LAWS357-21S2 (C) Semester Two 2021

Special Topic: Banking and Financial Regulation in the FinTech Age

This occurrence is not offered in 2021

15 points

Details:
Start Date: Monday, 19 July 2021
End Date: Sunday, 14 November 2021
Withdrawal Dates
Last Day to withdraw from this course:
  • Without financial penalty (full fee refund): Sunday, 1 August 2021
  • Without academic penalty (including no fee refund): Friday, 1 October 2021

Description

This course aims to give students a solid understanding of the international and national financial regulatory framework and main pieces of financial regulatory legislation.

The latest global financial crisis highlighted a number of serious shortcomings in the regulation of the global financial system, and financial regulation has been at the centre stage ever since. Policymakers worldwide are putting tremendous effort in reassessing the basic assumptions underlying their respective financial regulatory approaches and methodologies to reduce the likelihood of a crisis of such magnitude occurring ever again. But is this a realistic goal? Can good financial regulation prevent future financial crisis or is the financial system unavoidably prone to failure from time to time and we are merely retreating into a false sense of complacency while waiting for the next disaster? If there is hope, what can we do better? How do innovations in the field of financial technology (FinTech) affect the financial system and what changes, if any, in legal/regulatory approaches do they warrant? How does financial regulatory knowledge benefit lawyers?
This inherently interdisciplinary course will go after these questions drawing on a variety of disciplines, including economics, law, and political science. Students will first explore key theoretical and practical issues widely regarded as central to the study of regulation. Among other things, the course will analyse the concept of and rationales for regulation, the factors determining the quality, success, and failure of regulation, various regulatory theories and strategies, and challenges around enforcement, evaluation, and influencing of regulatory policies. Armed with these insights, we will then turn our attention to financial regulation in particular. The course will introduce the concept and functioning of financial systems and guide students through the goals, strategies, and limits of financial regulation. It will also familiarise students with the overall financial regulatory landscape discussing the respective merits and shortcomings of prevalent financial regulatory architectures, and the role and modus operandi of the main actors. We will also explore key hard and soft law instruments that form the backbone of sector-specific regulation. Moreover, since FinTech is increasingly revolutionising the financial sector, the course will also contemplate selected novel technologies and their respective impact on the delivery of financial services and the financial systems as a whole.
Due to its global and holistic focus, as well as interdisciplinary nature, this course will be of interest for law, economics, and finance students who wish to purse a career in public policy and regulation, seek employment with major financial institutions, wish to practice as financial lawyers, or contemplate an academic career in financial regulation or a related legal or economics field.

Learning Outcomes

  • On successful completion of this course, students will have:

  • An understanding  of the concept and overall functioning of regulation in general and financial regulation in particular both in the national and global context;
  • Acquired capacity to identify and apply different regulatory concepts and theories to assess and critically evaluate the core characteristics, institutional properties, and overall quality of a given regulatory regime- be it within or outside the realm of financial regulation- as well as to compare different regimes from an interdisciplinary perspective;
  • The capacity to perform independent research in the area of domestic and international financial regulation by virtue of familiarity with a wide spectrum of interdisciplinary sources, including complex and technical pieces of financial regulatory standards from different legal systems;
  • Developed valuable analytical and research skills across law and economics, conveying them the necessary expertise for a career both in public policy and regulation and in the private sector in any policy domain featuring a high level of technical regulation;
  • Developed a general awareness towards various political and cultural preferences and paths dependencies, and the resulting complexities of coordinating between different regions, nations, ethnicities, and interest groups when developing regulatory policy;
  • Sound skills in (academic) writing and presentation, and the capacity to work independently.

Co-requisites

Course Coordinator

For further information see School of Law Head of Department

Indicative Fees

Domestic fee $831.00

International fee $4,200.00

* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.

For further information see School of Law.

All LAWS357 Occurrences

  • LAWS357-21S2 (C) Semester Two 2021 - Not Offered