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シラバス詳細照会

シラバス詳細照会

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授業情報

開講年度 2019年度 開講箇所 大学院法務研究科
科目名
Comparative Financial Law

担当教員 久保田 隆
学期曜日時限 秋学期  火6時限
科目区分 共通選択科目(展開・先端科目):国際関係系 / 日本法特殊講義 配当年次 1年以上 単位数 2
使用教室 27-301 キャンパス 早稲田
科目キー 4701010292 科目クラスコード 01
授業で使用する言語 英語
  コース・コード LAWE680L
大分野名称 法学
中分野名称 国際法
小分野名称 その他
レベル 修士レベル 授業形態 講義

シラバス情報

最終更新日時:2019/03/03 12:46:50

授業概要

   International Financial Law is one if the major playing field for business lawyers. However, to obtain fundamental knowledge for international financial system, together with contents and differences of related laws of major economies in handy is usually difficult. Thus this class aims to provide students, even if they have no prior understandings, with such skills and knowledge.  In this course, students will study financial mechanism and laws from basic to advanced level, with concrete examples. In each class, students are required to report the designated part in the class and will be asked to discuss what differences exist between your systems and Japanese one. Lecturer is happy to support students' understanding of the Japanese financial systems and laws.

  The first six classes are prepared for adjusting the class schedule and deciding the textbook based on students’ prior knowledge, excursion to the Tokyo Stock Exchange or the World Bank Tokyo Office, my lectures on fundamental matters, and movie watching effective for understanding some financial transactions. The next six classes are students’ group and class presentations and discussions about a textbook by the JIGSAW teaching style as shown below. Our tentative textbook material is the selected chapters from Christopher Stoakes, All you need to know about the City Part 2, Longtail. 

  Though it varies, there are usually about 16 students in this course: such as 8 from US, 2 from Canada, 2 from France, 2 from Germany and 2 from Japan.

授業の到達目標   This lecture illustrates International Financial Regulation, which includes Commercial Banking, Investment Banking , etc. in handy. As some students have not taken related courses such as banking law at law schools or international finance at business schools, or even have almost no prior knowledge about financial institutions and regulators (ex. BIS, FRB, FSA), this lesson adopts “active learning” style in the beginning to facilitate your understanding. By taking this lesson, students can explain basic ideas of major regulations together with some major legal differences among major economies, which is critical for legal practice in this field.To understand the basic mechanism and laws of international finance.
For example, in the lesson 3, lesson objectives are that students can explain fundamental legal matters clearly in an hour, and discuss on these:
- Commercial Banking: legal definition, major regulations. depositors’ insurance,
- Comparative Legal Perspectives: Ring-fencing issues with investment banking (Glass-Steagall vs Universal), and Commerce with recent amendments.
- Systemic Risk; credit/liquidity/operational/Herstat risks, financial stabiity
- International and domestic regulators: BIS, FRB/OCC/State (US). FSA (JPN), etc.
事前・事後学習の内容 For your reference, 4th lecture's lesson plan is shown as follows.

Materials
- Wiki 0 (Banking Regulations: Required to read in advance):
https://en.wikipedia.org/wiki/Bank_regulation
- Wiki 1 (Systemic Risk): https://en.wikipedia.org/wiki/Systemic_risk
- Wiki 2 (BIS): https://en.wikipedia.org/wiki/Bank_for_International_Settlements
- Wiki 3 (Universal Bank/Glass-Steagall ): https://en.wikipedia.org/wiki/Universal_bank https://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_legislation
- Wiki 4 (Deposit Insurance): https://en.wikipedia.org/wiki/Deposit_insurance
You may think that Wiki is inadequate for academic study, but don’t worry that the above links are better written than some lengthy textbooks.

Instructional Strategies
1. Ice-breaking: Tell us your country and a bank/regulator in your country (1 min.)
2. Describe Lesson Goals and Objectives. (2 min.)
3. Entrance Ticket for Individual Works (3 min.)
(1) Which do you think is the correct legal definition of “banking activity”?: a. Lending, b. Deposit-Taking, c. Remittance, d. Both Lending and Deposit-Taking
(2) What do you think are the most important grounds for regulating banks more than trading companies? : a. To protect Depositors, b. To reduce Systemic Risk, c. To avoid misuse (ex. Anti-Money Laundering), d. To protect Banking Confidentiality, e. To Allocate Credits (ex. Community Reinvestment Act in the U.S.), f. To treat customers fairly.
4. Lecture on Commercial Banking and Systemic Risk and Making 4 Groups (4 min.)
******* The Above is planned for my second mini-lecture, by adding 3.*************
5. Group Discussion on Entrance Ticket Question (2) and whether there is any room for de-regulation, by reference to Wiki 0, and White Board Writing of top 3 grounds with explanation of reasons (4 min.)
6. Comments on White Board in Carousel manner by all and Wrap up by lecturer (5 min.)
7. Group Study in JIGSAW method (1): In each group, every student will read different Wikis, and prepare for explaining the following key words. (10 min.)
(1) Wiki 1: Systemic Risk, Too Big to Fail, Regulation Arbitrage.
(2) Wiki 2: BIS’ Goal, Capital Adequacy, Reserve Policy.
(3) Wiki 3: Universal Banking, US Glass-Steagall Act.
(4) Wiki 4: Why Deposit Insurance exists, How it works.
8. Group Study in JIGSAW method (2): Then let us form new 4 groups as Wiki 1, Wiki 2, Wiki 3, and Wiki 4 Groups and discuss the following issues. (10 min.).
(1) Wiki 1: How to measure future systemic risk? How to avoid moral hazard?
(2) Wiki 2: What role-sharing is appropriate b/w BIS and country regulators? Are the current BIS members over-represented by advanced economies?
(3) Wiki 3: Should Commercial and Investment Banks integrated or separated?
(4) Wiki 4: How to avoid moral hazard? What extent it should cover the risk?
9. Group Study in JIGSAW method (3): Former Group Q&As. Students go back to the original group and explain the contents each other. (20 min.)
10. Class Discussion 1: Sum up lecture with class discussions. (10 min.)
11. Class Discussion 2: Ring-fencing Issue b/w Banks and Commerce. Until recently, Banks and Commerce cannot enter into other business each other in US (No-way Approach). Can enter each other in EU (Two-way Approach), while Commerce can enter into Banks but Banks cannot in Japan (One-way Approach). Just a few years ago, US allowed banks to invest in IT Business such as Amazon, and Japan followed this. Then what do you evaluate the approaches and the current move? (10 min.)
12. Exit Ticket for Individual Works. (3 min.)
(1) What is the most important point you learned today?
(2) What point remains least clear with you?

授業計画 1st Introduction
2nd Excursion to the Tokyo Stock Exchange or the World Bank Tokyo Office.
3rd Lecture:(1) Financial System as a whole
4th Lecture (2) Financial Regulation
5th Lecture (3) Financial Transaction
6th Movie Watching: ex. Rogue Trader (Deivatives), Enron (Securitizaton),  Other People's Money (M&A),  
7th Chapter 1: Getting Off the Ground & New York
8th Chapter 2: Stock Markets & Tokyo
9th Chapter 3 Bonds & London
10th Chapter 4: Currency and Money Markets & Hong Kong
11th Chapter 5: Securitisation, Sub-prime and Credit crunch & Mumbai
12th Chapter 6: Derivatives & Chicago
13-15th No class, but 3-pages writing report is needed to submit until the end of December.   
教科書 Selected chapters from Christopher Stoakes, All you need to know about the City Part 2, Longtail (Tentative, Copies are available).

参考文献  
成績評価方法
割合 評価基準
試験: 0% No test.
レポート: 40% Though obtaining 2 credits requires 15 classes, this course consist of 12 classes due to the Exchange Students’ schedule. Thus additional 3-page written report is required by the end of the year to substitute for missing 3 classes. In this report, you will choose your favorite related legal issue and write a short discussion paper analyzing it. If you like to obtain a high grade, it is recommendable not only just explaining the issue but also analyzing it by showing your idea with comparison of different laws (ex. US/Japan).
平常点評価: 60% Class attendance, presentation and class discussions/contributions. Students’participation in the group and class discussion is highly evaluated in each lesson.
その他: 0% Please do not ignore class attendance!
備考・関連URL <Special Requirements>
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<Other Remarks>
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