NERA Hosts Inaugural Law and Economics Thought Leader Roundtable

22 July 2013

New York -- NERA Economic Consulting, a leading global provider of economic advice and analysis in business, legal, and regulatory matters, recently hosted its inaugural Law and Economics Thought Leader Roundtable in London to discuss emerging legal and economic questions currently arising in the areas of bribery, corruption, insider dealing, and fairness to investors. NERA is planning to host additional roundtables in this series in the near future.

"Allegations of wrongdoing in securities trading and financial services have become a high-profile area in the UK," said Dr. Conroy, NERA Senior Vice President and Chair of the firm’s Securities and Finance Practice. "NERA's years of experience in this area and our understanding of the intersection of law and economics mean our experts are in a unique position to provide valuable insights to law and financial services firms grappling with securities-related litigation and regulatory enforcement."

The inaugural roundtable was led by NERA economists Dr. Patrick Conroy, Dr. Graeme Hunter, Dr. Vinita Juneja, and Dr. Chudozie Okongwu, and included a select group of barristers, solicitors, and regulators. The group focused their discussion on the driving forces of future bribery and corruption claims in the UK, and how innovations in technology are shaping new challenges for regulators and market participants in relation to how information is disseminated in the market place. Specific issues they examined included:

  • Whether private actions would help to reduce bribery and corruption as compared to other enforcement mechanisms, and whether their proliferation would be desirable for society;
  • The characteristics of "competitor claims" (an action brought up by an honest bidder against a dishonest bidder in a procurement process);
  • The need to develop a robust economic framework to recognize the losses derived from fraudulent procurement processes as well as the incentives and disincentives of the parties involved in a bribery or corruption matter to engage in a private dispute resolution mechanism;
  • The need to distinguish between different types of information and the relevance of the way information is disseminated, specifically when assessing the materiality of that information; and
  • An examination of the differences between insider dealing regulations in the UK and the US, the need for clarity under each regime, and how these differences may influence investors' decisions regarding securities trading in different jurisdictions.

About NERA

NERA Economic Consulting (www.nera.com) is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For over half a century, NERA's economists have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world's leading law firms and corporations. We bring academic rigor, objectivity, and real world industry experience to bear on issues arising from competition, regulation, public policy, strategy, finance, and litigation.

NERA's clients value our ability to apply and communicate state-of-the-art approaches clearly and convincingly, our commitment to deliver unbiased findings, and our reputation for quality and independence. Our clients rely on the integrity and skills of our unparalleled team of economists and other experts backed by the resources and reliability of one of the world's largest economic consultancies. With its main office in New York City, NERA serves clients from more than 25 offices across North America, Europe, and Asia Pacific.