This Masters programme, which was first launched in 1995, aims to provide students and practitioners with the opportunity to thoroughly and comprehensively examine the evolving legal framework which greatly influences the way financial services are carried out and how these services are regulated in Malta and overseas. While it is offered by the Faculty of Laws, it benefits from the close collaboration and academic input of the Faculty of Economics, Management and Accountancy and is, as a result, better placed to deliver a mixed skill programme not exclusively restricted to law subjects.
The programme includes study-units dedicated to specific areas of financial services; particularly banking, insurance and securities, and investment funds business. These sectors are all undergoing regular developments involving new EU directives and regulations resulting from the various crises and difficulties in which the sector has found itself in, particularly outside Malta. The role, status and objectives of regulatory authorities and the different models of regulation are examined in some detail. Special treatment is given to the role of consumer protection within this sector in Malta and abroad, and the various rules and mechanisms whereby the legitimate interests of consumers are safeguarded, examined and evaluated. These include the role of the Arbiter for Financial Services and the role of the customer protection schemes. The role and procedure of the Financial Services Tribunal is also examined in detail.
While the focus is on the provisions, mechanisms and remedies that arise from Maltese law, a broader global and comparative approach is included wherever possible. Indeed, throughout the course, special focus lies on the impact of European Union law particularly through the various directives and regulations that have been adopted during the past twenty years which affect almost every area of financial services. These include such measures more commonly referred to as the BRRD, CRR, CRD and MIFID.