module specification

FE5006S - The Legal Environment (2021/22)

Module specification Module approved to run in 2021/22
Module status DELETED (This module is no longer running)
Module title The Legal Environment
Module level Intermediate (05)
Credit rating for module 15
School Guildhall School of Business and Law
Total study hours 150
5 hours Assessment Preparation / Delivery
105 hours Guided independent study
40 hours Scheduled learning & teaching activities
Assessment components
Type Weighting Qualifying mark Description
Unseen Examination 100%   Open unseen written examination - 2 hours
Running in 2021/22

(Please note that module timeslots are subject to change)
No instances running in the year

Module summary

The module provides the theoretical and practical framework for analysing and evaluating the legal environment within which finance operates.  It focuses on the legal and regulatory environment within which financial institutions are required to operate, and the principles of English Law as it applies to the banker-customer relationship.


The legal environment
Nature and sources of the law relating to banking and finance LO1
Elements of the law of contract
Nature and scope of the banker/customer relationship
The regulation of consumer credit
The law on data protection
The role of financial regulators such as the Prudential Regulation Authority and the Financial Conduct Authority

Balance of independent study and scheduled teaching activity

The balance of independent study and scheduled teaching activity within the module is indicated in the section below.

The Synergy suite is used to promote interactive learning. The virtual learning environment (Weblearn) that supports the module contains relevant learning and teaching materials such as lecture slides, seminar questions, case studies, guideline answers to case studies and seminar questions, past examination paper, assessment strategy, coursework brief, assessment and grading criteria, deadlines and feedback details.

Students are encouraged to reflect on their learning development through seminar participation, feed-forward and feedback sessions.

Learning outcomes

On successful completion of the module, students will be able to:

1. Demonstrate a critical awareness of the legal and regulatory environment within which financial institutions are required to operate

Assessment strategy

Diagnostic and formative assessment will take place on a weekly basis in seminars to develop understanding as well as theoretical, analytical, interpersonal and communication skills.

Summative assessment will take place between weeks 29 to 30 with a 2-hour seen written examination which will be focusing on knowledge-based skills,
research skills, problem-solving skills, analytical skills and written communication.



Core Texts
De Freitas, J. D. (2011) “Business Law” 8 Ed (Castlevale), Wildy & Son (Law Booksellers), Lincoln’s Inn Archway Carey Street, EC2
Roberts, G. and Keller, A. (2015) ‘Law Relating to Financial Services’ Global Professional Publishing, Cranbrook, Kent

Other Texts
Cranston, R. (2014) ‘Principles of Banking Law’ 3rd Ed, Oxford University Press, Oxford
Davies, H. and Green, D. (2013) ‘Global Financial Regulation: The Essential Guide’ John Wiley and Sons
Ellinger, E. P., Lomnicka, E. and Hare, C. V. M. (2011) ‘Ellinger's Modern Banking Law’ 5th Ed., Oxford University Press, Oxford.
Financial Conduct Authority (2017) ‘Consumer Credit sourcebook’ in Chapter 5 Responsible Lending Release 18 Jul 2017

Journal of Banking and Finance
The Journal of Commercial Lending
Journal of Financial Regulation and Compliance
Journal of International Banking Law

Professional Journals/Newspapers:
Financial Times
Financial World
The Banker

Bank for International Settlements:
The Financial Conduct Authority:
Bank of England / PRA:
HM Treasury:
Financial Conduct Authority:
Bank of England; Prudential Regulation Authority:

Electronic Databases:
Science Direct
Emerald Management eJournals