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2010/1 Module Catalogue
Module Provider: School of Management Short Name: IFSO3
Level: M Module Co-ordinator: MASON A Dr (SoM)
Number of credits: 15 Number of ECTS credits: 7.5
Module Availability
Assessment Pattern

Unit(s) of Assessment  




Weighting Towards Module Mark (%) 

Course Assignment 


Two-hour closed book examination 


Qualifying Condition(s) 


Module Overview

This module will encompass the key principles of regulation, the global frameworks that exist and the main national variations.  The module covers the concept of prudential control and the impact of regulatory regimes such as Basel II in deploying capital as a tool of regulation, as a measure of risk and a mechanism for controlling risk. 

The module will explore the many tensions between different territories and different types of regulator and legislator in the regulation of financial services.  It will also look at the economic impacts of regulation and the structural reforms it generates in both the macro market and within institutions. 



Module Aims
The aim of this module is to give students a thorough understanding of the principles and practices of both national and global regulatory frameworks in a range of territories world-wide.  Students will be introduced to contrasting regulatory and compliance structures and will be expected to critically analyse competing concepts of regulatory control.  Students will gain insights into the benefits and complexities of prescriptive systems vs. principle-based regulatory systems.
Learning Outcomes

On successful completion of this module, students will be able to: 

  • Evaluate the regulatory frameworks across domestic, regional (including European Union) and international markets   
  • Evaluate the role played by capital in the prudential control of the banking systems   
  • Critically analyse the conduct of business frameworks used to protect customers   
  • Critically contrast and evaluate the main forms of financial regulation (including an analysis of prescriptive vs. principles based regulatory structures)  
  • Evaluate the role of regulation, corporate governance and financial measurement in the protection of institutions, customers and shareholders  
  • Explain the inter-relationships between financial regulation and the wider corporate governance and regulatory environment  
  • Evaluate the role of risk in the principles-based regulatory structure 
  • Critically analyse the inter-relationships between regulation in and aimed at global financial markets and domestic retail finance markets  
  • Identify, interpret and critically evaluate a range of published industry and academic resources, research and papers relating to financial services regulation
  • Produce logical arguments in a range of appropriate formats that clearly and concisely explain, analyse and evaluate key issues in financial services regulation  making use of both academic and industry research and relevant examples. 
Module Content

Regulatory Structures  

  • Principles of regulation 
  • Global and regional regulators   

Global Regulation and the Role of Capital  

  • Systemic risk and regulation
  • Basel II – 1 Principles of Capital Adequacy    
  • Basel II – 2 Structures and application of Capital Adequacy Regulation  

Regulation of Retail Markets and Compliance Structures 

  • Principles of retail regulation    
  • Compliance process management  

Non-financial Regulation   

  • The impact of the wider corporate regulatory environment/governance on the financial services sector  


  • Applying and critiquing regulatory frameworks
Methods of Teaching/Learning

The teaching and learning strategy is designed to support students’ understanding of key concepts and the development of their intellectual, practical and transferable skills as stated in the module aims and learning outcomes.   

Teaching and learning will be from ifs’ City campus and will be through a combination of intensive face-to-face block teaching in the form of lectures and seminars (including contributions from senior industry practitioners) and learning centred on the virtual learning environment, supported by students’ independent study.  

Each block of learning at the ifs campus will consist of: 

  • Two hours of lectures including discussion time per week   
  • One hour of seminar/industry workshops (the latter taking place when industry guests are invited)  
  • Two hours of weekly office hours   

Students will be provided with a core text and course handbook.  Where relevant, the module will make use of industry-derived case studies.

E-Learning support via U-Learn and myifslearning will include:   

  • Learning materials   
  • E-book and e-Journal access   
  • Discussion forums   
  • Lecturer/tutor support  



Students will also be encouraged to identify and share relevant readings and other links with the course group to support their own knowledge creation.

Selected Texts/Journals


The module will cover both the prudential control of financial services institutions and the conduct of business principles used to protect customers.  Most text books cover the principles of prudential control and few cover retail conduct of business.  This is an area in which enormous change is taking place, with the result that many texts quickly become outdated.  

Considerable use will be made of regulators’ resources, journal articles and industry reports.  The following core book will also be used:

  • Tarullo, D.K., Banking on Basel : The Future of International Financial Regulation, (The Peterson Institute for International Economics, 2008)  

Recommended reading  

  • Annie Mills, Essential Strategies for Financial Services Compliance, ( Chichester , : John Wiley & Sons, 2008)   
  • Coyle, B., Corporate Governance Essentials, (ICSA Publishing, 2008)
  • Van Gestel, T. & Baesens, B., Credit Risk Management: Basic Concepts: Financial Risk Components, Rating Analysis, Models, Economic and Regulatory Capital ( Oxford : OUP, 2008)  
  • Ong, M.K. The Basel Handbook: A Guide for Financial Practitioners ( London : Risk Books, 2006)  





There are a number of other journals that could contain relevant material. Students need to ensure they are keeping up-to-date with issues relating to financial services.  This short selection provides a starting point:  

  • Journal of Bank Regulation 
  • The Banker 
  • Global Regulator 
  • Financial World (students will receive this automatically as members of ifs) 
  • Journal of Banking and Finance 
  • Journal of Financial Services Research 
  • Journal of Financial Intermediation 
  • Journal of Economics & Business 
  • ABA Banking Journal 
  • Banking Strategies 
  • Journal of Retail Banking
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