The Law of Global Custody

Legal Risk Management in Securities Investment and Collateral (Fourth Edition)

By Madeleine Yates, Gerald Montagu

This book provides both an introduction to, and a detailed analysis of, the law relating to global custody. Carefully structured and clearly written, with annotations and helpful guidance throughout, the book offers an accessible and authoritative account of this complex area of law. It will benefit those wishing to review and manage legal risk in the field of global custody and related areas, such as escrow services, cross border securities collateral, and the post trade infrastructure. The reader will gain a better understanding of the implications of acting as - or holding assets with - a custodian, with more efficiency when providing or using custody services, drafting and negotiating custody terms, and creating or analyzing any structures involving a custody element. This fourth edition has been fully updated to take into account the significant legislative changes and developments that have taken place since the previous edition, including: an explanation of UK regulatory context, updated to reflect changes in the FSA rules, particularly as a result of the implementation of MiFID in the UK * a discussion of the Financial Collateral Directive, which now contains particular reference to the implementation of the Directive in the UK and the relevant issues arising * a summary of the operation of the CREST system (Euroclear, UK, and Ireland) that has been considerably revised and updated * international developments, including the draft UNIDROIT Convention on Substantive Rules regarding Intermediated Securities, and the EU Commission's Code of Conduct for Clearing and Settlement * up-to-date references to relevant case law and other source materials * an updated tax chapter to reflect the implementation and proposed reform of the EU Savings Directive, recasting of relevant legislation as a result of the tax law rewrite project * detailed amendments to relevant rules made by successive Finance Acts.

Publication Date: 1/31/2013
Format: Cloth
ISBN: 9781847668776