General Course Information

1.1 Course details

Course code: LLAW6254
Course name: Compliance: Regulation in Practice
Programme offered under: LLM Programme
Semester: Second
Prerequisites / Co-requisites: LLAW6255 Compliance and Financial Markets
Credit point value: 9 credits
Remarks: Only offer to LLM(CR) students

1.2 Course description

The finance industry is facing increasing demand of compliance to the changing regulatory landscape. The increase of regulations stem from the need of investors’ protection, building investors’ confidence and maintaining market integrity. Understanding the universe of regulation and the factors influencing the industry’s conduct is an important cornerstone for the development of the finance industry.

The course focuses on the development of the local regulatory framework governing business operations of financial institutions as well as market conduct and the conduct of financial intermediaries. The course will provide a framework to understand financial regulations, codes and guidelines in banking, securities and asset management industry applying to  persons licensed by or registered with the Hong Kong Monetary Authority (“HKMA”) and/or the Securities and Futures Commission (“SFC”) and their application in practice.  The course will cover the SFO, the Banking Ordinance and the various regulations issued by the SFC and the HKMA since the 2008 crisis. Global and regional regulatory frameworks will be examined in the context of Hong Kong as an international finance centre. The impact to the risk and compliance functions of financial services sector will be discussed. Reference with other areas of law, including contract law and tort law will be made as appropriate.

The course is aimed at a practical approach from a policy perspective.  The course is also aimed to better equip students to engage with financial regulators in a regulatory dialogue. Case studies on a local and international level may be used to assist a better understanding the regulatory nexus of Hong Kong as a global finance centre.  The course will review important cases to support understanding and application. Practical examples will be used where possible.

1.3 Course teachers

Name E-mail address Office Consultation
Course convenor Alice Law asmlaw@hku.hk N/A By email

Learning Outcomes

2.1 Course Learning Outcomes (CLOs) for this course

CLO 1 Have an understanding of the importance of preserving market integrity and the reforms that become necessary following market crises. .

CLO 2 Be able to critically discuss financial regulatory reforms addressing the balance between investors protection and market development.

CLO 3 Have an understanding of the relevant parts  of the Securities and Futures Ordinance and other related financial regulation. including the supervisory and disciplinary power/functions of financial regulators. .

CLO 4 Demonstrate an awareness of the policy consideration of the Financial Regulatory Framework and the applicable principles, codes and guidelines governing regulated businesses.

CLO 5 Understand the role of compliance in a financial intermediary and apply concepts of regulatory governance to business situations.

2.2 LLM Programme Learning Outcomes (PLOs)

Please refer to the following link: https://course.law.hku.hk/llm-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 participation N/A 10% 5 1, 2, 3, 4, 5
In-class coursework presentation TBC 30% 1, 2, 3, 4, 5
Take home exam 9 May 2024 60% 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).

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 11 teaching weeks
Private study time: 9.5 hours / week for 11 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/