Securities Law Prof Blog

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

Wednesday, March 7, 2007

AALS Sec Reg Call for Papers

Call for Papers: An Evaluation of the Recent Regulatory Reforms and Litigation
AALS Securities Regulation Section Meeting January 2008 in New York City

After the collapse of Enron, Adelphia, Worldcom and other high flyers of the 1990s, there was a crisis of confidence in American business and securities regulators. Numerous federal and state enforcement and regulatory actions occurred in the wake of these scandals. These included: the passage of the Sarbanes-Oxley Act of 2002; the research analyst prosecutions by the New York Attorney General and the Securities and Exchange Commission and the reform of the regulation of analysts; and prosecutions of mutual funds and reform of mutual fund governance. A torrent of criminal prosecutions and civil litigation under Rule 10b-5 and other securities law statutes also occurred.

Numerous law review articles have been written, explaining, praising or criticizing these developments.  Currently, several high-powered decision makers have asserted that the U.S. capital markets are becoming less competitive than overseas markets due, in part, to the U.S. regulatory and litigation environment.  Further, there has been a push back in the courts as to expansive interpretations by the SEC of its authority and expansive district court opinions regarding the reach of the anti-fraud provisions.

We are seeking papers for the January 2008 meeting of the AALS Securities Regulation Section in New York discussing any aspect of these developments.  A broad range of topics is possible, and we hope to have a lively discussion on whether regulatory and litigation developments have gone too far, not far enough or have appropriately dealt with the problems which led to the 1990s stock market bubble and its collapse. A special issue of the Brooklyn Journal of Corporate, Financial & Commercial Law will be devoted to these papers.

Please submit an abstract of any proposed papers and any available drafts  to Roberta S. Karmel at Brooklyn Law School by March 30, 2007,, or by mail to Brooklyn Law School, 250 Joralemon Street, Brooklyn, New York 11201.

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