This Report was prepared, with support by the World Bank, for the Russian Center for Capital Market Development and the Russian Federal Service on the...
In consequence of the three ECJ cases in Centros (1999), Überseering (2002), and Inspire Art (2003), EU member states can no longer effectively apply...
In an earlier companion essay, Regulating in the Dark, I contended that there is a systemic pattern in major U.S. financial regulation: (i) enactment is...
This paper clarifies why optimal corporate governance generally excludes monetary liability for breach of directors? and managers? fiduciary duty of...
The use of evidence and economic analysis in policymaking is on the rise, and accounting standard setting and financial regulation are no exception....
The SEC adopted Regulation FD (Reg FD) to address the selective disclosure by issuers of material nonpublic information. Selective disclosure results...
The rules governing companies listed on the Main Market of the London Stock Exchange and its Alternative Investment Market fill an important gap in the...
The recent bailout of Credit Suisse is noteworthy for many reasons. One of them is that, while AT1 bondholders were wiped out, shareholders were not. This...