Digital Commons Network^™

Corporate Governance In An Era Of Compliance, Sean J. Griffith

William & Mary Law Review

Compliance is the new corporate governance. The compliance function is the means by which firms adapt behavior to legal, regulatory, and social norms. Formerly, this might have been conceived as a typical governance matter to be handled at the discretion of the board of directors. Compliance, however, does not fit traditional models of corporate governance. It does not come from the board of directors, state corporate law, or federal securities law. Compliance amounts instead to an internal governance structure imposed upon the firm from the outside by enforcement agents. This insight has important implications, both practical and theoretical, for corporate …

"Ev'ry American Experiment Sets A Precedent": Why One Florida State Court's Bitcoin Opinion Is Everyone's Business, Allison Caffarone, Meg Holzer

Journal of International Business and Law

July 22, 2016. A Florida state court dismisses a three-count information against a sole defendant in "a Miami money-laundering case that is being closely watched around the world." The defendant, a dealer of the virtual currency bitcoin, is free to go. He is also free to continue engaging in the sale of bitcoin. This "victory for bitcoin users" was the first state court case to address Bitcoin in the context of the money services business and anti-money laundering statutes. And on every front, the court got it wrong — while the world was watching. Federal and state prosecutors, defense attorneys, …

Cryptography: "Key Recovery" Shaping Cyberspace (Pragmatism And Theory), Kenneth P. Weinberg

Journal of Intellectual Property Law

No abstract provided.

Writing The Rules Of Attorney-Whistleblowing: Who Gets To Decide, And How Do We Make The Decision?, Alex Bein

Fordham Urban Law Journal

No abstract provided.

Inside Lawyers: Friends Or Gatekeepers?, Sung Hui Kim

Fordham Law Review

Part I of this Article sets the stage by contrasting two alternative proposals to reform the inside lawyer's role—my reform and Hamermesh's counterreform. Part II discusses the primary empirical disagreements between the two approaches. Part III interrogates the propriety and the utility of invoking the “lawyer as friend” analogy as a model to guide inside counsel's relationships with managers.

Collaborative Gatekeepers, Stavros Gadinis, Colby Mangels University Of California - Berkeley

Washington and Lee Law Review

In their efforts to hold financial institutions accountable after the 2007 financial crisis, U.S. regulators have repeatedly turned to anti-money-laundering laws. Initially designed to fight drug cartels and terrorists, these laws have recently yielded billion-dollar fines for all types of bank engagement in fraud and have spurred an overhaul of financial institutions’ internal compliance. This increased reliance on anti-money-laundering laws, we argue, is due to distinct features that can better help regulators gain insights into financial fraud. Most other financial laws enlist private firms as gatekeepers and hold them liable if they knowingly or negligently engage in client fraud. Yet, …

Appraising 9/11: 'Sacred' Value And Heritage In Neoliberal Times, Mateo Taussig-Rubbo

Journal Articles

On September 11, 2001, United Airlines Flight 93 — one of the four airplanes hijacked that day — crashed into a vacant parcel of land in rural Pennsylvania, killing all on board. For many, including family members of those killed in the attack and the Park Service that now manages the national memorial at the site, the former strip mine was transformed into ‘sacred’ ground. Unable to settle on a price with the landowner, in 2009 the government took the property through eminent domain. Focusing on the ongoing effort in United States of America v. 275.81 Acres of Land to …

The Undercover Detective Looks At Data Breach Contract Clauses: Who Should Be Responsible Under The Contract For Costs Of Cover, Jill Bronfman

South Carolina Law Review

No abstract provided.

The Lawyer's Duty Of Disclosure Ethics And Sarbanes-Oxley The New Conundrum For Patent Lawyers, Abraham C. Reich, Steven J. Rocci

Akron Intellectual Property Journal

The general purpose of this paper is to sensitize intellectual property lawyers to the potential impact on their practice created by Sarbanes-Oxley. At a more detailed level, and because of the unique challenges facing them, this paper addresses Sarbanes-Oxley's potential impact on patent lawyers who practice before the PTO, even when it is the patent lawyer's sole practice. To that end, this paper will highlight relevant portions of Rule 56, the relevant ethical code sections, and the pertinent considerations under Sarbanes-Oxley.

Expanding Local Enforcement Of State And Federal Consumer Protection Laws, Kathleen S. Morris

Fordham Urban Law Journal

This Article calls on Congress and the state legislatures to grant large cities and counties standing to enforce the Federal Trade Commission Act (the FTC Act) and its state statutory counterparts (or little Acts). The FTC Act, a federal law, prohibits businesses from engaging in any “unlawful,” “unfair,” or “deceptive” acts or practices, and the little Acts apply similarly broad prohibitions in all fifty states. This fifty-one-statute consumer protection regime—which has been the law of the land for several decades—carries enormous promise to halt a wide range of unlawful and harmful corporate practices in their earliest stages. Unfortunately, that promise …

Do Automated Trading Systems Dream Of Manipulating The Price Of Futures Contracts? Policing Markets For Improper Trading Practices By Algorithmic Robots, Gregory Scopino

Florida Law Review

This Article seeks to determine if the CFTC needs new tools to combat disruptive, manipulative, or otherwise harmful trading practices that originate solely from the “minds” of ATSs. Part I of this Article provides a brief regulatory background of the derivatives markets, then examines the increased automation in those markets today, and concludes by looking at the CFTC’s initial responses to the issues raised by automation. Part II briefly looks at the law concerning different mental states for causes of action. Part III examines the CFTC’s pre and post-Dodd–Frank Act tools to police disruptive and manipulative trading practices, which are …

Misconduct Risk, Christina Parajon Skinner

Fordham Law Review

Financial misconduct and systemic risk are two critical issues in financial regulation today. However, for the past several years, financial misconduct and systemic risk have received markedly different treatment. After the global financial crisis, regulators responded to the traditional quantitative risks that banks pose—those found on their balance sheets and in their business models—with sweeping reforms on an internationally coordinated scale. Meanwhile, with respect to misconduct, regulators have reacted with a traditional enforcement approach—imposing fines and, in some cases, prosecuting individual malefactors. Yet misconduct is not only an isolated or idiosyncratic risk that can be spot treated with enforcement: misconduct …

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

Cornell International Law Journal

No abstract provided.

Timber! The Sec Falls Hard As The Georgia District Court In Timbervest Finds The Appointment Of The Sec Aljs "Likely Unconstitutional", Moses M. Tincher

Mercer Law Review

The higher you go, the harder you fall. This simple, yet powerful, adage could not be more apt regarding the recent rise and fall in power of the United States Securities and Exchange Commission (SEC). The rise began in 2010 when Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), giving the SEC new power over its administrative proceedings. Using this new power, the SEC brought more insider-trading and highly contested cases before specially hired administrative law judges (ALJs), who conduct these administrative proceedings. This "home-court" advantage corresponded with the SEC's enforcement division enjoying an 86%, …

Are We Heading Toward A Charter School "Bubble"?: Lessons From The Subprime Mortgage Crisis, Preston C. Green Iii, Bruce D. Baker, Joseph O. Oluwole, Julie F. Mead

University of Richmond Law Review

No abstract provided.

Whistleblowers And Financial Innovation, Christina Parajon Skinner

North Carolina Law Review

No abstract provided.

Skilling Reconsidered: The Legislative-Judicial Dynamic, Honest Services, Fraud, And The Ill-Conceived "Clean Up Government Act", J. Kelly Strader

Fordham Urban Law Journal

No abstract provided.

Introduction: Examining White Collar Crime With Trifocals, Ellen S. Podgor

Fordham Urban Law Journal

No abstract provided.

Skilling: More Blind Monks Examining The Elephant, Julie Rose O'Sullivan

Fordham Urban Law Journal

No abstract provided.

Victimization On Main Street: Occupy Wall Street And The Mortgage Fraud Crisis, Sandra D. Jordan

Fordham Urban Law Journal

No abstract provided.

Yates V. United States: Floundering About In The Choppy Waters Of Statutory Interpretation, Lindsay Defrancesco

Maryland Law Review

No abstract provided.

The Regulation Of Commercial Profiling — A Comparative Analysis, Indra Spiecker, Olivia Tambou, Paul Bernal, Margaret Hu, Carlos Alberto Molinaro

Scholarly Articles

The authors, all data protection experts, discuss the status of the relevant data protection regulatory framework on profiling in the business sector in sev eral countries worldwide, from the constitutional level to some individual regulation including the general attitude towards the topic. The EU perspective is presented on the basis of the present directives as well as the General Data Protection Regulation. The United Kingdom, Germany and France, as three of the largest EU Member States with partly highly differing regulatory approaches represent Member State law. Australia, Brazil and the US regulation exemplify the different integration of data protection standards …

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 …

The New Corporate Gatekeeper, Peter J. Henning

Law Faculty Research Publications

No abstract provided.

The Modernization Of European Insolvency Law: An Ongoing Process, Paolo Manganelli

Journal of Business & Technology Law

No abstract provided.

Guilty Until Proven Innocent: A Comparative Analysis Of Organized Crime Laws In The United States, Italy, Japan, And Ecudor, Christina M. Strompf

ILSA Journal of International & Comparative Law

“[T]he ‘relative power’ of criminal networks will continue to rise, and some countries could even be taken over and run by these networks.”1 The Federal Bureau of Investigation (FBI) defines “organized crime” as “any group having some manner of formalized structure and whose primary objective is to obtain money through illegal activities.

Reining In Private Agents, Amitai Etzioni

Minnesota Law Review Headnotes, Vols. 94-106 (2009-2022)

No abstract provided.

Economic Ideology And The Rise Of The Firm As Criminal Enterprise, June Carbone, William K. Black

Faculty Works

No abstract provided.

Federal Government As Your Partner: What Advocates Should Know About Federal Resources For Veterans' Legal Aid, Allie Yang-Green, Karen Lash

South Carolina Law Review

No abstract provided.

Prison Corruption: The Problem And Some Potential Solutions, Center For The Advancement Of Public Integrity

Center for the Advancement of Public Integrity (Inactive)

Corruption occurs in the American prison system in a variety of forms. In the most basic version, correction officers accept bribes or sexual favors to smuggle weapons, drugs, or cell phones to inmates, or to provide inmates with other benefits. Other kinds of prison corruption can involve higher-level prison officials. For example, some prison officials have been implicated in pay-to-play schemes with private prisons. In other cases prison supervisors and administrators have been accused of covering up violations by correction officers or others within the prison, such as by shielding human rights abuses.