FINANCIAL SERVICES REGULATION

SHE Level 5
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code MMN324014
Module Leader Patrick Ring
School Glasgow School for Business and Society
Subject Finance and Accounting
Trimester
  • A (September start)

Pre-Requisite Knowledge

None

Summary of Content

This module considers the theoretical background to the regulation of financial services and sets that theory in context through the study of regulation in practice. In support of the aims of the programme the module forms part of, it focuses on banking regulation and conduct of business regulation, as well as setting all of this material within the broader framework of international developments in financial regulation.

Syllabus

The Foundations of Financial Regulation -360b7 The Economic Rationale for Financial Regulation b7 Regulatory Structures b7 Principle-based and Rule-based Approaches to Regulation Banking Regulation -360b7 The Financial Crises and Systemic Risk b7 Basel , II and III (Credit Market, and Liquidity Risk) b7 Post-crisis reforms and the international structure of regulation Conduct of Business Regulation and Regulation in the UK -360b7 UK regulatory practice b7 Conduct of Business Regulation b7 Regulation and the Consumer

Learning Outcomes

On completion of this module, the student should be able to: 1. Critically discuss the extent to which the provision of financial services requires to be regulated, and the legal and structural approaches to how regulation may be delivered.2. Critically assess the development of banking regulation, both in a national and international context, and discuss the future developments of banking in the context, and aftermath, of the great financial crisis. 3. Evaluate the importance of the regulation of how a financial institution conducts its business, both in relation to internal governance and its consumers.4. Critically evaluate current international developments in financial services.5. Identifying the main concepts and issues in problem situations, and formulating solutions through directed learning activity, teamwork and presentations6. Use appropriate language and form when writing, making verbal presentations and undertaking written work.7. Exhibit advanced research skills in carrying out research for seminars and assessed coursework

Teaching / Learning Strategy

The MSc International Banking Finance and Risk Management programme is geared towards the development of business skills that encourage responsible leadership, internationalisation and professionalism, aiming to engage students in analysis, research and discussion of contemporary, real life issues. The teaching and learning strategy aims to embed these attributes. Face to face contact involves three hours of class contact per week: normally 2 lectures and 1 seminar. Lectures will be used to highlight the key issues in a specific topic and point the way towards relevant journal articles and other appropriate literature. Students will be then expected to prepare for following week's lectures on each topic by engaging in literature searches, undertaking relevant reading and preparing responses to discursive and where necessary, computational questions. The lectures will adopt a variety of teaching styles including seminar style contributions such as group discussion to enhance intellectual, critical and analytical skills. For more applied topics, students will be required to attempt relevant problem or scenario based questions prior to the lectures taking place, providing the basis for deepening professional skills, knowledge and understanding. Module classes are conducted in workshop format providing a mix of tutor led, student led and group learning. Extensive use is made of VLE to complement and support the face to face and independent learning elements of the module as well as enhancing the student learning experience and engagement. The V LE site used as a repository for resources including key readings such as scanned material, journal articles, book chapters, digital book chapters, web-links, embedded video clips but also for interactive forums such as discussion boards and blogs. The teaching and learning strategy includes 8 hours of practicals to complement the face to face delivery of the module and independent learning through such activities as specialist speakers, site visits related to project management and other academic community activities to enhance the learning experience such as an away-day to develop dissertation topics from within the distinct module areas. { 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

Indicative Reading

Acharya, V., Cooley, T., Richardson, M., Walter, I. (2010) Regulating Wall Street: The Dodd-Frank Act and the New Architecture of Global Finance, John Wiley and Sons Alexander, K. and Dhumale, R. (2011) Research handbook on International Financial regulation, London, Edward Elgar 978 0 85793 045 3 Avgouleas, E.(2012) Governance of Global Financial Markets: The Law, the Economics , the Politics, CUP Benston, G.J. (1998) Regulating Financial Markets: A Critique and some Proposals, Hobart Paper 135, London, The Institute of Economic Affairs Brunnermeier, M., Crockett, A., Goodhart, C. Persaud, A. and Shin, H.S. (2009) The Fundamental Principles of Financial Regulation, London, Centre for Economic Policy and Research (available electronically from CEPR) Websites Bank of England: www.bankofengland.co.uk Bank for International Settlement: www.bis.org British Bankers Association: www.bba.org.uk The Compliance Exchange: <http://ds.dial.pipex.com/jhalsey/> European Banking Authority: <http://www.eba.europa.eu/> European Central Bank: www.ecb.int European Systemic Risk Board: <https://www.esrb.europa.eu/home/html/index.en.html> Financial Conduct Authority: <http://www.fca.org.uk/> Financial Conduct Authority (FCA): www.fca.org.uk <http://www.fca.org.uk> Financial Reporting Council - www.frc.org.uk/ <http://www.frc.org.uk/> Financial Stability Board: <http://www.financialstabilityboard.org/> International Association of Insurance Supervisors: <http://www.iaisweb.org/> International Financial Risk Institute: www.risk.ifci.ch International Monetary Fund: www.imf.org International Organisation of Securities Commission: www.iosco.org Prudential Regulatory Authority: <http://www.bankofengland.co.uk/PRA> Risk Centre: www.riskcentre.com The World Bank: www.worldbank.org

Transferrable Skills

-360 1. Problem-solving - identifying the main concepts and issues in problem situations and formulating solutions will be accomplished through practical work in lectures and seminars 2. Personal and interpersonal skills - self-responsibility will be emphasised through directed learning activity; seminars will be used to encourage co-operation and teamwork in the formulation and presentation of work -360 3. Communication - the ability to use appropriate language and form when writing and speaking will be enhanced by making verbal presentations in, and preparing written work for, seminars 4. Research skills - the ability to enhance research skills will be acquired though carrying out research for seminars and assessed coursework

Module Structure

Activity Total Hours
Practicals (FT) 8.00
Seminars (FT) 12.00
Independent Learning (FT) 112.00
Assessment (FT) 44.00
Lectures (FT) 24.00

Assessment Methods

Component Duration Weighting Threshold Description
Coursework 1 n/a 50.00 45% Seminar and Essay 2000 words
Coursework 2 n/a 50.00 45% Case Study 2000 words