Online Course Guide of WHU –

Find all modules and courses of our degree programs.

Please use the filters below to select the term (spring or fall) as well as the respective program (BSc, MSc, MBA, Exchange, Doctoral) of your choice for an overview of all modules offered at WHU. The courses are listed under the modules. Please click on a module to see which courses are part of it. If you would like to find out more about a certain course, click on the name of the course to see detail information. The location of the lecture will be revealed after your course registration on myWHUstudies.

Spring term counts from January - August, fall term counts from September - December.

Important for Exchange Students: As the Full-Time and Part-Time MBA Programs utilize a modular course structure, the dates on which students begin and end the exchange are flexible. Please find here a chronological overview of the preliminary course offering for Fall and Spring.

Spring 2022  ›  Bachelor of Science  ›  Bachelor of Science - 4th Semester  ›  Business Law

Law of the Capital Market

Course Code:
Prof. Dr. Christoph Kumpan
Course Type:
BSc Course
Week Hours:
Spring 2022
(Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.)
The course will unfold the complexity of modern capital markets. The main focus lies on different market participants (issuers; investors; intermediaries as financial analysts and rating agencies) and enforcement-concepts (supervision by national authorities; administrative penals; private enforcement).

The course covers disclosure obligations stipulated by capital markets law concerning inside information, director' dealings, transparency of major shareholdings and financial instruments. Further, market manipulation and insider dealing will be discussed as well as certain market participants such as banks, financial analysts, credit rating agencies and investment firms. Finally, competences of national and European supervisory authorities will be covered.

Wednesday, 23/03/2022
08:00 AM till 01:00 PM
Thursday, 24/03/2022
08:00 AM till 01:00 PM
Tuesday, 29/03/2022
08:00 AM till 11:15 AM
Wednesday, 30/03/2022
08:00 AM till 11:15 AM
Thursday, 31/03/2022
08:00 AM till 11:15 AM
The primary objective of this course is to provide students with an understanding of the basic principles of Capital Markets Law.

Upon successful completion of this subject, students should be able to:

1Identify and describe the distinctive aspects of capital markets law in the European Union

2Identify the requirements of European capital markets law and apply to a fact situation relevant applicable principles

3Identify, locate and distinguish the various sources of capital market laws in the European Union, as well as relevant national legal principles

4Communicate the results of legal research and analysis at a high level and in an appropriate style

The principal learning outcomes of this course are:

•to provide students with a broad and critical understanding of the key issues and concepts in the Law of the Capital Market;

•to allow students to develop an understanding of the application of Capital Markets Law in a practical context;

•to allow students to develop an understanding of current trends and themes governing public equity markets in the European Union.

Written Exam