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  1. University of Malta Department of Banking & Finance Law Relating to Financial Services Module ConvenorMichel Said MSc ISIB (Lond), IIAC, B.Com (Hons)e-mail: michelsaid@mt.pwc.comwww.lrfsonline.comAims & ObjectivesTo expose students to the principal laws which regulate financial services in Malta so as to appreciate the value of regulatory compatibility and notions of riskTeaching MethodologyA series of lectures and a group research project articulated by a team presentationAssessmentWeekly assessment (student chosen at random) on current affairs as reported on Financial Times (FT)Case team presentation: 30% (10% peer assessment, 90% module convenor) (Feb-Apr 2006)Test: 70% (May-June 2006) Lecture NotesEach topic will be accompanied by a detailed reading list and will be available at Copy Club after each lecture. Notes provide a useful background but must be supplemented by other references going into more detail.

  2. University of Malta Department of Banking & Finance Law Relating to Financial Services One of the best ways to develop risk awareness is to learn from others' mistakes. The Wheel of Misfortune contains instructive case studies of a dozen infamous financial disasters.

  3. University of Malta Department of Banking & Finance Law Relating to Financial Services Amongst these financial disasters, we have selected 2 case studies of which you are expected to select 1 case study after due consideration amongst your team members. Case study 1Bank of Credit and Commerce International On July 5, 1991, an incident that has been described as the biggest bank fraud in history came to a head when regulators in seven countries raided and took control of branch offices of the Bank of Credit and Commerce International (BCCI). Monetary losses from the scandal were huge, with estimates ranging from $10 billion to $ 17 billion though many billions have since been recovered for creditors by bank liquidators, Deloitte & Touche. Case study 2Bausch & Lomb At the beginning of 1994, Bausch & Lomb was a respected company with an apparently strong position in the US optical products and eye-care sector. It had charmed investors with double-digit earnings growth most years from the mid-1980s up until 1994. But it was about to be plunged into a strategic crisis and a growing scandal concerning the figures it had reported to investors. By the end of 1994, the US Securities & Exchange Commission (SEC) had begun a formal investigation into the company’s accounting practices. Commentary on BCCI and Bausch & Lomb is widely available on the Web, and easily found through searches of the company’s name. Refer to ‘Case study’ on www.lrfsonline.com for general guidance. Answers to any queries will be posted on ‘Guestbook’ to ensure a fair and transparent level playing field amongst groups. Good luck and aim high!

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