Securities Regulation (1027): This course provides an overview of the regulation of securities offerings and trading under the Securities Act of 1933 and the Securities Exchange Act of 1934. The course explores the elaborate disclosure obligations that this country imposes on the distribution and trading of investment securities as well as the role of the Securities Exchange Commission and private plaintiffs in shaping and enforcing these disclosure obligations. Topics to be covered include: public offerings of securities and the registration process under the Securities Act of 1933, exemptions from these registration requirements and the role of exemptions in the financing of private and public firms, and the disclosure obligations of publicly-traded issuers. The course will also examine the role of anti-fraud rules in the issuance and trading of securities as well as liability for insider trading. Elements used in grading: Attendance, Class Participation, Final Exam.

Securities Regulation: Capital Formation from Start-Up to IPO and Beyond (1027): We examine the legal regime governing securities markets the United States through the lens of the Silicon Valley venture capital process. We study regulations governing venture capital investing, multi-billion-dollar private placements, initial public offerings (IPO's), and the governance of publicly traded firms, including exposures for securities fraud litigation. The course also explores emerging regulatory tensions over US investments in Chinese issuers, proposals to share equity with "gig-economy" workers, and proposals to facilitate small investor access to private placements. There is extensive reliance on recent real-world transactions, litigation, legislation, and rulemaking. Students are expected to participate in panels. Elements used in grading: Final exam and panel participation.