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This could lead to a concentration of filings in that jurisdiction, and force issuers to defend suits in many different locales.
It would force issuers of mortgage securities to keep some of the bonds on their own books, and it would impose new capital requirements on any financial firm "whose combination of size, leverage, and interconnectedness could pose a threat to financial stability if it failed".
A more pernicious effect might be to force issuers to disclose trade secrets.
The Irish stock exchange has so far rejected pressure from shareholders to force issuers to disclose individual executive remuneration.
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Regulators forced issuers to adopt more stringent criteria, but by then it was too late.
It would help if regulators forced issuers of bonds and other rated securities to provide more public information.
But the strategy pushed interest rates even higher, by further increasing the supply of bonds and forcing issuers to offer still higher rates.
THE idea of forcing issuers of securitised assets to keep some "skin in the game", by holding on to a chunk of the risk in those assets, has been floating for ages now.
Congress hasn't ordered the bureau to revise card agreements, though, and it is not clear how much authority the bureau would have to force card issuers' hands if it decided to try.
Asked what he was most proud of, he cited changes in the Nasdaq stock market, which stemmed from the discovery that market makers had violated antitrust laws by conspiring to keep customers' trading costs high, as well as his initiatives to force the issuers of prospectuses to use plain English and to promote investor education.
Australian retailers persuaded regulators in 2005 to force card issuers to cut fees nearly in half to around 1%.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com