ICM295-Topics in Financial Regulation

Module Provider: ICMA Centre
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded: MMM054 Cases in Financial Management and Control
Current from: 2022/3

Module Convenor: Ms Deepa Govindarajan Driver
Email: d.govindarajan@icmacentre.ac.uk

Type of module:

Summary module description:

This module provides an overview of the purpose and operation of financial regulation, and the consequences of financial sector reform for different markets and jurisdictions, including that of the students’ home countries. 

Aims:

This module aims to provide an overview of the purpose and practice of financial regulation, and the consequences of financial sector reform for different markets and jurisdictions, including that of the students’ home countries. 

Assessable learning outcomes:

Through engaging effectively with this module, it is expected that students will be able to:

• Recognise what is entailed by the term financial regulation and how, when, where and why financial regulation is unique and important


• Demonstrate knowledge of the conceptual basis of, and the various theoretical approaches to regulation


• Explain and contextualise the rationales for regulation  – both more generally, and also specifically in a financial services context and relate these rationales to regulatory structures, aims and outcomes in practice


• Discuss the regulatory perimeter and its implications including for macro-prudential, micro-prudential and conduct regulation.• Critically discuss the nature and impact of financialization


• Explain the different tools and techniques in prudential and conduct supervision and understand the challenges and benef its of their contextual application


• Demonstrate awareness of the precepts underlying key international prudential and conduct regulatory requirements as well as requirements in the areas of governance and culture


• Articulate clearly the implications of financial crises and failures


• Demonstrate a meaningful understanding of topics such as regulatory capture, revolving doors, lobbying and other aspects pertinent to regulatory remit and conduct


• Engage with topics such as regulatory arbitrage and other mechanisms that undermine or erode the spirit of regulation and be able to apply these concepts in a practical context


• Have a high-level appreciation of international perspectives on financial regulation


• Recognise and articulate both in writing and verbally the broader stakeholder implications and regulatory nuances to financialization and to financial intermediary or regulatory failures

Additional outcomes:

Review academic materials and critically examine a range of concepts related to the underlying subject matter verbally and in writing, both individually or as part of a group so as to develop and demonstrate understanding of the subject area

Outline content:

Key topics of study are as follows:

• Conceptual basis and rationales for regulation and financial regulation


• Regulatory perimeter, regulatory structures and regulatory architecture


• Financialization


• Micro-prudential regulation: tools, techniques and key requirements


• Conduct regulation: tools, techniques and key requirements


• Macro-prudential regulation


• Governance and c ulture – implications for the real economy


• Crises and regulation


• Overview of international financial architecture


• The challenges to regulation 

Global context:

This 20-credit module is intended to prepare students for careers in law and regulation and for senior roles within the regulated financial services industry and in public services or statutory bodies. It is also valuable to those students preparing for roles in risk management, internal and external audit, and compliance

This module is an important optional module for students pursuing the MSc CMRC. It is also open to students across the ICMA Centre, Henley Business School and the Law School (subject to programme-level availability).

Brief description of teaching and learning methods:

Summative assessment- Examinations:

N/A

Summative assessment- Coursework and in-class tests:

The written assignments consists of one essay of approximately 3500 words submitted in the final fortnight of the summer term

Formative assessment methods:

Weekly written and verbal contributions to lectures and seminars as applicable. Reflective contributions based on homework or self-study

Penalties for late submission:

Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Assessment requirements for a pass:
50% weighted average mark

Reassessment arrangements:

Re-submission of assignment

Additional Costs (specified where applicable):

1) Required text books: £80 2) Specialist equipment or materials: 3) Specialist clothing, footwear or headgear: 4) Printing and binding: £10 5) Computers and devices with a particular specification: 6) Travel, accommodation and subsistence:

Last updated: 29 March 2022