ESF:MPP_PRFI Law and Finance - Course Information

MPP_PRFI Law and Finance

Extent and Intensity

0/3/0. 5 credit(s). Type of Completion: zk (examination).

Teacher(s)

Mgr. Ing. Filip Hampl, Ph.D., LL.M. (seminar tutor)

Guaranteed by

JUDr. Jindřiška Šedová, CSc.
Department of Law – Faculty of Economics and Administration
Contact Person: Lenka Hráčková
Supplier department: Department of Law – Faculty of Economics and Administration

Timetable of Seminar Groups

MPP_PRFI/01: Wed 10:00–11:50 VT202, F. Hampl
MPP_PRFI/02: Wed 12:00–13:50 VT202, F. Hampl
MPP_PRFI/03: Wed 8:00–9:50 VT202, F. Hampl

Prerequisites

The course requires basic knowledge and skills in the areas of:
- theory of law (financial market regulation)
- company organization
- basics of private law (corporate law, regulation of contractual relations, consumer law)
- administrative procedure (general regulation of the administrative procedure and special regulation for administrative procedure - Czech National Bank, Czech Trade Inspection Authority, etc.)
- European law
This knowledge can be acquired in the following courses:
Introduction to Law, Corporate Economics, Business Law 1, Administrative Law and Administrative Process, and European Law.

Course Enrolment Limitations

The course is offered to students of any study field.

Course objectives

The course is conceived as an introduction to the issue of the legal protection of persons in financial law relations in which these persons are in a weaker/unequal position. The aim of the course is to introduce students into the public law consumer protection on the financial market from the perspective of substantive and procedural law, to define administrative and tax proceedings and to present the possibilities of individual legal protection within these proceedings. Attention is also paid to the judicial protection, in particular, protection provided under the administrative justice system. The course provides students with a legal basis for further courses in the follow-up studies at the Faculty of Economics and Administration MU.

Learning outcomes

After completing the course students will be able to:
1. to be familiar with the legal framework for the protection of consumers of financial services and to recognize the differences in private or public law;
2. to clarify the basic theoretical basis of the legal regulation of investor protection on the Czech financial market;
3. to formulate basic principles of legal responsibility in the field of investor protection in individual segments of the financial market;
4. to make competent decisions to enforce legitimate claims resulting from the protection of the weaker party in general and in the special case of the consumer;
5. to be familiar with the basic institutes of administrative proceedings and tax administration (tax proceedings);
6. to apply means of protection within the framework of administrative proceedings and tax administration (tax proceedings).

Syllabus

• Seminars:
• 1. Introductory seminar. Systematics of law. Concept, basic principles and differentiation of private and public law. Distinguishing between substantive and procedural law and the importance of procedural law for the substantive law realization. Importance of financial regulation. Revision of basic legal terms. Sources of legal information.
• 2. Introduction to consumer protection law. Private and public consumer protection law. Sources of consumer protection law and legal principles of consumer protection (constitutional law, civil law, administrative law and criminal law principles of consumer protection). Definition of basic terms. Revision of consumer protection under the Civil Code.
• 3. Public consumer protection on the financial market under the Consumer Protection Act and the Consumer Credit Act. Unfair business practices. Aggressive business practices. Misleading business practices. Information responsibilities. Possibilities of public law protection of the consumer. Supervisory Authorities. Special legislation related to consumer credit.
• 4. Public law protection of investors on the financial market regarding investment services and fund investments I. Legal regulation of the capital market business. Basic institutes and systematics. Fund investing and investor legal protection. Supervisory Authorities.
• 5. Public law protection of investors on the financial market regarding investment services and fund investments II. The importance of European Union law for investor protection related to investment services and fund investing. MiFID II, MiFIR, MAR, CSMAD. Case studies.
• 6. Mid-term assessment test.
• 7. Introduction to administrative proceedings. Administrative proceedings as a procedural realization of substantive public law regulation (not only) of consumer protection. The architecture of legal regulation governing administrative proceedings, subsidiarity of the Rule of Administrative Procedure. Basic principles of administrative proceedings. Characteristics of administrative proceedings (initiation, evidence, decision, remedies). Communication with the administrative body.
• 8. Special Administrative Proceedings conducted by the Financial Arbitrator of the Czech Republic (FACR). Legislation. Scope of the FACR. Relationship between FACR proceedings and arbitration. Characteristics of proceedings conducted by FACR (initiation, evidence, decision, remedies). Case studies.
• 9. Introduction to the tax administration and tax proceedings. Tax law in the system of law. Legal regulation of the tax administration and tax proceedings and its relation to Rule of Administrative Procedure and administrative proceedings. Basic terms and institutes of the tax administration.
• 10. Means of individual rights protection in the tax administration. Means of individual rights protection offered by the Tax Code (in comparison with the Rule of Administrative Procedure). Proper and extraordinary remedies and supervisory means. Chosen other means of individual rights protection offered by the Tax Code.
• 11. Tax administration case studies.
• 12. Judicial protection against the administrative decision. Protection provided under the administrative justice system. Protection under Part Five of the Civil Procedure Code. Case studies.
• 13. Discussion.
• Students of this course use the services of the following web portal www.pravoesf.cz during the classes. This portal is an outcome of an Education for Competitiveness Operational Programme project called Innovation of law education within the study fields of Finance and Financial Management at the Faculty of Economics and Administration, Masaryk University, project identification: CZ.1.07/2.2.00/15.0189.
• Interactive study materials were created for the purpose of education within the course Law and Finance. These materials can be found at the web portal pravoesf.econ.muni.cz. Law and Finance study materials are designated for self-study, which is considered as a substitute for standard lectures, and for preparation for seminars, where you will solve practical tasks independently. Please, also pay attention to the study materials of the following courses: Introduction to Law, Business Law 1, Administrative Law and Administrative Process, and European Law. There are basic legal concepts explained in the above-mentioned study materials. Knowledge of these concepts is assumed for understanding the issues of the Law and Finance course, which is conceived as a cross-section of several areas of law. Thanks to that you will better understand the wider context of consumer protection in financial markets in the Czech Republic and also the risk connected with financial services.
• In case of your interest in more detailed information, you can use the service of the legal information system (ASPI) accessible from the computer laboratories and the library of the Faculty of Economics and Administration. In these cases, access to the ASPI system is enabled by clicking on the ASPI icon on the desktop of the computer. Since the autumn semester of 2013, any student of the Faculty of Economics and Administration can also use the possibility of remotely accessing the ASPI. In that case, the ASPI is accessible via the internet from a remote desktop. Detailed description of how to login is posted on the main website of the Faculty of Economics and Administration.

Literature

required literature
• Šedová, J., Hampl, F. Studijní text “Právo a finance”. Terminálový server ESF MU (Návod na připojení na terminálový server je uveden zde: https://www.econ.muni.cz/it-sluzby/terminalovy-server-orion).
• ASPI (Právní informační systém) - Návod na připojení na terminálový server je uveden zde: https://www.econ.muni.cz/it-sluzby/terminalovy-server-orion.

recommended literature
• Foltas, T. Studijní texty „Základy práva", "Správní proces“. ESF MU. Portál výuky právních předmětů ESF: Webová adresa: http://pravoesf.econ.muni.cz/.

Teaching methods

Seminars, solving case studies, self-study, mid-term assessment test, elaboration of written assignment.

Assessment methods

The course is concluded with a written exam. To pass the written exam students need to get at least 60% points. The requirements for admission to the exam are seminar attendance (max. 3 unexcused absences), positive evaluation of the completed written assignment, successfully passing mid-term assessment test (i.e. at least 60% points). The overall evaluation of the course is given by the sum of points from the written exam (80% of the final grade) and the mid-term assessment test (20% of the final grade). In addition, students can be rewarded with a given set of bonus points for their active seminar participation during the semester. These bonus points are added to the overall evaluation of the course if the written exam is successfully passed (i.e. min. 60% points).

Caution: "Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams (credit tests) will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the exam (credit test) by awarding grade "F" in the Information System, and the Dean will initiate disciplinary proceedings that may result in study termination."

Language of instruction

Czech

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
General note: Nezapisují si studenti, kteří absolvovali předmět PPPAFI.

Information about innovation of course.

This course has been innovated under the project "Inovace studia ekonomických disciplín v souladu s požadavky znalostní ekonomiky (CZ.1.07/2.2.00/28.0227)" which is cofinanced by the European Social Fond and the national budget of the Czech Republic.

• Enrolment Statistics (Autumn 2020, recent)
  
• Permalink: https://is.muni.cz/course/econ/autumn2020/MPP_PRFI