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Let‘S Put The Fear In The Fera! Suggestions To Make The Fraud Enforcement And Recovery Act Of 2009 A Strong Fraud Deterrent, Jim Moye

Southern Illinois University Law Journal

In 2009, Congress passed the Fraud Enforcement Recovery Act to combat the recent surge in fraud.  This article reviews the major fraud cases of the last two years, including healthcare fraud, mortgage fraud, and improper pharmaceutical labeling.  It then argues that, although FERA was a valiant attempt by the federal government to address the surge in fraudulent behavior, the law did not go far enough to dissuade such behavior.  The author proposes stronger measures, such as permanently banning FERA violators from federal contract and program consideration, increasing the financial liability of those violating the law to reflect the full financial …

Investors And Employees As Relief Defendants In Investment Fraud Receiverships: Promoting Efficiency By Following The Plain Meaning Of "Legitimate Claim Or Ownership Interest", Jared A. Wilkerson

W&M Law Student Publications

Relief defendants are nominal, innocent parties who hold funds traceable to the receivership but have no legitimate claim or ownership interest in them. These nominal parties, as opposed to full or primary defendants, have no cause of action asserted against them, and if they show no legitimate claim to the funds traced to the receivership, the funds are disgorged — generally at summary judgment. This seemingly simple relief defendant tool is used by receivers and regulatory agencies to quickly recover receivership funds for ultimate distribution to creditors. Recently, however, conflict has arisen in federal courts concerning the meaning of “legitimate …

The Utah Statesman, February 7, 2011, Utah State University

The Utah Statesman

Weekly student newspaper of Utah State University in Logan.

Using Business Students ' Precepts To Predict Ethical Decision Making, Wally Guyot Ph.D., Robert Meier Ph.D., Reginald L. Bell

Journal of Business & Leadership: Research, Practice, and Teaching (2005-2012)

A 13-item questionnaire was administered to 259 business students on two college campuses, with a combined population of 1,872, to determine if religious affiliation, upbringing, profession, college major and several other independent variables (labeled precepts) could be used to predict students' perceptions of some main problems of philosophy. Stepwise multiple regression models revealed several significant differences, with p

The False Claims Act And The Eroding Scienter In Healthcare Fraud Litigation, Richard Doan

Annals of Health Law and Life Sciences

This article addresses the federal government's expansive methods in tackling healthcare fraud, particularly in misapplying the False Claims Act. Although tasked with the obligation to curtail the fraudulent submission of Medicare & Medicaid claims, the U.S. government must rein in the current trend to utilize the False Claims Act against smaller medical providers. As the Act's original focus has ebbed in significance, the government has increasingly applied the False Claims Act to circumstances that do not evince actual fraud. In doing so, federal courts have effectively eroded the statute's critical scienter requirement. The federal common-law doctrines of "payment by mistake" …

The Evolutionary Biology Of Fungi And Fraud, Wendy Gerwick Couture

Articles

In this Article, the authors-a law professor and a biologist-offer a fresh perspective on the use of broad federal fraud statutes to combat fraud by drawing a comparison with the use of multi-site fungicides to combat plant disease. Multi-site fungicides are effective at preventing the evolution of resistant strains of fungi, but they are subject to increased regulatory scrutiny amid concerns about off-target toxicity. Similarly, broad fraud statutes serve as a stopgap to prevent the evolution of new types of fraud, but they are widely criticized as unduly vague and as interfering with the operation of specific fraud statutes. Biologists' …

Indemnification And Advancement Through An Agency Lens, Deborah A. Demott

Law and Contemporary Problems

DeMott discusses the doctrines that define entitlements to indemnification. In the corporate context, indemnification is better grounded, as in the Model Business Corporation Act (MBCA), in the necessity of furnishing corporate directors with appropriate protection against personal risk. To be sure, as the MBCA's official comments implicitly acknowledge, the position of officers, especially senior executive officers, does not fit neatly and exclusively into either an "agent" or a "non-agent" category for indemnification purposes.

Concerning A Supplemental Appropriation To The Department Of Public Safety., Colorado General Assembly

Session Laws 2001-Present

No abstract provided.

Subject Index, Colorado General Assembly

Session Laws 2001-Present

No abstract provided.

The Future Of Hedge Fund Regulation: A Comparative Approach: United States, United Kingdom, France, Italy, And Germany, Anne Riviere

Richmond Journal of Global Law & Business

No abstract provided.

Transnational Securities Fraud And The Extraterritorial Application Of U.S. Securities Laws: Challenges And Opportunities, Genevieve Beyea

Global Business Law Review

With globalization, securities markets have become increasingly interconnected, and securities fraud has frequently crossed borders, creating problems for national regulators seeking to deter and punish fraud. The United States’ well-developed private enforcement mechanism for securities fraud is very attractive to investors around the world who are harmed by transnational securities fraud, particularly those from countries where private enforcement mechanisms do not exist or fraud is under-regulated. The application of U.S. securities law to foreign investors, however, presents a number of challenges, creating the potential for both under and overregulation as well as possible conflict with the regulatory systems of other …

The Abraham L. Pomerantz Lecture: Don't Blink: Snap Decisions And Securities Regulation, Frank Partnoy

Brooklyn Law Review

No abstract provided.

Corporate Corruption & The New Gold Mine: How The Dodd-Frank Act Overincentivizes Whistleblowing, Jenny Lee

Brooklyn Law Review

No abstract provided.

The Tenth Annual Albert A. Destefano Lecture On Corporate, Securities & Financial Law. Corporate Accountability: Governance And Compensation Issues, Stanley Sporkin, Todd Lang, Gary Naftalis, Jeffrey Sonnenfeld, Louise Story

Fordham Journal of Corporate & Financial Law

CORPORATE ACCOUNTABILITY: GOVERNANCE AND COMPENSATION ISSUES

An Exploratory Study Of The Curricular Integration Of Ethics In Executive Mba Programs, Jaime M. Franco

Dissertations

An Exploratory Study of the Curricular Integration of Ethics in Executive MBA Programs

News headlines of corporate scandals have unleashed a contentious debate of whether or not graduate management education has contributed to corporate collapses and the resultant financial crisis. In particular, questions abound as to the willingness of Executive MBA program (EMBA) administrators and faculty to integrate ethics into the curriculum.

A sizable amount of research has been conducted and published on the curricular integration of ethics in graduate management education. Unfortunately, very little is known about the curricular integration of ethics in EMBA programs. Over time, the number …

Concerning A Supplemental Appropriation To The Department Of Regulatory Agencies., Colorado General Assembly

Session Laws 2001-Present

No abstract provided.

Index, Colorado General Assembly

Session Laws 2001-Present

No abstract provided.

Concerning The Repeal Of The "Identity Theft And Financial Fraud Deterrence Act"., Colorado General Assembly

Session Laws 2001-Present

No abstract provided.

The Business Of Turning Rookies Into "Professional" Day-Traders: A Call For Improved Regulation Of Day-Trading Training Firms, Sandra Gotlaufa

California Western Law Review

No abstract provided.

Outsourcing Fraud Detection: The Analyst As Dodd-Frank Whistleblower, Luke Roosevelt Hornblower

Journal of Business & Technology Law

No abstract provided.

Did Board Configuration Matter? The Case Of Us Subprime Lenders, Maureen I. Muller-Kahle, Krista B. Lewellyn

Management Faculty Publications

Research Question/Issue: The origins of the global financial crisis have been attributed to the combination of a housing price bubble and innovative financial instruments, as well as the lack of restraint by corporate executives and boards to engage in excessive risk-taking. The rise in subprime lending between 1997 and 2005 played a crucial role in inflating the housing price bubble. We take a unique dataset of US financial institutions heavily engaged in subprime lending and ask the following research question: Did board configuration play a role in determining whether a financial institution specialized in subprime lending?

Research Findings/Insights: We use …

A 2011 Investigation Into Remnant Data On Second Hand Memory Cards Sold In Australia, Patryk Szewczyk, Krishnun Sansurooah

Australian Digital Forensics Conference

The use of memory cards is widely used in numerous electronic devices including tablet computers, cameras, mobile phones and multimedia devices. Like a USB drive, memory cards are an inexpensive and portable persistent storage solution. Numerous manufactures are incorporating a memory card interface into their product, allowing for a large array of confidential data to be stored. This research aimed to determine the sensitivity, type and amount of data that remained on second hand memory cards post sale. In 2011, over an eight month period, 119 second hand memory cards were randomly purchased from eBay Australia. The findings from the …

United States V. Nacchio: The Tenth Circuit’S Civil Approach To Sentencing For Insider Trading, Amy Dominick Padgett

Oklahoma Law Review

No abstract provided.

Credit-Monitoring Damages In Cybersecurity Tort Litigation, Vincent R. Johnson

Faculty Articles

When someone improperly accesses or discloses an individual’s personal information, the subject of that data breach is often at an increased risk of identity theft. One way for an affected data subject to guard against this risk is to subscribe to a credit-monitoring service. Recently, potential cybersecurity defendants have provided credit-monitoring services to affected data subjects voluntarily, and courts have approved credit-monitoring compensation as part of class-action settlements. These developments demonstrate that credit-monitoring expenditures are both reasonable and necessary when a serious breach of data security occurs. Furthermore, the economic loss rule should not bar recovery of credit-monitoring damages because …

The Dodd-Frank Wall Street Reform And Consumer Protection Act: What Caused The Financial Crisis And Will Dodd-Frank Prevent Future Crises, Charles W. Murdock

SMU Law Review

No abstract provided.

The Political Economy Of Fraud On The Market, William Wilson Bratton, Michael L. Wachter

Articles

The fraud-on-the-market class action no longer enjoys much academic support. The justifications traditionally advanced by its defenders-compensation for out-of-pocket loss and deterrence of fraud-are thought to have failed due to the action's real world dependence on enterprise liability and issuer-funded settlements. The compensation justification collapses when considered from the point of view of different types of shareholders. Well-diversified shareholders' receipts and payments of damages balance over time and amount to a wash before payment of litigation costs. The shareholders arguably in need of compensation--fundamental value investors who rely on published reports--are undercompensated due to pro rata distribution of settlement proceeds …

The Rise In Elder Bankruptcy Filings And The Failure Of U.S. Bankruptcy Law, John A. E. Pottow

Articles

Recent empirical legal scholarship on the consumer bankruptcy system has uncovered a marked rise in the proportion of elder Americans filing for relief under the Bankruptcy Code. But these studies have not probed the reasons behind that rise, an omission this Article seeks to address. Professor John Pottow and colleagues recently assembled the new dataset of the Consumer Bankruptcy Project (CBP), the largest national sample of consumer debtors in this country, which he uses to explore the sources of elder bankruptcy. The findings are both striking and ominous. While multiple factors, such as health problems and medical debts, contribute to …

Breaking Past The Parallax: Finding The True Place Of Lawyers In Securities Fraud, Marianne C. Adams

Fordham Urban Law Journal

Lawyers often play an integral part in business transactions and securities offerings. This puts lawyers on the sidelines of not only great business successes, but also, every so often, tremendous failures. Because they are viewed by many as gatekeepers, and in that role provide a degree of assurance (with their reputational capital) that gross illegalities will not occur, a series of questions arise in the minds of many when illegalities do happen on attorneys’ watch. This Note analyzes the legal standards that are in play and those that should be imposed when lawyers aid or abet a fraud. Part I …

Back Matter

Seidman Business Review

No abstract provided.

Racial Coding And The Financial Market Crisis, Andre Douglas Pond Cummings

Utah Law Review

The financial market crisis of 2008 literally invites interrogation of sacred economic traditions in the United States. A near total collapse of the global capital markets signals genuine problems with American capitalism and the neoclassical economics modeling so prevalent today. Yet, we are largely failing the invitation to critically examine the underlying economic principles our markets are currently based upon. One reason that we are failing the invitation to challenge our classic capitalist underpinnings is because many of the entrenched elite in the United States have misdirected our attention. When a massive failure in the private markets nearly collapses the …