LLAW6093 Regulation of financial markets

1.1 Course details

Course code: LLAW6093 (Class A) / JDOC6093
Course name: Regulation of Financial Markets
Programme offered under: LLM Programme / JD Programme
Semester: First
Prerequisites / Co-requisites: No
Credit point value: 9 credits / 6 credits
Remarks: Priority to LLM(CFL) students

1.2 Course description

The objective of the course is to develop an understanding of the development of financial markets, the role and function of financial markets, their risks and international efforts to address those risks. The focus is, in particular, on regulatory designs and supervisory strategies deployed to address critical policy matters. The course does not aim at addressing substantive legal rules, but rather at equipping students with a conceptual map to critically examine the risks and issues underlying the development of stable and robust financial markets globally. Hence, the skills that will be developed through this course will include a deeper understanding of current policies, regulatory designs, and supervisory strategies.

1.3 Course teachers

Name E-mail address Office Consultation
Course convenor Giuliano Castellano g.castellano@hku.hk CCT 703 By email

2.1 Course Learning Outcomes (CLOs) for this course

CLO 1 Be able to critically analyse regulatory policies to preserve the stability of the financial system, implemented in the aftermath of the 2007-2009 financial crisis.

CLO 2 Be familiar with domestic legal frameworks as well as international regulatory and supervisory standards for ensuring and promoting the safety and soundness of the primary financial intermediaries and markets.

CLO 3 Be able to understand and critically examine different regulatory approaches, such as ‘principle based’ and ‘risk-based’ regulation deployed to ensure market integrity financial stability.

CLO 4 Be able to understand the role of financial markets in modern society.

CLO 5 Be able to assess the ramifications of increasing convergence or harmonization in international regulatory standards concerning market integrity, efficiency, access to credit, and systemic stability.

2.2 LLM Programme Learning Outcomes (PLOs)

PLO A On successful completion of the curriculum, students should be able to demonstrate a solid understanding of the body of legal knowledge and the capacity to conduct research on, critically analyse and evaluate legal principles, at a level required to meet the standards and expectations of the legal profession and the community at large.

PLO B On successful completion of the curriculum, students should be able to apply their legal knowledge and research skills to practical situations or theoretical challenges, and utilise their comparative understanding of the law and its political, social and cultural contexts to provide original and creative insights to legal problems.

PLO C On successful completion of the curriculum, students should be able to apply the knowledge, lawyering skills and legal reasoning to real and novel situations in life, with a view to resolving issues, problems and disputes within the legal parameters.

PLO D On successful completion of the curriculum, students should be able to demonstrate the ability to present effectively legal arguments in the professional context, as well as conveying and explaining the law effectively to lay clients and members of the larger community.

PLO E On successful completion of the curriculum, students should be able to appreciate the underlying moral values of the law and ethics in the profession and the legal system in the broad social, economic, political and cultural contexts: justice, the Rule of Law, and protection of rights and liberties which form the fabrics of a civilised society, and the importance of upholding these values by the legal community.

PLO F On successful completion of the curriculum, students should be able to develop a strong awareness of social issues and conditions, and utilise analytical abilities and rhetorical advocacy to provide leadership for the betterment of the human community.

2.3 Programme Learning Outcomes to be achieved in this course

PLO A PLO B PLO C PLO D PLO E PLO F
CLO 1  ✓  ✓
CLO 2  ✓  ✓
CLO 3  ✓  ✓
CLO 4
CLO 5

3.1 Assessment Summary

Assessment task Due date Weighting Feedback method* Course learning outcomes
Class participation N/A 20% 1, 2, 3, 4, 5
Take home exam 15 Dec 2020 80% 1, 2, 3, 4, 5
*Feedback method (to be determined by course teacher)
1 A general course report to be disseminated through Moodle
2 Individual feedback to be disseminated by email / through Moodle
3 Individual review meeting upon appointment
4 Group review meeting
5 In-class verbal feedback

3.2 Assessment Detail

To be advised by course convenor(s).

3.3 Grading Criteria

Please refer to the following link: http://www.law.hku.hk/course/grading-criteria/

4.1 Learning Activity Plan

Seminar: 3 hours / week for 12 teaching weeks
Private study time: 9.5 hours / week for 12 teaching weeks

Remarks: the normative student study load per credit unit is 25 ± 5 hours (ie. 150 ± 30 hours for a 6-credit course), which includes all learning activities and experiences within and outside of classroom, and any assessment task and examinations and associated preparations.

4.2 Details of Learning Activities

To be advised by course convenor(s).

5.1 Resources

Reading materials: There is no single required text for the course. Instead, distributed materials will be made available via Moodle each week. Note that hard copies will not be distributed.
Core reading list: Not applicable
Recommended reading list: TBA

5.2 Links

Please refer to the following link: http://www.law.hku.hk/course/learning-resources/

By the publication of the course profile online, the Faculty deems the student as having been notified of the course requirements.