Digital Commons Network^™

The Settlement Privacy-Transparency Matrix: Moving Beyond The Dichotomous Mindset In The Settlement Debate, Alyson Carrel, Peter K. Chan

Journal of Dispute Resolution

The philosopher Arthur Schopenhauer once wrote, “The first forty years of life give us the text; the next thirty supply the commentary on it.” Forty years after Owen Fiss’s seminal article “Against Settlement,” it is time to reimagine how we approach the settlement debate beyond traditional dichotomies. Just as Schopenhauer recognized that time and experience allow us to better understand our past, forty years of grappling with the settlement debate have given us the perspective to see its limitations, and now with emerging technologies, new possibilities. The ‘text’ of the debate—its dichotomous framing and distributive solutions—has shaped four decades of …

Cyber Insurance For Public Housing: Confronting Market Barriers And Forging Policy Solutions, Deborah L. Johnson, William B. Simpson

Student Journal of Information Privacy Law

In 2023, the Los Angeles Public Housing Authority was hit by the LockBit ransomware gang, which claimed to have exfiltrated 15 terabytes of data. In another incident, hackers impersonated a vendor and diverted nearly $1 million in housing funds from a second California agency. Public Housing Authorities (PHAs), which handle large amounts of sensitive data, are increasingly being targeted by cyberattacks. These attacks often exploit the weak cyber defenses and broad risk profiles of these relatively unsophisticated entities. With limited resources and few avenues for recovery, PHAs are left vulnerable to, and by, cyberattacks, threatening the vital services they provide. …

The Case For A Federal Data Privacy Law From A National Security Perspective - What The U.S. Can Learn From Overseas, Theodore H. Massey Iii

Student Journal of Information Privacy Law

The collection of personal data in the private sector has grown exponentially over the years, leading to an exponential growth in the theft and the purchase of personal data by criminals and foreign adversaries. While the United States has implemented EO 14117 and the Protecting Americans’ Data from Foreign Adversaries Act of 2024 to protect against the inherent national security risks associated with data privacy, the United States must create an omnibus federal privacy law if it wishes to mitigate the national security risk. This paper introduces the reader to the increase in personal data collected by private organizations and, …

Introduction: Forever Criminalized?: How Collateral Consequences Advance Disparities In Criminal Justice, Jenny Roberts

Hofstra Law Review

No abstract provided.

Ai Governance And Algorithmic Auditing In Financial Institutions: Lessons From Singapore, Nydia Remolina Leon

Research Collection Yong Pung How School Of Law

This paper examines the role of algorithmic auditing as a mechanism for responsible AI development and deployment in the financial sector, with a particular focus on Singapore’s regulatory and institutional initiatives. Against the backdrop of fragmented global artificial intelligence (AI) governance frameworks, the study analyses how Singapore has developed operational tools — such as the Veritas Toolkit, AI Verify, Project Moonshot and Project Mindforge — that go beyond abstract ethical principles to provide measurable, use-case-specific standards for auditing AI systems. These initiatives contribute to standardising audit practices, enhancing transparency and bridging trust gaps between financial institutions, regulators and stakeholders. The …

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 …

A Legislative Foundation For Foundation Models, Steven Arango

Georgia State University Law Review

Artificial Intelligence (AI) is not some futuristic technology—it exists in everyday products like your Uber app or the Siri voice on your nightstand. Its development is meteoric; foundation models are the latest AI advancement. These models are a type of AI that not only produces a range of products but is also integrated into other AI models. This AI Swiss army knife is proving to be an incredible asset for economic development and national security. But, like other world- altering technology, there is a pernicious side of foundation models. Their flexibility offers adversaries, such as state and non-state actors, the …

Department Of Financial Protection And Innovation, Maya Patel, Marcus Friedman

California Regulatory Law Reporter

No abstract provided.

Leveraging Benford’S Law And Machine Learning For Financial Fraud Detection, Benjamin R. Fu

Cybersecurity Undergraduate Research Showcase

Financial fraud, particularly credit card fraud, continues to pose substantial challenges to financial institutions due to its increasing frequency and impact on consumer trust. While traditional rule-based methods have provided foundational defenses, their limitations in scalability and adaptability have accelerated the adoption of machine learning (ML) techniques. Concurrently, Benford’s Law—a statistical principle often used in forensic accounting—has demonstrated efficacy in detecting anomalies within naturally occurring numerical datasets. This study explores a hybrid fraud detection approach that integrates Benford’s Law with supervised machine learning algorithms, including Logistic Regression, Random Forest, and k-Nearest Neighbors. Using the publicly available European credit card fraud …

Centralization In Decentralized Finance: Systemic Risk In The Crypto Ecosystem And Crypto's Future As A Regulated Industry, Douglas W. Arner, Tanvi Ratna, Sijuade Animashaun, Jatin Bedi, Naveen Mishra

Law and Contemporary Problems

No abstract provided.

Where Were Purdue’S Lawyers? Lawyer Gatekeeping And Large-Scale Harms, W. Bradley Wendel

DePaul Law Review

No abstract provided.

Real Housewives & Real Crimes: The Implications Of Broadened Privacy Rights On White-Collar Offenses, Shrinithi Venkatesan

William & Mary Business Law Review

Reality television stars turn their fame into fortune, often blurring ethical lines as they exploit their platforms for personal gain. These personalities engage in fraud, tax evasion, and embezzlement, all while maintaining a prominent presence on-screen. Specifically, stars on The Real Housewives franchise realize tremendous successes from their stints on the famous television show by capitalizing on their exposure through social media. With their newfound wealth and fame, many of these stars commit white-collar crimes under their viewers’ watchful eyes. This Note examines three prevailing examples of reality television stars who committed various white-collar crimes. Interestingly, networks tolerate criminal behavior …

Capital Formation, The Sec, And Accredited Investors, Neal F. Newman, Lawrence J. Trautman, Brian Elzweig

Faculty Scholarship

Protecting the investing public, while simultaneously facilitating the efficient flow of capital needed by all new and growing businesses continues as a primary responsibility of the U.S. Securities and Exchange Commission (SEC). Enhancing the capital formation process is a necessary step in the creation of jobs and growth of any economy. Central to the SEC’s regulatory schematic is the proposition that some particularly sophisticated and wealthy investors require less protection than those with less knowledge, experience, and resources. During December 2023, for just the third time, the SEC staff issued a report examining the status of the natural person accredited …

Big Business As Gun Control, David B. Kopel, George A. Mocsary, Bhav Ninder Singh

Dickinson Law Review (2017-Present)

Gun control increasingly bypasses direct legislative enactments by co-opting the commercial marketplace. Financial institutions and insurers often face regulatory pressures, frequently articulated through vague notions of “reputational risk,” to terminate or restrict services for lawful firearms businesses and advocacy groups. The debanking tactic, seen in initiatives such as Operation Choke Point, can deny essential financial products to firearm owners, merchants, and organizations, curtailing the practical exercise of constitutionally protected rights. Simultaneously, government agencies sometimes pursue warrantless data collection from bank records and merchant category codes, building profiles of lawful purchasers and eroding privacy and due-process norms.

Social media platforms compound …

Regulating Robo-Advisors In An Age Of Generative Artificial Intelligence, Daniel Schwarcz, Tom Baker, Kyle Logue

Washington and Lee Law Review

New generative artificial intelligence (“AI”) tools can increasingly engage in personalized, sustained, and natural conversations with users. This technology has the capacity to reshape the financial services industry, making customized expert financial advice broadly available to consumers. However, AI’s ability to convincingly mimic human financial advisors also creates significant risks of large-scale financial misconduct. Which of these possibilities becomes reality will depend largely on the legal and regulatory rules governing “robo-advisors” that supply fully automated financial advice to consumers.

This Article consequently critically examines this evolving regulatory landscape, arguing that current U.S. rules fail to adequately limit the risk that …

Forensic Accounting And Valuation In Delaware Litigation, J.W. Verret

William & Mary Business Law Review

This Article describes the forensic accounting and valuation tools available to Delaware litigators in commercial and corporate litigation as well as family law. Further, it details the licensing process and standards applicable to forensic accountants and shows how the methods utilized in this profession can assist litigators in a variety of contexts. Delaware cases in which courts have accepted or limited the use of expert forensic accountant testimony are explored and general principles for utilizing forensic accounting expertise in Delaware litigation are developed. The uses of forensic accounting in Delaware litigation are demonstrated across appraisal actions, divorce cases, fraud and …

Corporate Evolution, Omari Scott Simmons

Cardozo Law Review

Political entrepreneurs have declared war on environmental, social, and governance policies ("ESG"), going so far as to attempt to criminalize ESG-influenced investing. They seek a return to some real or imagined past. They amplify and elevate their efforts into mainstream public discourse. They pursue extraordinary goals and tactics to disrupt and even dismantle institutional structures, norms, and established processes. The contemporary anti-ESG backlash is not simply a battle over corporate purpose and the dueling perspectives of shareholder primacy versus stakeholderism or disputes concerning sustainable investment and operational strategies. It reflects aggressive political entrepreneurship and the tension between competing narratives: stasis, …

Analisis Kritis Celah Regulasi Investasi Bodong Sebagai Peningkatan Tata Kelola Bisnis Terkait Investasi, Agustin Dea Prameswari

Jurnal Administrasi Bisnis Terapan

The phenomenon of fraudulent investment schemes in Indonesia continues to pose a significant threat to economic stability and business governance. This study aims to evaluate the effectiveness of existing regulations in preventing fraudulent investments, identify regulatory gaps exploited by perpetrators, and propose strategies to strengthen regulations and improve business governance. A qualitative approach was employed using document analysis, encompassing previous studies, prominent fraudulent investment cases such as MeMiles, Binomo, Fahrenheit, and Robot Trading Net89, as well as relevant regulatory frameworks. The findings reveal that existing regulations, such as Law No. 8 of 1995 on Capital Markets and Law No. 11 …

Regulatory Personhood: The Elixir For Redundancy Between The Sec And The Pcaob, Sarah J. Williams

St. John's Law Review

(Excerpt)

This Article analyzes enforcement activity against public company auditors during the agencies’ coexistence for the purpose of unmasking the alleged villainous duplication, budgetary waste, and agency in-fighting that was purportedly created by Congress when it endowed the PCAOB with enforcement powers already existing in the SEC’s arsenal. The Article examines enforcement cases brought by the SEC and the PCAOB against accounting firms and accountants associated with such firms that relate to poor performance in conducting public company audits during the period in which both agencies were in existence. Such research bears upon the effectiveness of the current system of …

Foreword, Madeleine "Mady" Clahane, Lissa L. Broome

North Carolina Banking Institute

No abstract provided.

The Advice Of Counsel Defense: No Longer A Fraudster’S Shield, Maxwell Newman

North Carolina Banking Institute

No abstract provided.

Who Watches The Watchers?: Finra, Self-Regulatory Organizations, And The Next Evolution Of Appointment And Removal Jurisprudence, Hans M. Frank-Holzner

Minnesota Law Review Vols. 106:2 onward (2021-present)

There are private, non-profit corporations exercising significant executive power. Known as self-regulatory organizations (SROs) these non-governmental organizations make binding rules and sometimes enforce statutory law governing massive industries. One such SRO is the Financial Industry Regulatory Authority (FINRA). In 2022 alone, FINRA permanently barred 227 individuals and suspended 328 individuals from the financial industry, imposed $54.5 million dollars in fines, ordered $26.2 million dollars in restitution, and referred 663 cases for prosecution. FINRA’s regulatory jurisdiction is massive. In 2022, it oversaw 3,378 securities firms including 150,647 branch offices and 620,882 individuals nationwide. This immense power is wielded not by the …

The Ethical Governance Of Artificial Intelligence: Using The Ai Integrative Risk-Based (Airb) Model To Achieve Compliance Risk Management, Miriam Weismann

University of Miami Business Law Review

While undeniably powerful, artificial intelligence algorithms also pose significant risks. The ethical, legal, social, and scientific implications of various AI models can be profound, as demonstrated by the subprime mortgage crisis. This crisis, worsened by the unregulated use of derivative algorithms, is a stark reminder of the pivotal role of individual accountability, ethical responsibility, and regulation in preventing future “catastrophic harm.”1 This Article ventures into the uncharted territory of AI ethical governance and aims to advance AI scholarship and address the unresolved issue of ethical compliance management in AI. Employing a risk-based assessment tool is critical for developing regulatory and …

Investor Justice, Nicole Iannarone

Minnesota Law Review Vols. 106:2 onward (2021-present)

There is a systemic flaw in the investor protection landscape. Unrepresented investors face off against well-resourced repeat- player firms that almost always have lawyers. While consumers face similar challenges in civil courts, in forced securities arbitration, the decisionmaker may not have a law degree, is prohibited from conducting any outside legal research, and has no monetary incentive to read materials the parties submit. These realities amplify already-existing informational and resource asymmetries between Main Street investors and stockbrokers and undermine the market-legitimizing function of securities arbitration. Despite being designed to permit investors to recoup losses without the aid of an attorney, …

Deepfakes Can Ruin Lives And Livelihoods – Would Owning The ‘Rights’ To Our Own Faces And Voices Help?, Graeme W. Austin, Jane C. Ginsburg

Faculty Scholarship

Not that long ago, the term “deepfake” wasn’t in most people’s vocabularies. Now, it is not only commonplace, but is also the focus of intense legal scrutiny around the world.

Known in legal documents as “digital replicas”, deepfakes are created by artificial intelligence (AI) to simulate the visual and vocal appearance of real people, living or dead.

Unregulated, they can do a lot of damage, including financial fraud (already a problem in New Zealand), political disinformation, fake news, and the creation and dissemination of AI-generated pornography and child sexual abuse material.

For professional performers and entertainers, the proliferation and increasing …

Deficiencies In The Judicial Classification Of Cryptocurrencies Indicating The Need For Legislative Alternatives, Ethan Johnson

Journal of Legislation

The cryptocurrency industry is desperate for regulatory clarification, which would stabilize and secure cryptocurrency and, ultimately, promote increased investment. How the United States ultimately chooses to pursue cryptocurrency regulation has massive implications for future investment and the development of this technology. Disagreement over how to classify cryptocurrency under the investment contract test created in SEC v. Howey, including the recent Second Circuit split, has led to calls for resolving legislation. Cryptocurrency legislation has recently been passed by the European Union, and there are currently proposals for legislation before Congress in the United States.

This Note considers the context surrounding …

Regulatory Personhood: The Elixir For Redundancy Between The Sec And The Pcaob, Sarah Williams

Faculty Scholarly Works

The Public Company Accounting Oversight Board (“PCAOB” or “Board”) is a quasi-governmental regulatory agency created by Congress in 2002 in response to revelations of widespread financial fraud at major public companies. Since its creation, the agency has experienced significant challenges. Litigants have challenged its constitutionality, the Trump administration challenged its very existence, and legislation was introduced in 2021 to transfer its responsibilities to the U.S. Securities and Exchange Commission (“SEC”).

Proposals to eradicate the Board asserted vague concerns about the redundancy of its responsibilities with those of the SEC, and alleged resultant monetary waste. This Article, written in 2022, provides …

"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. …

Criminal Defenses In The Age Of Ai: An Examination Of How Technological Advancements Are Challenging Traditional Duress And Mistake Of Fact Defenses, Lauren Lepage

Honors Undergraduate Theses

AI has rapidly evolved into a defining force of modern life, transforming industries by automating tasks, streamlining workflows, and enhancing everyday experiences. However, the same advancements, especially in deepfakes, now enable highly convincing manipulation of audio, images, and video, blurring the line between truth and fabrication. As these technologies grow more accessible, they not only reshape digital interactions but also challenge core principles of criminal law and culpability. This research examines the rapid advancement of Artificial Intelligence (AI) and deepfake technology and analyzes the challenges they pose to traditional criminal defenses. Employing a doctrinal legal research approach, it evaluates statutory …

From Beginning To Center Field Spotlight: Celebrating 35 Years Of Nsli/Cas Olympic Sport & Arbitration, Richard Mclaren, Sammie Cheng

Marquette Sports Law Review

No abstract provided.