Hegemony or Deference: U.S. Disclosure Requirements in the International Capital Markets

This Article explores some of the main arguments for and against changing existing U.S. disclosure requirements insofar as they relate to non-U.S. issuers that offer their securities publicly in the United States or obtain a U.S. listing of their securities, and the relative benefits of a number of alternatives. It considers in detail an approach based on greater deference to home country disclosure standards in circumstances where the secondary market can be said to price shares efficiently.