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[Note: this course replaces ‘Fraud, corruption and money laundering.’]
In the wake of the recent global financial crisis a huge amount of financial crime has been exposed to view, ranging from the Bernard Madoff collapse, to the PPI mis-selling scandal and the prosecutions for insider dealing.
This has become a very hot topic and a fascinating time to study not just how the law works in the UK, but also how should the criminal law, financial market practice and financial regulation all interact.
This course investigates where criminal law works better, and where financial regulation works better, when tackling the kinds of abusive practices we are concerned about.
We will also discuss the line between what is criminal and what is unethical and where that boundary should be.
One of the strengths of this course is that you are not just learning the law, and you aren’t just learning how to use that law in practice. You’re also reflecting on what that law means and where that law will go in the future.
Module A: Insider dealing and market abuse
LWM17A
- The sources of the law on insider dealing
- The EC context of market abuse: insider dealing and market abuse
- The purpose of the law on insider dealing, and whether or not insider dealing ought to be
- criminalised
- Insider dealing offences under Part V of the Criminal Justice Act 1993
- The power of regulators
- Market abuse regulation
Module B: Fraud and market manipulation
LWM17B
- The development of the criminal law of fraud
- The economic and historical context of the law on abusive practices
- Market manipulation offences
- Fraud Act 2006 offences
- Theft Act 1968 offences
Module C: Money laundering
LWM17C
- The purpose of money laundering regulation
- The international dimension
- The context of money laundering regulation
- Proceeds of Crime Act 2002 offences
- Terrorism Act 2000 offences
- Money Laundering Regulations 2007
- The efficacy of money laundering regulation
- Civil recovery
Module D: The nature of the law on financial crime
LWM17D
- The sources of the law on financial crime
- The objectives of the law on financial crime
- The economic and historical context of the law on corruption
- The role of information and transparency in financial criminal law
- The EC Market Abuse Directive
- The role of the regulators in prosecuting criminal offences
- The role of criminal law in supporting financial regulation in the UK
- Other criminal offences under Financial Services and Markets Act 2000
- The underlying objectives of the criminal law in relation to finance
- Civil recovery
Assessment
Each module is assessed by a 45-minute unseen written examination.
Sequence
Module A, B and C must be completed before Module D.