Handbook home
Financial Services Law (LAWS70106)
Graduate coursework level 7Points: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
October
Lecturer
Professor Pamela Hanrahan, Coordinator
Email: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au
Overview
Availability(Quotas apply) | October |
---|---|
Fees | Look up fees |
This subject is concerned with the regulation of financial intermediaries, including financial product issuers, broker/dealers, fund managers, custodians, financial planners and investment advisers. Orthodox approaches to the regulation of financial intermediaries have been under significant challenge since the Global Financial Crisis, with more to come. The subject combines a thorough technical grounding in the current law governing the provision of financial services to retail and wholesale clients in Australia with broader perspective on likely future directions in financial services regulation. The lecturer is a former Australian Securities and Investments Commission (ASIC) Regional Commissioner and one of Australia’s leading experts in the areas of funds management law and financial services regulation
This subject examines the regulation of financial services providers and the legal dimensions of their relationship with their clients. In particular, it deals directly with relevant parts of Chapter 7 of the Corporations Act 2001 (Cth) and the general law relating to brokers, dealers and financial advisers. It also covers the related topic of financial product disclosure.
Principal topics include:
- Policy underpinning Chapter 7 of the Corporations Act 2001 (Cth)
- Theoretical and comparative approaches to regulating financial intermediaries
- The Australian Financial Services (AFS) licensing regime
- Financial services disclosure
- Statutory and general law duties of financial services providers
- Financial product disclosure
- Roles and powers of the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA)
- The impact of new technologies in financial services: regulating for disruption.
.
Intended learning outcomes
A student who has successfully completed this subject will:
- Understand the legal and regulatory framework within which financial services providers operate
- Be able to locate and apply the key regulatory requirements relating to Australian financial services (AFS) licensing, financial services disclosure (including Financial Services Guides and Statements of Advice) and financial products disclosure (including Product Disclosure Statements)
- Have a highly developed understanding of the duties (including fiduciary duties) owed by financial services providers to their clients
- Understand the likely future direction of the financial services sector and its regulation
- Identify the strengths and weaknesses of different regulatory approaches to protecting the interests of consumers of financial services.
Last updated: 3 November 2022
Eligibility and requirements
Prerequisites
None
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.
Inherent requirements (core participation requirements)
The Melbourne Law Masters welcomes applications from students with disabilities. The inherent academic requirements for study in the Melbourne Law Masters are:
- The ability to attend a minimum of 75% of classes and actively engage in the analysis and critique of complex materials and debate;
- The ability to read, analyse and comprehend complex written legal materials and complex interdisciplinary materials;
- The ability to clearly and independently communicate in writing a knowledge and application of legal principles and interdisciplinary materials and to critically evaluate these;
- The ability to clearly and independently communicate orally a knowledge and application of legal principles and interdisciplinary materials and critically evaluate these;
- The ability to work independently and as a part of a group;
- The ability to present orally and in writing legal analysis to a professional standard.
Students who feel their disability will inhibit them from meeting these inherent academic requirements are encouraged to contact Student Equity and Disability Support.
Last updated: 3 November 2022
Assessment
Additional details
- Team presentation/exercise (in class) (20%)
- Take-home examination (5,000 - 6,000 words) (80%) (6 - 9 December)
or - Research paper (6,500 - 8,000 words) (80%) (15 January 2020) on a topic approved by the subject coordinator
A minimum of 75% attendance is a hurdle requirement.
Last updated: 3 November 2022
Quotas apply to this subject
Dates & times
- October
Principal coordinator Pamela Hanrahan Mode of delivery On Campus (Parkville) Contact hours 24-34 hours Total time commitment 150 hours Pre teaching start date 25 September 2019 Pre teaching requirements The pre-teaching period commences four weeks before the subject commencement date. From this time, students are expected to access and review the Reading Guide that will be available from the LMS subject page and the subject materials provided by the subject coordinator, which will be available from Melbourne Law School. Refer to the Reading Guide for confirmation of which resources need to be read and what other preparation is required before the teaching period commences. Teaching period 23 October 2019 to 29 October 2019 Last self-enrol date 30 September 2019 Census date 23 October 2019 Last date to withdraw without fail 6 December 2019 Assessment period ends 15 January 2020 October contact information
Lecturer
Professor Pamela Hanrahan, Coordinator
Email: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au
Additional delivery details
This subject has a quota of 30 students.
Enrolment is on a first come, first served basis. Waitlists are maintained for subjects that are fully subscribed.
Students should note priority of places in subjects will be given as follows:
- To currently enrolled Graduate Diploma and Masters students with a satisfactory record in their degree
- To other students enrolling on a single subject basis, eg Community Access Program (CAP) students, cross-institutional study and cross-faculty study.
Please refer to the Melbourne Law Masters website for further information about the management of subject quotas and waitlists.
Last updated: 3 November 2022
Further information
- Texts
Prescribed texts
Specialist materials will be made available free of charge from Melbourne Law School prior to the pre-teaching period.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Master of Commercial Law Course Master of Laws Course Graduate Diploma in Banking and Finance Law Course Graduate Diploma in Legal Studies Course Juris Doctor Course Master of Banking and Finance Law - Links to additional information
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Additional information for this subject
If required, please contact law-admissions@unimelb.edu.au for subject coordinator approval.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 3 November 2022