Financial Services: Law, Regulation and Practice

Module summary

Module code: LAW1074
Level: 6
Credits: 30
School: Liberal Arts and Sciences
Department: Law and Criminology
Module Coordinator(s): Jing Bian



The module will consider aspects of the law arising in the context of financial services provision as seen from the perspective of both the provider and the consumer. The module aims to alert students to the strict regulatory regime that now governs the industry, together with the enhanced enforcement powers that complement that regime. Students will also be made aware of the strict requirements surrounding the offer of securities to the public, and will build on their substantive knowledge of criminal and contract law when tackling issues of ‘white-collar’ crime.

In addition, School of Law has been approved as an Accredited Training Partner by the Chartered Institute for Securities and Investment (CISI). Elements of the CISI course are incorporated into this module. This will help to enhance student employability in the Financial Services sector

Learning outcomes

On successful completion of this module a student will be able to:
1 Understand the relevance of financial services law in the legal and economic system in the UK
2 Understand and use legal materials from a variety of sources in relation to financial services law
3 Understand the fundamental legal principles behind the regulation of financial services provision and how these are applied in a practical context
4 Demonstrate a knowledge and understanding of the substantive principles of the law relating to both civil and criminal aspects of financial services provision as applied in a practical context
5 Solve complex problems through legal techniques linked to a practical context
6 Present coherent and concise arguments related to financial services law

Indicative content

Schedule of Learning Activities
Term 1
Week 1
Introduction to Financial Services: Law, Regulation and Practice
Week 2
Nature of Banking and Regulation
Week 3 Bank-Customer Customer Relationship
Week 4 Duty of Confidentiality
Week 5 Legal Nature of Money
Week 6 Catch up week
Week 7 Law & Payment and Settlement Systems

Week 8 Regulation of Securities Market
Week 9 Prevention and Control of Financial Crimes 1:
Money Laundering, Terrorist Financing
Week 10 Prevention and Control of Financial Crimes 2:
Bribery, Corruption, Fraud, and Market Abuse
Week 11 Revision/ Essay Guidance
Week 12 Individual Question Time

Term 2
Week 1
Regulating Information Disclosure
Week 2
Intermediaries: Ethics, Integrity and Fairness
Week 3 Regulating the Bond Market
Week 4 Law & Derivatives and Securitisation
Week 5 Financial Innovation and Regulation
Week 6 Compliance 1: Role, Function and Responsibilities
Week 7 Compliance 2: UK and International Practice
Week 8 Governance and Risk management in Financial Industry
Week 9 Crisis and Financial Stability
Week 10 Supervision and Enforcement of Financial Regulation
Week 11 Revision
Week 12 Individual Question Time

Teaching and learning activity

The module will be taught through a combination of lectures and student-centred seminars, the latter being used to reinforce the lectures, to provide a forum for more detailed examination of the issues raised and for problem-solving activities. Students will be set different assignments (seminar presentation, course work, and exam) requiring use of all legal resources, including electronic databases.

In seminars, students will undertake problem-solving, contextual and research-based exercise and in-depth analysis. Students will need to prepare at their self-study time for the given questions or tasks. The questions/tasks for the seminar will be uploaded on Moodle for the relevant week. Therefore, each student will have time to prepare them. Students are required to do presentations on these questions.


Exam: 40% weighting, 40% pass mark.
Learning Outcomes: 1 - 6.
Outline Details: Students are required to answer 2 questions. Length: 1.5 hour plus ¼ hour reading time.

Coursework: 40% weighting, 40% pass mark.
Learning Outcomes: 1 - 6.
Word Length: 3000 words.
Outline Details: The assessment will be: a problem-solving question or an essay question.

Student Individual Presentation: 20% weighting, 40% pass mark.
Learning Outcomes: 1 - 6.
Outline Details: Students will make presentations in seminars based on given questions.

Formative Assessment: Unmarked seminar questions and discussion (problem solving questions, essay questions, or selected multiple-choice questions on relevant topics).