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Articles 1 - 3 of 3
Full-Text Articles in Law
Globalization Of Securities Enforcement: A Shift Toward Enhanced Regulatory Intensity In Brazil’S Capital Market?, Eugenio J. Cárdenas
Globalization Of Securities Enforcement: A Shift Toward Enhanced Regulatory Intensity In Brazil’S Capital Market?, Eugenio J. Cárdenas
Eugenio J. Cárdenas
This Paper, written for the “Globalization of the United States Litigation Model” symposium at Brooklyn Law School (October 21, 2011), inquires on whether emerging capital markets are shifting toward enhanced regulatory intensity in the enforcement of their securities laws, under the context of global legal convergence. It ventures into this puzzle of globalization, corporate law enforcement, and financial development, in light of the increasing phenomenon of regulatory convergence and international cooperation among securities regulators, in the realm of capital market surveillance and enforcement.
Focus is placed on the emerging Latin American region, namely Brazil’s securities market. The study explores Brazil’s …
Self-Regulation By The Mexican Stock Exchange: A Promising Path Toward Developing Mexico's Securities Market?, Eugenio J. Cárdenas
Self-Regulation By The Mexican Stock Exchange: A Promising Path Toward Developing Mexico's Securities Market?, Eugenio J. Cárdenas
Eugenio J. Cárdenas
Seeking to shed light on the extent to which self-regulation works in the Mexican securities market, the study involves an empirical analysis of 128 decisions issued by the Mexican Stock Exchange (MSE) during a recent five-year period, involving 89 cases of trading suspension sanctions. The research inquires on: i) the nature and aim of the self-regulation, on account of the wrongdoing governed and sanctioned; ii) the issuing companies targeted; and iii) how they respond to the sanctions, in terms complying. Reaction to the findings through a series of semi-structured interviews with key players of Mexico’s securities market further illustrate the …
Mexican Corporations Entering And Leaving U.S. Markets: An Impact Of The Sarbanes-Oxley Act Of 2002?, Eugenio J. Cárdenas
Mexican Corporations Entering And Leaving U.S. Markets: An Impact Of The Sarbanes-Oxley Act Of 2002?, Eugenio J. Cárdenas
Eugenio J. Cárdenas
What has led to the dramatic decline of cross-listing in U.S. markets since 2002? A significant number of foreign issuers have delisted their American Depositary Receipts from the New York Stock Exchange, accompanied by an impressive plunge in the level of additions, among other shocking facts. It is notable that this trend followed the enactment of the Sarbanes-Oxley Act of 2002, considered to be an excessive and rushed political response by Congress to the 2001 Enron and Worldcom scandals, aimed at restoring confidence.
Taking into account that in the company delisting tendency, the Mexican case was the most pronounced, yielding …