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Protecting Mutual Fund Investors: An Inevitable Eclecticism, Lyman P. Q. Johnson
Protecting Mutual Fund Investors: An Inevitable Eclecticism, Lyman P. Q. Johnson
Lyman P. Q. Johnson
After 75 years of experience with the Investment Company Act, improving investor protection remains an ongoing, multi-faceted, and frustratingly elusive endeavor. Certain regulatory approaches have been more - or less - emphasized over the years, but today we still lack an agreed-upon singular “silver bullet” for assuring investor protection and must, of necessity, pursue an ever-evolving, eclectic approach to that central policy goal.
This chapter describes the various approaches taken to investor protection since 1940 and argues that moving on many, admittedly imperfect, fronts is the best regulatory strategy today and probably the only politically viable one in …
Relating Fiduciary Duties To Corporate Personhood And Corporate Purpose, Lyman P. Q. Johnson
Relating Fiduciary Duties To Corporate Personhood And Corporate Purpose, Lyman P. Q. Johnson
Lyman P. Q. Johnson
The subjects of corporate personhood, corporate purpose, and fiduciary duties are all central to corporate law discourse. But what is the relationship of each of these to the others? This chapter describes how corporate personhood, corporate purpose, and fiduciary duties are vitally and coherently connected. While longstanding debates about the theoretical nature of corporateness likely will continue, corporations are meaningful socio-legal entities separate and distinct from those persons associated with them. With respect to corporate purpose, the objective or “mission” of a business company is to provide goods or services in a particular manner, goals that may in part be …