PART A (2000 words, 50% of the marks) 1. Critically discuss the operation of building societies. Do you agree that building societies still perform a useful function for the society and the national economy? (1000 words). 2. Critically discuss the operation of European Systemic Risk Board. Do you think that the new institution will be capable to identify early and prevent future financial crises in EU? Explain your answer by reference to relevant literature (1000 words). PART B (1000 words, 50% of the marks) Answer ALL questions: 1. Martin is the manager of a Bradford branch of Barclays bank. Last month Martin was at a dinner with friends, where he heard by Marina, one of his friends, that someone called Jason Owen, who was Marinaâ€™s neighbour, was a very capable drug dealer who had always been capable of escaping police attention for his illegal activities. A few days later when Martin was on duty at the bank, he was asked by one of his employees to sign off a payment of Â£100,000 from Jason Owenâ€™s Barclays account to an overseas account. Martin did not know Jason but remembered what Marina said during the dinner about Jasonâ€™s illegal activities. Martin became concerned that if he signed off the payment or failed to disclose the case he might be found criminally liable for breach of anti-money laundering legislation. Martin was also concerned that if Jasonâ€™s transaction was reported but turned out to be clear, Jason might sue the bank, which could cause Martin problems with his bank bosses, who could see Martinâ€™s action as unjustified and damaging to the bankâ€™s relationship with Jason. Advise Martin. (500 words). 2. Tony is the owner of a retail business in Bradford. Tony has a current account in Natwest Bank, which he operates for his business. Tony has instructed the bank to pay only cheques issued and signed by him. Last month, Tony discovered that Emily, his girlfriend, had forged two of Tonyâ€™s cheques, worth Â£20,000. Emily appeared to be the payee in those cheques. Tony, who was planning to marry Emily in 2016 did not say anything to the bank about the forgery because Emily, when confronted, told him that she would use the money to improve their home.Emily then cashed the cheques. Last week, though, Tonyâ€™s relationship with Emily broke down due to Emilyâ€™s sudden disappearance. Tony, unable to find Emily and fearing loss of the money, decided to sue Natwest on the grounds that it made an unauthorised payment out of Tonyâ€™s account. Advise the bank (500 words). *UK LAW AND CASES FOR REFERENCE AND INCLUDE BIBLO
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