This Note argues that the EASD should implement suggestions offered in the Rudman Report for Nasdaq because the success of EASDAQ depends on maintaining the trust of all its constituencies in the fair operation of the market. Part I discusses the development of the current regulatory structures of the US and EU securities markets. Part II examines the Rudman Report and the arguments of those who criticize and praise it. Part III argues that the Rudman Report's recommendations should be adopted by EASDAQ, because EASDAQ models itself on Nasdaq, and therefore will encounter the same criticisms of self-dealing and conflicts of interest that surround the NASD, EASDAQ should preempt such complaints by acknowledging the findings in the Rudman Report. This Note concludes that the self-regulatory structure of the EASD and EASDAQ, combined with adoption of the Rudman Report's recommendations, will enable EASDAQ to implement fairness and efficiency considerations essential to a successful market.
Maria A. Volarich,
Easing the Regulation of a Pan-European Securities Market: Applying the Recommendations of the Rudman Report to EASDAQ,
19 Fordham Int'l L.J. 2230
Available at: http://ir.lawnet.fordham.edu/ilj/vol19/iss5/16