e Finance Law and Regulation

Description:

BOOK REVIEW

 

E-FINANCE: LAW AND REGULATION

General Editors:

Paul Anning, Emily Reid and Heather Rowe

LOVELLS

ISBN: 0-406-94792-9



LEXISNEXIS BUTTERWORTHS

www.lexisnexis.com.uk

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NEW GENERATION E-FINANCE

An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers



This is one of the most important books on finance law and regulation for 21st century and will be welcomed by all in the industry. So much has changed so quickly with the arrival of easy and cheap access to the internet, and the authors explain what has happened so far.

Our new technologies have created new products like e-money which require legislation of sorts such as the E-Money Directive and the E-Commerce Directive.

Lovells law firm have masterminded this work under the editorial expertise of Paul Anning, Emily Reid and Heather Rowe. The team, with their excellent specialist contributors, have set out the fast pace of technological change in a fast changing environment creating legal challenges for all involved with financial services businesses and all the advisory support which goes with it.

The book has five parts covering:

Part I – an introduction to e-commerce and the key European and UK legislation;

Part II – the legal and regulatory considerations relevant to particular kinds of activity particularly working online and based around the lifecycle of a customer relationship like creating a website, advertising and marketing financial products, online contracts and the management of online customer relationships;

Part III – specific areas of law which apply to e-finance providers, such as the protection of data, money laundering and issues of jurisdiction;

Part IV – explaining what e-money is and the regulatory regime with which e-money issues must comply; and

Part V – the IP and IT aspects of e-finance.

There is a chapter summary at the beginning of each of the 14 chapters plus a glossary at appendix 1 and an excellent website checklist at appendix 2 (which will need to be kept up to date) with a comprehensive index at the back. Lovells might think of establishing an online updating service for updates.

Every chapter holds great importance for lawyers but the ones which stand out are chapter 6 concerning contracting on-line, chapter 13 on electronic signatures and chapter 3 on what is confusingly called “co-ordinated field” but is what we know as the legal and regulatory frameworks.

We were very impressed with this publication which links the traditional law book with the feeling of a computer manual, although don’t take that the wrong way! The layout was very helpful with the short summary at the beginning and then a trenchant conclusion at the end of each chapter to reinforce points.

We came away knowing a great deal more, but always having the feeling that my overall knowledge had been consolidated with each of the different strands of the new legislative agenda we have been given with IT.

This is a book for the future, it’s about the future and it’s given a very fair statement of where the law and the regulation of e-finance stood 4 years ago when it was written: the trouble is all our moving financial goalposts. We would think a new edition inevitable as the 2008 credit crunch and the massive shifts in global finance change the way we think about e-finance, the internet, and how much regulation we will need for that future.

ISB