A study of the different types of issuers that offer securities to public, including corporations, governments, and other organizations.
Securities Law: The basic concepts, regulations, and legal framework that govern the issuance of securities by companies to the public.
Types of Securities: Describing the various types of securities that companies can issue such as stocks, bonds, debentures, options, and more.
Public Offering: The process of making securities available to the public for purchase, including the registration process, prospectus requirements, and SEC rules.
Private Placement: The process of offering securities to a group of accredited investors without having to register with the SEC.
Securities Act of 1933: The primary federal law governing the issuance of securities in the US, covering registration requirements, disclosure, and antifraud provisions.
Securities and Exchange Commission (SEC): The government agency responsible for enforcing securities laws, regulating securities markets, and protecting investors.
Regulation D: The SEC rules defining the conditions under which a private placement of securities can be made, without having to register with the SEC.
Blue Sky Laws: The state-level securities regulations enacted to protect investors, often varying by state and requiring registration, or exemption from registration, of securities.
Prospectus: The document that summarizes a company's key information and financial statements, included with the sale of a security, to help investors make informed decisions.
Insider Trading: The illegal practice of trading securities based on material, non-public information, or giving such information to others who trade on it.
Securities Fraud: The intentional deception, misrepresentation, or omission of material facts concerning securities to investors, to induce them to buy or sell securities.
Securities Litigation: The process of resolving disputes and seeking compensation in cases of securities law violations or instances of fraud.
Investment Banks: The financial institutions responsible for underwriting new securities issues and initial public offerings (IPOs).
Rating Agencies: The organizations that assign credit ratings to securities based on their creditworthiness and likelihood of repayment.
Securities Market Structure: The arrangement of markets, exchanges, and electronic trading systems that enable the buying and selling of securities.
Corporate Governance: The system of rules, practices, and processes by which a company is directed and controlled, and shareholders are protected.
International Securities Regulation: Understanding the different securities laws and regulations in different countries and how they impact global securities markets.
Corporations: Most common type of issuer, organized under state law and owned by shareholders. They issue stocks and bonds to raise capital.
Government Entities: Issue securities to finance public projects, infrastructure, and other government operations. Includes federal, state, and local governments.
Supranational Organizations: International institutions that issue securities to finance development projects in member countries. Examples include the World Bank and the International Monetary Fund.
Non-profit Organizations: Issue securities to raise funds for charitable or educational purposes. Examples include universities and hospitals.
Trusts: Created to hold assets and issue securities backed by those assets. Examples include real estate investment trusts (REITs) and unit investment trusts (UITs).
Partnerships: Issue securities to raise capital for business ventures. Examples include limited partnerships (LPs) and master limited partnerships (MLPs).
Cooperatives: Issue securities to raise funds from members to finance the cooperative's operations. Examples include agricultural and consumer cooperatives.
Special Purpose Vehicles: Created for a specific purpose or to isolate assets from other operations. Examples include asset-backed securities (ABS) and collateralized debt obligations (CDOs).
Insurance Companies: Issue securities to raise capital and manage risk. Examples include life insurance and property/casualty insurance companies.
Municipalities: Issue securities to finance local projects, such as schools and roads. Includes cities, towns, and counties.