Course Catalogue

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This course provides an in-depth analysis of the regulatory frameworks of some of the most important parts of the financial system, including the banking system, the payment and settlement systems, and the shadow banking system. The analysis of these regulatory frameworks will be grounded in initiatives developed at the international level that aim at coordinating financial regulation in different jurisdictions. These international initiatives will serve as a roadmap to explore the specific regulatory frameworks in the U.K. In this course, students will examine these regulatory frameworks with a critical perspective, informed by critical reflections on the purpose and function of financial regulation, and by considerations of political economy. Such a critical analysis will be particularly prominent in the examination of recent developments in finance, such as the rise of fintech and the growing appetite for sustainable finance.

10 x 2-hour seminars

This course is only available to LLB students.

Business Organisations (Level 2) is a requirement of entry.

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The course is assessed by an examination (100%).

Reassessments are normally available for all courses, except those which contribute to the Honours classification. Where, exceptionally, reassessment on Honours courses is required to satisfy professional/accreditation requirements, only the overall course grade achieved at the first attempt will contribute to the Honours classification. For non-Honours courses, students are offered reassessment in all or any of the components of assessment if the satisfactory (threshold) grade for the overall course is not achieved at the first attempt. This is normally grade D3 for undergraduate students and grade C3 for postgraduate students. Exceptionally it may not be possible to offer reassessment of some coursework items, in which case the mark achieved at the first attempt will be counted towards the final course grade. Any such exceptions for this course are described below. 

The course aims to provide students with an in-depth understanding of the substantive regulation of some of the most important parts of the financial system. It also aims at fostering students' critical evaluation of the goals and effectiveness of regulation in those parts of the financial system. Lastly, the course aims at raising students' awareness about the challenges and opportunities that recent developments in financial systems, such as the advent of financial technology (fintech) and the growth of sustainable finance, pose for existing regulatory frameworks.

By the end of this course, students will be able to:

■ Critically evaluate the functions and styles of financial regulation

■ Explain the policy rationales behind the regulation of the banking and the shadow banking system

■ Describe the substantive regulation of the banking and the shadow banking system in the UK

■ Describe the regulatory and supervisory architecture in the UK

■ Reflect on the regulatory opportunities and challenges presented by the raise of financial technology (fintech)

■ Reflect on the regulatory opportunities and challenges presented by the growing appetite for sustainable finance

Completion of the summative assessment.