New Models of Regulating the Financial Markets

The U.S. financial markets and financial institutions have long enjoyed a reputation for promoting capital formation, market stability, and investor protection. The financial meltdown and other market events, however, have renewed criticisms of the U.S. regulatory model as outmoded, anticompetitive, and ineffective.  In addition, the collapse of major financial services companies and the Bernard Madoff scandal have seriously damaged the Securities and Exchange Commission’s reputation as regulator of the securities markets.

The 75th Anniversary of the Securities and Exchange Commission marks an appropriate occasion for an examination of these issues.  The Symposium’s speakers will address proposals for regulatory reform from a variety of perspectives, both academic and practical.

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Agenda (View information and registration)

8:00 - 8:45 a.m. — Registration and Continental Breakfast
Introduction — Barbara Black, Charles Hartsock Professor of Law and Director, Corporate Law Center

9:00 - 10:30 a.m. Panel 1: The Future of the SEC, Part I
Presenters:
James D. Cox, Brainerd Currie Professor, Duke University School of Law
Why an Independent Regulatory Agency? The SEC at 75
Adam C. Pritchard, Professor, University of Michigan School of Law
London as Delaware
Commentator:
William K. Sjostrom, Jr., Associate Professor, Salmon P. Chase College of Law, Northern Kentucky University

10:30 - 10:45 a.m. — Break

10:45 a.m. - 12:15 p.m. — Panel 2: The Future of the SEC, Part II
Presenters:
Roberta S. Karmel, Centennial Professor, Brooklyn Law School
The Future of the SEC as a Market Regulator
Jerry W. Markham, Professor, Florida International University
Marketing the SEC and CFTC—Obstacles for the Paulson Report's Recommendations
Commentator:
Lisa H. Nicholson, Professor, Louis D. Brandeis School of Law, University of Louisville

12:15 - 1:30 p.m. — Lunch

1:30 - 3:15 p.m. — Panel 3: Alternative Visions
Presenters:
Janis Sarra, Professor, The University of British Columbia, Faculty of Law
Jonathan S. Sokobin, Director of the Office of Risk Assessment, Securities and Exchange Commission
Olufunmilayo B. Arewa, Associate Professor, Northwestern University School of Law
Commentator:
Lynn Bai, Assistant Professor, University of Cincinnati Collge of law

3:15 - 3:30 p.m. — Closing Remarks, Barbara Black

Government Reports

• Financial Regulation: A Framework for Crafting and Assessing Proporals to Modernize the Outdated U.S. Financial Regulatory System
• Financial Reform: A Framework for Financial Stability
• The Department of the Treasury Blueprint for a Modernized Financial Regulatory Structure
• Special Report on Regulatory Reform