Over the course of a year’s study, the LL.M. in Banking Law and Financial Markets & Institutions covers the knowledge, techniques and practical work tools necessary so that the participants can improve their knowledge and capability for decision-making in the area of law and the legal framework applicable to financial activity. The program is designed so that the participants acquire a sound knowledge of the basics of banking law, the institutions and the financial markets (Spanish and international) and financial instruments.
The aim of the Program is to help the participants, and the organisations employing them, to improve their managerial and professional performance. During the year of training at CUNEF, a solid theoretical and practical base in the legal-banking environment will be acquired, as well as the analytical tools and aptitudes necessary to facilitate, develop and familiarise the participants with legal-banking decision-making in their respective fields.
Students satisfactorily completing and passing all the academic requirements of the program (60 ECTS) will receive the qualification of LL.M. in Banking Law and Financial Markets & Institutions from the Complutense University of Madrid (official Master’s degree). Depending on the specialisation selected, they will also receive CUNEF’s own qualification (non-official) of Master in Banking Law, Legal Advice and the Financial Sector and the Master in Banking Law, Tax Consultancy and the Finance Sector.
The LL.M. in Banking Law and Financial Markets & Institutions (official degree) is designed so students acquire the following competences:
Basic
BS6 – Possess and understand the knowledge providing the basis or opportunity for the original development and/or application of ideas, often in a research context.
BS7 – Students must be able to apply the knowledge acquired and their problem-solving ability in new or unfamiliar environments within broad (or multidisciplinary) contexts connected with their area of study.
BS8 – Students must be able to integrate knowledge and deal with the complexity of formulating judgements based on information which, being incomplete or limited, includes reflections on social and ethical responsibilities tied to the application of their knowledge and judgements.
BS9 – Students must be capable of communicating their conclusions (and the knowledge and reasoning on which they are ultimately based) to specialist and non-specialist audiences in a clear, unambiguous manner.
BS10 – Students must possess the learning skills allowing them to continue studying in a manner which must to a great extent be self-directed or autonomous.
General
GS2 – Ability to analyse, summarise and form opinions based on the information available.
GS3 – Ability to organise, plan and make decisions.
GS4 – Ability to communicate and work in a team.
GS1 – Ability to resolve problems in new and unfamiliar environments.
3.2 Transversal competences
TS1 – Ability to search for information and research and continuous learning.
TS2 – Ability to work in high pressure environments.
TS3 – Ability to apply knowledge in a practical manner.
TS4 – Use information and communications technologies.
TS5 – Ability to lead and maintain an entrepreneurial spirit.
3.3 Specific skills
SS1 – Understand and comprehend at an advanced level the specific issues and specialist legal regulations governing Banking Law and Stock Market Law, and how they relate to Private Law as a whole.
SS2 – Develop students’ capacity to interpret and understand the basic principles of the economy, markets and financial products, as applied to lending institution operations.
SS3 – Identify and understand specialist sources of legal information in banking and market law and financial institutions.
SS4 – Equip students with the methodological skills needed to set about resolving specialist legal problems in the field of Banking and Stock Market Law.
SS5 – Understand and comprehend at an advanced level the specific legal issues and regulations connected with tax law and financial operations (Tax Advice and Financial Sector specialisation).
SS6 – Understand and comprehend at an advanced level the specific legal issues and regulations connected with legal advice and the activity of financial institutions (Legal Advice and Financial Sector specialisation)
The LL.M. in Banking Law and Financial Markets & Institutions runs for one academic year from September to July, with evening classes from Monday to Friday from 4.00 pm to 9.00 pm and has the following content:
| Area | ECTS |
| Regulation and legislation of Markets and Financial Institutions | 24 ECTS |
| Economy and Financial System | 12 ECTS |
Specialisation (one of the following specialisations is studied):
| 12 ECTS |
| Practical activities | 6 ECTS |
| Final Degree Project (FDP) | 6 ECTS |
| Total | 60 ECTS |
The program is complemented by the following teaching activities:
| 1st TERM | 2nd TERM | ||||
| Core Subjects | ECTS | Teaching guide | Core Subjects | ECTS | Teaching guide |
| Law and regulation of credit institutions (I) Banking Law (I) | 3 | Law and regulation of credit institutions (II) Banking Law (II) | 3 | ||
| Law and regulation of Stock Markets (I) | 3 | Law and regulation of Stock Markets (II) | 3 | ||
| Banking contracts | 6 | Specific legal regulations and financial institutions: | 6 | ||
| Financial Economics: | 6 | Legal aspects of M&A | |||
|
| ||||
|
| ||||
| Banking sector and accounting | 6 | ||||
| Total | 18 | Total | 18 | ||
| Optional subjects (Legal Advice and financing) | ECTS | Teaching guide | Optional subjects (Legal Advice and financing) | ECTS | Teaching guide |
| Collective investment undertakings and securitisation | 3 | Special financing operations | 3 | ||
| Stock markets and brokerage | 3 | Regulation of investment service companies | 3 | ||
| TOTAL | 6 | TOTAL | 6 | ||
| Optional subjects (Tax Law and Accounting) | ECTS | Teaching guide | Optional subjects (Tax Law and Accounting) | ECTS | Teaching guide |
| Tax law and banking operations | 3 | Advice and taxation in financial operations | 3 | ||
| Accounting principles and financial sector | 3 | Risk management and financial sector | 3 | ||
| Total | 6 | Total | 6 | ||
| FDP and Practical Placements | ECTS | ||||
| Professional placements (**) | 6 | ||||
| Final Degree Project (FDP) | 6 | ||||
| Total | 12 | ||||
(*) The official studies plan is completed with a series of subjects, seminars and other activities that are obligatory in order to receive the qualification issued by CUNEF.
(**) The professional practical placements (at least 150 hours) are carried out at companies or institutions that have signed the corresponding educational co-operation agreement wherever possible. CUNEF has a wide range of educational cooperation agreements in place for this purpose with institutions, legal practices, organisations and businesses in a range of industrial sectors. In any event, where the placement is performed depends on the agreements in place at any given time, and the offers announced by the partner companies and institutions. In addition to the criteria established in selection processes by each legal practice, company or institution at any given time. CUNEF does not decide who or where; these decisions are instead taken by the legal practices, companies or institutions. It is therefore their responsibility to find a company or institution where students can complete their placement. CUNEF does, of course, offer active advice and support. The students can potentially apply for the recognition of the practical placement subject if they can demonstrate prior professional experience or placements.
The LL.M. in Banking Law and Financial Markets & Institutions has been designed to allow participants to strengthen the knowledge, skills and abilities required in order to succeed in their future professional practice. This is therefore a professionally focused postgraduate program combining academic rigour with the necessary practical emphasis on business and financial conduct. The various methodologies employed during the different subjects are designed to ensure that this theoretical/practical focus is a constant reality in the learning model for all subjects.
During the master’s program the participants use the following learning methodologies in succession:
The grading system is based on continuous assessment performed throughout the subject, taking into account such aspects as active participation in class, practical work and studies of practical cases and circumstances. The lecturers thus grade participants in accordance with the different teaching exercises and the final objective test in each subject. Attendance is mandatory for all subjects, and unjustified absence from more than 10% of sessions in any given subject could lead to a student being failed. All participants must successfully complete 100% of the subjects, as well as the final master’s project. Participants will need to be familiar with the use of information technologies, in particular the use of Excel (or other similar spreadsheets).
Professional performance in the banking law field requires professionals capable of assuming the managerial decision-making process from a dual perspective by analysing data and professional challenges with quantitative sensitivity and financial judgement, the functional perspective, and integrating decision-making within an established corporate policy, the necessary strategic vision. At CUNEF we are aware of the functional and strategic relevance that legal decision-making plays in the performance of companies and financial institutions. The University Master in Banking and Market Law and Financial Institutions (MDB) will help you acquire through an intense year of study and applied work, in addition to academic knowledge, real-life work dynamics and practical experience necessary to successfully drive forwards your professional career and enhance your managerial performance in the financial sector.
The goal of the postgraduate programs in law at CUNEF (master’s and executive programs) is to help the participants, and their employer organisations, to strengthen their executive and professional performance. During their year of teaching at CUNEF they acquire a sound theoretical and practical basis in the world of banking and financial law, along with the analytical tools and skills required to facilitate, develop and familiarise participants with financial decision-making in their respective operational spheres.
The LL.M. in Banking Law and Financial Markets & Institutions is intended for Law graduates with less than 5 years of professional experience who wish to begin or further their professional career in a financial context.
The student profile for the 2018-2019 academic year is as follows:
The syllabus for the LL.M. in Banking Law and Financial Markets & Institutions includes the elective subjects corresponding to each of the two established specialisations (Legal Advice and Financial Sector, and Tax Advice and Financial Sector). The students will choose one of these specialisations when they enrol, and will need to enrol for all of the credits comprising the chosen specialisation (12 ECTS). Students cannot take more than one specialisation. The specific specialisation subjects are supplemented by seminars and other activities.
The two specialisations available for the Master in Banking and Market Law and Financial Institutions (MBL) are:
The lecturers on the LL.M. in Banking Law and Financial Markets & Institutions are expert investigators and professionals from the world of banking law. During the year of the master’s programme they will make an active contribution to ensure that your performance, learning and conceptual ideation are clearly strengthened by your time studying with us. The lecturers combine their teaching, research and educational vocation with professional and executive practice in their respective operational spheres.
Academic staff for the LL.M. in Banking Law and Financial Markets & Institutions (2018-2019)
| Faculty |
| Prof. Dr. Jesús Alemany |
| Prof. José Christian Bertram. |
| Prof. Dr. Santiago Carbó |
| Prof. Dr. Miguel Angel Iglesias |
| Prof. Dr. Javier Galán |
| Prof. Dr. Javier García de Enterría Lorenzo Velázquez |
| Prof. Dr. Fernando García Martínez |
| Prof. Dr. Mariano Lasarte |
| Prof. Dr. Manuel López Martínez |
| Prof. Dr. Rafael Mínguez Prieto |
| Prof. Juan Manuel del Moral Calvo |
| Prof. Dr. Enrique Moreno de la Santa |
| Prof. Dr. Ubaldo Nieto Carol |
| Prof. Dr. José David Ortega |
| Prof. Dra. Marta Ortiz Márquez |
| Prof. Augusto Adrián Piñel Rubio |
| Prof. Rosario Rodríguez Suárez |
| Prof. Ignacio Santillán Fraile |
| Prof. Dr. Francisco Javier Sosa Álvarez |
| Prof. Pablo Táuler San Miguel |
| Prof. Dra. María del Carmen Tejada Ximénez de Olaso |
| Prof. Dra. Sara Ugena |
| Prof. Dra. Eva Recamán |
| Prof. Pablo Ulecia Rubio |
| Prof. Dr. Francisco Uría Fernández |
| Prof. Dr. Guillermo Velasco Fabra |
| Prof. Javier Zapata |
The list of academic staff presented here is complemented by external collaborating lecturers, speakers at seminars, workshops or professional certifications, guest speakers at conferences and lecturers from other national and international institutions. These include:
| Prof. Dr. Joaquín Maudós |
| Prof. Dr. Miguel González-Blanch |
CUNEF has a close and active relationship with the business and professional world. The Careers Service actively manages the company professional placement[1], job offers, as well as the organisation of complementary seminars and activities, the main aim of which is to provide CUNEF students with all the necessary tools and skills, and also the best possible opportunities, to facilitate their incorporation into their first job and improve their professional development.
CUNEF students have the chance to take part in professional guidance activities including the following options:
[1] The professional practical placements (at least 150 hours) are carried out at companies or institutions that have signed the corresponding educational co-operation agreement wherever possible. CUNEF has a wide range of educational cooperation agreements in place for this purpose with institutions, legal practices, organisations and businesses in a range of industrial sectors. In any event, where the placement is performed depends on the agreements in place at any given time, and the offers announced by the partner companies and institutions. In addition to the criteria established in selection processes by each legal practice, company or institution at any given time. CUNEF does not decide who or where; these decisions are instead taken by the legal practices, companies or institutions. It is therefore their responsibility to find a company or institution where students can complete their placement. CUNEF does, of course, offer active advice and support. The students can potentially apply for the recognition of the practical placement subject if they can demonstrate prior professional experience or placements.
Day-to-day teaching activities are supplemented over the year of the master’s program by an additional range of activities allowing participants to extend their knowledge, underpin their professional focus, gain on-the-ground experience of professional practice, or try out for themselves initiatives and proposals developed by the leading experts in professional financial practice. Master in Banking and Market Law and Financial Institutions includes the following complementary activities:
Specialist in Banking and Financial Advice program
The CUNEF Master in Banking and Market Law and Financial Institutions (MDB) includes an additional complementary (not obligatory) training period so that students can obtain the Specialist in Banking and Financial Advice certificate, in accordance with the new requirements demanded by the Spanish National Securities Market Commissions (CNMV) in order to hold out financial advice positions in Spain.
The Specialist in Banking and Financial Advice training and certification program developed by CUNEF (University College for Financial Studies) covers eleven subjects with a study load equivalent to 200 credits. The study program includes eleven subjects studying the markets, products and investment instruments that financial institutions offer their clients. It also studies financial consultancy functions.
| Specialist in Banking and Financial Advice program | No. of hours |
| Macroeconomic analysis and the financial sector | 10 hours |
| Financial Markets | 10 hours |
| Investment products: fixed income | 20 hours |
| Investment products: equities | 20 hours |
| Investment products: structured products | 20 hours |
| Investment products: mutual funds | 20 hours |
| Investment products: savings products | 20 hours |
| Specific regulations and regulatory compliance | 20 hours |
| Tax advice for financial operations | 20 hours |
| Investment portfolio management | 20 hours |
| Financial planning and financial consultancy | 20 hours |
| Total | 200 hours |
The program study load is equivalent to 200 learning hours, of which 70% has a theoretical-conceptual focus and the remaining 30% a practical-applied approach. The training program alternates synchronous class-based sessions with online sessions, with “e-Learning” training actions in which the participants interact with the various contents of each subject (technical notes, virtualised content, videos, etc.) in a flexible manner using CUNEF’s online learning platform, which allows each participant to adapt their hours of dedication to their particular circumstances. The online pedagogical methodology is based on the schedule for each learning module in which the participants interact with the tools with study hours and individual work. Through different methodologies and learning approaches, participants consolidate their knowledge and competences in relation to the subjects studied. The training program follows a sequential order allowing students to manage the study sessions (class-based and/online).
Lorem ipsum dolor sit, amet consectetur adipisicing elit. Animi fugiat dignissimos numquam adipisci sed et, tenetur impedit voluptatum iusto saepe rerum ea facere obcaecati minus quis quae nihil reiciendis eum?
The aim of the IQAS is to ascertain in detail the development of official qualifications in accordance with the terms set out in the qualifications verification memorandum. Each year actions are taken to underpin the strengths of the qualification and the institution, to identify and minimise areas for improvement and to ensure proper development of the terms set out in the qualifications verification memorandum. Due interaction with all stakeholders involved in the development of the qualification is likewise ensured so as to enhance quality standards and satisfaction with the qualification.
Year of implementation: 2013
Information on the official status of the qualification (‘RUCT’).
Annual monitoring report of the Master
Spanish Universities Act 6/2001, of 21 December 2001, and the reform applied to this by Act 4/2007, of 12 April 2007, Article 31 of which addresses Quality Assurance , lays down the need to establish quality assurance criteria to facilitate evaluation, certification and accreditation, viewing quality assurance as an essential purpose of university policy. Royal Decree 1393/2007, of 29 October 2007, amended by Royal Decree 861/2010, of 2 July 2010, establishing the regulations governing official university education, clearly indicates that “Quality Assurance Systems, which form a part of the new course curricula, likewise provide the basis for the new educational structure to function efficiently and to generate the trust on which the process of qualification accreditation relies“. The establishment of a Quality Assurance System is thus included in the new official university education regulations as a condition of the process of qualification verification and accreditation.
CUNEF has defined the structure of its Internal Quality Assurance System, known as the ‘Sistema Interno de Garantía de Calidad’ or ‘SIGC’, and the procedures governing this function, in accordance with the demands of Royal Decree 1393/2007, amended by Royal Decree 861/2010.
The SIGC allows CUNEF to ascertain the development of its official qualifications, in support of transparency, the inclusion of continuous improvement strategies and the systematic organisation of actions effectively contributing to qualifications quality assurance and efficiency in processes to appraise verification, monitoring and renewal of mandatory official qualifications accreditation.
The CUNEF SIGC has the following structure: Degree Quality Committee, Master’s Program Quality Committee and Doctorate Quality Committee, Technical Quality Unit, Academic and Management Unit.
The Quality Committees are responsible for monitoring the implementation of the degree, master’s and doctorate programmes taught at CUNEF. These Committees analyse and appraise the development of the qualifications, making proposals for review and improvement that will be submitted to the Academic Committee and CUNEF Management to be taken into account where applicable.
These committees have the following responsibilities:
The Academic Committee (see composition in Table 1) is responsible for coordinating improvement proposals connected with qualifications and for decision-making in this regard. The Director of CUNEF is ultimately responsible for validating the decisions reached by the Academic Committee. Each Quality Committee comprises:
The Master’s Quality Committee is currently in operation (see composition in Table 2). It oversees the proper development of official CUNEF qualifications, and can be sent any comments connected with the quality of qualifications via the suggestions box.
The Quality Committees meet at least twice per year and are governed by the Quality Committee Functional Regulation approved on 24 November 2014.
Master’s Program Quality Committee
| Postgraduate Quality Committee | Category |
| Luis Díaz Marcos | Postgraduate Program Director and President of the Committee |
| Alfredo Jiménez Fernández | Academic Staff Representative (UMFMI) |
| Guillermo Velasco | Academic Staff Representative (UMBL-UMALP) |
| Ricardo Queralt | Academic Staff Representative (MDS) |
| Juan Domínguez Jiménez | Academic Staff Representative (UMFMI) |
| Javier Sánchez Hernández | Admin Staff Representative. Committee Secretary |
| Faustino Miranda | Admin Staff Representative |
| Antonio Labarra Calleja | Alumni Representative (UMFMI) |
| Patricia Ciruelos Lara | Alumni Representative (UMALP) |
| René Castro de la Fuente | Alumni Representative (UMBL) |
| Elisa Valiente Rodríguez | Alumni Representative (MDSF) |
| Marcos Fernández | Alumni Representative (UMFMI) |
| Beatriz del Barrio Pérez | Alumni Representative (UMALP) |
| Álvaro Minaya Ibarra | Alumni Representative (UMBL) |
| Patricia Castán AgustínAlumni Representative (MDSF) | Alumni Representative (MDSF) |
| 14/15 | 15/16 | 16/17 | 17/18 | 18/19 | ||
| Pre-registered | 120 | 123 | 81 | 62 | 84 | |
| Admitted | 36 | 48 | 41 | 39 | 38 | |
| Demand rate (pre-registered/places) | 333,33% | 410,00% | 0,00% | 206,67% | 186,67% | |
| ICM-1 – New enrolment places offered (authorised by the UCM) | 30 | 30 | 30 | 30 | 45 | |
| ICM-2 – New enrolment | 28 | 28 | 30 | 29 | 25 | |
| ICM-3 – Percentage cover | 93,3% | 93,3% | 100,0% | 96,7% | 55,56% | |
| ICM-4 – Qualification performance rate | 98,08% | 97,80% | 95,29% | 93,86% | 93,39% | |
| ICM-5 – Degree dropout rate | 12,50% | 0,00% | 0,00% | 10,00% | 3,45% | |
| ICM-6 – Teaching Evaluation Program participation rate | 100% | 100% | 100% | 100% | 100% | |
| ICM-7 – Alumni Efficiency rate | 100,00% | 98,19% | 95,29% | 97,70% | 94,59% | |
| ICM-8 – Graduation rate | 81,25% | 93,10% | 96,42% | 90,00% | 90,00% | |
| IUCM-1 – Success rate | – | – | 95,92% | 94,55% | 98,43% | |
| IUCM-13 – Student satisfaction with the qualification | 7,5 | 8,6 | Not applicable | Not applicable | 5,54 | |
| IUCM-14 – Lecturer satisfaction with the qualification | 9 | 9,06 | 9,07 | 9,29 | 9,1 | |
| IUCM-15 – Centre Admin and Support Staff satisfaction | Not applicable | 8,84 | 7,1 | 7,1 | 7,01 | |
| IUCM-16 – Qualification Appraisal Rate | 94,88% | |||||
*ICM- Indicadores de la Comunidad de Madrid
*IUCM- Indicadores de la Universidad Complutense de Madrid
CUNEF is a highly specialised university education institution focused on the world of business management, finance and financial markets and instruments, and law. Our Degree and Postgraduate programmes set the standard in their respective fields.
To maintain this prestigious standing, CUNEF is committed to the continuous improvement of the teaching, research and services it provides as part of its quality commitment.
In accordance with its equality policy, CUNEF aims to fulfil the reasonable needs and expectations of its students, lecturers, admin and support staff, governing bodies and society at large. To this end the Centre defines the following quality objectives:
Ana Isabel Fernández Álvarez
Director of CUNEF
The Master Quality Committee meets periodically over the course of the academic year, and at least twice per year. These meetings analyse information regarding the implementation of degree studies and the data revealed by the functioning of the quality assurance system. This review and study of information serves to identify areas for improvement that the Quality Committee conveys to CUNEF Management for approval and execution together with the tasks to be undertaken to eliminate any shortcomings.
The Master Quality Committee maintains a register of quality improvements and strengths which it reviews and updates at least once per term, in accordance with the tasks being performed and the assessment of their impact.
Numerous improvement actions have been conducted since 2013 covering a wide range of aspects, resulting in managerial improvements and enhanced satisfaction among students and other stakeholders, alongside the public information made available about CUNEF itself and its academic offering, etc. Particular mention should be made by way of example of efforts to increase teaching coordination, to incorporate diploma supplements within the degree courses, to review and enhance the website and the information published there, etc.
For more specific and detailed information about how the Master Quality Committee functions and the improvement proposals made, you may contact the email address sgic@cunef.edu.
The employability of CUNEF alumni represents a variable which is analysed by the Quality Committees, serving to assess professional interest in the qualification while likewise ascertaining whether alumni have acquired the skills initially defined for the course.This analysis will allow proposals to be made to improve the qualification, or to eliminate it if the figures are below 20% for 5 consecutive years. To this end CUNEF conducts yearly surveys of alumni, asking them directly, as set out in the SIGC, whether the training they received has or has not proved useful in the pursuit of their profession, and their professional position before (if any) and after completing the qualification.CUNEF uses this information to conduct a study of whether the study curricula are appropriate or not, as well as the employability or professional prospects of alumni.
If you would like to contribute to improving everything we do here at CUNEF, you can use this channel to contact us and tell us about your suggestions and complaints and also to tell us what we are doing well. This channel is open to the whole educational community (students, lecturers, administration and services personnel, past students, future students, employers and society in general).
You can send us your comments anonymously or in person. This communication channel (Improve CUNEF) falls under the CUNEF Internal Quality Assurance System. All opinions (anonymous or personalised) are considered and contribute to CUNEF’s continual improvement processes.
