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Articles 1 - 13 of 13
Full-Text Articles in Law
The Internationalization Of The Securities Markets: Preface To A Symposium, Joel Seligman
The Internationalization Of The Securities Markets: Preface To A Symposium, Joel Seligman
Michigan Journal of International Law
This preface begins by tracing certain of the initial steps taken by the SEC in the internationalization of securities trading. Regulations involving issuers of new securities are discussed in two contexts. First, when foreign private issuers offer securities into the United States, and second, when securities are simultaneously offered in the United States and abroad. The preface concludes by introducing each of the articles in this symposium.
Survey Of Registration And Disclosure Requirements In International Securities Markets, Scott D. Cohen
Survey Of Registration And Disclosure Requirements In International Securities Markets, Scott D. Cohen
Michigan Journal of International Law
This survey of the domestic registration and disclosure requirements in the United Kingdom, the Federal Republic of Germany, France, Australia, Switzerland, the Netherlands, Canada, and Japan provides a topical overview of the institutions, requirements, and procedures involved in securities trading in foreign markets. While the goal of a unified international securities regulation system may represent the best long-term course for an efficient world-wide system of capital markets, the necessity to conform to domestic securities regulations will remain important in the coming years.
Chinese Wall Or Emperor's New Clothes? Regulating Conflicts Of Interest Of Securities Firms In The U.S. And The U.K., Norman S. Poser
Chinese Wall Or Emperor's New Clothes? Regulating Conflicts Of Interest Of Securities Firms In The U.S. And The U.K., Norman S. Poser
Michigan Journal of International Law
This article has two principal theses. The first is that, while Chinese Walls of securities firms are undoubtedly useful in some instances in preventing the flow of confidential information, the evidence that they actually do this is insufficient to justify basing a legal defense on the existence of a wall in a particular firm. In fact, it is difficult to avoid the conclusion that at some firms the Chinese Wall is nothing but a convenient fiction aimed at avoiding liability for market abuses. The article's second thesis is that the isolation of information within a department of a firm which …
The Changing Structure Of The Securities Markets And The Securities Industry: Implications For International Securities Regulation, Aulana L. Peters, Andrew E. Feldman
The Changing Structure Of The Securities Markets And The Securities Industry: Implications For International Securities Regulation, Aulana L. Peters, Andrew E. Feldman
Michigan Journal of International Law
This article addresses the impact internationalization has had on the world's securities markets with a particular focus on its role in forcing change in the structure of those markets. Part I describes the forces involved in the internationalization process, and analyzes capital movement and other phenomena that demonstrate the extent of internationalization. Next, it reviews the structural changes that securities markets and the securities industry have made in response to the internationalization process. Part II analyzes the measures regulators have taken to address the implications of those developments. Part III discusses the October Market Break and how it illustrates the …
Securities Regulation In The International Marketplace: Bilateral And Multilateral Agreements, Daniel L. Goelzer, Anne Sullivan, Robert Mills
Securities Regulation In The International Marketplace: Bilateral And Multilateral Agreements, Daniel L. Goelzer, Anne Sullivan, Robert Mills
Michigan Journal of International Law
This article examines the experience of the SEC in securities regulation with respect to the international securities markets, focusing first as background upon recent developments in those markets, and then on the actual regulation of issuer disclosure, the trading markets, and enforcement in general. In each of the latter three areas, the article will consider the Commission's direct domestic actions in response to international trade, and compare those with international approaches to establish standards in these areas. This comparison demonstrates that international cooperation can, and should, develop new protections and predictable, common themes of regulation, for disclosure, market regulation, and …
The Regulation Of Insider Trading In The United States, United Kingdom, And Japan, Barbara Ann Banoff
The Regulation Of Insider Trading In The United States, United Kingdom, And Japan, Barbara Ann Banoff
Michigan Journal of International Law
Part I of this article will briefly discuss the American laws regulating insider trading; Part II will discuss the law of the United Kingdom; and Part III will discuss the regulation-or, more accurately, the non-regulation-of insider trading in Japan.
Capital Neutrality And Coordinated Supervision: Lessons For International Securities Regulation From The Law Of International Taxation And Banking, Charles Thelen Plambeck
Capital Neutrality And Coordinated Supervision: Lessons For International Securities Regulation From The Law Of International Taxation And Banking, Charles Thelen Plambeck
Michigan Journal of International Law
Part I of this article provides some background on the legal forces which have influenced globalization and internationalization of the world's securities markets. Part II focuses on the international tax law principle of capital neutrality. Fundamentally, the principle of capital neutrality requires that regulations should not unintentionally direct the movement of capital. Part II analyzes the bases and parameters of the principle of capital neutrality, the experiences of international taxation in applying the principle to a globalizing economy, and the possibilities for applying the principle to international securities regulation. Part III focuses on the international banking law principle of coordinated …
Survey Of National Legislation Regulating Insider Trading, Mary J. Houle
Survey Of National Legislation Regulating Insider Trading, Mary J. Houle
Michigan Journal of International Law
In recent years much attention has been focused on the phenomenon of "insider trading." The United States Securities and Exchange Commission (SEC) now appears to have wide-spread public support for its hard-line approach toward insider trading practices. Previously hostile to a broad prohibition of insider trading, even the Supreme Court has lent a sympathetic ear to the pleas of the SEC in the recent Carpenter case, which hinted at support for the misappropriation theory of insider trading. The prevailing attitude is that confidence in the fair operation of the securities markets must not be undermined by insiders who deprive those …
Normative Surrender, Jerome B. Elkind
Normative Surrender, Jerome B. Elkind
Michigan Journal of International Law
It is submitted, at the risk of being accused of idealism, that those who most conspicuously don the mantle of realism are also guilty of normative sloppiness, a form of sloppiness which deserves the name "normative surrender" because it concedes large areas of the law to the will and whim of States. This article will examine the phenomenon of normative surrender and provide some examples of it.
Comparison Of Japanese And American Bankruptcy Law, Brooke Schumm Iii
Comparison Of Japanese And American Bankruptcy Law, Brooke Schumm Iii
Michigan Journal of International Law
The outline and direction of this article are arranged approximately in the order of provisions under the U.S. Bankruptcy Code. The article focuses on Japanese reorganization proceedings, but necessarily discusses Japanese bankruptcy provisions at length. First, eligibility and types of proceedings are discussed. Second, commencement details and administrative provisions, including the "automatic stay" and assumption and rejection of leases and contracts are presented. Third, the debtor's duties and the handling of claims are reviewed. Fourth, liquidations are compared. Fifth, confirmation and reorganization are explored in detail. Last, a comparison of bankruptcy provisions for individuals concludes the article.
Humanitarian Intervention, Daniel Wolf
Humanitarian Intervention, Daniel Wolf
Michigan Journal of International Law
This article argues that humanitarian intervention to prevent the mass slaughter by a state of its own citizens is not only a morally but a legally justifiable act under current norms of international law. The first section of the article discusses the traditional international legal rules concerning the doctrine of humanitarian intervention and their relevance to contemporary law. The second section analyzes the effect of the advent of the United Nations Charter on the legality of humanitarian intervention. Drawing on state practice and the opinion of the international legal community, the third section argues that the emergence of a post-Charter …
Cherobyl: Its Implications For International Aromic Energy Regulation, Diana K. Brown
Cherobyl: Its Implications For International Aromic Energy Regulation, Diana K. Brown
Michigan Journal of International Law
The first section of this note focuses on the IAEA's role in the existing network of international organizations designed to improve nuclear power plant safety. The second section examines the implications of the Chernobyl accident for international cooperation in the nuclear field. The final section proposes several improvements for nuclear safety management, and is subdivided accordingly. The first subsection analyzes the incident reporting systems of the IAEA and the Nuclear Energy Agency and recommends amending the IAEA Convention on Early Notification of a Nuclear Accident to ensure that all nuclear incidents, as well as accidents, are covered by its terms. …
The Law Of Belligerent Occupation And The Legal Status Of The Gaza Strip, Bob Labes
The Law Of Belligerent Occupation And The Legal Status Of The Gaza Strip, Bob Labes
Michigan Journal of International Law
Israel's presence in the Gaza Strip does, in fact, raise many interesting issues in international law, including questions concerning the law of belligerent occupation, and the law of self-determination. This note examines some of these questions. Part I of the Note discusses pertinent aspects of the law of belligerent occupation. It points out that among the features of the traditional concept of belligerent occupation is the existence of an armed conflict between the occupying state and the state whose territory is occupied. Part II examines the history of the Gaza Strip, in an attempt to determine whether it can be …