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New Legislation Permitting Stock Futures: The Long And Winding Road, William J. Brodsky
New Legislation Permitting Stock Futures: The Long And Winding Road, William J. Brodsky
Northwestern Journal of International Law & Business
This article will explain how the stock futures issue arose, how Congress handled it last year, and the application of the legislation to this new product. While I believe that the approach taken in the CFMA will allow stock futures to trade on a level regulatory playing field in many areas with stock options, which are regulated solely as securities, it will not remove all the disparities between these two competing products. That will only occur when Congress acquires the political will to merge the SEC and the CFTC to create a modem regulatory system for the U.S. equity markets.
Multinational Regulatory Competition And Single-Stock Futures , Frank Partnoy
Multinational Regulatory Competition And Single-Stock Futures , Frank Partnoy
Northwestern Journal of International Law & Business
Whereas these first two forms of regulatory competition are well documented and covered in the legal literature, the third form - which I call "multinational regulatory competition" - is newer and more difficult to characterize. Accordingly, any claims about future regulatory competition in this form necessarily are speculative. By "multinational regulatory competition," I mean competition occurring when a group of regulators from more than one sovereign forms a partnership as a multinational regulator and then seeks to compete with other groups of regulators, also formed from more than one sovereign. There is some recent empirical evidence that regulatory trends in …