BGP-264M: Capital Market Regulation

Semester: Spr Mod3

Credit: 0.5

Faculty: Robert Glauber

Schedule

Day Time Location
First Day 1/25
Meet Day W 4:10 PM - 6:00 PM L140
Review
no class 1/27.First class 1/29, 2:30-4:30 in L130.Thereafter on reg. sched Wed 4:10-6:00

Description

Examination of overall structure of the capital markets, e.g. retail vs. institutional and public vs. private, plus key regulatory issues in the equity and securitized debt components of the market.  For equity markets, looks at competitiveness of the public equity market compared with private and foreign market alternatives, focusing on specific issues: (1) regulatory process, mainly regarding SEC; (2) class action suits as a private enforcement mechanism; (3) private equity as alternative to public equity; (4) corporate takeovers and market for corporate control; (5) “excesses” in executive compensation.  For securitized debt markets, looks at what problems have been revealed by the subprime debt crisis, focusing on specific issues: (1) how to achieve more transparency of securities and pools of securities; (2) changes in the regulation and role of rating agencies; (3) mortgage borrower relief and consumer protection; (4) capital requirements for financial institutions holding securitized debt.  Concludes with examination of proposed reforms of overall regulatory structure.  Agenda subject to revision to reflect market and political developments.