Securities and Financial Services Regulation - LAWS3141
Faculty: Faculty of Law
School: Faculty of Law
Course Outline: See below
Campus: Sydney
Career: Undergraduate
Units of Credit: 6
EFTSL: 0.12500 (more info)
Indicative Contact Hours per Week: 3
Enrolment Requirements:
Pre-req: Business Associations (LAWS1091/JURD7224), Crime & the Criminal Process (LAWS1021/JURD7121), Torts (LAWS1061/JURD7161) and Administratve Law (LAWS1160/JURD7160) OR BA1 (LAWS2010/JURD7224), Crim 1 (LAWS1001/JURD7101), Torts, and Admin. Law.
Excluded: JURD7541
CSS Contribution Charge: 3 (more info)
Tuition Fee: See Tuition Fee Schedule
Further Information: See Class Timetable
View course information for previous years.
Description
Recommended Prior Knowledge
Course Objectives
1. To study the regulation of securities and financial products and markets by considering the institutions and context in which the markets operate.
2. To understand the policy reasons for regulation, the main regulatory techniques adopted (e.g. disclosure, licensing, powers of investigation and enforcement) and the issues of law and policy raised by the approaches adopted; to appreciate the strengths and limits of particular legal rules and associated practices used in financial regulation.
3. To enrich the study of relevant regulatory rules and policy by the introduction of inter-disciplinary material eg from financial economics the contribution of the efficient markets hypothesis to the regulation of disclosure; from sociology of law literature on styles of regulation and enforcement.
4. To acquire facility with the complex statutory materials and policy which govern financial markets and experience in treating the regulation as primarily a system of statutory and administrative rules as much as judge-made law.
Main Topics
- Institutions and sources of Australian financial regulation;
- The nature and effect of regulation and the main theoretical perspectives on regulation;
- What are we regulating: financial products, financial markets and financial services;
- Prospectus and retail disclosure;
- Licensing of financial markets and intermediaries;
- Customer agreements: traditional advisory and with online brokers;
- Market manipulation;
- Regulator's remedies: criminal, civil penalties and enforceable undertakings;
- Plaintiff's remedies: curial actions, industry based dispute resolution;
- Financial regulation in future.
Assessment
Class participation - 10%
Compulsory research essay question - 40%
Open book exam - 40%
Course Texts
Prescribed
- Corporations Act 2001, 2006 edition.
- Baxt R, Black A, Hanrahan P, Securities and Financial Services Law (Butterworths, 2003).
- Collection of reading materials for this course.
Recommended
Refer to Course Outline provided by lecturer.
Study Levels
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