This book explains the legislation and regulation of international finance and how it should be applied. It focuses on the underlying principles and problems of financial markets and financial law, covers the new regulatory regimes in the US and Europe, as well as developments arising from Basel II and looks at the infrastructure of financial markets making the basis of financial markets and their operations clear. Using case studies and examples throughout to show how the law is applied in practice, the book also examines the major domestic markets of the US, EU and Japan, providing a vital cross-border perspective and considers offshore and emerging markets. The book covers the continuing expansion of US Capital Market regulation, new EC Directives and new proposed debt crises measures, includes new guidance on controlling the finances of terrorism and contains a new chapter on The Transatlantic Capital Market.