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My friend, law-school classmate, and long-ago co-author [2] Adam Pritchard – now Professor of Law at the University of Michigan – explains in the new issue of Regulation why London’s once-impressive promise in competing against New York to again become the financial center of the world is fading. (Adam also highlights some ill unintended consequences of Sarbanes-Oxley.)
You can find Adam’s excellent article here, in pdf form, for downloading. [3]