Joseph Kelliher
Joseph Kelliher
authority civil commission express hand meaningful necessary penalties played rather respond weak
The commission lacked the necessary statutory authority to respond more robustly with meaningful civil penalties and express anti-manipulation authority. The commission played a weak hand rather well, in my opinion.
analysis competition harm merger
These transactions are significant in size, but our merger analysis was very straightforward, indicating no harm to competition.
applying california clear complete lessons market markets rules
We are applying the hard-learned lessons of the California crisis, by assuring that clear and complete market rules are established before markets open. It is better to get it done right than to get it done fast.