Securities & Financial Markets Regulation - JURD7992

Faculty: Faculty of Law

School: Faculty of Law

Course Outline: See below

Campus: Sydney

Career: Postgraduate

Units of Credit: 6

EFTSL: 0.12500 (more info)

Indicative Contact Hours per Week: 2

Enrolment Requirements:

Pre-requisite: 36 UOC of JURD courses for students enrolled prior to 2013. For students enrolled after 2013, pre-requisite: 72 UOC of JURD courses.

Excluded: LAWS8092

CSS Contribution Charge: 3 (more info)

Tuition Fee: See Tuition Fee Schedule

Further Information: See Class Timetable

Description

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 responsesto market operations. Topics include: the legal structure of co-regulation of securities markets including the role and powers of Australian Securities & Investments Commission (“ASIC”) and the Australian Securities Exchange (“ASX”); 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.

Main Topics
  • Structures, institutions and actors in Australian securities markets; current influences towards the globalisation of financial markets; the development and philosophy of Australian financial services law
  • The efficient market hypothesis; the mandatory disclosure regime; prospectus regulation
  • Prospectus liability and civil liability
  • Regulation of market licensees under the Corporations Act, as amended by the Financial Services Reform Act; the structure of co-regulation of securities markets; the structure, powers and authority of the Australian Stock Exchange in the regulation of securities markets; the status and general concerns of stock exchange listing and business rules; the role of the ASX in the maintenance of an informed market
  • The role and powers of the Australian Securities & Investments Commission in the regulation of financial markets; investigation and examination powers with respect to breaches of the Corporations Act
  • The licensing of financial services providers
  • The conduct of financial services providers including an examination of the legal structure of stock exchange transactions and the consequent obligations of brokers and clients; the incidents of the broker-client relationship
  • The regulation of insider trading
  • Abusive trading on secondary markets, including the elements of market manipulation offences
More information can be found on the Course Outline Website.