Today's investment markets can be daunting for anyone, but especially for those in the early stages of financial careers. The Fundamentals of the Securities Industry removes the guesswork, providing a broad-ranging introduction to how the securities industry works and how its components interact. Concepts presented in the book build upon each other, helping readers gain a fuller understanding of each element and financial instrument that is vital to the securities industry.

In the Fifth Edition, new examples are drawn from news stories such as the Bernie Madoff Ponzi scheme and the subprime mortgage crisis. This revision also addresses financial reform legislation and recent Supreme Court rulings concerning the statute of limitations, the liability of secondary actors, and jurisdiction over foreign fraud.

Securities Regulation: Examples & Explanations features:

• basic coverage of the full range of securities regulation topics
• examples drawn from current events, such as public offerings by Google, the roles of lawyers and accountants in Enron, and fraud litigation involving mortgage-backed derivatives
• the proven-effective Examples & Explanations series pedagogy

Updated throughout, the Fifth Edition provides:

• recent Supreme Court cases
• Merck & Co. v. Reynolds, on statute of limitations
• Stoneridge v. Scientific-Atlanta, on liability of secondary actors
• Morrison v. National Australia Bank, on jurisdiction over foreign fraud
• an overview of new securities reforms
• credit rating agency regulation and liability
• pay clawbacks after financial restatements
• regulation of hedge funds and private equity funds
• expanded ESEC enforcement powers
• additional charts and diagrams that summarize the Dodd-Frank law, 10b-5 procedures, and foreign jurisdiction cases
• new and updated examples and explanations based on the Madoff scheme, fraud in selling mortgage-backed securities, and liability for inaccurate credit ratings