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Oil And Gas In America's Arctic Ocean: Past Problems Counsel Precaution, Michael Levine, Peter Van Tuyn, Layla Hughes Nov 2014

Oil And Gas In America's Arctic Ocean: Past Problems Counsel Precaution, Michael Levine, Peter Van Tuyn, Layla Hughes

Seattle University Law Review

This Article provides context for the controversy facing government agencies charged with making decisions about the future of America’s Arctic Ocean. It then distill themes that, if addressed, could help further a lasting solution for this region that respects its natural and human values while crafting a reasonable path forward for decisions about development. First, this Article offers background about the region, the threats facing it, and some of the challenges in managing the natural resources there. Second, it provides an overview of the legal framework through which the United States government makes decisions about whether and under what conditions …


United States Policy And Norwegian Commercial Whaling: A Cooperative Approach, Jamie Nystrom Nov 2014

United States Policy And Norwegian Commercial Whaling: A Cooperative Approach, Jamie Nystrom

Seattle University Law Review

Both the United States and Norway have a long history of commercial whaling, but the mantle of dominance in the whaling world passed from the United States to Norway in the mid-nineteenth century. As demand for whale-based products declined in the United States over the past century, and environmentalism and conservationism became more popular public ideologies, the United States shifted from a pro-whaling nation to, effectively, an anti-whaling nation. Norway, however, has continued to be the only nation that openly engages in commercial whaling for profit, albeit on a smaller scale in comparison to historical practices. The United States’ past …


Financial Innovation In East Asia, Ross P. Buckley, Douglas W. Arner, Michael Panton Mar 2014

Financial Innovation In East Asia, Ross P. Buckley, Douglas W. Arner, Michael Panton

Seattle University Law Review

Finance is important for development. However, the Asian financial crisis of 1997–1998 and the global financial crisis of 2008 highlighted the serious risks associated with financial liberalization and excessive innovation. East Asia’s strong focus on economic growth has necessitated a careful balancing of the benefits of financial liberalization and innovation against the very real risks inherent in financial sector development. This Article examines the role of regulatory, legal, and institutional infrastructure in supporting both financial development and limiting the risk of financial crises. The Article then addresses a series of issues with particular developmental significance in the region: trade finance, …


Culture Wars: Rate Manipulation, Institutional Corruption, And The Lost Normative Foundations Of Market Conduct Regulation, Justin O'Brien Mar 2014

Culture Wars: Rate Manipulation, Institutional Corruption, And The Lost Normative Foundations Of Market Conduct Regulation, Justin O'Brien

Seattle University Law Review

The global investigations into the manipulation of the London Interbank Offered Rate (Libor) have raised significant questions about how conflicts of interest are managed for regulated entities contributing to benchmarks. An alternative framework, which brings the management of the rate process under direct regulatory supervision, is under consideration, coordinated by the International Organization of Securities Commissions taskforce. The articulation of global principles builds on a review commissioned by the British government that suggests rates calculated by submission can be reformed. This paper argues that this approach is predestined to fail, precisely because it ignores the lessons of history. In revisiting …


The Timing And Source Of Regulation, Frank Partnoy Mar 2014

The Timing And Source Of Regulation, Frank Partnoy

Seattle University Law Review

The distinction between specific concrete rules and general abstract principles has engaged legal theorists for decades. This rules–principles distinction has also become increasingly important in corporate and securities law, as well as financial market regulation. This Article adds two important variables to the rules–principles debate: timing and source. Although these two variables are relevant to legal theory generally, the specific goal here is not to address and engage the rules versus principles literature directly. Rather, the goal here is to ask whether the debate about financial market regulation might benefit from a more transparent analysis of temporal and legal source …


Australia’S Experience With Foreign Direct Investment By State Controlled Entities: A Move Towards Xenophobia Or Greater Openness?, Greg Golding Mar 2014

Australia’S Experience With Foreign Direct Investment By State Controlled Entities: A Move Towards Xenophobia Or Greater Openness?, Greg Golding

Seattle University Law Review

Over the last few years, there has been considerable debate in Australia as to the appropriate regulation of foreign direct investment by entities affiliated with foreign governments. During that time, Australia has been a significant beneficiary of investment by sovereign wealth funds from many foreign jurisdictions, particularly by Chinese state owned enterprises. The Australian government, similar to governments of many developed Western countries, has struggled to properly calibrate its policy settings for regulating this type of investment activity. This Article considers the Australian regulatory regime and assesses Australia’s experience in regulating those investment flows during this period.


Deferred Prosecutions In The Corporate Sector: Lessons From Libor, Justin O'Brien, Olivia Dixon Mar 2014

Deferred Prosecutions In The Corporate Sector: Lessons From Libor, Justin O'Brien, Olivia Dixon

Seattle University Law Review

Since 2008, the global economic downturn has significantly in-creased operating pressures on major corporations. Additionally, there has been a corresponding increase in corporate tolerance for corruption, which has coincided with a marked preference by regulators in settling, rather than litigating, enforcement actions. This Article argues that the expansion of prosecutorial authority without appropriate accountability restraints is a major tactical and strategic error. It evaluates whether the mechanism can be made subject to effective oversight. It argues that the current frame-work in the United States is highly problematic, leading to settlements that generate newspaper headlines but not necessarily cultural change. It …


Enhancing The Transparency Dialogue In The “Santiago Principles” For Sovereign Wealth Funds, Adam D. Dixon Mar 2014

Enhancing The Transparency Dialogue In The “Santiago Principles” For Sovereign Wealth Funds, Adam D. Dixon

Seattle University Law Review

The financial crisis ultimately caused Western governments to welcome sovereign wealth fund (SWF) investment as a way to put a floor under collapsing markets and to provide a set of voluntary principles that would underwrite SWFs’ claim to legitimacy in the international community. In the autumn of 2007, then U.S. Treasury Secretary Henry Paulson, in conjunction with the International Monetary Fund, convened the International Working Group of SWFs (IWG) to draft a set of generally accepted principles and practices. These principles are referred to as the “Santiago Principles.” The implicit objective of these twenty-four voluntary principles is to promote greater …


State Capital: Global And Australian Perspectives, George Gilligan, Megan Bowman Mar 2014

State Capital: Global And Australian Perspectives, George Gilligan, Megan Bowman

Seattle University Law Review

The activities of state-related pools of capital need to be understood within the context of an era of globalization, in which economic and political ties between many jurisdictions are deepening, A variety of modes of governance are emerging that have a capacity for impacts of broad international scope. The rising influence of more proactive state-led capitalism is one of the shaping variables in how the global economy has been changing swiftly in recent decades, and the effects of the Global Financial Crisis have arguably accelerated these structural shifts. This Article identifies three discrete phenomena in the state capital arena. First, …


Resolving The Softwood Lumber Dispute, Sarah E. Lysons Jan 2009

Resolving The Softwood Lumber Dispute, Sarah E. Lysons

Seattle University Law Review

This Comment argues that the London Court of International Arbitration will be able to resolve disputes involving softwood lumber but not resolve the softwood lumber dispute. Part II reviews the history of the dispute. Part III discusses the lessons that Canada and the United States have learned about resolving trade disputes, several of which are reflected in the current agreement. Part IV examines why, although the current agreement provides a degree of neutrality and finality to the dispute that prior regimes lacked, inherent political pressures will prove too large for even this agreement. Finally, Part V concludes that the dispute …


The Implications Of National Security Safeguards On The Commercialization Of Remote Sensing Imagery, Youssef Sneifer Jan 1996

The Implications Of National Security Safeguards On The Commercialization Of Remote Sensing Imagery, Youssef Sneifer

Seattle University Law Review

This Comment offers a critique of the national security restrictions contained in the United States policy and regulations and the uncertainty they inject into the commercialization of remote sensing imagery. After providing a brief technical description of remote sensing technology and the market realities associated with remote sensing imagery, this Comment analyzes the legislation and regulations affecting the private sector's commercialization and dissemination of remote sensing imagery with a special emphasis on national security concerns. Specifically, it reviews the Clinton Administration's policy with regard to the commercialization of remote sensing imagery, tracing its origins to the international obligations of the …


Nafta And The Changing Role Of State Government In A Global Economy: Will The Nafta Federal-State Consultation Process Preserve State Sovereignty?, A.J. Tangeman Jan 1996

Nafta And The Changing Role Of State Government In A Global Economy: Will The Nafta Federal-State Consultation Process Preserve State Sovereignty?, A.J. Tangeman

Seattle University Law Review

Both state and federal leaders will need to work together to preserve state sovereignty in the face of challenges posed by trade agreements. Greater federal-state communication will balance the struggle between the federal government's goal in promoting free trade and individual state governments' interests in protecting their sovereignty. Part II of this Comment examines the federalist principles that influence the existing federal-state framework of authority. Part II also discusses the federal government's constitutional authority over state compliance with U.S. trade obligations and whether states have any constitutional or legal authority to demand more autonomy in conducting their trade and commerce. …


Free Trade As An Extremist Ideology: The Case Of Nafta, Robert W. Benson Jan 1994

Free Trade As An Extremist Ideology: The Case Of Nafta, Robert W. Benson

Seattle University Law Review

This article purports that free tradism has become such a classic extremist ideology, just as, until recently, Marxism-Leninism was. Free tradism is fairly described as fitting the two criteria that characterize extremist ideologies: (1) their adherents are oblivious to cognitive dissonance contradicting their analyses, and (2) their adherents are willing to plunge themselves and others into great risks in the name of the ideology. This article adduces evidence in these two categories, using NAFTA as an example, analyzing concrete issues of trade theory, jobs, the environment, human rights, and democracy.


The New Law Of Asset Securitization In Japan, Michael T. Kawachi Jan 1994

The New Law Of Asset Securitization In Japan, Michael T. Kawachi

Seattle University Law Review

This Article discusses one financial product developed in the United States and expected to develop in Japan as a result of recent legislation adopted there. The Article examines the high degree of regulation of this new financial product under that legislation and concludes that such regulation, while common in Japan, will delay the full development of the market in Japan. This Article begins with a description of an important financial tool first developed in the United States, the securitization of financial assets. The Article next examines several aspects of the new Japanese legislation and reviews the provisions of that legislation. …


Human Rights And Most-Favored-Nation Tariff Rates For Products From The People's Republic Of China, Randall Green Jan 1994

Human Rights And Most-Favored-Nation Tariff Rates For Products From The People's Republic Of China, Randall Green

Seattle University Law Review

Because there is an historical link between the economic power possessed by any group of people and the political rights enjoyed by that group, this Article argues that the best way for the United States to promote human rights in China is to assist China's economic development. This argument is supported by logic (e.g., demonstration of cause and effect) as well as by example (e.g., the recent histories of Korea and Taiwan). Part II of this Article takes a detailed look at what MFN status really means and looks at the history of U.S. grants of MFN status to China. …


Preface, Geoffrey R. Watson Jan 1994

Preface, Geoffrey R. Watson

Seattle University Law Review

This issue includes one article from each panel: Professor Clarke's article on whether China should become a member of the GATT, Professor Benson's article on NAFTA as "extremist ideology," Mr. Kawachi's article on securitization in Japan, and Professor Green's article on MFN status for China. In addition, the editors have included a spirited defense of NAFTA by Ms. Rebecca Reynolds Bannister. To set the stage, I offer a few comments on each article below.


Gattmembership For China?, Donald C. Clarke Jan 1994

Gattmembership For China?, Donald C. Clarke

Seattle University Law Review

This Article will explore some of the conflicts between the premises of the GATT and China's current economic, legal, and political structure, as well as the extent to which China's institutions are moving in a GATT-compatible direction. It will conclude that while GATT membership would in itself promote the reforms that would make China's institutions more compatible with the GATT, such reforms are the object of considerable domestic opposition.


The Mexican Market And Nafta, Rebecca Reynolds Bannister Jan 1994

The Mexican Market And Nafta, Rebecca Reynolds Bannister

Seattle University Law Review

In the face of European integration and strategic partnerships in the Pacific Rim, it is vitally important for the United States to strengthen our ties with our North American commercial partners and with the rest of the Western Hemisphere. NAFTA is an historic agreement. It is an ambitious effort to eliminate barriers to agricultural, manufacturing, and services trade, to remove investment restrictions, and to protect intellectual property rights. And, NAFTA is the first agreement in the history of U.S. trade policy that directly addresses envi- ronmental concerns. United States' strategic policy must be focused on that which builds security for …