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Articles 1 - 7 of 7
Full-Text Articles in Law
Opening The Gate To Money Market Fund Reform, Hester Peirce, Robert Greene
Opening The Gate To Money Market Fund Reform, Hester Peirce, Robert Greene
Pace Law Review
This article proceeds as follows. Part I outlines briefly the background of MMFs. Part II discusses the role of the board of directors in governing MMFs, a role upon which our proposal would build. Part III discusses MMF-related events during the financial crisis of 2007-2008 and describes the government’s response to these events. Part IV describes the reforms the SEC instituted in 2010. Part V outlines options for further reform. Part VI outlines and discusses benefits and drawbacks of our proposed solution—unrestricted discretionary gating by fund boards. Part VII concludes.
Limits Of Disclosure, Steven M. Davidoff, Claire A. Hill
Limits Of Disclosure, Steven M. Davidoff, Claire A. Hill
Steven Davidoff Solomon
One big focus of attention, criticism, and proposals for reform in the aftermath of the 2008 financial crisis has been securities disclosure. Many commentators have emphasized the complexity of the securities being sold, arguing that no one could understand the disclosure. Some observers have noted that disclosures were sometimes false or incomplete. What follows these issues, to some commentators, is that, whatever other lessons we may learn from the crisis, we need to improve disclosure. How should it be improved? Commentators often lament the frailties of human understanding, notably including those of everyday retail investors—people who do not understand or …
Trading Away Human Rights, Kaitlin Y. Cordes, Olivier De Schutter
Trading Away Human Rights, Kaitlin Y. Cordes, Olivier De Schutter
Columbia Center on Sustainable Investment Staff Publications
Trade negotiators in Singapore recently failed to finalize a deal on the long-awaited Trans-Pacific Partnership; they will soon have another chance to complete what would be the world’s largest regional free-trade agreement. But, given serious concerns that the TPP will fail to consider important human-rights implications, that is no cause for celebration.
What Role Can An International Financial Centre’S Law Play In The Development Of A Sunrise Industry? The Case Of Hong Kong And Solar Powered Investments, Bryane Michael
Bryane Michael (bryane.michael@stcatz.ox.ac.uk)
How can international financial centres like Hong Kong increase assets under management – and thus their size and ranking? Most policymakers and their advisors wrongly answer this question by focusing on financial institutions, and the law that governs them. Instead, policymakers need to start by looking at actual markets. What new tastes and technologies need funding? How can such funding fit into already existing geographies of production, distribution and finance? In this paper, we show how a focus on funding sunrise industries can help increase assets under management for the financial institutions operating in an international financial centre like Hong …
Assessing Hong Kong As An International Financial Centre, Bryane Michael
Assessing Hong Kong As An International Financial Centre, Bryane Michael
Bryane Michael (bryane.michael@stcatz.ox.ac.uk)
How can Hong Kong hope to catch up to London and New York as an international financial centre? Close ties with the Mainland result in financial fragility which could decrease Hong Kong's prospects as a financial centre in the longer term. In this paper, we review Hong Kong's dependence on the Mainland's economy. We provide 21 recommendations for strengthening Hong Kong's banking and securities markets.
Objectives-Based Twin-Peaks Financial Regulation In Hong Kong, Bryane Michael, Say Goo, Dariusz Wojick
Objectives-Based Twin-Peaks Financial Regulation In Hong Kong, Bryane Michael, Say Goo, Dariusz Wojick
Bryane Michael (bryane.michael@stcatz.ox.ac.uk)
Objectives-based legislation – or laws which focus on achieving particular and concrete outcomes – has become a new and important tool that financial sector regulators use to tackle large and varied financial system risks. Yet, objectives-based legislation – and the frequent principles-based regulation underpinned by such legislation – represents a stark departure from traditional ways of legislating. In this paper, we describe the problems and prospects of implementing objectives-based financial regulation in Hong Kong – in the form of a Twin Peaks regulatory structure. A focus on the objectives of achieving financial market stability and proper market conduct would require …
Synthetic Cdos, Conflicts Of Interest, And Securities Fraud, Jennifer O'Hare
Synthetic Cdos, Conflicts Of Interest, And Securities Fraud, Jennifer O'Hare
University of Richmond Law Review
No abstract provided.