According to statute, securities exchanges play an essential role in ensuring compliance with applicable laws and industry standards. Long imagined as unique in their institutional capacity to bring traders together, collect information and exclude problem participants from the marketplace,...

This Article shows that fintech exacerbates the difficulties of standard setting in international financial regulation. Earlier work introduced the “Innovation Trilemma” (the Trilemma). When seeking to balance the goals of achieving market integrity and innovation through clear and simple...

This Article outlines a possible cure to the “empty creditor” problem in sovereign debt markets: a market for sovereign creditor control. Scholars and policymakers have long lamented the troubling influence of credit derivatives on sovereign debt. Lenders that use instruments like credit...

We present an introductory regulatory and empirical analysis of executive compensation in listed companies in India.Our descriptive overview of levels and trends leads to several interesting conclusions. First, executive pay in the echelon representing the largest firms is several times greater...

This Article argues that post-Crisis reform of over-the-counter derivatives is in trouble. While regulators agree on the broad strokes of regulation, they diverge on detail, often on core issues like how clearinghouses should manage risk. In examining divergences between United States and...

Totaling in excess of $100 billion dollars in transactions annually, debt buybacks allow a company to repurchase bonds from investors, rewriting bargains and stripping away creditor control rights in the process. This Article shows that regulation systematically under-protects bondholders in the...