What Do Securities Attorneys Do?
Securities attorneys deal with the stock, bonds and debentures issued by corporations and governments to evidence ownership and terms of payment of dividends or final pay-off. These are called securities because the assets and/or the profits of the corporation or the credit of the government stand as security for payment. However, unlike secured transactions in which specific property is pledged (like a mortgage or car), securities are only as good as the future profitability of the corporation or the management of the governmental agency. Securities attorneys need to be familliar with both federal and state laws because they both regulate securities. Federal securities laws are generally administrated by the Security and Exchange Commission (SEC) which was established by the Securities Exchange Act of 1934. The other two main federal laws are the Investment Company Act of 1940 (“Investment Company Act”), and the Investment Advisers Act of 1940 (“Advisers Act”). In addition to the fede
