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But all these regulations will take time to go into full force.
"The jury is still out," Dr. Hickok said, referring to the form the final regulations will take.
At this point, it is unclear what shape the global regulations will take — or whether they will come together at all.
As part of the effort to screen out potential terrorists, new Justice Department regulations will take effect beginning Sept. 11 that ultimately would require some 100,000 foreign students, tourists, researchers and other visitors to register with the federal government, officials said.
New state regulations will take effect on Jan . 1 but the governor said New York had jurisdiction to regulate only about a fifth of the sprawling market, and he called on the federal government to take steps of its own to oversee credit-default swaps, which have gone unregulated.
Creating new, workable institutions and oversight regulations will take time.
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Global regulation will take 20 years to achieve.
The new regulation will take away the advantage of early knowledge of vital company information -- conveyed directly or indirectly -- that has been enjoyed by analysts, their customers and big institutional buyers over the general public, which often does not hear good or bad news until the stock has already moved.
Uncertainty of what shape regulation will take has led numerous companies to delay final decisions on big capital-spending plans.
While the full impact of the regulation will take time to shake out — the exact shape and tone of Facebook's new global privacy settings center remains to be seen, for example — European Union lawmakers are already rightly celebrating a long overdue shift in the balance of power between platforms and consumers.
If this proposal is approved, the new regulation will take effect in late 2008.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com