A System of Selective Substitute Compliance

摘要

In the field of securities regulation, there is something of a tradition for senior SEC officials to float major new initiatives in the pages of law reviews. The classic example is Milton Cohen's "Truth in Securities" Revisited, which appeared in the Harvard Law Review in 1966 and laid the conceptual groundwork for the integration of disclosure standards under federal securities laws and eventually the now-familiar practice of incorporation by reference. Ethiopis Tafara and Robert Peterson's Blueprint for Cross-Border Access to US. Investors may someday be seen as having a similar impact on the application of federal securities law to foreign entities.