LAW7323

International banking and finance: law and practice ( 6 points, SCA Band 3, 0.125 EFTSL)

Leader:

Offered:
City Second semester 2006 (On-campus)

Synopsis: This unit examines the development, operation, and regulation of contemporary international financial system and markets. It also examines the transactions that are conducted within those financial markets, how the transactions are structured, the potential legal problems and how they can be overcome or managed. The major national markets of the United States, Europe, Australia and other countries will be considered, as will the important areas of international financial regulation and policy concerning infrastructure, including capital adequacy, clearance and settlement, foreign exchange and payment systems.

Objectives: On completion of this unit, students should: 1. have an understanding of the principal financial markets of the world and their interrelation one with another; 2. have an understanding of the historical development of those markets, and inherent weaknesses; 3. have an understanding of the various views, including economic theories, concerning the rationales for and objectives of regulating activities of those markets; 4. understand the legal problems arising from international and national financial regulation; 5. have an understanding of the regulatory options facing the international financial regulation system as a system, and emerging markets nations individually; 6. be able to critically analyse and evaluate the operations of, and consequences of the activities in international financial markets; 7. be familiar with the international agreements, regimes and institutions that influence and regulate international financial transactions; 8. understand the main issues that should be addressed when negotiating a contract for the provision of international financial accommodation; 9. have an understanding of the national and international legal structures and principles dealing with, and governing, international financial instruments; 10. understand the main types of structures used in international financial instruments; 11. have an appreciation of the unresolved legal issues in international financial transactions, and the range of potential solutions to them.

Assessment: Written research assignment of approximately 3750 words (50%) Take-home exam of approximately 3750 words (50%)

Contact Hours: 24 hrs of seminars/semester

Prerequisites: There are no specific prerequisites or co-requisites, but a sound knowledge of commercial law of at least one jurisdiction is desirable.

Prohibitions: Students of this unit are prohibited from taking LAW4188 and vice versa.