University of London

Small Navigation Menu

Primary Menu

Law on investment entities

LWM77

This course is about the law on investment: substantive laws relating to investment and the regulation of investment and how we protect consumers. However this course is not just a straightforward analysis of financial conduct authority regulation and how we’ve derived those rules in the EU although the course does go through all of the regulatory detail. The course also looks at investment through the entities through which we invest, covering a lot of the history of where these entities have come from. This focuses a lot on English law and on UK legal concepts as a result and the course examines why it is important to be aware of where a law comes from. This course is all about taking concepts that we know about as lawyers: trusts, companies, the rights of investors, the obligations of scheme managers and using them as a way of understanding the way in which we conduct investment and treat investment in the modern world.

Module A: The legal nature of investment entities

LWM77A

  • The meaning of "investment": speculative, social and collective investment
  • The concept of "risk" in investment law
  • Trusts as investment entities
  • The predication of all investment entities on concepts of contract and property
  • Principles of portfolio management and their legal aspects
  • Acquisitions investment

Module B: Collective investment schemes

LWM77B

  • The European Community Undertakings for Collective Investment in Transferable Securities (UCITS) Directive
  • The legal nature of a unit trust
  • The legal nature of an open-ended investment company
  • The regulation of collective investment schemes

Module C: Communal investment schemes

LWM77C

  • The history of communal investment models
  • Friendly societies
  • Cooperative investment models
  • The legal inter-action of members of communal investment schemes
  • The legal nature of investors' rights in such entities
  • The regulatory context of retail investment services provision
  • Public sector investment models

Module D: Investor protection

LWM77D

  • The fundamentals of financial regulation in the UK
  • The effect of the Markets in Financial Instruments Directive (MiFID)
  • The conduct of business regulation
  • The regulation of financial promotion
  • The interaction between regulation and substantive law on investor protection

Assessment

Each module will be assessed by a 45-minute unseen written examination.

Sequence

It is strongly recommended you attempt the modules in order. 

How to apply

You can apply to study a module individually as a standalone unit or as part of a Postgraduate Certificate, Postgraduate Diploma or Master of Laws qualification. (In either scenario, they must be studied in order.)

These modules also contribute towards the following specialist pathways for Laws:

  • Banking and Finance
  • Commercial and Corporate Law
  • Common Law
  • Corporate and Securities Law
  • Equity and Trusts
  • Financial Services Law
  • International Business Law

Apply via Postgraduate Laws.

Academic Co-ordinator

Professor Alastair Hudson

Professor Alastair Hudson

Professor Alastair Hudson FHEA, FRSA, is the Course Convenor for: Commercial Trusts Law, Securities Law, Equity and Trust in Context, International and Comparative Trusts Law, Law on Investment Entities, Private Aspects of the Law and Finance and Law of Financial Crime.

Alastair is an English barrister and academic. He was Professor of Equity & Law at Queen Mary University of London for fourteen years. Between 2012 and 2014, he was Professor of Equity and Finance Law at The University of Southampton. He is a National Teaching Fellow, a Fellow of the Higher Education Academy, and a Fellow of the Royal Society of Arts. He was voted UK Law Teacher of the Year in 2008 and was awarded the Excellence in Teaching Award 2014 by the University of Southampton for "Overall Outstanding Lecturer."