Ben Edwards on Self-Regulatory Organizations & Judicial Risk
In this episode, Benjamin P. Edwards, Associate Professor of Law and Director of the Public Policy Clinic at the University of Nevada Las Vegas William S. Boyd School of Law, discusses his draft article "Supreme Risk." Edwards explains that the United States financial markets are regulated primarily by self-regulatory organizations or "SROs" supervised by government agencies. He discusses his history of SROs, and observes that they can insulate financial markets from systemic political risk. But he notes that they are vulnerable to judicial risk, especially now that the Supreme Court seems poised to question the constitutional legitimacy of their structure. He reflects on the different potential constitutional problems, and explains how SROs can help mitigate judicial risk. Edwards is on Twitter at @BenPEdwards.