is because the private international law regime has often accommodated the interests protected by the right to a fair trial. As a result, there has been a significant lack of cases regarding the operation of private international law rules and the right to a fair trial. Similarly, the impact of the right to a fair trial can be seen to have been distinctly inconsistent in terms of which rules of private international law have been affected and which State’s rules have been affected.
Religious Rights and Recognition of Marriage and Extra-Judicial Divorce
Authors: Fawcett James J , Shúilleabháin Máire Ní , Shah Sangeeta 
Published: August 2024

Abstract
This chapter examines the compatibility of the English private international law rules regarding recognition of religious marriages and divorces with the right to freedom of religion. When it comes to assessing the impact of religious rights on English private international law rules there has not been much ‘direct’ impact. Rather, the English private international law rules on marriage and divorce are generally compatible with Article 9 ECHR, which protects the absolute right to hold a particular belief and the freedom to manifest a belief. Moreover, instances of religious discrimination are relatively rare in the modern law. However, English law is significantly out of line with European practice in the balance it strikes between religious and gender interests in its accommodation of overseas religious divorces.
The Investigation of Cartels
Authors: Kellaway Ros , Nuijten Jan 
Published: August 2024

Abstract
The European Commission has extensive fact-finding powers in its investigation of cartels. The chapter discusses those powers of investigation, in particular the European Commission’s powers of inspection, dawn raids, and the legal framework of inspection, as well as issues of legal professional privilege, litigation privilege, the privilege against self-incrimination, and disclosure. It also considers requests for information and the responses required, as well as practical tips for practitioners. These topics are discussed by Ros Kellaway (Eversheds, London) from a private practitioner’s perspective and by Jan Nuijten (case handler, Cartels Directorate, Directorate-General for Competition, European Commission) from the angle of a public enforcer.
Private Enforcement
Authors: De Meese Thomas , De Smijter Eddy 
Published: August 2024

Abstract
The chapter focuses on the use of competition rules in private litigation to claim compensation for damages. It describes key issues that any private litigant will need to address when contemplating legal action. First, the chapter outlines who can sue and who can be sued, where and when to sue, and how to obtain the necessary information to assess and formulate a claim. The chapter then turns to the compensation that can be claimed and the related issues of causation (including the passing-on defence) and quantification of the damages. These topics are dealt with by Thomas De Meese (Crowell & Moring, Brussels) from the angle of the private practitioner. Eddy De Smijter (head of the Private Enforcement Unit, Directorate-General for Competition, European Commission) focuses on two provisions of the Private Damages Actions Directive (access to evidence and joint and several liability) from the perspective of the public enforcer.