LAW-2913 Investment Management Regulation
Over $25 trillion dollars in assets in the U.S. economy are managed by professional investment managers. This course examines how investment managers and different types of investment vehicles (such as mutual funds and hedge funds) are regulated. The course gives primary emphasis to applicable federal securities law requirements principally found in the Investment Company Act of 1940 and the Investment Advisers Act of 1940. The principal legal topics covered include: the definitions of "investment adviser" and "investment company", prohibitions and regulations relating to conflicts of interest, disclosure obligations of investment companies, and the governance of such entities. Although primarily legal in nature, the course provides an introduction to business and financial considerations relating to the investment management industry over the first several classes. Internship placements. In addition, two or three students enrolled in this course will be eligible for placement in designated internships intended to complement the subject matter of this course. The designated internships will be for a minimum of 3 credits and enrollment in Investment Management Regulation will satisfy the classroom requirement for the internship. The Law School's Business Law and Financial Services Concentration has worked closely with three providers in investment management industry. Securities Regulation is recommended, especially for students who have no prior experience with the investment industry or lack an undergraduate business background. Grading is based on a final exam. A paper option is available in lieu of the take-home portion of the final. In class exercises are collected but not graded.