I’m planning to work in Funds for a big law firm post-grad. Should I take Securities Regulation in my last year of law school?

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I’m in Funds and Sec Reg was my favorite class. I think it’s helpful from a big picture, conceptual standpoint but I don’t use it much in my day-to-day, personally. It was more focused on public companies.

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Just take the classes with the best professors at your school during 3L. A bad sec reg professor can make the class pretty painful.

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No

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Good to know, but not critical to private funds. What would you take instead?

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Both are good choices. One is more practical, the other more substantive.

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Clearly going against the grain here but as a Funds attorney, my answer is YES. It’s an easy enough class and going to be more applicable than probably anything else offered. Also consider reading Private Capital by Eli Tamor. You can buy it on Amazon. Pretty good overview of what you’ll be getting into.

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If you have any sort of “Deals” class or transactional boot camp, I would take that instead for sure. Or negotiations class. federal income tax was helpful to me just as a way to think about tax.

Sec reg was not particularly helpful or memorable

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I can’t speak to how useful it will be in your practice, but I loved that class.

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Can’t hurt.

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You guys will send CapM 1933 and 1934 act work so you don't need it, unless a firm doesn't have a strong securities practice but if it doesn't have that then it probably doesn't have a strong funds practice either.

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If you can take a class that teaches you the Company Act and the Advisers Act (like, actually focuses on those two; not briefly mentions them for half of one class during the semester, which is what you usually get from basic sec reg), do that. If not, it doesn’t really do much for the funds practice.

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What class would you all recommend for investment funds then?

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If they had a class that examined NFL rules and how they are interpreted that would be my recommendation

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Unless it interests you. I took it and it didn’t really make a difference. Learned everything on the job.

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