BUTTERWORTHS SECURITIES AND FINANCIAL SERVICES LAW HANDBOOK
Edited by Deborah Sabalot
ISBN: 978 1 4057 7626 4
A BRAND NEW EDITION OF THIS INDISPENSABLE HANDBOOK, INCLUDING ALL AMENDMENTS MADE BY THE FINANCIAL SERVICES ACT 2012
An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers
Financial services comprise the core of the UK economy. Awareness of, and compliance with, the body of law governing, or pertaining to, this dynamic industry is an imperative for those involved in it. This is why legal practitioners, compliance officers and indeed anyone concerned with regulatory issues pertaining to the financial services sector should acquire this latest edition of ‘Butterworths Securities and Financial Services Law Handbook’, published recently by LexisNexis.
The work is a truly extensive yet amazingly compact volume. Within its almost 4,000 or so pages, it brings together all key and significant primary, secondary and European legislation pertaining to financial services.
As indicated in the Preface, the 14th edition contains a fully amended version of the Financial Services and Markets Act 2000, including all of the amendments and repeals made by the Financial Services Act 2012. Bearing in mind the turbulence and the pace of change within the financial services industry of late, specialist financial service practitioners will find the new 14th edition indispensable.
The main objective of the new legislation, in the hopeful words of the Chancellor of the Exchequer, (which we quote partially from in the preface) is to create ‘a structure of financial oversight that supports successful, competitive financial services while protecting the British taxpayer from the risk that those services run’. This is not a complete answer, the Chancellor has added in part… and ‘not by itself a sufficient response to the mistakes of the past, but … it is absolutely necessary.’
Similar to previous editions, the Handbook comprises four main parts, the first being of course, the Financial Services and Markets Act 2000 and Financial Services Act 2012. The next three parts include: “Other Acts”… “Statutory Instruments”… and “EU Materials” respectively. Part 3 – “Statutory Instruments”-- is further divided into sections by function.
Part 2 – “Other Acts” is particularly interesting in that it contains legislation dating from the Limited Partnerships Act 1907 through to the Police and Criminal Evidence Act 1984, the Counter-Terrorism Act 2008… Banking Act 2009… and of course the Financial Services Act 2010. Also of prime topical interest in Part 4 are the materials on the Third Money Laundering Directive, the Payment Services Directive and the E-Money Directive – and much more besides.
Note, however, that the remit of the Handbook does not include the rules, regulations and guidance made by the Financial Services Authority FSA or its recent successors including the Financial Conduct Authority.
The scope and the impressively authoritative extent of the Handbook are enormous enough.
In all, the Handbook is a remarkable work of reference containing over 200 pieces of UK legislation and over 70 of the most important European regulations and directives. Certainly no practitioner involved in financial services, whether specialist or generalist, can afford to be without it.
And to keep hardworking practitioners completely up to date with developments in this dizzyingly fast-moving area of law, the Handbook is also updated fortnightly by LexisNexis online. The Handbook itself is cited as up to date as of 20 March 2013.
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