Financial Services Law (LAWS70106)
Graduate coursework level 7Points: 12.5Not available in 2025
About this subject
Overview
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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.
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 sales (including Product Disclosure Statements and Target Market Determinations)
- 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: 4 March 2025
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 University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 4 March 2025
Assessment
| Description | Timing | Percentage |
|---|---|---|
Assessment 1: Team presentation/exercise (in class) | 20% | |
Assessment 2, Option 1: Take-home examination
| 3 - 6 February 2023 | 80% |
Assessment 2, Option 2: Research paper on a topic approved by the subject coordinator
| 22 February 2023 | 80% |
| Hurdle requirement: A minimum of 75% attendance. Note: the attendance hurdle does not apply when the subject is delivered online, however attendance at all live online sessions is expected. | Throughout the teaching period | N/A |
Additional details
Note: Students must choose assessment from the options listed above. If an option contains parts, all parts must be completed if that option is chosen.
Last updated: 4 March 2025
Quotas apply to this subject
Dates & times
Not available in 2025
What do these dates mean
Visit this webpage to find out about these key dates, including how they impact on:
- Your tuition fees, academic transcript and statements.
- And for Commonwealth Supported students, your:
- Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.
Additional delivery details
This subject has a quota of 30 students.
Enrolment is on a 'first in' basis. Waitlists are maintained for subjects that are fully subscribed.
Students should note priority of waitlisted 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.
Melbourne Law School may reserve places in a subject for incoming international cohorts or where a subject is core to a specialisation with limited alternate options.
Last updated: 4 March 2025
Further information
- Texts
- Related Handbook entries
This subject contributes to the following:
Type Name Course Master of Commercial Law Course Graduate Diploma in Banking and Finance Law Course Master of Laws Course Graduate Diploma in Corporate Law Course Graduate Diploma in Laws Course Master of Banking and Finance Law Course Juris Doctor - 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.
Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Additional information for this subject
If subject coordinator approval is required prior to enrolment, or for further information about the pre-requisites for Community Access Program study, please contact us:
- prospective CAP student enquiries;
- existing CAP student enquiries (if you have a current Unimelb login).
- Available to Study Abroad and/or Study Exchange Students
Last updated: 4 March 2025