Securities law is a specialized version of business law. Lawyers at a securities law firm have to deal with the buying and selling of stocks, bonds and other investments.
Securities lawyers are required to go through the same steps that all other lawyers pass through. First, they must obtain their bachelor’s degree and take the LSAT, which stands for Law School Admission Test before they can even start law school. It is not necessary for pre law students to have a specific major but taking a public speaking class or English, government philosophy or economics courses are highly beneficial. Basically, whatever course will strengthen the student’s ability to read, write, speak, analyze, research and think logically are recommended. Accounting, finance and business are always a good idea also.
Once the bachelor’s degree is earned, the student will then begin their three years of law school. The first year and a half will be all about property law, constitutional law, contracts, legal writing and civil procedure. Once this is complete, the rest of the time can be spent on the area wherever the student wishes to specialize. At this point, someone wanting to be a securities lawyer would take courses involving business law, tax, law, securities law, administrative law and corporations. If the student wishes to gain more practical experience then they should participate in mock trials or even obtain a part clerkship.
After earning their Juris Doctor (J.D.) degree, which happens at the end of law school, the new lawyers are required to pass the written bar examination before they can even start to practice law. Once this is passed, they are free to begin their career.
There are three main branches of corporate and securities law. Those branches are regulatory work, transactional work and litigation.
Regulatory work involves working with issues that involve the Securities and Exchange Commission, the National Association of Securities Dealers, the New York Stock Exchange and other laws that have to do with the protection of investor’s interests.
Transactional work has to do with the legal issues such as mergers and acquisitions, initial public offerings (IPOs) and mutual funds.
Litigation is more about handling civil and criminal lawsuits and enforcement actions. Securities law firms can represent the companies themselves or the investors.
According to the U.S. Bureau of Labor Statistics, all lawyers are expected to receive a 10% increase in job growth over the next decade. They also stated the the average salary of a lawyer was $131,990 when tallied in 2013. However, those working for a securities law firm are expected to make something more in the range of $188,430.
The best kind of people to go after a securities law career are those who enjoy complex puzzles, are avid readers, and find great pleasure in figuring out complex situations. Securities laws are one of the most complex areas and the kinds of lawyers who are attracted to this field need to be quite detail oriented. Positions in either enforcement or litigation can tend to be very challenging because of the complexity and demands of the issues, as well as the skill and creativity of the corporate law firm.
