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The Fragmented Regulation Of Investment Advice: A Call For Harmonization, Christine Lazaro, Benjamin P. Edwards
The Fragmented Regulation Of Investment Advice: A Call For Harmonization, Christine Lazaro, Benjamin P. Edwards
Michigan Business & Entrepreneurial Law Review
Decades of short-term thinking and regulatory fixes created the bewilderingly complex statutory and regulatory structures governing the giving of personalized investment advice to retail customers. Although deeply flawed, the current systems remain entrenched because of the difficulties inherent in making radical alterations. Importantly, the current patchwork systems do not seem to serve retail customers particularly well. Retail customers tend to make predictable and costly mistakes in allocating their assets. Some of this occurs because many investors lack basic financial literacy. A recent study released by the staff of the Securities and Exchange Commission (the “Commission”) on financial literacy among investors …
Constitutional Law - Act Changing Pensions - Impairing Obligation Of Contracts - Due Process, Bertram H. Lebeis
Constitutional Law - Act Changing Pensions - Impairing Obligation Of Contracts - Due Process, Bertram H. Lebeis
Michigan Law Review
An Illinois statute provided for the compulsory retirement of teachers at the age of seventy with an annuity of $1500 a year for life, and an amendment thereto granted annuities on a sliding scale from $1000 to $1500 a year to teachers voluntarily retiring between the ages of sixty-five and seventy. These provisions were changed by an act of 1935 which abolished the provisions for voluntary retirement and .fixed compulsory retirement at the age of sixty-five, with annuities reduced to a flat rate of $500 annually. Plaintiffs, who either had retired or were eligible for retirement at the time the …