Law and Financial Crimes

Course Description

The aim of this unit is to enable learners to understand legal compliance requirements in financial services and markets in relation to fraud, corruption, money laundering, terrorism, and theft laws. Learners will also be introduced to current theories and legal practices in the law of financial crimes and learn about statutory frameworks, financial services regulations and capital market, fraud and theft act, and criminal law regulations.

Course Objectives

The aim of this unit is to enable learners to understand legal compliance requirements in financial services and markets in relation to fraud, corruption, money laundering, terrorism, and theft laws. Learners will also be introduced to current theories and legal practices in the law of financial crimes and learn about statutory frameworks, financial services regulations and capital market, fraud and theft act, and criminal law regulations.

Key Topics

1. LO1: Understand UK financial crime provision relating to insider dealing and market abuse.
2. LO2: Understand the impact of money laundering regulations on businesses and its international dimensions.
3. LO3: Understand the regulation and commercial policy issues relating to white collar crimes.
4. LO4: Understand the development of global financial crime and the international initiatives in regulating this area.

Course Outline

Learning Outcomes

1. LO1 Understand UK financial crime provision relating to insider dealing and market abuse.
2. 1.1 Analyse civil offence according to the Financial Services and Markets Act 2000.
3. 1.2 Identify sources of law on insider dealing.
4. 1.3 Evaluate the statutory frameworks and EC context on dealing with insider dealing and market abuse.
5. 1.4 Analyse the general offences of financial crimes under Financial Services and Markets Act 2000, Fraud Act 2006 and Theft Act 1968.
6. 1.5 Compare and contrast how market abuse regulations and regulators act against insider dealing and related financial frauds.
7. LO2 Understand the impact of money laundering regulations on businesses and its international dimensions.
8. 2.1 Analyse the purpose of money laundering regulations.
9. 2.2 Evaluate the international dimensions of money laundering regulations.
10. 2.3 Analyse the background of the UK Proceeds of Crime Act 2002 and explain offences under its provisions.
11. 2.4 Evaluate the consequences of money laundering on society.
12. LO3 Understand the regulation and commercial policy issues relating to white collar crimes.
13. 3.1 Analyse the historic development of white-collar crime and the role in statutory law in dealing with this.
14. 3.2 Evaluate the role of criminal law in supporting prosecution of white-collar crime.
15. 3.3 Critically analyse civil remedies in the context of white-collar crimes.
16. 3.4 Analyse the defenses available and to what extent these need to be developed further.
17. LO4 Understand the development of global financial crime and the international initiatives in regulating this area.
18. 4.1 Compare and contrast historic and economic general provisions of law on: o money laundering o terrorist financing o corruption
19. 4.2 Analyse the EC Market Abuse Directive to control market manipulation and abusive practices.
20. 4.3 Evaluate the reporting requirements and the impact this has on global financial crime.
21. 4.4 Evaluate the role of criminal law in supporting financial regulations in the United Kingdom.
22. 4.5 Critically analyse the international role in developing mechanisms to regulate global financial crime.