Regulation and Regulators – Four-day intensive brings law to life
LAW5484 Regulation and Regulators offers a rare opportunity to learn how law intersects with public policy from someone who has lived it. Taught by Joanna Bird, a seasoned regulator and legal academic, this four-day intensive unit explores the theory and practice of regulation in a way that is both intellectually rigorous and grounded in real-world experience.
"I think of myself as a professional regulator," Bird said.
"I’ve had a career that has largely involved moving between academia and actually working as a regulator."
Bird’s career spans two decades at the Australian Securities and Investments Commission (ASIC), where she served as Executive Director of Financial Services and Wealth, and current roles on the Tax Practitioners Board and as a financial services regulation consultant.
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Discover the Public Purpose Behind Legal Practice
LAW5484 is designed for professionals and students alike who want to understand how regulation shapes industries, protects consumers, and drives public policy outcomes.
“ Regulatory law actually requires a slightly different way of thinking. I think when you're at law school and you're doing subjects like torts and contracts, you're taught this legal way of thinking and it's a coherent system, but actually regulatory law really requires public policy thinking," Bird explained.
The unit is structured across four key themes:
- what is regulation and why do we do it;
- how do we regulate and how do we assess regulation;
- what do regulators actually do and how are they made accountable; and
- the international dimension of regulation.
Learn Regulatory Law from experience, not just theory
Bird brings a unique blend of academic insight and frontline experience to the classroom.
"I developed this course while teaching at Sydney University," she said.
"It was originally called Regulatory Theory and Practice until someone told me students never enrol in a course with the word ‘theory’ in it!"
Her teaching is enriched by stories from her time at ASIC, including leading a team that transformed the financial advice sector and contributed to major law reform.
“ I lead the financial advice team in a job share arrangement with someone else. And so it was a real personal achievement for the two of us to have a senior role where we managed to do it on a job share basis.”
"We increased enforcement results by over 700% in the first years," she recalled.
"We changed the face of the financial advice industry and led to a lot of law reform."
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Regulation and Regulators is a course for every legal career
Whether you work in private practice, in-house, or within a regulatory body, LAW5484 Regulation and Regulators offers insights that are relevant across sectors.
"It’s hard to imagine a form of legal practice that doesn’t involve some encounter with regulatory law," Bird said.
" Whether you're working in a law firm or in-house, especially if you're working in-house, it's highly likely that whoever you work for will be subject to regulatory law."
The unit also challenges students to think critically about the accountability of regulators themselves.
"We plow public money into these organisations and want to know if they’re doing a good job," she said.
"But the techniques we have to assess them are terrible. It’s really hard to hard to measure what's a good outcome and measure what's a good job."
Space for dialogue and discovery in Regulatory Law
Bird’s teaching style encourages discussion and reflection, drawing on the diverse experiences of participants.
"One of my favourite moments was when a general counsel at a major bank realised the regulator was just another person with their own concerns and legal and political limitations," she said.
"It gave him a whole new perspective on how the system works."
For professionals, this unit offers a chance to step back from day-to-day practice and engage with the broader questions that shape regulatory law.
" If you work in private practice and you advise regulated entities or companies, or work in-house for one, you’ll get a lot out of this course," Bird said.
Sign up for LAW5484 as a Short Course
Understanding the structure and scope of Regulatory Law
The course is taught as a four-day intensive in August and is structured into four clear sections.
"We look at what regulation is and why we do it," Bird explained.
"Then we look at how we do it, what instruments are used, and the different regulatory techniques such as licensing or disclosure."
"We also look at a framework for assessing regulation - how can you tell if it’s good and achieving its public policy goals?"
"Then we look at regulators themselves - what they actually do, how they’re made accountable, and how they’re governed."
"Finally, we look at the international dimension - how we regulate international activityand the influence of international standards on domestic regulation."
Why Regulatory Law matters
Bird emphasises the growing importance of regulation in everyday life and legal practice.
"Regulation has a really significant impact on your life," she said. "It’s an increasing part of our lives, and governments are playing a bigger role in controlling conduct to achieve good public policies."
"It’s probably the law that students will encounter most in practice, but it’s quite different from the law they spend a lot of time studying."
"Understanding regulation requires public policy thinking, not just legal thinking," she added.
Enrol in LAW5484 Regulation and regulators now
LAW5484 will be taught as a four-day intensive in August 2025. It’s open to Monash Law students and legal professionals seeking to enrol in a single unit for professional development.
"If you’re interested in public policy, politics, and law—this has got it all," Bird said.