Course requirements
Master degree in Law. This course is part of the Advanced Master Law and Finance.
More information: https://www.universiteitleiden.nl/en/education/study-programmes/master/law-and-finance
Course information
This course comprises the first course of the core curriculum of the Advanced Master. It focusses on the regulation of financial institutions in the European Union. Financial institutions have an important function in the financial system: they match demand for money (borrowers and net spenders) with supply of money (lenders and net savers). Financial intermediaries are extensively regulated in order to properly perform this function and to maintain public trust in the financial system.
In this course, the various types of financial institutions and the relevant EU regulations will be presented. First we will discuss investment firms, who act as intermediaries on the capital markets. Next, we will go into banks, insurance companies and investment funds. As key players in the financial system, these financial institutions are subject to detailed obligations such as capital requirements, duties of care towards their clients and disclosure requirements. Also, a short introduction will be given concerning the resolution of banks by discussing the EU Bank Recovery and Resolution Directive (BRRD), the Single Resolution Mechanism (SRM) and the Deposit Guarantee Scheme Directive. Finally, the course will discuss payment services providers and credit intermediaries.
The focus of this course will be on obtaining a solid understanding of EU financial regulation for financial institutions, including its international sources, enabling students to apply these rules to concrete cases. Attention will be devoted primarily to, inter alia, MiFID, CRD IV, Solvency 2, BRRD and SRM, AIFMD, PSD2, MCD and CCD. If time permits, attention will be paid to recent developments.
Course learning objectives
The following achievement levels apply with regard to the course.
Students can describe the roles and functions of the various financial institutions on the financial markets (banks, insurance companies, investment firms, collective investment schemes, payment services providers and credit intermediaries) and explain their purpose and relevance for society.
Students understand how the various risks of the business model of financial institutions are reflected in the legislative framework for the financial sector and mitigated by supervision by supervisory authorities of the compliance of the legislative framework.
Students are able to independently assess the strengths and weaknesses of the current legislative framework, both from a legal and economic standpoint, and its ability to deal with financial innovation.
Students can identify the main European instruments of law for financial institutions and are able to apply the relevant rules to a concrete case.
Students are able to individually interpret, argue and conclude a research question in the field of EU financial law.
Mode of instruction
Lectures and seminars will be held in a weekly schedule in a classroom setting with mandatory class attendance. Only when required by government regulation or decided by the Programme Board, teaching will be conducted in an online setting.
Number of (2 hour) lectures & interactive seminars: 16
Names of lecturers: Prof. Bart Joosen; Prof. Pim Rank, Dr. Zeeshan Mansoor, Ms. Peggy Bracco Gartner LLM.
Required preparations by students: reading of prescribed materials, preparation of case studies and any other assignments.
Course Load
Lectures & seminars: 32 hours
Preparation for seminars and exam: 149 hours
Written assignment: 40 hours
Exam: 3 hours
Total: 224 hours
Week 1 – Investment firms
Week 2 – Investment firms
Week 3– Banks
Week 4 – Banks
Week 5 – Insurance companies
Week 6 - Collective investment schemes
Week 7 - Payment service providers & open banking
Week 8 – Consumer credit providers & mortgage credit providers
Examination method
Written assignment: 30%
Final exam: 70%
The final grade, on the scale from 1(poor) to 10 (outstanding), for the course is established by determining the weighted average of the written assignment and final exam and rounded to full grades. Grade 6 (5.5 rounded) is a pass.
The written assignment will require you to write an essay of 2500 words on one of the topics discussed in the course.
The final exam will be a written exam or an oral exam. The final exam covers all the material delivered during the lectures and the seminars.
Further information about the written assignment and the exam will be communicated to students through Brightspace closer to the due date and exam date.
Brightspace
Course reader and additional literature is distributed through Brightspace.
Submission of written assignment via Brightspace using Turnitin.
Course materials
The course will require reading of materials consisting of chapters of books, scholarly articles and other papers which will be published or made available via the library as specified in the Course Reader.
As well as articles and papers specifically assigned per week as set out in the course reader.
Course reader is available to be downloaded from Brightspace.
Contact
Course Coordinator:
Ms. M.E.J. Bracco Gartner LLM
Email address: m.e.j.bracco.gartner@law.leidenuniv.nl
Programme Coordinator:
Ms. Orsolya Kalsbeek-Bagdi
Email address: lawandfinance@law.leidenuniv.nl
Disclaimer: Currently these pages are being updated to reflect the courses for 2024 - 2025. Until these pages are fixed as per 1 September 2024 no rights can be claimed from the information which is currently contained within. Should there be any future extenuating circumstances which may impinge our teaching and assessment, these could necessitate modification of the course descriptions after 1 September. This will only happen in the event of strict necessity and the interests of the students will be taken into account. Should there be a need for any change during the course, this will be informed to all students on a timely basis. Modifications after 1 September 2024 may only be done with the approval and consent of the Faculty Board and Programme Director.