Law School Module Details
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title INTERNATIONAL FINANCIAL SERVICES LAW
Code LLAW108
Coordinator Dr J Zrilic
Law
J.Zrilic@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2021-22 Level 7 FHEQ Whole Session 15

Aims

This module seeks to introduce students to the core legal principles underpinning the study of international financial services law. It is a study of the concepts, issues and problems encountered within the framework of regulating financial services and markets in the 21 st century. It is intended to provide a central point of reference for appreciating the contractual aspects of financial services law, and especially the regulatory dimensions governing the provision and operation of financial services within financial markets.

Learning Outcomes

(LO1) Demonstrate thorough knowledge of the contractual and regulatory orientation of principles underpinning “financial services law” in the 21st century;

(LO2) Demonstrate understanding of the significance of the international platform for forging "financial services law" in the 21st century, and thus the central significance of "international financial services law"

(LO3) Demonstrate understanding of the existence of an international financial services 'sector'.

(LO4) Demonstrate an awareness of the inter-relationships between different financial service sectors.

(LO5) Locate and handle appropriate legal and non-legal materials.

(LO6) Carry out research in the field of international financial services law.

(LO7) Conduct effective research, including the use of legal information retrieval systems to locate and collate information about the law applicable in a given situation; and

(LO8) Demonstrate an ability to analyse and present materials

(S1) Critical analysis appropriate for advanced level masters study.

(S2) Problem-solving skills applicable to complex theoretical and practical contexts.

(S3) Time management and prioritisation skills by working to deadlines.

(S4) Individual and group communication skills by presentations in an online environment (e.g. the virtual classroom).

(S5) Take responsibility for independent learning agenda.

(S6) Reading, analysing and synthesising different viewpoints, becoming familiar with different viewpoints and presenting findings/conclusions in clear, comprehensible, structured format.

(S7) Critical skills with regard to the merits of particular arguments and making reasoned choices between alternative solutions or arguments in all modules and dissertation.

Syllabus
 

1 Week 1: Globalisation and financial liberalisation Topics : The World Bank and the internationalisation of banking Effects of financial liberalisation on monetary policy Financial vulnerability of a liberalised system Hyman Minsky's Financial Instability Hypothesis Lessons from the South East Asian crisis Week 2: International financial services and their regulation Topics : Financial services and the nature of financial services law The importance of financial services regulation The FSB and IOSCO The role of the WTO The OECD policy framework Week 3: Financial modernisation and the reform of regulatory systems Topics : Financial modernisation and the demand for regulatory reform The US Gramm-Leach-Bililey Act The UK Financial Services and Markets Act 2000 The Financial Services Authority and its responsibilities Regulatory reform in Australia, Germany and other countries Week 4: The transformation of the US financial services industry Topics : Consolidation in the banking industry The shift into high-risk activities Over the counter financial derivatives High risk lending activities Changes in the securities and life insurance industries Week 5: The failure of financial services regulation in the UK Topics : The Northern Rock disaster The 2007-8 crisis and the failure of the tripartite system Complexity in financial services The importance of bank capital regulation The failure of rating agencies and governance of banks Week 6: The EU approach to financial services regulation Topics : Completion of the Financial Services Action Plan The Lamfalussy Model The Company Law Action Plan The Statutory Audit Plan Internal market integration rather than global management Week 7: The global financial crisis Topics : A predictable crisis Financial regulation Managing the financialisation of commodity futures trading Exchange rate regimes and monetary cooperation Towards a coherent effort to overcome the systemic crisis Week 8: Financial regulation after th e crisis Topics : Lessons from the sub-prime crisis The US Treasury recommendations IOSCO Objectives and Principles The Financial Stability Board (FSB) Report The UK Financial Services Act

Teaching and Learning Strategies

Teaching Method 1 - Online Discussions Description: Weekly Online Discussions and Assignments in Virtual Classroom

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours             0
Timetable (if known)              
Private Study 150
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
             
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Final Project There is a resit opportunity. Standard UoL penalty applies for late submission. This is not an anonymous assessment. Assessment Schedule (When) :Week 8      30       
Individual Project There is a resit opportunity. Standard UoL penalty applies for late submission. This is not an anonymous assessment. Assessment Schedule (When) :Whole Session  Weeks 4,6    5       
Discussion Question There is a resit opportunity. Standard UoL penalty applies for late submission. This is not an anonymous assessment. Assessment Schedule (When) :Whole Session  Weeks 1-8    15       
Discussion Question Follow-on There is a resit opportunity. Standard UoL penalty applies for late submission. This is not an anonymous assessment. Assessment Schedule (When) :Whole Session  Weeks 1-8    15       
Hand-in Assignment There is a resit opportunity. Standard UoL penalty applies for late submission. This is not an anonymous assessment. Assessment Schedule (When) :Whole Session  Weeks 2,3,5,7    35       

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.

Other Staff Teaching on this Module
Ms LE McManus School of Law and Social Justice L.E.Mcmanus@liverpool.ac.uk

Modules for which this module is a pre-requisite:
 

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Co-requisite modules:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Additional Programme Information