Structured Finance and Securitization (Yarett)
M 4:30PM - 6:20PM
Gittis Hall 214
This course is designed to familiarize the student with the underlying legal concepts necessary to understand contemporary securitization and structured finance transactions. The course will introduce the basic economic elements of securitization and the economic business rational for this type of finance. Today, structured finance and securitization is a major element of the worldwide capital markets practice. The topics covered will include commercial finance, including Article 9 of the Uniform Commercial Code, corporate law, securities and investment company act regulation, bankruptcy law and securitization, tax issues and structuring considerations in securitization transactions, bank regulatory aspects of securitization, and cross-border securitization transactions.
The course will focus on the many types of securitization that exist today and show how different legal disciplines interact in each of the transaction. The course will require some knowledge of introductory corporate and tax law and some exposure to basic bankruptcy law concepts. Introductory Securities Regulations will also be helpful. The course will not require any background in the economics of securitization or related capital markets transactions, although this may be helpful. It is the goal of the course to provide a thorough introduction to this area of practice so that a student has skills to evaluate these types of transactions in a law firm or investment banking firm setting.
Business and Corporate Law Learning outcomes: Demonstrate a core understanding of business and corporate law; Perform legal analysis in the context of business and corporate law; Communicate effectively on topics related to business and corporate law; Demonstrate an understanding of the interconnection between the world of business and finance and that of business and corporate law, and how they affect other areas of law and society.
Tax Law Learning outcomes: Demonstrate a core understanding of tax law and policy; Perform legal analysis in the context of tax law and policy; Communicate effectively on topics related to tax law and policy; Demonstrate an understanding of how tax law and policy affect other areas of law and business.
"Securitization, Structured Finance, and Capital Markets" by Schwarcz, Markell, Broome