Curriculum Guide · Courses
Regulation of OTC Derivatives
LL.M 2019 (cross-listed) | 2 credit hours
This course examines the role of OTC derivatives, particularly options and swaps, in financial markets and how such derivatives have been regulated before and after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The course will survey the history of derivatives regulation in the financial markets, primarily focusing on areas under SEC jurisdiction. It will explore the role of derivatives in the 2008 financial crisis and consider the regulation of swaps under Dodd-Frank. Specifically, this course will discuss regulation of the mechanisms by which derivatives are traded, the legal definitions of various derivative products, regulatory and policy goals and concerns, the existence of differing legal standards for derivatives regulation, how these differences affect the legal landscape for private firms and their lawyers, and whether these differences are justifiable. Students will prepare a seminar paper relating to one of the topics of the course.
Prerequisite: Corporations; Securities Regulation. Familiarity with principles of economics is recommended.