Recent litigation in financial markets in the United States and Australia has illustrated the use of ingenious and opportunistic legal arguments by market participants and regulators keen on securing self-interest objectives. The competitive advocacy played out in the courtroom has often produced inefficiencies, led to unsettled law and undermined market confidence in rules and regulation.
Journal of International Banking Law & Regulation,
Vol. 20, no. 7 (2005), pp. 315-324