Regulatory sloth and activism in the effervescence of financial crisis

N Dorn

Research output: Contribution to journalArticleAcademicpeer-review

8 Citations (Scopus)


Certain financial market practices, previously denied or disregarded by financial market regulators, are being redefined as candidates for active investigation and enforcement. This article contrasts the passive stance of the U.S. Securities and Exchange Commission vis-à-vis the Madoff fraud with its relatively diligent but now settled Complaint against Goldman Sachs. The article also explores compromises in the EU’s approach to market regulation of information asymmetry, suggesting that grounds for pessimism outweigh those for hope. The introduction sets the context, describing aspects of the first leg of the crisis (states bail out banks) and the second leg (states themselves come under strain).
Original languageEnglish
Pages (from-to)428-448
Number of pages21
JournalLaw & Policy
Issue number3
Publication statusPublished - 2011


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