The Cambridge Handbook of Investor Protection

Leading experts analyze key topics in investor protection, market regulation, and the role of the Securities and Exchange Commission and other regulators.

Arthur B. Laby (Edited by)

9781108833943, Cambridge University Press

Hardback, published 27 October 2022

400 pages
26.2 x 18.3 x 2.7 cm, 0.93 kg

The topic of investor protection has occupied investors, businesses, regulators, academics, and courts since the 1930s. The topic exploded in importance after the 2008 financial crisis and the Bernard Madoff Ponzi scheme of the same year. Investor protection scholarship now seeks to respond to developments such as the institutionalization of the markets, the democratization of finance, and the enhanced role of market professionals and other gatekeepers. Additionally, although the philosophy of full disclosure remains the guiding principle behind the securities laws, recent research has questioned the merits of a disclosure-based regime. In light of these trends, regulators try to strike the right balance between imposing a strict investor protection regime, on the one hand, and giving businesses the freedom to innovate new projects, market new services, and reduce costs, on the other. The Cambridge Handbook of Investor Protection brings together leading scholars to inform this debate and fill a gap left by these developments.

Introduction: continuity and change in investor protection Arthur B. Laby
Part I. Institutionalization and Investor Protection: 1. The financialization of corporate governance Roberta S. Karmel
2. 'Public' mutual funds Jeff Schwartz
3. The overlooked effects of passive management Anita K. Krug
4. Retail investor protection and empowerment: reflections from the European Union Niamh Moloney
5. Which investors to protect? Evolving conceptions of the American shareholder Jacob Hale Russell
Part II. The Scope of Investor Protection Regulation: 6. Retirement plan reforms in the absence of a retirement policy Natalya Shnitser
7. Rogue brokers and the limits of agency law Deborah A. DeMott
8. Protecting investors of collective-investor trusts in China Lusina Ho
9. Jurisdiction and applicable law in investor suits Matthias Lehmann
Part III. The Regulation of Market Professionals: 10. Techniques of regulatory implementation: the case of Reg BI and Form CRS James A. Fanto
11. Regulation best interest, customer trust, and the move to make private investments more available to retail investors Donald C. Langevoort
12. Best execution: an impossible dream? Onnig H. Dombalagian
13. Equilibrium investor protection: active mutual fund fees Michel A. Habib and D. Bruce Johnsen
14. Reputational bonding and the birth of investment adviser regulation Arthur B. Laby
Part IV. Alternative Regulatory Regimes: 15. Do lawyers make good gatekeepers? Sung Hui Kim
16. Retail investors and Delaware corporate law J. Travis Laster
17. Investor protections in Muslim jurisdictions Russell Powell
18. Insider trading law in the United States and Australia: fiduciary breaches, market abuses, and the harshness of penalties Donna M. Nagy and Juliette Overland
19. Markets versus regulation: investor protection in the United States compared to Israel Nitzan Shilon.

Subject Areas: Financial law [LNP], Comparative law [LAM]