2012 CAPITAL MARKETS: DEVELOPMENT AND REGULATION

 

 

DATES: OCT 15 - 26, 2012    
TUITION: $4450    
     

 

 

 

 

Overview

This course highlights the major issues and procedures relating to the development and regulation of capital and securities markets in developing economies. Participants will discuss the major building blocks of an effective capital market and the policy environment needed to help its development. The course also includes issues related to the growing interaction of emerging markets with developed capital markets.

 

Course Outline

Legal, Regulatory and Institutional Framework

  • Institutional structure related to market's needs
  • Government regulation: securities laws, securities exchange commissions, central banks, ministries of finance
  • Stock exchanges: rules and regulations, self or external regulation, membership and listing standards
  • Corporate governance
  • Transparency
  • Prospectuses

 

Development of Capital Markets

  • Policy issues affecting development of capital markets
  • Managing risks and responding to crises in Capital Markets
  • Capital markets and housing finance

 

Role of Participants in Capital Markets

  • Regulators, financial institutions, accountants/auditors, government
  • Issuers of securities in capital markets
  • Investors in capital markets: individuals and institutional players
  • Professionals: brokers, dealers, underwriters
  • Financial intermediaries: commercial banks, merchant banks, mutual funds, hedge funds, insurance companies, pension funds
  • Initial public offerings (IPOs)

 

Typical Field Trips (selection based on availability)

  • New York Stock Exchange; Nasdaq; U.S. Securities and Exchange Commission, U.S. Federal Reserve Bank in New York; a ratings agency, such as Standard and Poors; The Depository Trust and Clearing Corporation

 

Course Advisor

Paul Freedman is Counsel at the AES Corporation, a global energy company. Mr. Freedman was previously Chief Counsel for Credit Programs at the U.S. Agency for International Development (USAID) and has substantial government and private sector experience in capital markets transactions in developed countries and emerging markets. He has worked on the first non-sovereign bond offerings in several developing countries, and he has played a leading role in the structuring and negotiation of USAID's partial credit guarantees for bond offerings and bank loans in over 40 developing countries.

 

  

Sample of Selected Faculty

Ester Saverson

  • Assistant Director
    Office of International Affairs
    U.S. Securities and Exchange Commission

Howard Howe

  • Federal Reserve Bank

Roberto Toso

  • Director, Financial Services Chemonics International Inc.

Edward Roche

  • Senior Credit Analyst, Office of Development Credit
  •  U.S. Agency for International Development

 Carolyn Campbell

  • Managing Director and General Counsel
  •  EMP Africa Management LP

William W. Uchimoto

  • Corporate, Finance and Capital Markets, China Practice, Chair
  • Stevens & Lee