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Take It Or Leave It: Unconscionability Of Mandatory Pre-Dispute Arbitration Agreements In The Securities Industry, William Alan Nelson II 2015 SelectedWorks

Take It Or Leave It: Unconscionability Of Mandatory Pre-Dispute Arbitration Agreements In The Securities Industry, William Alan Nelson Ii

William Alan Nelson II

The pervasive use of mandatory pre-dispute arbitration agreements in the securities industry is a relatively new phenomenon. However, research reflects that an overwhelming majority of retail brokerage and investment advisory agreements include language requiring that all disputes between the customer and the broker-dealer / investment adviser be resolved through arbitration – most often with Financial Industry Regulatory Authority (FINRA) Dispute Resolution. Thus, only in rare instances can an investor open either a brokerage or investment advisory account without agreeing to submit to mandatory pre-dispute arbitration.

The enclosed article is the first to focus on the fairness of mandatory pre-dispute arbitration agreements through ...


Gambling On Our Financial Future: How The Federal Government Fiddles While State Common Law Is A Safer Bet To Prevent Another Financial Collapse, Brian M. McCall 2015 University of Oklahoma College of Law

Gambling On Our Financial Future: How The Federal Government Fiddles While State Common Law Is A Safer Bet To Prevent Another Financial Collapse, Brian M. Mccall

Brian M McCall

Many politicians and commentators agree that credit default swaps (CDS) played a significant role in the financial crisis of 2008. Yet, few who observe this role are aware that CDS were set loose on the economy by the federal pre-emption of thousands of years of public policy. Since the time of Aristotle law, philosophy and public policy have been hostile to gambling. Viewed as a socially unproductive zero sum wealth transfer, the law has generally refused to permit parties to use the courts to enforce wagers. Courts and legislatures worked in harmony to control and in some cases punish financial ...


Banking And Financial Regulation, Steven L. Schwarcz 2015 Duke Law

Banking And Financial Regulation, Steven L. Schwarcz

Faculty Scholarship

This chapter provides a basic overview of banking and financial regulation for the forthcoming Oxford Handbook of Law and Economics (Francesco Paris, ed.). Among other things, the chapter compares traditional and shadow banking and their regulation, differentiating “micro prudential” regulation (which focuses on protecting individual components of the financial system, such as banks) and “macro prudential” regulation (which focuses on protecting against systemic risk). The chapter also examines how regulation can help to correct market failures that undermine financial efficiency. In that context, it discusses, among other things, capital requirements, ring-fencing, and stress testing. Finally, the chapter examines how regulation ...


China - A National Regulatory Framework For The Prc's Stock Markets Begins To Emerge, Benjamin R. Tarbutton 2014 University of Georgia School of Law

China - A National Regulatory Framework For The Prc's Stock Markets Begins To Emerge, Benjamin R. Tarbutton

Georgia Journal of International & Comparative Law

No abstract provided.


From German Shepherds To Wet Poodles: The Sec Exacts Concessions From Daimler-Benz Concerning Disclosure Of Its Hidden Reserves, Andrew H. Walcoff 2014 University of Georgia School of Law

From German Shepherds To Wet Poodles: The Sec Exacts Concessions From Daimler-Benz Concerning Disclosure Of Its Hidden Reserves, Andrew H. Walcoff

Georgia Journal of International & Comparative Law

No abstract provided.


The Value Of Public-Notice Filing Under Uniform Commercial Code Article 9: A Comparison With The German Legal System Of Securities In Personal Property, Jens Hausmann 2014 University of Georgia School of Law

The Value Of Public-Notice Filing Under Uniform Commercial Code Article 9: A Comparison With The German Legal System Of Securities In Personal Property, Jens Hausmann

Georgia Journal of International & Comparative Law

No abstract provided.


Sec V. Bauer: If The Glove Fits, It's Insider Trading, Kramer Ortman 2014 The Catholic University of America, Columbus School of Law

Sec V. Bauer: If The Glove Fits, It's Insider Trading, Kramer Ortman

Catholic University Law Review

Until SEC v. Bauer, insider trading has never been applied within the context of an open-ended mutual fund. In alleging insider trading against Jilaine Bauer, an account executive of a mutual fund, the SEC originally won summary judgment; however, the case on appeal saw the SEC drop its original theory, the classical theory of insider trading, in favor of the alternative misappropriation theory. This Note argues that the misappropriation theory applies in the context of open-ended mutual funds by recognizing that the policy reasons underlying the prohibitions against insider trading are centered on the principles of fairness, market integrity, and ...


High Speed Trading On Stock And Commodity Markets— From Courier Pigeons To Computers, Jerry W. Markham 2014 Florida International University

High Speed Trading On Stock And Commodity Markets— From Courier Pigeons To Computers, Jerry W. Markham

Jerry W. Markham

A growing concern in the stock and commodity markets over the last several years has been the rise of high-frequency traders (HFTs). Those traders employ high-speed computer technology for the algorithmic origination, transmission and execution of their orders through fiber optic cables and micro wave towers. That technology allows HFT orders to be executed in times measured in fractions of a second. As a result of this technological advance, HFTs are now dominating trading volumes. This phenomenon has, on the one hand, led to claims by proponents of high-speed trading that HFTs are an important source of market liquidity and ...


Oxford Handbook: Institutional Investors In Corporate Governance, Edward B. Rock 2014 University of Pennsylvania Law School

Oxford Handbook: Institutional Investors In Corporate Governance, Edward B. Rock

Faculty Scholarship

This chapter of the Oxford Handbook on Corporate Law and Governance examines the role of institutional investors in corporate governance and the role of regulation in encouraging institutional investors to become active stewards. I approach these topics through asking what lessons we can draw from the U.S. experience for the E.U.’s 2014 proposed amendments to the Shareholder Rights Directive.

I begin by defining the institutional investor category, and summarizing the growth of institutional investors’ equity holdings over time. I then briefly survey how institutional investors themselves are governed and how they organize share voting. This leads me ...


Policing Public Companies: An Empirical Examination Of The Enforcement Landscape And The Role Played By State Securities Regulators, Amanda M. Rose, Larry J. LeBlanc 2014 University of Florida Levin College of Law

Policing Public Companies: An Empirical Examination Of The Enforcement Landscape And The Role Played By State Securities Regulators, Amanda M. Rose, Larry J. Leblanc

Florida Law Review

Multiple different securities law enforcers can pursue U.S. public companies for the same misconduct. These enforcers include a variety of federal agencies, class action attorneys, and derivative litigation attorneys, as well as fifty separate state regulators. Scholars and policy makers have increasingly questioned whether the benefits of this multienforcer approach are worth the costs, or whether a more coordinated and streamlined securities enforcement regime might lead to efficiency gains. How serious are these concerns? And what role do state regulators play in the enforcement mix? Whereas the enforcement efforts of the Securities and Exchange Commission and class action lawyers ...


The Facebook Status That Sparked An Sec Investigation: Regulation Fair Disclosure And The Growth Of Social Media, Alyssa Wanser 2014 Touro College Jacob D. Fuchsberg Law Center

The Facebook Status That Sparked An Sec Investigation: Regulation Fair Disclosure And The Growth Of Social Media, Alyssa Wanser

Touro Law Review

No abstract provided.


The Cftc's Attempt To Impose Speculative Position Limits On Off-Exchange Swap Contracts Likely To Face Continued Legal Challenge, Bob Bernstein 2014 Touro College Jacob D. Fuchsberg Law Center

The Cftc's Attempt To Impose Speculative Position Limits On Off-Exchange Swap Contracts Likely To Face Continued Legal Challenge, Bob Bernstein

Touro Law Review

No abstract provided.


Ponzi Schemes In Bankruptcy, Honorable Dorothy T. Eisenberg, Nicholas W. Quesenberry 2014 Touro College Jacob D. Fuchsberg Law Center

Ponzi Schemes In Bankruptcy, Honorable Dorothy T. Eisenberg, Nicholas W. Quesenberry

Touro Law Review

No abstract provided.


Secured Credit And Insolvency Law In Argentina And The U.S.: Gaining Insight From A Comparative Perspective, Guillermo A. Moglia Claps, Julian B. McDonnell 2014 University of Georgia School of Law

Secured Credit And Insolvency Law In Argentina And The U.S.: Gaining Insight From A Comparative Perspective, Guillermo A. Moglia Claps, Julian B. Mcdonnell

Georgia Journal of International & Comparative Law

No abstract provided.


Summary Of Guilfoyle V. Olde Monmouth Stock Transfer Co., 130 Nev. Adv. Op. 78, Chelsea Lancaster 2014 University of Nevada, Las Vegas -- William S. Boyd School of Law

Summary Of Guilfoyle V. Olde Monmouth Stock Transfer Co., 130 Nev. Adv. Op. 78, Chelsea Lancaster

Nevada Supreme Court Summaries

The Court determined that (1) Nevada statutory law partially abrogates common law by making a stock transfer agent’s duty the same as the issuer’s in processing a request to register a transfer of securities; and (2) a transfer agent’s statutory duty to process legend removal requests does not arise without the stockholder’s request to act.

Additionally, the Court reaffirmed the liability of a transfer agent to a stockholder for common law claims asserting misfeasance.


Revamping International Securites Laws To Break The Financial Infrastructure Of Global Terrorism, Sireesha Chenmolu 2014 University of Georgia School of Law

Revamping International Securites Laws To Break The Financial Infrastructure Of Global Terrorism, Sireesha Chenmolu

Georgia Journal of International & Comparative Law

No abstract provided.


A Comparative Study Of Monitoring Of Management In German And U.S. Corporations After Sarbanes-Oxley: Where Are The German Enrons, Worldcoms, And Tycos?, Florian Stamm 2014 University of Georgia School of Law

A Comparative Study Of Monitoring Of Management In German And U.S. Corporations After Sarbanes-Oxley: Where Are The German Enrons, Worldcoms, And Tycos?, Florian Stamm

Georgia Journal of International & Comparative Law

No abstract provided.


Halliburton, Basic And Fraud On The Market: The Need For A New Paradigm, Charles W. Murdock 2014 Loyola University Chicago

Halliburton, Basic And Fraud On The Market: The Need For A New Paradigm, Charles W. Murdock

Charles W. Murdock

Summary: Halliburton, Basic and Fraud on the Market: The Need for a New Paradigm

If defrauded securities plaintiffs cannot bring a class-action lawsuit, there often will be no effective remedy since the amount at stake for individual plaintiffs is not sufficient to warrant the substantial costs of litigation. To surmount the problem of individualized reliance and establish commonality, federal courts for twenty-five years have been employing the Basic fraud-on-the-market theory which posits that, in an efficient market, investors rely on the integrity of the market price.

While class certification at one time was a matter of course, today it is ...


Inevitable Imbalance: Why Ftc V. Actavis Was Inadequate To Solve The Reverse Payment Settlement Problem And Proposing A New Amendment To The Hatch-Waxman Act, Rachel A. Lewis 2014 Seattle University School of Law

Inevitable Imbalance: Why Ftc V. Actavis Was Inadequate To Solve The Reverse Payment Settlement Problem And Proposing A New Amendment To The Hatch-Waxman Act, Rachel A. Lewis

Seattle University Law Review

The law regarding reverse payment settlements is anything but settled. Reverse payment settlements are settlements that occur during a patent infringement litigation in which a pharmaceutical patent holder pays a generic drug producer to not infringe on the pharmaceutical patent. Despite the recent decision by the United States Supreme Court in FTC v. Actavis, Inc., there are still unanswered questions about how the “full rule of reason” analysis will be applied to reverse payment. This Comment argues that despite the outcome in Actavis, the complex regulatory framework of the Hatch–Waxman Act will create repeated conflicts between antitrust law and ...


The Key Elements For Developing A Securities Market To Drive Economic Growth: A Roadmap For Emerging Markets, Ziven Scott Birdwell 2014 University of Georgia School of Law

The Key Elements For Developing A Securities Market To Drive Economic Growth: A Roadmap For Emerging Markets, Ziven Scott Birdwell

Georgia Journal of International & Comparative Law

No abstract provided.


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