Legal and Conduct Risk in the Financial Markets

This financial crisis highlights the importance of the work by McCormick, daring because not even the financial markets understand the legal risks involved, and few lawyers, if any, would really understand the complexity of all the financial products. The book is therefore useful to policymakers, lawyers, and finanacial actors, besides academics. * Journal of Risk and Insurance * An excellent and insightful examination of legal risk in financial markets written by an experienced senior practitioner in the field. This work is a major contribution to legal risk management, and full of sound and sensible advice. A pioneering and perceptive work. The second edition has illuminating chapters on the recent financial crisis and its implications for legal risks * Philip Wood, Head, Allen & Overy Global Law Intelligence Unit * It is.... a book that every finance lawyer should read before starting his or her career. This is an essential read for every banking and corporate lawyer and it is an absolute must for anyone involved in setting out rules or guidelines in the management of legal risk. * William Johnston, IBA Legal Practice Division Newletter, Dec 2006 * This is essential reading for every banking and corporate lawyer and it is an absolute must for anyone involved in setting out rules or guidelines in the management of legal risk...Overall this book represents a significant contribution in this complex area of law. * Gabriel Gomez Giglio, Journal of International Banking Law and Regulation. * The book is stimulating and informative. There is reference to almost every conceivable aspect of the recent financial crisis, from its origins to the legal and regulatory responses in the UK and elsewhere. * Matteo Solinas, Edinburgh Law Review * Of the many admirable qualities of the book, perhaps the most admirable is its approach. [...] What it does do is provide a toolkit using which (sic) both lawyers and non-lawyers can begin to approach each other and to develop a mutual understanding. * Simon Gleeson, JIBLR, 2006, issue 8 * The book enters a number of familiar doctrinal debates, including charge-backs, property interests in indirectly held securities, changes on book debts. The technical difficulty of these is so great, and the controversy surrounding them so intractable that, generally speaking, the more one reads, the more lost one becomes. McCormick's gift is...to see doctrine as a resource and not as a burden. He is able to pick out the few essential propositions, and suggest a sensible way forward (saving all of us a lot of time). * Joanna Benjamin, JIBLR, 2007, issue 2 * Review from previous edition Review from previous edition The first to wrestle legal risk to the floor, McCormick speaks in an eminently reassuring voice. Solicitors are problem solvers, and McCormick has engaged a (considerable) problem, observed its characteristics, mapped its watering holes, and made very sensible suggestions for keeping the beast at bay. * Joanna Benjamin, Journal of International Banking Law and Regulation (JIBLR), 2007, issue 2 *