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FPC001B Economic and Legal Context for Financial Planning (aligns to FAS bridging course: Financial Advice Regulatory and Legal Obligations)

This subject focuses on key economic and commercial law concepts, including economic issues of current relevance. The subject is designed to develop the ability to interpret basic economic information and understand the impact of current economic and market events. The subject highlights the prescribed areas of the Australian legal system, law of entities, contract law, property law and tort law and negligence, introducing students to the key drivers of law and regulation in the Australian financial services industry.

On completion of this subject, students will be able to appreciate the critical role that economic and commercial regulation play in wealth management and financial planning.

Students will follow a fictitious case study through much of the assessment, so that they may apply their understanding of the above concepts and explore issues that could apply in financial planning.

FPC001B Economic and Legal Context for Financial Planning complies with Corporations (Relevant Providers—Education and Training Standards) Determination 2021, division 3, section 3-65 Specified course: commercial law.

Students are able to attend a one-hour online interactive workshop, where key topic concepts and examples are discussed with a facilitator. Additionally, students are able to attend weekly drop-in sessions, where students can ask questions to gain further clarification on key concepts and the assessments.

Students are encouraged to attend the interactive workshop and weekly drop-in session throughout the study period.

For more information, please refer to the subject outline.

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  • Learning outcomes

    • On successful completion of this subject, individuals should be able to:

      1. Distinguish between the different roles of participants in financial markets.
      2. Analyse how changes in government policy and key economic indicators impact Australian and global financial markets.
      3. Examine the main sources and regulatory structure of financial services law in Australia, including participants’ ethical and legal obligations.
      4. Analyse the nature, meaning and form requirements of contracts, and examine the impact of legislation upon contract law.
      5. Describe the characteristics of sole traders, partnerships, corporations, and trusts and determine the regulatory implications for each entity.
      6. Explore and apply the common law elements of tort law and negligence, and the misleading and deceptive conduct provisions in the context of financial advice.

  • Subject Content
    • Topic Title
      Topic 1 Overview of global financial markets and participants
      Topic 2 Economic principles and management
      Topic 3 Introduction to the Australian legal system
      Topic 4 Overview of financial services law and regulations
      Topic 5 Regulatory framework
      Topic 6 Australian financial services licence
      Topic 7 Disclosure
      Topic 8 Business structures
      Topic 9 Contract and property law
      Topic 10 Tort law and negligence

  • CPD

    • Kaplan Professional has assessed this subject. Click here for the following CPD hours applicable from 1 January 2019 on successful completion of this course. For subjects or courses completed prior to this date, please contact Kaplan Professional’s CPD Support team on 1300 527 526 or pdmail@kaplan.edu.au.

  • Duration

    • The duration of this subject is one study period (12 weeks).

  • Assessment
  • Assumed knowledge

    • Not applicable.

  • Course transition subject equivalence

    • Individuals may not be required to complete this subject if they have transitioned from a SIA/Finsia/Kaplan course and have completed the following subjects:

      • there are no equivalences for this subject.
  • Prerequisites

    • There are no prerequisites for this subject.

      However, individuals should review the ‘Assumed Knowledge’ tab to understand the prior knowledge Kaplan advises they should hold before enrolling in this subject.

  • Reading list

    • There is no prescribed text for this subject.

      Individuals are provided with key readings and access to Kaplan’s online databases. Individuals are encouraged to research and read widely on the topic.

  • Recognition of Prior Learning (RPL)

    • RPL for the Financial Advice Regulatory and Legal Obligations subject may be awarded if your completed prior studies are listed on the FAS Approved Courses by Institute of Higher Education  list and are deemed equivalent to this subject. RPL may also be awarded based on prior post graduate studies in accordance with the Kaplan Professional Recognition of Prior Learning Policy.

  • Key Dates

    • Next available intake

      Study Period 4, 2023 important dates  
      Enrolments open Now
      KapLearn opens (early access) 5 June 2023
      Early access to assessments 19 June 2023
      Study period commences 3 July 2023
      Assessment dates Click here >
      Enrolments close / Census 19 July 2023
      Study period ends 22 September 2023

      For a full list of annual study period dates, click here >

  • Fees
    • Enrolment fees Fee
      Subject fee 2023 $2,600

      Note: If this subject is undertaken as a standalone subject, no FEE-HELP is available.

      FEE-HELP is available for individuals undertaking this subject as part of a qualification. Click here to find out if you’re eligible.

      Click here for a full list of fees and allowances.