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Articles 1 - 2 of 2
Full-Text Articles in Law
The Perfect Storm: A Look At The Robinhood Shutdown And The Shady Security Practices Of Payment For Order Flow, Gamification, And Clickwrap Agreements, Justin M. Taylor
The Perfect Storm: A Look At The Robinhood Shutdown And The Shady Security Practices Of Payment For Order Flow, Gamification, And Clickwrap Agreements, Justin M. Taylor
University of Massachusetts Law Review
SEC guidelines and Federal Courts have stated, and recently upheld, that brokerdealers do not owe a fiduciary duty to retail investors if they do not provide them with investment advice, but this opens up retail investors to significant and costly mistreatment by financial institutions with no avenue for recourse. Using payment for order flow, gamification, and click-wrap agreements by broker-dealers creates a conflict of interest between themselves and the retail investors they act on behalf of. This article argues that retail investors should have an avenue of recourse against financial institutions when they breach their duty to these investors by …
Neither A Borrower Nor A Lender Be: Analyzing The Sec’S Reaction To Crypto Lending, Carol R. Goforth
Neither A Borrower Nor A Lender Be: Analyzing The Sec’S Reaction To Crypto Lending, Carol R. Goforth
University of Massachusetts Law Review
In June 2021, the largest U.S.-based crypto exchange, Coinbase, announced plans to allow its customers to earn 4% interest on deposits of certain cryptoassets through a new “Coinbase Lend” program. Despite a positive reaction from its customers, on September 7, 2021, Coinbase announced it had received a notice from the Securities and Exchange Commission (SEC) to the effect that the Commission had preliminarily concluded that the proposed Lend program was a security and that Coinbase would be in violation of the federal securities laws if it proceeded. The threat of enforcement caused Coinbase to terminate the program. Shortly thereafter, in …