The Securities and Exchange of Board of India (SEBI) is one of the most powerful regulators in India. As the regulator of one of the world's largest capital markets, it has a range of enforcement tools at its disposal, such as the imposition of monetary penalties, ordering the disgorgement of...

Transparency and accountability were the announced aims of the Securities and Exchange Commission (SEC) as it unveiled a new policy of requiring some enforcement targets to admit wrongdoing when they settled with the agency. The SEC had come under fire for allowing targets of enforcement to...

The Metaverse provides an unprecedented opportunity to observe competition in the making and derive insights into the determinants of competition.Created in December 2022, the Metaverse Competition Agency (“MCA”) studies how economic competition emerges, evolves, and ends. The MCA method is...

Courts are rarely asked to judge beauty. Such a subjective practice would normally be anathema to the ideal of objective legal standards. However, one area of federal law has a long tradition of explicitly requiring courts to make aesthetic decisions: the law of design. New designs may be...

The first statutory regulatory body that the government of India set up post the reforms of 1991 was the Securities and Exchanges Board of India (SEBI). As a regulator for the securities markets, SEBI was given the powers to create subordinate legislation and to investigate wrong-doing and...

Due to the principle of subsidiarity, European Union law is inherently incomplete. Hence, neither the transposition of the acquis communautaire, nor the law or impetuses coming from Brussels is a panacea to numerous real-life legal, economic or political problems not being focused upon by the...

Civil liability of rating agencies has to strike a balance between over-deterrence and overly lax behavior control. The resulting problems of a capital market freeze and difficulties of proof, as they become apparent in most legal systems and the European Commission's Draft Proposal to amend the...

As a result of the extensive failures of financial institutions that have occurred since 1995 in Japan, legal action against previous bank directors is expected to increase in the future. The question is, what should be the duty of care for a bank director, and in particular, what should be the...

Recently, an enactment designed to create a legal system for banking agencies in Japan to improve depositors' benefits based on the required structural changes of Japanese financial and capital markets was approved and promulgated. The author compares the U.S. and Japanese banking law systems,...

This article evaluates whether the Tokyo international capital market can play a major role in the realm of international finance and what it must do to get there. The historical development and relevant laws and regulations governing the operation of this market are discussed. In addition, this...