LLAW6222 Financial dispute resolution: Hong Kong and international perspectives

1.1 Course details

Course code: LLAW6222 / JDOC6222
Course name: Financial Dispute Resolution: Hong Kong and International Perspectives
Programme offered under: LLM Programme / JD Programme
Semester: Second
Prerequisites / Co-requisites: No
Credit point value: 9 credits / 6 credits
Cap on student numbers: 30

1.2 Course description

Background

In February 2010 the Hong Kong Government through the Financial Services and the Treasury Bureau (FSB) released a consultation paper entitled “Proposed Establishment of an Investor Education Council and a Financial Dispute Resolution Centre” (Consultation Paper). In dealing with the fallout from the global financial crisis the Hong Kong Government had decided that a new mechanism was necessary to deal with certain types of financial disputes. The Financial Dispute Resolution Centre (FDRC) will be created as a private company under the auspices of the FSB, the Hong Kong Securities and Futures Commission (HKSFC) and the Monetary Authority of Hong Kong (HKMA), although the intention is that the FDRC was independent of each body. This represents a significant new step for Hong Kong although it is in line with established practices in other jurisdictions (e.g. the United Kingdom, Singapore, United States). 

Course Overview

In the wake of the Global Financial Crisis (GFC) various dispute resolution responses occurred. In respect of consumer/institution disputes, the course will focus on the new financial dispute resolution regime in Hong Kong and the establishment of the Financial Dispute Resolution Centre (FDRC) and what these developments may signify for the future of resolving financial disputes in Hong Kong. In addition, the course will provide a comparative overview of financial dispute resolution from some selected markets globally. In response to increasing investor participation in financial markets, regulators and governments have sought different ways of responding to investor-broker disputes. This course will analyze these different approaches and discuss the impact of legal systems, markets and cultural preferences. The course will consider what choices have been made by Hong Kong in order to adapt to local circumstances and will challenge students to assess these choices in the light of global experience.

In respect of institutional disputes, the course also considers how institutional clients are beginning to turn to ADR to solve their disputes e.g. PRIME Finance. The design of dispute resolution systems can be key to their success. Students will be expected to understand who the stakeholders are in financial disputes, what their specific needs are and how systems can be designed to address these concerns.

The class will be assigned reading in advance of class. Students will be expected to participate in discussions and role-plays during class. Students will work on a specific case study and work to resolve the dispute through negotiation, mediation and arbitration.

1.3 Course teachers

Name E-mail address Office Consultation
Course convenor Sala Sihombing sala@conflictchange.com N/A By email

 

2.1 Course Learning Outcomes (CLOs) for this course

CLO 1 Describe and explain the relationship between investors, financial service providers and the FDRC. Demonstrate basic knowledge about some of the financial instruments that are commonly used.

CLO 2 Use relevant information about international approaches to financial dispute resolution to analyse the structure and aims of the FDRC as compared to those in other financial centres.

CLO 3 Apply their comparative knowledge of international practice in understanding differences with the Hong Kong model and being able to assess the Hong Kong model in a global context.

CLO 4 Understand and be able to explain how institutional financial disputes are handled and recent developments.

CLO 5 Apply their knowledge of ADR systems to financial disputes and consider how best the needs of investors and financial service providers may be met in Hong Kong.

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
Individual letter TBC 30% 1, 2, 3, 4, 5
Research paper TBC 70%  1 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

Lecture: 8 hours / week for 5 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 ± 5 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: Reading materials are posted on Moodle
Core reading list: TBA
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.