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Examples abound. The [[JC]], because he is [[sloth|lazy]], is an compulsive ''simplifier''. There is not a [[contract]] in the world, he is fond of saying, that could not be half the length it is. | Examples abound. The [[JC]], because he is [[sloth|lazy]], is an compulsive ''simplifier''. There is not a [[contract]] in the world, he is fond of saying, that could not be half the length it is. | ||
This is hardly a controversy: you will find any practising lawyer to whom you make this observation in violent, general, agreement. So too, the Law Society, any regulatory body you care to mention, and many of the world’s legislators. The [[SEC]] has written an [https://www.sec.gov/ | This is hardly a controversy: you will find any practising lawyer to whom you make this observation in violent, general, agreement. So too, the Law Society, any regulatory body you care to mention, and many of the world’s legislators. The [[SEC]] has written an [https://www.sec.gov/pdf/handbook.pdf impassioned tract] imploring prospectus writers to be brief. The European Commission won’t let you even market securities unless you are [[K.I.I.D.|curt to the point of bluntness]]. | ||
The [[SEC]]’s entreaty has gone entirely unheeded but it is yet to launch enforcement action, so far as we are aware, on grounds of prolixity, overuse of [[capitals]], or haughtiness towards [[New Hampshire|residents of New Hampshire]]. [[K.I.I.D.]]s are a thing — bravo, the European Commission — but they are still issued subject to a two-hundred-and-eighty-page prospectus in order to — no, no; I confess: I have not the first idea why issuers still generate a two-hundred-and-eighty-page prospectus that, as sure as night follows day, not a soul on this barren rock (bar the [[Private practice lawyer|godforsaken soul]] who drafted it) will ever read — if it is not simply to keep their lawyers in nice houses in the home counties. | The [[SEC]]’s entreaty has gone entirely unheeded but it is yet to launch enforcement action, so far as we are aware, on grounds of prolixity, overuse of [[capitals]], or haughtiness towards [[New Hampshire|residents of New Hampshire]]. [[K.I.I.D.]]s are a thing — bravo, the European Commission — but they are still issued subject to a two-hundred-and-eighty-page prospectus in order to — no, no; I confess: I have not the first idea why issuers still generate a two-hundred-and-eighty-page prospectus that, as sure as night follows day, not a soul on this barren rock (bar the [[Private practice lawyer|godforsaken soul]] who drafted it) will ever read — if it is not simply to keep their lawyers in nice houses in the home counties. | ||