Mary-Pat Cormier Quoted About Anticipated IOSCO Recommendation in Global Investigations Review Article
B&D Partner Mary-Pat Cormier was quoted in a July 14, 2014 article by Global Investigations Review about The International Organization of Securities Commissions (IOSCO) and their anticipated recommendation on the handling of corporate penalties. From the article:
Mary-Pat Cormier at Bowditch & Dewey in Boston said regulatory arbitrage is rare, and that publicly traded companies are usually keen to ensure they operate legally. However, further discrepancies could encourage less scrupulous companies to "go underground" and establish themselves in different jurisdictions to avoid strict regulation.
US legislators have traditionally been hostile to legislative change suggested by foreign bodies, Cormier said. However, should the US adopt IOSCO's recommendations, it would "get a lot more people on board".
Mary-Pat further discusses the topic in a blog post: D&O Insurance Trend Update: Another Move Towards More Global Securities Enforcement Cooperation?