LLM in International Banking Law and Finance (2024)

I'm really happy that I chose to study this programme as it not only provides extensive knowledge of the financial sector but also addresses current issues such as Fintech. All of the lecturers are experts in the field, so you know you're learning from the best.

Paphawarin Thongtumlung

With the advent of the financial technology revolution and massive expansion of the regulatory framework applicable to global financial market transactions post-2008, the pursuit of a successful career in today’s global markets requires an extensive and in-depth knowledge of complex and sophisticated global and domestic finance laws including:

• private law of contracts and derivatives;
• the law underpinning key corporate finance transactions such as corporate takeovers;
• private equity deals;and
• banking and capital market regulations and practices.

The acquisition of such an extensive and advancedskillset requires, in addition, knowledge of the law and skills in legal and financial analysis and a solid understanding of economic and regulatory theories supporting the operation of global finance that extends to the disruptive influence of financial technology.

The LLM in International Banking Law and Finance was launched six years agoto address a major gap in law and finance education at the postgraduate level and is addressing in-depth and comprehensivelyall of the above challenges.

Depending on prior expertise and experience, graduates of the programme go on to excellent careers and this is one of the very few LLM programmes, globally, that prepares students for posts within the wider banking and finance industry and not just in the legal services sectors.

Edinburgh Law School is Scotland’s leading legal research institution, with a reputation for research excellence in the United Kingdom, Europe and across the globe. We take a research-led approach to teaching and you will be taught by Edinburgh Law School's leading experts in this field as well as by leading figures of the industry including senior bankers, law practitioners and experts involved in policy-making.

The LLM in International Banking Law and Finance is closely integrated with the Edinburgh Centre for Commercial Law, also based in Edinburgh Law School. The aim of the Centre is to co-ordinate the research interests of the commercial team of lecturers, strengthening links with practice and interaction with leading banking and commercial lawyers from the UK and further afield.Students on the LLM in International Banking Law and Finance are warmly encouraged to participate in the activities of the Centre, which has a strong community atmosphere.

Visit the Edinburgh Centre for Commercial Law website

During the programme, you will benefit from being part of a vibrant intellectual community at the Law School. You will have access to an exciting programme of events, many of which provide a unique opportunity to hear from distinguished speakers from a range of fields.

In previous years seminars and guest guest lectures have featured speakers who held leading positions in the fund management industry, banks, and regulators including the Head of the Prudential Regulation Authority (PRA), the Deputy Governor of the Bank of England and leading finance lawyer Lee Buchheit.

Research and subject area activities related to the programme include invited speakers to the Edinburgh Commercial Law Centre which students are actively encouraged to attend. Speakers in the past few years have ranged bank chairpersons, the chair of the UK’s Prudential Authority and the Chair of the European Banking Authority to leading financial economists and leading corporate and finance law practitioners and academics.

You must study this course:

• Regulation of International Finance: The Law, the Economics, the Politics (40 credits, must be taken over the full year)

  Global financial markets have gone through various stages of development since Bretton Woods. In the past two decades, liberalisation, technological advancement, and market innovation have elevated financial markets to a position akin to being the heartbeat of the global economy. However, since 2008 they seem to have fallen into a state of irremediable disrepair. Thus, while global finance was before 2008 either unregulated or its regulation was largely a matter of national regimes (with the exception of the EU), ever since the regulation of International finance has become the subject of extensive reform at the global, regional (EU), and national level. Most of the new regulations target 'too-big-to-fail' institutions and intend to bolster systemic stability. But regulatory reform has not stopped with banks it has been extended to regulation of hedge funds, credit rating agencies, OTC derivatives markets and a host of other interlinked areas.
  This course will examine the workings of global finance and the institutional edifice supporting it, based on modern regulatory theory and practice, from an interdisciplinary perspective (law, economics, politics). It will offer in depth insights into the economic, regulatory, and political framework under which financial markets operate in the EU, the USA, and internationally.

You must select between 40 and 80 credits of the following courses:

• Principles of Banking Law (20 credits)
• Principles of Financial Transactions (20 credits)
• Corporate Finance and Law (20 credits)
• Advanced Capital Markets Law (20 credits)

You can select between 0 and 40 credits of the following courses:

• Company Law (40 credits)
• Insolvency Law (20 credits)
• Corporation Law and Economics (20 credits)
• Comparative Corporate Governance (20 credits)
• Applied Corporate Law (20 credits)

Having successfully completed 120 credit points of courses within the LLM, you will be ready to move onto a single piece of independent and in-depth research. The 10,000 word dissertation allows you to focus on a preferred topic from within the fieldof banking law and finance, normally based on a subject you have studied in one of your courses during the programme.

You will be assigned an academic dissertation supervisor who will provide you with support and guidance while you prepare and write your dissertation.

The dissertation is a challenging but rewarding endeavour, asking you to demonstrate a comprehensive grasp of the relevant literature and an ability to engage critically with a range of sources, drawing on the skills and knowledge you have developed during the course of the programme. Students are encouraged to show originality and evidence of independent thinking, whether in terms of the material used, or the manner in which it is presented.

The dissertation is written in the summer months (April to August) after the taught courses are successfully completed.

Mr Buchheit, Visiting Professor at Edinburgh Law School, is an internationally renowned finance lawyer and will give a series of seminars during the programme.

Mr Buchheit’s practice focuses on international financial transactions, including sovereign debt management, privatisation and project finance. He is the author of two books in the field of international law and more than 40 articles on professional matters. The legal and business press has repeatedly recognised Mr Buchheit for his work on behalf of clients and leading role in the profession, including the Financial Times, which named him on of its 10 most “Innovative Individuals” of 2012 for his work on the Greek debt restructuring; and the International Financial Law Review, which honoured him with its inaugural Lifetime Achievement Award in 2010 for his contributions to international finance.

Before joining the University of Edinburgh in 2023, Andrew was a Lecturer in Law at University College London, where he also served as Co-Director of the UCL Centre for Law, Economics and Society.Andrew holds a PhD in Law from UCL, an LLM in Law and Economics from Queen Mary University of London, and an undergraduate degree in Economics from the University of Edinburgh.

Andrew’s research interests include antitrust/competition law, corporate finance and corporate governance, financial law and regulation, and the role of economics in legal and regulatory contexts. His research has received recognition and support from the Academic Society for Competition Law, the Antitrust Law Section of the American Bar Association, and the Modern Law Review.

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External Guest Speaker

Mr Habib Motani joins our programme of distinguished guest speakers. Mr Motani,formerly head of the global capital markets group at Clifford Chance,is one of the leading international financial markets lawyers and has expertise inderivatives, securities lending, repo, netting and collateral and clearing and settlement systems.

External Guest Speaker

Dr Bassani is a senior legal advisor at the European Central Bank (ECB).

Dr. Longjie Lu joined Edinburgh Law School in September 2019. Prior to Edinburgh, Longjie taught law at the Dickson Poon School of Law, King’s College London, and completed her Ph.D. in law at the University of Leeds.

Longjie’s main research interests are in the areas of financial regulation, corporate governance, corporate finance and empirical legal studies.

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Professor Emilios Avgouleas is the inaugural holder of the International Banking Law and Finance Chair at the University of Edinburgh and the founding director of the Edinburgh LLM in International Banking Law and Finance. He is a Member of the Stakeholder Group of the European Banking Authority (EBA) elected in the so-called 'top-ranking' academics section.

Emilios is an acknowledged international expert on public policy and financial reform, banking theory, banking and capital markets regulation, law and finance, and global economic governance. He has given keynote lectures, annual lectures, research seminars and conference papers in a plethora of leading academic institutions and in influential public policy organisations such as the Bank of England, the Basel Committee, the European Parliament, US Federal Reserve banks, and Singapore Monetary Authority.

Professor Emilios Avgouleas, Chair in Banking Law, deliveredthe eighth lecture in the 2015 Our Changing World series, entitled From Speculative Finance to Sustainable Finance.

Emilios' work has frequently been cited and commented upon in major Parliamentary and public policy reports and is often cited by the global media including Reuters, Financial Times, Bloomberg and the Wall Street Journal.

Until 2008 Emilios practised extensively in the broader field of International and European financial law and structured finance. He worked as an Associate at the Derivatives and Financial Institutions Group of Clifford Chance LLP, as a Managing Associate at the Financial Markets Group of Linklaters, and as an equity partner at a large continental Law Firm.

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We require a minimum 2:1 honours degree from a UK university, or its international equivalent, in law, finance, accounting, management or business studies. Entry to this programme is competitive. Meeting minimum requirements for consideration does not guarantee an offer of study.

Supporting your application

• Relevant work experience is not required but may increase your chances of acceptance.
• Relevant professional qualifications will be considered.
• Preference will be given to those with grades above the minimum requirements due to strong competition for places on this programme.

International qualifications

You can check whether your degree qualification is equivalent to the minimum standard before applying.

Check your degree

Students from China

This degree is Band A.

Find out more about our postgraduate entry requirements for students from China

Postgraduate study in the field of law requires a thorough, complex and demanding knowledge of English, so we ask that the communication skills of all students are at the same minimum standard.

You must demonstrate a level of English language competency at a level that will enable you to succeed in your studies, regardless of your nationality or country of residence.

English language tests

We accept the following English language qualifications at the grades specified:

Two year expiry

• IELTSAcademic / IELTS Academic for UKVI and IELTS Academic Online: total 7.0 (at least 7.0 in the writing component and 6.5 in each other module)
• TOEFL-iBT (including Special Home Edition): total 100 (at least 25 in writing and 23 in each other module)
• Trinity ISE: ISE III with a pass in all four components
• PTE Academic: 70 overall with at least 70 in the writing component and 62 in each other component
  *Please note that we have suspended acceptance of PTE Academic Online with immediate effect*
• Oxford ELLT (Global and Digital): 9 overall with at least 9 in the writing component and 8 in each other component

Three and a half year expiry

• C1 Advanced, formerly known as Cambridge English: Advanced (CAE)
• C2 Proficiency, formerly known as Cambridge English: Proficiency (CPE)

Your English language qualification must be no more than two years old from the start of the month in which the programme you are applying to study begins, unless you are usingCAE/CPE, in which case it must be no more than three and a half years old on the first of the month in which the degree begins.

Degrees taught and assessed in English

We also accept an undergraduate or postgraduate degree, that was taught and assessed in English in a majority English speaking country as defined by UK Visas and Immigration (UKVI). The UK Government's website provides a list of majority English speaking countries.

View the UKVI list of majority English speaking countries

We also accept an undergraduate or postgraduate degree, or equivalent, that has been taught and assessed in English from a university on our list of approved universities in non-majority English speaking countries.

Approved universities in non-majority English speaking countries

If you are not a national of a majority English speaking country, then your degree must be no more than five years old at the beginning of your programme of study.

View approved universities in non-majority English speaking countries

Your application may not be successful if you do not currently satisfy any of these requirements; alternatively, you may be offered a place conditional on your reaching the satisfactory standard by the time you start the degree.

Find out more about the University's English language requirements

Pre-sessional English for Academic Purposes

We also accept satisfactory completion of our English for Academic Purposes programme as meetingour English language requirements. You must complete the programme no more than two years and one month before the start date of the degree you are applying to study.

Find out more about the University's Pre-sessional English for Academic Purposes

English language support

The University runs a series of programmes for English Language Education, including a pre-sessional English Language Programme intended to strengthen your English Language skills before you start your programme of study.

Find out more about English language support offered by the University

Deadlines for applicants applying to study the LLM in International Banking Law and Finance in 2024-25 are provided in the table below.

We monitor application numbers carefully to ensure we are able to accommodate all those who receive offers. It may therefore be necessary to close a programme earlier than the published deadline and if this is the case we will place a four-week warning notice on the relevant programme page.

Please note that the deadline for meeting the conditions of an offer is 18 August 2024.

Applications are made online via the University Application Service, EUCLID.

Please follow the instructions carefully and make sure that you have included the following documentationwith your application:

• You will need to submit a personal statement of around 500 words, outlining your academic history and relevant experience. Guidance on writing your personal statement.
• Degree certificates showing award of degree
• Previous academic transcripts for all past degree programmes (please upload the full transcript showing results from all years of study)
• A reference in support of your application. The reference should be academic and dated no earlier than one year from the start of study on the LLM programme
• Evidence of English language proficiency, if required

If you are currently studying for your degree or you are not in a possession of an English test resultyou may still apply to the programme.Please note that it is your responsibility to submit the necessary documents.

Please be aware that applications must be submitted and complete, i.e. all required documents uploaded, by the relevant application deadline in order to be considered in that round. Your application will still be considered if you have not yet met the English language requirement for the programme.

View full detailed application guidance

Students at this University must not undertake any other concurrent credit bearing studies in this (or in any other) institution, unless the College has granted permission. The College must be satisfied that any additional credit-bearing studies will not restrict the student’s ability to complete their existing programme of study. Students will not be permitted toundertake concurrent degree programmes in any circ*mstances.

If you are studying at this or another institution just prior to the start of your postgraduate studies you must have finished these studies before the start of the programme to which you have an offer.

After your application has been submitted you will be able to track its progress through the University's applicant hub.

Application processing times will vary, however the admissions team will endeavour to process your application within four to six weeks of submission. Please note that missing documentation will delay the application process.

You will be informed as soon as possible of the decision taken. Three outcomes are possible:

• You may be offered a place unconditionally
• You may be offered a conditional place, which means that you must fulfil certain conditions that will be specified in the offer letter. Where a conditional offer is made, it is your responsibility to inform the College Postgraduate Office when you have fulfilled the requirements set out.
  Please note that the deadline for meeting the conditions of an offer is 18 August 2024.
• Your application may be unsuccessful. If your application has not been successful, you can request feedback from us or refer to our guidance for unsuccessful applicants, which explains some of the common reasons we why we reach this decision.
  View the University's guidance for unsuccessful applicants

Deferring your offer

We do not normally offer deferrals, however, we may be able to make a very limited number of offers for deferred entry in exceptional circ*mstances.

View full guidance on deferral requests

If you receive an offer of admission, either unconditional or conditional, you will be asked to pay a tuition fee deposit of £1,500 (within 28 days of receiving your offer) to secure your place on the programme.

Find out more about tuition fee deposits

The University’s terms and conditions form part of your contract with the University, and you should read them, and our data protection policy, carefully before applying.

University of Edinburgh admissions terms and conditions