Law Commons^™

Do Esg Funds Deliver On Their Promises?, Quinn Curtis, Jill E. Fisch, Adriana Z. Robertson

All Faculty Scholarship

Corporations have received growing criticism for their role in climate change, perpetuating racial and gender inequality, and other pressing social issues. In response to these concerns, shareholders are increasingly focusing on environmental, social, and corporate governance (ESG) criteria in selecting investments, and asset managers are responding by offering a growing number of ESG mutual funds. The flow of assets into ESG is one of the most dramatic trends in asset management.

But are these funds giving investors what they promise? This question has attracted the attention of regulators, with the Department of Labor and the Securities and Exchange Commission (SEC) …

Broker-Dealers And Investment Advisers: A Behaviorial-Economics Analysis Of Competing Suggestions For Reform, Polina Demina

Michigan Law Review

For the average investor trying to save for retirement or a child’s college fund, the world of investing has become increasingly complex. These retail investors must turn more frequently to financial intermediaries, such as broker-dealers and investment advisers, to get sound investment advice. Such intermediaries perform different duties for their clients, however. The investment adviser owes his client a fiduciary duty of care and therefore must provide financial advice that is in the client’s best interests, while the broker-dealer must merely provide advice that is suitable to the client’s interests—a lower standard than the fiduciary duty of care. And yet …

Proposed Amendments To The Welfare And Pension Plans Disclosure Act, Stephen E. Dawson

University of Michigan Journal of Law Reform

Proposals to regulate private pension and deferred profit-sharing plans are by no means new to Congress. With the rapid growth in size, number and complexity of such plans in the late 1940's and early 1950's, Congress began to give increasingly close attention to their defects and, particularly, to their mismanagement. The first congressional attempt to reduce the instances of private pension plan mismanagement occurred in 1958 when Congress enacted the Welfare and Pension Plans Disclosure Act. The Act was amended once in 1962, and further proposed amendments are presently before the Congress. This note will examine two of the proposed …