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Full-Text Articles in Law
The Three Lives Of The Alien Tort Statute: The Evolving Role Of The Judiciary In U.S. Foreign Relations, Thomas H. Lee
The Three Lives Of The Alien Tort Statute: The Evolving Role Of The Judiciary In U.S. Foreign Relations, Thomas H. Lee
Faculty Scholarship
This Article explains how the Alien Tort Statute (ATS) began in the late eighteenth century as a national security statute that the First Congress and early federal district judges saw as a way to afford damages remedies to British merchants, creditors, and other subjects whose persons or property were injured under circumstances in which treaties or the law of nations assigned responsibility to the United States. Torts committed within the United States by private American citizens were the most likely such circumstances. The ultimate aims of the statute were to avoid renewed war with Great Britain and the other European …
Taking Section 10(B) Seriously: Criminal Enforcement Of Sec Rules, Steve Thel
Taking Section 10(B) Seriously: Criminal Enforcement Of Sec Rules, Steve Thel
Faculty Scholarship
The Supreme Court has determined the scope of federal securities laws in a series of cases in which it has read section 10(b) of the Securities Exchange Act as either prohibiting certain misconduct or authorizing the SEC to regulate that conduct and only that conduct. Judging by the language, structure and history of the Exchange Act, the Court’s reading is wrong. Section 10(b) does not prohibit anything, and it neither grants the SEC rulemaking power nor limits the rulemaking power granted to the SEC elsewhere in the Exchange Act. Instead, section 10(b) simply triggers criminal sanctions for certain rule violations. …