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The Taxonomy Of Global Securities: Is The U. S. Definition Of A Security Too Broad?, Frederick H. C. Mazando

Frederick H. C. Mazando

This Article compares the scope of the notoriously broad U.S. federal securities laws definitions of a “security” with its counterparts in four major global financial jurisdictions to illustrate the nature and extent of the disparate global securities definitions that profoundly shape international financial rules and potential areas of harmonizing global securities definitions. The global trade in securities developed and grew exponentially in the last three decades without a securities treaty or effective global securities rules largely because there is no global consensus on what securities are or how best to regulate them. The disparate global securities definitions are sine qua …