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This well established guide to the law as it relates to the core of the legal (and non-legal) rules for besides covering legislation it also details the latest versions of the statutory Codes in full with a commentary on each one.
The public perception of financial services law is at present dominated by the ramifications of the credit crisis, and the current focus is on the content of new regulations that will inevitably emerge as we attempt to prevent a repeat of this financial maelstrom.
We already have the Banking Act 2009 and a plethora of new rules are likely to follow. This text has always been concerned primarily with the private law relationship between banks and their customers, although this in itself has become increasingly subject to regulation, and it also covers all the regulations that impact on contractual relationships in banking.
There has been plenty to review in the private law field - the new Banking Code, the new Business Banking Code and the new Statement of Principles. Then there are the upgraded deposit protection levels. In case law, there is the long awaited test case on the legality of charges imposed by banks on their customers, Office of Fair Trading v Abbey National, cases such as K Ltd v National vvestminster Bank on bank duties when accounts are frozen following suspicion of money laundering and the House of Lords decision on the applicability of connected lender liability when credit cards are used abroad.
The law will inevitably continue to change so the reader is referred to the website www.banking-law.co.uk where regular updates to this book will appear.