Financial Services Law (LAWS70106)

This subject is concerned with the regulation of financial services providers, including financial product issuers, broker/dealers, fund managers, custodians, financial planners and investment advisers. Orthodox approaches to the regulation of financial intermediaries are under significant challenge. 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 collective investments 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 topics of financial product sales and financial consumer protection.

Indicative list of principal topics:

• 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
• Statutory and general law duties of financial services providers
• Financial product sales (excluding credit)
• Financial consumer protection
• 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.