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The Law of Financial Services Groups

Charles H R Morris


Most legal textbooks and practitioners’ guides focus on the impact of financial services law and regulation as applicable to individual legal entities: the application of such law and regulation on a group basis is often a cursory afterthought, or neglected altogether. This book reverses the balance. It fully and systematically addresses how groups of businesses within the financial services sector are regulated. It starts with the company law and corporate insolvency law foundations and how they are established and formed into groups. It then builds up through prudential regulation and resolution-driven principles, focusing on how regulations apply and operate at a consolidated group and sub-group level, to the structural responses from firms and counter-responses from legislators and regulators. It also considers the tensions that arise from the conflicts between authorities and legal systems on a cross-border basis, and between the formal legal system and the powers and agendas of the regulators. The final section applies the principles explored in previous sections to a wide range of transaction types. The book covers intragroup transactions, and the role that regulation plays requiring and restricting the movement of financial resources around groups. The book is up to date as at April 2019, marking the culmination of over 10 years of intense regulatory change. It addresses UK ring-fencing rules and EU and US intermediate parent undertaking requirements, and considers the impact of Brexit and the EU banking reform/risk reduction package.

Bibliographic Information

Charles H R Morris, author

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