Banking and Finance Commons^™

Through A Latte, Darkly: Starbucks' Window Into Stateless Income Tax Planning, Edward D. Kleinbard

University of Southern California Law and Economics Working Paper Series

This paper uses Starbucks Corporation, the premier roaster, marketer and retailer of specialty coffee in the world, as an example of stateless income tax planning in action. “Stateless income” comprises income derived for tax purposes by a multinational group from business activities in a country other than the domicile of the group’s ultimate parent company, but which is subject to tax only in a jurisdiction that is neither the source of the factors of production through which the income was derived, nor the domicile of the group’s parent company.

The paper reviews both Starbucks’ recent U.K. tax ...

Review: Is Hedge Fund Registration Necessary? , J. W. Verret

Washington and Lee Law Review

No abstract provided.

Why Register Hedge Fund Advisers— A Comment , Lyman Johnson

Washington and Lee Law Review

No abstract provided.

Is Hedge Fund Adviser Registration Necessary To Accomplish The Goals Of The Dodd–Frank Act’S Title Iv?, Luther R. Ashworth Ii

Washington and Lee Law Review

No abstract provided.

Risk-Based Student Loans , Michael Simkovic

Washington and Lee Law Review

No abstract provided.

Janus Capital Group, Inc. V. First Derivative Traders: Further Limited Liability, And Missing An Opportunity To Curb Corporate Misconduct, Zachary K. Ostro

Journal of Business & Technology Law

No abstract provided.

Teaching Business Law In The New Economy; Strategies For Success, Kamille Wolff Dean

Journal of Business & Technology Law

No abstract provided.

Teaching Amidst Transformation: Integrating Global Perspectives On The Financial Crisis Into The Classroom, Shruti Rana

Journal of Business & Technology Law

No abstract provided.

Full Disclosure Of Consumer Savings Information , Vance Hartke

Pepperdine Law Review

No abstract provided.

Half-Way Mark Reached In The Demise Of The Inequitable Application Of The “Due-On-Sale” Clause, Bernard J. Koerselman

Pepperdine Law Review

No abstract provided.

The Impact Of The Equal Rights Amendment On Married Women's Financial Individual Rights , Anne K. Bingaman

Pepperdine Law Review

No abstract provided.

New Challenges To Investor's Counsel: Legal Risk Analysis And The Work-Out Perspective In Ldc Investment, Allen P.K. Keesee

Pepperdine Law Review

No abstract provided.

In Search Of A Less Tentative Totten, R. Wayne Estes

Pepperdine Law Review

No abstract provided.

How The Poor Got Cut Out Of Banking, Mehrsa Baradaran

Scholarly Works

The United States currently has two banking systems — one for the rich, one for the poor. It wasn’t always this way. Throughout U.S. history, the government has enlisted certain banking institutions to serve the needs of the poor and offer low cost credit to enable low-income Americans to escape poverty. Credit unions, savings and loans and Morris Banks are three prominent examples of government-supported institutions with a specific focus of helping the poor. Unfortunately, these institutions are no longer fulfilling their missions and high-cost, usurious, and sometimes predatory check-cashers and payday lenders have quickly filled the void. These ...

In Search Of The Right Balance: Patco Lays The Foundation For Analyzing The Commercial Reasonableness Of Security Procedures Under Ucc Article 4a, Melissa Waite

Boston College Law Review

On July 3, 2012, in Patco Construction Co. v. People’s United Bank, the First Circuit held that security procedures used to verify electronic funds transfers initiated through online banking were commercially unreasonable. In reaching its decision, the court laid a strong foundation for analyzing commercial reasonableness in future cases. This Comment argues that future courts should build on this analysis by considering recent merger activity when determining the standard against which commercial reasonableness should be measured.

Index Theory: The Law, Promise, And Failure Of Financial Indices, Andrew Verstein

Lecturer and Other Affiliate Scholarship Series

Financial indices, like the S&P 500 or the Consumer Price Index, have become a ubiquitous feature of our financial markets. One index, the London InterBank Offered Rate ("Libor"), may be the world’s most important number, an interest rate benchmark upon which hundreds of trillions of dollars depend. Yet, almost every day new revelations emerge that Libor was tampered with during the height of the financial crisis by one or many of the world's most prominent banks, with billions of dollars potentially misappropriated. This index disruption has attracted tremendous interest from regulators, private litigants, and market observers. Despite ...

Revolution In Manipulation Law: The New Cftc Rules And The Urgent Need For Economic And Empirical Analyses, Andrew Verstein

Lecturer and Other Affiliate Scholarship Series

Three major banks have now admitted that their employees manipulated worldwide interest rates through the London Interbank Offered Rate (Libor), the most widely used interest rate index. Libor is the interest rate term for trillions of dollars of swaps and loans, and its manipulation may have been used to extract billions of dollars. These allegations come just as commodities manipulation law has been dramatically reformed and the Commodity Futures Trading Commission (CFTC) given vast new regulatory powers. This article provides the first extended, scholarly analysis of the CFTC’s new anti-manipulation rules. We consider the difficulty the rules address: Commodities ...

Restricted Investment In Private Equity: The Volcker Rule's Incursion Into Banking?, Manasa Reddy Gummi

LL.M. Graduate Research Papers

Investment in private equity originally came from individual investors and corporations. However, over the years institutional investors have become prominent in the investor pool with the hope of achieving risk adjusted returns. Banks have become significant sources of funds in the private equity market. Bank affiliate groups account for a significant share of the private equity activity as well as the banks’ own capital. A distinct feature of a leveraged buyout by a private equity firm as opposed to strategic buyouts and other transactions is the significant reliance on debt financing. Typically, shell companies with substantially no assets would be ...

Lawyers In The Shadows: The Transactional Lawyer In A World Of Shadow Banking, Steven L. Schwarcz

Faculty Scholarship

This article, which is based on the author’s keynote address at an April 5, 2013 conference at American University Washington College of Law on “Transactional Lawyering: Theory, Practice, & Pedagogy,” examines the role of transactional lawyers in a world of shadow banking. By reducing the dominance of banks as financial intermediaries, shadow banking has transformed the financial system, causing transactional lawyers to face an array of novel issues. This article focuses on one of those issues: To what extent should transactional lawyers address the potential systemic consequences of their client’s actions? First, the article shows that the legal system ...

Strengthening Financial Reporting: An Essay On Expanding The Auditor’S Opinion Letter, James D. Cox

Faculty Scholarship

Users of financial statements, foremost of which are investors, have a voracious appetite for information that better enables them to assess the financial position and performance of the reporting firm. Even though financial statements purport to address their needs, because the statements, which are prepared by the firm’s managers, conceal a range of managerial estimates, assumptions, judgments, and choices, investors are deprived of the most fundamental kernel of information they seek, namely the overall quality of the financial reports themselves. In this Article, the author sets forth several modest steps that would enhance the overall quality of financial reporting ...