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Unit Summary

Unit type

UG Coursework Unit

Credit points

12

AQF level

7

Level of learning

Intermediate

Former School/College

Former School of Law and Justice

Unit aim

This unit examines certain aspects of Australia’s securities and financial products markets, and consists of three inter-related parts or modules.

Module 1, provides a general overview of the financial system. This module introduces the key players in the securities and financial products markets, including the central regulatory bodies and the main participants, and to the most common financial products that are traded.

Module 2, examines the regulatory system and legal obligations that apply to the main participants in the financial system, including the main codes of conduct that apply to the industry and the licensing system that applies to financial intermediaries.

Module 3, focuses on the regulation of market (mis)conduct, including misleading and deceptive conduct, market manipulation and insider trading, and on the regulation of complaints and disputes.

Unit content

Topic 1 Introduction to Australia’s securities and financial products markets

Topic 2 Administration of the Securities and Financial Services Law

Topic 3 Statutory definitions – defining securities and other financial products

Topic 4 Disclosure obligations for financial products

Topic 5 Regulation of the industry participants (securities markets and regulation)

Topic 6 Licencing Financial Intermediaries

Topic 7 The relationship between Financial Service Licensees and their clients

Topic 8 Best interests obligations and remuneration

Topic 9 Factors that may invalidate a finance contract

Topic 10 Market (mis)conduct

Topic 11 Insider trading

Topic 12 Complaints and disputes

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

GA1: , GA2: , GA3: , GA4: , GA5: , GA6: , GA7:
On completion of this unit, students should be able to: GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 demonstrate knowledge and understanding of the main common law and statutory provisions which apply to institutions, personnel and transactions in the Australian securities and financial services industries
2 explain and evaluate the roles played by the finance and securities industry regulators and their particular focus and responsibilities.
3 explain and reflect on the relationship between Financial Service Licensees and their clients, and how this relationship is regulated by the law.
4 identify and analyse prohibited securities market transactions and practices, the consequences for parties to such transactions and the various grounds for setting aside or varying the obligations of parties to financial transactions, especially those based on unconscionable conduct by lenders

On completion of this unit, students should be able to:

  1. demonstrate knowledge and understanding of the main common law and statutory provisions which apply to institutions, personnel and transactions in the Australian securities and financial services industries
    • GA1:
    • GA4:
    • GA5:
  2. explain and evaluate the roles played by the finance and securities industry regulators and their particular focus and responsibilities.
    • GA4:
    • GA5:
  3. explain and reflect on the relationship between Financial Service Licensees and their clients, and how this relationship is regulated by the law.
    • GA1:
    • GA2:
    • GA3:
    • GA4:
    • GA5:
    • GA6:
  4. identify and analyse prohibited securities market transactions and practices, the consequences for parties to such transactions and the various grounds for setting aside or varying the obligations of parties to financial transactions, especially those based on unconscionable conduct by lenders
    • GA1:
    • GA3:
    • GA4:

Prescribed texts

  • Baxt, R, Black, A & Hanrahan, P, 2017, Securities and Financial Services Law, 9th edn, LexisNexis Butterworths, Australia. ISBN: 9780409343069.
Prescribed texts may change in future study periods.