Sections and Topics to be covered include:
A. Introduction to the legal and
regulatory framework of financial institutions
1. Introduction to Financial Services:
Key legal and regulatory issues affecting financial institutions
2. Institutional Framework:
regulatory/legal authorities, Acts, regulations and regulated institutions
B. Transactions involving negotiable
instruments:
3. Bills of exchange
4. Promissory notes
5. Checks (Cheques)
C. Regulatory & Legal Framework
for Banking & Financial Institutions/Services
6. Meaning of Bank, Banker and Business
of Banking
7. The Banker Customer Relationship:
a. The Legal rights and responsibilities
of: i. the banker; ii. the customer
b. Treating Customers Fairly (TCF)
8. The role of the Bank of Ghana in the
regulation and supervision of banks in Ghana
9. Laws/Regulations governing the
Payment System and Electronic Funds Transfer
10. Laws/Regulations affecting lending and credit
facilities
11. Laws/Regulations affecting mergers,
takeovers and acquisitions of financial institutions
D. Regulatory & Legal Framework
for Securities, Investments and Exchanges
12. Introduction to securities and
investment markets: legal and regulatory issues
13. The role of Securities and Exchange
Commission in the regulation and supervision of securities and investments in
Ghana.
14. Key legal and regulatory issues
affecting securities/investment operations: financial crime, insider dealing,
market manipulation, fraud, etc.
E.
Regulatory & Legal Framework for Insurance Services
15. The
role of the National Insurance Commission and the regulation and supervision of
insurance in Ghana
F. International Regulatory and Legal
Framework for Financial Institutions
1. International laws and regulations
affecting financial institutions: Anti-Money Laundering (AML) and Countering
the financing of terrorism (CFT)
2. The role of international regulatory agencies/bodies:
BASEL Committee, IOSCO, UNODC, FATF, IAIS, GIABA, UK FSA, etc
Assessment: The course will be assessed through interim
assessment, class contribution, assignments and group presentations. End of semester
exams will constitute 70% of total marks whereas all other forms of assessment
will add up to 30%.
Attendance: Attendance to lectures is
compulsory for the successful completion of this course. Absenteeism will be
sanctioned with disciplinary action; hence students are expected to sign the
class attendance sheet each lecture session.
Reference: Reading materials for
this course shall include (but not limited to) the following:
1. Commercial Law by R. M. Goode
2. Principles of Banking Law by QC Ross
Cranston
3. Regulation and Compliance by CISI
4. The Bills of Exchange Act 1961 Act 55
5. The Banking Law 1989 PNDCL 225; Banking
Act 2004 Act 673
6. Bank of Ghana Act 2002 Act 612
7. The Securities Industry Amendment Act
2000, Act 590
8. Financial Institutions (Non-Banking
Law) 1993, PNDCL 328
9. Anti-Money Laundering Act 2008
10. Anti-Terrorism Act 2008
11. Borrowers and Lenders Act 2008, Act
773
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