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Articles 1 - 15 of 15

Full-Text Articles in Law

Shutting The Barn Door Before The Horse Is Stolen: How And Why State Public Utility Commissions Should Regulate Transactions Between A Public Utility And Its Affiliates, Judy Sheldrew Sep 2003

Shutting The Barn Door Before The Horse Is Stolen: How And Why State Public Utility Commissions Should Regulate Transactions Between A Public Utility And Its Affiliates, Judy Sheldrew

Nevada Law Journal

No abstract provided.


Standing Up To Wall Street (And Congress), Richard W. Painter May 2003

Standing Up To Wall Street (And Congress), Richard W. Painter

Michigan Law Review

In 1992, Arthur Levitt co-chaired a fundraising dinner for William Clinton. The dinner raised $750,000 (p. 7). Clinton was elected President, and Levitt got the job he wanted: Chairman of the Securities and Exchange Commission. Levitt, a former Chairman of the American Stock Exchange and a connected Democrat, was well qualified for the job. His, however, became a pyrrhic victory when accountants, issuers, broker-dealers, and other special interests used their own political connections to frustrate just about everything he sought to do. Levitt tells the story of his struggle against these well-funded interests in Take on the Street. One of …


A Tangled Web: Compliance Director Liability Under The Securities Laws, Anthony Pirraglia Jan 2003

A Tangled Web: Compliance Director Liability Under The Securities Laws, Anthony Pirraglia

Fordham Journal of Corporate & Financial Law

No abstract provided.


Disclosure Of The Irrelevant? –Impact Of The Sec’S Final Proxy Voting Disclosure Rules, Brian D. Stewart Jan 2003

Disclosure Of The Irrelevant? –Impact Of The Sec’S Final Proxy Voting Disclosure Rules, Brian D. Stewart

Fordham Journal of Corporate & Financial Law

No abstract provided.


Where Were The Counselors - Reflections On Advice Not Given And The Role Of Attorneys In The Accounting Crisis, William O. Fisher Jan 2003

Where Were The Counselors - Reflections On Advice Not Given And The Role Of Attorneys In The Accounting Crisis, William O. Fisher

Law Faculty Publications

Today's reports of corporate villainy invite these questions: Restricting ourselves to what the profession knew in the last days of the late 1990s soaring stock market, what advice might attorneys have given-about the temptations of deceptive accounting and the defenses to erect against it-to young executives who were taking their companies public then? And, if attorneys did not always give that counsel in fulsome form, why was that so? What forces worked on lawyers to deter that advice? What does all this suggest for counseling today? To help us answer these questions, we begin with two scenes. We return to …


Rebuilding Accountability In The Boardroom, Stephen M. Davis Jan 2003

Rebuilding Accountability In The Boardroom, Stephen M. Davis

Richmond Journal of Global Law & Business

No abstract provided.


Corporate Responsibility And The Regulation Of Corporate Lawyers, James M. Mccauley Jan 2003

Corporate Responsibility And The Regulation Of Corporate Lawyers, James M. Mccauley

Richmond Journal of Global Law & Business

On July 30, 2002, in an effort to demonstrate to the American public a resolve to crack down on corporate scandals such as Enron, Adelphia, WorldCom, and Global Crossing, President Bush signed into law the “Sarbanes-Oxley Act of 2002”. Proclaiming that the new law will restore investor confidence, reform the oversight of public accounting and increase the transparency of corporate financial statements…


Bring On 'Da Noise: The Sec's Proposals Concerning Professional Conduct For Attorneys Under Sarbanes-Oxley, Marilyn Blumberg Cane, Sarah Smith Kelleher Jan 2003

Bring On 'Da Noise: The Sec's Proposals Concerning Professional Conduct For Attorneys Under Sarbanes-Oxley, Marilyn Blumberg Cane, Sarah Smith Kelleher

Faculty Scholarship

In the wake of Enron's and numerous other corporate scandals, Congress enacted the Sarbanes-Oxley Act, which empowered the Securities and Exchange Commission (the Commission) to establish rules of professional conduct for attorneys who appear before it. In November 2002, the Commission released a proposal where attorneys would be required to report perceived violations of corporate governance and Commission rules up-the-ladder. Additionally, if the company failed to make an appropriate response, the attorney would be required to make a noisy withdrawal. After an onslaught of comments against the proposal, the Commission issued an alternative proposal for comment.

Under the alternative rule, …


Turn Up The Volume: The Need For "Noisy Withdrawal" In A Post Enron Society, Ryan Morrison Jan 2003

Turn Up The Volume: The Need For "Noisy Withdrawal" In A Post Enron Society, Ryan Morrison

Kentucky Law Journal

No abstract provided.


Securities Law: Section 307 Of The Sarbanes-Oxley Act: Irreconcilable Conflict With The Aba's Model Rules And The Oklahoma Rules Of Professional Conduct?, Jennifer Wheeler Jan 2003

Securities Law: Section 307 Of The Sarbanes-Oxley Act: Irreconcilable Conflict With The Aba's Model Rules And The Oklahoma Rules Of Professional Conduct?, Jennifer Wheeler

Oklahoma Law Review

No abstract provided.


Economic Suicide: The Collision Of Ethics And Risk In Securities Laws, Barbara Black, Jill Gross Jan 2003

Economic Suicide: The Collision Of Ethics And Risk In Securities Laws, Barbara Black, Jill Gross

Faculty Articles and Other Publications

The first part of this article looks at whether there are any legal principles derived from regulation or the case law to support an "economic suicide" claim. The second part of the article reviews arbitrators' awards to determine whether arbitrators do, in fact, decide favorably on economic suicide claims. The article also looks at some arbitrators' awards that appear to recognize an economic suicide claim to identify any factors that may lead arbitrators to award damages to the claimant. Finally, in the third part, we address whether policy considerations support an extension of recognized brokers' duties to include a duty …


The Irony Of Securities Arbitration Today: Why Do Brokerage Firms Need Judicial Protection?, Barbara Black Jan 2003

The Irony Of Securities Arbitration Today: Why Do Brokerage Firms Need Judicial Protection?, Barbara Black

Faculty Articles and Other Publications

In 1987 the securities industry achieved a major victory. Until then, because of the Supreme Court's 1953 holding in Wilko v. Swan that agreements to arbitrate federal securities claims contained in customer agreements were unenforceable, customers could sue brokerage firms and their salespersons in court, frequently before juries amenable to sizable verdicts, including punitive damages.

Illustrating a classic example of “be careful what you wish for,” brokerage firms no longer find arbitration entirely to their liking. Increasingly they turn to the courts to resist arbitration, to interfere with ongoing arbitration, or to undo the results of arbitration.

Unfortunately, both federal …


Multinational Enforcement Of U.S. Securities Laws: The Need For The Clear And Restrained Scope Of Extraterritorial Subject-Matter Jurisdiction., Kun Young Chang Jan 2003

Multinational Enforcement Of U.S. Securities Laws: The Need For The Clear And Restrained Scope Of Extraterritorial Subject-Matter Jurisdiction., Kun Young Chang

Fordham Journal of Corporate & Financial Law

No abstract provided.


Justice Lewis F. Powell, Jr. And The Counterrevolution In The Federal Securities Laws, Adam C. Pritchard Jan 2003

Justice Lewis F. Powell, Jr. And The Counterrevolution In The Federal Securities Laws, Adam C. Pritchard

Articles

The confirmation of Lewis F. Powell, Jr., to the Supreme Court coincided with a dramatic shift in the Court's approach to securities law. This Article documents Powell's influence in changing the Court's direction in securities law. Powell's influence was the product of his extensive experience with the securities laws as a corporate lawyer, which gave him much greater familiarity with that body of law than his fellow Justices had. That experience also made him skeptical of civil liability, particularly class and derivative actions. Powell's skepticism led him to interpret the securities law in a consistently narrow fashion to reduce liability …


Sec/Doj Parallel Proceedings: Contemplating The Propriety Of Recent Judicial Trends, Mark D. Hunter Jan 2003

Sec/Doj Parallel Proceedings: Contemplating The Propriety Of Recent Judicial Trends, Mark D. Hunter

Missouri Law Review

The Article examines the simultaneous civil investigation by the United States Securities and Exchange Commission (“SEC”) and criminal investigation by the Department of Justice (“DOJ”) through the United States Attorney’s Office regarding alleged violations of the federal securities laws. Part II of this Article introduces traditional authority, both statutory and case law, for the SEC and DOJ to conduct parallel proceedings. Part III briefly describes the SEC’s methods and procedures for gathering and sharing information with the DOJ. Part IV describes the rights and privileges afforded to suspects, while Part V describes the rights and privileges that suspects are not …