The No-Punch-Back Theory of Regulation

Thompson, Duane R.
December 2003
Journal of Financial Planning;Dec2003, Vol. 16 Issue 12, p22
Academic Journal
The article discusses theories of government regulation in the U.S. The capture theory of regulation suggests that regulators become "captured" by the industry that they are supposed to regulate. Proponents of the theory say the regulators become too comfortable with the industry they oversee. The capture theory calls into question the effectiveness of the U.S. Securities and Exchange Commission as a regulator of Wall Street. The no-punch back theory suggests that, absent a regulatory policy, the capture theory does not apply to regulators and industry.


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