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4 - Public Enforcement

The SEC’s Settlement Practices

from Part II - Applications

Published online by Cambridge University Press:  23 August 2020

Roy Shapira
Affiliation:
Interdisciplinary Center (Israel)/University of Chicago
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Summary

Public enforcement affects reputations too. The Securities and Exchange Commission (SEC) enforcement actions, in particular, play a key role in shaping the behavior of publicly traded companies. Much like with private litigation, SEC enforcement shapes behavior not just through imposing fines but also through producing information. This chapter examines how effective SEC enforcement practices are in generating valuable information and facilitating reputational sanctioning. Switching our focus from Delaware litigation to SEC investigations enriches our understanding of the law-and-reputation theory and illustrates its broad applicability. Most notably, we learn how regulatory enforcement actions generate different reputational dynamics than private litigation.

Type
Chapter
Information
Law and Reputation
How the Legal System Shapes Behavior by Producing Information
, pp. 107 - 121
Publisher: Cambridge University Press
Print publication year: 2020

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  • Public Enforcement
  • Roy Shapira
  • Book: Law and Reputation
  • Online publication: 23 August 2020
  • Chapter DOI: https://doi.org/10.1017/9781316890653.005
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  • Public Enforcement
  • Roy Shapira
  • Book: Law and Reputation
  • Online publication: 23 August 2020
  • Chapter DOI: https://doi.org/10.1017/9781316890653.005
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Public Enforcement
  • Roy Shapira
  • Book: Law and Reputation
  • Online publication: 23 August 2020
  • Chapter DOI: https://doi.org/10.1017/9781316890653.005
Available formats
×