The European Union is moving towards the full implementation of the Investment Services Directive (ISD). Indeed, in some Member States, further changes to the domestic legal framework to increase competition among financial institutions and markets will complete or complement its implementation.
This book includes updated papers written by academics and practitioners from Europe and the United States and presented at the Genoa Seminar on European Investment Markets, held in November 1996.
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The question of what constitutes ‘fraud in the transaction’ with respect to international letters of credit varies considerably among jurisdictions. In proving allegations of fraud, it is crucial for the practitioner to know the relevant jurisdiction’s case law, especially if wider defences such as inducement, unconscionable conduct or bad faith must be invoked. In this book, the author argues that, whereas ‘fraud in the documents’ is generally sufficient in cases i [ ... ]
There is a widespread demand among businesses for more convenient and reliable international payment products, and inevitably this has led to calls for more predictable and consistent regulation of these products, especially in the light of such innovations as online payments and ‘stored value’ cards. Recognizing that recurring risks tend to be dealt with in similar ways by most legal regimes, this study – the first of its kind – draws on a detailed analysis of the streng [ ... ]