1. Definition of Financial law
Ki-hwa Jung

2. Table of Contents Definition of financial law
Comparison with other Concepts
References

3. Laws in the market economy
Definition of
Financial law
Definition of finance
Financial Systems
Laws in the market economy
Financial law

4. Definition of Financial law
I. Definition of finance
(a) Management of money or ‘funds’ management.
(b) Family of business activity.
II. Financial system
Public and Private interests and the markets that serve them.
III. Laws in the market economy
54 Laws including statues (Banks, Insurances, Securities, Assets) and rules(Related their Supervision) in Korea.

5. Definition of Financial law
Financial system
I. Definition
(a) The system allows the transfer of money between savers and borrowers.
(b) A set of complex and closely interconnect financial institutions,
markets, instruments, services, practices and transactions.
II. Financial Institutions
(a) An institution that provides financial services for its clients or members.
(b) Financial service provided by financial institutions is acting as financial
intermediaries.
(C) Most financial institutions are regulated by the government.

6. Definition of Financial law
Financial system
III. Major types of institutions
(a)
(b)
(C)
(a) Deposit-taking Institutions
(b) Insurance companies and pension funds
(C) Brokers, underwriters and investment funds.

7. Definition of Financial law
(a) Deposit-taking Institutions
Bank
Trust company
Credit union
Mortgage loan company

8. Definition of Financial law
(b) Insurance companies and pension funds
Insurance company
Pension fund
(C) Brokers, underwriters and investment funds
Underwriter
Investment fund

9. Definition of Financial law
IV. International financial Institutions
IMF
World Bank
BIS
IOSCO
IAIS

10. Comparison of Other concepts
Financial law and Commercial law
I. Definition of Commercial Law
(a) Formal Commercial Law : “Commercial Code”
(b) Practical Commercial Law (Academic Concept):
“The Company defined by Law”
II. Common
(a) They are laws about the economic.(households, firms and government)
(b) They reflect historical back ground, legislative policies and economy
So, they contain varied contents in each country’s characteristic.
(C) They contain Insurance Law.

11. Comparison of Other concepts
Financial law and Commercial law
Remarks
Standard
Financial law
Commercial law
Differences
Objective
Financing
Corollary
System
Statutes and Rules
- Bank
- Insurance
- Security
- Asset, Usury
- Supervisory
Statutes
- Corporate
- Marketable Securities
- Maritime
- Air Transport

12. Comparison of Other concepts
Financial law in the Socialist countries
I. Definition
(a) The branch of law that regulates social relationships arising from
the state’s financial activities.
(b) Financial activity is a particular type of activity in the exercise of state
power and state administration and is regulated as a whole by the
norms of administrative and state law.
(C) The principal institutions of financial law are budget law.

13. Comparison of Other concepts
II. China financial institutions
CBRC
CSRC
CIRC
PBC

14. Invest trust companies
Comparison of
Other concepts
U.S financial institutions and China
Work
United State
China
Supervision
General
Department
of Treasury
CBRC
Savings banks
OCC
PBC
Invest trust companies
State of
New York
Banking
non-bank companies
Monetary policy
FRB(FRBNY)
Securities
SEC
CSRC
Futures Markets
SEC, CFTC
Insurance
NAIC
CIRC

15. Comparison of Other concepts
Islamic finance
I. Definition of Islamic finance
(a) Islamic finance operates by Islamic Law (Shariah)
→ Profitability < Morality or Social(Quran and Hadith)
(b) Committee of Shariah determines legality of financial products
(C) Islamic finance prohibits payment of interest and charges(Riba).
(d) The Main products of the Islamic bond is Sukuk.
→ Sukuk is consists of Murabaha, Mudaraba, Ijara, Mushakah,
Istithna, Muqarada, Salam, and Mujara.

16. Comparison of Other concepts
Murabaha
When Financial Institution provides funds to buy,
Such funds and fees are recovered in installments.
Real estate contract
(1)
Financial
Institution
Building
Real estate contract
(2)
Financial
Institution
A person
Premium and Commission

17. Comparison of Other concepts
Mudaraba
First, Financial Institution provides a money type of investment to the corporates. And when the corporates make a profit, the financial institution takes the principal and some of earnings.
A money type of investment
(1)
Financial
Institution
Corporate
The principal and earinings.

18. Comparison of Other concepts
Legal Search(West Law)

19. Comparison of Other concepts
Legal Search(West Law)

20. Comparison of Other concepts
Legal Search(West Law)

21. Comparison of Other concepts
Legal Search(West Law)

22. Comparison of Other concepts
Legal Search(West Law)

23. Comparison of Other concepts
Legal Search(West Law)

24. Comparison of Other concepts
Legal Search(West Law)

25. Comparison of Other concepts
Legal Search(West Law)

26. Definition of Financial law
References
1) Financial law by Kim
2) Lecture on Commercial Law by Dr. Chung
3) Wikipedia
- financial law, international financial institutions
- U.S financial institutions, financial industry.
4) Islamic banking and finance legal systems around
the maintenance status by Su-Hyun An
5) Islamic finance by
6) West law Fordham of corporate & finance law
by Susan Lorde Martin

27. Thank you!