PennPPR
Fraud in the Market
March 22, 2011 - "The Political Economy of Fraud in the Market" - Penn Program on Regulation hosted Professor William Wilson Bratton and Professor Michael L. Wachter of Penn Law in a Risk Regulation Seminar at the Wharton School, where they presented the findings from their recent paper, "The Political Economy of Fraud in the Market", about securities fraud and how it may be combated. Wachter and Bratton discussed the issues surrounding current fraud on the market class actions against securities fraud. They found that these class actions do little to actually discourage securities fraud since it relies upon enterprise liability. They believe that individual private litigation would be a better course, especially if the Congress is able to give the Securities and Exchange Commission is given greater private and public enforcement powers to investigate and charge crimes of securities fraud. William Wilson Bratton is the Nicholas F. Gallicchio Professor of Law and the Co-Director for the Institute for Law and Economics at the University of Pennsylvania Law School. Michael L. Wachter is the William B. Johnson Professor of Law and Economics and is also the Co-Director for the Institute for Law and Economics at the University of Pennsylvania Law School.
Fraud in the Market
March 22, 2011 - "The Political Economy of Fraud in the Market" - Penn Program on Regulation hosted Professor William Wilson Bratton and Professor Michael L. Wachter of Penn Law in a Risk Regulation Seminar at the Wharton School, where they presented the findings from their recent paper, "The Political Economy of Fraud in the Market", about securities fraud and how it may be combated. Wachter and Bratton discussed the issues surrounding current fraud on the market class actions against securities fraud. They found that these class actions do little to actually discourage securities fraud since it relies upon enterprise liability. They believe that individual private litigation would be a better course, especially if the Congress is able to give the Securities and Exchange Commission is given greater private and public enforcement powers to investigate and charge crimes of securities fraud. William Wilson Bratton is the Nicholas F. Gallicchio Professor of Law and the Co-Director for the Institute for Law and Economics at the University of Pennsylvania Law School. Michael L. Wachter is the William B. Johnson Professor of Law and Economics and is also the Co-Director for the Institute for Law and Economics at the University of Pennsylvania Law School.