Until very recently, corporate law and financial regulation served as prominent examples of federalism and state competition. Both regimes, however, have now come under assault. The Sarbanes-Oxley Act and regulatory initiatives by the Securities and Exchange Commission threaten to eviscerate, and perhaps to dismantle, corporations' and shareholders' choice of state charters. Similarly, proposed federal interventions on "predatory" lending would greatly expand financial market regulation, while further limiting state control over the lending practices of state-chartered financial institutions.

Is competitive federalism dead? Two panels of distinguished experts will discuss the causes, scope, and likely consequences of increased federal regulation.