COURSE OUTLINE FOR REGULATORY AND LEGAL FRAMEWORK 2

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