Master's in Law and Financial Markets
Numbers don’t speak for themselves
Presentation
The Master’s in Law and Financial Markets is a product of an innovative partnership bringing together NOVA Information Management School (NOVA IMS) and NOVA School of Law.
Consistently ranked by Eduniversal among the top master’s courses in Western Europe and lectured in English, the Master’s in Law and Financial Markets offers students the challenge of an innovative set of courses in law and finance, opportunities to meet and network with leading financial institutions, to gain hands-on experience through an internship in a financial institution and to benefit from an international experience at a top university in Europe or beyond, through NOVA School of Law’s membership of the Themis Network.
This master’s is taught in English.
Coordination
Pedro Simões Coelho
Fernando Bação
Joana Farrajota
Scientific Commission
President: Pedro Simões Coelho (IMS) | Board Members: Margarida Lima Rego (research phase) | Fernando Bação (taught component IMS) | Joana Farrajota (taught component NOVA School of Law)
Goals
This Program aims to deepen law graduate’s mastery of the law, particularly in those fields that have the closest bearing on financial markets and investments, as well as providing an insight into the organization and functioning of the general financial system, and the three main financial markets: banking, insurance and capital markets. The Program offers an opportunity to acquire key financial analysis and evaluation skills of the main financial instruments traded on the capital markets and to identify intervention strategies in capital markets. The Program aims to stimulate a critical and interdisciplinary approach to knowledge, providing lawyers with the necessary tools to solve complex problems or issue judgments on situations of incomplete information.
Target Applicant
Candidates with a background in law will be given preference in admission. However, holders of any bachelor’s degree or equivalent are eligible to apply. We are keen to attract talented current or future professionals with an international focus who wish to prepare for a wide range of careers in the highly competitive finance sector.
Timetable
This course is taught after working hours*.
*Some Optional Curricular Units may have schedules that do not match the timetable of the course
Certification
| Study Cycle | Degree | A3ES Decision | Number of Years | Publication of the A3ES decision | DGES registration number | Publication in Diário da República |
Law and Financial Markets | Master | accredited | 6 | R/A -Cr 244/2015/AL02 |
Testimonials
Curricular Plan
+ 2023/2024
1st year – Taught Component
The curricular component corresponds to 60 ECTS and consists of 10 mandatory course units (52 ECTS) The remaining 8 ECTS correspond to electives that may be chosen from any Master course taught at NOVA School of Law (subject to availability).
From 2024/25, students will need to approve the curricular component with, at least 13,50 points out of 20 (13,5/20) to be able to enrol in the research phase (2nd year of the course).
Completion of the curricular component (60 ECTS), with any positive grade, grants the award of a Diploma in Postgraduate Studies in Law and Financial Markets.
| 1st Semester | ECTS |
|---|---|
| Mandatory | |
| Banking Law | 6 |
| Principles of Corporate Finance | 6 |
| Introduction to Data Analytics | 6 |
| Financial Markets and Investments | 6 |
| Financial Instruments Law | 4 |
| Regulation and Supervision of Financial Markets | 4 |
| Free Option | |
| Legal English | 4 |
| 2nd Semester | ECTS |
|---|---|
| Mandatory | |
| Banking and Insurance Operations | 6 |
| Introduction to Financial Derivatives and Risk Management | 6 |
| Insurance Law (EU Insurance Law)* | 4 |
| Risk Management in Financial Contracts | 4 |
| Free Option | |
| Methodology of Legal Research | 6 |
| Cybercrime | 6 |
| International Tax Law | 6 |
| Direito Penal Económico | 6 |
| Competition Law | 6 |
| Direito das Contraordenações | 6 |
| Energy, Climate and the Just Transition | 4 |
| Fintech | 4 |
| Ethics and Regulation of Artificial Intelligence | 4 |
* Insurance Law (EU Insurance Law) is a course offered by NOVA School of Law’s Jean Monnet Module on EU Insurance Law: Challenges in the SDG Era, funded by the European Commission (EUInsLSDG).
(The curricular units presented as free options are suggestions and may be changed. In free-option curricular units that are compulsory for other master’s programmes, enrolment and attendance depends on logistical and pedagogical possibilities).
2nd year – Research Phase
| Research Phase | ECTS |
|---|---|
| Mandatory | |
| Dissertation, internship at national or international institution or project work | 60 |
NOVA School of Law participates in THEMIS, a network that encourages the internationalization of master’s students. The THEMIS certificate is granted when students complete a semester of mobility, participate in an international conference, and complete an international internship under the THEMIS Programme
+ 2024/2025
1st year – Taught Component
The curricular component corresponds to 60 ECTS and consists of 10 mandatory course units (52 ECTS). The remaining 8 ECTS correspond to electives that may be chosen from any Master course taught at NOVA School of Law (subject to availability).
From 2024/25, students will need to approve the curricular component with, at least 13,50 points out of 20 (13,5/20) to be able to enrol in the research phase (2nd year of the course).
Completion of the taught part (60 ECTS) grants the the award of a Diploma in Postgraduate Studies in Law and Financial Markets.
| 1st Semester | ECTS |
|---|---|
| Mandatory | |
| Banking Law | 6 |
| Principles of Corporate Finance | 6 |
| Introduction to Data Analytics | 6 |
| Financial Markets and Investments | 6 |
| Financial Instruments Law | 4 |
| Regulation and Supervision of Financial Markets | 4 |
| Free Option | |
| Legal English | 4 |
| 2nd Semester | ECTS |
|---|---|
| Mandatory | |
| Banking and Insurance Operations | 6 |
| Introduction to Financial Derivatives and Risk Management | 6 |
| Insurance Law (EU Insurance Law)* | 4 |
| Risk Management in Financial Contracts | 4 |
| Free Option | |
| Methodology of Legal Research | 6 |
| Cybercrime | 6 |
| International Tax Law | 6 |
| Direito Penal Económico | 6 |
| Competition Law | 6 |
| Direito das Contraordenações | 6 |
| Fintech | 4 |
*EU Insurance Law is a course offered by NOVA School of Law’s Jean Monnet Module on EU Insurance Law: Challenges in the SDG Era, funded by the European Commission (EUInsLSDG).
(The curricular units presented as free options are suggestions and may be changed. In free-option curricular units that are compulsory for other master’s programmes, enrolment and attendance depends on logistical and pedagogical possibilities).
2nd year – Research Phase
| Research Phase | ECTS |
|---|---|
| Mandatory | |
| Thesis, internship at national or international institution or project work | 60 |
NOVA School of Law participates in THEMIS, a network that encourages the internationalization of master’s students. The THEMIS certificate is granted when students complete a semester of mobility, participate in an international conference, and complete an international internship under the THEMIS Programme.
Objectives and Structure of the Curricular Units
Tuition Fees
In master’s degrees and doctorates, the tuition fee for part-time students corresponds to 65% of the tuition fee owed by full-time students
*Tuition fees as deliberated by the General Council on 14 December 2022
** Applicable only if the course is not terminated inside the established deadline.
Reading of this information does not exempt consultation of the full documentation regarding fees, emoluments and taxes for the academic year in question.
Tuition fees are annual and due in full upon enrolment in the course. Payment in instalments is allowed for students’ mere convenience.
In the case of withdrawal from the course, the amounts already paid are not refundable. The remaining tuition fee payments due for the academic year to which the application relates must also be paid.
Refund of the tuition fee is only possible where the previous course has not been completed by September, and is conditioned by its completion. In this case, the applicant must give proof of the situation through a declaration from the home institution, before the end of September. Amounts other than tuition fees (fees, school insurance and administrative costs) are not refundable.
Payments must be made via ATM or through PayPal* using the references available in the reserved area. Failure to pay tuition fees within the time limits indicated results in an increase in the amount to be settled and/or the suspension of enrolment and registration, as well as the invalidity of all curricular acts practised in the academic year in which the non-compliance is not respected.
*Paypal payments are validated automatically; Multibanco payments will be validated up to 48 hours after the payment
Financial Discounts
Students who choose to pay the annual tuition fees in a one-off payment receive a 5% discount on the amount to be paid.
Payment by instalments
Annual tuition fees for the taught component
The annual tuition fees for the taught component can be paid in 10 instalments
- 10 instalments: 1st instalment of 20% of the total amount paid upon enrolment and the remaining amount in 9 instalments paid between the 1st and 10th of the months of September through May.
Tuition fees of the non-curricular phase
Tuition fees for the non-curricular phase can be paid in 10 instalments.
- 10 instalments: 1st instalment of 20% of the total amount paid upon enrolment and the remaining amount in 9 instalments paid between the 1st and 10th of the months of September through May.
Tuition fee for an additional non-curricular semester
Tuition fees for the non-curricular phase can be paid in 4 instalments.
- 4 instalments: 25% of the total amount paid upon enrolment, remaining instalments:
- 1st semester: between the 1st and 10th (October, November, January);
- 2nd semester: between the 1st and 10th (March, April, May).
Tuition fees for the non-curricular phase
Fees are paid in full at the time of registration.
Merit Awards
The number of awards is established annually by the Board of NOVA School of Law. Merit Awards are awarded to:
- Candidates whose final average admission to a 2nd study cycle at NOVA School of Law, according to assessment and ranking by the appropriate jury, is equal to or higher than 17 points (on a scale of 0/20) and who enrol and attend the same course, benefit from an award in cash corresponding to 50% of the tuition fee for the taught component of the Master’s degree.
- Candidates whose final average admission to a 2nd study cycle at NOVA School of Law, according to assessment and ranking by the appropriate jury, is equal to or higher than 16 points and lower than 17 points (on a scale of 0/20) and who enrol and attend the same course, benefit from an award in cash corresponding to 30% of the tuition fee for the taught component of the Master’s degree.
In the non-taught phase, three prizes for academic merit are awarded (by master’s degree or area of specialization, in the case of the Master’s Degree in Law). These awards assume the completion of the taught component within the stipulated time.
- The best student of the taught component of each study cycle or specialization area of a study cycle, resident in Portugal, who continues and attends the non-taught phase benefits from an award in cash corresponding to 100% of the tuition fee for the non-taught phase of the Master’s degree;
- The second-best student of the taught component of each study cycle or specialization area of a study cycle who continues and attends the non-taught phase, resident in Portugal, benefits from an award in cash corresponding to 60% of the tuition fee, corresponding to the non-taught phase of the Master’s degree;
- The third-best student of the taught component of each study cycle or specialization area of a study cycle who continues and attends the non-taught phase of the Master’s degree, resident in Portugal, benefits from an award in cash corresponding to 40% of the tuition fee, corresponding to the non-taught phase of the Master’s degree.
Scholarships for Access to Study Cycles at NOVA University Lisbon
The Scholarships for Access to Study Cycles are available to students of the three study cycles, being students of Universidade Nova de Lisboa, nationals or stateless persons, foreigners with tax residence in Portugal or with refugee status, who are in a situation of financial need and who do not benefit from the scholarships awarded by the Directorate-General for Higher Education, or whose value proves to be insufficient.
Full scholarship details here.
José Neves Foundation Grant
This course is eligible for the José Neves Foundation ISA scholarship programme. Find out more information here.
Emoluments/Charges and Taxes Fees
- Application fee: 51.00€
- Administrative costs per registration/enrolment (each year): 35.00€
- Institution insurance (each year): 3.00€
- Registration Certificate: 6.00 €
- Improvement grade exam: 15.00 €/enrolement
- Conclusion Certificate: 50€
In master’s degrees and doctorates, the tuition fee for part-time students corresponds to 65% of the tuition fee owed by full-time students.
*Tuition fees as deliberated by the General Council on 14 December 2022
**Applicable only if the course is not terminated inside the established deadline
Reading of this information does not exempt consultation of the full documentation regarding fees, emoluments and taxes for the academic year in question.
Tuition fees are annual and due in full upon enrolment in the course. Payment in instalments is allowed for students’ mere convenience.
In the case of withdrawal from the course, the amounts already paid are not refundable. The remaining tuition fee payments due for the academic year of the application must also be paid.
Refund of the tuition fee is only possible where the previous course has not been completed by September, and is conditioned by its completion. In this case, the applicant must give proof of the situation through a declaration from the home institution, before the end of September. Amounts other than tuition fees (fees, school insurance and administrative costs) are not refundable.
Payments must be made via Visa, PayPal, MBWay or Multibanco payments, through NetPA. The system validates payments in a few minutes, maximum. Failure to pay tuition fees within the time limits indicated results in an increase in the amount to be settled and/or the suspension of enrolment and registration, as well as the invalidity of all curricular acts practised in the academic year in which the payment dates are not respected.
Payment by instalments
Annual tuition fees for the taught component
The annual tuition fees for the taught component can be paid in 10 instalments
- 10 instalments: 1st instalment of 20% of the total amount paid at the time of enrolment, and the remaining amount in 9 instalments paid between the 1st and 10th of the months of September to May.
Tuition fees of the Research Phase
Tuition fees for the Research phase can be paid in 10 instalments.
- 10 instalments: 1st instalment of 20% of the total amount paid upon enrolment and the remaining amount in 9 instalments paid between the 1st and 10th of the months of October through June.
Tuition fee for an additional Research Phase semester
Additional semester tuition fees for the Research Phase can be paid in 4 instalments.
- 4 instalments: 25% of the total amount paid at registration, remaining instalments:
- 1st semester: between the 1st and 10th (October, November, January);
- 2nd semester: between the 1st and 10th (March, April, May).
Fee for the extension of Deadline of delivery of the Research Phase:
Fees are paid in full at the time of registration.
Merit Awards
The number of awards is established annually by the Board of NOVA School of Law. Merit Awards are awarded to:
- Candidates whose final average admission to a 2nd study cycle at NOVA School of Law, according to assessment and ranking by the appropriate jury, is equal to or higher than 17,00 points (on a scale of 0/20) and who enrol and attend the same course, benefit from amonetary award corresponding to 50% of the due tuition fee for the taught component of the Master’s degree.
- Candidates whose final average admission to a 2nd study cycle at NOVA School of Law, according to assessment and ranking by the appropriate jury, is equal to or higher than 16,00 points and lower than 17 (on a scale of 0/20) and who enrol and attend the same course, benefit from a monetary award corresponding to 30% of the due tuition fee for the taught component of the Master’s degree.
In the Research Phase , three prizes for academic merit are awarded (by master’s degree or area of specialization, in the case of the Master’s Degree in Law). These awards assume the completion of the taught component within the stipulated time.
- The best student of the taught component of each study cycle or specialization area of a study cycle, resident in Portugal, who continues and attends the Research Phase benefits from a monetary award corresponding to 100% of the tuition fee due for the Research Phase phase of the Master’s degree;
- The second-best student of the taught component of each study cycle or specialization area of a study cycle who continues and attends the Research Phase , resident in Portugal, benefits from a monetary award corresponding to 60% of the tuition fee due for the Research Phase phase of the Master’s degree;
- The third-best student of the taught component of each study cycle or specialization area of a study cycle who continues and attends the Research Phase of the Master’s degree, resident in Portugal, benefits from a monetary award corresponding to 40% of the tuition fee due for the Research Phase phase of the Master’s degree.
Scholarships for Access to Study Cycles at NOVA University Lisbon
The Scholarships for Access to Study Cycles are available to students of the three study cycles, being students of Universidade NOVA de Lisboa, nationals or stateless persons, foreigners with tax residence in Portugal or with refugee status, who are in a situation of financial need and who do not benefit from the scholarships awarded by the Directorate-General for Higher Education, or whose value proves to be insufficient.
Full scholarship details here.
José Neves Foundation Grant
This course is eligible for the José Neves Foundation ISA scholarship programme. Find out more information here.
Emoluments/Charges and Taxes Fees
- Application fee: 51.00€
- Administrative costs per registration/enrolment (each year): 35.00€
- Institution insurance (each year): 3.00€
- Registration Certificate: 6.00 €
- Improvement grade exam: 15.00 €/enrolement
- Conclusion Certificate: 50€
Applications
2024/2025
Length 4 Semesters
120 ECTS
Taught in English
Entries: 40 places
Applications from students who prove they will be able to complete their bachelor’s degree (licenciatura) by September will be accepted.
1st Phase of Applications:
- Submission of applications: From 1 to 29 February 2024
- Results publication: Until 21 March 2024
- Registration of admitted applicants: from 8 to 18 April 2024
2nd Phase of Applications:
- Submission of applications: From 23 April to 3 May 2024
- Announcement of placements: until 21 May 2024
- Complaint about placements: From 22 May to 4 June 2024
- Enrolment: From 5 to 19 June 2024
- Registration for Curricular Units: From 19 to 26 July 2024
3rd Phase of Applications:
(remaining places, if any)
- Submission of applications: From 3 to 7 July 2023
- Announcement of placements: 21 July 2023
- Complaint about placements: From 24 July to 4 August 2023
- Enrolment and Registration for Curricular Units: From 7 to 11 August 2023
Admission requirements
Candidates for registration are:
- Candidates who hold a degree completion certificate from a higher education establishment in countries that are signatories to the Bologna Declaration and others considered to be similar, taking into account the respective curricular structure, with a mention of the final average*;
- Holders of a foreign higher academic degree that is recognised as satisfying the objectives of the degree by the competent scientific body of NOVA School of Law, with a mention of the final average*.
*Failure to provide proof of the final classification of the Academic Degree in the terms mentioned above will result in the final classification of 10 points being awarded at the time of selection.
Selection and Ranking Criteria
Candidates are ranked according to the score obtained in the selection process, based on individual merit. The following criteria are taken into account:
- Graduation marks: 50%.
Relevance and suitability of previous background to the master’s degree course with regard to the pluridisciplinary nature of the course (50%); the jury assigns each applicant a grade of 0 to 20, based on analysis of the letter of motivation and curriculum vitae. If necessary, the members of the jury may decide to conduct an interview with all or some of the applicants. Due consideration is given to: (i) a degree in Law, (ii) for post-Bologna graduates, a degree corresponding to at least 240 ECTS.
Candidates assessed with a mark lower than 9.5 will be automatically excluded.
Submission of Applications (Online):
The application must be accompanied by the following, mandatory, elements:
- Motivation letter;
- Curriculum vitae (European model);
- Copy of the certificate of completion of the course(s); candidates with foreign qualifications must send transcripts showing the coefficient of performance or a statement with the final average of the degree. Diplomas that are not in Portuguese, English, French or Spanish must be accompanied by a translation certified by the relevant authorities (the grade will be converted to Portuguese according to DGES criteria);
- Proof of Tax ID Number, where applicable;
- Proof of ID;
- In the case of an International Student, a declaration, sworn on honour, in which the candidate declares that he/she does not have Portuguese nationality, nor is he/she covered by any of the exceptions in Article 2(2) of Regulation no. 687/2020, of 20 August, which, under the terms of Decree-Law no. 36/2014, of 10 March, excludes him/her from the status of International Student – model Declaration of honour | International Student;
- For applications for the national student scheme whose applicants present an identification document with a nationality other than Portuguese or EU, a declaration on honour that the applicant has Portuguese nationality or is covered by any of the exceptions in Article 2(2) of Regulation no. 687/2020 of 20 August which, under the terms of Decree-Law no. 36/2014 of 10 March, excludes him/her from International Student status – model Declaration of Honour;
- Applicants who are required to complete their degree must send a statement from the educational institution where they are studying with their transcripts with all the subjects they have completed and their final grade, as well as the current average and the expected date of completion of the degree. NOVA School of Law students do not need to attach this document. The current average will be validated by the Academic Service according to the information available in the system.
- After submitting the application, the candidate must pay the fee according to the references indicated (€51, which can be paid via Multibanco, MB way, Paypal or Visa). The application will only be sent for assessment once payment has been made.
Applications that are not accompanied by all the documents or for which the application fee has not been paid will be rejected outright.
Optional elements for the application form
Candidates may submit a request for accreditation of academic training and professional experience obtained prior to entering the study cycle. Accreditation processes take into account the level of credits corresponding to previous training, and under no circumstances will accreditation be allowed for further studies in a study cycle for training undertaken as part of a study cycle at a lower level of qualification. For the purposes of accreditation, the candidate must fill in a specific form and attach all the relevant documentation. When the request for accreditation is made at the time of application, accreditation is not a sufficient condition for admission to the study cycle and only takes effect after admission and only in that same study cycle.
If there is any doubt about the documentation presented, particularly in the case of documents obtained abroad, recognition may be requested by the local Portuguese consular agent and/or legalised by the Apostille system under the terms of the Convention on the Abolition of the Requirement of Legalisation for Foreign Public Acts (better known as the Hague Convention), signed in The Hague on 5 October 1961, with the exception of documents issued by Higher Education Institutions in European Union countries.
Whenever the above-mentioned documents are in a foreign language other than Spanish, French, English or Portuguese, you must provide a translation of them. The translations must be duly certified by the relevant authorities.
Documents required
Deadline for submission of the course completion certificate in accordance with point “Copy of the certificate of completion of the course(s)” for successful candidates: 30 September 2024.
Application fees
The fee payable for the application is €51 (fifty-one euros), which will not be refunded if the application is excluded or not selected. This information does not dispense with consulting the 2024/25 tuition fees notice, available on the NOVA School of Law website, as well as the NOVA fees table in force for the academic year.
Readmissions
Readmission is the act by which a student, after interruption of studies in an institution/course of higher education, enrols in the same institution and enrols in the same course or in a course which has replaced it.
Requirements:
Students who can apply for readmission to any cycle of studies:
- Must have already been enrolled and enrolled at the NOVA School of Law, in the same course or in a course in which they are already registered, without having completed it
- Must not have been enrolled in that course in the previous academic year to the one in which they intend to be readmitted to
- Those students whose registration has lapsed due to the requirements in force may apply for readmission once two school semesters have elapsed since the date of the regulations
The Faculty reserves the right to refuse readmission to applications from students whose curricular record indicates serious difficulties in adapting to the study plan in force and to the type of teaching provided at the NOVA School of Law. Requests from students who are in debt to the Faculty for tuition fees or any other amounts will be rejected, subject to the provisions of Law Nº. 75/2019, of September 2.
Deadlines for submission of applications | School Year 2023/24:
2nd Semester
Submission of the application | From 8 to 19 January 2024 |
Enrolment and Registration for Curricular Units | From 29 January to 2 February 2024 |
Deadlines for submission of applications | School Year 2024/25:
1st Semester
Submission of the application | From 01 to 05 July 2024 |
Enrolment and Registration for Curricular Units | From 02 to 06 September 2024 |
2nd Semester
Submission of the application | From 13 to 17 January 2025 |
Enrolment and Registration for Curricular Units | From 27 to 31 January 2025 |
Instructions for submitting the application (online):
The application is submitted online through NetPA by filling in a form and uploading the necessary documents, namely:
- Online submission of a simple digital copy of the citizen card or passport (international applicants)
- Payment of the application fee through the PayPal, Visa, MBway or Multibancoreferences on the system: 70.00€ (non-refundable), validated by the system in few minutes.
Incomplete and/or unpaid applications will be automatically rejected.
Fees and Emoluments
Application Fee: 70,00€
Note: All due tuition and other fees should be checked in the course’s webpage, as well as in the tuitions annual order and NOVA fee’s table.
Tuition fees are fixed annually by the General Council of the NOVA University Lisbon.
Regulations Applicable: Decree-Law Nº. 36/2014, of March 10th, altered by Decree-Law Nº. 62/2018, of August 6th, and Regulation Nº. 436/2020, of April 28th, of NOVA School of Law.
Applications through the NOVA School of Law applications portal
Clear all your doubts
We are at your disposal to answer any questions you may have about studying at NOVA
School of Law.
Please do not hesitate to contact us by email: admissions@novalaw.unl.pt