The internal market for financial services and instruments is under construction for over three decades. It has resulted in an impressive number of Directives and Regulations regulating a wide range of financial institutions (such as banks, stock exchanges and investment funds) and financial transactions. In addition, the financial crisis that emerged in 2008 also sparked a new wave of regulation aimed at the prevention of systemic risks in the financial sector.
Purpose of this course is to familiarise students with the manner in which financial markets and services are regulated in the EU, and to provide them with basic knowledge of the key EU financial law instruments (in particular the EU Prospectus Directive and Regulation, the EU Banking Directives, the EU Market Abuse Regulation, the EU Markets in Financial Instruments Directive and the EU Alternative Investment Fund Managers Directive).
Co-ordinator
Europa Institute
Steenschuur 25
2311 ES Leiden
Phone: 071-527 7760
Website: www.europainstituut.nl
Sheena Bruce, s.bruce@law.leidenuniv.nl
Phone: +31 (0)71 527 7821
** Lecturer(s): ** Prof. Rogier Raas
Course Objectives:
Objectives of the course:
Objective of the course is to provide students with basic knowledge of the key EU directives and regulations regulating financial markets and financial services. In addition, the course aims to create awareness of the scope and reach of EU financial markets regulation. This will help students to identify situations which require specialist financial regulation knowledge.
Achievement levels:
The following achievement levels apply with regard to the course:
Knowledge and comprehension:
Gaining basic understanding of the key EU directives and regulations regulating the financial markets (in particular the EU Prospectus Directive and Regulation, the EU Banking Directives, the EU Market Abuse Regulation, the EU Markets in Financial Instruments Directive and the EU Alternative Investment Fund Managers Directive).
Application:
Being able to explain the scope, purpose and requirements of the key EU financial law directives.
Analysis:
Being able to apply working knowledge of the key EU financial law directives to solve cases involving activities or conduct on the financial markets. Making independent assessments of which EU regulations are relevant , and applying those regulations.
Presentation:
Being able to present findings in a coherent and concise manner.
**Mode of Instruction: **
Five interactive lectures of three hours each.
1. Introduction to EU financial markets and services regulation
2. Primary market regulation
3. Regulation and prevention of market abuse
4. Regulation of investment services: Markets in Financial Instruments Directive
5. Regulation of banks and investment funds
Assessment Method(s):
Written exam.
Reading List:
Matthias Haentjens and Pierre de Gioia-Carabellese, European Banking and Financial Law, Routledge 2015. Additional materials to be announced.
Course Materials
- Course Reader can be downloaded from blackboard
Course requirements
- Master degree
Application
- Sheena Bruce, s.bruce@law.leidenuniv.nl – Phone: +31 (0)71 527 7821