The Future of the Securities and Exchange Commission as a Market Regulator

48 Pages Posted: 20 May 2009  

Roberta S. Karmel

Brooklyn Law School

Date Written: May 20, 2009

Abstract

This Article discusses the traditional responsibilities of the Securities and Exchange Commission as a market regulator and the future prospects for the continuation of these mandates. The jurisdictional conflicts between the Securities and Exchange Commission and the Commodity Futures Trading Commission and the reasons why they have remained separate agencies are set forth. The Article also suggests several areas where securities market regulation has failed and new areas where the Securities and Exchange Commission, or a combined Securities and Exchange Commission and Commodity Futures Trading Commission, should focus with respect to market regulation. The areas discussed are broker-dealer capital adequacy, credit and other derivatives trading, short sales, hedge funds, and credit rating agencies.

Keywords: financial regulatory reform, securities market regulation, Securities and Exchange Commission, Commodity Futures Trading Commission, SEC, CFTC, Treasury Blueprint, derivatives, credit default swaps, short selling, short sale regulation, margin, systemic risk, capital adequacy, hedge funds, money

Suggested Citation

Karmel, Roberta S., The Future of the Securities and Exchange Commission as a Market Regulator (May 20, 2009). Cincinnati Law Review, 2010; Brooklyn Law School, Legal Studies Paper No. 152. Available at SSRN: https://ssrn.com/abstract=1407576

Roberta S. Karmel (Contact Author)

Brooklyn Law School ( email )

250 Joralemon Street
Brooklyn, NY 11201
United States
(718) 780-7946 (Phone)
(718) 780-0375 (Fax)

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