Securities Regulation

This course is an introduction to the statutes administered by the Securities and Exchange Commission and the rules the SEC promulgates under them. They regulate companies whose securities are sold into and traded in securities markets and financial institutions that market and trade those securities. The course introduces students to (1) the impact of the securities statutes on the governance and financing of a public company and (2) the major financial intermediaries that make up the securities industry. It also provides a case study in the techniques and culture of the modern administrative state through close scrutiny of the SEC's policies and procedures. The course will help prepare students to work on standard securities transactions or to be an effective member of a litigation team representing a party in securities litigation, both substantial practice areas in law firms.