LAW7220 - Money laundering

Leader: Dr Vicky Priskich

Offered

City (Melbourne) Term 3 2008 (On-campus block of classes)

Synopsis

Issues relating to the regulation of the Australian banking and finance industry including government regulation and industry self-regulation. Legal basis of the banker-customer relationship. Current legal and equitable issues relating to the banker-customer relationship. Fiduciary, statutory, contractual and/or tortious duties that may be imposed on bankers in relation to banking and associated activities. Current legal risks inherent in common lending transactions. Policy considerations relating to statute, common law and equitable principles which may impact on the banking and finance industry.

Objectives

Upon completion of this unit students should

1. have a general understanding of the various regulatory systems in place within the Australian banking and finance industry including both government regulation and industry self regulation;
2. have a detailed understanding of particular issues of current interest arising from the regulation of the banking and finance industry;
3. have a general understanding of the legal basis of the banker-customer relationship and of the kinds of transactions usually contemplated within that relationship;
4. have a general understanding of the kinds of transactions engaged in by banking and financial institutions which do not necessarily fall within the ambit of the traditional banker-customer relationship;
5. have a detailed understanding of specific contractual, tortious, statutory and equitable responsibilities which may confront a bank or financial institution in the course of banking and associated activities;
6. have examined in detail a number of current legal issues that may arise in relation to standard lending transactions, particularly those which may impose "indirect" or "unforeseen" risks on banks and financial institutions;
7. have developed skills of evaluation of common law and statutory principles to ascertain their potential impact on standard banking and finance transactions;
8. be able to understand, evaluate and apply legal and policy arguments in favour of reform of certain areas of law and practice insofar as they might impact on the banking and finance industry.

Assessment

Take home exam (3,750 words): 50%
Research Paper (3,000 words): 40%
Class Presentation / Participation: 10%

Contact hours

Intensive