International Securities Regulation

B666 is taught by W. Hicks

This three-credit hour offering is concerned with the effect that law and policy have on global financing by non-governmental, for-profit businesses and on global trading of securities that these business entities create and sell. The course begins with an introduction to financial markets and globalization, U.S. capital markets, international capital markets and theories of securities regulation. After providing students with a sense of the capital markets and the major participants in those markets, the course then explores the impact of U.S. securities law on domestic and foreign companies (including mutual funds), and their shareholders. The course examines the impact of U.S. securities regulation on broker-dealers, investment advisers and other intermediaries in the capital markets. It concludes with a study of statutory and administrative protections for investors, in connection with domestic and foreign transactions that violate registration, disclosure and anti-fraud provisions of U.S. law.

There are no prerequisites. Students are not expected to be familiar with finance, international business transactions, domestic or foreign securities markets or practices, or any aspects of securities law. Lectures and detailed course materials will discuss these and other preliminary topics. Course materials include sample disclosure documents, problems and judicial opinions. The subject matter of this course is not duplicated and, therefore, students who enroll in this course are eligible to enroll in other law school courses involving federal securities law.

Students will be permitted to bring their course materials, class notes and non-commercial outlines into the final examination.

Useful but not essential for the general practice of law.