The broad aim of this course is to examine the structure and regulation of markets for corporate securities. The study is primarily a legal analysis although it considers some financial theory relevant to legal responses to market operations. Topics include: the legal structure of co-regulation of securities markets including the role and powers of the ASX and ASIC; the efficient market hypothesis and its implications for mandatory corporate disclosure and prospectus regulation; prospectus disclosure and liability; the licensing of securities dealers and investment professionals; the conduct of securities business; abusive trading on secondary markets, including stock market manipulation and insider trading.