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Mwenda, Kenneth Kaoma

an international and comparative legal perspective

Kenneth Kaoma Mwenda

Cavendish Pub.

2000

xxiv, 142 p. 24 cm

Includes bibliographical references (p. 127-135) and index. , Machine generated contents note: Acknowledgments vii -- Preface xi -- Table of Cases xix -- Table of Legislation xxiii -- 1 INTRODUCTION 1 -- CONTEXT OF THE STUDY 1 -- Defining ʹbankʹ and ʹbanking businessʹ 2 -- Deposit-taking 7 -- Conclusion 9 -- 2 CORE PRINCIPLES FOR EFFECTIVE BANKING -- SUPERVISION AND SYSTEMIC BANK RESTRUCTURING 11 -- INTRODUCTION 11 -- The Basle Core Principles for Effective Banking Supervision 12 -- IMF STANDARDS FOR SOUND BANKING 18 -- What the IMF can do 20 -- IMFʹS IDENTIFICATION OF SOME SOURCES OF BANKING -- SYSTEM PROBLEMS 21 -- Sources of banking system problems 21 -- Legal aspects of systemic bank restructuring 23 -- Some lessons of experience in systemic bank restructuring 26 -- Beyond banking supervision and systemic restructuring 29 -- Conclusion 32 -- 3 CONTEMPORARY ISSUES FACING A MODERN LEGAL -- FRAMEWORK 33 -- INTRODUCTION 33 -- The legal framework for banking supervision in Zambia 34 -- The Banking and Financial Services Act 1994 38 -- Chapter 6 of the Banking and Financial Services Act 1994 48 -- Conclusion 57 -- 4 BANK SHAREHOLDERS AND THEIR OBLIGATION TO -- PAY UP FOR SHARES 59 -- INTRODUCTION 59 -- Obligations of bank shareholders to pay up the called-up -- share capital 61 -- Conclusion 65 -- 5 REGULATING NON-TRADITIONAL BANKING -- INSTITUTIONS SUCH AS COLLECTIVE -- INVESTMENT SCHEMES 67 -- INTRODUCTION 67 -- Collective investment schemes as a mechanism through which -- banks engage in non-traditional banking activities 69 -- Authorisation of collective investment schemes 70 -- Further distinctions between unit trusts and other types of -- collective investment schemes 72 -- Restrictive regulations on banking systems in emerging markets -- as a constraint 73 -- Drawing distinctions between investment companies and open- -- ended investment companies in Zambia 74 -- Constraints relating to protection of investorsʹ assets under a -- collective investment scheme 75 -- Concusion 76 -- 6 BANKS AND THE USE OF CHINESE WALLS IN -- MANAGING CONFLICT OF DUTIES 79 -- Salient features of a Chinese wall 82 -- Management of fiduciary duties relating to non-public and -- material information as the raison dʹtre behind Chinese walls 84 -- Some fiduciary duties which Chinese walls attempt to manage 86 -- Concusion 91 -- 7 BANKING SUPERVISION AND INSIDER DEALING 93 -- INTRODUCTION 93 -- Insider dealing 94 -- Theoretical arguments against insider dealing 97 -- Concusion 100 -- 8 LESSONS OF EXPERIENCE: INTERNATIONAL AND -- COMPARATIVE PERSPECTIVES 101 -- A model for integrated financial supervision 103 -- Central bank independence in the UK: the salient features of -- the financial economics underpinning the legal framework 104 -- The UK Financial Services Authority as a model of central -- bank independence 107 -- Regulatory constraints and related developments 116 -- The limitations to heavy reliance on ʹcapital adequacy -- requirementsʹ 119 -- The limitations to heavy reliance on ʹdeposit insuranceʹ 123 -- Lack of transparency as a regulatory constraint 125 -- Condusion 125 -- BIBLIOGRAPHY 127 -- BOOKS 127 -- ARTICLES 130 -- SOURCES EXTRACTED FROM INTERNET WEBSITES 132 -- OTHER SOURCES, INCLUDING UNPUBLISHED -- SEMINAR PAPERS 133 -- Index 137

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