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QLLM374 Law and Ethics in Finance (Sem 1)

Module description

The module in Law and Ethics in Banking and Finance considers the ways in which unethical behaviour takes place in financial markets and how the law addresses it.

The financial crisis and the most recent financial scandals have brought about the need to change the way financial firms behave to take into account both the existence of a so called social licence to operate and the negative repercussions on the stability of the system in case of misbehaviour. This has shifted the pendulum towards a greater regulatory and supervisory attention to ethical conduct and culture in banking and finance, with many attempts to somehow regulate ethics.

The institutional framework within which financial firms operate has changed too: conduct supervision has been separated by prudential supervision and new self-regulatory bodies, such as the Banking Standards Board and the Fair and Effective Markets board have been introduced.

The module will critically assess the current regulatory and institutional framework, will consider to what extent law already fosters ethical behaviour and will analyse the role of self-regulatory bodies in filling the gap left by regulation.

Prerequisites

None

Applicable Groupings

Mode of Assessment

7,500 word course essay

Credits

22.5 credits

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