Institute for Compliance
The Institute for Compliance has created a curriculum for those students interested in compliance. At the heart of this curriculum is Compliance in Financial Institutions, which is taught by Robert Scales, general counsel and chief compliance officer of the Acorn Funds, a $30 billion family of mutual funds. The following courses are being offered for Spring 2018:
MW 6:00-7:25 PM, Prof. White
A study of the Securities Act of 1933 and the Securities Exchange Act of 1934. Among the topics included are: the registration and distribution of securities by issuers; exemptions from the registration requirements; offerings by underwriters and dealings; reorganizations; federal disclosure obligations; regulation of the securities markets, broker-dealers, proxy rules, tender offers, and civil liabilities for insider trading, Rule lOb-5 and shout-swing profits.
Compliance in Financial Institutions
Tu 4:00-5:50 PM, Prof. Dill
This innovative course will explore the crucial role of compliance in financial institutions. It will examine the essential elements of effective compliance programs, the regulatory expectations for investment advisers and investment companies, how to create a culture of compliance, and how to establish adequate monitoring systems. This course is particularly relevant as new laws, rules, and regulations stemming from the financial crisis dramatically affect a wide range of financial institutions. This class is highly recommended for students who are contemplating careers in financial institutions, in regulatory agencies, or in law firms that work with financial institutions. It is also relevant for those who are thinking about careers in compliance outside of the financial industry.
Professional Responsibility: Business Ethics
W 4:00-5:50 PM, Prof. Robbins
This course is designed to introduce students to real-world professional responsibility dilemmas faced by lawyers representing business organizations, engaging in transactional practice or working as in-house counsel or as compliance personnel. From the organization-as-client rule to Upjohn warnings and beyond, ethical issues are more common, relevant and subtle than one might think. Moreover, appropriately resolving professional responsibility questions is crucial to both individual career success and the reputation of the legal profession as a whole. Through a variety of teaching techniques, including simulations, this course will give students the opportunity to explore these issues with their practical ramifications and will seek to arm students with the tools and knowledge to tackle tough ethical questions with confidence. Business Organizations is a prerequisite. This course satisfies the Professional Responsibility graduation requirement.
M 6:00-9:00 PM, Prof. Cue
This course examines (I) how various institutions—bank trust departments, insurance companies, investment advisors and commodity trading advisors—are regulated in their capacity as managers of other peoples' financial investments and (2) how the form in which the investment is made-investment company, commodity pool, partnership or trust-affects that regulation. Common Law principles of "prudence" and fiduciary responsibility are explored and contrasted with specific federal, e.g., ERISA, and state statutory requirements and prohibitions. Specific topics (illustrated by case histories) which are discussed include: disclosure requirements, fee structures, handling of conflicts of interest, training and supervision, oversight and discipline, and permissible investment techniques.
Enforcement & Litigation
Th 6:00-9:00 PM, Prof. Wise
This course provides a comprehensive review of enforcement of the securities and commodities laws and regulations by the SEC, CFTC, Department of Justice, states, and self-regulatory organizations. The course also covers jurisdiction and procedures of the various forums for resolution of securities and commodities disputes, including applicable law, customer litigation, class actions, and international litigation.
M 6:00-9:00 PM, Prof. McCauley/Geir
This course examines the legal and regulatory framework applicable to U.S. banking organizations, which includes bank holding company systems, federally and state-chartered banks and savings and loans. The course will introduce basic statutory and regulatory concepts and explore the goals of these laws and regulations. Topics will include a review of regulatory capital requirements, regulations pertaining to lending activities, issues involving risk management and foreign banking operations in the United States. The impact of recent legislative and regulatory changes with respect to securities and insurance activities of U.S. banking organization will also be examined. A survey of bank regulatory structures for countries in Europe and Asia will also be featured.
To enroll in the Graduate Program, you must be a third year with a GPA of 3.20 or you must have permission from Prof. Perritt.