General Course Information
1.1 Course details
| Course code: | LLAW3299 |
| Course name: | Law and Regulation of Private Banking and Wealth Management |
| Programme offered under: | LLB Programme |
| Semester: | Second |
| Designated research course: | Not applicable |
| Specialization: | Commercial Corporation and Financial Law |
| Prerequisites / Co-requisites: | No |
| Course offered to non-law students: | No |
| Credit point value: | 6 credits |
[This course is cross-listed to LLM elective. Senior year LLB students (i.e. LLB 3-4 and Double Degree 4-5) are allowed to take certain LLM courses as their law electives but subject to meet certain requirements (please see LLB course selection guidelines).]
1.2 Course description
The unique positioning of Hong Kong being the pre-eminent private wealth management hub in Asia due to its strategic location at the heart of Asia having a long tradition of serving as an important gateway for capital flows into and out of the region; its proximity and connections to Mainland China and its robust legal and regulatory framework, low taxes and strong financial infrastructure are all important factors valued by private banking and wealth management sector. This course provides an excellent introduction to gain an understanding of the private banking and wealth management business models, the relevant regulatory framework and key industry issues.
Students will gain a rounded understanding of the private banking and wealth management business and products, licensing, compliance, operations, with a key focus on the applicable laws and regulations. Students will learn the perspectives of financial institutions and individual practitioners. Key concepts in the Banking Ordinance, Securities and Futures Ordinance and the SFC Code of Conduct will be examined. In particular, students will analyse issues concerning client agreements, landmark cases and selling processes. A key aim of the course is to develop students’ abilities to critically analyse, conduct research, communicate and articulate regulatory policies and impact on industry partcipants.
With a solid foundation of knowledge of private banking and wealth management laws and regulations, students will be able to further specialise in the financial services regulatory areas in legal, compliance or other business risk and control areas.
1.3 Course teachers
| Name | E-mail address | Office | Consultation | |
| Course convenor | Lea-Anne Lee | llee2218@hku.hk | CCT 709 | By email |
1.4 Course Outline (for elective course)
| Please click the link here for the course outline (HKU Portal login required). |
Learning Outcomes
2.1 Course Learning Outcomes (CLOs) for this course
CLO 1 Demonstrate an awareness of the key legislative and regulatory references under the Banking Ordinance, Securities and Futures Ordinance, SFC Code of Conduct, Circulars and the key regulated activities applicable to private banking and wealth management.
CLO 2 Understand the licensing regime and regulatory framework. Ability to describe and explain the function, powers, role and responsibilities of the regulators.
CLO 3 Understand ethics and compliance culture relating to financial activities.
CLO 4 Apply knowledge of regulations into business situations.
CLO 5 Develop research skills, writing skills and communication skills.
2.2 LLB Programme Learning Outcomes (PLOs)
Please refer to the following link: https://course.law.hku.hk/llb-plo/
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 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Assessment(s)
3.1 Assessment Summary
| Assessment task | Weighting | Feedback method* | Course learning outcomes |
| Class participation | 10% | 5 | 1, 2, 3, 4, 5 |
| Group presentation | 20% | 5 | 1, 2, 3, 4, 5 |
| Individual presentation | 20% | 5 | 1, 2, 3, 4, 5 |
| Take home exam | 50% | 2 | 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). See also Course Outline above.
3.3 Grading Criteria
Please refer to the following link: https://www.law.hku.hk/_files/law_programme_grade_descriptors.pdf
Learning Activities
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).
Learning Resources
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/