Recent Trends in SEC Regulation of Foreign Issuers: How the U.S. Regulatory Regime is Affecting the United States' Historic Position as the World's Principal Capital Market

摘要

When Professor Howson broached to me the idea for this event, he suggested that an appropriate topic might be my twenty years of practice as a corporate lawyer advising on cross-border merger and acquisition (M&A) transactions and securities offerings and the changes I have seen in that time. I had felt that a retrospective on my career might be a bit premature, but as I considered the subject, the premise seemed sound. The past twenty years have seen greater expansion and diversity of cross-border transactional practice for U.S. lawyers than at any point I can think of, with the possible exception of the period at the turn of the twentieth century prior to World War I (which, I hasten to add, I did not experience personally). But as a result of various developments since the turn of the millennium, it will be a challenge for the next twenty years to see similar expansion and diversity.