On October 2, 2025 we continued the ICGE Speaker Series with Daniel Taylor of The Wharton School. Daniel presented “Closing Loopholes in SEC Disclosure Rules for Foreign Companies” and ICGE Faculty Affiliate, Joe Schroeder, moderated.
Professor Taylor delivered a compelling discussion on how gaps in U.S. disclosure requirements affect foreign firms listed on American exchanges, sharing empirical evidence on the ways these loopholes can impact U.S. investors.
+ Closing Loopholes in SEC Disclosure Rules for Foreign Companies
Professor Taylor discusses loopholes in SEC disclosure rules as they relate to foreign companies listed in US exchanges and shares empirical evidence in how those loopholes are being used to expropriate capital from US investors.
Daniel Taylor is the Arthur Andersen Chaired Professor at The Wharton School, and director of the Wharton Forensic Analytics Lab. He is one of the most influential and well-respected experts on forensic economics and insider trading. He has published dozens of papers on these topics in major peer-reviewed scientific journals; served on the editorial board of several such journals; led seminars at dozens of top business schools across the globe; and won numerous academic and industry awards.
Professor Taylor’s research is particularly relevant for practitioners working at the intersection of law and economics, and it has shaped the laws that govern US capital markets. For example, his research has been repeatedly cited in federal courts, influenced several rules issued by the U.S. Securities and Exchange Commission (SEC), and guided numerous law enforcement investigations. Most recently, his research spurred the SEC to amend regulations related to Rule 10b5-1 trading plans, require disclosure of corporate insider trading policies, and modernize the reporting requirements for insider stock ownership on SEC Forms 4 and 144.
Beyond academia, Prof. Taylor serves as a consultant to the Department of Justice (DOJ), where he has participated in dozens of investigations alongside US law enforcement personnel and led annual training sessions on data-driven enforcement. He is often asked to serve as an independent expert in high stakes litigation on topics related to statistical analysis of stock price and trading data, 10b5-1 plans, share tracing, executive compensation, and the calculation of economic damages. His consulting clients include a Big 4 auditor and a variety of plaintiff and defense firms.
At Wharton, Professor Taylor teaches a cutting-edge undergraduate course––Forensic Analytics––that applies state-of-the-art analytic tools for market surveillance, and he teaches a doctoral seminar on data analysis and event studies. His doctoral students have gone on to become faculty at a variety of leading business schools, including Chicago, MIT, Northwestern, and Stanford.
He received his bachelor’s degree from the University of Delaware, his master’s from Duke University, and his PhD from Stanford University.