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008 170212s2015 gw | s |||| 0|eng d
020 _a9783319094595
_9978-3-319-09459-5
024 7 _a10.1007/978-3-319-09459-5
_2doi
035 _ato000557652
040 _aSpringer
_cSpringer
_dRU-ToGU
050 4 _aK3820-3836
072 7 _aLBBM
_2bicssc
072 7 _aLAW051000
_2bisacsh
082 0 4 _a343.07
_223
100 1 _aLatimer, Paul.
_eauthor.
_9463641
245 1 0 _aPromoting Information in the Marketplace for Financial Services
_helectronic resource
_bFinancial Market Regulation and International Standards /
_cby Paul Latimer, Philipp Maume.
260 _aCham :
_bSpringer International Publishing :
_bImprint: Springer,
_c2015.
300 _aXV, 238 p. 1 illus.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
505 0 _aChapter 1: Introduction – Promoting Information -- Chapter 2: Disclosure of Financial and Non-Financial Information in the Marketplace -- Chapter 3: How Should Financial Markets Be Regulated to Ensure That Information is Provided? -- Chapter 4: Promoting Information Under Broker/Client Rules at Common Law and in Equity -- Chapter 5: The Failure of Industry Licensing to Keep the Market Informed – Obligation to Provide Financial Services ‘Efficiently, Honestly and Fairly’ -- Chapter 6: The Ability of the Commission to Achieve Disclosure in Financial Markets -- Chapter 7: Stock Exchanges and the Promotion of Information -- Chapter 8: Towards Principles-Based Regulation.
520 _aThis book provides a unique comparative and global analysis of the regulation of disclosure in financial (securities) markets. It is written by two authors who represent both the new world (Australia) and the old world (Germany). The authors present their research in the global business context, with legal and regulatory perspectives including some references from Africa, Asia, the Middle East and South America. After every “boom” and “bust”, legislators pass new disclosure legislation, often in a heated environment fuelled by politics and the media. Little regard is paid to existing regulation or the lessons learned from earlier regulation. The result is the continuing enactment of redundant and overlapping disclosure laws. Since financial markets are often described as markets for information, the failure to ensure disclosure is at the heart of financial services regulation. This book argues that the solution to the failure of disclosure is a brief, easily understood, principles-based, plain English safety-net amendment to statute law such as “you must keep the financial market fully informed”, a measure that would support effective mandatory continuous disclosure of information to financial markets. This book examines the reasons for disclosure regulation, and how the efficient operation of financial markets is dependent on disclosure.  It examines the adequacy of common law and civil law concerning broker/client disclosure, and concludes that industry licensing in itself fails to keep the market informed.  While recognizing the failures of securities commissions to achieve good disclosure in financial markets, it confirms the effectiveness of coregulation of disclosure by a commission with the support of the financial markets (such as the stock exchange). Coregulation builds on financial market self-regulation, and is best described in the words of one-time SEC Chairman William O. Douglas, who, in the 1930s, described it as a shotgun behind the door.  .
650 0 _alaw.
_9303702
650 0 _aFinance.
_9142509
650 0 _aCommercial law.
_9302994
650 0 _aPrivate international law.
_9461741
650 0 _aConflict of laws.
_9461742
650 0 _aInternational law.
_9126072
650 0 _aComparative law.
_9307464
650 0 _atrade.
_9451204
650 1 4 _aLaw.
_9303702
650 2 4 _aInternational Economic Law, Trade Law.
_9446963
650 2 4 _aPrivate International Law, International & Foreign Law, Comparative Law.
_9444685
650 2 4 _aFinance, general.
_9460231
650 2 4 _aCommercial Law.
_9302994
700 1 _aMaume, Philipp.
_eauthor.
_9463642
710 2 _aSpringerLink (Online service)
_9143950
773 0 _tSpringer eBooks
856 4 0 _uhttp://dx.doi.org/10.1007/978-3-319-09459-5
912 _aZDB-2-SHU
999 _c412809