Guseva, Yuliya; Hutton, Irena - 2022
innovations. Although justified and necessary, this systems-based strategy discounts the reality that U.S. financial regulation is … reaction to regulation may be explained by who enforces substantive law (the CFTC or the SEC). We provide theoretical … explanations and underscore that, while U.S.-led enforcement is generally viewed as costly, some types of regulation may have the …