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Full-Text Articles in Law
The Dark Side Of Self-Regulation, Benjamin P. Edwards
The Dark Side Of Self-Regulation, Benjamin P. Edwards
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The financial services industry indirectly regulates itself through little discussed, scandal-prone, and structurally-entrenched self-regulatory organizations. FINRA, the most prominent of these self-regulatory organizations, makes regulations and sets enforcement policy that directly affect public welfare. As with other self-regulatory organizations, FINRA's structure poses a continual risk that industry members will subvert its processes to act like a cartel, promoting industry interests at the expense of the public and contributing to the excessive rents collected by financial intermediaries. Although this dark side to self-regulation poses a constant danger, structural reforms may increase the likelihood that FINRA and other self-regulatory organizations will take …
The Professional Prospectus: A Call For Effective Professional Disclosure, Benjamin P. Edwards
The Professional Prospectus: A Call For Effective Professional Disclosure, Benjamin P. Edwards
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Without easy access to relevant information, many consumers unwittingly trust serious decisions to professionals with histories of malpractice and negligence-leading to both individual and societal harms. This Article proposes to improve professional services markets with a tool that has already proven effective in the securities markets: a prospectus. A "Professional Prospectus" would reduce information asymmetries and improve the market for professional services through disclosure and consumer choice.
A Professional Prospectus would alter the market for professional services by making professional reputation a more potent force. Economic theory often relies on "reputation effects" to ensure the efficient functioning of the market …
Introduction To The 2017 Annual Survey Of Consumer Financial Services Law, John L. Ropiequet, Andrew M. Smith, Keith A. Rowley
Introduction To The 2017 Annual Survey Of Consumer Financial Services Law, John L. Ropiequet, Andrew M. Smith, Keith A. Rowley
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No abstract provided.