Reconnecting the Financial Sector to the Real Economy: A Plan for Action

9 Pages Posted: 17 Sep 2014

See all articles by Edward J. Waitzer

Edward J. Waitzer

York University - Osgoode Hall Law School; York University - Schulich School of Business; Stikeman Elliott LLP

Douglas Sarro

University of Ottawa - Common Law Section

Date Written: September 17, 2014

Abstract

Informational asymmetries, misaligned incentives, and artificially elongated chains of intermediation have created a disconnect between the financial sector and the real economy that is detrimental to the public interest. Courts and regulators are increasingly intervening to break the cycle. Fiduciary law offers a conceptual framework both for understanding and responding to this trend. This article argues that the financial sector, rather than waiting for this trend to develop and reacting to new rules in a piecemeal way, should be proactive and shape the way in which the trend develops.

Keywords: Collaboration Strategies, Fiduciary Law, Financial Sector Reform, Pension Fund, Social Utility

Suggested Citation

Waitzer, Edward J. and Sarro, Douglas, Reconnecting the Financial Sector to the Real Economy: A Plan for Action (September 17, 2014). Rotman International Journal of Pension Management, Vol. 7, No. 2, 2014, Available at SSRN: https://ssrn.com/abstract=2497496 or http://dx.doi.org/10.2139/ssrn.2497496

Edward J. Waitzer (Contact Author)

York University - Osgoode Hall Law School ( email )

4700 Keele Street
Toronto, Ontario M3J 1P3
Canada
416 869 5587 (Phone)

York University - Schulich School of Business

4700 Keele Street
Toronto, Ontario M3J 1P3
Canada

Stikeman Elliott LLP

5300 Commerce Court West
199 Bay Street
Toronto, ON M5L1B9
Canada

Douglas Sarro

University of Ottawa - Common Law Section ( email )

57 Louis Pasteur Private
Ottawa, K1N 6N5
Canada

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