ELE 3772 Securities Law
The course gives an introduction to the basic legal rules for activities in the securities markets in Norway. In recent years both the trade in financial instruments, the conclusion of transactions and the carrying out investment services operations have been regulated in increasingly greater detail by laws and regulations. Examples of rules of this type are for instance the rules on insider trading and market manipulation, rules related to flagging, rules related to mandatory bids and rules related to prospectuses. These are rules that market players such as investors, issuers of financial instruments, securities firms or as advisers to any of these groups need to be familiar with. Besides, for securities firms, comprehensive rules related to concession duties, rules related to capital adequacy requirements, organizational requirements and requirements related to the execution of the business activity (good business practice) are crucial for understanding the securities markets. The course is intended to provide the students with the necessary knowledge and interpretation of the most important rules for the securities market.
After completed course students should have:
Acquired in-depth knowledge and a closer understanding of the basic legal rules of stock exchange and securities law.
After completed course students should be able to:
- Account for the central legal rules and obligations of the stock exchange and securities law for investors, issuers and securities firms.
- Recount and analyse interpretation issues raised by the most important rules of law in this field.
- Identify and assess central problems related to these regulations.
- Solve basic practical problems with given facts by identifying problems, specifying the relevant legal rule, applying the rule to the given facts and drawing a conclusion in relation to this.
The students are to acquaint themselves with and develop an awareness of the behavioural norms that are expected from players in the securities markets beyond the explicit laws and regulations, including requirements related to good business practice and corporate governance.
After completed course students shall:
- Be aware of and have gained awareness of the behavioral norms expected by players in the securities markets beyond the explicit laws and regulations, including good business practice.
- Acquire an understanding of the grounds for the rules of law and their design.
- Definitions and concepts
- A survey of the capital markets and their regulation
II. THE RULES OF MARKET BEHAVIOUR
- General on the trade in financial instruments in the capital markets
- Duties of disclosure
- Insider trading
- Market manipulation
- Good business practice
III. COMPANY TRANSACTIONS
- Share issues and investments, including the rules relating to prospectuses
- Acquisitions and mergers
- Other equity transactions
IV. SECURITIES FIRMS
- Overview of investment services
- Requirements related to concessions
- Rules related to business activities
- Organizational requirements
The course consists of 45 hours with lectures and plenary assignments.
For electives re-sit is normally offered at the next scheduled course. If an elective is discontinued or is not initiated in the semester it is offered, re-sit will be offered in the electives ordinary semester.
The course FIN 3502 Securities Law was lectured last time spring 2015 for the Bachelor Programme in Finance 2nd year.
Last re-sit exams with code FIN 3502 are offered autumn 2015 and spring 2016. Students who after that point is missing exam FIN 3502 Verdipapirett can take the exam in this course instead.
Higher Education Entrance Qualification
No particular prerequisite knowledge is required.
|Exam category||Weight||Invigilation||Duration||Support materials||Grouping||Comment exam|
Form of assessment:
Internal and external examiner
Examination when next scheduled course
|Form of assessment:||Written submission|
|Support materials:|| |
|Resit:||Examination when next scheduled course|
Feedback activities and counselling
Prepare for teaching
Group work / Assignments
Student's own work with learning resources
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.