Admission requirements
None. However, knowledge of commercial law (law of contracts and property law), as well as public law is recommended.
Description
Over the past two decades, regulation of financial institutions and financial markets has increased dramatically. Financial markets are highly regulated in order to protect the integrity and stability of the markets and the interests of investors in those markets. Banks, investment firms, investment funds and other financial institutions are subject to detailed obligations such as capital requirements, duties of care towards their clients, and disclosure requirements. Also, market conduct rules such as the prohibition of insider trading and market manipulation, the obligation to publicly disclose major holdings in listed companies and rules governing public takeover bids aim to ensure the proper functioning of financial markets as a whole. Many of these rules have been developed and are harmonised on the European level. This course provides an overview of the most important aspects of financial regulation. Also, important financial transactions are discussed. The perspective of this course is international.
This course will therefore cover the following elements:
an introduction to European banking and financial law, its primary focus on the EU regulatory aspects, i.e. legislative and supervisory;
the supervisory architecture of financial supervision in the EU, including the Banking Union;
the most important legislative instruments regulating stock markets and the issuance of and trade in securities, e.g. rules on prospectuses, market abuse and transparency;
the most important legislative instruments regulating banks, investment firms and investment funds; and
the most important financial contracts on, inter alia, loan finance, derivatives, collateralised finance and structured finance.
Course objectives
After following this course, the student is able to:
identify the relevant categories of financial institutions, explain their differences and identify the applicable legislation;
set out the relevant financial supervisory authorities and their tasks and powers within the European supervisory architecture;
explain the workings of and the differences between the financial contracts used in various financial transactions;
identify and solve a case while applying relevant financial legislation; and
individually conduct research in order to answer a pre-formulated research question and present his/her findings in an oral presentation.
Timetable
The timetable of this course can be found in uSis.
Mode of instruction
Lectures
Number of (2 hour) lectures: 7
Names of lecturers: Prof. Matthias Haentjes, Prof. Rogier Raas, Prof. Pim Rank
Required preparation by students: reading of prescribed materials.
Seminars
Number of (2 hour) seminars: 7
Names of instructors: R. Spence LLM, J.T. Tegelaar LLM
Required preparation by students: reading of prescribed materials, preparation of case studies and any other assignments. A student cannot be absent from the seminars.
Attendance at the seminars is compulsory.
Assessment method
Examination form(s)
written exam (80%)
oral presentation (practical exercise) (20%)
Examination is open only to students who passed for the practical exercise (afgelegd met goed gevolg).
The practical exercise consists of an oral presentation and cannot be retaken.
The 20% score earned on the practical exercise will remain valid for the re-sit.
- The final grade is given if the student has achieved a score on both parts (i.e. practical exercise, and the written exam or re-sit). Students pass the course when the final grade is a 5,5 or higher. If a student has not passed the course by the end of the academic year, partial grades for written exam or presentations/class participation are no longer valid.
Regulation retake passed exams
In this course it is possible to retake an exam that has been passed (cf. art. 4.1.8.1 and further of the Course and Examination Regulations), on the condition that this course is included in the compulsory components of the degree programme. Students who have passed the exam may retake the final written assessment (test) of the course. Please contact the Student Administration Office (OIC) for more information.
Areas to be tested within the exam
The examination syllabus consists of the required reading (literature) for the course, the course information guide and the subjects taught in the lectures, the seminars and all other instructions which are part of the course.
Blackboard
More information on this course is offered in Blackboard.
Reading list
Obligatory course materials
Literature
M. Haentjens & P. de Gioia Carabellese, European Banking and Financial Law, Oxford: Routledge 2015.
Course information guide
To be published on Blackboard
Recommended course materials
M. Haentjens & P. de Gioia Carabellese, European Banking and Financial Law Statutes, Oxford: Routledge 2018.
Any additional recommended course materials will be published on Blackboard
Registration
Students have to register for courses and exams through uSis.
Contact information
Coordinator: R. Spence LLM
Work address: Steenschuur 25, Leiden
Contact information: Kamerlingh Onnes Building, Room C2.22
Telephone number: +31 (0)71 527 7235 (secretariaat Financieel recht)
Email: r.spence@law.leidenuniv.nl
Institution/division
Institute: Privaatrecht
Department: Financial Law
Room number secretary: B2.43
Opening hours: 09.00-13.30
Telephone number secretary: +31 71 527 7235
Contractonderwijs
Belangstellenden die deze cursus in het kader van contractonderwijs willen volgen (met tentamen), kunnen meer informatie vinden over kosten, inschrijving, voorwaarden, etc. op de website van Juridisch PAO. Let op dat er wel voldaan moet worden aan de toegangseisen.