Commercial Law and Financial Services Regulation
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Upon successful completion of this subject, students should be able to:
- Analyse the sources of law and legal principles relating to business organisations, contract, tort and consumer law and explain how business organisations are formed and the responsibilities relating to the creation and operation of them.
- Critically reflect on the effectiveness of the various forms of business organisations and the functions of financial planning.
- Compose in written form, an analysis of issues of business and corporate law, financial planning and their applications.
- Appraise the regulation that applies to financial service providers (in relation to the provision of Financial Service Guides, Statements of Advice and Anti money laundering).
- Assess the requirements in relation to privacy legislation and the regulatory requirements for Tax advisors
- Legal requirements for individual planners and licensees including a consideration of obligations under Chapter 7 of the Corporations Act (2001)
- Legal requirements for the provision of a financial services guide and Anti Money Laundering and Counter Terrorism Financing Act (2006)
- Legal requirements for providers under privacy legislation and in relation to statements of advice
- Legal obligations for tax advisors for registration and in relation to the Australian Transaction Reports and Analysis Centre
In order to enrol in this subject, you must be accepted into one of the following degrees:
No additional requirements
This subject covers a range of interesting legal and financial planning regulatory topics. It teaches students how to analyse and solve legal problems and looks at the regulatory obligations that are imposed upon financial planners. It equips students with basic problem-solving techniques that are essential skills for those wishing to work in the field of financial planning.
The subject combines topics that are necessary to build an understanding of how basic legal concepts impact and assist business organisations and individuals in business. This includes an examination of: the sources of law; how to read and understand legislation and case law; basic business; contract law principles, (including a consideration of terms in a contract and rights on breach of contract); liability in tort law; agency and consumer law; Australian corporate law and corporate governance principles.
This subject also provides you with an introduction to the regulatory obligations of financial planners under the Corporations Act and other legislation and regulation that regulates providers of financial services and products. In financial planning, a great deal of time is spent on developing strategies so that individuals can accumulate wealth while they are alive. Much less time is spent on organising recognising the ongoing regulatory obligations.
- Application Questions (30%)
- Case study (30%)
- Examination - Take Home (40%)
For textbook details check your university's handbook, website or learning management system (LMS).