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NCJRS Abstract

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NCJ Number: 119387 Find in a Library
Title: Normative Assessment of Stock Market Regulation (From Values in the Marketplace: The American Stock Market Under Federal Securities Law, P 137-151, 1988, James Burk -- See NCJ-119382)
Author(s): J Burk
Date Published: 1988
Page Count: 15
Sponsoring Agency: Walter de Gruyter & Co
1 Berlin 30, Germany United
Sale Source: Walter de Gruyter & Co
Genthiner Str 13
1 Berlin 30,
Germany (Unified)
Type: Report (Study/Research)
Language: English
Country: West Germany (Former)
Annotation: This chapter attempts to provide a normative and theoretical assessment of stock market regulation, with emphasis on intended and unintended results and the link between private interest and public good.
Abstract: The unintended and unforeseen consequences of market regulation are discussed, focusing on the inevitable obfuscations resulting from legislative compromise and the failure to develop collective moral goals within the securities industry. Federal securities regulation, it is concluded, weakened rather than strengthened social control. The prospects for regulating markets in a democratic society are discussed in detail. Special attention is given to potential regulation of international markets, which require an awareness of a great diversity of interests. While regulation is an imperfect enterprise, more attention should be given to monitoring and correcting unintended and negative effects on institutional development. 20 footnotes.
Main Term(s): Securities fraud
Index Term(s): Corporate self-regulation; Federal regulations; International cooperation
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