LWMTFRD-Legal Aspects of International Financial Regulation (Distance Learning)

Module Provider: School of Law
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Module version for: 2016/7

Module Convenor: Dr Andrea Miglionico

Email: pr909131@reading.ac.uk

Summary module description:

Aims:
This module aims to help students understand:
• The legal basis, nature and purpose of financial regulation.
• The financial context and the organisation, purpose and structure of regulators.
• Soft law and hard law mechanisms – how regulators seek to address the risks posed to various stakeholders.
• Regulatory policy development
• Prudential and conduct of business aspects to regulation when managed and supervised by multi-agency regulatory bodies in financial markets.
• The role of governance and culture in financial firms
• Factors that make the financial services regulation and supervision complex or problematic.
• The interaction between regulators, senior managers, risk managers, compliance professionals and auditors.
• The change and evolution of the regulatory architecture and framework for domestic and international financial institutions, especially post-crisis.

Assessable learning outcomes:
On completion of the module, students will be expected to be able to:

?Critically assess the role of central banks from a combined legal and economic perspective.
?Explain the role of soft law and self-regulation in banking and finance.
?Understand the tools and processes of financial supervision and crisis management.
?Explain the relationships between regulated financial institutions and their regulators. Have an advanced knowledge and understanding of the theoretical underpinnings of international financial regulation.
?Appreciate the various national and international dimensions and implications of financial regulation.
?Understand the institutional framework for financial regulation.
?Understand the main substantive legal issues related to financial regulation.
?Understand aspects of law and regulation concerning the structure, operation and function of financial markets and financial institutions.

Additional outcomes:
In addition to those listed in the School’s “core skills statement”, the module will encourage the development of:
• High-level oral communication skills through reflective, analytical class discussion
• High-level writing skills through close and critical analysis of both primary and secondary source material
• An ability to apply theoretical and contextual knowledge to practical problems that face people working in the field

Outline content:
The purpose of this course is to examine the regulation of financial institutions and markets, and to contribute to a critical understanding of the subject matter through the analysis of the most relevant areas of financial market regulation, such as banking and securities. This subject has become very topical in response to the financial crisis, which has brought the issues of regulation, supervision and crisis management to the forefront of legal, economic and policy debate. The course provides a contextual approach to the study of financial regulation, drawing on a comparative study of the law in relevant financial centres in the US, UK and EU as well as on the increasing corpus of international financial ‘soft law’. Focus is on the public regulation of national, European and international markets, and not on contractual or transactional aspects.

Global context:
The aim is to provide an understanding of the debate on the appropriate institutional structures for regulating financial institutions at the national level, and the role of market players (eg credit rating agencies, hedge funds) in financial regulation and financial stability. The course is premised upon the notion that the student of financial regulation ought to develop a sound understanding of the various public policy choices available in financial markets in the light of regulatory theories, financial developments and public policy objectives. The course will provide a critical and insightful view of current regulatory developments with the aim to identify the most appropriate regulatory policies towards increasingly complex financial phenomena and markets trends.

Brief description of teaching and learning methods:
There will be a mixture of audio-recorded lectures and on-line tutorials.
The on-line tutorials re-create a seminar environment in a virtual space. The tutor and the students communicate in real time via audio or written messages in the chat box. Discussions will be based on tutor-provided material in order to deepen student learning and encourage engagement with the study material.

Students will also be given the opportunity to submit a formative assessment which will be marked and returned with feedback. The mark will not count towards the module total, but the feedback is intended to provide both students and tutor with the opportunity to see how they are progressing and how they can improve, if necessary.


Contact hours:
  Autumn Spring Summer
Lectures 12
Tutorials 8
Guided independent study 180
       
Total hours by term 200.00
       
Total hours for module 200.00

Summative Assessment Methods:
Method Percentage
Written assignment including essay 100

Other information on summative assessment:
1 x 15 page essay (formatted in accordance with the School of Law’s Assessed Work Rules)

Formative assessment methods:
One formative assessment task which is an important component of students’ progress towards the learning outcomes of the module.

Penalties for late submission:

Penalties for late submission on this module are in accordance with the standard University policy.
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Length of examination:

Requirements for a pass:
50% overall

Reassessment arrangements:
See School of Law PGT Programme Handbook

Additional Costs (specified where applicable):
1) Required text books:
2) Specialist equipment or materials:
3) Specialist clothing, footwear or headgear:
4) Printing and binding:
5) Computers and devices with a particular specification:
6) Travel, accommodation and subsistence:

Last updated: 21 December 2016

Things to do now