PROFESSIONAL DIPLOMA IN FINANCIAL REGULATION

Week 1: Overview and General Principles of Financial Regulation

In this class we will discuss the purpose, importance and principles of financial regulation within society, as well as the developments in the role of financial regulation over time, including since the 2008 financial crisis.

Week 2: The European Regulatory Framework

Here we will reviewthe various European institutions, agencies and domestic bodies involved in financial regulation, in addition to the various legal instruments used in financial services regulation.

Week 3: Recovery & Resolution Planning, and the Establishment and Supervision of Financial Services Providers in Ireland:

In this class we will examine the role of recovery and resolution planning for banks, including the role of the Single Resolution Mechanism, and will also discuss how financial service providers are authorised and supervised by the Central Bank of Ireland and/or the Single Supervisory Mechanism.

Week 4: Prudential Risk: Concepts & Requirements

Here we will discuss some of the key prudential risks faced by banks, including credit, market, operational and liquidity risk, and the requirements for their management under various regulations, including CRR 2/CRD V.

Week 5: Regulation of Insurance Undertakings and Investment Firms

In this class we will look at the regulation of the insurance and investment firms industries, and will examine the major requirements set down under the Solvency 2 Directive, the MiFID II package, and the new Investment Firms Regulation and Directive.

Week 6: Regulatory Challenges on the Horizon and Crypto-assets

In this class we will address some of the key regulatory challenges facing financial service providers in the current environment, and review the supervisory priorities announced by the Central Bank of Ireland, the Single Supervisory Mechanism, the European Supervisory Authorities and others. We will also examine the emergence of cryptoassets, their nature, and current proposals for their regulation.

Week 7: Conduct Risk, Market Abuse and Enforcement

Here we will examine the conduct of business rules that apply to financial services providers in Ireland and in Europe, as well as requirements under the Market Abuse regulation. We will also look at the enforcement role of the Central Bank of Ireland under its Administrative Sanctions Procedure.

Week 8: Anti-Money Laundering Requirements

This week we will look at the rules applicable to financial services providers in respect of anti-money laundering and countering the financing of terrorism, and the international efforts to combat same.

Week 9: Governance, Remuneration, and Fitness and Probity

We will look at the importance of good governance in the financial services industry, the role of the board and senior management, as well as the relevant requirements under Irish and European rules. The class will also look at remuneration requirements applicable to financial service providers, as well as the Central Bank’s fitness and probity regime.

Week 10: The roles of the Risk, Compliance, and Internal Audit functions

In this class, we will look at the respective roles of the risk, compliance and internal audit functions in the context of the three lines of the defence model. We will also look at the Internal Capital Adequacy Assessment Process, the purpose of risk appetite statements, and risk and control self-assessments.