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The Securities Law of Public Finance (Third Edition)

Author(s): Robert A. Fippinger
Practice Area: Municipal bonds, Municipal finance, Municipal law, Municipal securities, Securities and other financial products
Published: Sep 2011
Supplement Date: Nov 2020 i Other versions can be found in the Related Items tab.
ISBN: 9781402416422
PLI Item #: 32777

Written by one of the most respected figures in the field, author and practitioner Robert A. Fippinger, The Securities Law of Public Finance covers every vital area, from finance structuring to securities distribution to the many regulatory changes made in response to the economic downturn. It takes you through each aspect of the regulatory framework controlling the issuance and trading of municipal securities, with special attention to disclosure and fraud issues, including the sovereign immunity defense.

Cited by the SEC for its excellence in illuminating legal issues, The Securities Law of Public Finance clarifies and analyzes the law to give you the smart, steady guidance you need to comply more confidently with registration, disclosure, due diligence, fiduciary, and contractual requirements—and avoid costly legal actions. Included are primary sources, flowcharts, and summary charts that help speed compliance with the rules. Understand:

  • The differences in the regulatory requirements between public finance and corporate finance
  • What are “exempt transactions” and “separate securities”
  • The many kinds of entities that may issue municipal securities
  • The timeline and regulatory requirements for new issue distributions in public finance
  • Asset-backed municipal securities and the use of derivative products
  • Public finance disclosure hot topics and due diligence procedures
  • The regulation of municipal securities broker-dealers, municipal advisors, and investment advisors
  • The structure of the municipal securities marketplace
  • SEC enforcement activity
  • Fraud concepts and sovereign immunity issues in the public securities arena
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Robert A. Fippinger served as Chief Legal Officer to the Municipal Securities Rulemaking Board from March 2015 through July 2017. He is also a former partner in the New York office of the law firm of Orrick, Herrington & Sutcliffe and has specialized in the law of public finance since 1970. After receiving his undergraduate degree from Duke University and his law degree from the University of Michigan Law School, Mr. Fippinger received a Ph.D. in 1969 at Northwestern University in its law and politics program. Mr. Fippinger was an adjunct professor at New York University law school where he taught the securities law of public finance, and he has taught the securities law of public finance at Hofstra Law School. He was a visiting lecturer in law at Yale University law school where he taught the law of public finance for a four-year period.