Securities Law Commons^™

Substitutes For Insider Trading, Ian Ayres, Joseph Bankman

Ian Ayres

When insider trading prohibitions limit the ability of insiders (or of a corporation itself) to use material non-public information to trade a particular firm’s stock, there may be incentive to use the information to trade instead on the stock of that firm’s rivals, suppliers, customers, or the manufacturers of complementary products. We refer to this form of trading as trading in stock substitutes. Stock substitute trading by a firm is legal. In many circumstance, substitute trading by employees is also legal. Trading in stock substitutes may be quite profitable, and there is anecdotal evidence that employees often engage in such …

La Cesión De Derechos En El Código Civil Peruano, Edward Ivan Cueva

Edward Ivan Cueva

La Cesión de Derechos en el Código Civil Peruano

Segundo Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García

Bruno L. Costantini García

Memorias del Segundo Congreso Nacional de Organismos Públicos Autónomos. "Autonomía, Profesionalización, Control y Transparencia"

Algunos Apuntes En Torno A La Prescripción Extintiva Y La Caducidad, Edward Ivan Cueva

Edward Ivan Cueva

No abstract provided.

Turning A Blind Eye: Wall Street Finance Of Predatory Lending

Patricia A. McCoy

Today, Wall Street finances up to eighty percent of subprime home loans through securitization. The subprime sector, which is designed for borrowers with blemished credit, has been dogged by predatory lending charges, many of which have been substantiated. As subprime securitization has grown, so have charges that securitization turns a blind eye to financing abusive loans. In this paper, we examine why secondary market discipline has failed to halt the securitization of predatory loans.

When investors buy securities backed by predatory loans, they face a classic lemons problem in the form of credit risk, prepayment risk, and litigation risk. Securitization …

The Investor Compensation Fund, Alicia J. Davis

Alicia Davis

The prevailing view among securities regulation scholars is that compensating victims of secondary market securities fraud is inefficient. As the theory goes, diversified investors are as likely to be on the gaining side of a transaction tainted by fraud as the losing side. Therefore, such investors should have no expected net losses from fraud because their expected losses will be matched by expected gains. This Article argues that this view is flawed; even diversified investors can suffer substantial losses from fraud, presenting a compelling case for compensation.

The interest in compensation, however, should be advanced by better means than are …

¿Deben Los Administradores Impugnar Las Resoluciones Asamblearias Inválidas?, Martin Paolantonio

Martin Paolantonio

Un análisis crítico de la afirmación, común en parte de la doctrina argentina, de la existencia de un deber de los administradores de impugnar resoluciones asamblearias inválidas

Intereses Punitorios En El Fuero Comercial, Martin Paolantonio

Martin Paolantonio

Breve reflexión sobre los problemas derivados de la desaparición de la tasa de interés judicial de referencia para las deudas en dólares luego de 2002

La Conexidad Contractual En El Sistema De Tarjetas De Crédito: Los Arts. 43 Y 45 De La Ley 25.065, Martin Paolantonio

Martin Paolantonio

Análisis de las reglas de -limitada- conexidad contractual en la ley 25.065 y su interpretación a la luz de las reglas de tutela del consumidor

La Compensación Y Las Entidades Financieras Suspendidas En Un Fallo De La Corte Suprema, Martin Paolantonio

Martin Paolantonio

Nota a fallo de la Corte Suprema rechazando la posibilidad de compensar deudas contra una entidad financiera primero suspendida y luego insolvente

Obligaciones Negociables, Pesificación Y Esfuerzo Compartido, Martin Paolantonio

Martin Paolantonio

Análisis en nota a fallo de la aplicación de la normativa de emergencia (pesificación) a obligaciones negociables y efectos respecto de un acuerdo preventivo homologado

Orden Público, Pesificación Y Letras De Cambio Internacionales, Martin Paolantonio

Martin Paolantonio

Nota a fallo de la Corte Suprema sobre la aplicación de la legislación de emergencia y el concepto de orden público internacional como limitación a la aplicación del derecho extranjero

Una Nueva Manipulación De Los Ahorros Previsionales, Martin Paolantonio

Martin Paolantonio

Breve reflexión crítica respecto del redireccionamiento de los ahorros previsionales limitando las inversiones en el extranjero

股权分置改革中的行政授予与补偿协商:公法与私法的融合, Wen-Yeu Wang, Jianlin Chen

Jianlin Chen

中国的股权分置改革一方面要使非流通股股东取得流通权,另一方面也要让流通股股东获得合理补偿以求改革能够稳定推进. 传统观点下的契约理论和行政征收理论并不能适切解释中国的股权分置改革方案. 在公,私法融合背景下,美国学者新近提出的行政授予 (regulatory givings)学说，可与大陆法上的行政行为附款理论相互协力，为改革方案提供正当性基础。改革中采用财产法则而非补偿法则保障流通股股东的权益，实属符合经济效率之举. 然而，本方案仍有诸多值得改进之处.

The Seduction Of Lydia Bennet And The Jurisprudence Of The Juristic Society, Scott Fitzgibbon

Scott T. FitzGibbon

The theme of the 12th World Conference of the ISFL is The Family Law – Balancing Interests, Pursuing Priorities. The papers presented there reflected (to a varying degree) that theme, and will analyze the family laws, doctrines, rules, decisions and reform proposals of many nations from these balance-and-priorities perspectives. Papers concerning civil and common law, spousal as well as parent-child issues, traditional as well as non-traditional relations, existing laws as well as proposed reforms, economic as well as non-economic issues, and essential as well as adjective laws will be included. The book contains selected papers chosen for the interest and …

The Private Securities Litigation Reform Act And The Entrepreneur: Protecting Naïve Issuers From Sophisticated Investors, Robert Sprague, Karen Page

Robert Sprague

No abstract provided.

Distinguishing Judges: An Empirical Ranking Of Judicial Quality In The United States Court Of Appeals, Robert Anderson

Robert Anderson IV

This article presents an empirical quality ranking of 383 federal appellate judges who served on the United States Court of Appeals between 1960 and 2008. Like existing judge evaluation studies, this article uses citations among judicial opinions to assess judicial quality. Unlike existing citation studies, which treat positive and negative citations alike, this article ranks judges according to the mix of positive and negative citations to the opinions, rather than the number of citations to those opinions. By distinguishing between positive and negative citations, this approach avoids ranking judges higher for citations even when the judges are being cited negatively. …

La Cláusula "No A La Orden" En El Pagaré Y El Cheque. A Propósito De Las Modificaciones De Los Decretos 1387/2001 Y 386/2003, Martin Paolantonio, Pablo Legón

Martin Paolantonio

Análisis de la cláusula no a la orden en el pagaré y el cheque, considerando la posibilidad de endoso y sus efectos en virtud del decreto 1387/2001 y 386/2003

La Cláusula General Como Elemento Esencial En La Configuración De Los Actos De Competencia Desleal Enunciados Y No Enunciados, Pierino Stucchi

Pierino Stucchi

No abstract provided.