Not available in 2020/21
LL4BF      Half Unit
International Financial Regulation

This information is for the 2020/21 session.

Teacher responsible

Philipp Paech


This course is available on the LLM (extended part-time), LLM (full-time), MPA in International Development, MPA in Public Policy and Management, MPA in Public and Economic Policy, MPA in Public and Social Policy, MPA in Social Impact, MSc in Accounting, Organisations and Institutions, MSc in Regulation, MSc in Risk and Finance and University of Pennsylvania Law School LLM Visiting Students. This course is not available as an outside option.

This course will be relevant to the following LLM specialisms: Banking Law and Financial Regulation, Corporate and Securities Law and International Business Law. This course is capped at 60 students.

Course content

This course focuses on the micro- and macro-prudential regulation of financial institutions and the financial system. It examines the prudential regulation of banks, bank resolution schemes, the regulation of shadow banking and other regulatory attempts to ensure financial stability, including with regard to novel, technology-induced types of financial services ('FinTech'). The focus will be on the regulation of national and international aspects of financial institutions and the financial system, rather than on private law and transactional aspects.

No previous knowledge of financial market regulation or background in economics is required for those wishing to follow this course. For non-lawyers, a willingness to engage in legal analysis will be necessary, although a legal background is not required.

The syllabus may include the following topics:

The Rational of International, EU and UK Regulatory Structures

Core concepts of Financial Regulation, pre- and post-Crisis

Financial Stability – Policy Issues, Principles and Global Standard Setters

Prudential Regulation of Banks – The Basel Accords

National and Cross-border Resolution of Failing Banks

Regulating Shadow Banks

Regulating Credit Rating Agencies

Regulating FinTech


20 hours of lectures and 5 hours of classes in the MT. 2 hours of lectures in the ST.

There will be 10 two-hour lectures, plus ‘follow-up’ classes if numbers exceed 30. Guest lecturers may also be invited to give seminars on their specialist areas. There will be a Reading Week in week 6. 

Formative coursework

All students are expected to produce one 2,000 word formative essay during the course. The course offers also a voluntary mock exam.

Indicative reading

A full reading list will be distributed during the course and essential materials will be made available to the students electronically where possible. In addition, the students will be invited to do independent reading. A good general introduction is J. Armour et al, Principles of Financial Regulation, OPU 2016


Exam (100%, duration: 2 hours, reading time: 15 minutes) in the summer exam period.

Important information in response to COVID-19

Please note that during 2020/21 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the situation of students in attendance on campus and those studying online during the early part of the academic year. For assessment, this may involve changes to mode of delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.

Key facts

Department: Law

Total students 2019/20: 57

Average class size 2019/20: 11

Controlled access 2019/20: Yes

Value: Half Unit

Guidelines for interpreting course guide information