This lesson introduces the federal and state securities laws regulating business finance. The lesson is designed for students taking Business Associations or Corporations, so the coverage is fairly basic; this lesson is not intended to be used by Securities Regulation students.
The lesson is modular. The core of the lesson focuses on federal securities law restrictions on the public offering of securities—the federal registration and prospectus delivery requirements and the accompanying restrictions on communications and sales activities. In addition to this core material, the lesson contains additional, optional sections dealing with the definition of "security," exemptions from the federal requirements, the anti-fraud provisions of federal securities law, and state securities law.
These additional modules are designed so they may be assigned or completed as needed. They are independent of all but the core material in the lesson.