Securities Regulation: Law and Policy

Securities Regulation: Law and Policy

Commissioner Kara Stein
Fall 2019 seminar
W 1:00pm - 3:00pm in WCC Room 5052
2 classroom credits

Prerequisites: None

Exam Type: No Exam

As a result of technology and global competition, capital markets have been changing at a breathtaking pace. In this course, we will examine whether and how securities law is keeping up with these changes, and what forces may affect securities regulation in the future.

This course will be broken up into four modules of three weeks each. Our first module will focus on the conditions that originally led to federal regulation of our securities markets. We will then pivot to the the 2008 financial crisis and the resulting legislation -- the Dodd-Frank Wall Street Reform and Consumer Protection Act.

In the second module, we will focus on changes in our capital formation methods, such as Regulation A+, crowdfunding and crowdsourcing, initial coin offerings, and blockchain technology.

The third module will focus on key issues concerning the relationships between corporations and their shareholders. In addition to focusing on corporate governance issues, we will explore how technology may be changing expectations and interactions between investors and companies.

Finally, the fourth module will examine the changing regulatory paradigm in financial markets. Focusing on self-regulatory organizations such as FINRA and the Congressionally created Public Company Accounting Oversight Board (PCAOB), this module will study the role these organizations perform in the marketplace -- and overlapping regulatory oversight by the federal government.

The course will have a practical focus with an emphasis on case studies that illustrate the intersection of securities law and policy, and the difficult choices securities regulators face in each of these areas.

Subject Areas: Regulatory Law, Business Organization, Commercial Law, and Finance