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Regular version of the site

Capital Market Regulation

2021/2022
Academic Year
ENG
Instruction in English
6
ECTS credits
Course type:
Elective course
When:
4 year, 1, 2 module

Course Syllabus

Abstract

While the course, we create and develop such students' knowledge and skills. At the same time, we take into account the need to develop both academic and practical skills on a balanced basis for students. So that in future they could choose between academic and practical careers in the field of law, and, perhaps, even combine them. The course is aimed at the interdisciplinary approach to Capital Market Regulation, digital economy and risk assessment of b2b- and b2c- relationships. Namely, the course addresses b2c-contracts between credit organizations, digital and smart contracts, enforcement of which is based on brand-new sophisticated technologies (blockchain, artificial intelligence etc.). During the course the comparative methodology will be applied, i.e. the students will analyze legal provisions of the Russian civil law, the EU law, the US federal law well as the core principles of the Islamic fiqh. Along with development of innovative technologies, consumers get access to the wide spectrum of digital products and services. However, security of digital financial services cannot be guaranteed. Therefore, financial regulations in force shall be taken into account in order to elaborate responsive legal framework, which could be efficiently applied to either b2b-, or b2c-relationships. Sophisticated and proficient approach to capital markets regulation shall instigate the diversity of secure and diversified business relationships. The course “Capital Market Regulation” will result in establishment of up-to-date data environment for the future qualified lawyers. The participants will take a comparative perspective of contemporary capital markets regulation in different countries. Applied business technologies will be covered under the FinTech- section of the course. The participants will take a glance at both risks and perspectives of applied digital business solutions and obtain their own points of view in the regard of on-going legal reform. In conditions of decentralization and shared economy qualified lawyers face up the request for risk assessment. Therefore, elaboration of non-biased expertise in the sphere of financial regulations is vital for deliberate evolvement of economic, political and legal processes. Number of places offered for the BA programs of the School of Law in Moscow Jurisprudence - 22 Jurisprudence. Private Law- 22 HSE branches -16 Selection criterion. Average cumulative score for 2.5 years of study, to which points are added for additional criteria: + 1.0 - victory / prize in any Moot Court / or in the contest of student academic papers / or publishing at least one scientific article in a journal certified in the VAK or Scopus system. + 0.2 - at least one scientific publication in a collection of scientific papers or in a non-VAK and non-Scopus certified academic journal. A total of 1.2 points will be added if both additional criteria are met simultaneously. Therefore the maximum possible personal student qualifying score is 10 +1.2 (additional criteria) = 11.2 The students must send the application for the course letter by two emails cmr2018.2019@gmail.com and cmr2018.2019@mail.ru simultaneously. The letter should include the name, surname, the student average cumulative score for 2.5 years of study and the points for additional criteria if applicable. Grading formula. Final Grade = 2.25*In-class discussions+ 0.2*Home-taken written essays + 0.1*Group presentations + 0.2*Mid-term in-class written exams + 2.75*Final home-taken written exam. All control elements are not subject to retake.
Learning Objectives

Learning Objectives

  • The course is aimed at creating a new information environment for training professionals focused on creating the right for the future. In particular, such professionals should: - be well aware of the established regulation on the capital market, in particular the activities of commercial banks, credit rating agencies, organizational and ideological aspects of the deposit insurance system, etc. - be ready to face the new technologies like blockchain on a daily basis, - have a clear understanding of the instruments of both Russian federal law, EU law, US federal law and international organizations legal acts relating to the regulation of capital market, such as the WTO, the World Bank, international payment systems standards etc., - understand the mechanism of the digital economy, including the costs of mastering new technologies by business, the order of interaction between business and the state when introducing innovations in the entrepreneurial activity, - be ready to operate with both conventional (western) and Islamic financial instruments, - discover ways in which theory and practice overlap for the benefit of business, the national economy, each individual and humanity as a whole, - learn relevant professional terminology in Russian and English, as well as academic writing standards.
Expected Learning Outcomes

Expected Learning Outcomes

  • be familiar with have a basic level of competence in data analysis, in particular, of mathematical statistics, regression analysis,
  • be ready to face the new technologies like blockchain on a daily basis,
  • be ready to operate with both conventional (western) and Islamic financial instruments,
  • be well aware of the established regulation on the capital market, in particular the activities of commercial banks, credit rating agencies, organizational and ideological aspects of the deposit insurance system, etc.
  • discover ways in which theory and practice overlap for the benefit of business, the national economy, each individual and humanity as a whole,
  • have a clear understanding of the instruments of both Russian federal law, EU law, US federal law and international organizations legal acts relating to the regulation of capital market, such as the WTO, the World Bank, international payment systems standards etc.,
  • learn relevant professional terminology in Russian and English, as well as academic writing standards.
  • understand the mechanism of the digital economy, including the costs of mastering new technologies by business, the order of interaction between business and the state when introducing innovations in the entrepreneurial activity,
Course Contents

Course Contents

  • WTO Regulation of Financial Services
  • Credit Ratings
  • Consumer credits
  • Islamic finance
  • Regulation of Payments
  • Credit reporting
  • Regulation of Insurance Contracts
  • Financial monitoring and compliance
  • FinTech & Smart contracts
  • Regulation of financial ombudsmen
  • International Financial Markets Cooperation (BRICS and EAEU) (optional, for excellent students only)
Assessment Elements

Assessment Elements

  • non-blocking Class attendance and Classroom discussions
  • non-blocking Group presentations
  • non-blocking Individual take-home essays
  • non-blocking Mid-term in-class exam
  • non-blocking Final take-home exam
Interim Assessment

Interim Assessment

  • 2021/2022 1st module
  • 2021/2022 2nd module
    0.2 * Class attendance and Classroom discussions + 0.4 * Final take-home exam + 0.1 * Group presentations + 0.2 * Individual take-home essays + 0.1 * Mid-term in-class exam
Bibliography

Bibliography

Recommended Core Bibliography

  • Lorenzo Sasso. (2016). A Critical Analysis of the Recent Russian Regulation on Credit Rating Agencies. Russian Law Journal, 4(2), 62–82. https://doi.org/10.17589/2309-8678-2016-4-2-62-82
  • МОЛОДЫКО КИРИЛЛ ЮРЬЕВИЧ. (2014). Критика концепции договора банковского счета как самостоятельного вида гражданских договоров.