Unit Outline

This unit covers a range of interesting legal and financial planning regulatory topics. It teaches students how to analyse and solve legal problems and looks at the regulatory obligations that are imposed upon financial planners. It equips students with basic problem-solving techniques that are essential skills for those wishing to work in the field of financial planning. The unit combines topics that are necessary to build an understanding of how basic legal concepts impact and assist business organisations and individuals in business. This includes an examination of: the sources of law; how to read and understand legislation and case law; basic business; contract law principles, (including a consideration of terms in a contract and rights on breach of contract); liability in tort law; agency and consumer law; Australian corporate law and corporate governance principles. This unit also provides you with an introduction to the regulatory obligations of financial planners under the Corporations Act and other legislation and regulation that regulates providers of financial services and products. In financial planning, a great deal of time is spent on developing strategies so that individuals can accumulate wealth while they are alive. Much less time is spent on organising recognising the ongoing regulatory obligations.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Analyse the sources of law and legal principles relating to business organisations, contract, tort and consumer law and explain how business organisations are formed and the responsibilities relating to the creation and operation of them.
2.	Critically reflect on the effectiveness of the various forms of business organisations and the functions of financial planning.
3.	Compose in written form, an analysis of issues of business and corporate law, financial planning and their applications.
4.	Appraise the regulation that applies to financial service providers (in relation to the provision of Financial Service Guides, Statements of Advice and Anti money laundering).
5.	Assess the requirements in relation to privacy legislation and the regulatory requirements for Tax advisors

Alterations as a result of student feedback

To Be Determined

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Case study	Week 6	30 %	LO1, LO2, LO3, LO4, LO5
Assessment Task 2:	Assessment Task 3: Final Exam	Exam Period	40 %	LO1, LO2, LO3, LO4, LO5
Assessment Task 3:	Application questions	Refer to Assessment Description	30 %	LO1, LO2, LO3, LO4, LO5

Assessment details

Assessment Task 1: Case study

Task Description:

Case Study Report
This assessment is worth 30% of your total semester assessment.
This is an individual assessment task and consists of Two (2) questions. You will need to provide a written in-depth analysis of legal and financial planning issues faced by various forms of business organisations and in a given case study scenario. You will describe the sources of law and legal principles relating to business organisations, contract, tort, and consumer law and explain how business organisations are formed and the responsibilities relating to the creation and operation of them.

Further information will be provided on MyLO.

Task Length:

1500 words

Due Date:

Week 6

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Identify and describe the law relating to business transactions and to various forms of business organisations.	LO1
2	Apply basic legal problem-solving techniques and legal rules to case studies to reach practical conclusions.	LO2, LO4
3	Evaluate the regulation and law that applies to financial service providers and taxation advisors.	LO4, LO5
4	Formulate a written legal and financial planning advice in the appropriate form.	LO3

Assessment Task 2: Assessment Task 3: Final Exam

Task Description:

This is an individual assessment task and is worth 40% of your total assessment.

The purpose of the final exam is to assess your understanding of the theories and legal concepts learned in the semester, as well as your competence in critiquing, reflecting upon and evaluating legal principles and the regulatory obligations imposed.

The final exam will consist of both short and long answer questions. The short answer questions involve the need to summarise, define and explain the concepts and theories acquired.
The long answer questions involve you providing legal and financial planning regulatory advice as required by the factual situations presented.

Further information will be provided on MyLO.

Task Length:

24 hours

Due Date:

Exam Period

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Assess your understanding of the theories and legal concepts.	LO1, LO4, LO5
2	Critique legal principles and the regulatory obligations imposed.	LO2, LO3

Assessment Task 3: Application questions

Task Description:

This is an individual assessment task and is worth 30% of your total assessment.

Three (3) topic activities/questions due in Weeks 3, 5 & 8. The purposes of these activities/questions are to ensure you are preparing for workshops and are able to fully engage at workshops. We will formally assess your individual responses submitted to MyLO for a minimum of three sets of application questions (i.e., your responses to the questions from three different weeks). Further instructions will be provided by via MyLO. During each of these weeks you will submit your responses to a MyLO Assignment Submission folder, prior to Thursday 5 pm for the given week. Your responses to the application questions will be assessed on the following factors: 1. Complete the application questions to the best of your ability. You must work on the question responses independently. 2. Originality of your response. Responses copied directly from the textbook (rather than summarised in your own words) or from solution manuals will receive a reduced or zero mark. 3. Marks may be given for incorrect answers if they reflect thoughtfulness and are insightful. 4. Responses to the allocated application questions should be submitted to MyLO by Thursday 5.00 pm for the relevant week. You must submit your answers together with any supporting notes or calculations. This should be no more than 3 A4 pages in length. 5. You should attach your responses to the MyLO Application Questions Submission folder using one of the following formats: • A Microsoft Word Document. • A scan of your written work (in JPG/JPEG or PDF format).

Further information will be provided on MyLO.

Task Length:

Refer to the assessment description.

Due Date:

Refer to Assessment Description

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Analyse the law relating to business transactions and to various forms of business organisations.	LO1
2	Apply basic problem-solving techniques and legal rules and regulations to case studies to reach practical conclusions.	LO2, LO4
3	Evaluate the regulation and law that applies to financial service providers and taxation advisors	LO4, LO5
4	Construct a written legal and financial planning advice report.	LO3, LO5

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

Business Law (sixth edition) by James and Thomas (2022) Wiley