LAW47715: FINANCIAL REGULATION

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• 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.

• 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.

Subject-specific Knowledge:

• 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.

Subject-specific Skills:

• 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.

Key Skills:

• 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.

• 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.

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