Securitisation Law

Written by over two dozen experts with hands-on experience, this timely and insightful work explains the benefits--and risks--of securitization, the legal tax, accounting, and other issues involved.

The book The Law of Securitisations: From Crises to Techno-sustainability provides a full and detailed account of the EU legislation in the area of structured finance with the new legal rules dissected and discussed in their full extent. Securitisation transactions have been identified in the literature among the main reasons for the 2007–2008 financial crisis, alongside derivative contracts. More than a decade later, the EU legislature passed in 2017 a legal framework comprehensively disciplining the area of securitisations in the EU. On such a background the main purpose of the book is to discuss and analyse, in a holistic way, both the rationale behind the securitisations as financial transactions and their main players (e.g. originators, SPVs and credit rating agencies) and their "ESG" (Environmental, Social and Governance) challenges, particularly the recent regulation passed in the EU during the 2020–2021 global pandemic. The goal of this legal analysis is to identify and clarify the entire legal process of securitisations, as a result of the new EU legislation, as well as duties, responsibilities and practices incumbent on the main players. Furthermore, the monograph is also concerned with the new challenges facing financial markets and their regulation: the new concept of sustainability and the development of technology. In this scenario, there is a blend of financial issues, new environmental challenges and, ultimately, the role human beings are expected to play, also from a social justice perspective. Adopting not just doctrinal methodology but also comparative (from a private law perspective) and interdisciplinary (regulatory and law and economics), the authors also include a discussion of the main literature which has blossomed over the last two decades on structured finance transactions, particularly the literature that unveiled, a decade ago, the concept of shadow banking. This book will be one of the first to focus on the new EU Securitisation Regulation and will be of interest to academics, students and practitioners of financial law.

Securitisation Law: EU and US Disclosure Regulations sets out the relevant regulations governing asset backed securities in the US and the EU. It provides the most up-to-date commentary and checklists alongside practical aids such as flow charts relating to disclosure regulations of asset backed securities governed by the EU prospectus directive and prospectus regulation, and the US Regulation AB. The book also contains a discussion on the latest case law (including case studies) and critical legal issues. One of the unique features of this book is its international scope. It is intended to meet the demand of international practitioners, and also to set out a comparative methodology that will allow practitioners to decide regulatory compliance issues relating to a particular jurisdiction and to help determine whether a particular approach is sufficiently credible against comparative benchmarks, which is increasingly pivotal in the current economic climate.

Securitization--once a fairly straightforward means of offering collateral for investment--has mushroomed into a massively complex area of financial practice. The central role occupied by such risk-distributing products as collateral debt obligations (CDOs), credit default swaps (CDSs), collateral loan obligations (CLOs), and credit derivatives has given rise to one of the most crucial inquiries of our era: Is the financial collapse that threatens the world financial system due merely to rogue traders? Or is there something in the derivative idea itself that spells inevitable disaster? Most important, can we isolate the truly productive aspects of securitization and learn to recognise pitfalls in advance? As always in such ideational minefields, it is the legal practitioners who are expected to provide guidance to distressed investors and asset dealers. Hence this vital new book. Written from a distinctly practical point of view by Jan Job de Vries Robb� with contributions from Paul Ali and Tim Coyne--all three leading authorities with extensive experience as counsel both in-house and in private practice, in addition to sterling academic credentials--the book sheds clear light on every aspect of today's securitization techniques, including welcome guidance on the following: ; keeping track of exposure to the CDO market; and evaluating such emerging asset classes as commodity risk, microfinance, and project finance risk. In the course of the analysis the book proceeds from the relevant framework and guiding legal principles, through key risks and building blocks in securitization transactions, to the various product classes and sub-classes and their differences and common denominators. Non-credit risk and niche products (such as fund and insurance securitization) are also covered. The final chapters are devoted to the applicable rules as laid down in Basel II and International Financial Reporting Standards.

This up-to-date treatment of an area of increasing importance provides an in-depth and clear analysis of the complexities of the subject

Policing Cities brings together international scholars from numerous disciplines to examine urban policing, securitization, and regulation in nine countries and the conceptual issues these practices raise. Chapters cover many of the world’s major cities, including New York, Beijing, Paris, London, Berlin, Mexico City, Johannesburg, Rio de Janeiro, Boston, Melbourne, and Toronto, as well as other urban areas in Britain, United States, South Africa, Germany, Australia and Georgia. The collection examines the activities and reforms of the traditional public police, but also those of emerging public and private policing agents and spaces that fall outside the public police’s purview and which previously have received little attention. It explores dramatic changes in public policing arrangements and strategies, exclusion of urban homeless people, new forms of urban surveillance and legal regulation, and securitization and militarization of urban spaces. The core argument in the volume is that cities are more than mere background for policing, securitization and regulation. Policing and the city are intimately intertwined. This collection also reveals commonalities in the empirical interests, methodological preferences, and theoretical concerns of scholars working in these various disciplines and breaks down barriers among them. This is the first collection on urban policing, regulation, and securitization with such a multi-disciplinary and international character. This collection will have a wide readership among upper level undergraduate and graduate level students in several disciplines and countries and can be used in geography/urban studies, legal and socio-legal studies, sociology, anthropology, political science, and criminology courses.

A collection of essays on topical contract issues, covering subjects including: Paradine v Jayne; foreign currency judgements; agency problems in insurance law; increased expense and frustration; failure of consideration; restitutionary consequences of illegality; and proprietary estoppel

This work comprises of a review of title finance with summaries of documents and precedents. It includes finance leases and sale and repurchase agreements, and chapters on the techniques of securitization. Also provided are country notes, a comparative study of set-off and netting, including a summary of the netting laws of the world's major jurisdictions, and finally a review of swaps and derivatives.