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Articles 1 - 21 of 21
Full-Text Articles in Law
Investing And Pretending, Anita Krug
Investing And Pretending, Anita Krug
All Faculty Scholarship
One of the more prominent components of Dodd–Frank’s regulatory changes was Title VII, providing for the regulation of the over-the-counter derivatives known as “swaps.” A swap is a financial instrument whose value is based on an asset—the “reference asset”—that is wholly unrelated to the swap itself. Although there was much ado about swap regulation immediately after Dodd–Frank’s enactment, the same cannot be said of the many rules that the Commodity Futures Trading Commission (“CFTC”) has subsequently adopted pursuant to its authority under Title VII. This Article critically evaluates the CFTC’s “swap rules” and identifies the regulatory vision that they reflect. …
Downstream Securities Regulation, Anita Krug
Downstream Securities Regulation, Anita Krug
All Faculty Scholarship
Securities regulation wears two hats. Its “upstream” side governs firms in connection with their obtaining financing in the securities markets. That is, it regulates firms’ and issuers’ offers and sales of securities, whether in public offerings to retail investors or in private offerings to institutional investors. Its “downstream” side, by contrast, governs financial services providers, who assist with investors’ activities in those markets. Their services include providing advice regarding securities investments, as investment advisers do; aggregating investors’ assets for purposes of enabling those investors to invest their assets collectively, as mutual funds do; and acting as “middlemen” between buyers and …
Reinventing The Development Wheel Of The World Trading System (Reviewing Sonia E. Rolland, Development At The World Trade Organization (2012)), Sungjoon Cho
All Faculty Scholarship
In probing how WTO norms may affect developing countries, Sonia Rolland introduces two paradigms in this book: development as an idiosyncrasy and development as a normative co-constituent to trade. The first paradigm concerns development-related exceptions and carve-outs found within WTO rules and agreements that exemplify a contingent provision of special favors to developing countries. Overall, it represents a limited mandate on development in the WTO. In contrast, the second paradigm embodies a normative operationalization of development agenda within the WTO system. It normatively reconstructs WTO rules and institutions in a way where development is a core mandate of the WTO, …
Regionalization, Development And Competition Law: Exploring The Political Dimension, David J. Gerber
Regionalization, Development And Competition Law: Exploring The Political Dimension, David J. Gerber
All Faculty Scholarship
In discussions of the regionalization of competition law, the political dimension often leads a shadowy existence. Regionalization tends to be presented with a hint of a halo around it. States are presented as acting for a shared policy objective intended to benefit all, and political issues often sit uncomfortably with that image. This is particularly true when regionalization involves ‘developing countries’. Here there is often a further level of ‘common good’ discourse. Regionalization is here portrayed not only as a communal experience and goal, but also as one designed to reduce poverty and aid economic development. Where regionalization involves competition …
Institutionalization, Investment Adviser Regulation, And The Hedge Fund Problem, Anita Krug
Institutionalization, Investment Adviser Regulation, And The Hedge Fund Problem, Anita Krug
All Faculty Scholarship
This Article contends that more effective regulation of investment advisers could be achieved by recognizing that the growth of hedge funds, private equity funds, and other private funds in recent decades is a manifestation of institutionalization in the investment advisory context. That is, investment advisers today commonly advise these “institutions,” which have supplanted other, smaller investors as advisory clients. However, the federal securities statute governing investment advisers, the Investment Advisers Act of 1940, does not address the role of private funds as institutions that now intermediate those smaller investors’ relationships to investment advisers. Consistent with that failure, investment adviser regulation …
Private Fund Adviser Registration Act Hr-3818, Anita Krug
Private Fund Adviser Registration Act Hr-3818, Anita Krug
All Faculty Scholarship
This paper comments on the Obama administration's 2009 proposal for the regulation of hedge fund investment advisers.
Financial Regulatory Reform And Private Funds, Anita Krug
Financial Regulatory Reform And Private Funds, Anita Krug
All Faculty Scholarship
This white paper comments on the Obama administration's June 2009 proposal for the regulation of hedge fund investment advisers.
The Regulatory Response To Madoff, Anita Krug
The Regulatory Response To Madoff, Anita Krug
All Faculty Scholarship
This white paper evaluates investor protection mechanisms in the securities regulatory regime at the time the Madoff fraud was exposed. It considers whether the post-Madoff call for additional regulation of hedge funds and/or their managers - and/or their respective activities - was warranted.
The Hedge Fund Transparency Act Of 2009, Anita Krug
The Hedge Fund Transparency Act Of 2009, Anita Krug
All Faculty Scholarship
This white paper provides a review and critique of a bill introduced by Senators Charles Grassley (R-Iowa) and Carl Levin (D-Mich.) in the Senate in early 2009 that, if enacted, would have imposed certain registration and disclosure requirements on hedge funds and certain other private funds.
Economics, Law And Institutions: The Shaping Of Chinese Competition Law, David J. Gerber
Economics, Law And Institutions: The Shaping Of Chinese Competition Law, David J. Gerber
All Faculty Scholarship
China has been considering enactment of an anti-monopoly (antitrust) law since 1993, and it has now enacted such a law. Given the potential importance of this legislation, there is much uncertainty about what the enactment means and what roles it is likely to play in influencing the development of the Chinese economy. This article applies a neo-institutionalist analysis in examining some of the factors that have influenced the shaping of the legislation and that are likely to influence the operation of competition law and its organizations. The main argument is that the central dynamic in both the creation of the …
Competition Law And The Wto: Rethinking The Relationship, David J. Gerber
Competition Law And The Wto: Rethinking The Relationship, David J. Gerber
All Faculty Scholarship
This essay identifies obstacles to the inclusion of a competition law regime in the WTO and suggests changes that are likely to be necessary if competition law is to become an effective part of the WTO. Two obstacles have impeded inclusion of competition law in the WTO's legal regime and are likely to continue to do so. They are (i) a lack of confidence that the norms, practices and procedures of the WTO rest on a robust conception of community and (ii) uncertainty and concern about what form of competition law might be included and what its role in the …
The Wto’S Gemeinschaft, Sungjoon Cho
The Wto’S Gemeinschaft, Sungjoon Cho
All Faculty Scholarship
This Article focuses on the current development-related problems in the global trading system. A widening income gap and widespread poverty among trading nations denote the WTO’s Gesellschaftian nature—interest and power—resulting in structural distortion and manipulation. This Article maintains that the global trading system can achieve its development agenda and become fair and legitimate only through a critical paradigmatic transformation enabled by the configuration of the “WTO’s Gemeinschaft.” This Article observes that a fundamental legal precept, the “Law of Nations” (jus gentium), plays a critical role in actualizing this communitarian telos. Part II redefines the global trading system through the theoretical …
Prescriptive Authority: Global Markets As A Challenge To National Regulatory System, David J. Gerber
Prescriptive Authority: Global Markets As A Challenge To National Regulatory System, David J. Gerber
All Faculty Scholarship
No abstract provided.
Afterword: Antitrust And American Business Abroad Revisited, David J. Gerber
Afterword: Antitrust And American Business Abroad Revisited, David J. Gerber
All Faculty Scholarship
No abstract provided.
Charities In Tax Reform: Threats To Subsidies Overt And Covert, Evelyn Brody
Charities In Tax Reform: Threats To Subsidies Overt And Covert, Evelyn Brody
Evelyn Brody
Fundamental tax reform would do far more damage to charities than the obvious repeal of the deduction for charitable contributions. Over the decades, charities have quietly garnered billions of dollars worth of indirect benefits. For example, the largest tax expenditure - the exclusion from workers' income of employer-provided health insurance - has fattened nonprofit hospitals, and the new tuition tax credits promise to spur tuition inflation. Tax reform presents an opportunity to eliminate tax subsidies and enact any desired direct expenditures for specific public goods and activities. However, converting tax expenditures to direct outlays would likely take the form of …
Europe And The Globalization Of Antitrust Law, David J. Gerber
Europe And The Globalization Of Antitrust Law, David J. Gerber
All Faculty Scholarship
No abstract provided.
Global Technological Integration, Intellectual Property Rights, And Competition Law: Some Introductory Comments, David J. Gerber
Global Technological Integration, Intellectual Property Rights, And Competition Law: Some Introductory Comments, David J. Gerber
All Faculty Scholarship
No abstract provided.
International Trade And Competition Law In Japan, David J. Gerber
International Trade And Competition Law In Japan, David J. Gerber
All Faculty Scholarship
No abstract provided.
Competition Law And International Trade: The European Union And The Neo-Liberal Factor, David J. Gerber
Competition Law And International Trade: The European Union And The Neo-Liberal Factor, David J. Gerber
All Faculty Scholarship
No abstract provided.
Constitutionalizing The Economy: German Neo-Liberalism, Competition Law And The "New" Europe, David J. Gerber
Constitutionalizing The Economy: German Neo-Liberalism, Competition Law And The "New" Europe, David J. Gerber
All Faculty Scholarship
No abstract provided.
Antitrust And The Challenge Of Internationalization, David J. Gerber
Antitrust And The Challenge Of Internationalization, David J. Gerber
All Faculty Scholarship
No abstract provided.