EU Investment Law (JF_459)
About Study Course
Objective
By the end of the course the students will understand the basic principles of functioning EU capital markets (markets of financial instruments), rendering of investment services and Investors protection, as well as problematics of financial crime prevention in the securities sector.
The course provides deep understanding of EU investment services’ regulation. The central components of the course are Directive 2014/65/EU (MIFID II), Market Abuse Regulation No 596/2014 (MAR), which have been accomplished with Directive No 2014/57/EU on criminal sanctions for market abuse (CMAD) and related thereto implementing regulation and technical standards, as well as Investor protection topics. The course gives an understanding and skills to apply law reasoning to specific issues in the securities sector. In addition, the course examines evolving legal and practical problems of financial crime prevention specific to the investment services and securities sector. The course is intended for those students who are interested in understanding and future development of well functioning capital markets across Europe.
Prudential supervision on EU level is performed by ESMA (European Securities and Markets Authority[2]). ESMA library[3] by the essence is centralized storage of information (opinions, guidelines etc.) related to the topics discussed in the frame of the course.
Prerequisites
In International public law
Learning outcomes
Upon successful completion of the course the students will have knowledge on:
- Principles of functioning of securities sector and rendering of investment services;
- Markets of Financial Instruments Directive and Investor protection rights;
- EU Securities Financial Transaction Regulation and EU Financial Collateral Directive;
- EU fundamental principles of capital markets;
- Market Abuse Directive and problematics of tackling of financial crime in securities sector.
The students will be able to:
- interpret and understand basic EU regulations in the investment services area;
- interpret and understand EU regulations in the investors protections area;
-to evaluate specific issues related to the investment services and apply legal reasoning to them;
- describe / interpret specific issues in the discourse of different interests (investment service provider, investor, supervising authority).
After successful completion of the course the students will have the competence to:
- recognize the violation of the Investor’s rights;
-evaluate how foreign national law affects investment services;
- recognize and assess different regulatory regimes in the investment services’ sector;
- evaluate how EU and international laws affect national regulations in the securities sector;
- recognize.
