LLM
1 year full time, 2 years part time
Starts September 2017

International Financial Law

The global financial crisis has had a major impact on the way the financial system works. As a result, there is an increasing demand for professionals with expertise in international financial law.

You’ll be exposed to different perspectives and have the opportunity to widen your professional network. You'll:

  • gain a thorough insight into issues affecting major transactions in global financial markets
  • develop a comprehensive understanding of the financial services industry
  • engage with domestic and international developments from practical, regulatory and policy perspectives on financial law.

Brighton hosts the headquarters of major international financial corporations and is located less than an hour from London, Europe’s financial capital. This gives you direct access to prospective employers.

Engage with law outside the classroom at Sussex – Amira Elbayouk, International Financial Law LLM

Key facts

  • Learn from today’s leading lawyers – our world-leading research underpins our teaching.
  • Prepare for your future career – our courses are designed with skills training at their core, enabling you to think logically about legal problems.
  • Discover what interests you most – Sussex Law School provides a truly international, stimulating and engaging learning environment for you to build a rich base of knowledge.

How will I study?

Teaching on this course has a practical emphasis. In addition to the fundamental theoretical knowledge and skills, you will be equipped with the practical tools necessary to apply your understanding of global finance – and how it is regulated – to the real world.

The LLM is highly interdisciplinary. This is reflected in the diversity of the modules available and the academic staff in charge of the teaching, including lawyers, economists and political scientists.

Our range of modules gives you the opportunity to identify fields of study closest to your career aspirations. You learn through core modules and options in the autumn and spring terms. In the summer, you undertake supervised work on the LLM dissertation.

You're assessed through coursework, essays and a 10,000-word dissertation.

Full-time and part-time study

Choose to study this course full time or part time, to fit around your work and family life. Modules for the full-time course are listed below.

For details about the part-time course, contact us at lps@sussex.ac.uk

What will I study?

  • Module list

    Core modules

    Core modules are taken by all students on the course. They give you a solid grounding in your chosen subject and prepare you to explore the topics that interest you most.

    • Advanced Legal Research and Writing

      15 credits
      Autumn Teaching, Year 1

      Advanced Legal Research and Writing has two purposes:

      • to ground students in the conventions of advanced academic writing in law (a specialised form of discourse with many non-obvious conventions and norms)
      • to ground students in the leading traditions or approaches in academic legal research.

      The module covers modern standards for the citation of legal authorities (such as OSCOLA), as well as the justification for them. Legal traditions covered include:

      • doctrinal exposition and analysis
      • critique of doctrine, institutional design and practice
      • researching the dynamics of law.
    • International Financial Law Regulation and Governance

      30 credits
      Autumn Teaching, Year 1

      This module considers the legal and regulatory framework governing the financial and securities markets. With US, UK and EU law the primary focus, we look at civil law systems, especially at cross-border issues and where corporate assets and liabilities are located in multiple jurisdictions.

      You examine legal structures of cutting-edge transactions as well as the underlying policy objectives that shape the financial law and regulation. You identify and explore the most challenging issues in the post-financial crisis legal environment, with a particular regard to the recent trend of public and private law enforcement.

      The module addresses:

      • financial accounting
      • disclosure
      • corporate finance
      • securities litigation
      • mergers and acquisitions (M&As)
      • corporate criminal liability and cross-border insolvency in the global financial markets.

      The theory of fraud-on-the-market will also be highlighted along with the recent landmark cases by the US Supreme Court.

    • Dissertation (International Financial Law)

      45 credits
      Spring & Summer Teaching, Year 1

      All LLM students design and carry out a project of research under individual supervision. You are encouraged to apply the theoretical and practical principles of research methodology, which were addressed by the module Advanced Research for LLM Students.

      You are particularly encouraged to apply an interdisciplinary approach in the production of your 15,000-word dissertation. Current faculty within the Sussex Law School (SLS) play an active role in dissertation supervision. Due to the interdisciplinary nature of this module, the supervisor(s) within SLS will be supported by appropriate supervisors from across the schools, especially from the School of Business, Management and Economcs.

    Options

    Alongside your core modules, you can choose options to broaden your horizons and tailor your course to your interests.

    • Corporate and International Finance

      15 credits
      Autumn Teaching, Year 1

      This module covers the most important topics in corporate finance such as: capital investment decision-taking; financing andcapital structure; risk management; and portfolio theory. You will then analyse issues in international finance including: models of exchange rates; efficiency in foreign exchange markets; monetary unions; and international financial crises.

    • International Financial Law Regulation and Governance

      30 credits
      Autumn Teaching, Year 1

      This module considers the legal and regulatory framework governing the financial and securities markets. With US, UK and EU law the primary focus, we look at civil law systems, especially at cross-border issues and where corporate assets and liabilities are located in multiple jurisdictions.

      You examine legal structures of cutting-edge transactions as well as the underlying policy objectives that shape the financial law and regulation. You identify and explore the most challenging issues in the post-financial crisis legal environment, with a particular regard to the recent trend of public and private law enforcement.

      The module addresses:

      • financial accounting
      • disclosure
      • corporate finance
      • securities litigation
      • mergers and acquisitions (M&As)
      • corporate criminal liability and cross-border insolvency in the global financial markets.

      The theory of fraud-on-the-market will also be highlighted along with the recent landmark cases by the US Supreme Court.

    • The Law, Economics and Behaviour of Corporations

      30 credits
      Autumn Teaching, Year 1

      This module takes an innovative approach to the analysis of corporations. We focus on the economic and behavioural issues that largely determine corporate functioning, as well as the law and regulation of central aspects of their governance.

      Close interactions between corporate law and financial law mean that a solid knowledge of corporate law and economics is essential to properly understand financial law. The integration of this module in the autumn term will provide you with a knowledge that will be very useful in the other modules you choose.

    • Alternative Dispute Resolution

      30 credits
      Spring Teaching, Year 1

      This module will provide you with a critical and in-depth understanding of the theoretical and practical dimensions of dispute resolution in comparative perspective.

      In addition, the module will equip you with practical experience of negotiation and mediation in a variety of national and international contexts. Because Alternative Dispute Resolution (ADR) has attracted interests from a variety of academic disciplines the course engages with interdisciplinary research.

      The module is divided into three substantive parts;

      • Part I examines issues of formal and informal justice across a range of legal cultures, and then explores the manner in which ADR emerged as a reform movement in the late 20th century, primarily in common law jurisdictions.
      • Part II surveys the primary key modes of dispute resolution ordinarily used: negotiation, mediation, and umpiring.
      • Part III examines the inventive approaches to dispute resolution based on a fusion of one or more primary processes and gives emphasis to international dispute resolution and online dispute resolution.
    • Commercial Conflicts of Laws

      30 credits
      Spring Teaching, Year 1

      This module examines the rules governing commercial litigation in which not all facts are linked to a single jurisdiction. For example, the litigation may arise out of a sale of goods from a corporation in one jurisdiction to a person in another jurisdiction. In those cases, the following questions may arise:

      • In which jurisdiction can litigation between the parties take place?
      • The law of which jurisdiction governs the substantive issues of the dispute?
      • Can a judgment rendered in one jurisdiction be recognised and enforced in another jurisdiction?

      This module addresses those questions. It focusses on the relevant EC/EU Regulations (Brussels I Recast, Rome I and Rome II) and English domestic law, but there is also an opportunity to look at international conventions and the law in some other countries.

    • Entrepreneurial Finance

      15 credits
      Spring Teaching, Year 1

      This module provides you with an understanding of the role finance plays in the survival and growth of small firms. It begins by discussing the challenges of characterising firm growth and how firms use capital to grow, drawing upon empirical evidence on the topic. It then covers the variety of sources firms may use for external capital, including (but not limited to) banks, business angels, venture capitalists and small cap stock markets, and how these investments are valued. It concludes by discussing differences in funding environments for small firms in different countries, and covers the challenges faced by policymakers in developing policy tools to provide support for small firms.

    • Financial Derivatives

      15 credits
      Spring Teaching, Year 1

      This module provides up-to-date coverage of the main aspects of financial derivatives. Moreover, it gives an overview of the mechanics of futures markets, the hedging strategies using futures, the determination of forward and futures prices, the mechanics of options markets and the swaps, and the Greek letters. The module presents the corner stone of financial derivatives, namely the Black-Scholes-Merton Model and goes further to introduce Value at Risk.

    • International and Comparative Company Law

      30 credits
      Spring Teaching, Year 1

      Topics covered include:

      • Introduction and theory: the company as an instrument of entrepreneurship, domestic and foreign models of corporate entities, business as a social and economic tool, the market and profit incentive, regulation and laws as an economic function and the conflict of legal and economic rules.
      • Company law concepts: the concept of the corporate contract, legal personality, the corporate veil, judicial avoidance of the doctrine, forms of business organisation, company as entity, group enterprise, distinction between corporate forms, the legislative framework, birth, life and death of the company.
      • Corporate liability: general liability in tort and contract and trust relationships, general regulatory approach, the arguments for self-regulation and interventionism, the influence of criminal and civil liability concepts, ultra vires and agency doctrines, individual and corporate capacity, corporate crime.
      • Corporate responsibility and governance: companies as democracies, representation and power, the exercise of control, the management of conflict, internal and external control, stakeholder theory, directors duties and liabilities, administration and supervision, employee consultation and participation, dispute resolution, corporate social responsibility and philanthropy.
      • European and international company law: the EU framework for co-operation in corporate affairs, fundamental freedoms for companies, harmonisation of European law, jurisdictional issues and approaches in the common law and civil law systems, competition among jurisdictions and the Delaware effect, international co-operation issues, multinationals.
    • International Business and Human Rights

      30 credits
      Spring Teaching, Year 1

      The module considers the legal and regulatory framework governing the financial and securities markets. With US, UK and EU law the primary focus, the module also looks at civil law systems, in particular, when cross-border issues arise and where corporate assets and liabilities are located in multiple jurisdictions. The module examines legal structures of cutting edge transactions as well as the underlying policy objectives that shape the financial law and regulation. In the post-financial crisis legal environment, the most challenging issues are identified and explored, with a particular regard to the recent trend of public and private law enforcement. Specifically, the module addresses financial accounting, disclosure, corporate finance, securities litigation, mergers and acquisitions (M&As), corporate criminal liability and cross-border insolvency in the global financial markets. The theory of fraud-on-the-market will also be highlighted along with the recent landmark cases by the US Supreme Court.

    • International Commercial Arbitration

      30 credits
      Spring Teaching, Year 1

      International commercial arbitration is a process of resolving business disputes between or among transnational parties through the use of arbitrators rather than courts. The module will examine the conceptual and practical issues relating to matters such as the decision to arbitrate, the relevant law, the structure and process of international arbitration, and the recognition and enforcement of arbitral awards. Throughout the module, comparisons will be made with other mechanisms of dispute settlement in international law such as the International Court of Justice, the WTO Dispute Settlement Body and the International Tribunal on the Law of the Sea.

    • International Investment Law

      30 credits
      Spring Teaching, Year 1

      International investment law is the law that protects investors and investments located in foreign jurisdictions (known as foreign direct investment).

      A global network of treaties regulate foreign direct investment, and it is the interpretation of these treaties by arbitral tribunals, together with customary international law, that form the basis of international investment law.

      This module examines the nature of international investment law, the protections offered to foreign investors by international investment law and investor-State dispute resolution procedures. In addition, the module considers recent developments in international investment law, including its interaction with other areas of public international law. The module addresses both theoretical and practical aspects of international investment law.

    • Multinational Financial Management

      15 credits
      Spring Teaching, Year 1

      The main aim of this module is to evaluate the financial decision-making of companies operating internationally, providing an understanding of global capital markets, in the context of international trade patterns, international monetary systems, exchange rate regimes and foreign exchange markets, as well as tax rules and legal and institutional complexities. You will also develop competences in the appraisal of international capital expenditure choices and in the effective implementation of multinational management control systems. In addition, the module considers the political risks faced by multinational enterprises, including firm-specific risk, country risk, and global risk, together with an assessment of the origins and repercussions of the current credit crisis, including the international scale of securitization, and the impact of market failure in international interbank markets on multinational financial management.

      Summary outline: currency regimes and markets and the management of foreign exchange risk; measuring and managing exchange exposure; international financing and capital market integration; the cost of capital for foreign investments; capital budgeting for the multinational corporation; working capital management; taxation and transfer pricing; country risk analysis and the implications of the financial crisis of 2007-09 and module resumé.

    • Research Methods (Finance, Accounting and Banking)

      15 credits
      Spring Teaching, Year 1

      Provide students with the necessary training to undertake research.
      Provide students with an understanding of the relevance and importance of alternative epistemological positions in the social sciences and the nature of both qualitative and quantitative approaches to research.
      Develop students understanding of the nature of research in the social sciences by examining the study skills necessary to manage and undertake a research project.
      Provide students with opportunities to be familiar with frontier empirical and theoretical research.
      Provide students with a good foundation for undertaking a dissertation.

    • The Law of Financial Derivatives and Structured Products

      30 credits
      Spring Teaching, Year 1

      In this module you focus on the law relating to derivatives. You examine the analysing and documenting of derivatives transactions, the termination of derivatives transactions, legal issues relevant to collateralisation and credit derivatives, stock-lending and securitisation.

      Topics include:

      • financial product, income and risk
      • financial deviates product 
      • commercial and structural aspects of financial derivatives 
      • standard market documentation of financial derivatives 
      • collateralisation and taking security 
      • common legal issues with financial derivatives contracts in practice 
      • termination of financial derivatives
      • development and challenges to financial derivative after financial crisis 2008.
    • Transnational Corporate Finance Law

      30 credits
      Spring Teaching, Year 1

      This module examines from a transnational perspective both the public and private dimensions of corporate finance law, using case studies that originate in the United Kingdom, continental Europe (with particular reference to France and Germany), the United States, and Asia, but also involving a significant cross-border dimension. The module focuses primarily on legal challenges to multinationals companies’ operations, such as jurisdiction and extraterritoriality, recognition of foreign judgments, judicial cooperation, and conflict of laws.

      Cutting-edge issues arising from cross-border insolvencies, merger and acquisitions (M&As), and corporate criminal liability are studied in a global context. A secondary focus is on the interplay between international and national legal frameworks as well as soft initiatives, all of which are indispensible to an understanding of the globalisation of business law. Special attention is paid to the cultural, economic and political underpinnings of transnational laws, which will also be examined in case studies.

Find out about LLM degrees at the University of Sussex

Entry requirements

An upper second-class (2.1) undergraduate honours degree or above in law or a relevant subject (such as economics, finance, international relations, political science, history, criminology, criminal justice or sociology) but applicants from other backgrounds may be considered

English language requirements

Standard level (IELTS 6.5, with not less than 6.0 in each section)

Find out about other English language qualifications we accept.

English language support

Don’t have the English language level for your course? Find out more about our pre-sessional courses.

Additional information for international students

We welcome applications from all over the world. Find out about international qualifications suitable for our Masters courses.

Pre-Masters in Law

Need to boost your academic skills for your taught course? Find out more about our Pre-Masters in Law.

Visas and immigration

Find out how to apply for a student visa


Fees and scholarships

How much does it cost?

Fees

Home: £7,700 per year

EU: £7,700 per year

Channel Islands and Isle of Man: £7,700 per year

Overseas: £15,100 per year

Note that your fees may be subject to an increase on an annual basis.

How can I fund my course?

Postgraduate Masters loans

Borrow up to £10,280 to contribute to your postgraduate study.

Find out more about Postgraduate Masters Loans

Scholarships

Our aim is to ensure that every student who wants to study with us is able to despite financial barriers, so that we continue to attract talented and unique individuals.

Chancellor’s Masters Scholarship (2017)

Open to students with a 1st class from a UK university or excellent grades from an EU university and offered a F/T place on a Sussex Masters in 2017

Application deadline:

1 August 2017

Find out more about the Chancellor’s Masters Scholarship

Lady Monica Cockfield Scholarship (2017)

Two full UK/EU fee waivers for students who hold an offer of a place on the MA in European Governance and Policy.

Application deadline:

31 July 2017

Find out more about the Lady Monica Cockfield Scholarship

Sussex Graduate Scholarship (2017)

Open to Sussex students who graduate with a first or upper second-class degree and offered a full-time place on a Sussex Masters course in 2017

Application deadline:

1 August 2017

Find out more about the Sussex Graduate Scholarship

Sussex India Scholarships (2017)

Sussex India Scholarships are worth £3,500 and are for overseas fee paying students from India commencing Masters study in September 2017.

Application deadline:

1 August 2017

Find out more about the Sussex India Scholarships

Sussex Malaysia Scholarships (2017)

Sussex Malaysia Scholarships are worth £3,500 and are for overseas fee paying students from Malaysia commencing Masters study in September 2017.

Application deadline:

1 August 2017

Find out more about the Sussex Malaysia Scholarships

Sussex Nigeria Scholarships (2017)

Sussex Nigeria Scholarships are worth £3,500 or £5,000 and are for overseas fee paying students from Nigeria commencing a Masters in September 2017.

Application deadline:

1 August 2017

Find out more about the Sussex Nigeria Scholarships

Sussex Pakistan Scholarships (2017)

Sussex Pakistan Scholarships are worth £3,500 and are for overseas fee paying students from Pakistan commencing Masters study in September 2017.

Application deadline:

1 August 2017

Find out more about the Sussex Pakistan Scholarships

How Masters scholarships make studying more affordable

Living costs

Find out typical living costs for studying at Sussex.


Faculty

The LLM in International Financial Law is convened by Dr Pablo Iglesias-Rodríguez and taught by faculty members with strong expertise and experience in the areas of:

  • financial services law
  • company law
  • banking law
  • financial crime
  • business and economics.
  • Faculty profiles

    Dr Femi Amao
    Senior Lecturer in Corporate/CommercialLaw
    O.Amao@sussex.ac.uk

    View profile

    Dr Qingxiu Bu
    Senior Lecturer in Corporate/CommercialLaw
    Q.Bu@sussex.ac.uk

    Research interests: Corporate Criminal Liability and Anti-Bribery Law, Corporate Finance Law, Extraterritoriality, Sovereignty and Global Crime, Financial Fraud Litigation, Foreign Investment and National Security, Global Antitrust Enforcement, International Business and Human Rights, Transnational Business Law

    View profile

    Dr Kamala Dawar
    Senior Lecturer in Commercial Law
    K.Dawar@sussex.ac.uk

    Research interests: Competition and consumer law, Development law, International Financial Law, International political economy, International trade law, Investment Arbitration, Public procurement and subsidy regulation

    View profile

    Mr Paul Eden
    Senior Lecturer in Law
    P.A.Eden@sussex.ac.uk

    Research interests: Carriage by Air, Carriage of Goods by Sea, International Commercial Law, International Sales Law, Law of Treaties, Legal Interpretation, Plurilingualism, Statehood and Recognition, Terrorist Financing, The Crime of Apartheid

    View profile

    Dr Ahmad Ghouri
    Senior Lecturer in Commercial Law
    A.A.Ghouri@sussex.ac.uk

    Research interests: Alternative Dispute Resolution, comparative corporate law and governance, international commercial arbitration, International Commercial Law, international dispute resolution, international investment law, investor-state arbitration, Islamic commercial law

    View profile

    Dr Edward Guntrip
    Lecturer In Law
    E.J.Guntrip@sussex.ac.uk

    Research interests: Foreign direct investment, global commons, international dispute resolution, international investment law, investor-state arbitration, Public international law

    View profile

    Dr Sirko Harder
    Reader in Law
    S.Harder@sussex.ac.uk

    Research interests: Civil remedies, Law of obligations, Private international law

    View profile

    Dr Pablo Iglesias-Rodriguez
    Lecturer in International Finance Law
    P.Iglesias-Rodriguez@sussex.ac.uk

    Research interests: comparative corporate law and governance, Financial Markets, Financial regulation, Global Corporate Law and Governance

    View profile

    Dr Colin King
    Senior Lecturer
    Colin.King@sussex.ac.uk

    View profile

    Prof Emmanuel Mamatzakis
    Professor of Finance
    E.Mamatzakis@sussex.ac.uk

    Research interests: Corporate finance, corporate governance, Finance, Financial accounting, Financial Crisis in Greece, Financial Econometrics, Financial Management, Financial Markets, Financial stability, Public finances

    View profile

    Prof Susan Millns
    Professor of Law
    S.Millns@sussex.ac.uk

    Research interests: citizenship, Comparative Law, Constitutional Law, European Union Law, Feminist Legal Studies, Human Rights

    View profile

    Prof Erika Szyszczak
    Research Professor
    E.Szyszczak@sussex.ac.uk

    Research interests: EU Competition Law, EU Employment Law, EU Governance, EU State Aid Law and Policy, EU trade policy, New Models of Public Services, Post Brexit Trade Policy, Public Procurement, Services of General Economic Interest, Transformation of the state and markets

    View profile

    Prof Richard Vogler
    Professor of Comparative Criminal Law &Criminal Justice
    R.K.Vogler@sussex.ac.uk

    Research interests: Comparative Law, Criminal justice reform, Criminal law and criminal justice, Criminal Law And Criminology

    View profile

    Dr Joanna Wilson
    Lecturer In Commercial Law
    J.L.Wilson@sussex.ac.uk

    Research interests: bail in, bail out, bank regulation, banking, banking law, club governance, Common Law, Including Commercial Law, Corporate/commercial law, crisis management, lender of last resort

    View profile

Careers

This course gives you a solid formation in the field of international financial law and practice. You will be prepared to start/continue a successful career in areas such as:

  • legal practice in major law firms
  • consultancy and legal advice in multinational corporations
  • financial supervision agencies
  • international organisations.

You will also have the knowledge to go on to PhD study and then an academic career.

Graduate destinations

97% of students from Sussex Law School were in work or further study six months after graduating. Our graduates have gone on to jobs including:

  • associate lawyer, White and Case LLP
  • forensic assistant, International Criminal Court
  • parliamentary assistant, European Union.

(EPI, Destinations of Leavers from Higher Education Survey 2015 for postgraduates)

Working while you study

Our Careers and Employability Centre can help you find part-time work while you study. Find out more about career development and part-time work

The University of Sussex offered a challenging and stimulating environment to study International Financial Law.”Kuniyuki Sone
Section Chief
Office of International Affairs, Planning and Co-ordination Bureau
Financial Services Agency of Japan