Certificate in Financial Regulation

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Course Provider
Duration:13 weeks Monday evenings (6 - 9 pm)
Provider:National College of Ireland
Venue:NCI, Mayor Street, IFSC, Dublin 2
Course Fees: Full Course Fee: €950

Network Members Fee: €715

Accreditation:The Certificate in Financial Regulation is a minor award of the BA (Hons) in Financial Services (10 ECTS credits) at level 8, awarded by QQI.

Course Overview

Our popular Certificate in Financial Regulation course will provide you with an up-to-date understanding of the regulatory framework and financial regulation in Ireland and its implications and applications to the financial services industry. The course also provides a detailed understanding of the theory and practice of corporate governance.

Course Content

The Certificate in Financial Regulation will give you an understanding of both the theory and practice of corporate governance and an ability to apply this knowledge to real life corporate problems. The programme will provide you with an understanding of Irish law and its application to the financial services sector. The content will allow you to gain an appreciation of the regulatory framework and its implications and applications to financial services.

  • Overview of Corporate Governance
    • Definitions of Corporate Governance
    • Institutional Investors – Types and Dominance
    • Role of Directors and Shareholders
    • Changing Face of Corporate Governance
    • Best Practice vs Legislative Approach
  • Corporate Governance Theories
    • Separation of Ownership
    • Agency Theory, Stakeholder, Stewardship Theory etc
    • Potential Conflicts of Interest
  • Role of Company Boards and Directors 
    • Board composition
    • Role and Responsiblity of Directors – Qualifications to become a company director
    • Statutory Duties, the 1963 Act ad 1990 Act- Distinctions between two (Disclosures vs Prohibitions)
    • Directors Compliance Statements
    • Board Meetings, Board committees
  • Restriction and Disqualification of Directors
    • Purpose of Restriction (Phoenix Syndrome)
    • Powers to Restrict – Effect of Restriction
    • Grounds for Disqualification
    • Effect of Disqualification
  • Reckless, Fraudulent and insider Dealing 
    • Statutory Regime – Fraudulent Trading (Section 297 of the 1963 Act)
    • Reckless Trading (Section 297A of the 1963 Act as amended by 1990 Act)
    • Insider Trading (Section 198 – wide definition of Insider  Dealing
    • Prohibitions, Exemptions and Liability
  • Study of Relevant Case Studies
    • E.g. Enron, Barings, Northern Rock
    • Other recent developments or case studies
  • Irish Financial Regulatory Authorities
    • Central Bank
    • Financial Services Ombudsman
    • Director of Corporate Enforcement
    • Data Protection Commissioner
    • Pensions Board and Pensions Ombudsman
  • European and International Regulatory Authorities and Standard Setting Authorities
    • European – European Central Bank (ECB), European Securities Markets Authority (ESMA), The European Banking Authority (EBA),
    • International – Basel Committee on Banking Supervision (BCBS), International  Organisation of Securities Commissions (IOSCO), Bank for International Settlements (BIS), Financial Stability Board (FSB)
    • US – The US Federal Reserve (the Fed), Securities Exchange Commission (SEC)
  • Key Areas of International Financial Regulation
    • Anti Money Laundering Directives
    • Market in Financial Instruments Directive – MiFID
    • Capital and Liquidity Requirements – Basel
    • Insurance Regulation – Solvency Regulation
    • UCITS –  a European passport for Funds
  • Regulation in Ireland
    • Irish Regulatory Framework and role of Central Bank in implementing international regulation and directives
    • Consumer Protection – Legislation and Codes of Conduct – Consumer Protection Code 2006 and 2012
      • Mortgage Arrears – Code of Conduct
      • Lending to Small and Medium Enterprises – Code of Conduct
      • Minimum Competency
    • Deposit Protection
    • Life Insurance, Non-Life Assurance and Re-Insurance
    • Government Guarantee Scheme
    • Fitness and Probity – Central Bank Act 2010
    • Credit Unions
  • Current Trends in Financial Regulation
    • As a very dynamic field, the content of the programme will tend to vary considerably over time
    • E.g. Current hot topics include European Market Infrastructure Regulation (EMIR) and movement of OTC trading through CCPs
    • Increasing integration of Central Bank Regulation through Europe
    • Another current hot topic includes the Dodd Frank regulation and the Volcker Rule and the implications for swap trading
    • Financial Transaction Tax
    • A very Brief History of Financial Regulation and the Financial Crisis of 2008
    • Glass Steagall  of 1933– distinction between Commercial and Investment Banking
    • Gramm Leach Bliley Act of 1999 – revoking of the Glass Steagal with permission to create Financial Holding Companies
    • 1990s and 2000s – huge growth in OTC derivatives and securitised debt  and increasing integration of international capital markets with no corresponding increase in regulation
    • Financial Crisis 2008
    • Dodd Frank – New Legislation drawn up in the US, Volcker Rule
    • European Market Infrastructure Regulation – OTC trading being brought through CCPs

Learning Outcomes

  1. Demonstrate a detailed understanding of the composition, role & responsibilities of company boards, committees & management.
  2. Critically assess & evaluate the importance of corporate governance and apply this knowledge in critically analysing corporate structures, board composition and how boards of directors conduct their affairs
  3. Demonstrate a detailed knowledge and ability to critically evaluate the codes of best practice pertaining to corporate governance in Ireland and internationally
  4. Comprehensively understand the duties under both Statute and Common law that apply to Irish Directors, and understand that repercussions in both personal liability and future restriction/disqualification that may flow from a breach of these duties.
  5. Demonstrate a clear understanding of the current regulatory framework as it pertains to Ireland.
  6. Discuss and critically evaluate the changes and possible future changes that may be made to this regulatory & code of best practice environment.
  7. Determine the appropriate measures to be taken in order to minimise legal exposure arising from involvement in this sector.

Who Should Attend

The programme is ideal for those working or wishing to work within regulatory, compliance, governance or related functions in all areas of financial services and those who wish to advance their knowledge of finance law, regulation and corporate governance.

Entry Requirements

Applicants should have an ordinary bachelor degree (Level 7) or equivalent to gain entry into the finance course. Applicants without a degree may be considered for admission based on work and other educational experience.

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