Digital Commons Network^™

Self-Regulation For The Mortgage Industry, M. Todd Henderson

Coase-Sandor Institute for Law & Economics Research Paper Series

This Article proposes an alternative to direct government regulation of mortgage brokers: self-regulation of the mortgage industry that mimics the arguably successful self-regulation of the securities industry that has occurred over the past two centuries. Although not without its problems, self-regulation of securities brokers operates more efficiently than government regulation. For example, self-regulation allows for industry expertise to be deployed at low cost and is built on trust and reciprocity, which reduce enforcement costs. In addition, self-regulation locates power at its smallest point and encourages efficient resolution of disputes by ensuring commensurable regulatory intervention. Most crucially for the mortgage industry, …

Common Sense And Civic Virtue: Institutional Investors, Responsible Ownership, And The Democratic Ideal, Marcy Murninghan

New England Journal of Public Policy

On matters of governance, the people’s good is the highest law, as Cicero said two millennia ago. Unfortunately, these days personal greed has trumped the people’s good, enflaming the current governance crisis affecting our public, nonprofit, and private spheres. The spate of corporate governance scandals over the past several years jeopardizes equity investments, harms beneficiaries, and weakens global capital markets. The remedy is not just more laws and regulation but revitalization of the system of corporate checks and balances that already exists. To get better corporate governance, corporate shareowners, especially institutional investors, need to assert their rights and responsibilities more …

Federal White Collar Sentencing In The United States: A Work In Progress , Daniel Richman

Law and Contemporary Problems

No abstract provided.

Who Wants To Watch? A Comment On The New International Paradigm Of Financial Consumer Market Regulation, Toni Williams

Seattle University Law Review

This Article explores the capacity of the G20’s model of financial consumer protection to reconfigure relationships between financial firms and consumers, focusing in particular on the market conduct of financial firms. Although this Article does not focus directly on Adolf A. Berle’s work, it does engage with some of his enduring concerns about economic relations between corporations, regulators, and individuals; the socialcontext of those economic relations; and the role of law and legal regulation in shaping market relations. More specifically, this Article considers new international regulatory principles related to corporate social responsibility— a recurring theme of Berle’s work11—in the somewhat …

Inequities In Corporate And Securities Law: Disabling The Exploitative Chinese Corporation And Charting A Path To International Commercial Accountability, Jonathan P. Schmidt

San Diego International Law Journal

This article seeks to illuminate these issues and provide a roadmap for the U.S. federal and state legislatures to come together to protect the U.S. investor from the type of accounting fraud and stock misinformation that was the impetus behind enacting the Sarbanes-Oxley Act of 2002. First, this article will discuss the legal backdrop and legislative policy behind U.S. laws such as SOX and its enforcement mechanisms, and the ability for shareholders to bring securities class action derivative actions for financial fraud. This article will also discuss trade secrets laws, criminal extradition treaties, international enforcement of judgments, and elucidate the …

Please Be Delicate With My Permanent Record: The Pendulum Inches Towards Absolute Privilege In Merkam V. Wachovia, Joseph W. Catuzzi

Villanova Law Review (1956 - )

No abstract provided.

Cleaning Up The Financial Crisis Of 2008: Prosecutorial Discretion Or Prosecutorial Abdication?, David J. Reiss, Bradley T. Borden

Faculty Scholarship

No abstract provided.

The Role Of Forensic Accounting In Detecting Financial Fraud, Nsaif Jasim ‎Aljbwry, Salah Hadi Mohammed Al_Khalidi

Journal of Economics and Administrative Sciences

A Forensic Accounting is represent science that deals with the application of knowledge in the areas of accounting, finance, tax and audit for the analysis, investigation, inquiry, inspection and testing issues in the civil law and criminal law in an attempt to reach the truth through which enable the Forensic Accountant to provide his Expert opinion , forensic accounting plays a major role by providing a range of important services in the field of investigation for fraud and litigation support, As one of the most important legal and accounting functions is to investigate allegations of alleged by the related parties, …

Preventing Money Laundering: Key To A Better World, Brenda Martinez

Undergraduate Theses and Capstone Projects

Money laundering has developed over recent decades and has evolved into a worldwide phenomenon. Virtually every country in the world is affected by money laundering. The methodology of money laundering exists in every fraud scheme. It involves the concealed transfer of assets by masking them in the ordinary normalcy of financial transactions. Money laundering is a criminal enterprise, with the emphasis on the business aspect. The attraction of perpetrators into the money laundering business is profit with little perceived risks. This paper discusses money laundering, how to define it, its origins, the cycle, its effects, prevention methods, and what the …

Renshaw V. Mortgage Electronic Registration Systems Clerk's Record V. 1 Dckt. 40512

Idaho Supreme Court Records & Briefs, All

No abstract provided.

Heroes For Our Time: Going Beyond Ethical Codes, Thomas D. Morgan

Vol. 3: Religious Conviction

This J. Reuben Clark Law School convocation address was given at the Provo Tabernacle on April 24, 1992.

Naked Self-Interest? Why The Legal Profession Resists Gatekeeping, Sung Hui Kim

Florida Law Review

This Article asks and answers the following question: why does the legal profession resist gatekeeping? Or, put another way, why do lawyers resist duties that require them to act to avert harm to their corporate client, its own shareholders, and-possibly-the capital markets? While acknowledging that the economic self-interest of the profession is an undeniable force fueling the bar’s opposition to gatekeeping, this Article argues that the characterization of naked rent-seeking behavior is too simplistic. It argues that economic self-interest exerts a more subtle influence than the conventional story would suggest. In addition, the legal profession’s resistance to gatekeeping is grounded …

Bringing Darkness To Light: The Influence Of Auditor Quality And Audit Committee Expertise On The Timeliness Of Financial Statement Restatement Disclosures, Jaime Schmidt, Michael S. Wilkins

School of Business Faculty Research

This study investigates whether auditor quality and audit committee expertise are associated with improved financial reporting timeliness as measured by the duration of a financial statement restatement’s ‘‘dark period.’’ The restatement dark period represents the length of time between a company’s discovery that it will need to restate financial data and the subsequent disclosure of the restatement’s effect on earnings. For a sample of dark restatements disclosed between 2004 and 2009, we find that companies that engage Big 4 auditors have shorter dark periods than companies that do not engage Big 4 auditors. We also find that companies with more …

Who Qualifies As An Audit Committee Financial Expert Under Sec Regulations And Nyse Rules?, Lawrence J. Trautman

DePaul Business & Commercial Law Journal

No abstract provided.

China Under The New Leadership, Hsin-Chi Kuan

Maryland Series in Contemporary Asian Studies

No abstract provided.

Bending Rules And Breaking Hearts: The Postville Raid And Its Constitutional Shortcomings, Raeann Swanson

Graduate Student Work

Prior to May 2008, Postville, like many other small towns in Iowa, was relatively obscure. The town's claim to fame had been Stephen Bloom's Postville: A Clash of Culture in the Heartland published in 2000 and the corresponding PBS documentary "Postville: When Cultures Collide. Both highlighted the growing diversity as Hasidic Jews made Postville their home, a shtetl in rural Iowa. The Rubashkin family brought rabbis and their families to Postville in 1987 in order to reopen the defunct Hygrade building as a kosher slaughterhouse and meatpacking plant. As the newly named Agriprocessors grew, managers sought employees who were willing …

Texts, Lies, And Identity Theft: Prosecuting Complex Financial Fraud With Minnesota's Racketeering Statute, Thomas G. Sinas

William Mitchell Law Review

No abstract provided.

2013 Law School Application Pamphlet, University Of Michigan Law School

Miscellaneous Law School History & Publications

Pamphlet with information about the University of Michigan Law School and how to apply for admission.

Queuepay.Com: Building A System For Cardholders' Transaction Security, Jose Ramon Gonzalez

Theses Digitization Project

The purpose of this project was to apply the skills learned in the MBA program to help develop a solution to a problem that costs billions of dollars every year in fraudulent related losses arising from the use of payment cards such as debit cards, credit cards, charge cards or prepaid cards. The project analyzes the industry of payment cards, the emergence of the problem, and builds a prototype that addresses the problem. Queuepay.com is designed to provide services to its cardholders that will significantly reduce the risk of fraud.

Marshall Magazine Winter 2013, Marshall University

Marshall Magazine

No abstract provided.

Self-Regulation For The Mortgage Industry, M. Todd Henderson

Articles

No abstract provided.

Advance Health Care Directives: Problems And Solutions For The Elder Law And Estate Planning Practitioner, Brooke M. Benzio

St. Thomas Law Review

"Remember that what you possess in the world will be found at the day of your death to belong to some one else; but what you are, will be yours forever. "' -Henry Van Dyke.

Since the modem movement for patient autonomy began gathering steam in the 1900s, individual concerns about the purpose, nature, and quality of medical care have become a larger component of the practice of medicine. However, state and federal law has been relatively slow to respond, and establishment of the relevant legal framework is relatively recent. New Jersey courts led the charge with their decision in …

Control Fraud In America: Are We Structurally Encouraging Control Fraud?, Emmanuel J. Connell

Senior Honors Theses and Projects

Control fraud, defined as a criminal in control of a company using it as a weapon and shield to defraud others and makes it difficult to detect and punish the fraud, has become a social epidemic (Black, 2005, 1); (Wheeler & Rothman, 1982, 1403). Since the savings and loans scandal of the 1980's, control frauds have been looting and manipulating others virtually unchallenged by any government regulatory agencies. White collar control frauds cause billions of dollars in damage to the public annually, while that of street crime causes far less damage in the range of millions. Despite the disparity in …

Texas Annual Survey: Securities Regulation, George Lee Flint Jr

Faculty Articles

The Fifth Circuit’s determination of a passive investor’s equity interest in a limited liability company as “securities” brings this class of investors under the protection of the Texas Securities Act (“TSA”). The TSA recognizes vicarious liability theories of aiding and abetting liability and control person liability, which hold secondary parties accountable for their actions. During the Survey period, several cases found secondary parties with positions of control or who met the elements of common law fraud culpable. In Fernea v. Merrill Lynch Pierce Fenner & Smith, Inc., the court found that a business could be liable for an employee’s actions …

Deferred Prosecution And Non-Prosecution Agreements And The Erosion Of Corporate Criminal Liability, David M. Uhlmann

Maryland Law Review

No abstract provided.

The Role Of Mediation And Insurance In Bet The Company Litigation, Jed Melnick

Cardozo Journal of Conflict Resolution

When most of us graduate from law school, we are not able to read or understand our own car insurance policy, and yet the resolution of most commercial litigation would not happen without the involvement of insurance. The reality is that, in the context of class actions and "bet the company" litigation, insurance is usually the sole source of funds used to resolve the dispute. What follows is the transcript from a panel discussion that took place on February 9, 2012 at Cardozo Law School entitled, "The Role of Mediation and Insurance in Bet the Company Litigation." The idea behind …

White Collar Overcriminalization: Deterrence, Plea Bargaining, And The Loss Of Innocence, Lucian E. Dervan

Kentucky Law Journal

No abstract provided.

Securities Regulation, George Lee Flint Jr.

SMU Law Review

No abstract provided.

Fiddling On The Roof: Recent Developments In Cybersecurity, Melanie J. Teplinsky

American University Business Law Review

No abstract provided.

Cleaning Up The Financial Crisis Of 2008: Prosecutorial Discretion Or Prosecutorial Abdication?, Bradley T. Borden, David J. Reiss

Cornell Law Faculty Working Papers

When finance professionals play fast and loose, big problems result. Indeed, the 2008 Financial Crisis resulted from people in the real estate finance industry ignoring underwriting criteria for mortgages and structural finance products. That malfeasance filled the financial markets with mortgage-backed securities (MBS) that were worth a small fraction of the amount issuers represented to investors. It also loaded borrowers with liabilities that they never had a chance to satisfy.

Despite all the wrongdoing that caused the financial crisis, prosecutors have been slow to bring charges against individuals who originated bad loans, pooled bad mortgages, and sold bad MBS. Unfortunately, …