LLAW6093 & JDOC6093 (Class B)

General Course Information

1.1 Course details

Course code: LLAW6093 / JDOC6093 (Class B)
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
Cap on student numbers: 50
Remarks: 1. Priority to LLM(CFL) full time students.

2. Students of LLM(CR) are not allowed to take this course.

1.2 Course description

Designed for students considering or planning to work in the financial sector, this is an overview perspective course, for LLM (full-time) students without financial background. Specifically, the course will examine, from legal and policy perspectives, the fundamentals respecting regulation of the primary financial intermediaries and markets: i.e., money and banking, investment banking, and asset management and insurance. Emphasis will be on the on-going phenomenon of globalisation and interdependence/interconnection of financial markets and intermediaries, and the need for economies to develop viable and robust financial markets, with a particular focus on the global financial crisis (GFC) of 2007-2008 and the post-GFC legislative/regulatory developments. Use of international, comparative (especially China, US and UK) and interdisciplinary materials will be made.

1.3 Course teachers

Name E-mail address Office Consultation
Course convenor Emily Lee eleelaw@hku.hk CCT 613 By email

Learning Outcomes

2.1 Course Learning Outcomes (CLOs) for this course

CLO 1Be able to critically analyse how and why the credit crisis, sparked by Bear Stearns’ default on subprime mortgage bond payments in summer 2007 and confined largely to the US/investment banking circles, could evolve and eventually turn into the global financial crisis of 2007-2008.

CLO 2 Be familiar with the domestic legal framework as well as international regulatory and supervisory standards for ensuring and promoting the safety and soundness of the primary financial intermediaries and markets that accommodate and provide financial services for banking, securities trading and insurance.

CLO 3 Be able to understand and differentiate the different types of financial markets.
(i) money versus capital markets
(ii) primary versus secondary markets

CLO 4 Be able to understand how financial markets facilitate corporate finance and investment management.

CLO 5 Be able to apply international rules and standards (such as the Basel III framework and IAIS Insurance Core Principles and Methodology) to examine the effectiveness of Hong Kong’s legislative and supervisory framework under which financial markets and financial transactions are being governed and monitored by designated regulatory authorities.

CLO 6 Be able to assess the ramifications of increasing convergence or harmonization in international banking/securities law for the regulatory objectives of better customer/investor protection, market efficiency and systemic stability.

2.2 LLM and JD Programme Learning Outcomes (PLOs)

Please refer to the following link:

LLM – https://course.law.hku.hk/llm-plo/

JD – https://course.law.hku.hk/jd-plo/

2.3 Programme Learning Outcomes to be achieved in this course



3.1 Assessment Summary

Assessment task Due date Weighting Feedback method* Course learning outcomes
In-class group presentation 7 Nov 2023 15% 1, 2, 3, 4, 5, 6
Group presentation written submission 28 Nov 2023 15% 1, 2, 3, 4, 5, 6
Take home exam 12 Dec 2023 70% 1 1, 2, 3, 4, 5, 6
*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: 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: 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/