Dr Philipp Paech

This course is available on the LLM (extended part-time), LLM (full-time), MSc in Accounting, Organisations and Institutions, MSc in Regulation, MSc in Risk and Finance and University of Pennsylvania Law School LLM Visiting Students. This course is not available as an outside option.

This course has a limited number of places and demand is typically high. This may mean that you’re not able to get a place on this course.

This course focuses on the micro- and macro-prudential regulation of financial institutions and the financial system. It examines the prudential regulation of banks, bank resolution schemes, the regulation of shadow banking and other regulatory attempts to ensure financial stability, including with regard to novel, technology-induced types of financial services ('FinTech'). The focus will be on the regulation of national and international aspects of financial institutions and the financial system, rather than on private law and transactional aspects.

No previous knowledge of financial market regulation or background in economics is required for those wishing to follow this course. For non-lawyers, a willingness to engage in legal analysis will be necessary, although a legal background is not required.

The syllabus may include the following topics:

The Rational of International, EU and UK Regulatory Structures

Core concepts of Financial Regulation, pre- and post-Crisis

Financial Stability – Policy Issues, Principles and Global Standard Setters

Prudential Regulation of Banks – The Basel Accords

National and Cross-border Resolution of Failing Banks

Regulating Shadow Banks

Regulating Credit Rating Agencies

Regulating FinTech

This course will have two hours of teaching content each week in Winter Term. There will be a Reading Week in Week 6 of Winter Term.

All students are expected to produce one 2,000 word formative essay during the course. The course offers also a voluntary mock exam.

A full reading list will be distributed during the course and essential materials will be made available to the students electronically where possible. In addition, the students will be invited to do independent reading. A good general introduction is J. Armour et al, Principles of Financial Regulation, OPU 2016

Exam (100%, duration: 2 hours, reading time: 15 minutes) in the spring exam period.