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international finance

This is the page for Caroline Bradley’s International Finance Class at the University of Miami. This class was last offered as a seminar in Spring 2015. The Spring 2019 class is a regular 3 credit class. Assessment is by means of a paper (on a topic which must be approved by me early in the semester) or a take-home final exam.

The Spring 2019 plan is to focus on the following 5 topics: Litigation Issues in International Financial Transactions; Issues in Transnational Financial Regulation; Compliance and International Finance: Sanctions, Money Laundering, Libor; Fintech; and Climate Change: Financial Stability and Climate Finance.

Classes are in Room F402 on Mondays and Wednesdays from 11 am to 12.20 pm.

Week 10: March 18-22: We will focus on International Finance Materials Chapter 5: Compliance and Financial Regulation. Please read this document for Monday, and for Wednesday please also read Australian Prudential Regulation Authority, Remuneration Practices at Large Financial Institutions (Apr. 2018) .

I added my Spring 2014 exam to the materials page. Looking at the exam, I don’t think question 1 works too well this semester, at least so far. But the other questions (or questions quite like them) would work now.   2014 was much closer to the last financial crisis than we are now. But we have looked at more material this semester on the gatekeeper question than we did in 2014. And I still think there are important questions there. We have also spent quite a bit of time on issues involving sovereign debt this semester (which was also the case in 2014).  But in 2014 by this stage of the semester I had focused more than we have on the developing thinking about bank regulation. After the break we will be spending some time on fintech and climate change issues which are new.  I think it makes sense to ask one question about each major component of the course.

Overall, my objective in this class is a bit different from that for some other classes. We are focusing on some of the issues which arise in international finance, and looking at how law deals with those issues. But the issues themselves are quite different – there are issues of the application of contract law  (NML Capital, Libyan Arab Foreign Bank),  and then there are issues of how laws might be better constructed (e.g. Transatlantic Misalignment).