The market turmoil of the past several years and public debate over its causes have highlighted inequities in the regulation of financial products. The regulation of products issued by banks, mutual fund complexes, insurance companies and others differ for historic reasons embedded in the Investment Company Act of 1940, other federal and state securities laws, federal and state banking laws, state insurance laws and the potential overlay of ERISA. This course takes a close look at the "unlevel" playing field in the regulation of financial products and considers the impact of the Dodd-Frank Act and continuing Congressional and regulatory proposals for structural solutions to market issues.
This class presents the developmental history of financial product regulation as a predicate for making judgments related to current regulatory debates. It addresses how to approach interstitial legal analysis in the regulation of financial products, analyze complex legal principles and clearly articulate and support a legal conclusion orally and in writing. It provides a forum for debating differing points of view and for reaching legal conclusions by balancing different policy factors.