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Postgraduate Diploma in Finance and Law
財務及法律深造文憑

Course Code
FN170A
Application Code
FN170A
Credit
60
Study mode
Full-time
Start Date
To be advised
Next intake(s)
Apr 2026
Duration
12 months to 24 months
Language
English
Course Fee
HK$120,000
Enquiries
28678312
28610278
pgdfl@hkuspace.hku.hk
How to Apply
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The Postgraduate Diploma, commonly referred to as a “研究生文凭” in Mainland China, is a qualification awarded by higher education institutions in former Commonwealth countries or regions (such as the United Kingdom, Canada, Australia, New Zealand, Singapore, Ireland, and Hong Kong SAR). It represents a higher level of study pursued after obtaining a bachelor’s degree.

Generally speaking, Master’s degree programmes emphasise academic scholarship, while Postgraduate Diploma programmes (or “研究生文凭” as commonly known in Mainland China) focus on developing professional application skills. Postgraduate Diplomas carry academic credits, and holders may apply for credit exemptions when enrolling in programmes in other countries or regions (if applicable). However, the extent of credit exemption depends on various factors and is ultimately determined by the university offering the programme.

Postgraduate programmes require students from outside Hong Kong to apply for a study visa before the course starts. For full details, please visit the Study Visa page. For details about the possibility to stay and work in Hong Kong after graduating from a full-time postgraduate programme, please visit the IANG Visa page.

How to Apply

Highlights

The programme aims to equip students with expert knowledge in both finance and corporate laws. It focuses on a balancing inter-play of legal frameworks and financial principles and practices in the changing financial markets. It also prepares students to adopt corporate governance in the increasing challenges of globalised financial markets. 

 

Student Sharing – Graduate of 2024, Postgraduate Diploma in Finance and Law
Recent Anti-money Laundering (AML) Enforcement Actions and Case Study
HKU SPACE 2025 Finance Series Webinar
Speakers:
Mr Kenny Ip (Retired Chief Superintendent of Police)
2025年2月19日

Programme Details

​Programme Intended Learning Outcomes

On completion of the programme, students should be able to
  1. Apply a systematic coherent body of knowledge in finance and corporate law to evaluate financial risks and investments (modules 1-7);
  2. Apply knowledge, skills and practices used in financial services and corporate laws to adopt corporate governance, meet compliance standards and practice corporate social responsibility for the community (modules 1-5, 7-8);
  3. Exercise appropriate judgments in decision making in investments, corporate financing and financial risk management (modules 1-8); and
  4. Evaluate a wide range of numerical and graphical data in financial analysis, investments and corporate risk assessment and management (modules 4-7)

 

Programme Structure

Module Lecture Hours Credits
Law Stream (choose 2 modules)
1 Legal Institutions and Business Law 42 12
2 Legal and Compliance in the Age of Artificial Intelligence (AI) and Big Data 42 12
3 Current Issues in Finance Law 42 12
Finance Stream (choose 3 modules)
4 Introduction to Finance 39 12
5 Corporate Finance 39 12
6 Financial Markets and Regulatory Framework 39 12
7 Investment and Venture Capital 39 12
8 Anti-Money Laundering and Counter-Terrorist Financing Compliance 39 12
Total 201 60
Students have to study two Law modules from modules 1, 2 & 3 and three Finance modules from modules 4, 5, 6, 7 & 8)

 

Assessment method

Continuous Assessment and Examination.

Application Code FN170A -

Modules

Legal Institutions and Business Law
  • Sources of law
    • Definition of Law
    • Civil and Criminal Law
    • Various sources of Hong Kong Law
    • Finding and Citing Sources of Law
    • Importance of various sources of law within the structure of the Hong Kong Legal system
  • Legal System of Hong Kong
    • Courts and Tribunals
    • Personnel, Powers and Jurisdiction
  • Legal reasoning and precedent doctrine
    • Theory of Doctrine of Judicial Precedent
    • Operation of judicial precedent within the hierarchy of the court structure in Hong Kong
    • Binding Precedents
    • Persuasive Precedent
  • Setting up business entities, agency and partnership law
    • Main types of business media/organisation in Hong Kong
    • Agency Law and Partnership Law
    • Other business relationships
    • Risk and Legal factors in setting up business in Hong Kong
  • Fundamentals of Contract Law
    • Elements of Contracts and their Essential features
    • Vitiating factors
    • Breach of contract
    • Remedies
  • Tort of Negligence
    • Tort Law
    • Examples of Torts and the development of negligence in particular
    • General principles of Tort Liability and Vicarious liability
    • Negligence, Duty of care, Breach of Duty and Causation,
    • Statutory Torts, Nuisance
    • Defences - Remedies and Risk Management
  • Law in Capitalization, financing, capital re-construction and liquidation
    • Aspects of Law in Capitalisation, Raising Capital and allotment of shares
    • Company / Corporation Law
    • Duties of Directors
    • Corporate Insolvency and Winding up
    • Liquidation, Winding up by Court, Voluntary Winding Up
Legal and Compliance in the Age of Artificial Intelligence (AI) and Big Data
  • Introduction to AI and Big Data
    • Overview of AI and big data technologies
    • Applications in Hong Kong
    • Legal and compliance implications
  • Regulatory Framework for AI in Hong Kong
    • Laws and regulations governing AI
    • Data protection and privacy laws
    • Intellectual property considerations
    • Global AI regulatory landscape
  • Regulatory Framework for Big Data in Hong Kong
    • Legal landscape for big data
    • Compliance requirements
    • Case studies on regulatory challenges
  • Ethical Considerations in AI and Big Data
    • Ethical implications of AI and big data
    • Bias and fairness in AI algorithms
    • Privacy and data protection ethics
    • Implications for businesses and society in Hong Kong
  • Compliance Challenges in AI Applications
    • Compliance requirements for AI projects
    • Risk management strategies
    • Ensuring transparency and accountability
  • Compliance Challenges in Big Data Applications
    • Compliance considerations for big data projects
    • Data governance and security
    • Compliance monitoring and reporting
  • Data Protection and Privacy Regulations
    • Data protection laws in Hong Kong
    • Compliance with privacy regulations
    • Data governance best practices
    • Cross-border compliance challenges
  • AI Governance and Accountability
    • Governance frameworks for AI
    • Accountability in AI decision-making
    • Ensuring ethical AI practices
    • International standards and best practices
  • Intellectual Property Issues in AI and Big Data
    • IP considerations in AI and big data projects
    • Ownership of AI-generated content
    • IP protection strategies
    • Case studies on sector-specific compliance issues
    • International perspectives on AI regulation
Current Issues in Finance Law
  • Regulatory environments and role of regulators e.g. Australia royal commission, HKMA, MAS)
  • Corporate governance, corporate culture and whistleblowing e.g. Barclays whistleblower, Tipper X)
  • Financial crime, money laundering, fraud, sanctioned countries e.g. China IPOs, 1MDB)
  • The power of information (confidentiality, banking secrecy, personal data (incl EU directive), info security, market manipulation e.g. JP Morgan princelings, LIBOR, rogue traders)
  • Fintech (digital banking, crypto currency, bitcoin etc.)
  • Conflict of interest, suitability, mis-selling, KYC, cross border, AEI, US Person, remuneration of bankers.
  • The role of banks, pawnbroking, shadow banking, crowd funding, shariah financing.
Introduction to Finance
  • Finance and The Finance Systems
    • Introduction to Finance
    • Financial Statement and Cash Flow
  • Financial Analysis
    • Financial Statement Analysis
    • Ratio Analysis
  • Concept of Time Value of Money, Annuity and Perpetuities
    • Future Value and Present Value
    • Compounding and Discounting
    • Annual Percentage Rate and Equivalent Annual Rate
    • Annuity and Perpetuities
  • Interest Rates and Bond Valuation
    • Bond Concepts
    • Bond Valuation
  • Equity Markets and Stock Valuation
    • The Present Value of Common Stocks
    • The Dividend Growth Model
  • Cost of Capital
    • Cost of Debt, Preferred Stock, and Common Equity
    • Weighted Average Cost of Capital
  • Investment Appraisal – Capital Budgeting
    • Net Present Value and Other Investment Rules
    • Sensitivity and Scenario Analysis
  • Risk and Portfolio Management
    • Expected Return, Variance and Covariance
    • The Return and Risk for Portfolios
    • The Efficient Frontier
    • Diversification
    • Relationship between Risk and Expected Return (CAPM)
  • Efficiency of Capital Market
    • Weak, Semi-strong and Strong Forms of Efficiency
    • Anomalies: Bubbles and Market Crashes
Corporate Finance
  • Corporate Finance and Role of Financial Management
    • Core Theories of Corporate Finance
    • Key Questions in Corporate Finance
    • The Objective of the Firm
    • Agency Problems
  • Investment Principles and Capital Budgeting Decisions
    • Investment Principles and Net Present Value
    • Capital Budgeting Techniques
    • Value of Abandonment Option
  • Choice of Capital Structure
    • The Debt-Equity Irrelevance Theorem
    • Corporate and persona Taxes
    • Effects of Bankruptcy Costs
    • Trade-off Theory of Optimal Capital Structure
  • Information Asymmetries and Agency Cost
    • Asymmetric Information Explanations of Capital Structure
    • Minimising the Agency Costs of Equity and Debt
  • Dividend Policy
    • Empirical Evidence on Dividend Policy
    • The Irrelevance of Dividend Policy
    • Tax Implication for Dividend Policy
    • Asymmetric Information, Signalling and Agency Cost
  • Mergers and Acquisitions
    • Forms of Takeover
    • Some Stylised Facts about Merger Activity
    • Motives for Merger
    • Takeover Defense Mechanisms
    • Regulation
    • Target Company Valuation
  • Long-term Financing
    • Issuing Securities to the Public
    • Long-Term Debt
    • Leasing
  • Options, Futures and Corporate Finance
    • Option
    • Future
Financial Markets and Regulatory Framework
  • Types of financial markets
    • money market
    • capital market
    • equity market
    • foreign exchange market
  • Financial institutions/markets in Hong Kong
    • structure
    • role and mechanism
  • Types of financial instruments
    • securities
    • options
    • futures and hedge funds
  • Regulatory framework
    • overview of regulation of Hong Kong financial industry
  • Scope of Securities and Futures Commission Ordinance (SFO)
    • role and function of Securities and Futures Commission (SFC)
    • regulation, licensing, registration and administration functions of SFC
    • Hong Kong Securities Institute (HKSI)
  • Hong Kong Exchange (HKEx)
  • Hong Kong Banking Ordinance and Hong Kong Monetary Authority (HKMA)
    • role of HKMA in supervision of Hong Kong banking institutions
    • international banking standards and Basel capital accords
    • principles of relevant banking laws and the Companies Ordinance
  • Market Misconduct
    • Market Misconduct Tribunal
    • improper trading practices, disclosure standards and compliance
    • social responsibility and ethical issues
  • Future development of the Hong Kong financial markets
Investment and Venture Capital
  • Overview of Alternative Investments
    • Investment Companies
    • Private Equity
  • Private Equity and Venture Capital
    • An Overview of the Venture Capital Market
    • The Organisation of Venture Capital Firms
  • Role of Venture Capitalist and types of Venture Capital
    • How Venture Capitalists Add Value
    • Investment Selection and Venture Capitalist Compensation
    • Venture Capital Contracts with Portfolio Companies
    • Venture Capital Contracts with Investors
  • Business Planning
    • Business Plan of New Ventures
    • Due Diligence
  • Fund Raising
    • Venture Capital Fund Operations
    • How are Venture Partnerships Structured
  • Deal structuring
    • Term Sheets
  • Investing
    • Why are Investments staged
    • An Overview of Valuation techniques
    • Valuation in Practice: The Investor’s Perspective
  • Post Investment Management
    • How do Venture Capitalists Oversee Firm
    • Why do Venture Capitalists Syndicate Investments
  • Exiting
    • Potential Exit Strategies
    • Going Public, Acquisition and Management Buy-out
  • New Frontier
    • Recent Development in Private Equity
    • Recent Development in Venture Capital
  • Other types of Alternative Investments
    • Hedged funds
    • Real estate
    • Mortgage-backed securities
Anti-Money Laundering and Counter-Terrorist Financing Compliance
  • Elements of Anti-Money Laundering compliance
    • Internal policies, procedures and controls
    • Training in compliance
    • Internal audit
    • Compliance culture and senior management’s role
    • Customer Due Diligence implementation
  • Building an effective Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) risk management system
    • Essential elements of an effective risk management system
    • Development of key risk indicators for AML/CTF and sanctions risk monitoring
    • Making use of financial intelligence from internal and external sources
    • Tracking regulatory changes, identifying gaps or vulnerabilities and on-going quality assurance
    • Managing risk across bank groups
  • Suspicious Transaction Monitoring and Reporting
    • Suspicious customer behaviour and identification
    • Suspicious cash transactions, non-cash deposits and wire transfer transactions
    • Suspicious commercial account activity and credit transactions
    • Suspicious investment trade
    • Suspicious activity in currency exchange centres
  • Application of the risk-based approach
    • Formulating a tailored risk-based approach
    • Implementing the risk-based approach
    • Risk identification, assessment and mitigation
    • Internal controls, monitoring and governance
    • Customer due diligence requirements in cross-border context
    • Managing high risk situations and relationships
    • Handling and reporting of suspicious transactions
    • Post-reporting measures
  • Law Enforcement Investigations
    • Decision to prosecute
    • Summonses and subpoenas
    • Search warrants
    • Dealing with investigators and prosecutors
  • Managing stakeholders effectively
    • The balance of risk and responsibility between management, business and compliance
    • Personal liability and institutional liability
    • Sharing of data – inter-bank data sharing, sharing information with regulator

 

Common Enrichment Modules (CEM)

In addition to the credit-bearing modules, students have the unique opportunity to engage in non-credit bearing Common Enrichment Modules (CEM) alongside peers from other Postgraduate Diploma (PgDip) programmes. These CEMs encompass a diverse range of subjects, including leadership development, communication skills, business and academic writing, and applications of artificial intelligence (AI) and ESG. By participating in these modules, students can expand their knowledge and skillsets, gaining valuable learning experiences that will better prepare them for their future careers.

Programme Specific Activities

During the study period, students will have the opportunity to participate in programme-specific activities such as field trips and career talks, all tailored to their individual needs. These activities are designed to foster stronger connections with the industry and provide students with invaluable hands-on experiences in the real business world. This exposure will not only help students set goals that align with their interests and aspirations but also facilitate their future career plans, ensuring they are well-prepared for their professional journeys.

Fee

Application Fee

(Non-refundable)

Course Fee
  • Course Fee : HK$120,000

Entry Requirements

Applicants shall hold a bachelor’s degree awarded by a recognized institution.

If the degree or equivalent qualification is from an institution where the language of teaching and assessment is not English, applicants shall provide evidence of English proficiency, such as:
  1. an overall band of 6.0 or above with no subtests lower than 5.5 in the IELTS; or
  2. a score of 550 or above in the paper-based TOEFL, or a score of 213 or above in the computer-based TOEFL, or a score of 80 or above in the internet-based TOEFL; or
  3. HKALE Use of English at Grade E or above; or
  4. HKDSE Examination English Language at Level 3 or above; or
  5. equivalent qualifications.

Applicants who hold the Advanced Diploma for Legal Executives (Graduate Level) awarded within the HKU system through HKU SPACE would be eligible for entry.

Applicants with relevant professional qualifications or other qualifications will be considered on individual merit.

Apply

Application Form Download Application Form

Enrolment Method
Payment Method
1. Cash, EPS, WeChat Pay Or Alipay

Course fees can be paid by cash, EPS, WeChat Pay or Alipay at any HKU SPACE Enrolment Centres.

2. Cheque Or Bank draft

Course fees can also be paid by crossed cheque or bank draft made payable to “HKU SPACE”. Please specify the programme title(s) for application and applicant’s name. You may either:

  • bring the completed form(s), together with the appropriate course or application fees in the form of a cheque, and any required supporting documents to any of the HKU SPACE enrolment centres;
  • or mail the above documents to any of the HKU SPACE Enrolment Centres, specifying “Course Application” on the envelope. HKU SPACE will not be responsible for any loss of personal information and payment sent by mail.
3. VISA/Mastercard

Applicants may also pay the course fee by VISA or Mastercard, including the “HKU SPACE Mastercard”, at any HKU SPACE enrolment centres. Holders of the HKU SPACE Mastercard can enjoy a 10-month interest-free instalment period for courses with a tuition fee worth a minimum of HK$2,000; however, the course applicant must also be the cardholder himself/herself. For enquiries, please contact our staff at any enrolment centres.

4. Online Payment

Online application / enrolment is offered for most open admission courses (enrolled on first come, first served basis) and selected award-bearing programmes. Application fees and course fees of these programmes/courses can be settled by using "PPS by Internet" (not available via mobile phones), VISA or Mastercard. In addition to the aforesaid online payment channels, new and continuing students of award-bearing programmes with available online service, they may also pay their course fees by Online WeChat Pay, Online Alipay or Faster Payment System (FPS). Please refer to Enrolment Methods - Online Enrolment  for details.

Notes

  • If the programme/course is starting within five working days, application by post is not recommended to avoid any delays. Applicants are advised to enrol in person at HKU SPACE Enrolment Centres and avoid making cheque payment under this circumstance.

  • Fees paid are not refundable except under very exceptional circumstances (e.g. course cancellation due to insufficient enrolment), subject to the School’s discretion. In exceptional cases where a refund is approved, fees paid by cash, EPS, WeChat Pay, Alipay, cheque, FPS or PPS by Internet will be reimbursed by a cheque, and fees paid by credit card will be reimbursed to the credit card account used for payment. 

  • In addition to the published fees, there may be additional costs associated with individual programmes. Please refer to the relevant course brochures or direct any enquiries to the relevant programme team for details.
  • Fees and places on courses cannot be transferrable from one applicant to another. Once accepted onto a course, the student may not change to another course without approval from HKU SPACE. A processing fee of HK$120 will be levied on each approved transfer.
  • HKU SPACE will not be responsible for any loss of payment, receipt, or personal information sent by mail.
  • For payment certification, please submit a completed form, a sufficiently stamped and self-addressed envelope, and a crossed cheque for HK$30 per copy made payable to “HKU SPACE” to any of our enrolment centres.
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