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International Financial Law in Japan, US and Europe: Discrepancies and Solution

Research Project

Project/Area Number 12572009
Research Category

Grant-in-Aid for Scientific Research (B)

Allocation TypeSingle-year Grants
Section海外学術
Research Field Civil law
Research InstitutionSophia University

Principal Investigator

MORISHITA Tetsuo  Sophia University, Law School, Professor (80317502)

Co-Investigator(Kenkyū-buntansha) ISHIGURO Kazunori  University of Tokyo, Law Faculty, Professor (00009854)
Project Period (FY) 2000 – 2003
Project Status Completed (Fiscal Year 2003)
Budget Amount *help
¥11,200,000 (Direct Cost: ¥11,200,000)
Fiscal Year 2003: ¥1,600,000 (Direct Cost: ¥1,600,000)
Fiscal Year 2002: ¥3,200,000 (Direct Cost: ¥3,200,000)
Fiscal Year 2001: ¥3,200,000 (Direct Cost: ¥3,200,000)
Fiscal Year 2000: ¥3,200,000 (Direct Cost: ¥3,200,000)
KeywordsInternational Financial Law / Securities Settlement / tracing of money / syndicated loan / derivatives / fiduciary duty / financial supervision / bank insolvencies / 金銭 / 証券振替決済 / 信託 / 銀行監督
Research Abstract

In this research, various legal issues on such wide areas as financial supervision, conflict of laws, relationship with customers, money and securities settlements, lex monetae, loan transactions, securities transactions, securitization and CDS, bank insolvencies are discussed. The analysis focus on Japanese laws with comparison with US and European laws, especially English laws.
As a result of the research, 10 articles and the final report which has more than 300 pages are made. When we consider some issues which are not so familiar in Japan, it was useful way of research to read cases in US and UK and consider how Japanese would decide if the same kind of disputes occur in Japan. In fact, in the final report, many US and UK cases are introduced and discussed.
This research revealed that financial laws are very global in one aspect, but at the same time, very local in other aspect. Financial transactions easily cross the borders, so law and regulation must work globally. On the other hand, the most desirable content of financial laws depends of the society, the economy and the parties to which the rules would be applied. Therefore, it is important to pay sufficient consideration to global standards, it is also important to keep necessary uniqueness with which laws could fit to the society and economies better.
There are various difficult issues which the final report handles. Some of them are as follows:
-How can we achieve the best relationship between supervisors and financial institutions?
-What is the best balance between investors self responsibilities, responsibilities of financial institutions and paternal supervision by the authorities?
-How could law contribute to achieve the best balance in financial transactions?
Some attempt to answer these difficult issues could be found in the report, but further studies are necessary.

Report

(5 results)
  • 2003 Annual Research Report   Final Research Report Summary
  • 2002 Annual Research Report
  • 2001 Annual Research Report
  • 2000 Annual Research Report
  • Research Products

    (27 results)

All 2007 2004 2002 2001 2000 Other

All Journal Article (20 results) Publications (7 results)

  • [Journal Article] 国際的証券振替決済の法的課題(四)2007

    • Author(s)
      森下哲朗
    • Journal Title

      上智法学論集 50・4

      Pages: 45-104

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] 国際的証券振替決済の法的課題(五)2007

    • Author(s)
      森下哲朗
    • Journal Title

      上智法学論集 51・1

      Pages: 13-55

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] シンジケート・ローンにおけるアレンジャー、エージェントの責任2007

    • Author(s)
      森下哲朗
    • Journal Title

      上智法学論集 51・2

      Pages: 1-76

    • NAID

      120005884740

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] M&Aにおける投資銀行の責任2007

    • Author(s)
      森下哲朗
    • Journal Title

      黒沼悦郎・藤田友敬編『江頭憲治郎先生還暦記念企業法の理論(下)』

      Pages: 131-185

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] Legal Aspects of Cross-Border Securities Settlements (4)2007

    • Author(s)
      Tetsuo Morishita
    • Journal Title

      Sophia Law Review Vol. 50-4

    • NAID

      120005884714

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] Legal Aspects of Cross-Border Securities Settlements (5)2007

    • Author(s)
      Tetsuo Morishita
    • Journal Title

      Sophia Law Review Vol. 51-1

    • NAID

      120005884737

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] Responsibilities of Arrangers and Agents in Syndicated Loans2007

    • Author(s)
      Tetsuo Morishita
    • Journal Title

      Sophia Law Review Vol. 51-2

    • NAID

      120005884740

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] Responsibilities of Investment Banks in M&A Transactions2007

    • Author(s)
      Tetsuo Morishita
    • Journal Title

      Etsuro Kuronuma, Tomotaka Fujita ed., Kigyoho no Riron Vol. 2

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] 国際証券決済法制の展開と課題2004

    • Author(s)
      森下哲朗
    • Journal Title

      上智法学論集 47・3

      Pages: 1-43

    • NAID

      120005884458

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] Recent Developments in International Securities Settlements: Some Legal Aspects2004

    • Author(s)
      Tetsuo Morishita
    • Journal Title

      Sophia Law Review Vol. 47-3

      Pages: 214-214

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] 国際倒産と銀行倒産2002

    • Author(s)
      森下哲朗
    • Journal Title

      国際私法年報 2001

      Pages: 236-265

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] 国際的証券振替決済の法的課題(三)2002

    • Author(s)
      森下哲朗
    • Journal Title

      上智法学論集 45・3

      Pages: 149-198

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] Laws on Cross-Border Insolvency in the context of Bank Insolvencies2002

    • Author(s)
      Tetsuo Morishita
    • Journal Title

      Japanese Yearbook of Private International Law Vol. 3

      Pages: 236-236

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] Legal Aspects of Cross-Border Securities Settlements (3)2002

    • Author(s)
      Tetsuo Morishita
    • Journal Title

      Sophia Law Review Vol. 45-3

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] 銀行倒産における取引相手方の権利保護について2001

    • Author(s)
      森下哲朗
    • Journal Title

      私法 63

      Pages: 274-281

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] 国際的証券振替決済の法的課題(二)2001

    • Author(s)
      森下哲朗
    • Journal Title

      上智法学論集 44・3

      Pages: 35-81

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] Proprietary Restitution in the case of Bank Insolvency2001

    • Author(s)
      Tetsuo Morishita
    • Journal Title

      SHIHO (Journal of Private Law) No. 63

      Pages: 274-274

    • NAID

      110000463125

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] Legal Aspects of Cross-Border Securities Settlements (2)2001

    • Author(s)
      Tetsuo Morishita
    • Journal Title

      Sophia Law Review Vol. 44-3

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] 国際的証券振替決済の法的課題(一)2000

    • Author(s)
      森下哲朗
    • Journal Title

      上智法学論集 44・1

      Pages: 1-79

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Journal Article] Legal Aspects of Cross-Border Securities Settlements (1)2000

    • Author(s)
      Tetsuo Morishita
    • Journal Title

      Sophia Law Review Vol. 44-1

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2003 Final Research Report Summary
  • [Publications] 森下哲朗: "国際証券決済法制の展開と課題"上智法学論集. 47巻3号. 172-214 (2004)

    • Related Report
      2003 Annual Research Report
  • [Publications] 森下哲朗: "国際証券決済法制の展開と課題(韓国語訳)"BFL(ソウル国立大学Center for Financial Law). 第3号. 93-112 (2004)

    • Related Report
      2003 Annual Research Report
  • [Publications] 森下哲朗: "国際的証券振替決済の法的課題(三)"上智法学論集. 45巻3号. 149-198 (2002)

    • Related Report
      2002 Annual Research Report
  • [Publications] 森下 哲朗: "国際的証券振替決済の法的課題(二)"上智法学論集. 44巻3号. 35-81 (2001)

    • Related Report
      2001 Annual Research Report
  • [Publications] 森下 哲朗: "銀行倒産における取引相手方の権利保護のあり方について"私法. 63号. 274-281 (2001)

    • Related Report
      2001 Annual Research Report
  • [Publications] 森下 哲朗: "国際倒産と銀行倒産"国際私法年報 2001. (2001)

    • Related Report
      2001 Annual Research Report
  • [Publications] 森下哲朗: "国際的証券振替決済の法的課題(一)"上智法学論集. 44巻1号. 1-79 (2000)

    • Related Report
      2000 Annual Research Report

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Published: 2000-04-01   Modified: 2016-04-21  

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