Company and capital markets laws are rapidly evolving everywhere: there are few countries around the world where they have not been the subject of reform or where at least a reform agenda has not been devised. There are various reasons for this, both global and local. Among the global (or common) reasons for reform, two at least deserve to be singled out: large-scale market crises or prominent economic scandals, and financial development.
Luca Enriques and Matteo Gatti,
EC Reforms of Corporate Governance and Capital Markets Law: Do They Tackle Insiders' Opportunism?,
Nw. J. Int'l L. & Bus.