PrF:MVV382K Public Financial Law - Course Information
MVV382K Public Financial Law
Faculty of LawAutumn 2023
- Extent and Intensity
- 0/1/0. 3 credit(s). Type of Completion: k (colloquium).
- Teacher(s)
- Ege Okakin Erbas, Ph.D. (seminar tutor), doc. JUDr. Tereza Kyselovská, Ph.D. (deputy)
doc. JUDr. Tereza Kyselovská, Ph.D. (seminar tutor) - Guaranteed by
- doc. JUDr. Tereza Kyselovská, Ph.D.
Faculty of Law
Contact Person: Mgr. Věra Redrupová, B.A.
Supplier department: Faculty of Law - Timetable of Seminar Groups
- MVV382K/01: Mon 2. 10. 18:00–19:40 041, Tue 3. 10. 18:00–19:40 041, Wed 4. 10. 18:00–19:40 041, Thu 5. 10. 16:00–17:40 041, 18:00–19:40 041
- Course Enrolment Limitations
- The course is only offered to the students of the study fields the course is directly associated with.
The capacity limit for the course is 30 student(s).
Current registration and enrolment status: enrolled: 17/30, only registered: 0/30 - fields of study / plans the course is directly associated with
- Civil Law (programme PrF, OBCP_) (2)
- Procedural Civil Law (programme PrF, OBCP_) (2)
- Comparative Constitutional Law (programme PrF, CCL_) (2)
- Comparative Corporate, Foundation and Trust Law (programme PrF, COCO_) (2)
- History of the Law and Roman Law (programme PrF, D-TPV4) (2)
- History of Law (programme PrF, DPRP_) (2)
- Financial Law and Financal Science (jednooborový) (programme PrF, FPFVA_)
- Financial Law and Financial Science (Eng.) (programme PrF, D-TPV4) (2)
- Financial Law and Financial Science (programme PrF, D-TPV4) (2)
- Financial Law and Financial Science (programme PrF, D-TPV4) (2)
- Financial Law and Financial Sciences (programme PrF, FPFV_) (2)
- Intellectual Property Law (programme PrF, INTPA_) (2)
- International Private Law (jednooborový) (programme PrF, MEPSA_)
- Law Information and Communication Technologies (programme PrF, ICTA_) (2)
- Legal theory and Public Affairs (programme PrF, LTPA_) (2)
- International and European Law (Eng.) (programme PrF, D-TPV4) (2)
- International and European Law (programme PrF, D-TPV4) (2)
- Private International Law (Eng.) (programme PrF, D-TPV4) (2)
- Private International Law (programme PrF, D-TPV4) (2)
- Private International Law (programme PrF, MEPS_) (2)
- International Law (programme PrF, MEEP_) (2)
- Multidisciplinary studies (programme CST, KOS)
- Multidisciplinary studies (programme PrF, KOS)
- Civil Law (programme PrF, D-TPV4) (2)
- Commercial Law (programme PrF, D-TPV4) (2)
- Commercial Law (programme PrF, OBPR_) (2)
- Labour Law (programme PrF, D-TPV4) (2)
- Law (programme PrF, PR_)
- European Law (programme PrF, MEEP_) (2)
- Law Information and Communication Technologies (Eng.) (programme PrF, D-TPV4) (2)
- Law Information and Communication Technologies (programme PrF, D-TPV4) (2)
- Law Information and Communication Technologies (programme PrF, ICT_) (2)
- Law (programme PrF, M-PPV)
- Environmental Law (programme PrF, SP_) (2)
- Roman Law (programme PrF, DPRP_) (2)
- Administrative and Environmental Law (programme PrF, D-TPV4) (2)
- Administrative Law (programme PrF, SP_) (2)
- Theory of Law (programme PrF, D-TPV4) (2)
- Theory of Law (programme PrF, TEPR_) (2)
- Criminal Law (programme PrF, D-TPV4) (2)
- Criminal Law (programme PrF, TRPR_) (2)
- Constitutional Law and Theory of State (programme PrF, D-TPV4) (2)
- Constitutional Law and Theory of State (kombinovaný) (programme PrF, USPS_) (2)
- Course objectives
- While financial law can be seen as a part of business law, setting standards for financial transactions which includes corporate finance and market finance, “public financial law” relates more specifically to the relationship between financial markets and public order. The term public includes all national and international public authorities in the financial field and the relationship between financial markets and public order is established through something called: financial regulation. In line with this point of origin, we will try to interpret state’s role in finance as regulator and overseer from a legal perspective along with the latest economic and financial developments and crises and to ponder on initial steps towards a sound financial regulation framework. First, by clarifying basic concepts related to financial system and financial regulation this course will describe public law instruments used by governments and international organizations (and European Union, to some extent) in fulfilling their functions in the financial field and determine the changes in the concepts, institutions and principles of constitutional law and administrative law. As public law scholarship can simply be put as a work of a balancing exercise between the risks associated with progression and the fundamental rights and freedoms of individuals we will see how the aims of this discipline, i.e. to protect parties participating in transactions, to maintain financial stability and to improve market efficiency, are achieved in practice.
- Learning outcomes
- At the end of the course, students should be able to:
- get a glimpse of the complex discipline of public financial and banking law and correlate the economic approach to public law;
- understand and explain the role of international institutions in the surveillance and regulation of financial markets;
- assess the legal components of the global financial system;
- establish major regulatory issues in international financial and banking law in view of new challenges such as climate change & sustainability;
- make distinction between bank and finance and capital market finance;
- work with information on European framework of financial regulation and supervision. - Syllabus
- 1. Overview: Financial System
- a. Concepts and categories of financial markets and capital markets
- b. Infrastructures of the financial system and credit rating agencies
- i. Payment systems
- ii. Central securities depositories
- iii. Securities settlement systems
- iv. Central counterparties
- v. Trade repositories
- vi. Credit rating agencies
- 2. Overview: Financial Regulation
- a. Why regulate finance? Market failures and externalities
- b. Main objectives of financial regulation
- i. Financial stability
- ii. Market efficiency
- iii. Transparency
- iv. Consumer protection
- c. Issues and new challenges
- i. Digital finance and cyber security
- ii. Climate change & sustainability
- iii. Financial inclusion
- 3. Regulation of International Finance
- a. Sources of international financial law: current international financial regulatory system and its origins
- b. Scope of international banking and financial services regulation: Capital and risk requirements, capital controls, WTO rules, IOSCO Principles
- c. Legal aspects of international financial institutions such as IMF, World Bank, Financial Stability Board, Basel Committee on Banking Supervision
- d. Enforcement mechanisms (or lack of) in international financial law and cross border cooperation
- 4. Financial Regulation and Supervision in EU
- a. Scope of financial regulation in EU
- b. European system of financial supervision and the Single Supervisory Mechanism
- c. Relevant regulatory frameworks: MiFID II, MiFIR, UCITS, AIFMD, EMIR, Benchmarks Regulation, Securitisation Regulation, Sustainable Corporate Governance Initiative etc.
- d. Financial crimes within the legal framework of Market Abuse and Anti-Money Laundering regimes
- 5. Examination of Selected Case Law and Summary
- Literature
- See Teacher's Information for full details.
- Teaching methods
- Series of lectures by the teacher.
Interactive seminars especially on “Issues and new challenges” topic. Students will be asked to prepare written and oral assignments individually and the written assignments will be assessed as essay. - Assessment methods
- Students will be asked to present a short-written essay.
- Language of instruction
- English
- Further comments (probably available only in Czech)
- Study Materials
The course is taught only once. - Teacher's information
- Selected Literature
De Haan, J., Oosterloo, S., Schoenmaker, D., (2020): Financial Markets and Institutions: A European Perspective, fourth edition, Cambridge University Press, Cambridge.
Armour, J. Awrey, D., Davies, P., Enriques, L., Gordon, J., Mayer, C. and J. Payne (2016): Principles of Financial Regulation, Oxford University Press, Oxford.
Lastra, R.M. (2015): International Financial and Monetary Law, second edition, Oxford University Press, Oxford.
Blair, W., Brent, R., Grant, T., (2017): Banks and Financial Crime: The International Law of Tainted Money, Oxford University Press, Oxford.
Further reading list and case-law will be provided to students before class starts.
- Enrolment Statistics (recent)
- Permalink: https://is.muni.cz/course/law/autumn2023/MVV382K