Where Law and the Market Meet

From the Spring 2000 issue of Nexus.

When Dean Ron Daniels and then-Dean Paul Halpern of the Joseph L. Rotman School of Management came up with the idea for creating Canada's first academic centre for the study of capital markets, it didn't take them long to identify the Toronto Stock Exchange as the ideal partner for such a venture. While the law school supports the leading capital markets/corporate law group in Canada and the Rotman School provides an education to the business leaders of tomorrow, the Toronto Stock Exchange forms the country's leading centre for capital markets activity. Given the complementary strengths and common interests shared across the three institutions, it seemed obvious that the three form a partnership. The Toronto Stock Exchange agreed and, in 1998, together with the Ontario Research and Development Challenge Fund (ORDCE), founded the University of Toronto Capital Markets Institute at the Faculties of Law and Management.

The institute serves as a forum for the rigorous and principled examination of issues bearing on the regulatory environment governing Canadian capital markets. Its central aim is to provide a forum for key decision-makers from the private and public sectors to meet and explore timely issues in capital markets regulation. In undertaking to satisfy this goal, the institute is also charged with the task of seeking the very best ideas from the international community to include in the discussion.

While enhancing the law school's traditional strength in interdisciplinary scholarship, the institute will allow the Faculty to be at the forefront of research and discussion of the myriad issues affecting Canada's market economy.

At the helm of the institute are the inaugural chair holders for each faculty, Prof. Jeffrey Macintosh of the Faculty of Law, and Prof. Paul Halpern of the Rotman School. Prof. MacIntosh, a graduate of the class of 1981, is Canada's leading corporate and securities law scholar. Among his areas of expertise are corporation law, corporate finance, securities regulation, law and economics, and small firm financing. Prof. Halpern, a leading scholar in finance, is the first director of the centre and has launched the institute with an ambitious plan of activity. This includes research and events on a variety of topics related to capital markets.