Module LAW47715: FINANCIAL REGULATION

Department: Law

LAW47715: FINANCIAL REGULATION

Prerequisites

• None

Corequisites

• None

Excluded Combination of Modules

• None

Aims

• To introduce students to the structure and functioning of the financial system, including actors, regulators, supervisors, and core products, services and instruments offered;
• To provide a good knowledge of the basic institutional architecture and governance of the UK financial system and, when possible, of the EU and the international financial system;
• To introduce students to the regulatory obligations applicable to banks, investment firms, and market infrastructures when buying or offering a financial product and/or service under English law;
• To provide a good understanding of the nature of money and payments;
• To encourage an awareness of the social and economic contexts and the systemic goals that influence the regulation of financial products and services.

Content

• The structure of the financial system (banks, investment firms, payment firms, investors, consumers, regulators, supervisors);
• Capital regulation;
• Liquidity regulation;
• Money and payment systems;
• Bank supervision and supervisory fines;
• Regulation and supervision of capital markets.

Learning Outcomes

• Students will gain a basic understanding of the financial system and its basic components;
• Students will gain a basic understanding of the principles of financial regulation as they apply at the UK, EU, and international levels;
• Students should familiarize themselves with the secondary literature on financial law and financial policy;
• Students should be able to demonstrate knowledge of the key legal, regulatory, and supervisory issues relating to the working of banks, investment firms, and other financial institutions;
• Students should be able to understand the evolution of the financial system and to critically analyze such developments.

• Students will be able to identify and describe the roles played by the UK, EU, and international policymaking, regulatory and supervisory bodies responsible for the health of the financial system;
• Students will be able to identify the legal issues relevant to specific problems relating to finance and financial regulation and supervision;
• Students will be able to articulate and apply the core principles of financial law and regulation to real financial scenarios;
• Students will be able to explain the limitations of the current legal, regulatory and supervisory system;
• Students will be able to engage in informed debate on the evolution of the law in the field of banking and capital markets law.

• Demonstrate developed research and writing skills, including working independently and taking responsibility for their own learning;
• Develop expertise in conducting research into regulatory materials from a variety of national and comparative sources;
• Describe accurately and comprehensibly the arguments and analysis of other commentators;
• Show the skill of formulating complex policy arguments.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• The teaching will be based on seminars supported by substantial but targeted reading assignments before each seminar to provide a deeper understanding of the issues. The readings are selected from established doctrinal sources and cutting-edge scholarship in the area;
• The assessment supports the aims of the teaching methods. The summative essay will assess the ability of the students to analyze the subject material, conduct research, and present a structured and articulate argument on the subject.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University