LS553M: EQUITY FINANCE LAW (2020-2021)

Last modified: 05 Aug 2021 13:04

Course Overview

This is a compulsory law course for the LLM/MSc in Corporate Finance. It will explore issues within the law of equity finance, mainly focused on the laws of the UK but also with references to different legal systems. It will provide students with a wider and deeper understanding of various equity finance issues that are crucial to the law of corporate finance.

Course Details

Study Type	Postgraduate	Level	5
Term	Second Term	Credit Points	15 credits (7.5 ECTS credits)
Campus	Aberdeen	Sustained Study	No
Co-ordinators	Dr Alisdair Macpherson

What courses & programmes must have been taken before this course?

Either Master Of Science In Corporate Finance And Law or Master Of Laws In Corporate Finance And Law
LS503N Introduction to Corporate Finance Law (Studied)
Any Postgraduate Programme

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

None.

Are there a limited number of places available?

Course Description

This course will cover a number of topics of particular relevance to the law of equity finance. The content of the course will include the following:

Share capital: this will involve consideration of what share capital is and how it may be utilised for the purpose of raising finance for a company. It will also include examination of various different types of share available and the rights that may be attached to shares.
Issues in the ownership of companies: there will be exploration of certain issues involving the ownership of companies. This will include consideration of transparency matters regarding company owners, the nature and role of trusts in the ownership structure of companies and the extent to which restrictions are, and should be, placed upon the ownership and control of companies.
Stock markets and IPOs: there will be consideration of the concept of stock markets and what purpose they serve. There will be a focus on how public companies raise finance on the stock markets, with particular reference to initial public offerings of shares. In addition, attention will be paid to liabilities that may arise for misleading statements in the context of an IPO.
Mergers and takeovers: attention will be paid to legal issues arising in the context of one company merging with or acquiring another company. There will be discussion of why these situations may arise, the ways in which they can be given effect to legally and relevant regulatory matters.
Insider dealing and securities fraud: this will include discussion of what insider dealing is, the historical position regarding the regulation of insider dealing and what constitutes an offence under the current law. There will also be consideration of the wider notion of securities fraud, especially market abuse.

Contact Teaching Time

Information on contact teaching time is available from the course guide.

Teaching Breakdown

More Information about Week Numbers

Details, including assessments, may be subject to change until 30 August 2024 for 1st term courses and 20 December 2024 for 2nd term courses.

Summative Assessments

1500 word essay 25%

48 hours written exam 75%

Resit: resubmission of failed elements

Formative Assessment

There are no assessments for this course.

Course Learning Outcomes

Knowledge Level	Thinking Skill	Outcome
Conceptual	Understand	To obtain knowledge and understanding of various aspects of equity finance law, with reference to the UK and beyond.
Procedural	Evaluate	To determine the most appropriate legal approaches or solutions within the context of equity finance scenarios.
Procedural	Create	To develop and enhance key legal and transferable skills, including argumentation, communication, critical analysis and problem solving.