The Need for Competition in International Securities Regulation
AbstractThis paper advocates opening up international securities regulation to greater regulatory competition than the scant competition that exists at present. After sketching the contours of an international regime of regulatory competition in securities laws and the reasons why such competition is desirable, the paper provides a detailed response to objections that have been raised to a proposal for a competitive securities regime that was principally focused on the United States, objections that would accordingly also be raised against this paper's proposal. These include whether the U.S. securities regime is directed at mitigating problems regarding disclosure of interfirm externalities and whether international competition will result in a regulatory race to the lowest level of disclosure. Because the analysis in support of regulatory competition in securities law draws upon the learn
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Bibliographic InfoPaper provided by Yale School of Management in its series Yale School of Management Working Papers with number ysm214.
Date of creation: 01 Aug 2001
Date of revision: 01 Sep 2001
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