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Accessory Disloyalty: Comparative Perspectives On Substantial Assistance To Fiduciary Breach, Deborah A. Demott
Accessory Disloyalty: Comparative Perspectives On Substantial Assistance To Fiduciary Breach, Deborah A. Demott
Faculty Scholarship
Culpable participation in a fiduciary's breach of duty is independently wrongful. Much about this contingent form of liability is open to dispute. In the United States, well-established general doctrine defines the elements requisite to establishing accessory liability, which is categorized as a tort and often referred to as "aiding-and abetting" liability. What's controversial is how the tort applies to particular categories of actors, most recently investment banks that advise boards of target companies in M&A transactions. In the United Kingdom, in contrast, accessory liability in connection with a breach of trust or fiduciary duty is controversial because the law is …
The United States, Richard Briffault
The United States, Richard Briffault
Faculty Scholarship
The United States is an example of how three branches of government can stall and derail reform initiatives. The judiciary in particular is central to the US experience with political finance reform, repeatedly striking down legislation on party finance, despite consensus from executive and legislative branches. The most recent Supreme Court ruling, in April 2014, struck down one of the last remaining federal regulations, on the overall campaign contribution limits for individuals. At a subnational level, the United States does, however, see significant variations in terms of regulations on the flow of money into politics at a state level. In …