Digital Commons Network^™

A Tale Of Two Credits: The Post-Nestlé Alien Tort Statute And Carbon Credit Externalities, Stephanie Mao

Northwestern University Law Review

As companies increasingly embrace carbon-neutrality commitments, many rely on the voluntary carbon market to offset their emissions rather than reduce them directly. Regulatory and consumer scrutiny has focused on the widespread use of “phantom” carbon credits, i.e., credits that fail to produce meaningful climate benefits. But less attention has been paid to what this Note terms “colonial” carbon credits: those that may technically reduce emissions but do so at the expense of communities abroad. These projects may contribute to land dispossession, human rights abuses, and threats to public and environmental health. Yet, current regulatory and legal frameworks, with their focus …

Reconceptualization Of Corporate Governance For Fintech Firms, Isa Alade

Loyola of Los Angeles International and Comparative Law Review

The scandals involving some major fintech firms/platforms such as FTX, Wirecard, Celsius, TerraLuna and Lending Club raise questions about the efficacy of the current corporate governance architecture for fintech firms. Comparing some of the factors that contributed to these recent scandals in the fintech industry against the weaknesses in the corporate governance arrangements for traditional financial firms in the period leading to the global financial crisis (GFC), this paper argues that the unique characteristics of fintech firms amplify some of the weaknesses in the corporate governance arrangements in the financial services industry that contributed to the GFC. The ubiquitous nature …

"Not A Victimless Crime": A Comparison Of Global Regulatory Frameworks And The Future Of The International Community's Response To Artificial Intelligence Crime, Blake Morrow

Loyola University Chicago International Law Review

The international community continues to implement regulations on artificial intelligence (Al). Fueled by AI's burgeoning generative ability, the technology's growth presents a heightened risk that bad actors will use Al systems to facilitate crimes or produce harmful content, including the production of child sex abuse materials (CSAM).

Despite this heightened risk, countries and other regulatory bodies struggle to balance the benefits of Al innovation against limiting any potential dangers. Moreover, with no uniform international regulations on Al and very little guidance from international leaders, the global Al regulatory landscape remains a fragmented patchwork of domestic approaches that limit international cooperation. …

Regulating Digital Platforms Through Sanctions, Michelle Miao

Washington International Law Journal

This article, theoretically and empirically, articulates the rising role of criminal law as a regulatory tool of China’s digital platform economy. This unique Chinese model of digital platform governance is described as “regulation through sanctions.” Through a comprehensive survey of a wide range of digital platforms— e.g., financial fundraising platforms, e-commerce, taxi-hailing, and video-sharing platforms—and criminal cases involving such platforms, I reveal the logic of regulation through sanctions: It shifts state regulatory burden and accountability, redistributes risks and responsibility, and enhances political legitimacy. Compared to the direct regulatory model adopted by European countries and indirect, self-regulatory model employed in the …

Environmental, Social, And Governance (Esg) Reporting: Attempting To Bridge The Gap On Reporting Standards And The Need For Uniform Standards, Emilee Kula

Penn State Journal of Law & International Affairs (2012 - Present)

No abstract provided.

A New Era Of Accountability? The Holding Foreign Companies Accountable Act’S Pursuit Of Regulatory Equality, Robert Ruelas

Northwestern Journal of International Law & Business

This paper discusses the Holding Foreign Companies Accountable Act (HFCAA) as a response to the long-standing regulatory disparities between U.S. and foreign firms listed on U.S. stock exchanges, with particular regard to foreign firms from China. The HFCAA requires that any firms listed on U.S. stock exchanges be subject to inspections by the Public Company Accounting Oversight Board (PCAOB) or face delisting, aiming to eliminate historic regulatory disparities. The paper begins by highlighting the historic regulatory gap in oversight resulting from China’s lack of cooperation with U.S. regulators and continues by discussing the investor harm from various scandals that could …

An Analytical Examination Of The Inefficacy Of China’S Independent Director System: A Comparative Perspective, Nanzhu Wang

Northwestern Journal of International Law & Business

This paper analyzes the effectiveness of China’s independent director (ID) system in listed companies following the 2023 regulatory reforms enacted by the China Securities Regulatory Commission (CSRC). These reforms raised the independence standards for IDs by broadening disqualification criteria and modifying the appointment mechanisms. Despite the establishment of an ID system this century and the recent enhanced standards, empirical evidence indicates persistent shortcomings in China’s ID mechanism. Many of the positive outcomes initially attributed to IDs—such as improved internal control or better firm performance—cannot conclusively isolate IDs’ independence or expertise as the true cause. In contrast, negative evidence, which specifically …

The War On Gangs: El Salvador’S Playground For International Human Rights Violations, Sanobar Valiani

University of Miami Inter-American Law Review

International human rights law was developed with the underlying philosophy that all human beings are born free and equal in dignity and rights. However, since its development, we have seen a vast number of human rights violations persist with no recourse. The War on Gangs in El Salvador is just one example of this. This Note examines the history of the War on Gangs in El Salvador, the tumultuous political landscape that has spurred as a result, and how political efforts to address gang violence have been used as a tactic to strip Salvadorans of their fundamental rights and dignity. …

Indonesian Capital Market Investor Protection In Cases Of Embezzlement, Arman Nefi, Adiwarman Adiwarman

Indonesia Law Review

Law Number 8 of 1995 on Capital Market, in Articles 90 to 98, regulates fraud, market manipulation and insider trading. There is no regulation of embezzlement in the Indonesian Capital Market. Have the legislators forgotten, or have anticipated that there will never be embezzlement in the legal realm of the Indonesian Capital Market? The paper deals with the absent of criminalization of embezzlement in capital market act and produce the recommendation to cope with the issue. This study uses a normative legal analysis method with a conceptual, an analytical, and a case study approach. Several legal cases that are strongly …

Place-Based Versus Practice-Based Norms For American Lawyers: "It's The End Of The World As We Know It (And I Feel Fine)", James E. Moliterno

South Carolina Law Review

No abstract provided.

Bolsonaro: Extradition And The Limits Of The Political Exception Doctrine, Allison Herstic

Cardozo International & Comparative Law Review (CICLR) Blog

Former Brazilian President Jair Bolsonaro’s recent move to Florida represents a potential clash between the immunity afforded to former political leaders and the notion of extradition – a treaty-based obligation to return individuals charged with offenses to their home country.

This post was originally published on the Cardozo International & Comparative Law Review on April 3, 2023. The original post can be accessed via the Archived Link button above.

Typing A Terrorist Attack: Using Tools From The War On Terror To Fight The War On Ransomware, Jake C. Porath

Pepperdine Law Review

The United States faces a grave challenge in its fight against cyberattacks from abroad. Chief among the foreign cyber threats comes from a finite number of “ransomware-as-a-service” gangs, which are responsible for extorting billions of dollars from American citizens and companies annually. Prosecuting these cybercriminals has proven exceedingly difficult. Law enforcement often struggles to forensically trace ransomware attacks, which makes identifying and prosecuting the perpetrators challenging. Moreover, even when prosecutors can identify the perpetrators of these attacks, the ransomware gangs are headquartered in foreign adversarial nations that do not extradite criminals to the United States. Finally, ransomware gangs are governed …

Should The United States Adopt Federal Artificial Intelligence Regulation Similar To The European Union, Jean Joseph

Loyola University Chicago International Law Review

Artificial Intelligence (AI) promises to revolutionize our everyday lives and how we approach all sectors of the economy and society. For the laundry list of benefits this form of technology provides, there is a concern as to the ways Al can produce troubling outcomes - including racial discrimination and social inequality. The United States House of Representatives introduced the National Al Initiative Act of 2020 (NAIIA) to ensure continued US leadership in Al research and development. However, the NAIIA leaves issues concerning the risk of biases and discrimination associated with using Al systems to federal agencies and state governments. While …

K-Pop’S Secret Weapon: South Korea’S Criminal Defamation Laws, Rebecca Xu

San Diego International Law Journal

South Korea’s criminal defamation laws have long been considered an intrusion on the free speech rights of citizens, especially in regard to the usage by politicians against their opponents and journalists to suppress criticisms. This Comment considers the history and effects of these controversial defamation laws through the lens of recent scandals within the Korean entertainment industry, where regular citizens accusing Korean celebrities of past school violence are confronted with threats of defamation charges. To highlight the controversial nature of such laws, comparisons will be drawn between South Korea and other countries to highlight the restrictive nature of Korea’s laws.

Cross-Border Real Estate, Avikshit Moral, Aditi Joshi, Timur Bondaryev

The Year in Review

No abstract provided.

International Investment And Development, Uche Ewelukwa Ofodile, Qingqing Miao, Mauricio Becerra De La Roca Donoso, Alexander Ritchie

The Year in Review

No abstract provided.

Are U.S.-Listed Chinese Firms A Minefield? A Board Perspective

The International Lawyer

No abstract provided.

Guns-For-Hire: Chinese Mercenaries On The 21st Century Silk Road, Carl H. Peterson Iv

Washington International Law Journal

There has been an increased global use of private military contractors (PMCs) since the large-scale American use of them in the wars in Afghanistan and Iraq. This has included an increase in Russian and now Chinese PMCs. As China continues to develop its Belt and Road Initiative (BRI), it is likely that the world will see an increase in the number of Chinese PMCs used to protect these projects. In this event it is important to bring Chinese PMCs into the PMC industry’s most effective private regulatory bodies, as these bodies are often more effective at ensuring ethical PMC conduct …

Effects Of Japanese Financial Regulations And Keiretsu Style Groups On Japanese Corporate Governance, Ken Kobayashi

UC Law SF International Law Review

No abstract provided.

Intended Injury: Transferred Intent And Reliance In Climate Change Fraud, Wes Henricksen

Faculty Scholarship

No abstract provided.

Prosecuting Foreign Bribery In National Projects: A Multi-Phased Approach To Reduce Corruption, Julia E. Johnson

American University Business Law Review

The gradual establishment of an international mechanism to review and prosecute allegations of corruption could help to deter fraudulent conduct. Fraudulent conduct often reduces the economic benefits associated with large-scale development or investment projects. These projects are generally awarded through contract bidding; the bidding outcome may be dictated by bribery and other corrupt behaviors by local officials overseeing the project. The money earmarked for the project may in turn be siphoned off to the bribe recipients for private gain, leaving citizens unable to appreciate the fruits of any such project. For this reason, reducing corruption should remain a key priority. …

Regulating Offshore Finance, William J. Moon

Faculty Scholarship

From the Panama Papers to the Paradise Papers, massive document leaks in recent years have exposed trillions of dollars hidden in small offshore jurisdictions. Attracting foreign capital with low tax rates and environments of secrecy, a growing number of offshore jurisdictions have emerged as major financial havens hosting thousands of hedge funds, trusts, banks, and insurance companies.

While the prevailing account has examined offshore financial havens as “tax havens” that facilitate the evasion or avoidance of domestic tax, this Article uncovers how offshore jurisdictions enable corporations to evade domestic regulatory law. Specifically, recent U.S. Supreme Court cases restricting the geographic …

Unravelling China's Gradual Approach To Equity Crowdfunding Regulation, Chen Li, Yu Qianqian

American University Business Law Review

No abstract provided.

The Eu’S Struggles With Collective Action For Securities Fraud: An American Perspective, Dan Morrissey

Texas A&M Law Review

Notwithstanding the apparent exit of the United Kingdom, the European Union (“EU”) has grown in membership and power since its modest beginnings after World War II, now rivaling the U.S. in economic strength. With the goal of promoting the security and prosperity of all the citizens of the countries that belong to it, the EU is pressing ahead to adopt laws that will promote their political and financial integration. Along those lines, it has also recently acknowledged a deficiency in the legal systems of its member states when it comes to allowing collective actions for victims of various types of …

Atrocities By Corporate Actors: A Historical Perspective, Michael J. Kelly

Case Western Reserve Journal of International Law

The article focuses on developments in international criminal law in addressing corporate human rights violations.

Lessons Of The Financial Crisis In Ecuador 1999, Maria Laura Patino L

Law and Business Review of the Americas

No abstract provided.

Enron And The Special Purpose Entities - Use Or Abuse - The Real Problem - The Real Focus, Neal F. Newman

Law and Business Review of the Americas

No abstract provided.

Beyond The Maginot Line: The Real Borders Of Freedom And Security, Hugh Segal

Law and Business Review of the Americas

No abstract provided.

Modes Of Liability, Cumulative Convictions, And Charging Language, Ankita Channarasappa

War Crimes Memoranda

No abstract provided.

The Foreign Corrupt Practices Act: Imposing An American Definition Of Corruption On Global Markets, Mateo J. De La Torre

Cornell Law Library Prize for Exemplary Student Research Papers

Mateo de la Torre’s research had an international focus in examining the cross-cultural implications of Foreign Corrupt Practices Act (FCPA).

de la Torre’s research required a comparative analysis of foreign laws that are similar to the United States’ FCPA and included statutes, legislative histories, and commentary from Brazil, Japan, and the United Kingdom. He also consulted extensively with several members of the Cornell Law faculty. de la Torre’s findings provided the basis for his examination of the FCPA’s impact on nondomestic actors and markets, arguing that the United States’ aggressive stance belies the Act’s original purpose. He then presented frameworks …