This Comment seeks to understand the relative legal risk facing over-the-counter derivative contracts in London and New York by analyzing the approach each city’s legal system took in deciding to regulate total return swaps. It argues that regulators on both sides of the Atlantic should devote equal attention to the implementation of financial regulation as the specific regulations themselves when it comes to limiting legal risk in the financial marketplace and maintaining a jurisdiction’s competitiveness.
A Tale of Two Cities: Regulating Equity Derivatives in New York and London,
B.C. Int'l & Comp. L. Rev.