Financial markets, governance and regulation

This course analyses the evolving regulatory framework for banks, investment banks, investment funds and other intermediaries in the financial markets from a practionner’s perspective.

Financial markets are highly regulated and a concrete understanding of the regulatory environment is necessary for future decision makers in the financial industry. Most decisions will integrate a legal dimension, whether in transactions, in management or in strategic planning.

To introduce the subject, a transversal view will be adopted to describe how the financial markets operate in practice, the key financial products and the interaction between the main players. 

The course will also cover the transformations the industry is facing due to factors such as regional policy divergence, industry consolidation, ecological transition, complexity of products, technology/AI, governance issues and new type of competition. These trends affect the regulatory environment and are influenced by the regulatory environment.

The approach is practical and will contain real-life examples. This course can be taken as a complement to other specialized courses on financial institutions or financial products.
 

Part I Introduction to financial markets

Chapter 1 Role of financial markets
Chapter 2 Financial intermediation
Chapter 3 Facts about financial markets to remember at this stage

Part II Overview of regulation in the financial markets

Chapter 1 Scope: authorization, supervision and regulation
Chapter 2 Typology of risks
Chapter 3 Key areas of regulation in the financial markets
Chapter 4 Regulators in the European Union and the United States

Part III Selected trends affecting financial markets and the regulatory environment

Chapter 1 Interactions between business and regulation in practice
Chapter 2 Lessons from recent crises: from capital requirement to new business model
Chapter 3 Banks, a tool for economic policy by governments and central banks
Chapter 4 Free movement of financial services and the European Banking Union: a success
Chapter 5 Complexity of financial products
Chapter 6 Globalisation then regionalisation of economic activities: regionalisation of finance to support local economies
Chapter 7 Product diversification and consolidation in the financial industry: in search of profitability
Chapter 8 Desintermediation of banks and private credit: new type of risks emerges
Chapter 9 Impact of AI and technology: a revolution for banks
Chapter 10 Ecological transition and the financial markets: different paths emerge US/Europe
Chapter 11 Emergence of cryptocurrencies
Chapter 12 Banks, a tool against money laundering and illicit activities
Chapter 13 Governance in the financial markets
 

Part IV Financial instruments and market infrastructure

Chapter 1 Securities
Chapter 2 Derivatives
Chapter 3 Holding and trading financial instruments

Part V The main financial intermediaries

Chapter 1 Banks
Chapter 2 Investment Banks
Chapter 3 Investment Funds

• understand the key financial products and the activities of financial institutions (mainly banks, investment banks and investment funds)
• link the workings of the financial markets in practice and the regulatory environment
• have a holistic view of the trends which are shaping the financial markets and the regulatory environment

The course will be delivered in 6 four-hours lessons (24 hours) and is considered as demanding by students of previous years

All classes are given in English and attendance is compulsory

Guests with practical experience will be invited to provide expert input

Slides will be posted in advance for students to read beforehand. The exam will cover the content of the slides, the lectures and the presentations of external speakers. Up to 20 percent of the final note will be based on class attendance and active participation.

Support(s) de cours

• Université virtuelle

Campus

Autre campus

Méthode(s) d'évaluation

• Autre

Autre

Langue(s) d'évaluation

• anglais