General Course Information
1.1 Course details
| Course code: | LLAW6244 / JDOC6244 |
| Course name: | Securities Regulation II |
| Programme offered under: | LLM Programme / JD Programme |
| Semester: | Second |
| Prerequisites / Co-requisites: | Successful completion of LLAW6049 Securities regulation I. [Priority to LLM(CR) FT & PT2 students] |
| Credit point value: | 9 credits / 6 credits |
1.2 Course description
The course will build on and develop concepts and issues that were considered in Securities Regulation I. The primary aspects of regulation the course is concerned with are (a) recent developments in issue, (b) capital markets and investment products, (c) enforcement and case law, and (d) Hong Kong in the context of global activities. These topics overlap and so are not mutually exclusive.
Hong Kong borders are relatively transparent when it comes to the extent of international participation in Hong Kong markets. Many of the activities and transactions undertaken here have an international nexus. In this light, Hong Kong regulations will be put in the context of the network of the international regulatory effort. The laws and regulations studied in the first part of this course will be recast in light of the common objectives, functions and principles that underlie the regulatory approach internationally despite the different regulatory architectures that may implement them. Appreciating the interconnectedness of international regulatory approaches will be relevant to a fuller consideration of subsequent topics in the course.
Recent issues and developments in Hong Kong regulatory system will be considered. A focus will be to develop a deeper understanding of the factors that have caused such developments including a consideration of the relevant international factors that must be taken in to account and why. Sample topics that may be covered include how the regulatory approach to takeovers, cryptoassets, and sustainable finance products and practices in Hong Kong and elsewhere are to be understood in the context of the proper functioning of a financial market place. A closer examination of certain parts of the Securities and Futures Ordinance will also be undertaken.
This part of the course will involve coursework that requires legal analysis and solution via class presentations and discussion.
1.3 Course teachers
| Name | E-mail address | Office | Consultation | |
| Course convenor | Syren Johnstone | syrenj@hku.hk | CCT 513 | By email |
Learning Outcomes
2.1 Course Learning Outcomes (CLOs) for this course
CLO 1 Critically examine the regulatory response to issues of current importance
CLO 2 Understand the regulatory concerns and requirements as affect the asset management industry and the development of new investment products
CLO 3 Describe and explain the OTC derivatives market, its connection with the global financial marketplace, and regulatory responses to unregulated markets of significance
CLO 4 Understand the approach taken by the SFC in enforcement actions and its increasing role in the courts
CLO 5 Appreciate the relationship between developments in Hong Kong regulations and those occurring internationally
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 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Assessment(s)
3.1 Assessment Summary
| Assessment task | Due date | Weighting | Feedback method* | Course learning outcomes |
| Class participation | N/A | 10% | 1, 2, 3, 4, 5 | |
| In-class coursework | TBC | 25% | 1, 2, 3, 4, 5 | |
| Take home exam^ | TBC | 65% | 1 | 1, 2, 3, 4, 5 |
^ Students are required to pass the exam to be eligible to pass the course.
| *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
| Lecture: | 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/