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LL.M. CONCENTRATION IN INTERNATIONAL FINANCE


For the tenth year, Harvard Law School is offering its LL.M. students the opportunity to take a specially designed series of courses in a single concentration: international finance. Students successfully completing the Concentration will receive a transcript notation to that effect.

The subject of international finance is increasingly important to lawyers given the growing globalization of financial markets. The sequence of courses will give students the background they need for a specialized practice or policy making role in the field. The Concentration will be organized around a year-long 2-credit seminar in International Finance, taught by Professor Hal S. Scott, the Director of the Concentration. The course sequence and seminar will link students who share a common interest.

Supporting participants in the Concentration will be the Program on International Financial Systems (PIFS), directed by Prof. Scott. PIFS conducts the highest quality international research, provides an international forum for exchange of ideas, gives public policy advice to governments, and educates international lawyers. Some opportunities to work as research assistants with PIFS may be available to students in the concentration. For more information on PIFS, please see below:

PIFS Description (pdf)
http://www.law.harvard.edu/programs/pifs

A description of the concentration seminar (course number 95810) can be found in the Preliminary Registration Bulletin (the Bulletin), available on line at: http://www.law.harvard.edu/academics/registrar/Bulletin/bindex.htm. The 2-credit seminar requires a paper. Students choosing to write a Long (75-100 pp.) LL.M. Paper in conjunction with the Seminar will receive a total of 4 credits: 2 for the seminar and 2 for the LL.M. Paper. Many of these papers have been published and have made major contributions to the field.

Prominent speakers give Guest Lectures at the Seminar. Last year the speakers included Sir Callum McCarthy, Chairman of the U.K.’s Financial Services Authority and William Donaldson, former Chairman of the SEC. In the coming year, we expect the speakers to include Christopher Cox, current Chairman of the SEC and Clara Furse, the CEO of the London Stock Exchange.

In addition to the International Finance seminar, students participating in the Concentration must also complete the following course of study during the year:

  • Capital Market Regulation (Spring) (2 credits) (Scott and Glauber)
  • Securities Regulation (Fall or Winter) (3 credits) (Scott or Ferrell)
  • International Finance (Spring) (3 credits) (Scott)
  • We recommend that students take one more course at the Law School, or possibly elsewhere at Harvard, that is financial or related to finance. We consider many second and third year courses at the Law School to be appropriate. These include corporate finance, commercial law, bankruptcy/reorganization, trade law, certain tax courses, some law and economics courses, courses on financial regulation, and comparable courses elsewhere at the University. Students are encouraged to take at least one course outside the finance area. Participation in the Concentration will satisfy the "primary" course requirement for international students. Students also should ensure that they satisfy all other requirements for the LL.M. degree.

    Admission to the seminar and the Concentration will be granted only with the permission of Profs. Jackson and Scott. If you are interested in pursuing this Concentration, you are encouraged to complete and return the attached Application Form to the Graduate Program office by the last week of July 2008. The Application Form requires you to provide to the Concentration directors a copy of your application to the LL.M. Program. Since admittance to the Concentration is not guaranteed, you must also complete and return a normal Course Selection Form, if you have not done so already. A briefing about the Concentration will take place early in the week of August 28, 2008. Applications will be accepted up until August 31, 2008. Decisions as to admission to the Concentration will be announced Monday, September 1, 2008.

    International Finance Concentration Application Form (pdf)

     


    PROGRAM ON INTERNATIONAL FINANCIAL SYSTEMS PRIZE

    Established by the Program on International Financial Systems at Harvard Law School. The prize, awarded annually, provides $2,500 for the best paper written in that particular academic year in the Seminar on International Finance.
     


    Select Papers from the Seminar in International Finance

    IF-LL.M. Concentration Students

     


    Cleary Gottlieb Steen & Hamilton Guest Lecture Series of the International Finance Seminar

    Upcoming seminar speakers for the 2006-07 academic year include:

    3/12/07 Tony Neoh Barrister-at-Law, Anthony Neoh, SC
    2/12/07 Marshall N. Carter Chairman of the NYSE
    11/20/06 Chip Poncy Director of Strategic Policy at the Office of Terrorist Financing and Financial Crime
    11/13/06 Randal Quarles Under Secretary for Domestic Finance
    10/19/06 Hiroshi Watanabe Vice Minister of Finance for International Affairs of Japan
    10/19/06 Yasuhisa Shiozaki Senior Vice Minister for Foreign Affairs of Japan
    10/16/06

    Luigi Zingales

    Robert C. McCormack Professor of Entrepreneurship and Finance, University of Chicago Graduate School of Business


    Past speakers* include:

    David Aufhauser

    (General Counsel, US Department of the Treasury) on financing terrorism

    G.N. Bajpai

    (Chairman Emeritus, Securities and Exchange Board of India) on legislative changes in India and resurgence of the financial markets

    Frits Bolkestein

    (Commissioner, Internal Market, Taxation and Customs Union, European Union)

    Lee C. Buchheit

    (Senior Partner, Cleary, Gottlieb, Steen and Hamilton) on issues concerning sovereign debt default

    Charles Calomiris

    (Henry Kaufman Professor of Financial Institutions, Columbia Business School and Co-director of AEI's Financial Deregulation Project) on regulation of
    bank capital

    Gerard Caprio

    (Director, Financial Strategy and Policy Group, The World Bank) on the implemenation of international standards

    Roberto Dañino

    (Senior Vice President and General Counsel, The World Bank Group) on The World Bank: A Lawyer's Perspective

    Howard Davies

    (Chairman, Financial Services Authority) on the FSA’s consolidated approach
    to regulation

    William Donaldson

    (Former Chairman, U.S. Securities & Exchange Commission) on an SEC challenge: to provide quality oversight and investor protection in an increasingly competitive global environment

    Jerry Hawke

    (Comptroller of the Currency) on the future of Basel II

    John G. Heimann

    (Chairman, Financial Stability Institute of the Bank for International Settlements, formerly Chairman, Global Financial Institutions Group, Merrill Lynch and U.S. Comptroller of the Currency) on the role of the Institute

    Michael Helfer

    (General Counsel, Citigroup) on international implications of the PATRIOT Act

    Daryll Hendricks

    (Senior Vice President, Federal Reserve Bank of New York) on the Basel Committee’s effort to formulate new capital adequacy standards

    Stefan Ingves

    (Director, Monetary and Exchange Affairs Department, IMF)   on how the IMF monitors compliance with the international standards, as part of the International Financial Architecture efforts of the G-10 and G-22 countries

    George Kaufman

    (John F. Smith, Jr. Professor of Finance and Economics, Loyola University Chicago) on systemic risk

    Edward Kwalwasser

    (Group Executive Vice President, Regulation, NYSE) on securities market fragmentation

    Christian Leuz

    (Harold Stott Term Assistant Professor of Accounting, The Wharton School) on Cross Listings and SEC Deregistrations

    Joseph Markoski

    (Partner, Squire, Sanders & Dempsey) on prospects for commercial law
    reform in Iraq

    Sir Callum McCarthy

    (Chairman & Acting Chief Executive, The Financial Services Authority of the UK) on how should international financial services firms be regulated?

    Alexander Schaub

    (Director-General, Internal Market DG, European Commission) on financial Services in the global context: a new challenge for regulators and supervisors

    Takumi Shibata

    (Senior Managing Director, Nomura Holdings, Inc.; President & CEO, Nomura Asset Management Co., Ltd.) on improving capital markets on the other side of the Pacific: what regulatory and structural changes should they pursue?

    Lawrence Summers

    (President of Harvard and former Secretary of the Treasury)

    Georges Ugeux

    (Former Group Executive Vice President, International, NYSE) on current issues regarding international securities

    Virginia Wise

    (Lecturer on Law for Legal Research, Harvard Law School)

    Philip Wood

    (Senior Partner, Allen & Overy and Visiting Professor, Faculty of Laws, Queen Mary and Westfield College) on global financial law: U.S. vs. Europe vs. China


    *Titles represent the position held at the time of the seminar lecture.