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Full-Text Articles in Law
Downstream Securities Regulation, Anita Krug
Downstream Securities Regulation, Anita Krug
All Faculty Scholarship
Securities regulation wears two hats. Its “upstream” side governs firms in connection with their obtaining financing in the securities markets. That is, it regulates firms’ and issuers’ offers and sales of securities, whether in public offerings to retail investors or in private offerings to institutional investors. Its “downstream” side, by contrast, governs financial services providers, who assist with investors’ activities in those markets. Their services include providing advice regarding securities investments, as investment advisers do; aggregating investors’ assets for purposes of enabling those investors to invest their assets collectively, as mutual funds do; and acting as “middlemen” between buyers and …
Tracing, Peter B. Oh
Tracing, Peter B. Oh
Articles
Tracing is a method that appears within multiple fields of law. Distinct conceptions of tracing, however, have arisen independently within securities and remedial law. In the securities context plaintiffs must trace their securities to a specific offering to pursue certain relief under the Securities Act of 1933. In the remedial context victims who trace their misappropriated value into a wrongdoer's hands can claim any derivative value, even if it has appreciated.
This article is the first to compare and then cross-apply tracing within these two contexts. Specifically, this article argues that securities law should adopt a version of the rules-based …
Regulation A: Small Businesses’ Search For “A Moderate Capital”, Rutheford B. Campbell Jr.
Regulation A: Small Businesses’ Search For “A Moderate Capital”, Rutheford B. Campbell Jr.
Law Faculty Scholarly Articles
Small businesses are an important part of our national economy, accounting for as much as 40% of our total economic activity and providing society with important services and products.
Small businesses face daunting economic, structural, and legal impediments when they attempt to acquire external capital. The absence of financial inter-mediation services means that they are almost always on their own to find investors. Their small capital needs mean that their relative offering costs are often sky high. Federal and state securities rules significantly exacerbate these economic and structural disadvantages by imposing onerous and unwarranted conditions on their search for external …
Securities Market And Securities Regulations In China, Fengxia Dai
Securities Market And Securities Regulations In China, Fengxia Dai
LLM Theses and Essays
China is a large developing country with a socialist ideology that is currently undergoing a period of reform and transformation. In December 1990, China opened its first national securities market - the Shanghai Securities Exchange. This was soon followed in November 1991 by the first special shares denominated in foreign currencies and sold only to overseas investors. These important steps in the development of China’s securities industry indicate commitment by Chinese authorities to the two key components of the nation’s economic reform program - economic systemic reform, and opening to the outside world. China’s securities market and securities regulations contain …