AYN 426 Sem 2 2014 – INTERNATIONAL CAPITAL MARKET LAW AND REGULATION

| August 14, 2017

QUESTION ONE: International Market Regulation–1,000 words for 50 marks
The international financial
regulatory community has negotiated three BASEL Accords through the Basel
Committee on Banking Supervision within the Bank for International Settlements.
The third of these is still being implemented, with some aspects still under
consideration and development.
EXAMINE BRIEFLY the history
of, and purposes for, the three BASEL Accords. In particular, NOTE the purposes
for the most recent BASEL Accord.
SUMMARISE BRIEFLY the outcomes
from the first two BASEL Accords.
FOCUS ON the difficulties and
successes with implementation of the Accords and any unintended consequences
that may have arisen as a result of their implementation. Accordingly, also
NOTE any criticisms or doubts about the effectiveness or otherwise of the BASEL
III Accord.
COMMENT ON any role the
Accords may have had in contributing to the Global Financial Crisis that
commenced in 2007 and note any commentary on the success or otherwise of the
BASEL regime.
Students might refer to:
Related Articles:

King,
P. & Tarbert, H., 2011,.proquest.com.ezp01.library.qut.edu.au/docview/867434891?pq-origsite=summon”>BASEL III, An
Overview,
30(5) Banking and Financial Services Policy Report 1.

Alexander,
G., Baptista, A., and Yan, S., (2013)“A Comparison of the Original and Revised BASEL Market
Risk Frameworks for Regulating Bank Capital”85 Journal of Economic Behaviour &
Organisation 249
Related Websites and e-Articles:

.bis.org/publ/bcbsca.htm”>http://www.bis.org/publ/bcbsca.htm

.financialstabilityboard.org/”>http://www.financialstabilityboard.org/

“.investopedia.com/articles/economics/10/understanding-basel-3-regulations.asp#ixzz25isUXmaa”>BASEL III
Basics”

“.bis.org/speeches/sp101125a.pdf”>The Basel III Capital Framework: A Decisive Breakthrough”
(Save file to hard drive)

“.financialstabilityboard.org/publications/r_120619e.pdf”>Identifying the Effects of Regulatory
Reforms on Emerging Market and Developing Economies: A Review of Potential
Unintended Consequences Report to the G20 Finance Ministers and Central Bank
Governors”

“.bis.org/publ/bcbs220.pdf”>Report to G20 Leaders on BASEL III
Implementation”
(Save file to hard drive)

Students must ensure that ALL work is properly referenced.
END QUESTION ONE
cont/…

QUESTION TWO:–500 words for 25 marks
DISCUSS BRIEFLY the key
components of Australia’s
prudential regulatory system and MENTION the major historical events that have
influenced its development.
EXAMINE the belief that the
prudential regulatory system helped to shield the Australian economy over time
from international financial shocks such as the Asian Financial Crisis and the
Global Financial Crisis and ARGUE whether this view may be valid.

Students might refer to:
Inquiry Reports:

Royal
Commission on Banking–Napier Report 1935

Campbell
Committee Report 1981

Martin
Inquiry 1984 and 1991

Wallis
Inquiry 1997
Related Articles:

Black,
J., 2006, Managing regulator risks and defining the parameters of blame: a
focus on the Australian Prudential Regulation Authority, 28(1) Law &
Policy 1

Bird,
J., 2011, Regulating the Regulators: Accountability of Australian Regulators,
35(3) Melbourne University Law Review 739
Related Websites and e-Articles and e-Books:

.apra.gov.au/Pages/default.aspx”>http://www.apra.gov.au/Pages/default.aspx

.cfr.gov.au/about-cfr”>http://www.cfr.gov.au/about-cfr

.rba.gov.au/speeches/2007/sp-dg-160707.html”>http://www.rba.gov.au/speeches/2007/sp-dg-160707.html

.org.au/news/1911/four-pillars-fickleness”>http://ipa.org.au/news/1911/four-pillars-fickleness

.theaustralian.com.au/business/breaking-news/four-pillars-our-shield/story-e6frg90f-1111119012308″>http://www.theaustralian.com.au/business/breaking-news/four-pillars-our-shield/story-e6frg90f-1111119012308

.asic.gov.au/asic/pdflib.nsf/LookupByFileName/integration-financial-regulatory-authorities.pdf”>http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/integration-financial-regulatory-authorities.pdf

.insurancenews.com.au/regulatory-government/apra-needs-more-independence-imf”>http://www.insurancenews.com.au/regulatory-government/apra-needs-more-independence-imf

Students must
ensure that ALL work is properly referenced.
END QUESTION TWO
cont/…

QUESTION THREE:–500 words for 25 marks
The ‘Doctrine of Strict
Compliance’ in documentary credit law provides that document portfolios presented by
the Beneficiary must be consistent with the defined notion of a“complying presentation”which is defined in Article 2 of the UCP600.
EXPLAIN the‘Doctrine of Strict Compliance’, how it operates, and why
documentary compliance is essential to the integrity of the documentary credit
system.
REFER TO the relevant Articles
of the UCP600AND any case law that
deals with the effect of contractual disputes between trading parties on the
documentary credit underpinning the transaction.

Students might refer to:
Related Books and Articles:

Kozolchyk,
B., 1990, Strict Compliance and the Reasonable Document Checker, 56 Book
Law Review, 45

Lee,
R., 2008, Strict Compliance and The Fraud Exception: Balancing the Interests
of Mercantile Traders in the Modern Law of Documentary Credits 5 MqJBL 137

Carr, Indira, International Trade Law
(Routl

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