• For Entry: January | September
  • Duration: 12 months
  • School: Social Sciences
  • Study Mode: Full Time

The LLM Banking and Finance enables you to develop specialised legal expertise relevant to the banking and financial services sector.

TEF Gold - Teaching Excellence Framework

The LLM in Law, Banking and Finance at Dundee offers an innovative blend of professional and theoretical training to prepare students for careers in the financial sector. The course is highly focused in nature, and unlike many other LLM courses in the field is taught by both business and legal professionals who have extensive practical experience of banking and finance law, including experience of financial regulatory law practice in both the EU and the USA.

Who should study the course?

The LLM is designed for graduates who have a law degree or a legal background who wish to develop specialised skills in order pursue a career in the banking and financial services sector.

We offer an interdisciplinary approach allowing you to develop business, finance, economics and legal skills, drawing on a range of academic expertise across disciplines. You will benefit from working with lecturers who have first-hand experience of international legal practice in banking and finance law, who can provide a highly relevant focus to the course offerings. 

 

Top in Scotland

Law is ranked number 1 in Scotland and number 3 in the UK by the Guardian University Guide (2019). We’re also in the UK Top 10 in The Times and Sunday Times Complete University Guides, 2019.

Dundee Law School

Dundee Law School is widely recognised as an excellent place to study.  Both the Guardian and Times league tables placed Dundee as the top Law School in Scotland and in the top 10 in the UK, building on particularly strong results in the National Student Survey, which has repeatedly ranked Dundee as first in Scotland. Over the last two national reviews of research, Dundee is the only institution in the UK to have had all of its submissions rated as “internationally excellent” or “world-leading”. 

Our commitment is to provide high-quality instruction, with a focus on practical relevance, to prepare you for a successful career, at home or abroad. We offer an induction programme at the start of each semester, to ensure that you have the necessary understanding of the UK and European legal systems and of what is required of you in a study environment seeking to develop independent learning

We seek to integrate you into the life of the School, with invitations to guest lectures and seminars. We also have an annual reading party in a beautiful country house, where you are joined by staff to work on academic skills and relax with fellow students.

Teaching Excellence Framework (TEF)

The University of Dundee has been given a Gold award – the highest possible rating – in the 2017 Teaching Excellence Framework (TEF).

Read more about the Teaching Excellence Framework

TEF Gold - Teaching Excellence Framework

How you will be taught

You will be taught through a mix of lectures, seminar discussions and tutorials, with an emphasis on seminars that build on reading done on the basis of the specific reading lists provided.

What you will study

You will take three modules in each semester, plus Legal Research Skills (taught in two blocks at the start of each semester) and will present a Dissertation (written over the summer).

Not every module will be available in every year, depending on staff availability and student demand.

 

Compulsory modules

Compulsory law modules:

Designed to introduce students to the structure and functioning of the banking and financial services industry. In particular, the

module will examine the key and emergent issues in banking, including the role of central banks and regulation, and the risks that banks face. The module will also introduce students to different banking systems across the globe.

Masters Dissertation

Aims

  • to promote a deeper and critical understanding of selected areas of law
  • to develop originality of thought and skills of research, analysis, argumentation and expression
  • to build upon and develop the knowledge and skills acquired in the taught masters modules through an extended piece of independent work

Example of content

Independent research on an area of law agreed and supervised by a member of staff.

SCQF Credits

50

Legal Research Skills

Aims

The aim of this module is to introduce you to the key elements of legal research and writing, supporting the acquisition of the (transferable) skills necessary to succeed in the LLM and beyond and in particular providing a sound basis for progress to the dissertation element of the Masters degree.

Examples of content

  • legal research
  • reading critically
  • writing critically
  • writing techniques
  • research methods
  • research ethics
  • presentation skills
  • approaching a dissertation

SCQA credits

10

Banking Law and Financial Markets

Aims

To examine the regulation of financial services and markets in&n a global context, with particular reference to the financial crisis and its aftermath.

Examples of content

The syllabus will evolve in line with new developments. It is envisaged that the module may comprise the following elements:

  • introduction to banking and financial services regulation and the context in which the industry operates, including its recent history.
  • main features of the regulation of financial services at the UK and EU level.
  • substantive law relating to financial services (I): Contract and tort.
  • substantive law relating to financial services (II): Property and crime.
  • the interaction of financial services regulation and competition policy.

SCQF credits

20

Optional modules (as approved by Adviser of Studies)

Equips students with an understanding of the important themes in corporate governance such as the nature and importance of

Corporate Governance in both a UK and international context; recent changes in governance applying to major UK and international companies, and the need for ethical business behaviour.

This module provides you with an extensive, detailed and critical knowledge and understanding of contemporary issues in the banking industry and financial markets. You will understand the role of banks as financial intermediaries; the role of banks in the international money; credit and bond markets; the impact of international factors on banks; the regulatory environment in which banks operate; the risks faced by banks and how to mitigate these risks, and the latest trends in innovation and technology in banking.

Credits

Stage 5 (SCQF level 11) 20 credits

This module will develop your understanding of the behaviour of financial agents and the workings of global financial markets within the framework of modern finance theory. Topics include the time value of money and discounted cash flow analysis; theories of the yield curve and bond valuation; risk-return trade-off and mean-variance portfolio theory; Capital Asset Pricing Model and the Efficient Market Hypothesis; alternative approaches to stock valuation and financial ratio analysis; influence of corporate dividend policy and capital structure on stock pricing; functions of futures exchanges and the valuation of financial and commodity futures and the properties and valuation of option contracts.

You will examine the fundamental concepts of international trade, finance and investment. It introduces the tools and techniques for asset pricing and capital budgeting, provides an overview of financial risk assessment and balance of payments and analyses the operation of the foreign exchange market and the determination of exchange rates. Topics you will cover include compounding, discounting and discounted cash flow analysis, the valuation of stocks and bonds in financial markets, the measurement of risk and the role of risk in asset pricing and financial decision-making, the balance of payments and the influence of macroeconomic factors on trade, the operation of currency markets and theories of exchange rate determination.

The module will broaden your knowledge and understanding of the quantitative theory of financial risk, and how that risk can be managed by financial derivatives; develop critical reasoning skills in the context of financial derivatives and financial risk management; equip you with the practical skills to apply most appropriate financial derivatives to managing and hedging the financial markets volatility. When you finish the module you will be able to explain (i) the sources of financial markets risk, (ii) the key characteristics of various derivative products; (iii) the use of these products as risk management tools and understand the implications of hedging via risk-neutral replication and construct hedge portfolios, and understand pricing and hedging principles of a range of derivatives.

This module enables you to evaluate and manage the risks involved in international business in order to make sound financing and investment decisions. You will develop a knowledge and understanding of foreign exchange and eurocurrency markets; models of foreign exchange rate determination and financial products that manage currency risk; models of interest rate determination and financial products that manage interest rate risk; the practical uses of international capital markets for managing risk; the international economic and political environment in which multinational companies operate; the risks of foreign direct and foreign portfolio investment; practical perspectives of risk, and techniques for assessing the risk of capital and financial investments.

Focuses on the theoretical basis and empirical evidence for understanding the functioning of international financial markets and

institutions. The module covers issues relating to money and banking, such as money supply, money demand and the determination of interest rates and exchange rates. The module also provides students with knowledge of different financial instruments and the ability to analysis and combine these securities into an efficient investment portfolio.
 
Credits
 
Stage 5 (SCQF level 11), 20 credits

You will be introduced to the main financial issues confronting developing countries. In particular you will examine current issues in emerging market finance as well as the suitability of mainstream finance theory for emerging financial markets. You will acquire the knowledge and understanding of how emerging stock markets have evolved; international portfolio diversification; the efficiency of emerging capital markets; predicting financial crises; stock market interdependence and stock market listing behaviour.

Credits:20

Overview

The main objective of the module is to provide an understanding of the main law and policy issues in the international petroleum industry, with an emphasis upon transactional agreements concluded between host government and oil company/investors.

Common and diverging objectives between the two parties and indeed among the international corporate and financial investors themselves are faced in a candid and practical way, with an emphasis upon ways of accommodating the interests of diverse stakeholders in the development of petroleum resources.

A brief introduction is provided to petroleum taxation issues. The module focuses upon problem-solving techniques in a variety of settings, noting the inputs of lawyers, economists, accountants, engineers and geologists.

Module leader

Professor Peter Cameron
Credits:20

Overview

The main objective of the course is to provide an introduction to the fundamental concepts and specific legal and jurisdictional issues in the field of international and transboundary natural resources.

The emphasis is on ensuring a proper understanding of the existing legal mechanisms and international regimes applicable to various types of natural resources located beyond States’ jurisdiction or control.

Module leader

Dr Sergei Vinogradov
Credits:20

Overview

The module aims to provide an understanding of the regulatory and contractual mechanisms required to make a single jurisdiction work in relation to petroleum law. The emphasis is on providing the student with knowledge and understanding of the differences (and similarities) between regimes based on licences, and those based on production sharing contracts.

All oil and gas law throughout the world is the same at a basic level – international law determines which state is entitled to the resource; the entitled state grants rights to individuals to extract the resource; the individuals agree amongst themselves as to how to split the costs and benefits; there is unitisation if necessary; the production is taxed; pipelines etc are built to move the production; the production is sold; and the facilities are ultimately decommissioned. This module aims to show the different models states adopt to facilitate petroleum production, including showing the role for state companies.

Module leader

Stephen Dow

Credits: 20

Overview

The course deals with selected issues central to understanding international and national environmental policy and law related to production and consumption of natural resources and power generation. It addresses, in particular, environmental problems arising in connection with production and transportation of petroleum (both on-land and offshore), mining activities, use of nuclear energy, including production of uranium and disposal of radioactive wastes, and use of fossil fuels, including transboundary air pollution and global climate effects. A special emphasis is placed on the solutions for environmental problems provided by various national regulatory systems, in particular British and North American.

Module leader

Dr Sergei Vinogradov

Credits: 20

Overview

Project financing is a tool, not an outcome in itself. This course recognises that energy projects are frequently financed by lenders. Where the lenders are content to accept repayment solely from the revenues of that project – not from the wider revenues of the sponsor – there is a limitation of recourse (or at the extreme an absence of recourse). That is project financing. The course looks at how various types of energy project can be structured to achieve that goal. The bank is not an equity risk taker – its business is to take credit risks. Project finance will force the bank to take a degree of project risk, so the bank will demand a contractual structure which mitigates that risk exposure. The course is concerned with understanding the risks for various energy projects – oil development; gas development; power generators; mining projects etc – and seeing how the principle risks inherent in those projects are moved by contract to the party best able to bear the risk. The course understands that where the bank is happy with the project risk profile, it will lend. If the bank is not happy with the project risk profile, it will not lend. The course looks at the risks which can be moved and how are they moved to a party acceptable to the lender – whilst at the same time ensuring that the holder of that risk is happy with the level of payment for taking that risk.

Module leader

Stephen Dow

Credits:20

Overview

The main objective of this course is to help the students to understand the int’l environments and of the interaction between international relations (IR) and energy and natural resources industry. This module, together with International Political Economy, is being introduced in order to provide an important political element to the MBA, LLM and MSc Programmes in general, and to form an important part of the specification of Geopolitics of Energy in particular.

Module leader

Dr Janet Xuanli Liao

Credits:20

Overview

This module will provide students with foundation knowledge on how taxes and non-tax instruments are used by governments and the extractive industry to promote natural resource development while deriving revenues for the state and profits for extractive firms. Emphasis is on providing an understanding of the complex issues of tax regimes and the skill to analysis current topics or controversies, with the objective of providing competent strategy or policy advice to either governments or resource firms. Students will be prepared to compare and evaluate alternative taxation regimes, including environmental and international tax issues. Some topics covered in the module include; resource rent taxation, royalties, direct and indirect taxes, general structure of PSAs/PSCs, transfer pricing, and current issues from around the world. This module does not teach skills in accounting, financial analysis or tax law.

Module leader

Dr Ariel Bergmann

Corporate Governance

Aims

This module aims to to provide students with a knowledge and critica lappreciation o faspects of corporate governance.

Examples of content

  • A range of topical issues which might include:
  • Distribution of power within companies and governance mechanisms
  • Voluntary Codes, comply or explain and the place of information
  • Shareholders and the Stewardship Code
  • Risk, auditors and internal control
  • Board effectiveness and culture

SCQF credits

20

 Module Reading List

Private International Law of Business Transaction

Aims

This module aims to provide students with advanced instruction in several key aspects of private international law that are of particular relevance to business transactions in an international context.

Examples of content

The syllabus will evolve in line with new legislative developments. The module may comprise thefollowing elements:

  • resolving international commercial disputes, comparing and contrasting litigation, arbitration & ADR
  • jurisdiction in contractual matters
  • prorogation of jurisdiction (Brussels & Hague)
  • inter-relationship of Brussels Ia and Arbitration
  • choice of law in contract (Brussels & Hague)

SCQF credits

20 credits

Module Reading List

Environmental Regulation

Aims

To provide an overview of the main concepts and legal mechanisms used in regulating human impact on the environment.

Examples of content

  • introduction and regulation
  • liability
  • licensing
  • enforcement
  • market mechanisms
  • integration and environmental governance
  • overview

SCQF credits

20

International Criminal Justice

Aims

The module aims to provide an in-depth knowledge of international criminal law and the problems of the operation of international criminal law.

Examples of content

  • introduction to the history of international criminal law.
  • the establishment of the International Criminal Tribunal for the former Yugoslavia, International Criminal Tribunal for Rwanda and the International Criminal Court.
  • the substantive law of international crimes.
  • the roles of different actors in the trial process.

SCQF credits

20

International Law & Security

Aims

This module aims to give students advanced knowledge and understanding of key issues relating to International Law and Security and to inculcate a theoretical understanding of the concept of security in international law.

Examples of content

  • collective security
  • the United Nations Security Council
  • Security Council: economic sanctions
  • the prohibition on the use of force
  • the Security Council: use of force
  • the law of armed conflict
  • United Nations peacekeeping

SCQF credits

20

Module Reading List

Transnational Crime and Counter Terrorism

Aims

This module will examine the international legal response to transnationalcrime (in particular organised crime) and terrorism.

Examples of content

  • nature and extent of organised crime and the general international legal response
  • judicial co-operation –extradition
  • judicial co-operation –mutual assistance
  • the internationallegal response to terrorism
  • review of national legal responses to terrorism

SCQF credits

20 credits

Global Human Rights

Aims

The aim of this module is to examine the concept of human rights as a global phenomenon, to examine and compare theoretical or philosophical insights that support the articulation of human rights in a variety of international, regional and national instruments, and to assess the contributions of a selection of writers from the Global South to global human rights discourse.

Examples of content

This module will consider the human rights debate from the perspective of the Global South. Specific themes to be covered include:

  • the history and concept of human rights
  • universality against relativism
  • human rights in Africa 
  • human rights in the Muslim world
  • human rights in Asia

SCQF credits

20

Private International Law (Common Law Perspectives)

Aims

The aim of this module is to provide advanced instruction in several key aspects of private international and procedural law that are of particular relevance to civil and commercial litigation in a European and International context.

Examples of content

  • Principles of Jurisdiction –a comparison between English and US traditional rules
  • Principles of Jurisdiction –the doctrine of Forum Non Conveniens in the UK, US & Australia
  • Principles of Jurisdiction –the role of the anti-suit injunction in the UK and the US
  • Common Law Jurisdiction vs CivilianPrinciples of Jurisdiction
  • The Hague Conference Judgments Project

SCQF credits

20

Module Reading List

Legal Frameworks for Water Resource Management

Aims

The aim of this module is to develop a critical understanding of the fundamental legal principles that govern the management of national freshwaters and the factors that influence their application.

Examples of content

  • relevance of fresh water management to global policy agendas, and the role of law.
  • examination of demands made on governance of water resources management by global change.
  • water use rights allocation mechanisms with respect to surface and ground waters around the world.
  • management of pollution control with respect to surface and ground waters from point and diffuse sources.
  • legal aspects of flood management, including disaster response, land use management, interface with broader water management issues, and institutional issues.
  • key factors influencing effectiveness of legal frameworks relating to freshwater and dependent ecosystems.
  • use of case studies.

SCQF credits

20 creditds

Principles of Corporate Law

Aims

To develop critical understanding and knowledge of the fundamental principles which underlie company law and corporate finance in the UK

Examples of content

  • Separate Legal Personality and Limited Liability
  • Directors’ Duties
  • Shareholder Remedies and the Protection of Minority Shareholders
  • Equity Financing and Debt Financing
  • Companies in Trouble

SCQF credits

20

Module Reading List

Competition Law

Aims

This module provides an advanced understanding of modern competition law with primary focus on the law and policy of the EU and UK. It covers the main areas of competition law that students would be most likely to encounter in practice, enforcement, or further legal research.

Examples of content

This module focuses on cartels and restrictive agreements; abuse of a dominant position;and the review of mergers and acquisitions under competition law:

  • introduction to competition law and policy
  • the law relating to horizontal restrictive agreements
  • the law relating to vertical restrictive agreements
  • introduction to competition law and practice relating to abuse of a dominant position
  • merger clearance law

SCQF credits

20 credits

UN Human Rights Law

Aims

To examine critically the law, institutions and procedures relating to the promotion and protection human rights by the United Nations

Examples of content

  • The development of human rights in the UN
  • Treaties, and non-treaty based UN institutions and procedures
  • Civil and political rights
  • Economic and social rights
  • Specialist areas including Discrimination, Torture

SCQF content

20

Module Reading List

Principles of E-Commerce Law

Aims

This module aimsto provide an introduction to and overview of the main concepts and legalissues associated with the law relating to E-Commerce and e-commercetransactions in the United Kingdom.

Examples of content

  • Introduction
  • Intellectual Property in the Electronic Environment
  • Governance and Regulation of Electronic activity
  • Electronic Contracts
  • Consumer Related Issues
  • Enforcement and Conflict of law issues

SCQF credits

20

Module Reading List

Intellectual Property Law

Aims

This module aims to provide students with a knowledge and understanding of key concepts in intellectual property law from a UK perspective as affected by European and international influences and a critical appreciation of the key social and economic issues and influences associated with the topics.

Examples of content

  • A range of topical issues which might include
  • Copyright
  • Patents
  • Trademarks
  • Design rights
  • The digital environment
  • Intellectual Property in the European Union

SCQF credits

20

World Trade Organisation Law

Aims

The aim of this module is to examine the regulation of international trade in a global context, with primary reference to the World Trade Organization rules.

Examples of content

The syllabus will evolve in line with new developments. The module will include the following elements:

  • Introduction to international trade law and policy, with particular reference to the development of the multilateral trade agreements that culminated in the WTO.
  • General features of international trade law.
  • Tariffs, quotas and other barriers to market access under WTO law.
  • Antidumping and subsidies under WTO law.
  • Export controls and national security under WTO law.
  • The interaction of intellectual property law and competition policy with WTO law.

International Taxation Law

Aims

To examine critically the law relating to taxation in an international context. The module will look at jurisdiction to tax individuals and businesses, the causes of double taxation and ways in which domestic systems seek to deal with double taxation where activities attracting taxation are carried out over more than one country –namely through double taxation treaties. The module will look at how different countries seek to protect their tax base against tax avoidance.

Examples of content

  • jurisdiction to tax –corporate residence
  • permanent establishment
  • taxation of business profits
  • double tax treaties –interpretation
  • international tax avoidance
  • BEPS and countering international tax avoidance

SCQF credits

20 credits

Governance and Regulation of Water Services

Aims

The aim of the module is to develop a critical understanding of the options for ownership and structure of water services, the importance of good governance and the role of economic regulation in both the public and the private sectors.

Examples of content

  • global policy agendas surrounding water resources and water services
  • broad options for ownership and structure of water services (public, private, PSP)
  • comparative legal frameworks for water services regulation
  • the role of economic regulation, its relationship to economic and social goals and models for regulation
  • regulatory frameworks for drinking water quality and service standards; waste water treatment; on-site sanitation
  • the role of governance in water services delivery
  • the human right to water

SCQF credits

20 credits

How you will be assessed

You will be assessed through a combination of exams and essays. The courses taught by Law share a common pattern; those in the autumn semester are assessed by exam and those in the second semester by essays. In each case you will be given a chance to practice this style of assessment and given feedback on your performance before the formal assessment.

This pattern ensures that you will gain experience of different styles of assessment, testing both breadth and depth of knowledge and developing writing skills in advance of tackling the Dissertation. The Dissertation is assessed wholly on the basis of the final text that is submitted and Legal Research Skills by a combination of a short essay and a presentation.  

There are significant opportunities for graduates with specialised knowledge of banking and finance law flowing from very important changes to regulation in recent years. The course is designed with a practical focus with a view to assisting students to engage with such opportunities to the greatest possible extent.

Applicants must have, or expect to receive in the anticipated year of entry, a good honours degree in law. Exceptionally, non-law graduates with relevant legal experience may be considered. If you are concerned that your qualifications do not meet our normal expectation then please contact us.

 EU and International qualifications


English Language Requirement

IELTS Overall 6.5
Listening 6.0
Reading 6.0
Writing 6.0
Speaking 6.0

 Equivalent grades from other test providers

 

English Language Programmes

We offer Pre-Sessional and Foundation Programme(s) throughout the year. These are designed to prepare you for university study in the UK when you have not yet met the language requirements for direct entry onto a degree programme.

 Discover our English Language Programmes

The fees you pay will depend on your fee status. Your fee status is determined by us using the information you provide on your application.

 Find out more about fee status

Fee statusFees for students starting academic year 2018-19
Scottish and EU students £6,950 per year of study
See our scholarships for UK/EU applicants
Rest of UK students £6,950 per year of study
See our scholarships for UK/EU applicants
Overseas students (non-EU) £16,450 per year of study
See our scholarships for international applicants
Fee statusFees for students starting academic year 2019-20
Scottish and EU students £7,300 per year of study
See our scholarships for UK/EU applicants
Rest of UK students £7,300 per year of study
See our scholarships for UK/EU applicants
Overseas students (non-EU) £17,275 per year of study
See our scholarships for International applicants

Additional costs

You may incur additional costs in the course of your education at the University over and above tuition fees in an academic year.

Examples of additional costs:

One off costOngoing costIncidental cost
Graduation feeStudio feeField trips

*these are examples only and are not exhaustive.

Additional costs:

  • may be mandatory or optional expenses
  • may be one off, ongoing or incidental charges and certain costs may be payable annually for each year of your programme of study
  • vary depending on your programme of study
  • are payable by you and are non-refundable and non-transferable

Unfortunately, failure to pay additional costs may result in limitations on your student experience.

For additional costs specific to your course please speak to our Enquiry Team.

You apply for this course via the UCAS Postgraduate website which is free of charge. You can check the progress of your application online and you can also make multiple applications.

You'll need to upload relevant documents as part of your application. Please read the how to apply page before you apply to find out about what you'll need.

  Degree Course code
Apply nowLaw, Banking and Finance LLMP052333

Course Contact

Professor Peter McEleavy
Dundee Law School
p.e.mceleavy@dundee.ac.uk
+44 (0)1382 384452