Securities Regulation and Freedom of the Press: Toward a Marketplace of Ideas in the Marketplace of Investment

Authors

Donald E. Lively

Abstract

Federal regulation of securities traditionally, and almost unquestioningly, has included regulation of the press. Central to governance of the investment marketplace are systems of prior restraint and mandatory disclosure premised upon investor protection but antithetical to first amendment principles. The constitutionality of those systems largely has been uncontested. Since commercial speech has emerged as a protected form of expression, however, it is fitting to assess the compatibility of securities regulation with the first amendment.

First Page

843

Recommended Citation

Donald E. Lively, Securities Regulation and Freedom of the Press: Toward a Marketplace of Ideas in the Marketplace of Investment, 60 Wash. L. Rev. 843 (1985).
Available at: https://digitalcommons.law.uw.edu/wlr/vol60/iss4/13