This subject critically examines the theories and principles underpinning the regulation of financial institutions and financial products and examines selected legal issues you may encounter in a banking and finance law department of a legal firm or financial institution. In particular, the subject discusses how economic theory within the dominant paradigm of neo-liberalism has explicitly influenced choices of ways of regulating. The subject is divided into two themes. The first critically examines problems of financial regulation arising out of the Banking Royal Commission, the Global Financial Crisis, and new forms of finance in the digital age - fintech. Topics include problems of financial regulation, difficulties relating to the protection of consumers, compliance in financial institutions, regulation of “Defi”, cryptocurrency, stablecoins, and peer-to-peer lending. The second theme of the subject is selected issues in banking and finance law. Topics include the legal nature of different forms of financial accommodation, the legal relationship between borrowers, lenders, and agents in multi-lender financing, and complex legal issues concerning guarantees.
