This course surveys the regulation of all financial institutions, i.e., banks, insurance companies, securities firms, and mutual funds. The course will examine the history and development of regulation of each of these institutions and the markets in which they operate. Because commercial banks are the most regulated financial institutions, careful attention is devoted to the bank regulatory scheme, including chartering, branching, interstate banking, activities restrictions, and the regulation of troubled banks. Examination of insurance companies will include analysis of the insurance contract and federal/state relationship in insurance regulation. The securities industry will be examined through the regulation of broker-dealers and trading markets. The focus on the investment company industry will include consideration of fiduciary duties and required disclosure. Most important the course will examine the deterioration of historic barriers between financial institutions and the services that they provide. The course will give careful consideration to this cross-industry competition and how it has and will impact law and policy. May not enroll in Banking Law.

Req. PP: This course requires a qualifying portfolio paper that fulfills a portion of the upper-level writing requirement. Refer to Academic Rule X — Writing Requirement and Directed Research.

Upper-level course for:

I. Administrative and Legislative Law
XIV. Financial Institutions and Regulation 
XXVIII. Securities Regulation