Technological advances and the ever growing desire for inexpensive capital have resulted in the internationalization of the securities markets. During the past two decades, for example, the international bond market has grown at an impressive rate. Consistent with this development, international...

As evidenced by the enactment of the Sarbanes-Oxley Act, the most extensive revision of the U.S. securities laws since the New Deal era, the focus on corporate accountability and standards of conduct has become magnified. Related to this development is the continued emphasis on insider trading...