Financial law

Financial law is a branch of law that governs the legal aspects of finance, including both public finance and private finance. It encompasses a broad range of legal topics, including banking, securities law, investment management, insurance law, and corporate finance.

Overview

Financial law forms a substantial part of commercial law, and notably, it provides the legal framework for financial institutions, financial markets, financial services and financial transactions. It is designed to ensure the stability and integrity of the financial system, protect consumers, and prevent financial crimes.

Public Finance Law

Public finance law deals with the legal aspects of raising and spending public funds. This includes the regulation of taxation, government spending, public borrowing, and monetary policy. Public finance law also covers the legal aspects of public-private partnerships, government procurement, and public sector unions.

Private Finance Law

Private finance law covers the legal aspects of financial activities conducted by private individuals, businesses, and non-governmental organizations. This includes the regulation of banking, investment, insurance, securities, and corporate finance. Private finance law also covers the legal aspects of financial planning, estate planning, and retirement planning.

Financial Regulation

Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions, and guidelines. It aims to maintain the integrity of the financial system. This may be handled by either a government or non-government organization. Financial regulation has also influenced the structure of banking sectors by increasing the variety of financial products available.

Financial Crimes

Financial law also covers financial crimes, which are crimes against property, involving the unlawful conversion of the ownership of property (belonging to one person) to one's own personal use and benefit. Financial crimes may involve fraud (cheque fraud, credit card fraud, mortgage fraud, medical fraud, corporate fraud, securities fraud (including insider trading), bank fraud, insurance fraud, market manipulation, financial statement fraud, money laundering, identity theft, and theft), bribery, insider trading, embezzlement, computer crime, copyright infringement, money laundering, identity theft, and forgery and counterfeiting, including the production of Counterfeit money and consumer goods.

See Also

• Banking law
• Securities law
• Investment management
• Insurance law
• Corporate finance
• Financial regulation
• Financial crimes