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International finance law: transactions, policy, and regulation

This module provides students with a multidimensional understanding of the core issues in international finance transactions.

Through lectures, case studies and other exercises it provides students with the theoretical and practical building blocks and conceptual tools necessary to understand and master the more advanced intellectual challenges posed by the interaction of law and policy in international financial transactions.

Topics covered

  • Financing Needs.
  • Syndicated Lending.
  • Secured Financing and Inter-creditor Arrangements.
  • Bonds and Eurobonds.
  • Sovereign Bonds and Sovereign Debt Crises.
  • Securitisation and Financial Derivatives.
  • The Use of Legal Opinions.
  • Choice of Law and Jurisdiction and Recognition and Enforcement of Foreign Judgments.
  • Financial Remedies.

Learning outcomes

If you complete the course successfully, you should be able to:

  • Describe the basic corporate, banking and sovereign financing framework at the national, regional and transnational level.
  • Understand the theory and practice of financial regulation in a comparative context.
  • Critically discuss the internationalising and globalising context in which corporate, banking and sovereign frameworks operate and the policies that are continuously being reformed.
  • Describe financing techniques and the capital and financial markets.
  • Explain and evaluate the legal and policy issues relevant to the international finance law field.
  • Explain both the practical application and underlying forces in the international finance transactions, law and policy arenas.
  • Apply theoretical models to real world business solutions.
  • Identify complex international finance problems in a professional capacity and assess international finance transactions, law and policy challenges within the wider business context.
  • Distinguish between different borrowing/lending tools (loan, bond, structured finance, etc.)
  • Critically assess how to hedge risk using different techniques (contractual provisions, using collateral, derivatives, subordination, etc.)
  • Communication skills (including the ability to articulate complex solutions to business related decisions, structure arguments and to effectively relate these in an independent piece of research work).
  • Complex problem-solving skills to support international finance making, from transaction, law and policy perspectives.
  • The skills to structure and document an international finance transaction.
  • Research skills into a financially related business problem and the application of these in the assembling and analysis of facts and situations.
  • The ability to synthesise and use information and materials from a variety of different sources to support an argument.

Assessment

This module is assessed by:

Coursework (30% weighting):

  • There is one item of coursework for this module which contributes to the final assessment mark forthis module:
  • Coursework: a written essay of a maximum of 2,000 or 2,500 words (deadline – weeks 9-12) The coursework is designed to check student progress, extend and reinforce concepts covered and also test individual performance.

Examination (70% weighting):

  • The final piece of assessment will be an unseen written examination of 2 hours’ duration.

Essential reading

The following is provided as part of the course materials after you register:

  • The Law and Practice of International Finance, Phillip Wood, Sweet & Maxwell (university edition), 2007
  • International Finance: Transactions, Policy and Regulation, Hal Scott and Anna Gelpern, Foundation Press (university casebooks), 2012

Module author

Professor Rodrigo Olivares-Caminal, module leader

Professor Rodrigo Olivares-Caminal

LLB (Bue), LLM (Warwick), PhD (London)

Rodrigo Olivares-Caminal is Professor in Banking and Finance Law at Queen Mary, specialising in international finance and insolvency law. He is formerly Senior Lecturer in Financial Law and Academic Director at SOAS, University of London, and the School of Law, University of Warwick.

He has taught in various Law Schools and Business Schools in the UK and across Europe and has acted as a Sovereign Debt Expert for the United Nations Conference on Trade and Development (UNCTAD), Senior Insolvency Expert for the World Bank / IFC and as a consultant to several multilateral institutions in Washington DC and Europe.