Those who advocate leaving globalization exclusively in the hands of the private sector may resent the idea of vesting tax raising authority in a global agency.

For example, regulatory standards could require equity based plans to preclude managers from cashing out awarded shares and options during a certain minimum period after vesting.

Countries with more advanced financial infrastructure have reformed traditional institutional arrangements to develop and supervise bond markets more effectively, for instance, by vesting authority in independent securities commissions.

In such a case, firms could still remain free to choose the number of shares and options awarded to any given manager, as well as to adjust somewhat the length of the post vesting period during which cashing out would be precluded.

As far as equity based compensation is concerned, executives should not be allowed to cash out options and shares given to them for a period of, say, five years after the time of vesting that is, the point at which the options and shares have been earned and may not be taken away from the executive.