The Challenge to Financial Regulators Posed by Social Security Privatization
Roberta S. Karmel
Brooklyn Law School
Brooklyn Law Review, Vol. 64, P. 1043, 1998
This article discusses some of the regulatory reforms that might accompany or follow social security privatization, especially if such privatization takes a form that permits individuals to choose their own investments in private investment accounts similar to defined contribution plans. Substantive changes may be made in the securities and other laws to ensure that equity investments are not made in highly risky ventures. These changes could involve a reconsideration of merit regulation, the institution of company registration, greater regulatory scrutiny of new financial products and more stringent safety and soundness regulation. This article also discusses possible jurisdictional changes in financial regulation involving a shift of responsibility from the states to the federal government, particularly in insurance regulation, and a general consolidation of regulatory authority.
Date posted: September 1, 1999
© 2016 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollobot1 in 0.579 seconds