International Securities Laws

These laws concern the regulation of cross-border capital raising transactions. Issues considered include the offering of securities to investors outside an issuer’s home country, the disclosures required of an issuer whose shares are held by investors outside its home country, the extra-territorial reach of nationally based anti-fraud regimes, tender offers across national lines, the differences in the regulation of insider trading and market manipulation, and broker-dealer activities involving transnational transactions. There is a special focus on the impact of emerging technologies and their impact on capital raising and secondary market trading, including high frequency trading and robotic investment advice. The primary substantive law focus will be on U.S., federal and state, and E.U. regulation, but one must understand the theoretical framework that will help analyze transnational transaction regulation by the legal systems of other countries and international bodies as well.