In my article, Internationalization of Primary Securities Markets, 63 Duke Journal of Law and Contemporary Problems 71 (2000) (Duke Article), I argued that in fully
internationalized securities markets, issuers in public primary markets should be able to issue securities to investors worldwide using one set of optimal distribution procedures, disclosure documents, and subject to one set of liability standards and enforcement remedies. Optimal
standardized issuance (OSI) across borders would reduce the costs of issuance of securities that are in international demand, a benefit which would be shared by both issuers and investors. Also, OSI would result in more perfect competition in the issuance market for such securities (just as in the goods market), and result in a more efficient allocation of capital of worldwide.