LAWS3192/JURD7392 Takeovers and Capital Markets Law

Lecturer: Emma Armson

What is the course about?

Takeovers and Capital Markets Law builds upon the corporate law topics covered in Business Associations. The course focuses on the regulation of securities markets, in particular dealing with continuous disclosure, fundraising, market integrity and takeovers.

Why does the subject interest you?

I enjoy this subject because it presents legal and policy challenges in a practical context. My research focuses on takeover law and policy, and I find the process of weighing up the different policy objectives sought to be achieved particularly interesting. The continuous disclosure provisions raise difficult practical issues relating to when information should be made available to the market. Insider trading and market manipulation also involve interesting policy questions (you’d be surprised!).

Do you have any advice for students who are interested in the course?

It helps to have enthusiasm and an interest in corporate law, and to keep on top of the reading for the course.

How will this course be relevant in the future?

Corporate law can be relevant in a number of different contexts in addition to legal practice, including investment banking, accountancy, journalism and government work. Before becoming an academic, I worked in the corporate law field in a law firm, in legal publishing, as an in-house counsel in a bank subsidiary and for the government in reforming the law.

Student: Angela Su

Please give us a brief overview of the main topics studied in the course
The main topics included takeovers, continuous disclosure, market misconduct, and fundraising. These topics built upon BA1, with an emphasis on public-listed companies and securities regulation.

What were the course assessments and your thoughts about them?

There was a case note that focused on the legal and policy implications of a recent decision. There was also a final take-home (problem question) and class participation.

What did you like about the course?
The course was well-structured, the lecturer was engaging and the classes were interactive due to group exercises and discussion of recent examples. The readings included a range of supplementary materials (e.g. journal articles, ASIC guidance, bid documents, and prospectuses), as well as extracts from the legislation and case law.

Do you have any other thoughts or comments?
Takeovers and Capital Markets Law was a great course for gaining an introduction to some of the practical and policy issues facing listed companies.