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

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

From Study Period 6 2019 onwards, this subject is a Board-approved course in Commercial Law for Tax (Financial) Advisers. This approved status will automatically apply to your enrolment on completion of the subject. For a full list of Kaplan Professional’s TPB Approved Courses For Tax (Financial) Advisers, please click here.

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. Explore the role of intermediaries in financial markets.
      2. Explain the impact of current issues and key economic and financial indicators on the Australian and global financial markets.
      3. Analyse the impact of government and monetary policy on the Australian financial markets.
      4. Examine some of the major issues currently facing the financial planning industry in Australia
      5. Explore the main sources of Law and the regulatory structure of financial services law in Australia.
      6. Explain the various obligations imposed on participants by financial services legislation.
      7. Demonstrate an understanding of codes of practice applicable to the financial planning profession.
      8. Analyse the nature and meaning of contracts, the regulation of the form of contracts and evaluate the impact of legislation upon contract law

      *Subject learning outcomes have been adapted for the FASEA and TPB Commercial Law curriculum. Subject is approved by TPB https://www.tpb.gov.au/economic-and-legal-context-financial-planning-version-2-study-period-6-2019-onwards

  • 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 FASEA’s Financial Advice Regulatory and Legal Obligations subject may be awarded if your completed prior studies are listed on the FASEA 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 6, 2021 important dates  
      Enrolments open Now
      KapLearn opens (early access) 11 October 2021
      Early access to assessments 25 October 2021
      Study period commences 8 November 2021
      Assessment dates Click here >
      Enrolments close / Census 24 November 2021
      Study period ends 28 January 2022

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


  • Fees
    • Enrolment fees Fee
      Subject fee 2021 $2,500

      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.