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78113 Securities Regulation

6cp
Requisite(s): (78101c Postgraduate Legal Research OR ((102 credit points of completed study in spk(s): C04236 Juris Doctor OR 102 credit points of completed study in spk(s): C04250 Juris Doctor Master of Business Administration) AND (70417 Corporate Law OR 70107 Principles of Company Law)) OR 70211 Contracts)
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.
Anti-requisite(s): 77901 Securities Markets Law AND 78112 Securities Regulation

Postgraduate

This subject examines key issues in the law and regulation relating to securities within Australia. It begins by developing an understanding of the nature of securities as a form of corporate fundraising and then briefly examines how their issuance and trading is regulated within Australia. The regulatory roles of ASIC and ASX in relation to the issuance and trading of securities are then examined. From the basis of this foundational knowledge, the subject is structured into three parts.

  • Part 1 examines the regulation of securities offerings, including the objectives and focus of Australia's investor protection laws, the documentation and procedural requirements for securities offerings, and the liability issues that might arise from deficient disclosure. Part 1 concludes with an examination of the continuous disclosure requirements applying to entities that are listed on Australia's financial markets.
  • Part 2 undertakes an overview of the regulation of significant transactions involving securities, including share reductions, share buy-backs, self-acquisitions and payments of dividends. It then undertakes an overview of the regulation of merger and acquisition activity within Australia.
  • Part 3 focuses on the regulation of financial markets within Australia upon which securities are traded, and the various forms of prohibited conduct involving dealings in securities, including insider trading, market manipulation and short selling.

The subject draws upon recent and current case studies relating to the issuance of, and dealing in, securities both within Australia and overseas to further develop students' knowledge of the various topics examined. Throughout the subject, the significance of several key themes are reinforced, including the importance of timely and accurate disclosure, responsible handling of confidential information, and the potential consequences that might follow from illegal conduct. The subject also develops an appreciation of the commercial considerations that drive and influence significant transactions involving securities, and the various factors which impact upon the operation of financial markets.

Typical availability

Spring semester, City campus


Detailed subject description.

Fee information

  • 2014 contribution for commencing Commonwealth-supported students: $1260 (Note: Students who commenced prior to 1 January 2010 should consult the Fees Calculator by Subject for relevant student contribution charges for Commonwealth-supported students. Not all students are eligible for Commonwealth-supported places.)
  • 2014 amount for undergraduate domestic fee-paying students: $3224 (Note: Fees for postgraduate domestic fee-paying students and international students are charged according to the course they are enrolled in. Students should refer to the annual fees schedule.)
  • Subject EFTSL: 0.125

Access conditions

Note: The requisite information presented in this subject description covers only academic requisites. Full details of all enforced rules, covering both academic and admission requisites, are available at access conditions and My Student Admin.