Definition of Financial law 10061602 Ki-hwa Jung

Table of Contents Definition of financial law Comparison with other Concepts References

Laws in the market economy Definition of Financial law Definition of finance Financial Systems Laws in the market economy Financial law

Definition of Financial law I. Definition of finance (a) Management of money or ‘funds’ management. (b) Family of business activity. II. Financial system Public and Private interests and the markets that serve them. III. Laws in the market economy 54 Laws including statues (Banks, Insurances, Securities, Assets) and rules(Related their Supervision) in Korea.

Definition of Financial law Financial system I. Definition (a) The system allows the transfer of money between savers and borrowers. (b) A set of complex and closely interconnect financial institutions, markets, instruments, services, practices and transactions. II. Financial Institutions (a) An institution that provides financial services for its clients or members. (b) Financial service provided by financial institutions is acting as financial intermediaries. (C) Most financial institutions are regulated by the government.

Definition of Financial law Financial system III. Major types of institutions (a) (b) (C) (a) Deposit-taking Institutions (b) Insurance companies and pension funds (C) Brokers, underwriters and investment funds.

Definition of Financial law (a) Deposit-taking Institutions Bank Trust company Credit union Mortgage loan company

Definition of Financial law (b) Insurance companies and pension funds Insurance company Pension fund (C) Brokers, underwriters and investment funds Underwriter Investment fund

Definition of Financial law IV. International financial Institutions IMF World Bank BIS IOSCO IAIS

Comparison of Other concepts Financial law and Commercial law I. Definition of Commercial Law (a) Formal Commercial Law : “Commercial Code” (b) Practical Commercial Law (Academic Concept): “The Company defined by Law” II. Common (a) They are laws about the economic.(households, firms and government) (b) They reflect historical back ground, legislative policies and economy So, they contain varied contents in each country’s characteristic. (C) They contain Insurance Law.

Comparison of Other concepts Financial law and Commercial law Remarks Standard Financial law Commercial law Differences Objective Financing Corollary System Statutes and Rules - Bank - Insurance - Security - Asset, Usury - Supervisory Statutes - Corporate - Marketable Securities - Maritime - Air Transport

Comparison of Other concepts Financial law in the Socialist countries I. Definition (a) The branch of law that regulates social relationships arising from the state’s financial activities. (b) Financial activity is a particular type of activity in the exercise of state power and state administration and is regulated as a whole by the norms of administrative and state law. (C) The principal institutions of financial law are budget law.

Comparison of Other concepts II. China financial institutions CBRC CSRC CIRC PBC

Invest trust companies Comparison of Other concepts U.S financial institutions and China Work United State China Supervision General Department of Treasury CBRC Savings banks OCC PBC Invest trust companies State of New York Banking non-bank companies Monetary policy FRB(FRBNY) Securities SEC CSRC Futures Markets SEC, CFTC Insurance NAIC CIRC

Comparison of Other concepts Islamic finance I. Definition of Islamic finance (a) Islamic finance operates by Islamic Law (Shariah) → Profitability < Morality or Social(Quran and Hadith) (b) Committee of Shariah determines legality of financial products (C) Islamic finance prohibits payment of interest and charges(Riba). (d) The Main products of the Islamic bond is Sukuk. → Sukuk is consists of Murabaha, Mudaraba, Ijara, Mushakah, Istithna, Muqarada, Salam, and Mujara.

Comparison of Other concepts Murabaha When Financial Institution provides funds to buy, Such funds and fees are recovered in installments. Real estate contract (1) Financial Institution Building Real estate contract (2) Financial Institution A person Premium and Commission

Comparison of Other concepts Mudaraba First, Financial Institution provides a money type of investment to the corporates. And when the corporates make a profit, the financial institution takes the principal and some of earnings. A money type of investment (1) Financial Institution Corporate The principal and earinings.

Comparison of Other concepts Legal Search(West Law)

Comparison of Other concepts Legal Search(West Law)

Comparison of Other concepts Legal Search(West Law)

Comparison of Other concepts Legal Search(West Law)

Comparison of Other concepts Legal Search(West Law)

Comparison of Other concepts Legal Search(West Law)

Comparison of Other concepts Legal Search(West Law)

Comparison of Other concepts Legal Search(West Law)

Definition of Financial law References 1) Financial law by Kim 2) Lecture on Commercial Law by Dr. Chung 3) Wikipedia - financial law, international financial institutions - U.S financial institutions, financial industry. 4) Islamic banking and finance legal systems around the maintenance status by Su-Hyun An 5) Islamic finance by http://blacphil.tistory.com/79 6) West law Fordham of corporate & finance law by Susan Lorde Martin

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