AYB232 Financial Services Regulation and Law
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | AYB232 |
|---|---|
| Prerequisite(s): | (BSB110 or BSB107) and ((LLB101 and LLB202) or BSB111 or BSB151) and EFB210. EFB210 can be enrolled in the same teaching period. |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,040 |
| Pre-2021 CSP student contribution | $1,597 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,024 |
| International unit fee | $4,044 |
Unit Outline: Semester 2 2024, Gardens Point, Internal
| Unit code: | AYB232 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | (BSB110 or BSB107) and ((LLB101 and LLB202) or BSB111 or BSB151) and EFB210. EFB210 can be enrolled in the same teaching period. |
| Coordinator: | Liyana Arachchige Ashesha Pave Weerasinghe | l3.weerasinghe@qut.edu.au |
Overview
This course is developed for students who will be, or intend to embark on careers as, financial advisors and planners, accountants, auditors, business analysts and stockbrokers. It is designed to aid the students' understanding of the regulatory fundamentals and the key provisions of the law and regulations relating to corporate securities and financial services.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate knowledge of Australian financial services regulation and law i.e. legislation, cases, and regulatory policies.Relates to: UG Business Capabilities: KS (1.1)
- Exercise critical thinking, evaluation and judgement for evidence-based problem solving and decision making in the context of participants' perspectives of financial services regulation.Relates to: UG Business Capabilities: HO (2.2)
- Communicate in written and oral forms to clearly and professionally structure and present ideas, judgements and opinions.
- Demonstrate knowledge of regulatory frameworks relating to financial services and their application to real world contexts.Relates to: UG Business Capabilities: SE (5.1)
Content
This unit looks at the laws and regulations applicable to corporate securities and financial services in Australia. The unit will cover Australian Financial Services Licence (AFSL) requirements, ASIC powers, regulation of financial products and services including disclosure obligations, Anti-money Laundering (AML) / Counter-Terrorism Financial (CTF) legislative requirements, privacy legislation, and FASEA Code of Ethics and monitoring body requirements. You will become cognisant with Tax Practitioner Board requirements and Continuing Professional Development needed in the financial advice industry, disclosure documents and effective disclosure requirements.
The generic capabilities developed in this unit are discipline knowledge, higher order thinking involving judgement, written communication skills, and knowledge of legal issues.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and learning outcomes of the unit. The emphasis in Financial Services Regulation & Law is to introduce students to legal principles applicable to corporate securities and financial services.
This unit will employ different strategies to facilitate student learning. Formal weekly seminars incorporate both lecture and workshop content and are accompanied by weekly power point slides and other learning materials - all available from the unit Canvas site.
Workshops provide an opportunity for you to further develop an understanding of many of the key issues and concepts dealt with in the seminars and an opportunity to understand the key principles and apply the regulations onto conceptual or problem type questions. Workshops also provide an opportunity and forum to discuss issues with your lecturer. It is beneficial to complete the workshop questions prior to attending that particular workshop session.
Past experience indicates there is a strong correlation between students attendance and success in the unit.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Note: Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Research Activity
Students will individually research a selected topic relating to a particular weeks' learnings and prepare a short presentation summarising their findings and analysis of the relevant issues.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.2), PC (3.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Financial Regulation Case
Students will be provided with a case which will require them to research on a particular financial planning regulation issue.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.2), PC (3.1), SE (5.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Examination
Theory examination. This examination covers the whole of semester content. More details will be provided towards the end of the semester. The purpose of this assessment is to determine a student's knowledge of key concepts and issues raised throughout the semester.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), SE (5.1)
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Ashley Black and Pamela Hanrahan (2021), Securities and Financial Services Law, 10th Edition, Sydney, LexisNexis
Australian Corporations Legislation (2021) Student Edition, Sydney, LexisNexis.
Other
Prescribed Legislation:
Corporations Act 2001 (Cth)- Commonwealth Government Printer
Australian Securities and Investment Commission Act 2001 (Cth) - Commonwealth Government Printer
(These Acts are available on the internet at http://www.austlii.edu.au or http://law.agps.gov.au).
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: End of Semester Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO2, Research Activity, Financial Regulation Case
KS (1.1): Discipline Knowledge
Relates to: ULO1, End of Semester Examination
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Financial Regulation Case
PC (3.2): Professional Communication (Oral)
Relates to: ULO3, Research Activity
SE (5.1): Ethical and Legal Understanding
Relates to: ULO4, Financial Regulation Case, End of Semester Examination
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, End of Semester Examination - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: End of Semester Examination - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO2, Research Activity, Financial Regulation Case - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Financial Regulation Case - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO3, Research Activity - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO4, Financial Regulation Case, End of Semester Examination
Unit Outline: Semester 2 2024, Online
| Unit code: | AYB232 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | (BSB110 or BSB107) and ((LLB101 and LLB202) or BSB111 or BSB151) and EFB210. EFB210 can be enrolled in the same teaching period. |
Overview
This course is developed for students who will be, or intend to embark on careers as, financial advisors and planners, accountants, auditors, business analysts and stockbrokers. It is designed to aid the students' understanding of the regulatory fundamentals and the key provisions of the law and regulations relating to corporate securities and financial services.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate knowledge of Australian financial services regulation and law i.e. legislation, cases, and regulatory policies.Relates to: UG Business Capabilities: KS (1.1)
- Exercise critical thinking, evaluation and judgement for evidence-based problem solving and decision making in the context of participants' perspectives of financial services regulation.Relates to: UG Business Capabilities: HO (2.2)
- Communicate in written and oral forms to clearly and professionally structure and present ideas, judgements and opinions.
- Demonstrate knowledge of regulatory frameworks relating to financial services and their application to real world contexts.Relates to: UG Business Capabilities: SE (5.1)
Content
This unit looks at the laws and regulations applicable to corporate securities and financial services in Australia. The unit will cover Australian Financial Services Licence (AFSL) requirements, ASIC powers, regulation of financial products and services including disclosure obligations, Anti-money Laundering (AML) / Counter-Terrorism Financial (CTF) legislative requirements, privacy legislation, and FASEA Code of Ethics and monitoring body requirements. You will become cognisant with Tax Practitioner Board requirements and Continuing Professional Development needed in the financial advice industry, disclosure documents and effective disclosure requirements.
The generic capabilities developed in this unit are discipline knowledge, higher order thinking involving judgement, written communication skills, and knowledge of legal issues.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and learning outcomes of the unit. The emphasis in Financial Services Regulation & Law is to introduce students to legal principles applicable to corporate securities and financial services.
This unit will employ different strategies to facilitate student learning. Formal weekly seminars incorporate both lecture and workshop content and are accompanied by weekly power point slides and other learning materials - all available from the unit Canvas site.
Workshops provide an opportunity for you to further develop an understanding of many of the key issues and concepts dealt with in the seminars and an opportunity to understand the key principles and apply the regulations onto conceptual or problem type questions. Workshops also provide an opportunity and forum to discuss issues with your lecturer. It is beneficial to complete the workshop questions prior to attending that particular workshop session.
Past experience indicates there is a strong correlation between students attendance and success in the unit.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Note: Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Research Activity
Students will individually research a selected topic relating to a particular weeks' learnings and prepare a short presentation summarising their findings and analysis of the relevant issues.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.2), PC (3.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Financial Regulation Case
Students will be provided with a case which will require them to research on a particular financial planning regulation issue.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.2), PC (3.1), SE (5.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Examination
Theory examination. This examination covers the whole of semester content. More details will be provided towards the end of the semester. The purpose of this assessment is to determine a student's knowledge of key concepts and issues raised throughout the semester.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), SE (5.1)
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Ashley Black and Pamela Hanrahan (2021), Securities and Financial Services Law, 10th Edition, Sydney, LexisNexis
Australian Corporations Legislation (2021) Student Edition, Sydney, LexisNexis.
Other
Prescribed Legislation:
Corporations Act 2001 (Cth)- Commonwealth Government Printer
Australian Securities and Investment Commission Act 2001 (Cth) - Commonwealth Government Printer
(These Acts are available on the internet at http://www.austlii.edu.au or http://law.agps.gov.au).
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: End of Semester Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO2, Research Activity, Financial Regulation Case
KS (1.1): Discipline Knowledge
Relates to: ULO1, End of Semester Examination
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Financial Regulation Case
PC (3.2): Professional Communication (Oral)
Relates to: ULO3, Research Activity
SE (5.1): Ethical and Legal Understanding
Relates to: ULO4, Financial Regulation Case, End of Semester Examination
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, End of Semester Examination - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: End of Semester Examination - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO2, Research Activity, Financial Regulation Case - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Financial Regulation Case - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO3, Research Activity - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO4, Financial Regulation Case, End of Semester Examination