General Course Information
1.1 Course details
| Course code: | LLAW6239 / JDOC6239 |
| Course name: | Law and Regulation of Private Banking and Wealth Management |
| Programme offered under: | LLM Programme / JD Programme |
| Semester: | Second |
| Prerequisites / Co-requisites: | No |
| Credit point value: | 9 credits / 6 credits |
1.2 Course description
The eruption of the global financial crisis in 2008 has led various organizations such as the G20, Financial Stability Board, Basel Committee on Banking Supervision and the IMF, to implement new regulatory and economic policies. This has also been reflected locally through the changes in various regulatory regimes implemented by our local regulators.
A proper risk and crisis management process and procedures meeting regulatory challenges become mandatory for banks and financial intermediaries. Also, the instillation of corporate governance culture and process is important and key to balancing investor protection and market development.
For practitioners (risk and compliance professionals, bankers, financial advisors and lawyers) and those prepare to enter into the private banking and wealth management industry, to stay advanced in the game, a good understanding of the business, compliance, law and regulations would be highly advantageous.
This course is specially designed to give students a better understanding of the private banking and wealth management business, compliance, operations, laws and regulations, with a focus on understanding the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (“Code of Conduct”). In addition to the academic requirement, the course emphasizes real-life experience and sharing from practitioners’ perspectives. Case laws and SFC Disciplinary Actions on compliance and regulatory areas (i.e. Know Your Client, product due diligence, suitability and selling process, etc) will be discussed. Important legal and regulatory components and Ordinances on clients on-boarding process, compliance requirement, sales process, end-to-end client relationship management, corporate governance, sales ethics, clients suitability and sustainability & risk profiling, data privacy, etc. will be discussed in details. In addition, SFC’s disciplinary power on regulated persons will also be discussed.
1.3 Course teachers
| Name | E-mail address | Office | Consultation | |
| Course convenor | Lea-Anne Lee | TBA | TBA | By email |
Learning Outcomes
2.1 Course Learning Outcomes (CLOs) for this course
CLO 1 Acquire sound understanding of the current market landscape, regulatory and compliance changes, opportunities and challenges.
CLO 2 Familiar with regulations (the Code of Conduct) and ordinances (the Securities and Futures Ordinance) relevant to the private banking, retail banking and wealth management industries.
CLO 3 Familiar with the type and range of issues that can arise during client on-boarding, suitability and selling process.
CLO 4 Familiar with regulations on corporate governance and best code for business.
CLO 5 Equip with knowledge on dealing with regulatory complaints.
CLO 6 Familiar with the power and the process of disciplinary actions.
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
| PLO A | PLO B | PLO C | PLO D | PLO E | PLO F | |
| CLO 1 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| CLO 2 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| CLO 3 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| CLO 4 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| CLO 5 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| CLO 6 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Assessment(s)
3.1 Assessment Summary
| Assessment task | Due date | Weighting | Feedback method* | Course learning outcomes |
| To be confirmed | TBC | 100% | 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: | 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/