The trouble with backdoor proxy regulation
|Area||Corporate Finance and Securities, Shareholder Rights and Activism|
Article originally published in the Canadian Lawyer Magazine, March 2013
Excerpt from "The trouble with backdoor proxy regulation":
What if food safety regulations were embedded in a regulatory framework for the licensing of food vendors? Or if highway traffic laws were embodied in the system developed for regulation of car rental agencies, or auto dealerships? Almost nobody would argue (when I was younger I would start sentences like this by saying that nobody would argue, but I have learned the hard way that there’s always somebody to argue anything) the public interest is not well served by legal restrictions on contents of food, and on driving. The regulation of those activities through the back door, however, would be curious at best.