Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Monday, January 22, 2007

Bloomberg-Schumer Report on Financial Markets' Competitiveness

NYC Mayor Michael Bloomberg and NY Senator Charles Schumer issued a report  that warns that "if we do nothing, within ten years while we will remain a leading regional financial center, we will no longer be the financial capital of the world." It finds, among other things, that:  the U.S. regulatory framework is a "thicket of complicated rules, rather than a streamlined set of commonly understood principles."  It calls for re-examination of SOX implementation, legal reforms to reduce meritless litigation, and easing immigration restrictions. 

http://lawprofessors.typepad.com/securities/2007/01/bloombergschume.html

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