Final Report of the Securities Law Subcommittee of the Task Force on Extraterritorial Jurisdiction of the International Bar Association

35 Pages Posted: 21 Mar 2008 Last revised: 23 Nov 2010

Margaret E. Tahyar

Davis Polk & Wardwell LLP

Jaap Willeumier

Stibbe

Eric J. Pan

US Commodity Futures Trading Commission

Howell E. Jackson

Harvard Law School

Eilis Ferran

University of Cambridge - Faculty of Law; European Corporate Governance Institute (ECGI)

Date Written: July 1, 2008

Abstract

The International Bar Association's Securities Law Subcommittee of the Task Force on Extraterritorial Jurisdiction, comprised of a panel of academics, practitioners, senior in-house counsel at financial institutions and former regulators, has produced this report examining the need for reform of the regulation of the global securities markets. The report reviews approaches to addressing problems such as mutual recognition, regulatory convergence and disparities in enforcement intensity and makes a series of recommendations. The Subcommittee urges reform of domestic regulatory systems with a view towards its international impact and argues that such reform should be an urgent priority for legislative and regulatory bodies in major financial centers.

(Full list of Subcommittee members located in the text of the report.)

Keywords: Securities regulation, mutual recognition, international finance, extraterritorial

JEL Classification: F30, F36, G1, G15, G2, G24, L1

Suggested Citation

Tahyar, Margaret E. and Willeumier, Jaap and Pan, Eric J. and Jackson, Howell E. and Ferran, Eilis, Final Report of the Securities Law Subcommittee of the Task Force on Extraterritorial Jurisdiction of the International Bar Association (July 1, 2008). Available at SSRN: https://ssrn.com/abstract=1109061 or http://dx.doi.org/10.2139/ssrn.1109061

Margaret E. Tahyar

Davis Polk & Wardwell LLP ( email )

United States

Jaap Willeumier

Stibbe ( email )

47-51 Rue Henri Wafelaerts
060 Brussels
United States

Eric J. Pan (Contact Author)

US Commodity Futures Trading Commission ( email )

1155 21st Street NW
Washington, DC 20581
United States

Howell Edmunds Jackson

Harvard Law School ( email )

Griswald 402
1563 Massachusetts Avenue
Cambridge, MA 02138
United States
617-495-5466 (Phone)
617-495-5156 (Fax)

Eilis Ferran

European Corporate Governance Institute (ECGI)

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

University of Cambridge - Faculty of Law ( email )

10 West Road
Cambridge CB3 9DZ
United Kingdom
+ 44 1223 338335 (Phone)
+ 44 1223 338340 (Fax)

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