E-Book Overview
This book argues that will deregulation and globalization of financial markets mean for the future of US financial regulation? This book argues that the uniqueness of US regulation derives from its success in promoting four principles of competitive fairness that US players demand from financial markets. The peculiar notion of a "level playing field" provides a novel approach to understanding the evolution of US regulation, including recent reform, and to predicting attitudes toward questions of global financial market supervision.
E-Book Content
US Financial Regulation and the Level Playing Field Helen A. Garten
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International Political Economy Series General Editor: Timothy M. Shaw, Professor of Political Science and International Development Studies, and Director of the Centre for Foreign Policy Studies, Dalhousie University, Halifax, Nova Scotia Titles include: Francis Adams, Satya Dev Gupta and Kidane Mengisteab (editors) GLOBALIZATION AND THE DILEMMAS OF THE STATE IN THE SOUTH Leslie Elliott Armijo (editor) FINANCIAL GLOBALIZATION AND DEMOCRACY IN EMERGING MARKETS Preet S. Aulakh and Michael G. Schechter (editors) RETHINKING GLOBALIZATION(S) From Corporate Transnationalism to Local Interventions Elizabeth De Boer-Ashworth THE GLOBAL POLITICAL ECONOMY AND POST-1989 CHANGE The Place of the Central European Transition Edward A. Comor (editor) THE GLOBAL POLITICAL ECONOMY OF COMMUNICATION Helen A. Garten US FINANCIAL REGULATION AND THE LEVEL PLAYING FIELD Randall D. Germain (editor) GLOBALIZATION AND ITS CRITICS Perspectives from Political Economy Barry K. Gills (editor) GLOBALIZATION AND THE POLITICS OF RESISTANCE Takashi Inoguchi GLOBAL CHANGE A Japanese Perspective Stephen D. McDowell GLOBALIZATION, LIBERALIZATION AND POLICY CHANGE A Political Economy of India’s Communications Sector Ronaldo Munck and Peter Waterman (editors) LABOUR WORLDWIDE IN THE ERA OF GLOBALIZATION Alternative Union Models in the New World Order Michael Niemann A SPATIAL APPROACH TO REGIONALISM IN THE GLOBAL ECONOMY Ted Schrecker (editor) SURVIVING GLOBALISM The Social and Environmental Challenges
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Kendall Stiles (editor) GLOBAL INSTITUTIONS AND LOCAL EMPOWERMENT Competing Theoretical Perspectives Caroline Thomas and Peter Wilkin (editors) GLOBALIZATION AND THE SOUTH Kenneth P. Thomas CAPITAL BEYOND BORDERS States and Firms in the Auto Industry, 1960–94 Geoffrey R. D. Underhill (editor) THE NEW WORLD ORDER IN INTERNATIONAL FINANCE Amy Verdun EUROPEAN RESPONSES TO GLOBALIZATION AND FINANCIAL MARKET INTEGRATION Perceptions of Economic and Monetary Union in Britain, France and Germany Robert Wolfe FARM WARS The Political Economy of Agriculture and the International Trade Regime
International Political Economy Series Series Standing Order ISBN 0–333–71708–2 (outside North America only) You can receive future titles in this series as they are published by placing a standing order. Please contact your bookseller or, in case of difficulty, write to us at the address below with your name and address, the title of the series and the ISBN quoted above. Customer Services Department, Macmillan Distribution Ltd, Houndmills, Basingstoke, Hampshire RG21 6XS, England
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US Financial Regulation and the Level Playing Field Helen A. Garten Professor of Law Rutgers University School of Law Newark New Jersey
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© Helen A. Garten 2001 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with