LAWS 2005 Financial Services Law

Credit Points 10

Legacy Code 200271

Coordinator William Higgs Opens in new window

Description Financial services is one of the fastest growing sectors of the Australian economy. This is an essential unit to understand legal, compliance and regulatory issues relating to the financial services sector in Australia. Students will be introduced to the licensing requirements for entering the financial services sector and the obligations for marketing and offering financial products and financial services to retail and wholesale clients. Students are then introduced to the main techniques of financial services regulation: disclosure, licensing, prohibitions or insider trading and market manipulation, self-regulation and powers of investigation and enforcement.

School Law

Student Contribution Band HECS Band 4 10cp

Check your HECS Band contribution amount via the Fees page.

Level Undergraduate Level 2 subject

Pre-requisite(s) LAWS 3045 OR
LAWS 2010

Learning Outcomes

On successful completion of this subject, students should be able to:
  1. Communicate effectively, persuasively and appropriately in legal context.
  2. Demonstrate an understanding of the basic principles of financial services law.
  3. Apply the student's understanding of financial services law concepts to analysing and solving practical problems.
  4. Appraise some of the criticisms of current financial services law in the different contexts.

Subject Content

Theories of regulation
Financial services regulatory history
Instruments and agencies
Financial Products
Managed Investment Schemes
Retail and wholesale clients
Australian Financial Services Licence
Financial Services Regulation
General conduct and obligations of financial services licensees and market licensees
Insider Trading
Market Manipulation
Continuous disclosure
Regulation of derivatives
Market Misconduct
ASIC's powers and remedies: criminal, civil penalties and enforceable undertakings
Compliance issues
Plaintiff's remedies


The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.

Item Length Percent Threshold Individual/Group Task
Case Study 10% Oral Component, 10% written component 20 N Individual
Take-home Examination (release on vUWS; submit Turnitin) 2 hours 60 N Individual
In-Class Quizzes 15 minutes per quiz; 4 quizzes in total; the best 3 of 4 quizzes will form the final mark. 10 N Individual
Class Participation: on Zoom Ongoing 10 N Individual

Prescribed Texts

  • Robert Baxt, Ashley Black and Pamela Hanrahan, Securities and Financial Services Law (Lexis Nexis, 9th ed, 2017).

Teaching Periods

2022 Semester 1

Parramatta City - Macquarie St


Subject Contact William Higgs Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

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