LAWS6264 - Compliance: Theory & Practice in the Financial Services Industry

Objectives

  • Examine in detail the legal and regulatory requirements relevant to the financial services industry, and how the risk of breaching those requirements can be managed by compliance systems.
  • Focus not only on legal theory but also on the practical day to day business issues involved with compliance.

Content

The unit is divided into two parts:

a) Core compliance issues: licensing of financial service providers; compliance systems; insider trading and Chinese walls; market conduct rules; shareholding restrictions; trade practices; anti-money laundering, counter-terrorism financing and other measures to combat crime; retail customer obligations; marketing financial products; client money rules; privacy; fiduciary duties and conflicts of interest; confidentiality; phone taping; and investigating compliance breaches (including reporting obligations and HR issues);

b) Specialist compliance issues relevant to: managed investments; deposit products, non cash payment facilities; credit facilities, stockbroking; derivatives; warrants; foreign exchange; futures broking; financial planning; margin lending; insurance and insurance broking; superannuation and retirement savings accounts.

Session

Semester 2 2014
Tuesday Evenings 6-8pm

The timetable is subject to frequent changes. Please refer to the latest version of the Postgraduate Timetable.

Assessment

  • 1 x Assignment (40%)
  • 2-Hour Exam (60%)

Assumed Knowledge

A good general grasp of legal and equitable principles, including the common law, and a basic knowledge of undergraduate law units. The unit is open not only to candidates in the LLM program, but also to lawyers, regulatory staff or compliance professionals. It is not necessary that the latter hold a law degree in order to participate in the unit, but they should understand that the unit is being taught as part of a law program at postgraduate level. They may find it preferable therefore to audit the unit on a non-assessed basis, rather than participate on an assessed basis.

Continuing Professional Development (CPD)

You can credit this unit towards Continuing Professional Development (CPD). Units of study that are part of Sydney Law School’s Postgraduate Program meet the necessary Mandatory Continuing Legal Education (MCLE) of the Law Society of New South Wales and the Continuing Professional Development (CPD) requirements of the New South Wales Bar Association. You may complete this unit of study by enrolling on a non-degree basis or on an audit basis only with no assessment via Single Unit Study.

Courses this unit is available in

Master of Laws | Graduate Diploma in Law | Master of Global Law | Master of Business Law | Graduate Diploma in Commercial Law | Graduate Diploma in Corporate, Securities and Finance Law