Insights Publishes James Deeken Review of ‘Rethinking Securities Law’
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Insights - The Corporate & Securities Law Advisor has published “A Review of Professor Marc Steinberg’s Rethinking Securities Law” by Akin Gump investment management partner James Deeken.
Deeken sets up the review by discussing the “state of significant flux” in which securities law finds itself and noting that much of the debate surrounding “the SEC’s frenzied pace of proposed rulemaking” has come from outside academia. For that reason, he notes that “there is perhaps a no more opportune time for a renowned securities law professor to put forth an extensive analysis of the current play of securities laws and how they might be improved upon.”
Deeken goes on to note the value of Professor Steinberg’s volume both as an adjunct to the ongoing debate and as “a plain English summary of the mosaic that regulates the securities market and its participants…[that] should be required reading for anyone beginning a career in securities law or in public company reporting.” He then examines several of the positions that the author advocates, such as including enhanced summaries in disclosure documents so that individual retail investors needn’t read through a lengthy disclosure, moving securities law more towards an approach focused on substantive fairness rather than solely on disclosure, and increasing stockholder ability to nominate directors in a company’s proxy.
He closes by stating, “While not all of Steinberg’s individual recommendations will be taken at face value, the book is extremely valuable as an informative and timely resource for jogging debate, in addition to serving as a helpful educational work.”
To read the full article, click here.
