Yeowart and Parsons on the law of financial collateral / Geoffrey Yeowart, Hogan Lovels International LLP, UK; Robin Parsons, Sidley Austin LLP, UK ; with Edward Murray, Allen & Overy LLP, UK; Hamish Patrick, Shepherd and Wedderburn LLP, UK.

Format:

Book

Author/Creator:

Yeowart, Geoffrey, author.

Parsons, Robin, author.

Murray, Edward (Edward Henry), author.

Patrick, Hamish (Lawyer), author.

Series:

Elgar financial law and practice.

Elgar financial law and practice

Language:

English

Subjects (All):

Security (Law)--Great Britain.

Security (Law).

Great Britain.

Physical Description:

1 online resource (902 p.)

Place of Publication:

Cheltenham, United Kingdom ; Northampton, Massachusetts : Edward Elgar Publsihing, [2016]

Language Note:

English

Summary:

This book is the first of its kind to offer a systematic examination of the whole law relating to financial collateral. It does so in two parts. First, it explains the law created by the Financial Collateral Arrangements (No 2) Regulations 2003, the Directive it implemented and related legislation. Second, it examines how financial collateral is used in practice in a range of different markets. It will be an essential reference point for all legal practitioners operating in financial markets.

Contents:

Purpose of the financial collateral directive, the legislative background and key issues addressed by the directive

Scope of the financial collateral regulations

The tyes of financial collateral : cash, financial instruments and credit claims

Formal requirements disapplied by the FCARs and extent of exemption from those requirements

Impact of UK insolvency law and bank resolution measures and the extent to which these are disapplied in relation to financial collateral arrangements

Title transfer financial collateral arrangements

Security financial collateral arrangements

'Possession' of 'control' test to be satisfied when creating a security financial collateral arrangement

Extent to which a collateral-provider may be permitted to exercise rights attaching to charged securities, such as voting rights and the right to receive income, if the 'possession' or 'control' test is to be satisfied

Close-out netting provisions and the financial collateral regulations

The right o fuse and the legal consequences of its exercise, including issues of priority

Remedy of appropriation

Financial collateral and the conflict of laws

Retroactivity of the financial collateral regulations

Taking and perfecting security over financial collateral

Use of securities held in the CREST system as collateral

Use of close-out netting and financial collateral in relation to derivatives (including ISDA documentation)

Special issues arising from the use of financial collateral in repos, securities lending and prime brokerage, including treatment of client assets and use of market standard documentation (other than ISDA documentation)

Use of book entry securities as collateral

Use of financial collateral in UK clearing houses

Use of contractual set-off and flawed asset arrangements for taking cash collateral

Regulatory treatment of financial collateral arrangements ; margin requirements for non-centrally cleared derivatives ; and reporting of securities financing transactions

Scottish law perspective on te financial collateral regulations and their application

Law reform.

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on print version record.

ISBN:

1-78254-632-4