| CODE | CML5001 | ||||||
| TITLE | Financial Services Legislation | ||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||
| MQF LEVEL | Not Applicable | ||||||
| ECTS CREDITS | 2 | ||||||
| DEPARTMENT | Commercial Law | ||||||
| DESCRIPTION | Learning Outcomes: - By the end of this study unit students will have become familiar with the basic concepts and structures of financial services concepts and structures of financial services law which can help them pursue studies further at Masters Level. - It will enable students to place financial services legislation within the context of other legislation and to appreciate this new fast developing area of law and a practical understanding of its peculiar concepts, remedies and structures. - It may come as a first vital step for students interested in pursuing a career in the financial services industry. This study-unit is divided into two parts. The first part shall incorporate an extensive overview of the principles and techniques involved in the regulation of financial services generally and in Malta. It shall investigate the various structures and remedies set out in the applicable legislation for the protection of the investor. The two laws primarily relevant for this part of the study-unit are the Malta Financial Services Authority Act and the Investment Services Act. The following issues and questions shall be covered: 1. What are financial services and why are they regulated? 2. The concept of regulation and the objectives of financial services legislation 3. Regulatory agencies in Malta: their role and functions 4. Investor protection and consumer protection 5. Justification for protecting investors, and principles and techniques of investor protection 6. Developments in the regulation of financial services 1994 - 2007 7. The role, functions and structure of the Malta Financial Services Authority 8. The concept of a single regulator, and the relative advantages and disadvantages 9. The International Dimension: a. Regulatory arrangements in a number of selected countries b. MoU’s and exchange of information and collaboration between regulators c. The EU - the impact of directives, the single passport and the broad legal framework d. The WTO - basic principles and the liberalization process for financial services providers The second part of the study-unit deals primarily with the regulation of the financial markets. An overview of the Financial Markets Act will be provided. The listing process will be dealt with in general together with the role and functions of the Listing Authority. The student will be introduced to prevention of Market Abuse legislation as well as the prevention of Money Laundering legislation. Reading List: An Introduction to Maltese Financial Services Law, 2009, Allied Publications Law Theses: 1. The Regulation of Investment Services – A comparative study; 1997; Roderick Zammit Pace 2. Review of the Powers and Functions of the Regulatory Authorities in the Financial Services Sector; 1997;Vanessa Grech 3. The Law of Investor Protection with Particular Reference to Maltese Law; 1999; Omar Grech 4. The Protection of the Financial Services Consumer under Financial Services and Consumer Legislation; 2003; Joseph Bugeja 5. Aspects of Financial Services Legislation in the light of Administrative Law and Human Rights; 2003; Danielle Mallia 6. International Aspects of Maltese Financial Services Legislation; 2005; Gabriella V Zammit |
||||||
| STUDY-UNIT TYPE | Lecture | ||||||
| METHOD OF ASSESSMENT |
|
||||||
| LECTURER/S | David Fabri (Co-ord.) Arthur Galea Salomone |
||||||
|
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
|||||||