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When you need a quick answer to a securities question, turn to FUNDAMENTALS OF SECURITIES REGULATION. Loss and Seligman have distilled their authoritative 11-volume treatise, SECURITIES REGULATION, into one convenient volume, offering expert analysis of every significant aspect of securities law, including: Primary liability under 10(b), insider trading Sanctions Disclosure requirements Rules and forms for offerings SEC reporting Forward-looking statements Class action suits Bespeaks caution cases ADR in securities disputes and more. To facilitate more detailed analysis, its fourteen chapters parallel the organization of the full treatise, and extensive cross-references show you exactly where to turn.

Tabla de contenidos provista por Syndetics

• Preface(p. xxxv)
• Chapter 1 Background of the Sec Statutes(p. 1)
• A. Of Bubbles and Giants(p. 1)
• B. State Regulation of Securities(p. 9)
• 1. The Uniform Securities Acts(p. 9)
• 2. New York and California(p. 15)
• 3. Selective Federal Preemption: The National Securities Markets Improvement Act of 1996(p. 19)
• 4. Exemptions(p. 23)
• C. The Battle of the Philosophies(p. 25)
• D. A Telescopic Preview of the SEC Statutes(p. 37)
• 1. Introduction(p. 37)
• 2. Securities Act of 1933(p. 38)
• 3. Securities Exchange Act of 1934(p. 38)
• 4. Public Utility Holding Company Act of 1935(p. 39)
• 5. Trust Indenture Act of 1939(p. 39)
• 6. Investment Company Act of 1940(p. 40)
• 7. Investment Advisers Act of 1940(p. 50)
• 8. Securities Investor Protection Act of 1970(p. 51)
• 9. Bankruptcy Reform Act of 1978(p. 52)
• 10. Preservation of State Jurisdiction(p. 52)
• E. The Federal Securities Code(p. 53)
• F. The Securities and Exchange Commission(p. 56)
• 1. The Commission(p. 56)
• 2. The Commission's Staff(p. 58)
• 3. Rules of Conduct for Members and Employees(p. 59)
• Chapter 2 Federal Regulation of the Distribution of Securities(p. 63)
• A. Distribution Techniques(p. 63)
• 1. Strict or "Old Fashioned" Underwriting(p. 63)
• 2. Firm Commitment Underwriting(p. 66)
• 3. Best Efforts Underwriting(p. 74)
• 4. Competitive Bidding(p. 75)
• 5. Shelf Registration(p. 76)
• 6. Securities Underwriting in General(p. 81)
• B. The Basic Prohibitions of [section]5(p. 82)
• 1. The Statutory Pattern(p. 82)
• 2. Section 5 before the 1954 Amendments(p. 87)
• 3. The Jurisdictional Base of [section]5(p. 88)
• 4. The Prefiling Period(p. 91)
• 5. The Waiting Period(p. 98)
• 6. The Posteffective Period(p. 106)
• C. The Registration Procedure: A Study in Administrative Technique(p. 114)
• 1. The Statutory Pattern(p. 114)
• 2. The Preeffective Period(p. 117)
• 3. Posteffective Problems(p. 125)
• 4. Administrative Proceedings against the Registration Statement [[sections]8(b) and 8(d)](p. 133)
• 5. Withdrawal of Registration(p. 134)
• 6. Electronic Filing(p. 136)
• D. Contents of the Registration Statement and Prospectus (Herein of the SEC's Accounting Role)(p. 138)
• 1. Integration of the Disclosure Provisions of the 1933 and 1934 Acts(p. 138)
• 2. Regulation S-K (Nonfinancial Data)(p. 145)
• 3. Financial Statements--The SEC and Accounting (Herein of Regulation S-X)(p. 173)
• E. International Offerings(p. 180)
• 1. Securities Issued by Foreign Governments(p. 180)
• 2. Offerings from a Foreign Country into the United States(p. 181)
• 3. Offerings from the United States into a Foreign Country [Regulation S](p. 190)
• 4. Multijurisdictional Disclosure(p. 199)
• Chapter 3 Coverage of the Securities Act of 1933: Definitions and Exemptions(p. 201)
• A. Definitions(p. 201)
• 1. "Security" [[section]2(a)1](p. 201)
• 2. "Sale" and "Offer" [[section]2(a)(3)](p. 277)
• 3. "Underwriter" [[section]2(a)(11)](p. 285)
• 4. "Dealer" [[section]2(a)(12)](p. 301)
• B. Exempted Securities(p. 302)
• 1. Exempted Securities versus Exempted Transactions(p. 302)
• 2. Securities of Public Authorities and Banks [[section]3(a)(2)](p. 307)
• 3. Short Term Notes [[section]3(a)(3)](p. 316)
• 4. Receivers' and Trustees' Certificates [[section]3(a)(7)](p. 319)
• 5. Insurance Policies and Annuities [[section]3(a)(8)](p. 319)
• C. Exempted Transactions(p. 320)
• 1. Integration(p. 320)
• 2. Voluntary Exchanges [[section]3(a)(9)](p. 325)
• 3. Judicially or Administratively Approved Exchanges(p. 333)
• 4. Intrastate Issues(p. 337)
• 5. "Small" Issues(p. 346)
• 6. Limited Offerings(p. 354)
• 7. Trading Exemptions(p. 371)
• D. Resales of Control and Restricted Securities(p. 378)
• 1. Resales after Private Offerings(p. 378)
• 2. Rule 144(p. 387)
• 3. Rule 144A(p. 391)
• 4. Nonissuer Transactions under the State Blue Sky Laws(p. 396)
• 5. The Resale Problem in Other Contexts under the 1933 Act(p. 403)
• Chapter 4 Protective Committee Reform: The Trust Indenture Act of 1939 and Sec Functions under the Bankruptcy Code(p. 407)
• A. The Trust Indenture Act(p. 408)
• B. The SEC's Functions in Bankruptcy Proceedings(p. 411)
• 1. Introduction(p. 411)
• 2. The Commission's Present Role under Chapter 11(p. 412)
• Chapter 5 "Control" Concepts Under the Sec Statutes(p. 419)
• A. The Statutory Contexts(p. 419)
• B. Determinants of "Control"(p. 424)
• Chapter 6 Registration and Postregistration Provisions of the 1934 Act(p. 435)
• A. Registration(p. 436)
• 1. Exchange-Listed Securities(p. 436)
• 2. Over-the-Counter Securities(p. 439)
• 3. Definitions(p. 450)
• 4. Exemptions(p. 454)
• 5. Nonstatutory Requirements of the Exchanges and the NASD(p. 462)
• B. Reporting Requirements(p. 471)
• 1. In Connection with Exchange Act Registration(p. 471)
• 2. In Connection with Securities Act Registration(p. 475)
• 3. Administrative Proceedings(p. 477)
• 4. Suspension of Trading(p. 483)
• C. Proxies(p. 488)
• 1. The Problem (Herein of Costs of Solicitation)(p. 488)
• 2. The Statutory Provisions and General Proxy Rules(p. 493)
• 3. The Proxy Statement and Form of Proxy(p. 499)
• 4. Contested Solicitations and Security Holder Proposals(p. 507)
• 5. False or Misleading Statements [Rule 14a-9](p. 534)
• 6. Securities Held in "Street Name" or "Nominee Name" [[section]14(b)](p. 551)
• 7. "Information Statements" When Proxies Are Not Solicited [[section]14(c)](p. 555)
• 8. Enforcement of the Proxy Rules and Status of Action Taken by Means of Illegally Solicited Proxies(p. 556)
• D. Tender Offers(p. 562)
• 1. The Phenomenon(p. 562)
• 2. The Williams Act and Other Federal Securities Laws(p. 572)
• 3. State Legislation(p. 612)
• 4. State Corporate Law(p. 624)
• E. Insider Trading(p. 631)
• 1. Introduction(p. 631)
• 2. Reports of Transactions [[section]16(a)](p. 632)
• 3. Section 16(b): From the "Objective" to the "Subjective"(p. 633)
• 4. "Profit Realized"(p. 648)
• 5. Measurement of the Six Month Period(p. 651)
• 6. Change of Status(p. 651)
• 7. Definitions(p. 653)
• 8. Exemptions(p. 671)
• 9. Prohibition of Short Selling [[section]16(c)](p. 673)
• Chapter 7 Regulation of the Securities Markets(p. 677)
• A. Structure of the Securities Markets(p. 677)
• 1. Introduction(p. 677)
• 2. The Stock Markets(p. 688)
• 3. The Over-the-Counter Market(p. 700)
• 4. Options Markets(p. 709)
• 5. Stock Index Futures Markets(p. 711)
• 6. Derivatives Generally(p. 713)
• B. Securities Exchanges(p. 715)
• 1. Registration of Exchanges(p. 715)
• 2. Exchange Rules and Organization(p. 723)
• 3. Exchange Discipline(p. 726)
• 4. Unlisted Trading(p. 732)
• C. Securities Associations(p. 734)
• 1. Government versus Self-Regulation(p. 734)
• 2. The National Association of Securities Dealers(p. 735)
• 3. Exemption from the Antitrust Laws(p. 737)
• 4. NASD Discipline(p. 739)
• D. Brokerage Commission Rate Regulation(p. 740)
• 1. Antitrust Generally(p. 740)
• 2. Commission Rate Regulation(p. 745)
• E. Clearance and Settlement(p. 749)
• Chapter 8 Regulation of Brokers, Dealers, and Investment Advisers(p. 753)
• A. Broker-Dealer Registration(p. 753)
• 1. The Registration Requirement(p. 753)
• 2. Definitions of "Broker" and "Dealer" [[sections]3(a)(4), 3(a)(5)](p. 755)
• 3. Exemptions(p. 763)
• 4. Qualifications and Discipline(p. 767)
• 5. Municipal Securities Dealers(p. 777)
• 6. Government Securities Dealers(p. 779)
• B. Broker-Dealer Substantive Regulation(p. 784)
• 1. Protection of Customers' Funds and Securities(p. 784)
• 2. Inspections(p. 792)
• 3. Short Sales(p. 794)
• 4. Credit Regulation(p. 800)
• 5. Securities Investor Protection Corporation (SIPC)(p. 814)
• C. Investment Advisers(p. 815)
• 1. Registration(p. 815)
• 2. Definition of "Investment Adviser"(p. 818)
• 3. Exemptions(p. 829)
• 4. Substantive Provisions(p. 831)
• Chapter 9 Fraud(p. 837)
• A. Common Law and SEC "Fraud"(p. 837)
• 1. The Weapons in the Federal Antifraud Arsenal(p. 837)
• 2. The Relation between SEC "Fraud" Concepts and Common Law Deceit(p. 846)
• B. Issuers and "Insiders"(p. 855)
• 1. Proscription of Trading while in Possession of Material Nonpublic Information(p. 856)
• 2. Insider Purchases at Common Law(p. 865)
• 3. Introduction to Rule 10b-5(p. 875)
• 4. The Fraud Element(p. 878)
• 5. The Duty Element(p. 900)
• 6. Scienter(p. 949)
• 7. Scope of Rule 10b-5(p. 962)
• 8. Rule 14e-3(p. 978)
• 9. Special "Insider Trading" Sanctions(p. 982)
• C. Brokers and Dealers(p. 988)
• 1. Unreasonable Spreads(p. 989)
• 2. Broker-Dealer Fiduciary Duties(p. 1003)
• 3. Duty to Investigate and the Suitability Doctrine(p. 1010)
• 4. Churning(p. 1023)
• 5. Fraud in Margin Transactions [Rule 10b-16](p. 1027)
• 6. All or None and Similar Offerings [Rules 10b-9, 15c2-4](p. 1028)
• D. Fraud by Investment Advisers(p. 1030)
• E. Use of the Mails or Interstate Facilities(p. 1038)
• Chapter 10 Manipulation(p. 1045)
• A. A Classic Portrait of Market Manipulation(p. 1045)
• B. Manipulation before the SEC(p. 1046)
• C. Manipulation of the Securities Exchanges under the SEC Statutes(p. 1051)
• D. Manipulation of the Over-the-Counter Market under the SEC Statutes(p. 1060)
• E. Stabilization(p. 1063)
• 1. Background(p. 1063)
• 2. Activities by Distribution Participants [Rule 101](p. 1066)
• 3. Activities by Issuers and Selling Security Holders [Rule 102](p. 1076)
• 4. NASDAQ Passive Marketmaking [Rule 103](p. 1081)
• 5. Stabilizing and Other Syndicate Activities [Rule 104](p. 1084)
• 6. Short Sales in Connection with an Offering [Rule 105](p. 1091)
• 7. Issuer Repurchase Safe Harbor [Rule 10b-18](p. 1093)
• F. Resale Price Maintenance(p. 1097)
• 1. Fixed Price Offerings(p. 1097)
• 2. Investment Company Act(p. 1102)
• Chapter 11 Civil Liability(p. 1105)
• A. Common Law and Equity(p. 1106)
• 1. Breach of Warranty(p. 1106)
• 2. Rescission(p. 1107)
• 3. Deceit(p. 1108)
• 4. Measure of Damages(p. 1109)
• B. Blue Sky Laws and the Securities Litigation Uniform Standard Act of 1998(p. 1111)
• C. SEC Statutes(p. 1117)
• 1. Introduction(p. 1117)
• 2. Securities Act of 1933(p. 1118)
• 3. Securities Exchange Act of 1934: Express Liabilities(p. 1162)
• 4. Securities Exchange Act of 1934: Implied Liabilities(p. 1169)
• 5. Investment Company Act of 1940(p. 1229)
• 6. Investment Advisers Act of 1940(p. 1233)
• D. General Provisions(p. 1233)
• 1. Secondary Liability(p. 1233)
• 2. Defenses(p. 1261)
• 3. Arbitration and Nonwaiver Provisions(p. 1292)
• 4. Class Actions(p. 1304)
• 5. Survivability and Assignability of Actions(p. 1320)
• 6. Ancillary Relief(p. 1322)
• 7. Indemnification, Contribution, and Insurance(p. 1324)
• 8. Attorneys' Fees and Security for Costs(p. 1331)
• 9. Right to Trial by Jury(p. 1337)
• Chapter 12 Government Litigation(p. 1341)
• A. Injunction(p. 1341)
• B. Criminal Prosecution(p. 1347)
• 1. The SEC Penal Provisions(p. 1347)
• 2. "Willfully" and "Knowingly"(p. 1348)
• 3. Relevant Provisions of the Criminal Code(p. 1350)
• 4. Procedure(p. 1351)
• 5. Parallel Proceedings(p. 1351)
• C. Judicial Review of SEC Orders(p. 1353)
• D. Res Judicata and Collateral Estoppel(p. 1363)
• E. The Commission as Amicus Curiae(p. 1373)
• Chapter 13 SEC Administrative Law(p. 1375)
• A. Securities Lawyers(p. 1375)
• 1. Requirements for Practicing(p. 1375)
• 2. The Securities Lawyer in General(p. 1376)
• 3. Disciplinary Proceedings(p. 1385)
• B. Investigation(p. 1392)
• 1. The Statutory Provisions and the Commission's Procedures(p. 1392)
• 2. The Subpoena Power(p. 1401)
• C. Quasijudicial Proceedings(p. 1407)
• D. Statutory Remedies(p. 1419)
• 1. Civil Fines(p. 1420)
• 2. Cease and Desist Orders(p. 1422)
• 3. Corporate Bar Orders(p. 1423)
• E. Rulemaking(p. 1425)
• F. Confidential Treatment(p. 1431)
• 1. Freedom of Information Act(p. 1431)
• 2. Federal Privacy Acts(p. 1438)
• 3. SEC Rules and Procedures(p. 1443)
• Chapter 14 Conflict of Laws, Procedural Aspects, and "Globalization"(p. 1447)
• A. Jurisdiction and Venue(p. 1447)
• 1. Subject Matter Jurisdiction(p. 1447)
• 2. Pendent Jurisdiction(p. 1449)
• 3. Civil Venue(p. 1453)
• 4. Civil Process(p. 1457)
• 5. Criminal Actions(p. 1458)
• B. Interstate Choice of Law(p. 1459)
• C. International Aspects(p. 1464)
• 1. Choice of Law(p. 1464)
• 2. International Agreements and Their Enforcement(p. 1477)
• 3. Enforceability of SEC Liabilities in Foreign Courts(p. 1480)
• Table of No-Action and Interpretative Letters(p. 1485)
• Index(p. 1545)