International Banking and Fintech Law and Regulation
| Module title | International Banking and Fintech Law and Regulation |
|---|---|
| Module code | LAWM183 |
| Academic year | 2023/4 |
| Credits | 15 |
| Module staff | Dr Radek Stech (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 30 |
|---|
Module description
This module introduces you to key aspects of the operation of the law of international banking (and shadow banking) in the context of FinTech. You will start by exploring the role of banks in the economy and examining the regulatory structure in which banks operate at an international, EU and UK level, looking for example at the role the Financial Stability Board, the Bank of International Settlements, the European Central Bank, EU European Banking Authority and, in the UK, the role of the Prudential Regulatory Authority and Financial Conduct Authority. You will learn about the causes of the Global Financial Crisis and critically discuss the current regulatory and developments aimed at avoiding and mitigating current and future crises. You will review how common law influences the international banking regulatory scene through the banker-customer relationship. Further, you will consider the control of money laundering and terrorist financing, as well as the duties imposed on banks to assist law enforcement agencies. Finally, you will have an opportunity to put this knowledge in the context of FinTech developments (e.g blockchain, crypto currencies, quantum computing) that the global regulators and all major central banks currently engage with.
The module is addressed to students in both law and business schools and is based upon the collaboration that will enhance the existing student knowledge base. No prior knowledge of banking law and regulation as well as Fintech is necessary.
Module aims - intentions of the module
The module aims to introduce those students interested in commercial law, international law and business law to the operation of international banking and Fintech law and regulation. It aims to give you the opportunity to explore the development and purpose of banking regulation, and to discuss their operation in the Fintech context. While a key aim is to give you the opportunity to acquire an in-depth knowledge of the law in this area, the module also aims to enable you to evaluate the competing pressures on the banking market today, and the innovative Fintech developments. It aims to give students interested in pursuing a career in the area of commercial law or business/Fintech a sound introduction to the key principles and practices of international banking law and Fintech.
The module will enhance students’ prospects in taking up employment opportunities in commercial law firms, commercial banks, new FinTech banking platforms, international regulators and central banks as well as audit/consultancy firms.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Demonstrate a detailed and systematic knowledge of the international regulatory structures applied to modern banks, and evaluate whether such structures address the problems of regulation posed by the recent international financial crises;
- 2. Demonstrate deep and critical awareness of a wide range of Fintech implications of the various legal and regulatory dimensions of international banking;
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 3. Demonstrate detailed and comprehensive knowledge of the relevant international, European Union and UK legal instruments, case-law, statutory materials and critical legal literature as well as critical awareness of their contextual implications;
- 4. Demonstrate flexible and innovative capacity to analyse complex legal/regulatory problems, identify the relative significance of applicable rules, principles and Fintech solutions. Select appropriate methods for investigating and critically evaluating them;
- 5. Apply detailed and comprehensive legal knowledge to a problem and argue alternative approaches;
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 6. Identify, retrieve and use the full range of available resources efficiently and autonomously for specific learning tasks;
- 7. Clarify, plan and undertake tasks confidently and independently, individually and/or with others, to reflect critically on the learning process and to make use of feedback effectively;
- 8. Work independently, within a limited time frame, to complete a specified task and present the outcomes in a professional manner;
- 9. Work individually or as part of a team, within a limited time frame, to complete a specified task and present the outcomes in a professional manner.
Syllabus plan
Whilst the module’s precise content may vary from year to year it is envisaged that the syllabus will cover the following topics:
- General history and introduction of the development of modern banking, including shadow banking;
- Role of innovation in banking with the focus on FinTech;
- The structure of international banking regulation in particular the work of the Financial Stability Board and the Bank of International Settlements and current and upcoming Basle Agreements;
- European Union Banking regulation in particular the operation of the Single Supervisory Mechanism and the European Banking Authority;
- UK banking regulation – the role of the Bank of England, the Prudential Regulatory Authority and the Financial Conduct Authority in relation to the operation of banks;
- The regulation of money laundering and terrorist financing;
- The banker-customer relationship and the key private law elements of typical banking contracts that are important in relation to business lending;
- Fintech and its innovative applications (e.g. Bitcoin, other digital currencies, smart contracts, big data, quantum computing).
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 15 | 135 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching | 3 | Two introductory lecture sessions (one on banking and one on Fintech) of 1.5 hour each. |
| Scheduled Learning and Teaching | 12 | Eight lecturer-led seminars of 1.5 hour each. Students will be expected to participate in delivering at least one presentation, either individually or, if numbers are large, as part of a team, during the course of the seminar programme. |
| Guided Independent Study | 85 | Preparation for seminars, including the team presentation. |
| Guided Independent Study | 50 | Preparation for the summative assessment |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Team presentation | 12-15 minutes (500 words equivalent) | 1-9 | Written feedback and provision for individual discussion with students over any concerns or problems |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 100 | 0 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Portfolio | 100 | The portfolio includes an individual recorded presentation (500 words equivalent, i.e. 12 15 minutes) or a poster (500 words equivalent) and a reflective report of 2000 words | 1-9 | Oral and Written |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Portfolio, which includes an individual recorded presentation (500 words equivalent, i.e. 12 15 minutes) or a poster (500 words equivalent) and a reflective report of 2,000 words | Portfolio, which includes an individual recorded presentation (500 words equivalent, i.e. 12 15 minutes) or a poster (500 words equivalent) and a reflective report of 2,000 words | 1-9 | Referral/Deferral period |
Indicative learning resources - Basic reading
- I. Chiu, J. Wilson, Banking Law and Regulation (OUP 2019)
- A. Tanda, C-M Schena, FinTech, BiTech and Banks (Palgrave Macmillan 2019)
- A. Kokkinis, A Miglionico, Banking Law.q Private Transactions and Regulatory Frameworks (Routledge 2021)
- A.N. Berger, P. Molyneux, J.O.S. Wilson The Oxford Handbook of Banking (OUP 2019)
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | None |
| Module co-requisites | None |
| NQF level (module) | 7 |
| Available as distance learning? | No |
| Origin date | 13/04/2023 |
| Last revision date | 25/04/2023 |
