This course will cover federal regulation of the investment management industry, focusing primarily on the Investment Company Act and the Investment Advisers Act, while also examining the impact of other federal laws, including the Securities Act, the Securities Exchange Act, ERISA, and the Internal Revenue Code. Topics of study include regulation of the operation, management, and distribution of mutual funds and other pooled investment vehicles, including closed-end funds and hedge funds. Class discussion will include analysis of business practices in light of the statutory and regulatory scheme, pertinent case law, and positions taken by the United States Securities and Exchange Commission. Prerequisite: Corporations. 

Upper-level course for:
XIV. Financial Institutions and Regulation
XXVIII. Securities Regulation