Vanderbilt Journal of Transnational Law

First Page



The most important securities market outside the United States is that of the United Kingdom. In both countries, the securities markets play a similar role and provide a viable method for the formation of capital. There are, however, a number of fundamental as well as practical differences in the methods by which the two countries have chosen to regulate their securities markets. This article will examine the current method and extent of securities regulation in the United Kingdom. In order to highlight certain aspects of the regulatory pattern and to make the system more comprehensible to American attorneys, this inquiry will require numerous comparisons with the more familiar practices of the United States. Although any description which includes such comparisons necessarily involves certain value judgments, criticism as such is not intended.