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Full-Text Articles in Banking and Finance Law
An Essay On Pluralism In Financial Market Infrastructure Design: The Case Of Securities Holding In The United States, Charles W. Mooney Jr.
An Essay On Pluralism In Financial Market Infrastructure Design: The Case Of Securities Holding In The United States, Charles W. Mooney Jr.
All Faculty Scholarship
This essay will appear as a chapter in a forthcoming edited volume published by Oxford University Press. It builds on the earlier article, Beyond Intermediation: A New (FinTech) Model for Securities Holding Infrastructures, 22 U. Pa. J. Bus. L. 386 (2020), which argues that serious consideration should be given to modifications of the deeply intermediated securities holding systems in the United States and elsewhere. Many of the costs and risks imposed by the intermediated holding systems fall within the domain of the regulation of securities markets (internal costs), such as impairments of shareholder voting and bondholder claims against issuers. …
Why Do Good People Do Bad Things? A Multi-Level Analysis Of Individual, Organizational, And Structural Causes Of White-Collar Crime, Dr. Joe Mcgrath
Why Do Good People Do Bad Things? A Multi-Level Analysis Of Individual, Organizational, And Structural Causes Of White-Collar Crime, Dr. Joe Mcgrath
Seattle University Law Review
This Article draws on the Securities and Exchange Commission’s (SEC) complaint against Serageldin, the transcript for his plea hearing, and the transcript for his sentencing hearing. The SEC’s complaint provides a prosecutorial account of the fraud. It also includes actual extracts from Serageldin’s recorded phone calls at Credit Suisse which provide a realtime narrative of the fraud. The court transcripts detail Serageldin’s own account of the fraud and give a biographical account of Serageldin’s life, provided by his mother, who offered character evidence on his behalf. These perspectives allowed for the recasting of the SEC’s account of the fraud and …
Beyond Intermediation: A New (Fintech) Model For Securities Holding Infrastructures, Charles W. Mooney Jr.
Beyond Intermediation: A New (Fintech) Model For Securities Holding Infrastructures, Charles W. Mooney Jr.
All Faculty Scholarship
Publicly traded securities generally are held by investors in securities accounts with intermediaries such as stockbrokers and central securities depositories—intermediated securities. For many investors this is the only practical means of holding and dealing with securities. These intermediated holding systems (IHSs) impose a variety of risks and costs. Investors are exposed to intermediary risk (default or insolvency of an intermediary holding securities) as well as impediments to the exercise of rights such as voting and asserting claims against securities issuers. The nontransparency of IHSs imposes other social costs, such as obstacles to anti-money laundering enforcement. The emergence of FinTech and …