Securities Regulation (Course Page)

This guide is meant to help you find laws and information on securities regulation.  It is not a comprehensive guide to all of the information you will need in your research, but it should get you started.  Here you will find:

• Laws and regulations governing banks and securities

• Agencies and advocate group websites (including IOSCO)

• Dodd-Frank research tools, and Financial Crisis Inquiry Commission reports

• Practice and study aids 

• Practical and scholarly articles

STATUTES

• Laws that Govern the Securities Industry
• Securities Act of 1933
• Securities Exchange Act of 1934
• Trust Indenture Act of 1939
• Investment Company Act of 1940
• Investment Advisers Act of 1940
• Sarbanes-Oxley Act of 2002
• Dodd-Frank Wall Street Reform & Consumer Protection Act

The official codified version of federal securities laws appears in the U.S. Code in Title 15, sections 77 through 80.  Note:  Most practitioners use the section numbers of the Acts (instead of citations to the Code).

REGULATIONS

• Code of Federal Regulations

An official version of the SEC rules can be found in Title 17 of the Code of Federal Regulations: Commodity and Security Exchanges.

• 1933 Act rules are found in 17 C.F.R. § 230.___ under its rule number
• 1934 Act rules can be found in 17 C.F.R. § 240.____ under its rule number

Example: 1933 Act Rule 144 is 17 C.F.R. § 230.144, and 1934 Act Rule 10b–5 is 17 C.F.R. § 240.10b–5

CASE LAW

• Federal Securities Cases (Lexis access)
• Federal Securities Cases (Westlaw access)

CONGRESSIONAL COMMITTEES

• U.S. Senate Committee:  Finance

• U.S. House Committee:  Financial Services

RESEARCHING ARTICLES

Google and Google Scholar are great; however, there are also other databases, including:

• Journals & Law Reviews (Westlaw access)
  Contains documents from law reviews

• Business Source Complete
  Multi-disciplinary database with over 300 legal and law-related periodicals

PRACTICE & STUDY AIDS

• Lexis Securities Mosaic

• BNA Securities Regulation

• The Law of Securities (Hazen) (Westlaw access)

• International Capital Markets & Securities Regulation (Westlaw access)

• Commodity Futures Trading Commission (CFTC)

• Financial Stability Oversight Council (FSOC)
• Consumer Financial Protection Bureau (CFPB)
• Federal Housing Finance Agency
• Center for Responsible Lending
• Federal Housing Administration

DEPOSITORY INSTITUTIONS

• Comptroller of the Currency
• Federal Deposit Insurance Corporation (FDIC)
• Federal Reserve System
• National Credit Union Administration
• American Council of State Savings Supervisor
• Conference of State Bank Supervisors
• Federal Financial Institutions Examination Council
• National Association of State Credit Union Supervisors
• American Bankers Association

• National Association of Insurance Commissioners

• National Conference of Insurance Guaranty Funds
• National Organization of Life & Health Insurance Guaranty Associations
• State Insurance Department Web-sites (from the National Association of Insurance Commissioners website)

INTERNATIONAL ORGANIZATIONS

• Bank for International Settlements (BIS)

• Institute of International Bankers
• International Monetary Fund (IMF)
• International Organization of Securities Commissions (IOSCO)
• Institute of International Banking Law & Practice (IIBLP)
• Organisation for Economic Co-operation & Development (OECD iLibrary)

• IRS's Tax Information for Retirement Plans
• Department of Labor's Employee Benefits Security Administration (EBSA)
• Pension Benefit Guaranty Corporation (PBGC)
• Employee Benefit Research Institute

• New York Stock Exchange (NYSE)
• Securities and Exchange Commission (SEC)
• Financial Industry Regulatory Authority (FINRA)
• Investment Company Institute
• North American Securities Administrators Association
• Securities Investor Protection Corporation

• Internal Revenue Service (IRS)

Financial Crisis Inquiry Commission (FCIC)

• FCIC Hearings
• FCIC Final Report

Agencies 

Nearly 80% of the rulemaking provisions of Dodd-Frank assign responsibilities to four agencies:  the Securities and Exchange Commission (SEC), the Board of Governors of the Federal Reserve System (FRB), the Commodity Futures Trading Commission (CFTC), and the Consumer Financial Protection Bureau (CFPB).  Dodd-Frank also created within the US Treasury, the Financial Stability Oversight Council (FSOC).

• CFTC Dodd-Frank
• SEC Dodd-Frank
• FRB Banking Regulation
• FSOC in Treasury

Government Reports

• Government Accounting Office - Dodd-Frank Reports 
• Congressional Research Services Reports on Dodd-Frank (search "dodd-frank")

Practitioner Services  

• Dodd-Frank Rulemaking Tracker 
• BNA Banking Report

Legislative History

• Congress.gov S. 451 and H.R. 4173
• Heinonline Compiled Legislative History (HUID & PIN)

Book

Dodd-Frank Wall Street Reform and Consumer Protection Act: Law, Explanation and Analysis (2010)

• Book Online in CCH - requires registration with HLS email
• Book in print on Reserve in the library at the Circulation Desk

Recommended for an overview of the law, with explanations on particular legislation and potential regulation.

Journal

• Harvard Business Law Review (HBLR) issue discussing Dodd-Frank at one-year

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