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Please use this identifier to cite or link to this item: http://hdl.handle.net/1959.3/46437
- The regulation of equity derivatives: functional rhetoric v economic substance
- Ciro, Tony
- The regulation of equity derivatives has proven to be problematic for successive regulatory frameworks. Part of the problem stems from the very fact that equity derivatives do not neatly fit into legal categories or regulatory frameworks that fail to keep pace with dynamic and innovative financial markets. It was anticipated that recent wholesale changes in Australia to the regulation of financial markets and services would overcome some of these difficulties. Despite some obvious improvements, it is argued that functional regulation has failed to live up to its mark. This is especially the case with the regulation of equity derivatives, where characterisation and disclosure requirements are divided between securities and derivatives. The article calls for further legislative reform to clarify the legal status and disclosure obligations of these complex derivative instruments.
- Publication type
- Journal article
- Company and Securities Law Journal, Vol. 20, no. 5 (Aug 2002), pp. 276-288
- Publication year
- Australia; Company law; Financial regulation; Financial services; Great Britain; Law; Law reform; Legislation; Securities; United States
- Lawbook Co.
- Publisher URL
- Peer reviewed