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The Use Of Audited Self-Regulation As A Regulatory Technique, Douglas C. Michael
The Use Of Audited Self-Regulation As A Regulatory Technique, Douglas C. Michael
Law Faculty Scholarly Articles
At first blush, "self-regulation" seems to be self-contradicting. If government regulation of an industry or problem is considered necessary, how can that responsibility then be returned to those from whom it was taken? Notwithstanding this apparent contradiction, audited self-regulation is used successfully by federal regulatory agencies. It is apparently adopted, however, on an ad hoc basis: in one industry or application but not in another that possesses similar characteristics. This article reviews these previously uncollected efforts at audited self-regulation to evaluate the general usefulness of this regulatory technique across industries and applications. These insights would be relevant not only to …
Resales Of Securities Under The Securities Act Of 1933, Rutheford B. Campbell Jr.
Resales Of Securities Under The Securities Act Of 1933, Rutheford B. Campbell Jr.
Law Faculty Scholarly Articles
This Article explains the failings of the Securities and Exchange Commission in dealing with resales of securities and suggests an appropriate statutory and policy framework for a principled approach to the matter. Part I of this article is an introduction to this issue. Part II of this Article describes the present situation regarding the law of resales. Part III of this Article offers a series of broad observations about resales under the 1933 Act, suggests an economic analysis for the registration provisions of the 1933 Act, and presents some more specific recommendations concerning resale rules.