247.1 sec. 1 - Regulation of Capital Markets and Financial Institutions (Spring 2014)
Instructor: Prasad Krishnamurthy (view instructor's teaching evaluations | profile)
Instructor: Mark Perlow (view instructor's teaching evaluations | profile)
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Meeting Time: W 6:25-7:15 & Th 6:25-8:05
Meeting Location: 134/134
Course Start: January 08, 2014
Course Control Number (Non-1Ls): 49718
This course will address the institutional and regulatory framework of the US capital markets and the role that financial institutions, particularly investment banks and investment funds, perform in these markets. The course will start with an overview of the functions and regulation of banks, exchanges, over-the-counter markets, broker-dealers, institutional investors, and mutual and hedge funds. We will study in particular the recent crisis, including the rise and fall of securitization, failures in investment banks and the government-sponsored enterprises, credit derivatives, money market funds and hedge funds. We will study the division of regulatory responsibilities after Gramm-Leach-Bliley repealed Glass-Steagall and how these responsibilities correspond, or do not correspond, with the various financial functions that GLB intended to regulate. We will examine a range of actual and proposed regulatory responses to the crisis, including the Dodd Frank Act, the actions of the banking, securities and futures regulators and other legislative proposals and actions of Congress and the Treasury.
This course is intended to provide students with an overview of the US financial system. It does not cover the same material or the same details as specific courses in corporate, securities or banking law.
This course may satisfy the Writing Requirement.
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Instructor has indicated that no books will be assigned.