Securities Regulation as Gap-Filler: The Example of Hydraulic Fracturing
Wendy Gerwick Couture
University of Idaho College of Law
March 18, 2013
Securities Regulation Law Journal, Vol. 41, p. 207, 2013.
Hydraulic fracturing is a controversial well stimulation process used to maximize the extraction of underground resources like oil and gas. There has been a significant public and scholarly outcry for a federal regulatory response to hydraulic fracturing. Despite the perception of a slow federal regulatory response to hydraulic fracturing, one area of federal regulation has dealt extensively with hydraulic fracturing: securities regulation. In particular, public companies that are engaged in hydraulic fracturing operations must (1) make extensive periodic disclosures under Securities Exchange Act regulations; and (2) comply with the Exchange Act’s regulations regarding shareholder access to company proxy statements. After explaining how the securities laws regulate hydraulic fracturing, albeit indirectly, this Essay concludes with a broader discussion about the gap-filling role of securities regulation within the federal regulatory scheme.
Copyright 2013 by Thomson Reuters. All rights reserved. Reprinted by permission of Thomson Reuters/West from Securities Regulation Law Journal.
Number of Pages in PDF File: 12
Keywords: Securities Regulation, Disclosure, Proxy Access, Regulation, Natural Resources, Oil and Gas
Date posted: March 19, 2013 ; Last revised: July 30, 2013