Financial Regulation Course Overview
The Diploma in Financial Regulation course is designed for banking, finance and compliance professionals with an interest in financial regulation. The course provides a detailed overview of the Irish, European and international financial regulatory landscape with a focus on the banking, investment firm and insurance industries.
Week 1: Overview of Financial Regulation
- Introduction to the Diploma
- What are banks/investment firms/insurance undertakings?
- Overview of the banking industry domestically and within Europe
- An overview of the investment firm industry domestically and within Europe
- Overview of the insurance sector in Europe
- The Irish perspective
- History of financial regulation
- The Basel Committee on Banking Supervision
- The 2008 Financial Crisis
- Basel III standards
Week 2: European Regulatory Framework
- European Institutions (Commission, Parliament, Council)
- European Central Bank (ECB)
- The European Banking Authority (EBA)
- Central Bank of Ireland (CBI)
- European Securities and Markets Authority (ESMA)
- European Insurance and Occupational Pensions Authority (EIOPA)
- Single Supervision Mechanism (SSM)
- Single Resolution Board (SRB)
Week 3: Prudential Risk I: Concepts
- Overview of prudential risk management
- Capital and own funds
- Credit risk
- Market risk
- Operational risk
- Liquidity risk
- Environmental risk
- Governance risk
- Three lines of defence model
Week 4: Prudential Risk II: Regulatory requirements
- CRR / CRD4
- Own funds requirements
- Credit risk requirements
- Market risk requirements
- Operational risk requirements
- Liquidity risk requirements
- Regulatory reporting requirements (FINREP, COREP)
Week 5: Conduct Risk
- Overview of conduct risk
- European conduct rules and legislation
- Central Bank of Ireland Consumer Protection Code
- Anti-money laundering requirements and Know-Your-Customer
- Irish examples of Conduct Risk Failures
- International examples of Conduct Risk Failures
Week 6: Regulation of the Insurance Industry
- Overview of the insurance industry
- Introduction to insurance law
- Solvency I
- Solvency II
- Irish legislation & Central Bank Acts
- Management of Insurance Undertakings
Week 7: Governance Requirements and Fitness and Probity
- Importance of good governance in the financial services industry
- The role of the Board
- The role of executive management
- CRD IV governance requirements
- Central Bank of Ireland’s Fitness & Probity (F&P) regime
- Risk appetite and risk appetite statements
Week 8: Internal Management of Risk and Compliance
- Internal Capital Adequacy Assessment Process
- Three lines of defence model
- Risk mitigation techniques
- Risk and control self-assessments
- The role of risk management
- Executive responsibility and the role of the Chief Risk Officer
- The role of the internal audit function
- The role of external auditors
- Internal reporting
- The cost of compliance
Week 9: Supervision and the Establishment and Authorisation of Financial Services Businesses in Ireland
- History of prudential and conduct supervision
- Importance of supervision
- Methods of Supervision: Rules-based vs. principles-based?
- Introduction to European law – 4 freedoms
- Passporting rights
- 3rd country equivalence
- Authorisation process
- Competition law considerations
- Post-Brexit considerations
Week 10: Regulatory Challenges facing the Financial Services Industry
- Basel IV
- CRR2 / CRD V
- Solvency 3?
- Single Supervisory Mechanism supervisory priorities 2019 and 2020
- Management of non-performing loans
- Profitability in a low-interest rate environment
- Challenger banks
Financial Regulation Course Duration
A pass grade on the written assignment will be required for awarding of the Diploma. A fail grade will result in a Certificate of Attendance for the course but without the Diploma being awarded.
Students must attend at least 80% of classes to graduate with either the Diploma or Certificate of Attendance unless a serious and verifiable reason for further absence is provided. If completing the course online, attendance and participation is tracked through Moodle.
The course is run over 10 weeks comprising of three hour lectures (total 30 hours).
Students must attend at least 80% of classes to graduate with either the Diploma or Certificate of Attendance unless a serious and verifiable reason for further absence is provided.
If completing the course online, attendance and participation is tracked through Moodle.
A pass grade on the written assignment will be required for awarding of the Diploma.
The Course is assessed by way of continuous assessment (100%).
- Understand the principles of financial regulation;
- Appreciate the roles of the Central Bank of Ireland, the European Banking Authority, the European Markets and Securities Authority, the European Insurance and Occupational Pensions Authority, the European Central Bank and the Basel Committee on Banking Supervision;
- Appreciate the banking, investment firm industries and insurance firm industries, and the regulatory challenges facing each
- Demonstrate an understanding of statutory obligations that apply to credit institutions, investment firms and insurance undertakings;
- Be aware of and be able to contribute to the management of risk and compliance issues facing credit institutions, investment firms and insurance undertakings;
- Assess the implications of developments in relevant legislation and international policy;
- Evaluate and analyse the importance of financial regulation to the broader economy;
- Evaluate the impact of regulatory failures that have occurred in Ireland and internationally;
David is a barrister practising in civil and commercial law. He graduated with an honours degree in Business and Law from University College Dublin, an LLM from Trinity College Dublin, and was the John Brooke Scholar in King’s Inns.
Prior to commencing practice at the Irish bar, David worked in financial services as a regulatory consultant, and was previously a prudential supervisor at the Central Bank of Ireland, and a policy expert at the European Banking Authority in London.