Has the world of financial regulation changed in the wake of the panic that began in 2008? The answer is yes and no. The Seventh Edition of this leading casebook tackles this contradiction head-on, dealing clearly and concisely with the extent of the modifications to securities regulation that have occurred or might be expected, as well as identifying the aspects that are likely to stay the same. The philosophy for the presentation of materials continues to be that securities law is tricky, and most students need a straightforward guide through the maze. Coverage of the Securities Act of 1933 and the Securities Exchange Act of 1934 is kept separate, and care is taken to distinguish the different perspectives of the planner and the litigator.