TITLE

In Europe, Custodians May Be Forced To Repay Investors For Madoff-Style Losses

AUTHOR(S)
Kentouris, Chris
PUB. DATE
August 2009
SOURCE
Securities Industry News;8/17/2009, Vol. 21 Issue 18, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the plan of the European Commission (EC) to hold European depositary banks to a higher standard of investor protection by making custodian banks liable for the total value losses suffered by investors through the wrongdoing of processing agents from removed from its oversight. Under a proposed legislation, the EC would have European depositaries responsible for making investors whole for the wrongdoing or bankruptcy of subcustodian banks and prime brokerages. The impetus for the plan of the EC is noted.
ACCESSION #
43917937

 

Related Articles

  • Depositor protection: An EC law perspective. Misita, Nevenko // Journal of International Banking Regulation;Mar2003, Vol. 4 Issue 3, p254 

    Financial institutions, particularly banks, are exposed to 'runs'--a mass withdrawal of money-deposits by depositors faced by a (perceived) threat of a bank insolvency. However, due to the interdependence of credit institutions, the collapse of one bank may represent a real threat to the...

  • 13th Annual Custody Buyer's Guide.  // Global Finance;Apr2003, Vol. 17 Issue 4, p41 

    Presents a guide for custody investors. Banco Intesa; Banco Itau; Bank of New York.

  • ESMA Backtracks on UCITS V Separation Rule. Parsons, Joe // Global Custodian News;2014, p1 

    The article informs the submission of technical advice by the European Securities and Markets Authority (EMSA) to the European Commission on the Undertakings for Collective Investment in Transferable Securities (UCITS) V. It mentions that EMSA proposed full legal separation between the UCITS...

  • Consolidation by Any Other Name. Field, Graham // Global Finance;Jan2003, Vol. 17 Issue 1, p52 

    Focuses on developments related to the custodian sector of the global banking industry as of January 2003. Banks that have terminated their custody businesses; Consolidation in the market; Factors affecting the market.

  • EU regulatory developments.  // Law & Financial Markets Review;Sep2010, Vol. 4 Issue 5, p537 

    The article offers updates on the financial institution regulations initiated by the European Union (EU). The European Commission (EC) has proposed to revise the Directive 94/19/EC on Deposit Guarantee Schemes (DGSs) to enhance protection for bank account holders as well as retail investors. The...

  • COMPANY LAW AND FREE MOVEMENT OF CAPITAL. RINGE, WOLF-GEORG // Cambridge Law Journal;Jul2010, Vol. 69 Issue 2, p378 

    The article looks at the relationship between company law and free movement capital as well as the latest developments in both case-law and legislation in Great Britain as of 2010. An analysis of the doctrinal concepts informing the case-law of the European Court is presented. It mentions the...

  • WRAPPING UP A SUCCESS STORY - MANAGING THE EXIT. Spitz, Gábor // Budapest Business Journal;12/11/2015, Vol. 23 Issue 23, p9 

    The author reflects on preparation for successful exit by founders and investors citing reference to end of the investment periods of European Commission's Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative-backed funds.

  • Custodians Make the Case to Be Full-Service Providers Under AIFMD. Safane, Jake // Global Custodian News;2014, p152 

    Aside from increasing the responsibilities for fund managers and their providers, the Alternative Investment Fund Managers Directive (AIFMD) could also cause a consolidation of service providers, as custodians look to take on a full-service role.

  • A review of 2011: part 2. McKnight, Andrew // Law & Financial Markets Review;Mar2012, Vol. 6 Issue 2, p93 

    The article discusses aspects of the developments in the field of insolvency in the context of banking and finance law in Europe. It explains the special administration regime for investment banks and the anti-deprivation rule as it applies to insolvency law as well as the rule against double...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics