Financial Law
Money makes the world go round and the laws that apply to trade and investment are infinite. All acts of trade involve a contract between the vendor and purchaser, whether written or implied, and it is vital to understand the legal implications of financial transactions. Financial law is in place to protect all of us from our personal banking to investments into the company of our employer.
On a personal level there are many laws in place regarding savings and investments. The bank where we hold our current account alone is governed by strict laws dictating how they look after our money and the access that they allow us to it. There are also extensive laws covering the sale of savings and investment products. These may be sold to us directly by the operating bank or building society, by a representative affiliated to one of these, or by an independent advisor offering impartial advice for no reward from the bank. It would be fairly easy for experts in this field to sell us inappropriate products solely for their own financial reward, so this aspect of the financial industry is governed strictly.
In business it is vital that every transaction whether a purchase contract or a sale is both compliant with and protected by the relevant financial laws. Any but the most basic business transactions should be checked or fall within contracts that have been written by a financial lawyer. In this way a business can be confident that they have shown due diligence in their financial transactions and avoid potential court action.