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The course builds on the knowledge you gained from the study of the pre-requisite courses. You will now develop students' understanding of the world of banking, finance and insurance. This course will equip students with an understanding of the legal framework of these vital sectors of the Australian economy.

The course provides a general introduction to many aspects of banking, finance and insurance law. Students will broadly examine the law relating to the governance of the banking industry, the banker/customer relationship, electronic banking, negotiable instruments, securities, securitisation and various insurance law features. The course is designed to engage students in the contemporary legal context. As such, the course will analyse the causes of, and the regulatory and governmental responses to, the global financial crisis as well as considering recently introduced consumer protection measures including the National Credit Consumer Protection Act 2009 and the unfair contract terms regime.

On successful completion of this course, students should be able to:

1. provide an overview and identify key parts of the current regulatory regime for banks and other financial institutions in Australia;
2. identify key areas of the banker and customer relationship;
3. understand the impact of the legislative and common law framework on the consumer banking environment including the National Credit Code, the Corporations Act 2001, the Privacy Act 1988, the ASIC Act 2001, the unfair contract terms legislation and 鈥渇air fees鈥� litigation;
4. understand the law regulating payment systems, including bills of exchanges, cheques, other negotiable instruments and electronic payment systems;
5. examine the various methods used by financial institutions and other financiers to secure lending contracts (such as mortgages and guarantees);
6. identify and explain concepts such as fundraising requirements under the Corporations Act 2001, ASX listing rules, securitisation and Islamic finance;
7. understand, explain and apply the basic principles of insurance law;
8. understand the legislation that regulates insurance, in particular the Insurance Contracts Act 1984;
9. apply logical argument, in written or oral form, to hypothetical factual circumstances and their associated legal problems that arise in modern banking, finance and insurance law;
10. develop the capacity to place banking, finance and insurance law in the wider global commercial perspective.