module specification

This module focuses on the more complex principles of English Law and their application to the Banking and Finance industries. It encompasses the importance of following the correct legal procedures relating to the more complex areas of taking security from corporations and individuals and the legal consequences of failing to follow them correctly.  It also analyses the area of Insolvency, both individual and corporate and the bank’s role in this process. The various methods of payments, cheques, debit cards etc are also examined and the protections the law affords both the bank and the customer in each case. Further, it examines international aspects of financial law such as Jurisdiction and Sovereignty.

The module aims to provide students with:

1. A critical understanding of the theoretical and practical aspects of Advances Financial Law.
2. The ability to understand and analyse legal opinion and use it to inform clients regarding their decisions.
3. An in-depth knowledge of the importance of the more important forms of security taken by banks and the consequences of failing to properly do so in relation to individuals, partnerships and companies.
4. The crucial role of Insolvency proceedings.
5. The area of International banking by looking at the rather more complex areas of Conflicts of Law, Sovereign Immunity and Jurisdiction.
6. Greater self-awareness, and confidence in the use of analytical and communication skills.
7. Opportunities to improve quantitative, written, critical and analytical skills required for employment in the Banking and Finance industry.

Corporate Securities; how banks take and realise corporate securities
Individual securities; how banks take Guarantees, the benefits and legal problems that are often associated with these.
Charges over book debts; reasons for banks taking these as security, recent legal judgments affecting these.
Cheques and electronic payments Systems; the legal position relating to items used for transferring funds, benefits and detriments of each of the various types of payment.
Land as security; a popular type of security, module will examine legal problems of taking homes as security.
Insolvency; both individual and corporate insolvency are investigated.
Liens, appropriation, combination of accounts; three separate legal abilities often used together by banks to ensure they collect money.
Conflicts of law; a complex area which arises when there is uncertainty over which country’s law should apply to a contract.
Sovereign Immunity; the benefits and detriments of banks lending money to states.
Jurisdiction; how to establish the law that is to govern the contract and the consequences of not doing so.
Approaches taken to the law of uberrima fides and insurance warranties in other common law and European legal systems.
Proposed and executed reforms of the English law of insurance including legislation, drafted or enacted

Lectures, seminars, group presentations.
Lectures:  1 ½  hours  per week supported by directed reading
Workshops: 1 ½  hour per week;  workshops will require students to prepare material in advance

Group Presentations will also require students to prepare in advance.

The module is offered over a 30 week period. Formal lectures of two hours will take place every week.
These are be supported by one-hour seminars and practical classes each week. Seminars typically
provide a forum for discussion of class exercises based on either legal theory, case studies or the practical application of topics explored in the lecture.

A variety of teaching tools will be used including presentations, web material, videos, group discussion, quizzes and online discussion.

Personal Development Planning (PDP)
Transferable skills developed in the module such as critical and analytical skills etc are relevant to Personal Development Planning (PDP), and students are reminded about the importance of maintaining their PDP,

Upon successful completion of this module, students should be able to:

1. Critically analyse and apply the main principles and of English Law to the Banking and Finance industries.
2. Analyse, evaluate and apply international legal reasoning to Banking and Finance environments.
3. Explain the importance of the changing nature of international events and their effect upon these legal relationships in the Banking and Finance industries.
4. Discuss proposals for the reform of insurance law and international comparative approaches to insurance law
5.  Demonstrate increased generic skills such as self-awareness and greater confidence in the use of analytical and communication skills.
6. Demonstrate the quantitative, written, critical and analytical skills required for employment in the Banking and Finance industry.

1.  Diagnostic and formative assessment will take place on a weekly basis in seminars to develop theoretical, analytical and oral and written communication skills.
2.  Summative and formative assessment will take place with the submission in week 8 of coursework in the form of an essay and the length of the essay should be between 1800 and 2000 words.  This length includes footnotes, but excludes the bibliography/end-references and any appendices. 
3.  Formative and summative assessment will take place with presentations in weeks 12-14 on a stipulated topic.  The presentations should be 20 minutes in duration with approximately 5 minutes allocated for each individual student, and will take place during the seminar hours.
4.  Summative assessment will take place between weeks 31 and 33 with a 2-hour unseen written examination.  The examination paper will contain six questions of which students should answer three. All questions will be worth equal marks.

Summary
Two-hour unseen 2 hour examination: 50%
Assignment 2000 words:40%
Group  20 minute Presentation: 10%

Proctor C., (2010), The Law and Practice of International banking. Oxford University Press
Roberts G., (1997), Law Relating to International Banking. Woodhead Publishing
Roberts G., (2011), Law Relating to Financial Services., Universal Publishers
Ellinger E. P., Lomnicka E. and Hooley R.,(2005), Ellinger’s Modern Banking Law., 4th Ed., OUP
Birds J. (2010),  Modern Insurance Law., 8th Ed., Sweet & Maxwell
Clarke M., (2005) Policies and Perceptions of Insurance Law in the Twenty-First Century., OUP.

Websites
Bank of England http://www.bankofengland.co.uk/
Financial Services Authority: http://www.fsa.gov.uk
Financial Stability Board http://www.financialstabilityboard.org