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The Logic of Securities Law

The Logic of Securities Law

Author: Nicholas Georgakopoulos
Publisher: Cambridge University Press
ISBN: 9781107158504

Published In: April 2017
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only
Paperback Edition ISBN: 9781316610992

List Price: HKD 1,482.00

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Description
Contents

Details

This book opens with a simple introduction to financial markets, attempting to understand the action and the players of Wall Street by comparing them to the action and the players of main street. Firstly, it explores the definition of a security by its function, the departure from the buyer beware environment of corporate law and the entrance into the seller disclose environment of securities law. Secondly, it shows that the cost of disclosure rules is justified by their capacity to combat irrationalities, fads, and panics. The third section explains how the structure of class actions is designed to improve deterrence. Next it explores the economic harm from insider trading and how the law fights it. In sum, the book shows how all these parts of securities law serve the virtuous cycle from liquidity to accurate prices and more trading and how the great recession showed that our securities regulation reacted mostly adequately to the crisis.

1. Introduction. Real markets and financial markets

Part I. Definition of a Security: When to Leave Buyer Beware for Seller Disclose?:

2. Toward defining a security

3. The vacuous definition of a security

4. The function of investment contract

5. Pricing mechanisms

6. From the sale of business doctrine to Gustafson

7. Gustafson works!

8. Definition conclusion

Part II. Disclosure: Why Subsidize Informed Traders?:

9. Introduction

10. An overview of disclosure theories