Efficient capital markets are essential for a modern western economy. But investment in those markets carries risk, with many historical examples of financial catastrophes for reasons ranging from fraud and deception, to the irrational exuberance of investors. Our community looks to laws and regulation for the protection of investors. This unit is about the system of investor protection. We study the legal and regulatory requirements for capital raising, particularly by issuing securities or units in a trust or other managed investment scheme. In Australia, investor protection is still based on the disclosure philosophy, the idea that the primary purpose of regulation is to make sure investors have the information to make their own decisions. However, we consider recent regulatory changes that have tended to break down that approach to regulation. Questions of liability for defective disclosure, and the due diligence defence, will be examined. A special feature of this unit is the extensive experience in corporate fundraising that our team of lecturers will bring to the classroom, overseen by Dr Austin, a barrister and retired judge who is Challis Lecturer in Corporate Law.
2 x class assignments (10% each) and assignment (80%)
Academic Profile https://sydney.edu.au/law/about/our-people.html. The unit is also available on a Continuing Professional Development basis https://sydney.edu.au/law/cpd/
The unit is available to students who have previously studied or practised in Australian corporate law or have completed LAWS6810 Fundamentals of Corporate Law.