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.

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Date posted: September 1, 1999  

Suggested Citation

Karmel, Roberta S., The Challenge to Financial Regulators Posed by Social Security Privatization. Brooklyn Law Review, Vol. 64, P. 1043, 1998. Available at SSRN: https://ssrn.com/abstract=178189

Contact Information

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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