Law Commons^™

When Responsive Legislation Ignores The Forest For The Trees, Matthew G. Curtis

Richmond Journal of Global Law & Business

No abstract provided.

Arab Spring Brings Winds Of Change To The Maghreb And Mena Region: Does That Spell Opportunity For Infrastructure Development And Project Finance?, Silvano Domenico Orsi

Richmond Journal of Global Law & Business

No abstract provided.

After Lehman: International Response To Financial Disputes - A Focus On Hong Kong, Shahla F. Ali, John Koon Wang Kwok

Richmond Journal of Global Law & Business

No abstract provided.

Lawyers Keep Out: Why Attorneys Should Not Participate In Negotiating Critical Financial Numbers Reported By Public Company Clients, William O. Fisher

Law Faculty Publications

In response to the financial scandals at the turn of the century, Sarbanes-Oxley and related reforms radically changed the relationship between accountants and the companies they audit. As a result, auditors exert greater power in the negotiations with management that produce critical numbers in company financial statements. That power provides auditors with newfound ability to resist pressure to certify financial statements that are overly favorable to company stock prices. With the best of intentions, some now urge that company attorneys should expand their efforts to police clients’ financial statements. But the introduction of lawyers into the bargaining between management and …

Stakeholder Theory In Corporate Law: Has It Got What It Takes?, Andrew Keay

Richmond Journal of Global Law & Business

There has been much debate for many years regarding what should be the objective of the large public corporation. This issue is important for a number of reasons, not least of which is that the theory nominated will underpin corporate governance and dictate, to a large extent, the kind of corporate governance system that will exist. As far as the corporation’s objective is concerned, two theories have been dominant: the shareholder primacy theory and the stakeholder theory. The former is operative in what I will call “Anglo-American jurisdictions,” namely jurisdictions that model their law and practice on one or both …

Post-Sox Trends In Delistingsand Deregistration, Samuel Wolff, Clarence D. Long Iv

Richmond Journal of Global Law & Business

No abstract provided.

Corporate Privacy Trend: The “Value” Of Personally Identifiable Information (“Pii”) Equals The “Value” Of Financial Assets, John T. Soma, J. Zachary Courson, John Cadkin

Richmond Journal of Law & Technology

Corporate America’s increasing dependence on the electronic use of personally identifiable information (“PII”) necessitates a reexamination and expansion of the traditional conception of corporate assets. PII is now a commodity that companies trade and sell. As technological development increases, aspects of day-to-day business involving PII are performed electronically in a more cost effective and efficient manner. PII, which companies obtain at little cost, has quantifiable value that is rapidly reaching a level comparable to the value of traditional financial assets.

The Crescent And The Corporation: Analysis And Resolution Of Conflicting Positions Between The Western Corporation And The Islamic Legal System, Craig C. Briess

Richmond Journal of Global Law & Business

No abstract provided.

Finders Sleepers: Why Recent State Regulation Of Financial Intermediaries Should Rouse The Federal Government From Its Slumber, Jeffrey D. Chadwick

Richmond Journal of Law and the Public Interest

This comment argues that the current treatment of financial intermediaries in the capital-raising process is unresponsive to the changing landscape of the small business community. Not only does the SEC inadequately define the permissible role of a finder, recent legislation in Texas and South Dakota foreshadows the ills of a dual regulatory society. Rather than waiting for states to address the finder's dilemma on an ad hoc and inconsistent basis, the federal government should create an SEC-registered class of finders to facilitate capital formation and jumpstart a receding American economy. Part II examines the expanding role of financial intermediaries in …

Outsourcing Of Legal Services: A Brief Survey Of The Practice And The Minimal Impact Of Protectionist Legislation, Lee A. Patterson Iii

Richmond Journal of Global Law & Business

Despite instability in certain parts of the region, the Middle East has emerged as an attractive market for foreign investment.’ This comes at an opportune time for many Middle Eastern countries that are seeking to diversify away from the oil industry and state owned enterprises. Further, the prevalence of young, educated Middle Easterners represents a ready supply of labor for companies seeking to open subsidiaries or branches in the region. Given these assets, many foreign companies are looking at investing in the Middle East as a way to diversify their portfolio and hopefully capture a piece of the market before …

To Capitalize On A Burgeoning Market? Issues To Consider Before Doing Business In The Middle East, Lisa Middlekauff

Richmond Journal of Global Law & Business

Despite instability in certain parts of the region, the Middle East has emerged as an attractive market for foreign investment. This comes at an opportune time for many Middle Eastern countries that are seeking to diversify away from the oil industry and state owned enterprises. Further, the prevalence of young, educated Middle Easterners represents a ready supply of labor for companies seeking to open subsidiaries or branches in the region. Given these assets, many foreign companies are looking at investing in the Middle East as a way to diversify their portfolio and hopefully capture a piece of the market before …

The Meaning Of Share Ownership And The Governance Role Of Shareholder Activism In The United Kingdom, Iris H-Y Chiu

Richmond Journal of Global Law & Business

No abstract provided.

Ubiquitous Money And Walking Banks: Environment, Technology, And Competition In Mobile Banking, Jongho Kim

Richmond Journal of Global Law & Business

No abstract provided.

Digital Currencies And The Financing Of Terrorism, William Hett

Richmond Journal of Law & Technology

Informal money transfers present a significant challenge to combating the financing of terrorist organizations worldwide. Although the U.S. and other governments have implemented measures to restrict terrorist financing, these measures were designed to regulate formal financial institutions. Accordingly, those seeking to avoid detection have turned to other methods of transferring money, such as commodities trades, hawala, and digital currencies. Many terrorist operations do not require large sums of money, making the detection and prevention of even modest transfers important. For example, the September 11 Commission estimated the cost of carrying out the 1998 U.S. embassy bombings, which killed 224 people …

Finders Sleepers: Why Recent State Regulation Of Financial Intermediaries Should Rouse The Federal Government From Its Slumber, Jeffrey D. Chadwick

Richmond Public Interest Law Review

This comment argues that the current treatment of financial intermediaries in the capital-raising process is unresponsive to the changing landscape of the small business community. Not only does the SEC inadequately define the permissible role of a finder, recent legislation in Texas and South Dakota foreshadows the ills of a dual regulatory society. Rather than waiting for states to address the finder's dilemma on an ad hoc and inconsistent basis, the federal government should create an SEC-registered class of finders to facilitate capital formation and jumpstart a receding American economy. Part II examines the expanding role of financial intermediaries in …

Asset-Backed Securitization In China, Yuwa Wei

Richmond Journal of Global Law & Business

No abstract provided.

Just What The Doctor Ordered: Is It Time For Your Bank To Start Offering A Health Savings Account (Hsa)? Here's What You Need To Know About This New Product, Rachel Juhas Suddarth

Law Faculty Publications

In recent years. The ever-increasing cost of health insurance has left many consumers and employers desperate for lower-cost coverage options. As a result, employers are moving away from expensive defined-benefit plans to alternatives that offer higher deductibles in exchange for a reduction in premium costs. The health savings account (HSA) grew out of this quest for choice. The HSA was designed as a tax-efficient way for consumers with high-deductible plans to pay for health costs accrued before the insurance kicked in. These high-deductible plans are touted as being more affordable for both employers and consumers as well as for having …

Sarbanes-Oxley And The Inch-Thick Contract, Colin P.A. Jones

Richmond Journal of Global Law & Business

No abstract provided.

After The Argentine Crisis: Can The Imf Prevent Corruption In Its Lending? A Model Approach, Juan Carlos Linares

Richmond Journal of Global Law & Business

No abstract provided.

Efficacy Of The Institutional And Regulatory Framework For The Administration Of Tax Law In Zambia, Kenneth Kaoma Mwenda

Richmond Journal of Global Law & Business

No abstract provided.

Rebuilding Accountability In The Boardroom, Stephen M. Davis

Richmond Journal of Global Law & Business

No abstract provided.

Corporate Responsibility And The Regulation Of Corporate Lawyers, James M. Mccauley

Richmond Journal of Global Law & Business

On July 30, 2002, in an effort to demonstrate to the American public a resolve to crack down on corporate scandals such as Enron, Adelphia, WorldCom, and Global Crossing, President Bush signed into law the “Sarbanes-Oxley Act of 2002”. Proclaiming that the new law will restore investor confidence, reform the oversight of public accounting and increase the transparency of corporate financial statements…

Building A Strong Subnational Debt Market, Paul S. Maco

Richmond Journal of Global Law & Business

Decentralization of responsibility for finance and growing infrastructure needs are two trends that are expected to stimulate a growth in government borrowing at the sub-national level. Statistics for the first half of 2000 show a significant increase in sub-national debt volume, with global public finance, excluding Canada and the United States, more than doubling that of the first half of 1999.

My Reputation Always Had More Fun Than Me: The Failure Of Ebay's Feedback Model To Effectively Prevent Online Auction Fraud, Mary M. Calkins

Richmond Journal of Law & Technology

Online auctions for goods are currently a popular and lucrative form of e-commerce, but present special problems of trust and fraud prevention, because most deals involve buyers and sellers who do not know each other and are separated by distance. Online auctions for goods have been largely unregulated by formal laws. For that reason, trust-building and fraud prevention have primarily been accomplished through creative private regulatory models implemented by the auction houses themselves. This Comment examines one popular model, a registration and feedback system pioneered by the leading online auction company, eBay. Under this system, a user builds a public …

The Misappropriation Theory Under The Chinese Securities Law - A Comparative Study With Its U.S. Counterpart, Wenyan Ma

Richmond Journal of Global Law & Business

The first stock exchange in China, the Shanghai Stock Exchange, opened n December 1990. Since then, China’s securities market has been a journey of unprecedented development. However, the fledgling securities market is troubled by rampant securities fraud, evidence by Chinese officials’ open admission that investment in China’s securities market is very risky because of fraud and corruption. After a tortuous six-year drafting process, on December 29, 1998, the Chinese parliament passed the country’s first national Securities Law (“the Chinese Securities Law”), hoping to regulate the overwhelming fraud and corruption in China’s securities market. The Chinese Securities Law devoted one entire …

E-Business, E-Commerce & The Law, John F. Rudin

Richmond Journal of Law & Technology

Advocates argue that UCITA (Uniform Computer Information Transactions Act) provides rules of the road for the technology highway much like the Uniform Commercial Code (UCC) has done with our commerce system for several decades. However, the UCC provides a level playing field where businesses and customers are aware of the rules prior to conducting business. Among its many shortcomings, UCITA lacks the notice and disclosure features of the UCC. A simple double click of a mouse with the cursor on an icon that reads "I accept" binds the customer to a contract that has not been reviewed prior to purchase. …

Emu And The Role Of The National Central Banks In The Eurosystem, J. Alfred Broaddus Jr.

Richmond Journal of Global Law & Business

J. Alfred Broaddus, Jr.'s comments at Davidson regarding the EMU and the role of the National Central Banks in the Eurosystem.

The De Minimis Exemption Of Stored Value Cards From Regulation E: An Invitation To Fraud., Sean M. O'Connor

Richmond Journal of Law & Technology

How valuable is $100? To a student? To a single unemployed parent? To a well-compensated professional? The Federal Reserve Board apparently believes that the potential loss of $100 is not a tremendous burden on anyone. In a recently proposed rule, the Board exempts stored value cards that contain less than $100 from the same regulations that protect consumers from most types of fraud associated with ATM, debit, and credit cards. Regulation E (Reg E) currently regulates the electronic funds transfers (EFTs) that are at the heart of ATM/debit/credit card transactions by requiring printed receipts, error resolution procedures, periodic statements, initial …

The American Corporation In The Twenty-First Century, Marleen A. O'Connor, George Triantis, Mark Roe, Ronald J. Gilson, Jeffrey N. Gordon

University of Richmond Law Review Symposium

"Opportunistic Downsizing of Senior Workers: Exploring the Fiduciary/Contract Distinction to Enforce Implicit Employment Agreements" lecture given by Marleen A. O'Connor, Professor of Law at Stetson College.

"The Motivational Implications of Debt Financing" lecture given by George Triantis, Nicholas E. Chimicles Research Professor of Business Law and Regulation at the University of Virginia and the Director of the John M. Olin Program in Law and Economics.

"Political Backlash and the Corporation" lecture given by Mark Roe, Professor of Law at Columbia University and Director of the Columbia Law School Sloan Project on Corporate Governance.

"Venture Capital and the Structure of Capital …

It's Not Love, But It's Not Bad: A Response To Critics Of Prepaid College Tuition Plans, J. Timothy Philipps, Ed R. Haden

University of Richmond Law Review

Two years ago one of the authors published an article surveying the tax ramifications of prepaid college tuition plans, with a focus on the Michigan plan - the Michigan Education Trust ("MET"). That article took a generally positive view of such plans in general and of MET in particular. It discussed three basic themes: 1) the uncertainty of existing tax law with respect to prepaid tuition plans requires clarifying congressional legislation; 2) the position of the Internal Revenue Service ("Service") with respect to prepaid tuition plans, as enunciated in a private letter ruling addressed to MET, is flawed; and 3) …