Harmonizing Caribbean Securities Laws -- Approach for Achieving Convergence

2015 ◽  
Author(s):  
Annette Carol Borel
Keyword(s):  
Securities Laws

What Works in Securities Laws?

CFA Digest ◽  
2006 ◽  
Vol 36 (3) ◽  
pp. 3-5
Author(s):  
Charles F. Peake
Keyword(s):  
What Works ◽  
Securities Laws

A Historical Introduction to Arizona's Securities Laws

2012 ◽  
Author(s):  
Richard G. Himelrick
Keyword(s):  
Securities Laws

The Regulation of Crowdinvesting Under the Greek Securities Laws

2016 ◽  
Author(s):  
Konstantinos Serdaris
Keyword(s):  
Securities Laws

SAMUEL J. BROADS CONTRIBUTIONS TO THE ACCOUNTING PROFESSION

1996 ◽  
Vol 23 (2) ◽  
pp. 69-85 ◽  
Author(s):  
Gary John Previts ◽  
Thomas R. Robinson
Keyword(s):  
Self Regulation ◽  
Accounting Profession ◽  
General Acceptance ◽  
Accounting Principles ◽  
The Individual ◽  
Securities Laws ◽  
Analogous Reasoning ◽  
Independent Audit ◽  
Selection Of

In the decade following the passage of the Federal Securities Laws of 1933 and 1934, the reform of accounting and auditing practices directed authority for selection of accounting principles and auditing procedures away from the discretion of the individual accountant and auditor. Instead, a self-regulatory peer driven process to establish general acceptance for a more limited set of principles and procedures was being initiated. Two events which occurred in 1938 indelibly affected this process, the SEC's decision to issue Accounting Series Release No. 4, which empowered non-governmental entities as potential sources of authoritative support, and the McKesson & Robbins fraud which called into question the value of the independent audit and the role of external auditing at the very time a momentum had been established for self-regulation by the nascent and recently reunified accounting profession. The contributions of Samuel J. Broad in both the initiatives for self-regulation of accounting principles and of auditing procedures is examined in this paper. Further, several examples of Broad's rhetorical technique of employing analogous reasoning to facilitate dissemination of complex economic and accounting issues are examined.

When are Firms Sued for Qualitative Disclosures? Implications of the Safe Harbor for Forward-Looking Statements

2019 ◽  
Vol 95 (1) ◽  
pp. 31-55 ◽  
Author(s):  
Richard A. Cazier ◽  
Kenneth J. Merkley ◽  
John S. Treu
Keyword(s):  
Legal Liability ◽  
Safe Harbor ◽  
Litigation Risk ◽  
Securities Laws ◽  
Forward Looking

ABSTRACTPrior research finds that positive tone in firms' qualitative disclosures increases the risk of shareholder lawsuits. However, federal securities laws provide a safe harbor intended to shield firms' forward-looking statements from legal liability. One implication of this safe harbor is that litigation risk potentially varies between qualitative forward- and non-forward-looking statements. Consistent with this implication, we find that positive tone in forward-looking qualitative statements is significantly less related to the likelihood of subsequent litigation than is positive tone in non-forward-looking qualitative statements. On average, we fail to find a significant association between qualitative forward-looking statements and subsequent litigation. We do find evidence, however, that positive tone in qualitative forward-looking statements relates positively to subsequent litigation in two U.S. circuits in which court rulings reduced safe harbor protections for forward-looking statements. Overall, our results are consistent with the safe harbor effectively shielding firms' qualitative forward-looking statements from litigation risk.

scholarly journals Disclosure of Future-Oriented Information under the Securities Laws

1978 ◽  
Vol 88 (2) ◽  
pp. 338 ◽  
Keyword(s):  
Securities Laws

Investor protection, corporate governance and private information-based trading

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chun-Teck Lye ◽  
Chee-Wooi Hooy
Keyword(s):  
Corporate Governance ◽  
Emerging Markets ◽  
Private Information ◽  
Market Competition ◽  
Investor Protection ◽  
Civil Law ◽  
Securities Market ◽  
Market Manipulation ◽  
Content Type ◽  
Securities Laws

Purpose This study aims to examine the effects of investor protection (PROT), internal and external corporate governance (CG) on private information-based trading (PIBT). Design/methodology/approach This study uses a sample of 3,438 firms from 42 countries for the period 2002–2015 to examine the effects of the broad and specific measures of PROT, internal CG and external CG (product market competition and block ownership [BOWN]) on a more accurate measure of PIBT using regression analysis. Findings The results show that PROT and BOWN are effective in reducing PIBT. However, the specific measure of PROT (strength of PROT) is not significant in emerging markets and civil law countries. The internal CG is also significant but has a positive effect on PIBT. Research limitations/implications The results suggest that PROT law matters in the efforts to prevent PIBT. Policymakers and securities market regulators, particularly in emerging markets and civil law countries, should focus more on refining existing securities laws and enacting detailed securities rules that explicitly prevent specific market manipulation and PIBT. Originality/value This study provides evidence for the importance of specific and detailed securities rules in different market and legal environments. Furthermore, this study uses the segregated private information-based speculative trading component to accurately measure the PIBT.

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