International Finance Law LAW5041
- Academic Session: 2022-23
- School: School of Law
- Credits: 20
- Level: Level 5 (SCQF level 11)
- Typically Offered: Semester 1
- Available to Visiting Students: No
- Available to Erasmus Students: No
International Finance Law examines the principal markets and main professional documentation used in the international finance and capital markets. The structure and operation of all the core markets are explained and the nature of the transactions carried out studied from a legal perspective. The content of the specific contracts and documents used in legal practice are examined in further detail. This is essentially a private law and deal or transaction course although regulatory issues are referred to where relevant.
10 x 2 hour seminars in semester 1.
Requirements of Entry
The course is open to all LLM students subject to the requirements of the LLM Programme on which a student is enrolled.
The course is assessed by an essay of 1500 words (25%) and a 2 hour final examination (75%).
Main Assessment In: December
The course is designed to provide students with a detailed knowledge of International Finance Markets which are among the largest markets in the world. It focuses on the distinct features of the markets and the legal nature of the products created and traded on them. The structure and operation of the international financial system is explained and the principal markets involved. A significant aspect of the course is concerned with the role of private market documentation in creating a standardised and harmonised legal foundation for the operation of these markets, in particular, on a cross-border and global basis. The course examines the structure and operation of the main markets concerned including the Euro syndicated Loan and Bond markets and a shorter duration Euronote and Commercial Paper markets. It also examines such other specialist areas as Project Finance, Securitisation, Structured Finance and Financial Derivatives.
Intended Learning Outcomes of Course
By the end of the course, students should be able to demonstrate knowledge of:
1. the general legal framework and mechanics of International Finance Markets;
2. the principal financial instruments and products created and traded on those markets;
3. the importance and content of standard market documentation in international finance and the role of the principal trading associations in each market;
4. the structure and operation of the Euro Dollar markets and other special markets such as Project Finance, Securitisation, Structured Finance and Financial Derivatives;
5. any current issues and proposals for reform in this area.
Minimum Requirement for Award of Credits
Students must submit at least 75% by weight of the components (including examinations) of the course summative assessment.