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Full-Text Articles in Law
"Keep To The Code”: A Global Code Of Conduct For Third-Party Funders, Victoria Sahani
"Keep To The Code”: A Global Code Of Conduct For Third-Party Funders, Victoria Sahani
Faculty Scholarship
Global commercial third-party funding has given rise to wide-ranging regulatory approaches worldwide. Consequently, funders can engage in cross-border regulatory arbitrage by exploiting regulatory gaps within and among nations. This Article argues that the global community of nations should articulate a universal approach to the behavioral expectations of third-party funders operating transnationally, independent of local laws regarding the technical business of funding. It asserts that the key to fostering the ethical development of the third-party funding industry is to develop a globally applicable but locally enforced code of conduct or professional responsibility for the industry. Moreover, a successful regime for funder …
Hidden Agendas In Shareholder Voting, Scott Hirst, Adriana Z. Robertson
Hidden Agendas In Shareholder Voting, Scott Hirst, Adriana Z. Robertson
Faculty Scholarship
Nothing in either corporate or securities law requires companies to notify investors what they will be voting on before the record date for a shareholder meeting. We show that, overwhelmingly, they do not. The result is “hidden agendas”: for 88% of shareholder votes, investors cannot find out what they will be voting on before the record date. This poses an especially serious problem for investors who engage in securities lending: they must decide whether the expected benefit of voting exceeds the expected benefit of continuing to lend their shares (or making them available for lending) without knowing what they will …