*Please note that the links to the content in this Part will direct you to Westlaw AU.<\/p>\n
To purchase an article, please email: LTA.Service@thomsonreuters.com<\/a> or contact us on 1300 304 195 (Australian customers) or +61 2 8587 7980 (international customers) during business hours (Mon-Fri, 8am-6pm AST).<\/p>\n The latest issue of the\u00c2\u00a0Journal of Banking and Finance Law and Practice<\/em> (Volume 32 Part 2) contains the following material:<\/p>\n Open Banking in Australia: Competition and Money Laundering, Risks and Benefits<\/strong><\/em><\/a> \u00e2\u20ac\u201c Doron Goldbarsht, Baskaran Balasingham and Jeremy Moller<\/p>\n Open banking \u00e2\u20ac\u201c as pioneered in Europe with the European Union\u00e2\u20ac\u2122s revised Payment Services Directive and the United Kingdom\u00e2\u20ac\u2122s Open Banking Standard \u00e2\u20ac\u201c is emerging around the world due to technological advancements and the increasing value of data. In Australia, open banking represents the culmination of previous government inquiries that highlighted the low levels of competition and innovation within the banking sector. This article sheds light on the implications of open banking regimes for competition and money laundering risks, and provides recommendations for enhancing financial integrity in the Australian financial sector.<\/p>\n Click here to access article on New Westlaw<\/a><\/p>\n The Actionability of Codes of Conduct in English and Irish Law<\/strong><\/em><\/a> \u00e2\u20ac\u201c David McIlroy and John Freeman<\/p>\n The question of whether, and if so how, codes of conduct in the financial services industry, should be actionable is one which has elicited different responses in England and in Ireland. In both England and Ireland, codes of conduct are relied on by ombudsmen schemes in their decisions. In England, although voluntary codes of conduct have been replaced by mandatory codes of conduct in some cases, only individuals and not companies are able to sue for breaches of the codes. In England and Ireland, codes of conduct do not amount to implied terms of a contract between a firm and its customer. However, in Ireland, the moratorium provision in the Code of Conduct on Mortgage Arrears has been given effect by the courts. It is unclear whether codes of conduct are more broadly actionable under s 44 of the Central Bank (Supervision and Enforcement) Act 2013<\/em>.<\/p>\n Click here to access article on New Westlaw<\/a><\/p>\n The Legal Structure of Quantitative Easing<\/strong><\/em><\/a> \u00e2\u20ac\u201c Will Bateman<\/p>\n Since their inception during the financial crisis, quantitative easing (QE) programs have spread throughout the world and grown enormously in size. QE is now the preferred mechanism for implementing monetary policy in the Organisation for Economic Co-operation and Development and has been a critical emergency measure adopted in response to COVID-19. Despite that prominence, the legal frameworks underpinning QE have not received close analysis. This article fills that gap via a detailed analysis of the legal structure of QE in the United States (US), United Kingdom and Australia. By reference to the law governing the US Federal Reserve System, the Bank of England and the Reserve Bank of Australia, the central legal aspects of QE are systemically explained: the legal foundation of \u00e2\u20ac\u0153reserve\u00e2\u20ac\u009d accounts linking central banks to the private financial sector; the legal authorities supporting central bank asset purchases and money creation; the absence of a legal limit on the volume of money which can be created through QE (by comparison with legal limits on money creation under Gold Standards and the Bretton Woods system); and the legislative and contractual rules supporting the finality of payment in central bank payment systems.<\/p>\n Click here to access on New Westlaw<\/a><\/p>\n BANKING LAW AND BANKING PRACTICE<\/a> \u00e2\u20ac\u201c Editors: Alan L Tyree and John Sheahan QC<\/em><\/p>\n Click here to access on New Westlaw<\/a><\/p>\n INSOLVENCY LAW AND MANAGEMENT<\/a> \u00e2\u20ac\u201c Editors: Lindsay Powers and Gerard Breen<\/em><\/p>\n Click here to access on New Westlaw<\/a><\/p>\n TOKYO<\/a> \u00e2\u20ac\u201c Editor: Masahiro Ueno<\/em><\/p>\n Click here to access on New Westlaw<\/a><\/p>\n For the PDF\u00c2\u00a0version of the table of contents, click here: Westlaw AU\u00c2\u00a0\u00e2\u20ac\u201c JBFLP Vol 32 No 2 Contents<\/a> or here: New Westlaw AU\u00c2\u00a0\u00e2\u20ac\u201c JBFLP Vol 32 No 2 Contents<\/a>.<\/p>\n Click here to access this Part on Westlaw AU<\/a><\/p>\n Click here to access this Part on New Westlaw AU<\/a><\/p>\nArticles<\/h3>\n
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