Securities attorneys have three responsibilities: staying informed of new laws, working with clients, and acting as a resource. They work for corporate clients and may also work for government agencies. To become a securities attorney, one must complete law school and have a solid understanding of business accounting and finance practices. Securities law is complex, and attorneys in this field must stay current on changes and developments. They interact with clients, resolve conflicts, and provide guidance on company policy. They also play an important role as an expert resource in most firms.
A securities attorney has three areas of responsibility: staying informed of new laws and legal decisions relating to securities, working with clients, and acting as a resource. As a securities attorney, my primary focus is working for corporate clients. Every large company that trades its stock on the securities market usually has a lawyer or securities firm on its holding power. In addition to this role, securities attorneys may work for government agencies in enforcement or liaison.
To become a securities attorney, you must successfully complete law school. In North America, this is essentially an undergraduate degree, as all applicants must complete at least two years of a bachelor’s degree to apply. Candidates interested in securities are recommended to complete a bachelor’s degree in accounting, finance or business. This is a very complex field, and a solid understanding of business accounting and finance practices is required to be successful.
People who enjoy complex puzzles, are voracious readers, and like to grapple with complexity find the greatest amount of success in this role. Securities law is extremely complex, and lawyers drawn to this field are often detail-oriented. Enforcement or litigation positions are very challenging due to the complexity of the issues as well as the skill and creativity of the corporate law firm.
Securities attorneys must stay current on all changes and developments in securities law. In the wake of several major financial scandals in the late 1990s and the financial meltdown of 2008, many courts took a closer look at securities issues and made a series of precedent-setting decisions. While some of these can be reversed over time, it is an excellent example of how quickly laws in this area can change.
Interacting with the client is an important part of a securities attorney’s role. He or she is typically involved in resolving conflicts, providing guidance on company policy, protecting the company during an audit, and dealing with litigation. In this role, conflict resolution and effective communication are critical.
In most firms, the securities attorney plays an important role as an expert resource. In determining new company policy or procedures, senior management executives may need to obtain a legal opinion from a securities attorney before making a decision. Accuracy and clear communication of benefits and risks are essential. The ability to work well with a wide variety of people, solve problems quickly, and share information and experience with the team are important skills.
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