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Sustainability and securities market regulation

In: Comparative Financial Regulation

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  • Youcef Rahmani

Abstract

This chapter evaluates the extension of mandatory sustainability disclosure within securities law, comparing frameworks in the US, UK, and EU. It critically examines whether such disclosures align with traditional objectives of protecting investors and ensuring market efficiency, or if they represent a somewhat novel paradigm of promoting corporate accountability. A cross-jurisdictional analysis reveals divergent approaches: the investor-focused US model, the UK’s market-centric yet society-conscious framework, and the EU’s comprehensive mandates aimed at societal impact transparency. The chapter discusses the potential for mandated disclosures to change company cost structures through stakeholder engagement, encouraging firms to internalise sustainability-related externalities. It also highlights some of the limits of integrating stakeholder-centric disclosures within a securities law framework.

Suggested Citation

  • Youcef Rahmani, 2025. "Sustainability and securities market regulation," Chapters, in: Alessio M. Pacces & Edoardo D. Martino & Hossein Nabilou (ed.), Comparative Financial Regulation, chapter 18, pages 287-301, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:22050_18
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    File URL: https://www.elgaronline.com/doi/10.4337/9781035306473.00029
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