This unit provides a comprehensive coverage of the requirements of Chapter 7 of the Corporations Act (2001) - the Law of Financial Services and Markets. The unit introduces students to key definitions such as those for financial services, financial products, retail and wholesale clients. The unit covers in detail the requirements for the licensing of all financial service providers (advisers and dealers); the legal responsibilities of licensees in dealing with their clients; and the consequences of breaching licence requirements and conditions, such as failing to act in the best interests of a client. The unit provides a full treatment of the law with respect to the provision of the most important financial products, such as corporate securities, interests in managed investment schemes and superannuation funds. Students will be able to apply the legal requirements of the Anti-Money Laundering/Counter Terrorism legislation and privacy legislation when providing advice to clients.

Learning outcomes

Upon successful completion of this unit, students will be able to:
1. Understand the statutory and case law principles of the Australian Law of Financial Services;
2. Analyse and evaluate the application of the law in reported regulatory proceedings and in case studies drawn from Royal Commission hearlngs; and
3. Apply knowledge and skills with initiative and judgement to solve problems and make decisions relating to professional practice.

Graduate attributes

1. UC graduates are professional - communicate effectively
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
2. UC graduates are global citizens - adopt an informed and balanced approach across professional and international boundaries
2. UC graduates are global citizens - behave ethically and sustainably in their professional and personal lives
2. UC graduates are global citizens - communicate effectively in diverse cultural and social settings
2. UC graduates are global citizens - think globally about issues in their profession
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development

Prerequisites

11220 Business Law OR 11251 Foundations of Law and Justice

Corequisites

None.

Incompatible units

None.

Equivalent units

None.

Assumed knowledge

None.