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Repurchase Agreement Transactions In Securities Investor Protection Act Proceedings, Michael D. Bolton
Repurchase Agreement Transactions In Securities Investor Protection Act Proceedings, Michael D. Bolton
Fordham Urban Law Journal
Addresses the treatment of Repurchase Agreements (REPOS) in bankruptcy proceedings before and after the Bankruptcy Reform Act of 1984. Examines the treatment of REPOs as both sales and loans, and concludes that courts should treat REPO transactions as contracts for a sale and subsequent repurchase, in order to insure market stability, protect consumers, and maximize assets. The author further concludes that administering trustees should not be able to classify REPOs as loans, then refuse to protect the owners of securities underlying the REPOs as customers.
Closing A Loophole: Insider Trading In Standardized Options, Steve Thel
Closing A Loophole: Insider Trading In Standardized Options, Steve Thel
Fordham Urban Law Journal
This article is a Commentary on a previous Note published in the Fordham Urban Law Journal (Note, Insiders, Options and the Fiduciary Principle: A Rule 10b-5 Loophole, 16 Fordham Urb. L.J. 295 (1988)). The Note argued that the Supreme Court has expressly endorsed only one theory of insider trading liability, in Chiarella v. United States. By the simple expedient of trading options on common stock rather than the common stock itself, an insider can escape Rule 10b-5 liability under Chiarella.