e-journal

REFORMING THE TAXATION AND REGULATION OF MUTUAL FUNDS: A COMPARATIVE LEGAL AND ECONOMIC ANALYSIS

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ABSTRACT
Most Americans invest through mutual funds. An analysis of laws governing mutual
funds shows that U.S. mutual funds are taxed less favorably and regulated
more extensively than direct investments or other collective investments, including
alternatives available only to the wealthy. The structure of U.S. regulation—of
70-year old proscriptive bright-line rules subject to SEC exemptions—makes success
of U.S. mutual funds dependent on the resources, responsiveness, and flexibility
of the SEC. The legal framework for mutual funds in the E.U. is generally as
or more restrictive and inflexible than U.S. law, but competitive pressures force European
supervisors to be more flexible in adopting and implementing regulations,
and E.U. regulators have greater resources and are more responsive than the SEC.
The paper discusses mutual fund legal reforms, including proposals to eliminate
unjustified disparities in the treatment of mutual funds and their substitutes and
to improve regulatory flexibility and resources.

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Informasi Detail

Judul Seri

Journal of Legal Analysis

No. Panggil

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Penerbit

Oxford : Oxford University Press on behalf of The John M. Olin Center for Law., 2009

Deskripsi Fisik

Summer 2009: Volume 1, Number 2 ~ Journal of Legal Analysis

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

HUKUM

Info Detail Spesifik

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Pernyataan Tanggungjawab

agus

Versi lain/terkait

Lampiran Berkas

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