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Dashboard Compliance: Benefit, Threat, Or Both?, James Fanto 2016 Brooklyn Law School

Dashboard Compliance: Benefit, Threat, Or Both?, James Fanto

Brooklyn Journal of Corporate, Financial & Commercial Law

This Article poses the basic question that is reflected in its title and that was the subject of the conference where the Article was initially presented: whether technology poses any threats to the mission of compliance and the position of compliance officers, whether it is just another useful tool for them, or whether it is something of both. It begins by explaining the origin of compliance in broker-dealers and investment advisers and its important current position in those firms. It then discusses why compliance officers have always been drawn to technology, particularly to keep up with the business sides of ...


Preserving Human Agency In Automated Compliance, Onnig H. Dombalagian 2016 Brooklyn Law School

Preserving Human Agency In Automated Compliance, Onnig H. Dombalagian

Brooklyn Journal of Corporate, Financial & Commercial Law

As technology transforms financial services, so too must it transform the regulation of financial markets and intermediaries. The imperative of real-time, prophylactic regulation increasingly compels reallocation of regulatory and compliance budgets to surveillance and enforcement technology. At the same time, in light of the well-known weaknesses of automated systems, securities firms (and their regulators) must temper investment in automation with efforts to augment the agency of compliance professionals. This symposium contribution considers how investment in the professional development of compliance personnel can better integrate automated tools within established compliance and supervisory structures and thereby advance regulatory and operational objectives.


Mandatory Third Party Compliance Examinations For Investment Advisers: An Sec Waterloo?, Mercer Bullard 2016 Brooklyn Law School

Mandatory Third Party Compliance Examinations For Investment Advisers: An Sec Waterloo?, Mercer Bullard

Brooklyn Journal of Corporate, Financial & Commercial Law

The Securities and Exchange Commission (SEC or Commission) appears to be on the verge of requiring investment advisers to undergo third party examinations. One justification for the rulemaking is that the Commission lacks sufficient resources to examine advisers frequently enough. Another is to create indirectly a self-regulatory organization (SRO) for investments advisers. Both may leave a rulemaking particularly vulnerable to challenge as arbitrary and capricious under the Administrative Procedures Act. This Article considers three novel grounds on which a rulemaking may be successfully challenged. Congress has repeatedly rejected SEC requests to provide additional funding for examinations or to create an ...


Compliance; Technology; And Modern Finance, Tom C.W. Lin 2016 Brooklyn Law School

Compliance; Technology; And Modern Finance, Tom C.W. Lin

Brooklyn Journal of Corporate, Financial & Commercial Law

An important transformation is happening in the financial industry. The rise of new technology and compliance has dramatically altered many of the key functions and functionaries of modern finance. Artificial intelligence; algorithmic programs; and supercomputers; instead of human actors; now constitute the core of many financial operations. Compliance officers have become just as critical to financial institutions as traders; bankers; and analysts. Finance as we knew it has changed and continues to change. This symposium Article offers a studied commentary on these unfolding changes; the crosscutting developments in compliance; technology; and modern finance. It examines the concurrent and intersecting ascents ...


Procedural Choices In Regulatory Science, Sheila Jasanoff 2016 University of New Hampshire

Procedural Choices In Regulatory Science, Sheila Jasanoff

RISK: Health, Safety & Environment

This paper compares four approaches to using science in regulatory decision making - one very similar to the Science Court proposal. Professor Jasanoff argues generally that that proposal would be less useful than procedures more sensitive to the distinctive characteristics of regulatory science.


Dvla Gov.Uk-Vehicle Registration Amp Sorn Dvla Faqs.Pdf, Lissa Coffey 2016 University of South Florida

Dvla Gov.Uk-Vehicle Registration Amp Sorn Dvla Faqs.Pdf, Lissa Coffey

LissaCoffey

Driver and Vehicle Licensing Agency (DVLA) holds over 47 million driver records and over 39 million vehicle records. DVLA collects around £5.6 billion a year in Vehicle Excise Duty (VED). DVLA is an executive agency, sponsored by the Department for Transport. What If your Direct Debit vehicle tax payment fails ,How to tell DVLA you've changed address? Need to take a personalised registration number off your vehicle? Buying a car today? The tax or SORN doesn’t come with it. Find out more … Check a vehicle's details, tax and SORN status and expiry dates on the Driver ...


Natural Resources Defense Council, Inc. V. Pritzker, Caitlin Buzzas 2016 Alexander Blewett III School of Law at the University of Montana

Natural Resources Defense Council, Inc. V. Pritzker, Caitlin Buzzas

Public Land and Resources Law Review

In Natural Resources Defense Council, Inc. v. Pritzker, the Ninth Circuit dealt with the conflict of science in making legal and policy decisions. NMFS was held to a stringent mitigation standard to protect marine mammals against the Navy’s use of LFA sonar for military operations. In this decision the court held that agencies are required to apply the least practicable adverse impact on marine mammals in these types of operations and agencies must listen to their own experts when making these decisions.


Rethinking The Nature Of The Firm: The Corporation As A Governance Object, Peer Zumbansen 2016 Selected Works

Rethinking The Nature Of The Firm: The Corporation As A Governance Object, Peer Zumbansen

Peer Zumbansen

This Article attempts to bridge two discourses—corporate governance and contract governance. Regarding the latter, a group of scholars has recently set out to develop a more comprehensive research agenda to explore the governance dimensions of contractual relations, highlighting the potential of contract theory to develop a more encompassing theory of social and economic transactions. While a renewed interest in the contribution of economic theory for a concept of contract governance drives one dimension of this research, another part of this undertaking has been to move contract theory closer to theories of social organization. Here, these scholars emphasize the “social ...


Beyond Agency Core Mission, Yoon-Ho Alex Lee 2016 USC Gould School of Law

Beyond Agency Core Mission, Yoon-Ho Alex Lee

University of Southern California Legal Studies Working Paper Series

A long-standing view among legal scholars, political scientists, sociologists, and regulators posits that it is important for a regulatory agency to have a narrowly-defined core mission and to focus on activities that are central to accomplishing it successfully. Although this view has no doctrinal foundation, rhetoric grounded on it crops up frequently in regulatory dialogues, especially in opposition to prospective agency regulations. The purpose of this Article is to formalize this “core-mission model” of the administrative state and analyze its benefits, costs, and risks. An important starting point for the analysis is that, unlike a private corporation or a non-profit ...


Medicaid Maximization And Diversion: Illusory State Practices That Convert Federal Aid Into General State Revenue, Daniel L. Hatcher 2016 Seattle University School of Law

Medicaid Maximization And Diversion: Illusory State Practices That Convert Federal Aid Into General State Revenue, Daniel L. Hatcher

Seattle University Law Review

For years, states have been using illusory schemes to maximize federal aid intended for Medicaid services—and then often diverting some or all of the resulting funds to other use. And states have help. Private revenue maximization consultants are hired by states to increase Medicaid claims, often for a contingency fee. We do not know the exact amount of federal Medicaid funds that has been diverted to state revenue and private profit each year, but it is in the billions. Part I of this Article sets out the structure of the Medicaid program and describes states’ use of revenue maximization ...


Environmental Justice And Community-Based Reparations, Catherine Millas Kaiman 2016 Seattle University School of Law

Environmental Justice And Community-Based Reparations, Catherine Millas Kaiman

Seattle University Law Review

This Article seeks to illuminate the lack of adequate legal remedies that are available for low-income, predominantly minority communities that have suffered historic environmental injustices. The Article not only discusses the lack of adequate legal remedies, but also proposes the use of local, state, and federal reparations programs for communities that have previously suffered environmental injustices; are still living with the effects of environmental injustices, by way of disease, air, soil, and water pollution; or are suffering current and ongoing environmental injustices. As has been recently illustrated by Michigan’s state action of providing lead-contaminated water for over a year ...


An Unconstitutional Work Of Art: Discussing Where The Federal Government's Discrete Intrusions Into One's Privacy Become An Unconstitutional Search Through Mosaic Theory, Steven Graziano 2016 University of Minnesota Law School

An Unconstitutional Work Of Art: Discussing Where The Federal Government's Discrete Intrusions Into One's Privacy Become An Unconstitutional Search Through Mosaic Theory, Steven Graziano

Minnesota Journal of Law, Science & Technology

No abstract provided.


Preventing Shelterization: Alleviating The Struggles Of Homeless Individuals And Families In New York City, Salley Kim 2016 Fordham University School of Law

Preventing Shelterization: Alleviating The Struggles Of Homeless Individuals And Families In New York City, Salley Kim

Fordham Urban Law Journal

No abstract provided.


Corporations In The Flow Of Culture, Greg Urban 2016 Seattle University School of Law

Corporations In The Flow Of Culture, Greg Urban

Seattle University Law Review

As an anthropologist, coming out of three decades of research among indigenous Brazilian populations, I naturally saw modern for-profit business corporations as tribes—the collective bearers of adaptive cultural know-how. They appeared to me to be the entities housing the culture needed to produce commodities, to trade commodities on the open market, or both. I was also, of course, aware of the legal concept of the corporation as fictive person capable of owning property and having standing in court cases, which I thought of as akin to the anthropological corporation insofar as both recognized the group as social actor. However ...


Remarks: The Declining Role Of Outside Counsel In Enhancing Ethical Conduct By Corporations, Jed S. Rakoff 2016 Seattle University School of Law

Remarks: The Declining Role Of Outside Counsel In Enhancing Ethical Conduct By Corporations, Jed S. Rakoff

Seattle University Law Review

Judge Rakoff’s remarks from the seventh annual Berle Symposium, held May 26–27, 2015 at Seattle University School of Law.


"Special," Vestigial, Or Visionary? What Banking Regulation Tells Us About The Corporation—And Vice Versa, Robert C. Hockett, Saule T. Omarova 2016 Seattle University School of Law

"Special," Vestigial, Or Visionary? What Banking Regulation Tells Us About The Corporation—And Vice Versa, Robert C. Hockett, Saule T. Omarova

Seattle University Law Review

A remarkable yet seldom noted set of parallels exists between modern U.S. bank regulation, on the one hand, and what used to be garden-variety American corporate law, on the other hand. For example, just as bank charters are matters not of right but of conditional privilege even today, so were all corporate charters not long ago. Just as chartered banks are authorized to engage only in limited, enumerated activities even today, so were all corporations restricted not long ago. And just as banks are subject to strict capital regulation even today, so were all corporations not long ago. In ...


Law And The Theory Of Fields, Frank Partnoy 2016 Seattle University School of Law

Law And The Theory Of Fields, Frank Partnoy

Seattle University Law Review

The distinction between “material” and “existential” plays a prominent role in A Theory of Fields, and it played a prominent role in discussions at the Berle VII Symposium. In general, the authors advocated the importance of the ongoing use of social skills and the collaborative efforts to seek meaning, particularly in ways beyond the merely “material.” However, the extent to which rules might matter in these efforts was less clear. Overall, Fligstein and McAdam seek to use the concept of a strategic action field to develop a theory of social change and stability. Yet social change and stability are inextricably ...


The English East India Company And The Modern Corporation: Legacies, Lessons, And Limitations, Philip J. Stern 2016 Seattle University School of Law

The English East India Company And The Modern Corporation: Legacies, Lessons, And Limitations, Philip J. Stern

Seattle University Law Review

The English East India Company was first chartered in 1600, endured until the late nineteenth century, and, in a clever act of corporate resurrection, has even recently returned as a global, upmarket retail outlet selling fine foods and commemorative coins. It has also endured in the popular imagination and culture, churning out heroes and villains alike in film, television, and video games. The script writer for a forthcoming BBC miniseries, in which the East India Company stars as the prime antagonist, even noted recently that the Company was like “the CIA, the NSA, and the biggest, baddest multinational corporation on ...


On The Existential Function Of The Social And The Limits Of Rationalist Accounts Of Human Behavior, Doug McAdam 2016 Seattle University School of Law

On The Existential Function Of The Social And The Limits Of Rationalist Accounts Of Human Behavior, Doug Mcadam

Seattle University Law Review

Rational choice theory has achieved widespread influence in a number of social science disciplines, most notably economics and political science. Given its prominent position within economics, it is not surprising that rational choice theory (and other rationalist perspectives) dominates theory and research on the corporation and decision-making by corporate actors. By contrast, however, the theory has failed to gain more than a toehold in sociology. Indeed, most sociologists are downright hostile to rational choice theory. When pressed to explain why, those in the discipline are very likely to complain that the perspective is “asociological”; that the theory posits an atomized ...


What Might Replace The Modern Corporation? Uberization And The Web Page Enterprise, Gerald F. Davis 2016 Seattle University School of Law

What Might Replace The Modern Corporation? Uberization And The Web Page Enterprise, Gerald F. Davis

Seattle University Law Review

The number of public corporations in the United States has been in decline for almost twenty years. Alternative forms of organization, from LLCs and benefit corporations to Linux and Wikipedia, provide robust competition to traditional corporations, while short-lived, project-based enterprises that assemble supply chains from available parts are increasingly cost effective. Yet our understanding of corporate governance has not kept pace with the new organization of the economy and we continue to treat the public corporation with dispersed ownership as the default form of doing business. Meanwhile, many of the corporations going public in recent years have abandoned traditional standards ...


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