Thursday, May 17, 2012
Too Big to Flail?
Today's headlines are all about banks, and our upcoming Symposium on Competition and Financial Services could not be more timely. I hope that you and your colleagues will join Paul Volcker and an exceptional group of leading scholars, current and former enforcement officials, and experienced practitioners, who will explore the importance of the financial services sector to competition, and the growing importance of competition and consumer protection law to financial services. The date is Thursday, June 7, at Columbia Law School in New York.
Too big? Too fragile? Too profitable? Too competitive? No industry is more important to the global economy, making it essential to get the rules on competition and consumer protection right. The recent shock waves jolting the industry highlighted critical questions: Should the rules of competition be different for financial institutions? Should mergers among financial institutions be subject to greater (or fewer) limitations? Are the antitrust laws being adequately enforced against arrangements among financial firms? How can the various protections for consumers of financial products be reconciled and managed?
This symposium, jointly sponsored by our Section and Columbia Law School, will examine the role of competition and consumer protection in financial services as the industry enters a new stage. Panels will focus on (1) the role of competition in the financial sector in a Dodd-Frank era; (2) mergers in the banking industry and the extent to which size matters; (3) consumer protection in the financial sector and its implications for competition; and (4) the effectiveness of antitrust enforcement in the financial sector.
C. Scott Hemphill, Chief of the Antitrust Bureau of the New York State Attorney General's Office, F.M. Scherer of Harvard's Kennedy School of Government, FTC Commissioner Julie Brill, and Lawrence J. White of NYU's Stern School of Business provide the anchors for each discussion, and will be joined by Thomas Baxter, General Counsel of the Federal Reserve Bank of New York, Joseph Wayland, Acting Assistant Attorney General in charge of the Antitrust Division of the United States Department of Justice, Len Kennedy, General Counsel of the Consumer Financial Protection Bureau, and a host of leading experts. Harvey Goldschmid of Columbia Law School (and a former SEC Commissioner) and Jim Wilson, a former Chair of our Section, co-chair this important event.
So, take advantage of a unique opportunity to hear some of the nation's best minds tackle the most vital issues at the intersection of law and the economy--in one day, free of charge to our members. This symposium promises to be singularly informative and thought provoking for anyone with an interest in antitrust law, consumer protection, financial services, and what happens when they meet. For more information, go to http://AmBar.org/ATSymposium.
Mastering E-Books
The Section released its first e-book at our recent Spring Meeting. Titled "Handbook of U.S. Antitrust Sources," this marvelous publication puts all the source material you need on your laptop, tablet, or smart phone. And, it's searchable, making it particularly useful. Now, Steve Stack, who was instrumental in developing this book and the Section's entire e-publishing program, has created a lively instructional video to demonstrate just how easy this product is to use, and all the wonderful places it will take you. Watch the video and you will understand why you must have this great new resource. Go to http://www.americanbar.org/groups/antitrust_law/publications.html.
You'll be glad you did. You can even bring it with you on June 7 to the Symposium! See you there.
All the best,
Richard M. Steuer
Chair, Section of Antitrust Law
