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Recent developments in the US capital markets

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  • Mary L. Schapiro

Abstract

[eng] The US capital markets are in the process of undergoing significant structural changes. Regulation NMS will more tightly interweave the national market system ; the recently announced transactions by The Nasdaq Stock Market, Inc. and the New York Stock Exchange portend greater consolidation of trading markets in the United States ; NASD’s facility for reporting transactions in the corporate debt market raises issues concerning greater transparency and best execution in that market ; and the Securities and Exchange Commission’s recent proposals on self-regulation will potentially change the governance process of self-regulatory organizations (SROs), require more on-going accountability in the discharge of an SRO’s regulatory responsibilities, and raise issues concerning the proper roles of commercial markets and regulation. This paper seeks to present an overview of these recent events. . JEL classification : G18, G28

Suggested Citation

  • Mary L. Schapiro, 2006. "Recent developments in the US capital markets," Revue d'Économie Financière, Programme National Persée, vol. 82(1), pages 27-37.
    • Handle: RePEc:prs:recofi:ecofi_1767-4603_2006_num_82_1_4432
    DOI: 10.3406/ecofi.2006.4432
    Note: DOI:10.3406/ecofi.2006.4432
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    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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