This course provides an in-depth analysis of the regulatory frameworks of one of the most important parts of the financial system: the banking system. The analysis of these regulatory frameworks will be grounded in initiatives developed at the international level that aim at coordinating financial regulation in different jurisdictions. These international initiatives will serve as a roadmap to explore the specific regulatory frameworks in the U.K. and the E.U. In certain areas, the course may also make reference to the regulatory frameworks in other jurisdictions/regions, mainly the U.S. In this course, students will examine these regulatory frameworks with a critical perspective, informed by critical reflections on the purpose and function of financial regulation, and by considerations of political economy. Such a critical analysis will be particularly prominent in the examination of recent developments in finance, such as the rise of fintech and the growing appetite for sustainable finance.

10 x 2 hour seminars

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Coursework (30%): a 1,500-word policy brief on a topic that is relevant to any of the aspects covered in the course.

Exam (70%): Students will be asked to resolve two out of three problem questions that simulate regulatory problems that practitioners in the field are likely to encounter in a "seen-24 hours to submit" exam. Students will have a 24-hour window to submit their answers and the exam will be released to students 24 hours before the start of the 24-hour submission window.

The course aims to provide students with an in-depth understanding of key aspects of banking regulation. It also aims at fostering students' critical evaluation of the goals and effectiveness of banking regulation. Lastly, the course aims at raising students' awareness about the challenges and opportunities that recent developments in financial systems, such as the advent of financial technology (fintech) and the growth of sustainable finance, pose for existing regulatory frameworks.

By the end of this course, students will be able to:

■ Critically evaluate the functions and styles of financial regulation

■ Explain the policy rationales behind the regulation banking and shadow banking

■ Describe the substantive regulation of key aspects of banking in the EU and the UK

■ Describe the regulatory and supervisory architecture in the EU and the UK

■ Reflect on the regulatory opportunities and challenges presented by the raise of financial technology (fintech)

■ Reflect on the regulatory opportunities and challenges presented by the growing appetite for sustainable finance

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.