The Finance and Financial Law MSc is designed to integrate learning in financial theory, markets and institutions, combined with legal study in complementary and specialist areas of financial law. You will gain a deeper understanding of the legal issues and an ability to apply knowledge and skills in professional capacities in a variety of roles in the global financial services industry.
This course is delivered by an experienced inter-faculty teaching team drawn from the Westminster Business School and the Westminster Law School.
The course has an international dimension - you will study in the heart of the capital at our Marylebone campus minutes away from the major global financial and legal centres of the world.
Applicants should normally hold a first degree from a recognised institution (minimum Lower Second Class Honours or international equivalent) and demonstrate interest and motivation in the subject area.
Alternative professional qualifications with at least three years’ relevant professional experience will also be considered. Directly relevant degree disciplines include business studies, law, economics, management, and operations research. However students with qualifications in other disciplines such as engineering, environmental sciences, geography, the humanities and languages are also encouraged to apply.
If English is not your first language, you will need an IELTS score of 6.5, with a minimum score of 6 in each element.
Financial Markets and Institutions
This module offers detailed coverage and analysis of global financial markets and institutions. Theory delivered in class is underpinned by real-life examples. Students will gain hands-on training and exposure to the Bloomberg system in our Financial Markets Suite.
Financial Services Regulation, Risk and Law
In this module you will learn about the contemporary legal issues that pervade the financial services markets in the UK, EU and Internationally. Topics include the creation and sale of financial products, regulatory supervision of financial services, regulatory compliance and consumer and investor protection. We explore the practical impact of policy and regulation using real and fictional case studies.
This module evaluates the role and function of domestic and global banks and their structure and operations. This is accompanied by a thorough examination of the financial risks that banks are exposed to, and the various ways to manage them.
Legal Aspects of Financial Law
The aim of this module is to familiarise students with the legal aspects of corporate finance. The module covers the main areas of financial law including English contract and company law along with agency issues. Whilst the focus is on English law because it so often underpins the law and practice in this field across many jurisdictions, teaching is from a comparative perspective and thus you will learn about the EU, USA and the Middle East, and other emerging markets too. Topics you will study include: capital structure, legal capital and bond markets, financial assistance, takeovers and mergers and corporate control.
An 8–10,000-word dissertation in the area of financial law, regulation or compliance.
Regulatory Risk Management
This module focuses on the management of regulatory risk and covers the detection, investigation and prosecution of financial crime in a business, financial services and commercial context given the global financial crisis. We also explore cybercrime and how the risks it poses to the financial services industry are evaluated and managed and the development of solutions (security) that seek to detect, mitigate and prevent cyber-attacks as well as their prosecution. Topics include the nature and extent of information security, cybercrime and financial crime in the financial services industry, the legislative environment, fraud and anti-money laundering.
Research Methods in Finance and Law
This module aims to develop your knowledge and competence of the research process, and the application of research methods in the area of finance and financial law.
You can choose a total of two option modules. Choose one or two from the following list; one may be chosen from anywhere within the University, subject to the Course Leader’s approval.
Banking Risk and Operations
This module provides you with an understanding of banking risks and operations. This includes business lines, investment banking services, operational risk, credit risk, interest rate risk management, asset liability management, capital allocation and ethical issues in banking.
It will provide a level of conceptual understanding that will allow you to critically evaluate research and methodologies and alternative approaches in banking risk and operations.
Compliance and Law in Banking and Insurance
This module offers a detailed examination of the law, legal principles, regulation, compliance and supervision that applies to domestic and international banks and insurance companies. The module also focuses on relevant reforms to the banking and insurance industries.
Contemporary International Financial Management
The study is grounded in the case study method and provides the basic numerical toolkit required to analyse a range of listed companies that are pursuing value-based growth strategies. Thus, students will be able to apply a range of equity valuation methods to contemporary stocks, including those companies where growth is focused on mergers, acquisitions and restructuring events.
Corporate Governance and Business Ethics
This module examines the theoretical and practical issues involved in the direction and control of companies, which operate in the UK and internationally. It begins by considering the theories upon which corporate governance and corporate social responsibility models are based, particularly agency theory, transaction cost economics, and stakeholder theory. It then reviews some of the most spectacular failures of governance mechanisms in recent years that led to the development of codes of best practice in different national settings. Subsequent sessions examine ethical issues and corporate governance, social responsibility, environmental sustainability, and corporate citizenship.
Derivatives & Structured Finance: Law & Practice
This module offers a detailed examination of the law and practice relating to structuring, documenting and executing structured derivative products, capital markets, and finance transactions; and in particular, the management of legal risk associated with the same.
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