The Professional Obligations of Securities Brokers Under Federal Law: An Antidote for Bubbles?

43 Pages Posted: 8 Aug 2010

See all articles by Steven A. Ramirez

Steven A. Ramirez

Loyola University of Chicago School of Law

Date Written: January 1, 2002

Abstract

The federal securities laws have professionalized the securities brokerage industry. The professional standards imposed pursuant to federal regime should operate to hold stockbrokers liable for professional malpractice similar to virtually every other profession ranging from law and medicine to landscapers and karate instructors. The efforts by courts to insulate brokers from liability create perverse incentives and will continue to destabilize financial markets.

JEL Classification: A12, G14

Suggested Citation

Ramirez, Steven A., The Professional Obligations of Securities Brokers Under Federal Law: An Antidote for Bubbles? (January 1, 2002). University of Cincinnati Law Review, Vol. 70, No. 2, p. 527, 2002; Loyola University Chicago School of Law Research Paper . Available at SSRN: https://ssrn.com/abstract=1655085

Steven A. Ramirez (Contact Author)

Loyola University of Chicago School of Law ( email )

25 E. Pearson
Chicago, IL 60611
United States

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