MPP_PRFI Law and Finance

Faculty of Economics and Administration
Autumn 2018
Extent and Intensity
0/3/0. 5 credit(s). Type of Completion: zk (examination).
Teacher(s)
JUDr. Jindřiška Šedová, CSc. (seminar tutor)
Mgr. Ing. Filip Hampl (seminar tutor)
Guaranteed by
JUDr. Jindřiška Šedová, CSc.
Department of Law - Faculty of Economics and Administration
Contact Person: Lenka Hráčková
Supplier department: Department of Law - Faculty of Economics and Administration
Timetable of Seminar Groups
MPP_PRFI/01: Wed 10:00–11:50 VT202, F. Hampl, J. Šedová
MPP_PRFI/02: Wed 12:00–13:50 VT202, F. Hampl, J. Šedová
MPP_PRFI/04: Wed 8:00–9:50 VT202, F. Hampl, J. Šedová
Prerequisites
The course requires basic knowledge and skills in the areas of:
- theory of law (financial market regulation)
- company organization
- basics of private law (corporate law, regulation of contractual relations, consumer law)
- administrative procedure (general regulation of the administrative procedure and special regulation for administrative procedure - Czech National Bank, Czech Trade Inspection Authority, etc.)
- European law
This knowledge can be acquired in the following courses:
Introduction to Law, Corporate Economics, Business Law 1, Administrative Law and Administrative Process, and European Law.
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
The course is an introduction to the issues connected with the protection of consumers of financial services. It focuses on basic civil and public law rules that need to be respected by financial institutions in order to protect interests of their clients when providing financial services, especially in case of non-entrepreneurial individuals. Attention is also paid to possible ways of how to exercise legitimate claims of consumers of financial services.

The course comprises four topics.
The introductory part describes the strategy of EU consumer policy and consumer protection in the EU. It also defines the main terms connected with consumer protection.

The second part is concerned with public-law consumer protection in financial markets with special attention paid to the focus of the protection, institutions engaged in the protection system, consumer rights, rules of filing complaints and inducements, and sanctions.

The third part describes the specifics of consumer protection in the main segments of the financial market, with emphasis on explaining the rights of a client to be given information before signing a contract and on an ethical approach when financial services are provided.

The last part introduces rules of asserting and exacting claims of consumers in the financial market using private law – through civil proceedings, insolvency proceedings, and also through out-of-court settlement of the dispute, especially in arbitration, mediation and out-of-court execution.
Learning outcomes
After completing the course students will be able to:

• to orientate the legal framework for the protection of consumers of financial services and to recognize the differences in private or public law
. to clarify the basic theoretical basis of legal regulation of consumer protection on the Czech financial market
. to formulate the basic principles of legal responsibility in the field of consumer protection in individual segments of the financial market
. to make a competent decision to apply the legitimate claims resulting from the legal regulation of the protection of the weaker party in general and of the special consumer
. recognize the advantages or disadvantages of debt recovery by court or extrajudicial way.
Syllabus
  • Seminars:
  • 1. Introduction. EU consumer policy. Consumer and consumer protection (defining the term consumer, reasons for consumer protection, principles of consumer protection). Protection of consumers of financial services.
  • 2. Sources of consumer protection law (principles of consumer protection law pertaining to constitutional law, civil law, administrative law and criminal law).
  • 3. Tools of public and private law used in the protection of consumers of financial services. Public-law protection of consumers of financial services. Institutions engaged in the system of consumer protection in the Czech Republic (focus of protection, consumer rights, rules of filing complaints and inducements).
  • 4. Consumer protection in the area of provision of services in the financial market (bank deposits and savings services, payments, consumer contracts, consumer credit, building society services, private pension schemes, investment services, insurance).
  • 5. Ways of asserting and exacting private-law claims of consumers in the financial market. Creditor claim and its characteristics. Legal regime of a claim.
  • 6. Asserting and exacting claims in civil proceedings.
  • 7. Asserting and exacting claims of consumers of financial services in insolvency proceedings. Individual bankruptcy. Rights and obligations of a financial institution in the positions of a creditor or a debtor. Rights and obligations of a consumer in the position of a creditor or a debtor.
  • 8. Asserting and exacting claims of consumers of financial services in out-of-court settlements of disputes. Exacting claims of consumers of financial services in an arbitration.
  • 9. Asserting claims of consumers of financial services in a mediation. Advantages of a mediation and the role of the mediator in a mediation.
  • 10. Asserting claims of consumers of financial services in an out-of-court execution.
  • 11. SOLVIT as a tool of out-of-court exacting of claims that originated in the European Community internal market.
  • Students of this course use the services of the following web portal www.pravoesf.cz during the classes. This portal is an outcome of an Education for Competitiveness Operational Programme project called Innovation of law education within the study fields of Finance and Financial Managment at the Faculty of Economics and Administration, Masaryk University, project identification: CZ.1.07/2.2.00/15.0189.
  • Interatctive study materials were created for the purpose of education within the course Law and Finance. These materials can be found at the web portal pravoesf.econ.muni.cz. Law and Finance study materials are designated for self-study, which is considered as a subsitute for standard lectures, and for preparation for seminars, where you will solve practical tasks independently. Please, also pay attention to the study materials of the following courses: Introduction to Law, Business Law 1, Administrative Law and Administrative Process, and European Law. There are basic legal concepts explained in the above mentioned study materials. Knowledge of these concepts is assumed for understanding the issues of the Law and Finance course, which is conceived as a cross-section of several areas of law. Thanks to that you will better understand the wider context of the consumer protection in financial markets in the Czech Republic and also the risk connected with financial services.
  • In case of your interest in more detailed information, you can use the service of the legal information system (ASPI) accessible from the computer laboratories and the library of Faculty of Economics and Administration. In these cases, the access to the the ASPI system is enabled by clicking on the ASPI icon on the desktop of the computer. Since the autumn semester of 2013, any student of the Faculty of Economics and Administration can also use the possibility of remotely accessing the ASPI. In that case, the ASPI is accessible via the internet from a remote desktop. Detailed description of how to login is posted on the main website of the Faculty of Economics and Administration.
Literature
    required literature
  • Šedová, J. Studijní text “Právo a finance”. Terminálový server ESF MU (Návod na připojení na terminálový server je uveden zde: http://www.econ.muni.cz/studenti/cikt/navody-nastaveni/terminalovy-server-aspi nebo http://www.econ.muni.cz/t1736/.
    recommended literature
  • VACEK, Lukáš. Zákon o spotřebitelském úvěru: komentář. Praha: Wolters Kluver, 2015. 427 pp. ISBN 978-80-7478-776-8. info
  • VEČEŘA, Jiří. Ochrana spotřebitele v České republice a Evropské unii :(včetně úpravy podle nového občanského zákoníku 2014), právní stav k 1.1.2013. Vyd. 1. Praha: Leges, 2013. 268 s. ISBN 9788087576342.
  • Foltas, T. Studijní texty „Základy práva", "Správní proces“. ESF MU. Portál výuky právních předmětů ESF: Webová adresa: http://pravoesf.econ.muni.cz/. Informace o přístupových právech k webové aplikaci jsou zveřejněny v IS/Studijní materiály předmětu/Uč
Teaching methods
Seminars, solving case studies, workshops and lectures on selected current issues, in-term assessment tests.
Assessment methods
The course is finished with a written exam. To be allowed to take the exam, the students have to attend the seminars and receive positive assessments of the case studies or control questions they work on, positive results of the in-term assessment tests, and attend selected special lectures or workshops.

Caution:
"Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams (credit tests) will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the exam (credit test) by awarding grade "F" in the Information System, and the Dean will initiate disciplinary proceedings that may result in study termination."
Language of instruction
Czech
Further comments (probably available only in Czech)
The course is taught annually.
General note: Nezapisují si studenti, kteří absolvovali předmět PPPAFI.
The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2019, Autumn 2020.
  • Enrolment Statistics (Autumn 2018, recent)
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