Paul Leder will speak at the World Federation of Exchanges Virtual Annual Meeting on September 8, 2021. Leder will speak on a panel titled, "Private vs Public Securities Markets: Time to Improve Governance."

The difference in disclosure standards between private and public markets is vast, little studied, and one of the major deterrents to companies that want to go public, alongside the cost of compliance, accountability, and public scrutiny. If standards of disclosure and governance improved in private markets, market standards overall would greatly improve, and overall market functioning and effectiveness would be significantly better. This panel discussion will address questions including:

• As private and public markets continue to be complementary, what kind of standards do we need to improve the integrity of the former?
• What lessons can public markets offer?
• What policy levers are needed?
• How can the two work in tandem to improve governance?
• How can we democratize access to private capital such as private equity and venture capital?