The United States introduced federal securities regulation by adopting the Disclosure-Based Regulation (DBR) in 1933 resembling the doctrine of caveat venditor (DCV) as a substitute for the doctrine of caveat emptor (DCE) in the securities market. The overarching objective of the DBR was to protect investors by enabling them to make ‘informed decisions’. Although the change aimed to protect investors, the causes of the GFC suggest that the DCV exists only in theory, while issuers of securities are still enjoying the benefits of the DCE in practice. Financial innovations that intend to camouflage the risks inherent in the complex derivative products should be strictly regulated through a merit regulation which should be applied to only public offers, and the DBR should still remain in force for other securities. It concludes that the DBR has now emerged as more a ‘Pandora’s box’ than a panacea.
Food adulteration in Bangladesh is rampant and an increasingly serious concern for its residents. Several studies including those of the Directorate General of Health Services reveal that hundreds of people are getting killed every year eating adulterated foodstuffs and no one seems to have any real concern about such a life-threatening wrongful act. Food adulteration is criminally prohibited, but the wrongdoers care little about this proscription simply because of the continued apathy of the governmental agencies concerned and implicit acceptance or insensible ignorance of consumers. However, the current fragmented legal and regulatory regime for food safety in Bangladesh falls short of international standards. This article demonstrates that the Government of Bangladesh is obliged to prevent food adulteration and to punish perpetrators under its international as well as constitutional obligations. It is also submitted that effective regulation of such an endemic malfeasance entails weakening the offenders by adopting international standards and educating the consumers at the same time.