This course focuses on how policy, law and regulation affect international finance. It examines cross-border banking and securities transactions in four major markets, the United States, the European Union, Japan and China. In the U.S. the focus is on the impact and response to the financial crisis of 2007- 2009 and how banking and capital market regulation affects foreign firms. In the E.U. the focus is on continuing efforts to build integrated financial markets as well as deal with Brexit, in Japan on rebuilding the Japanese financial system after the "lost decade," and now stimulating the capital market, and in China how foreign firms and investors are able to access the Chinese markets. The course also looks at the infrastructure that underlies the global financial system, e.g. the Basel Capital Accord (as well as national additions), global standards for the clearing and settlement of securities, and rules for different exchange rate regimes. In addition, the course deals with certain important transactions like derivatives and various funds (mutual, hedge and private equity). The course also cover some key aspects of the emerging markets, principally the issuance and restructuring of sovereign debt. The basic text for the course is H. Scott and A. Gelpern, International Finance (22nd ed. 2018).