LAWCOMM 444 : Financial Markets Law

Law

2020 Semester One (1203) (10 POINTS)

Course Prescription

An examination of the law regulating the promotion of companies, duties and liabilities of directors and promoters for the promotion of a company, public fund raising in New Zealand, insider trading laws and takeovers, and limited liability partnerships.

Course Overview

This course is for students who anticipate further involvement, or have a keen interest, in the theory and operation of financial markets. It will commence with an overview of the history of local markets and the fundamental objectives inherent in any successful marketplace. Building on these, it will look at key local legislation and regulations now in place to achieve these objectives. Having established this framework, the second part of the course will take a detailed look at the main players, products and operations existing within this structure. Part three of the course will develop this foundational knowledge to analyse and evaluate case studies that demonstrate effective and ineffective, flexible and inflexible practices and approaches within a financial markets setting. 

Course Requirements

Corequisite: LAW 417 or LAWCOMM 402 Restriction: LAW 487, 490

Capabilities Developed in this Course

Capability 1: Disciplinary Knowledge and Practice
Capability 2: Critical Thinking
Capability 3: Solution Seeking
Capability 4: Communication and Engagement
Capability 5: Independence and Integrity
Graduate Profile: Bachelor of Laws

Learning Outcomes

By the end of this course, students will be able to:
  1. Identify and evaluate the theoretical drivers for law and regulation in the context of financial markets. (Capability 1.1, 2.2 and 4.1)
  2. Identify and articulate applicable legal concepts from key legislation, regulations and case law that arise in relation to varied fact and context scenarios in order to reach reasoned solutions and make reasoned recommendations. (Capability 1.2, 1.3, 2.1, 2.2, 2.3, 3.1, 3.2, 3.3, 4.1 and 5.1)
  3. Evaluate competing approaches to legal issues arising within the financial markets sector. (Capability 1.1, 1.2, 1.3, 2.1, 2.2, 2.3, 3.3, 4.1 and 5.1)
  4. Demonstrate effective written communication skills (Capability 4.1 and 4.2)

Assessments

Assessment Type Percentage Classification
Reflection Piece 10% Individual Coursework
Assignments 20% Individual Coursework
Final Exam 70% Individual Examination
Assessment Type Learning Outcome Addressed
1 2 3 4
Reflection Piece
Assignments
Final Exam

Learning Resources

Course book
It is recommended that you purchase a physical copy of the course book, particularly as the exam is open book.
Recommended Text
There is no textbook prescribed for the course. There are sufficient textbooks in the Davis Law Library to supplement your reading of the various cases and articles referred to in this outline.
The following is a selection of the texts in the Davis Law Library, held on Desk Copy:
Texts:
• Victoria Stace, Securities law in New Zealand, LexisNexis (2010) KN304.1 L1 STA
• John Farrar & Susan Watson et al, Company and Securities Law in New Zealand 2nd ed,
Brookers (2013) KN261 L1 FARcs 2013
• John Farrar Corporate Governance: Theories, Principles and Practice 3rd ed, Oxford
University Press (2008) KN255 K3 FAR 2008
• LD Mason, J Muir and M Stuart Financial Markets Conduct Act: an introduction (New
Zealand Law Society Continuing Legal Education, Wellington, 2014).
• LD Mason and RF Wallis Financial Markets Conduct Act Reforms (New Zealand law Society
Continuing Legal Education, Wellington, 2013).
Loose-leaf services:
• Brookers Company and Securities Law KN261 L1 BRO
• Morison’s Company and Securities Law (Butterworths) KN261 L1 MORc v.2
• New Zealand Company Law and Practice (CCH) KN261 L1 Z1 NEW 1993
Other Readings:
• Fisse, Ramsay and Walker, Securities Regulation in Australia and New Zealand (1998)
KN304.1 K3 WAL 1998 (Desk Copy)
• Walker G et al, Commercial Applications of Company Law in New Zealand (3rd ed, 2009)
KN261 L1 WAL 2009

Workload Expectations

This is a standard 10-point course. There will be around 24 hours of lectures in this course. As a general guide, you should expect a workload of three hours outside of the classroom for each hour spent in class. The guideline for the total workload for this course is 100 hours.

Digital Resources

Course materials are made available in a learning and collaboration tool called Canvas which also includes reading lists and lecture recordings (where available).

Please remember that the recording of any class on a personal device requires the permission of the instructor.

Academic Integrity

The University of Auckland will not tolerate cheating, or assisting others to cheat, and views cheating in coursework as a serious academic offence. The work that a student submits for grading must be the student's own work, reflecting their learning. Where work from other sources is used, it must be properly acknowledged and referenced. This requirement also applies to sources on the internet. A student's assessed work may be reviewed against online source material using computerised detection mechanisms.

Inclusive Learning

All students are asked to discuss any impairment related requirements privately, face to face and/or in written form with the course director, lecturer or tutor.

Student Disability Services also provides support for students with a wide range of impairments, both visible and invisible, to succeed and excel at the University. For more information and contact details, please visit the Student Disability Services’ website at http://disability.auckland.ac.nz

Special Circumstances

If your ability to complete assessed coursework is affected by illness or other personal circumstances outside of your control, contact a Student Academic and Support Adviser as soon as possible before the assessment is due.

If your personal circumstances significantly affect your performance, or preparation, for an exam or eligible written test, refer to the University’s aegrotat or compassionate consideration page: https://www.auckland.ac.nz/en/students/academic-information/exams-and-final-results/during-exams/aegrotat-and-compassionate-consideration.html.

This should be done as soon as possible and no later than seven days after the affected test or exam date.

Student Feedback

At the end of every semester students will be invited to give feedback on the course and teaching through a tool called SET or Qualtrics. The lecturers and course co-ordinators will consider all feedback and respond with summaries and actions.

Your feedback helps teachers to improve the course and its delivery for future students.

Class Representatives in each class can take feedback to the department and faculty staff-student consultative committees.

Student Charter and Responsibilities

The Student Charter assumes and acknowledges that students are active participants in the learning process and that they have responsibilities to the institution and the international community of scholars. The University expects that students will act at all times in a way that demonstrates respect for the rights of other students and staff so that the learning environment is both safe and productive. For further information visit Student Charter (https://www.auckland.ac.nz/en/students/forms-policies-and-guidelines/student-policies-and-guidelines/student-charter.html).

Disclaimer

Elements of this outline may be subject to change. The latest information about the course will be available for enrolled students in Canvas.

In this course you may be asked to submit your coursework assessments digitally. The University reserves the right to conduct scheduled tests and examinations for this course online or through the use of computers or other electronic devices. Where tests or examinations are conducted online remote invigilation arrangements may be used. The final decision on the completion mode for a test or examination, and remote invigilation arrangements where applicable, will be advised to students at least 10 days prior to the scheduled date of the assessment, or in the case of an examination when the examination timetable is published.

Published on 20/12/2019 09:57 a.m.