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Subject overview


100% online




1 Jul 2024


12 weeks



This subject focuses on the legal system in New Zealand as it relates to the market. It provides an overview of the functions of key regulatory bodies, including the New Zealand Exchange Limited (NZX). The subject also discusses how companies raise capital, then establish and run a business. It also outlines the protection available to investors in the NZX. Individuals apply their knowledge via case studies and realistic scenarios.

Subject information

Learning outcomes

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

  • Explain the regulatory framework of the securities industry in New Zealand.
  • Identify and apply various common law, rules, legislation and financial market rules applicable to market
  • Explain how companies differ from other business structures and identify the duties/rights of directors
    and shareholders.
  • Discuss the rights and obligations of the NZX firm/client relationship.
  • Discuss the regulation of derivatives.

Topics covered

  1. Fundamental objectives of NZX and stockmarket regulation
  2. Bodies that regulate the stockmarket
  3. Listing and quotation of securities on NZX
  4. Continuing obligations of listed issuers under the Listing Rules
  5. Takeovers
  6. Business structures
  7. Effect of common law on Market Participants
  8. Relationship between Client Advising Participants and clients
  9. Statutory law protection of investors
  10. Market Participants and NZX Advisers
  11. Trading conduct
  12. Derivatives regulation

Reading list

There is no prescribed text for this subject.

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

Reading list


Assessment TypeAssessedWeighting
TaskWeek 420%
AssignmentWeek 740%
ExamWeek 12 40%

Previous study requirements

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 Professional course and have completed the following subjects:

  • there are no equivalences for this subject.

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