Home >
Law >
Banking / Finance >
The Law of Institutional Investment Management

The Law of Institutional Investment Management

Author: Lodewijk van Setten
Publisher: Oxford University Press
ISBN: 9780199285013
Published In: September 2009
Format: Hardback , 336 pages
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

Out of stock

Description
Contents
Author
Reviews

Details

Insightful description from an industry insider of the institutional investment process, including the on-exchange and OTC trading and settlement structures of the financial markets

Explanation of the various investment strategies employed by institutional investment managers and their responsibility for delivering investment returns

Fills a much needed gap in the market for a book on the law of investment management with a UK/European perspective

Detailed analysis of the various legal concepts that operate in the relationships between the institutional investor, the investment manager as the appointed agent, and the market counterparties

Description of the MiFID framework as it applies to institutional investment managers

The Law of Institutional Investment Management fills a gap for a work that describes the custom and practice of the institutional investment management industry with reference to both English law and to the European regulatory framework.

The governing theme of the work is the structure of the institutional investement process. The work seeks to define the legal risks that an institutional investor who invests in the financial markets through a professional investment manager must be aware of, both in relation to the investment manager and in relation to the financial markets.

The analysis addresses the key investment strategies and management styles, the investment manager's responsibility for delivering investment returns through asset allocation and asset selection decisions, the execution of those decisions, and the management of conflicts. The discussion includes an in-depth analysis of the modi operandi of various trading venues, the structure and legal aspects of key financial market transactions (including on-exchange and OTC traded derivatives, and securities lending and repo transactions), and the legal aspects of cash and securities movements in connection with settlement and collateralisation of those financial market transactions.

Readership: This work will be of interest to private practice lawyers and in-house practitioners, as well as scholars. Additionally, investment managers and broker-dealers who want to gain easy access to analysis of the most common and pressing legal problems facing the institutional investment management industry will find this work most helpful.

1. The characteristic features of an institutional investment mandate
2. The regulatory framework
3. The legal duties of an institutional investment manager
4. Exercise of investment discretion
5. Cash accounts and cash transfers
6. Securities accounts and securities transfers
7. Exercise of investment authority

Lodewijk van Setten, Visiting Professor of Law, King's College London and Managing Director & International Counsel, Morgan Stanley Investment Management

"Lodewijk van Setten has written an erudite and valuable contribution to the English law literature addressing this aspect of the financial services industry. Lawyers who encounter investment management every day or only rarely should have this work to hand" - Tim Plews, Partner, Co-Head, Financial Services Practice, Clifford Chance,London

"If you are a lawyer interested in investment, whether for yourself or your clients (and what lawyer isn't?)...Van Stetten's work of legal reference will certainly capture your attention from the outset" - Phillip Taylor MBE and Elizabeth Taylor, Richmond Green Chambers

"An absolutely fabulous book. This is, without a doubt, the best work in th this important area that I have ever read. Every practitioner faces on a daily basis in a concise, complete and referenced form with a thoughtful analysis of the issues in the two most important jurisdictions. It imparts wisdom and pragmatic assistance. I will keep it as my favourite, handy, reference." - Philip Harris, Skadden, Arps, Slate, Meagher & Flom LLP