disputes through mediation and negotiation.
Extraterritorial US Financial Regulations* United States financial regulation and financial sanctions programmes have become increasingly important in today’s global financial markets and often impose onerous regulatory requirements for non-US banks and financial service firms. The module will focus on the extraterritorial legal and regulatory framework of US banking, securities, anti-money laundering and economic sanctions laws and their impact on European and other non-US financial service firms and any businesses which conduct transactions with US persons or in the US, or control or manage US property outside the US.
UK Banking and Securities Regulation*
The course will address the law and regulation governing banks and securities firms in the United Kingdom and related issues of corporate governance of financial institutions and securities firms. Key areas include: the public law aspects of banking and securities regulation as set forth under the Financial Services and Markets Act 2000 and the relevant regulations and rules adopted by the Financial Services Authority. The rules governing disclosure of listed companies as set forth by the UK Listing Authority and ongoing reporting requirements required by the FSA will be examined. Related rules of accounting regulation will be addressed along with the problems of corporate fraud, market abuse and other legal issues affecting investor protection. Recent case law involving FSA enforcement actions will be examined and ongoing compliance practices of UK financial firms and individuals with the UK regulatory rulebook will be analysed.
Comparative European Banking and Securities Regulation (Elective course)*
Main areas: EU Banking Law, EU Monetary Law, European System of Central Banks/European Central Bank/National Central Banks, Institutional Developments of European Financial Regulation, EU Securities Regulation, Financial Services Action Plan & Lamfalussy framework and Market Abuse and Insider Dealing. The course will provide the opportunity to examine the legal, regulatory and institutional aspects of the law governing banking, monetary policy and payment systems, and investments services and securities markets in the European Union. One of the underlying themes will be the continuing interaction between these aspects and the globalisation of financial markets.
(* = Not offered in the current academic year)