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International Trade Law

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Northwestern Pritzker School of Law

Securities Law

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Full-Text Articles in Law

Regulation Of Global Futures Markets: Is Harmonization Possible Or Even Desirable?, Jane C. Kang Jan 1996

Regulation Of Global Futures Markets: Is Harmonization Possible Or Even Desirable?, Jane C. Kang

Northwestern Journal of International Law & Business

The February 1995 collapse of the British merchant bank, Barings Plc, and the announcement in June 1996 by the Sumitomo Corpora- tion of copper trading losses in excess of 2 billion dollars are only two of the more recent events underscoring the global complexity of finan- cial markets today. The failure of Barings resulted from unhedged proprietary positions in the Nikkei 225 on the Singapore International Monetary Exchange (SIMEX) and the Osaka Stock Exchange. This precipitated actions by financial regulatory and market authorities in Singapore, Japan, Hong Kong, the United Kingdom, and the United States. The events surrounding Sumitomo spanned …


The Dangerous Extraterritoriality Of American Securities Law, Stephen J. Choi, Andrew T. Guzman Jan 1996

The Dangerous Extraterritoriality Of American Securities Law, Stephen J. Choi, Andrew T. Guzman

Northwestern Journal of International Law & Business

The capital markets within the United States are among the larg- est in the world. Today, the combined volume of the New York Stock Exchange (NYSE), American Stock Exchange (AMEX) and Nasdaq market system reaches approximately $4 trillion dollars annually.' With the size of the U.S. markets has come an understandable pride in the success of the American regulatory system.2 Possessing one of the most complex and intricate of regimes, the regulatory system in the United States, as administered and monitored by the Securities and Exchange Commission (SEC), is often praised.3 Not surprisingly, perhaps, the United States has frequently attempted …