The Future of Securities Regulation

The U.S. system of security law was designed more than 70 years ago to regain investors’ trust after a major financial crisis. Today we face a similar problem. But while in the 1930s the prevailing perception was that investors had been defrauded by offerings of dubious quality securities, in the new millennium, investors’ perception is that they have been defrauded by managers who are not accountable to anyone. For this reason, I propose a series of reforms that center around corporate governance, while shifting the focus from the protection of unsophisticated investors in the purchasing of new securities issues to the investment in mutual funds, pension funds, and other forms of asset management.


Issue Date:
2009
Publication Type:
Working or Discussion Paper
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/50356
PURL Identifier:
http://purl.umn.edu/50356
Total Pages:
50
JEL Codes:
G2; G28; G01
Series Statement:
IM
7.2009




 Record created 2017-04-01, last modified 2020-10-28

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