A securities lawyer’s responsibilities include staying up to date on new securities laws and legal rulings, working with clients, and serving as a resource. Working for corporate clients is the primary focus of a securities lawyer. Every large corporation that trades its stock on the stock exchange has a securities lawyer or firm on retainer. Securities lawyers can also work for government agencies in the enforcement or litigation departments.
To work as a securities lawyer, you must first graduate from law school. Because all applicants must have completed at least two years of a bachelor’s degree to apply in North America, this is essentially a graduate degree. A bachelor’s degree in accounting, finance, or business is recommended for candidates interested in securities. This is a very complicated field, and success requires a thorough understanding of business accounting and financial practices.
People who enjoy solving complex puzzles, reading voraciously, and grappling with complexity are the most successful in this role. Securities laws are extremely complicated, and the lawyers who are drawn to this field are typically meticulous. Because of the complexity of the issues, as well as the skill and creativity of the corporate law firm, positions in enforcement or litigation are extremely difficult.
Securities attorneys must keep up with all changes and developments in the securities laws. Following several major financial scandals in the late 1990s and the financial collapse of 2008, many courts examined securities issues more closely and issued a series of precedent-setting decisions. While some of these may be overturned in the future, they serve as a good example of how quickly laws in this area can change.
Interacting with clients is a crucial part of a securities lawyer’s job. He or she is usually in charge of resolving conflicts, providing policy guidance, protecting the company during audits, and dealing with litigation. Conflict resolution and effective communication are critical in this role.
In most businesses, the securities lawyer serves as a valuable expert resource. Before making a decision on a new policy or company procedure, senior management executives may need to seek legal advice from a securities lawyer. The importance of accuracy and clear communication of benefits and risks cannot be overstated. Important skills include the ability to work well with a diverse group of people, solve problems quickly, and share information and experience with colleagues.