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Level 5: Financial Services Law
Introduction
This module critically examines the legal environment that the financial services industry operates within, and establishes the link between theory and practice. It provides a sound knowledge base for financial services practitioners, as it identifies laws and regulations governing financial services organisations.
Module Description
This module aims to develop a student’s understanding of the legal environment that the financial services industry operates within and to understand the most important aspects and rules.
Module Content
The systematic de-skilling of many jobs within the financial services industry has led many senior managers to question the validity of strategies that frequently lead to service failures arising from a lack of basic knowledge of the industry in which practitioners operate. Consequently there has been a rise in the number of law, regulation and best practice training courses on offer which benefit enormously from the support of quality academic programmes which relate the knowledge gained to the current operating environment. This module is designed to make the link between theory and practice and provide a sound basis for financial services practitioners to build a solid and relevant knowledge base. It places law and regulation within the context of the current operating environment and focuses on the main aspects relevant to individual service providers and relationship managers in banks, insurance companies, trusts and other financial services organisations.
- Macro and micro views of the business environment, its competitiveness and possible future directions
- The sources of law relative to financial services and financial services organisations including English, European and other sources
- The legislating, regulation and rule making bodies relevant to UK financial services organisations and individuals
- The main aspects of law relating to contract, tort and trusts
- Introduction to law relating to the financial services organisation and its customers and clients including distinctions between different types of customer, set off, appropriation, the Banking Code and the law covering secrecy
- Money laundering and other financial crime
- Payments systems and the law including cheques, paper and electronic systems
- Insolvency and its relevance to financial services organisations including transactions at undervalue and aspects of corporate insolvency
- Introduction to security / collateral for advances including the major types such as land, life assurance policies, shares and other financial instruments and guarantees
- Essential aspects of financial services provider documentation, contractual arrangements and other agreements between financial services organisations and their customers
