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Moralizing the Market: How Gaullist France Embraced the US Model of Securities Regulation

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A novel historical perspective on how stock markets influence each other internationally.

A nation usually overhauls its financial regulations after a stock market crash or the collapse of its banking system. In 1967, France did something rare. Out of pure political expediency, Gaullist leaders and senior civil servants seized the opportunity offered by an insider-trading case and established an independent commission to regulate the securities market: the Commission des Opérations de Bourse...