Securities law is the area of law that deals with the regulation of securities markets, securities transactions, and securities products. Securities include stocks, bonds, options, and other financial instruments that are traded on securities markets.
In Australia, securities law is primarily governed by the Corporations Act 2001 (Cth) which is the federal legislation that applies throughout Australia. The Act provides a framework for the regulation of securities markets, securities transactions, and securities products, including the registration, supervision, and enforcement of securities market participants and the regulation of securities offerings and trading.
The Australian Securities and Investments Commission (ASIC) is responsible for enforcing the Act and other laws related to securities markets and securities transactions, as well as protecting consumers, investors, and promoting fair, efficient, and transparent securities markets.
The Act includes provisions that regulate issues such as the registration of companies and other entities that issue securities, the rights and obligations of companies and other entities that issue securities, the rights and obligations of securities market participants such as stockbrokers, the regulation of securities offerings, and the regulation of securities trading.
It's important to note that in addition to the Corporations Act, securities markets and transactions in Australia are also subject to other laws such as the Australian Securities and Investments Commission Act 2001, the Australian Securities and Investments Commission (ASIC) regulations, the Australian Prudential Regulation Authority (APRA) regulation, and the Australian Stock Exchange (ASX) Listing Rules.