| CODE | CML5033 | ||||||||||||
| TITLE | Securities Regulation | ||||||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||||||
| MQF LEVEL | 7 | ||||||||||||
| ECTS CREDITS | 5 | ||||||||||||
| DEPARTMENT | Commercial Law | ||||||||||||
| DESCRIPTION | This study-unit examines the framework for securities regulation under Maltese law principally, the Investment 福利在线免费 Act, 1994, The Financial Markets Act, the Prevention of Market Abuse Act, the Regulations enacted thereunder, the Rules for Investment 福利在线免费 Providers and Related Guidance Notes, the Rules for Recognised Persons and Retail Collective Investment Schemes and The Listing Rules. The study-unit also covers the applicable EU harmonizing measures, principally the MIFID and UCITS Directives, the Transparency Directive and the Prospectus Directive and the relevant implementing measures. The provisions of the Companies Act, 1995 relevant to capital issues by public companies and the Prospectus Directive are also considered. Aspects covered during the course include the principal objectives and excesses of regulation, the Competent Authority, the scope of regulation, relevant instruments and services, the licensing regime for investment services and collective investment schemes as well as the advertising regime. Investor protection issues will be addressed together with the obligations of license holders and the powers and functions of the Competent Authority, including judicial review and the remedies available to aggrieved parties before the Financial 福利在线免费 Tribunal. The study-unit will focus on the status and roles of the key players involved in regulated markets. Particular attention will be given to the public offering of securities by public companies, the listing process, listing requirements, methods of bringing securities to admissibility as well as other pre and post listing issues such as continuing listing obligations and corporate governance. The study-unit aims to be as topical as possible and content may change in the light of current developments. Learning Outcomes: The objective of this study-unit is to provide students with an in-depth understanding of the scope and legal underpinnings of the regulation of securities markets its wider context including the civil, administrative and other laws which permeate the regulatory framework and the relevant international dimension particularly the EU鈥檚 Financial 福利在线免费 Action Plan. The study-unit is designed to bring both the regulatory and practitioner perspectives to bear on the subject matter, with insights into workings of the capital market including the iter of the market offering and listing process. A visit to the Malta Stock Exchange and presentations on real capital market issues will help students to experience first hand practical applications of theoretical considerations. Reading List: A full list of literature and reading materials will be made available during the course. Students are also referred to the following primary materials: - Guide to Financial 福利在线免费 Regulation, Third ed., B. Rider, C. Abrams and M. Ashe; - The Financial 福利在线免费 and Markets Act: A Practical Legal Guide, J. Perry; - Introduction to Collective Investment Schemes, January 1996, Vol. I and II 鈥� Materials produced by the Financial 福利在线免费 Law Section of the Chamber of Advocates; - Encyclopaedia of Financial 福利在线免费 Law, E. Lomnicka and J. Powell. - Company Law and Corporate Finance, Ferran Ellis, Oxford University Press. - International Loans, Bond and Securities Regulation, Wood Philip, Sweet and Maxwell - Market Abuse and Insider Dealing, Rider, Alexander & Linklater, Butterworths. - Listing Rules Published by the Listing Authority www.mfsa.com.mt |
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| STUDY-UNIT TYPE | Lecture | ||||||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Nicholas Curmi Tiziana Filletti Joseph Ghio Joseph Saliba Ilona Schembri (Co-ord.) |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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