Master en Droit Bancaire et Financier Européen (LL.M.)

CIS (Collective investment schemes) option - 4th Semester

 


General presentation

The option Collective investment schemes (CIS), is a track of the Master in European and International Financial Law’s specialisation in European Banking and Financial Law second semester. It prepares 20 students for a legal career in the field of collective investment schemes or investment funds law.

This option provides students with a full training in UCITS Law together with European Law, Luxembourgish Law and specific further questions (notably tax Law, rules of good conducts, etc.) and a good measure of comparative Law.

With no other university offering legal training in CIS Law of comparable depth, the features of this program are unique in Europe.

CIS option is taught by around 1/3 Professors of the University of Luxembourg and around 2/3 external teachers. The presence of participants from outside the University is essential in an area where practice is essential.

 


Target group – admission

The program targets the Master in European and International Financial Law’s specialisation in European Banking and Financial Law. Good knowledge of company law is required.

Given the local labour market’s high demand the program can also be followed part-time after having obtained the Validation of Acquired Experience (VAE).

Overall 20 students of the specialisation in European Banking and Financial Law will be granted admission to the branch in CIS.

- Full time students will be granted admission following their demand and in consideration of the results they achieved during the first semester in classes concerning the CIS law.

- Part-time students have to dispose of a respective professional experience in the law of investment funds in order to obtain a VAE.

 

 


Program purpose

The option Law of the CIS will allow the students to achieve a high level knowledge in the applicable European and Luxembourgish Law as well as in certain comparative aspects. Graduates will therefore be very sought after on the labour market for collective asset management (funds management companies, banks, law firms) or academia.

To that end, the option combines class in fundamental knowledge and practical aspects of their implementation in different fields of the Investment fund law.

For their second semester of the specialisation in European Banking and Financial Law students can choose between different options, of which law of the CIS is one. Already during the first semester students follow around sixty hours of compulsory classes in European UCITS law and alternative investment fund Law. The CIS option proposes to develop and strengthen their knowledge in this area by a number of specific lessons in the summer semester.

 


Exams and Teaching units

Exams are written: Case study + dissertation

1 UE = 45 mn

360 UE (240 h) is one semester

  • Joint hours with the existing ones in the European Banking and financial law option : UE = 144 (96h magistral course)
  •  Total new hours: Total = UE 216 (144 h magistral course)

Including 36 UE (20h)  joint hours with Master European Tax Law

 


Learning outcomes 

Graduates will have a good knowledge and understanding of:

  • the mechanisms of collective fund management;
  • conducting research in the law of CIS (data bases, websites of the respective institutions, etc.) ;
  • the applicable law;
  • legal or fiscal aspects of the law of CIS;
  • conduct legal research in the law of CIS.
 


Career opportunities

CIS option grants an access to the collective investments related-profession (Management Company, custodian banks, professionals of the financial sector) law firms specialised in CIS and audit firms.
The option grants also the possibility to pursue an academic career through a PhD in Law.

 


Programme overview

  • MODULE 1 – Luxembourg CIS Law 3 ECTS
     
    • Common training with general option banking and financial law
  • MODULE 2 – Specific CIS legal regime 6 ECTS
     
    • Class 1 - Hedge funds
    • Class 2 - Private equity funds
    • Class 3 - Real estate funds
    • Class 4 - Pension funds
    • Class 5 - Ethical funds, Islamic funds, solidarity funds etc.
  • MODULE 3 -  Comparative Law 9 ECTS
     
    • Class 1 Comparative banking and financial law (common class with general option banking and financial law)
    • Class 2 Comparative CIS Law 
  • MODULE 4 – UCITS Tax Law 3 ECTS
     
    • Together with M2 international Tax Law
  • MODULE 5 – Code of Conduct 3 ECTS
     
    • Class 1 : CIS and criminal law
    • Class 2 : Deontology – Code of conduct for investment funds
  • MODULE 6 – Portfolio management  6 ECTS
     
    • Class 1 – Portfolio management – Finance
    • Class 2 – Individual portfolio management Law

Kontakte

Isabelle Riassetto

Professor in charge