4307434: Law of Asset Management

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Semester:SS 17
Scheduled in semester:4
Semester Hours per Week / Contact Hours:30.0 L / 22.5 h
Self-directed study time:67.5 h

Module coordination/Lecturers


Bachelor's degree programme in Business Administration (01.09.2012)


I. Introduction to Law of Financial Markets, General Concepts

II. Scope of Law & Regulation of Financial Markets

III. Types of Regulation: Intermediary, Sales, Product

IV. Regulation and Supervision

V. Vertical Regulation

    • Banks
    • Insurance Companies
    • Fund Manager (UCITS, AIFMD)
    • Asset Manager (MiFID)
    • Depositary Regulation
    • Financial Conglomerates
    • Markets
    • Information Intermediaries: Rating Agencies, Advisers, Proxy Voting

VI. Horizontal Regulation
  • Market Abuse
  • Data Protection

VII. Sales Regulation
  • Investor Disclosure & Transparency
  • The KIID / PRIPs
  • The Sales Intermediary
  • Cross-Border Sales and Services

VIII. Product Regulation
  • Product Intervention


    • Know the basic principles of the Law & Regulation of Financial Markets.
    • Know the scope and basic principles with respect to vertical regulation.
    • Understand the basic structure of the sources of law.
    • Circumscribe the organization and competences of the financial supervision.
    • Analyze the specific duties of due diligence in comparison to the competences of the financial supervision.
    • Compare the different methods and legal instruments to manage assets.
    • Create concepts about the establishment and organization of financial intermediaries.
    • Apply law on specific cases
    • Know how to find the relevant sources of law (statutes, judgements) and handle the relevant legal databases.
    • Solve practical cases by interpreting the sources of law.
    • Analyze different types of intermediaries.
    • Are able to interpret the corresponding sources of law.
    • Decide upon practical cases by interpreting the corresponding sources of law in the scope of financial supervision and vertical as well as horizontal regulatory instruments
    • Listen carefully to understand and interpret the arguments of the lecturer and fellow students.
    • Interpret arguments and facts during presentations of the lecturer and fellow students and react with critical questions. Improve communication skills by debating their point of view in discussions during the lecture.
    • Learn the need for communication in teams and the difficulties and benefits of working in groups within group work assignments.
    • Have their own proposals for solutions and are able to defend and explain their ideas.
    • Notice their own learning aptitude and willingness to learn new things.
    • Communicate autonomously, reflect their own actions carefully and are able to assess themselves realistically.
    • Assume responsibility because of their self-discipline and flexibility.
    • Stand out due to their enthusiasm, sense of duty and reliability.
    • Advance their enthusiasm and affect their willingness to learn new things

Lectures Method



Birkmose/Neville/Sorensen, The European Financial Market in Transition, 1st ed. 2012, Wolters Kluwer,
ISBN: 978-90-411-3360-1

Wymeersch/Hopt/Ferrarini, Financial Regulation and Supervision: A Post-Crisis Analysis, 1st ed. 2012, Oxford University Press, ISBN: 978-0-19-966090-2

Rüdiger Veil, European Capital Markets Law (to be published 2016)

Niamh Moloney, EU Securities and Financial Markets Regulation, ISBN: 9780199664344

Exam Modalities

  • written examination


21.02.201715:15 - 16:45S10 (Fabrikweg)
07.03.201715:15 - 16:45S10 (Fabrikweg)
14.03.201715:15 - 16:45S10 (Fabrikweg)
21.03.201715:15 - 16:45S10 (Fabrikweg)
28.03.201715:15 - 16:45S10 (Fabrikweg)
04.04.201715:15 - 16:45S10 (Fabrikweg)
11.04.201715:15 - 16:45S10 (Fabrikweg)
25.04.201715:15 - 16:45S10 (Fabrikweg)
25.04.201715:15 - 16:45abgesagt/cancelled
02.05.201715:15 - 16:45S10 (Fabrikweg)
09.05.201715:15 - 16:45S10 (Fabrikweg)
16.05.201715:15 - 16:45H5 (Fabrikweg)
23.05.201715:15 - 16:45S10 (Fabrikweg)
30.05.201715:15 - 16:45S10 (Fabrikweg)
30.05.201717:00 - 18:30S10 (Fabrikweg)


  • PWW-BA-12_Law of Asset Management - VO (SS 17, bewertet)
  • PWW-BA-12_Law of Asset Management - VO (WS 17/18, abgesagt)