'Banking Law' in the Twenty-First Century
JOSEPH J. NORTON
Of Professor Roy Goode's numerous and significant contributions to the Academy, the one that most probably will shine the brightest and widest will be his audacious establishment of the Centre for Commercial Law Studies ( CCLS) at the University of London. The primary objectives of the CCLS were and are (i) to promote, through advanced teaching, research and research seminars/conferences, the systematic study of national, European, and international 'commercial law' in a broad and interconnected context, and (ii) to develop an institutional base of interdisciplinary knowledge and know-how that could be placed at the service of government, the legal profession, industry, and commerce. The CCLS was and is to be a true Icentre' or forum for the identification of legal problems of the future arising from changes in business, commercial, and market practices (and from related technological advancements) and for the testing and the exchange of new ideas, views, and expertise among academics, government officials, practitioners, and those engaged in commerce, finance, and industry. A most radical approach to postgraduate legal education and research!
It was within the cradle of this 'centre' that the first meaningful and relevant treatment of banking law could be made in the United Kingdom (if not in all of Europe). The then limited parameters of the private law dimensions of the subject matter could be broadened and could be analysed by Professor Ross Cranston (the first Sir John Lubbock Professor of Banking Law) in a comparative manner. Further, the growing public and regulatory aspects of 'banking' could be explored in an interdisciplinary and international milieu, one that could factor in technological and product innovations. Moreover, the fundamental importance of both the private and public law underpinnings of banking law could be examined vis-à-vis the development of the European Community common internal market and now the transition toward an Economic and Monetary Union for Western Europe (or at least parts thereof). Equally crucial has been the CCLS's academic capacity in the 'banking law area' to respond critically to the needs for viable financial laws and market models in the emerging economies of Central and Eastern Europe, Africa, the Asia-Pacific Area, and Latin America.