Public v Private Enforcement

Private enforcement in the form of class actions backed by litigation funding in areas such as securities, financial products and competition law have truly arrived in Australia. Government legislation has traditionally sought to promote class actions as a way to achieve access to justice but more recently has embraced the class action as a mechanism for achieving deterrence. However, less consideration has been given to how private enforcement may assist or hamper public enforcement. This series looks at the class action from the perspective of the "private attorney-general" It considers how it does and should interact with public regulators like the Australian Securities and Investments Commission. Crucially, it takes an international perspective, examining the role of class actions in the United States in the aftermath of the Government Accountaiblity Office report of July 2011, which suggested that private enforcement could be taken against professional advisors.

The Aftermath of the Financial Crisis: Why Arbitration Makes Sense for Banks and Financial Institutions

Berger, Klaus Peter. The Aftermath of the Financial Crisis: Why Arbitration Makes Sense for Banks and Financial Institutions. Law and Financial Markets Review, Vol. 3, No. 1, Jan 2009: 54-63. Availability: <http://search.informit.com.au/documentSummary;dn=710394383213164;res=IELBUS>
Originally Published: 
Saturday, January 1, 2011

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