UK: PhD Scholarship Regulation of Financial Firms Conduct at University of Edinburgh

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The successful candidate will receive an annual stipend of £13,250 plus a research allowance of £750 per annum and a fee-waiver which will cover the cost of fees at the Home/EU rate.
The School of Law at the University of Edinburgh and the Office of the Director of the Chief Economist to the Scottish Government are offering a fully-funded full-time PhD scholarship on the regulation of financial firms’ conduct with special focus on the UK and European Banking Union arrangements and the problems arising from them.

About the Research

The European Banking Union centralizes macroprudential (systemic risk) regulation, microprudential regulation (supervision) and the resolution of Eurozone banks, but it is largely silent as regards the supervision of investment conduct, which remains an issue for host country control. In addition, the scope for regulatory responsibility for investment conduct overlaps and the potential confusion of competences between microprudential supervisors of financial sector firms is ever increasing, threatening the coherence of the internal market.

The issue is complicated by the fact that the implications of the UK opt-out on the Scottish industry’s competitiveness have not been fully studied. Therefore, in order to map the regulatory structures of overlapping and confusing responsibility and competence and ascertain the optimum regulatory model for supervision of investment conduct, the proposed research will deal with the issue of division of supervisory competences in the wider financial sector (including insurance) following the introduction of the European banking union.

In this context, the research will examine the role that national authorities continue to play in the Banking Union, particularly focusing on the questions the Banking Union raises with respect to allocation of supervisory responsibility at the level of micro-prudential and conduct regulation. It will try to identify the optimum microprudential and conduct supervision model for national financial industries, like Scotland’s, and make recommendations as regards methods and techniques that have to be employed to resolve conflict of supervisory competences.

More information on the scope of the project can be sought from phd.law@ed.ac.uk

Studying at Edinburgh

The successful candidate will be able to benefit from the Law School’s structured programme for doctoral research training.

You will be supervised primarily by Professor Emilios Avgouleas, Chair in International Banking Law and Finance at Edinburgh Law School, along with a second supervisor.  The student will also have regular meetings with Dr Graeme Roy (Office of the Chief Economic Adviser) who will act as an external adviser.

Method of Application

To apply for this PhD studentship:

  • You will need to hold an undergraduate degree (minimum 2:1) and a Masters degree in a cognate discipline.
  • You must apply online via the University’s application portal and all supporting evidence and documentation required by the application process must be provided.
  • You must include a substantive piece of writing (a conference paper, your Masters dissertation).
  • It is critical that you state on your application that you are applying for this scholarship.

For more information:

Professor Emilios Avgouleas: e.avgouleas@ed.ac.uk

Law School Postgraduate Office: phd.law@ed.ac.uk

The closing date for this application is midday on Thursday 31 October with a proposed start date of January 2014.  All suitable candidates will interviewed.

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