Overview

This unit aims to provide students with an understanding of the laws of financial regulations governing the provision of financial services to retail and wholesale clients in Australia. Detailed consideration is given to the role of regulators, the banker- customer relationship, electronic banking, insurance and superannuation. The unit also sensitises students to the ethical considerations faced when dealing with consumers on behalf of financial institutions.

Requisites

Prerequisites

150 credit points

Teaching periods
Location
Start and end dates
Last self-enrolment date
Census date
Last withdraw without fail date
Results released date
Semester 1
Location
Hawthorn
Start and end dates
03-March-2025
01-June-2025
Last self-enrolment date
16-March-2025
Census date
31-March-2025
Last withdraw without fail date
24-April-2025
Results released date
08-July-2025
Teaching Period 1
Location
Online
Start and end dates
10-March-2025
08-June-2025
Last self-enrolment date
23-March-2025
Census date
04-April-2025
Last withdraw without fail date
02-May-2025
Results released date
01-July-2025

Learning outcomes

Students who successfully complete this unit will be able to:

  • Demonstrate an understanding of the legal and regulatory framework within which financial services providers operate
  • Apply knowledge of laws to problem scenarios that may be encountered in business dealings between financial institutions and consumers
  • Evaluate the legal relationships (including fiduciary duties) between financial services providers and their clients
  • Articulate the legal and ethical responsibilities of the participants in the finance industry

Teaching methods

Hawthorn

Type Hours per week Number of weeks Total (number of hours)
On-campus
Class		2.00 12 weeks 24
Online
Lecture		1.00 12 weeks 12
Unspecified Activities
Independent Learning		9.50 12 weeks 114
TOTAL150

Swinburne Online and OUA

Type Hours per week Number of weeks Total (number of hours)
Online
Directed Online Learning and Independent Learning		12.50 12 weeks 150
TOTAL150

Assessment

Type Task Weighting ULO's
AssessmentIndividual 40 - 60% 1,2,3,4 
Online QuizIndividual 10 - 20% 1,3 
Written AssignmentIndividual 30 - 40% 1,2,3,4 

Content

Topics may include:

  • Brief introduction to the Australian legal system and the regulations relating to the provision of financial services
  • Banker and customer
  • Legal relationship between lender and borrower
  • The Banking Code, Financial Ombudsman Service and the Australian Financial Complaints Authority
  • Financial transactions in the digital environment
  • Insurance law
  • Superannuation law
  • Consumer protection
  • Ethics in the financial industry

Study resources

Reading materials

A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.