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 2010
Monday 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%)
1 x 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.

Courses this unit is available in

Sydney Law School