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Numerous rapid changes in the global financial markets over the past few decades have dramatically altered the requirements for and contents of legal study. With the development of new financial instruments such as derivatives and international hedge funds as well as entirely new requirements for financial regulation, central banking and insolvency law, there is an urgent need for professionals to be trained in the qualitatively new and rapidly evolving areas of legal practice.
The LL.M. Finance degree program at the ILF will train you not only to deal with but also to excel in this increasingly important area where the worlds of international law and global finance meet.
The LL.M Finance program may be done on a part-time basis by completing the regular one-year LL.M. Finance program over a period of two years. The purpose of such an arrangement is to allow students to work part-time during their studies, thereby financing their studies at the ILF.
The program overcomes the traditional separation of the academic disciplines of law and business/economics. The program teaches you aspects of both law and business/economics and focuses on their intersection and interplay. Thus, you will gain the competence and insights to appreciate the legal framework, constraints on economic decisions and economic consequences of legislative directives and legal practice. You will be taught by prominent academics and leading practitioners from both areas of expertise.
The program is international in every respect: our curriculum, our faculty and our students. The courses offered by the LL.M. Finance program include European and international corporate law, the law on capital markets and securities as well as topics on European monetary policies and central banking. The LL.M. Finance degree program also offers a wide range of courses on specialized topics such as Accounting, Insurance Law and Law of Business Taxation. Our large faculty comes from over ten countries in Europe and the United States. In addition, our students come from all over the world generally from more than 25 countries each year.
Interaction between Theory and Practice
The curriculum will enable you to gain both a theoretical understanding as well as a practical insight into the specific requirements of banks and corporations, international law firms and accounting and auditing firms, the European Central Bank and Germany's Bundesbank.
This is because in addition to outstanding academics, the majority of our faculty consists of top practitioners from the fields of law, banking, central banking and financial regulation.
As an integral and important part of the LL.M. Finance degree program, you will also have the valuable opportunity to take part in a six-weeks internship at one of the ILF's various sponsors from the financial, regulatory, central banking, international law and accounting areas.
a) Coursework - 10 courses 40 credits
If your first degree is in law: At least 4 of the required 10 courses must be in the field of business or economics.If your first degree is in business or economics: At least 9 of the required 10 courses must be in the field of law.
b) Master´s Thesis 15 credits
c) Internship 5 credits
Students must submit a thesis of approximately 50 text pages on a subject agreed in consultation with the student´s thesis adviser. The candidates should show in the dissertation that they can carry out independent academic work and present the results appropriately. The final thesis will be reviewed by the student´s thesis advisor and by one additional examiner according to the regulations of the program.
Recent LL.M. theses have included subjects such as financial relationships in the European System of Central Banks (ESCB), legal and regulatory issues of credit derivatives and the structuring of venture capital or private equity funds for the German market. Theses could potentially be on any subject related to course and/or internship work.
The LL.M. Finance degree program includes a two-month internship. The internship experience gives students an opportunity to test and deepen their understanding of the coursework. Thanks to our location in Frankfurt and the high caliber of our sponsors, students benefit from such unique internship opportunities. Internships are offered by leading international law firms in Frankfurt, major banks, accounting firms, the German financial regulatory body BaFin, the German Bundesbank, and the ECB. Internships expose students to the working environment and professional expectations of leading firms and institutions. The valuable opportunity to form contacts for potential career development is also highly appreciated by students.
Internships are usually undertaken during the break between the winter and summer semesters (i.e., February/March). It is, however, possible to organize an internship during the summer break by prior arrangement.
Students, in consultation with the ILF, may apply to the law firm, financial institution or other organizations of their choice. The ILF assists students in finding suitable internship positions. Positions are awarded on a competitive basis, with student initiative and interest being the primary criterion for placement. Internships are not necessarily restricted geographically and positions outside of Germany are possible if a student takes the initiative to organize such an opportunity.
ILF Scholarships (Financial Need-Based)
Partial scholarships for tuition fees are granted by the ILF on a need-basis. Such scholarship funds are made possible by the generosity of the ILF sponsors and is awarded at the discretion of the ILF Admissions Committee based on merit as well as the applicants proven financial need. For the academic year 2012/13, based on the proven need of the applicants, ILF Scholarships in the form of tuition waivers will be granted in the amounts of either 12,000 or 6,000.
The ILF does not publicise the details of criteria used to assess applications for these Financial Need-Based Scholarships. However, as the ILF Scholarships are based on financial circumstances, you will only succeed in securing support if you provide as much information as possible about your individual and family financial situation. Your financial information will not be considered as part of your application for a place in the LL.M. Finance program.
The LL.M. Finance Degree is conferred by the Faculty of Law of Goethe University Frankfurt am Main.
The Institute for Law and Finance and the LL.M. Finance degree are accredited by the ZEvA, Germanys Central Evaluation and Accreditation Agency. The ZEvA is a member of the European Network for Quality Assurance in Higher Education, ENQA, and participates in their Joint Quality Initiative (JQI) which has developed evaluation criteria for Bachelor and Master degrees at the European level. The ZEvA accreditation is based on internationally accepted standards of accreditation.