Document Type

Article

Publication Title

Virginia Journal of International Law

Abstract

Part I discusses the regulatory competition debate in the context of securities regulation. Part II describes the article's plan to partition the market, based on the ability of investors to price regulatory protections. Part III discusses the benefits of investor regulation for the portable reciprocity proposal. Significantly, portable reciprocity must be measured, not against the alternative of a perfect world securities regulator, but instead against the prospect of multiple country regulators, each individually deciding how to regulate securities transactions that affect their interests. Not only may individual regulators fail to coordinate over transactions that affect multiple countries, but such regulators may make mistakes, respond slowly to changes in the financial marketplace, and cater to special interests within their own country.

First Page

815

Volume

41

Publication Date

2001

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