The structure and regulation of the New York Stock Exchange
Article Abstract:
The authors of 'The New York Stock Exchange and Its Out Moded Specialist System: Can the Exchange Innovate to Survive?' draw inaccurate conclusions about the structure of the market based on a failure to understand how the market operates. They do not acknowledge that the customer comes first in the market's present structure and give specialists a larger role in market activity than the market itself shows. The authors further fail to recognize the role of the specialists whom they are criticizing. These discrepancies, and a justification for the market's current structure, are discussed.
Publication Name: The Journal of Corporation Law
Subject: Law
ISSN: 0360-795X
Year: 1992
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Should bank directors fear FIRREA: the FDIC's enforcement of the Financial Institutions Reform, Recovery and Enforcement Act
Article Abstract:
The FDIC has been successful in using FIRREA to preempt state legislation when pursuing gross negligence claims against directors and officers of financial institutions. While FIRREA was intended to give the FDIC the power to bring suit against individuals for negligence, Congress also attempted to make sure the act did not preempt any state laws. It should be recognized that FIRREA only allows for pursuit of negligence claims that are permitted by state law. State exculpatory statutes must be considered in such cases.
Publication Name: The Journal of Corporation Law
Subject: Law
ISSN: 0360-795X
Year: 1992
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