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Full-Text Articles in Law

Proceed With Caution: The Implications Of The Omb Peer Review Guidelines On Precautionary Legislation, Maureen Mahon Jan 2006

Proceed With Caution: The Implications Of The Omb Peer Review Guidelines On Precautionary Legislation, Maureen Mahon

Washington University Law Review

No abstract provided.


In Defense Of Regulatory Peer Review, J. B. Ruhl, James Salzman Jan 2006

In Defense Of Regulatory Peer Review, J. B. Ruhl, James Salzman

Washington University Law Review

Largely overlooked, but pertinent to the question of what role peer review could play, is the potential that agencies might misuse perfectly credible science, or so-called “good science,” by overstating the extent to which it supports their policy and regulatory decisions. No study has ever demonstrated whether use of regulatory peer review would have detected other instances, like the Klamath, in which the concern is that the agency has stretched credible science too far in an effort to justify its policy decision, or whether the benefits of detecting those instances would have justified the costs of the peer review programs ...


Wall Street Scandals: The Curative Effects Of Law And Finance, William G. Christie, Robert B. Thompson Jan 2006

Wall Street Scandals: The Curative Effects Of Law And Finance, William G. Christie, Robert B. Thompson

Washington University Law Review

This Article studies three scandals that embroiled U.S. financial markets during the past decade or so, including the Nasdaq market-makers' use only of odd-eighths quotes, the abuse of specialist power on the New York Stock Exchange, and the mutual fund scandal. We attempt to attribute the resolution of these situations to the curative effects of markets versus regulation. We argue that the intervention of the legal system through regulation and/or litigation is often necessary to help resolve the misalignment of incentives needed for markets to accomplish their goal of maximizing value. The Article suggests that there exists an ...


The Sec As A Lawmaker: Choices About Investor Protection In The Face Of Uncertainty, Donald C. Langevoort Jan 2006

The Sec As A Lawmaker: Choices About Investor Protection In The Face Of Uncertainty, Donald C. Langevoort

Washington University Law Review

A problem that has dominated much of recent corporate legal scholarship is one of political economy: what drives (and constrains) the production of corporate law? As used here, “corporate law” refers to the body of regulation dealing with the allocation of power, rights, and
responsibilities relating to management and control of the corporation—a rough description that includes many of the disclosure-related demands of federal securities regulation. My paper will look at the portion of corporate-securities law that is produced by the Securities and Exchange Commission (SEC). Put simply, what drives and constrains the SEC as a
federal corporate lawmaker?