March 23, 2008
Int'l Bar Assoc. Report on Extraterritorial Jurisdiction
Draft Report of the Securities Law Subcommittee of the Task Force on Extraterritorial Jurisdiction of the International Bar Association, by MARGARET E. TAHYAR, Davis Polk & Wardwell; JAAP WILLEUMIER, Stibbe, ERIC J. PAN, Yeshiva University - Benjamin N. Cardozo School of Law; HOWELL E. JACKSON, Harvard Law School, and EILIS FERRAN, University of Cambridge - Faculty of Law; European Corporate Governance Institute (ECGI), was recently posted on SSRN. Here is the abstract:
The International Bar Association's Securities Law Subcommittee of the Task Force on Extraterritorial Jurisdiction, comprised of a panel of academics, practitioners, senior in-house counsel at financial institutions and former regulators, has produced this draft report examining the need for reform of the regulation of the global securities markets. The report reviews approaches to addressing problems such as mutual recognition, regulatory convergence and disparities in enforcement intensity and makes a series of recommendations. The Subcommittee urges reform of domestic regulatory systems with a view towards its international impact and argues that such reform should be an urgent priority for legislative and regulatory bodies in major financial centers.
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