The spate of mis-selling episodes that have plagued the financial services industries in recent years has caused widespread detriment to investors. Notwithstanding numerous regulatory interventions, curtailing the incidence of poor investment advice remains a challenge for regulators, particularly because these measures are taken in a 'fire-fighting' fashion without adequate consideration being given to the root causes of mis-selling. Against this backdrop, this book focuses on the sale of complex investment products to corporate retail investors by drawing upon the widespread mis-selling of interest rate hedging products (IRHP) in the UK and beyond. It brings to the fore the relatively understudied field concerning the different degrees of investor protection mechanisms applicable to individual retail investors – as opposed to corporate retail investors – by taking stock of past regulatory reforms and forthcoming regulatory initiatives as well as, more importantly, the conclusions reached by the judiciary in IRHP mis-selling claims. The conclusions are particularly interesting: corporate retail investors are in a vulnerable position when compared to individual retail investors. The former are exposed to a heightened risk of mis-selling, meaning that regulatory intervention should be targeted accordingly. The recommendations made as a result of these findings are further supported by insights emerging from behavioural law and economic theories. This book is aimed at researchers, lawyers and students with an interest in the financial regulation field who are keen to explore potential regulatory reforms to the investment services regime that address the root causes of mis-selling, and restore a level playing field amongst all retail investors.
The spate of mis-selling episodes that have plagued the financial services industries in recent years has caused widespread detriment to investors. Notwithstanding numerous regulatory interventions, curtailing the incidence of poor investment advice remains a challenge for regulators, particularly because these measures are taken in a 'fire-fighting' fashion without adequate consideration being given to the root causes of mis-selling. Against this backdrop, this book focuses on the sale of complex investment products to corporate retail investors by drawing upon the widespread mis-selling of interest rate hedging products (IRHP) in the UK and beyond. It brings to the fore the relatively understudied field concerning the different degrees of investor protection mechanisms applicable to individual retail investors – as opposed to corporate retail investors – by taking stock of past regulatory reforms and forthcoming regulatory initiatives as well as, more importantly, the conclusions reached by the judiciary in IRHP mis-selling claims. The conclusions are particularly interesting: corporate retail investors are in a vulnerable position when compared to individual retail investors. The former are exposed to a heightened risk of mis-selling, meaning that regulatory intervention should be targeted accordingly. The recommendations made as a result of these findings are further supported by insights emerging from behavioural law and economic theories. This book is aimed at researchers, lawyers and students with an interest in the financial regulation field who are keen to explore potential regulatory reforms to the investment services regime that address the root causes of mis-selling, and restore a level playing field amongst all retail investors.
This is the story of the historic air defense of Malta by the WRAF against the combined attacking forces of the Italian and German air forces. The island was poorly equipped when Italy declared war on Britain in June 1940 and its only defense against air attack at the outset of war were 34 heavy and 8 light antiaircraft guns, one radar set and four Gladiator biplane fighters. The first air raids came on 11 July and from then on were an almost daily feature of life for the Maltese occupants and the island was in a state of siege. The loss of this strategic point in the central Mediterranean would threaten the major supply routes to the British Army in North Africa and deprive the Royal Navy of a vital base. Although hard-pressed at home and standing alone against Hitlers Europe, every effort was made by Britains government to get supplies, munitions and replacement aircraft to enable the island to withstand the naval and airborne onslaught. Convoy after convoy attempted to get through, Hurricane and Spitfire fighters were launched from aircraft carriers with only sufficient fuel for a one-way trip to the island. Many did not survive these heroic flights. Many famous British ships were lost due to torpedo and air attack, including the carriers Ark Royal and Eagle and the battleship Barham. The siege was finally raised on 20 November 1942.This book follows the islands wartime history, describing the heavily outnumbered WRAF defense against the many air-raids and how the small bomber force took the battle to Italian shores. It is a tale of outstanding bravery by the British forces and the Maltese people.
This document pays tribute to the Hispanic American (HA) men and women who have served and continue to serve with courage and distinction in America's defense. Contents: overview (1492-1989); a salute to Hispanic fighter aces; (HA) recipients of the Medal of Honor; HA hostages during the takeover of the U.S. Embassy in Iran; HA officer killed in action in Libya; Navy ships christened in honor of Hispanics; HA generals and flag officers by military service; a selection of HA officer personnel; highest ranking HA enlisted personnel; the military academies and HA; HA civilians in DoD; HA within DoD. Over 100 photos.
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