MiFID, the Market in Financial Instruments Directive, in force 1st November 2007, is hailed as the next great step toward market integration within the European Union. It is grounded in two key traditional policies of market regulation: surveillance and management. MiFID will exact a greater...

Regulatory power has become fractured. Its assertion both by public and private bodies is well known. Less well recognized is that the expression of this regulatory power has been fracturing as well. No longer confined to positive regulation or judicial decision, the techniques for enforcing...

Recent legislation - Section 10A of the Securities Exchange Act of 1934 for auditors and Section 307 of the Sarbanes-Oxley Act for lawyers - has imposed on corporate outsiders certain duties to monitor unlawful activity within a corporation, and to report that activity to designated corporate...