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Full-Text Articles in Law

Defi: Shadow Banking 2.0?, Hilary J. Allen Jan 2023

Defi: Shadow Banking 2.0?, Hilary J. Allen

Articles in Law Reviews & Other Academic Journals

The growth of so-called “shadow banking” was a significant contributor to the financial crisis of 2008, which had huge social costs that we still grapple with today. Our financial regulatory system still hasn’t fully figured out how to address the risks of the derivatives, securitizations, and money market mutual funds that comprised Shadow Banking 1.0, but we’re already facing the prospect o fShadow Banking 2.0in the form of decentralized finance, or “DeFi.” DeFi’s proponents speak of a future where sending money is as easy as sending a photograph–but money is not the same as a photograph. The stakes are much …


Designing Effective Regulation For Blockchain-Based Markets, Heather Hughes Jul 2021

Designing Effective Regulation For Blockchain-Based Markets, Heather Hughes

Articles in Law Reviews & Other Academic Journals

Effective regulation of blockchain-based markets calls for coordination among lawyers, businesses, coders, and lawmakers. How might we achieve adequate coordination and why is it important? This Article takes up these questions, using one example of an increasingly popular type of blockchain-based financial transaction: the issuance of tokens backed by off-chain assets. The objective here is not to advocate for a particular regulatory treatment for asset tokenization, but rather to use this deal type as a springboard to discuss what "effective regulation" means in the context of blockchain-enabled markets.


Blockchain & Secured Transactions Proceedings Of The 2021 Spring Conference: The Impact Of Blockchain On The Practice Of Law: Presentation 4, Heather Hughes Jul 2021

Blockchain & Secured Transactions Proceedings Of The 2021 Spring Conference: The Impact Of Blockchain On The Practice Of Law: Presentation 4, Heather Hughes

Articles in Law Reviews & Other Academic Journals

Secured transactions are governed by Uniform Commercial Code Article 9. UCC Article 9 governs any extension of credit secured by personalty. If you think about it, this statute governs a massive swath of market activity: secured credit facilities, margin trading of securities, asset securitizations, and purchase money transactions for goods, I could name more. But it's a statute that's very wide ranging. Given this expansive scope, blockchain-based transaction platforms have numerous implications for lawyers who deal with secured transactions. In my brief time here, I'm going to identify just two of them.


Testimony Before The U.S. House Of Representatives Committee On Financial Services On “Addressing Climate As A Systemic Risk: The Need To Build Resilience Within Our Banking And Financial System” In June 2021, Hilary J. Allen Jun 2021

Testimony Before The U.S. House Of Representatives Committee On Financial Services On “Addressing Climate As A Systemic Risk: The Need To Build Resilience Within Our Banking And Financial System” In June 2021, Hilary J. Allen

Congressional and Other Testimony

No abstract provided.


U.S. Regulation Of Blockchain Currencies: A Policy Overview, Heather Hughes Jan 2020

U.S. Regulation Of Blockchain Currencies: A Policy Overview, Heather Hughes

Articles in Law Reviews & Other Academic Journals

No abstract provided.


Why Salman Is A Game-Changer For The Political Intelligence Industry, Kendall R. Pauley Jan 2018

Why Salman Is A Game-Changer For The Political Intelligence Industry, Kendall R. Pauley

American University Law Review

No abstract provided.


Crowdfunding In Wonderland Issuer And Investor Risks In Non-Fraudulent Creative Arts Campaigns Under The Jobs Act, Michael M. Epstein, Nazgole Hashemi Jan 2017

Crowdfunding In Wonderland Issuer And Investor Risks In Non-Fraudulent Creative Arts Campaigns Under The Jobs Act, Michael M. Epstein, Nazgole Hashemi

American University Business Law Review

No abstract provided.


Revisiting The Bank Holding Company Structure: Do Community And Regional Banks Still Need A Bank Holding Company?, Gerard Comizio, Laura E. Bain, Kristin S. Teager Jan 2017

Revisiting The Bank Holding Company Structure: Do Community And Regional Banks Still Need A Bank Holding Company?, Gerard Comizio, Laura E. Bain, Kristin S. Teager

American University Business Law Review

No abstract provided.


The Anti-Spoofing Statute: Vague As Applied To The "Hypothetically Legitimate Treader", Catriona Coppler Jan 2017

The Anti-Spoofing Statute: Vague As Applied To The "Hypothetically Legitimate Treader", Catriona Coppler

American University Business Law Review

No abstract provided.


Property And The True-Sale Doctrine, Heather Hughes Jan 2017

Property And The True-Sale Doctrine, Heather Hughes

Articles in Law Reviews & Other Academic Journals

The true-sale doctrine governs financial transactions involving hundreds of billions of dollars each year. Yet this doctrine is confused, unsettled and subject to differing approaches from state to state: it lacks normative foundation and it lacks coherence. The true-sale doctrine determines the fate of investors asserting ownership of securitized assets at the expense of unsecured creditors, such as employees. It distinguishes assignments to secure loans (leaving assets potentially reachable by unsecured creditors), from outright sales (making assets the exclusive property of investors). A rich literature addresses the efficiency of securitization. But scholars and policy-makers have failed to sufficiently relate positions …


The Business Of Art Theft: Assessing Auction House Standard Of Care And The Sale Of Stolen Cultural Property, Alexandra M.S. Wilson Jan 2016

The Business Of Art Theft: Assessing Auction House Standard Of Care And The Sale Of Stolen Cultural Property, Alexandra M.S. Wilson

American University Business Law Review

No abstract provided.


Friends With Benefits: Analyzing The Implications Of United States V. Newman For The Future Of Insider Trading, Tebsy Paul Jan 2016

Friends With Benefits: Analyzing The Implications Of United States V. Newman For The Future Of Insider Trading, Tebsy Paul

American University Business Law Review

No abstract provided.


Conflating Politics And Development? Examining Investment Treaty Arbitration Outcomes, Susan Franck Mar 2014

Conflating Politics And Development? Examining Investment Treaty Arbitration Outcomes, Susan Franck

Articles in Law Reviews & Other Academic Journals

International dispute settlement is an area of ongoing evaluation and tension within the international political economy. As states continue their negotiations for the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP), the efficacy of international arbitration as a method of dispute settlement remains controversial. Whereas some sing its praises as a method of protecting private property interests against improper government interference, others decry investment treaty arbitration (ITA) as biased against states. The literature has thus far not disentangled how politics and development contribute to investment dispute outcomes. In an effort to control for the effect of internal …


Foreign Corrupt Practices Act Ripples, Mike Koehler Jan 2014

Foreign Corrupt Practices Act Ripples, Mike Koehler

American University Business Law Review

No abstract provided.


Non-Party Interests In Closing Opinion Letters, Heather Hughes Jan 2014

Non-Party Interests In Closing Opinion Letters, Heather Hughes

Articles in Law Reviews & Other Academic Journals

INTRODUCTION: What do transactional lawyers do when they issue third-party opinion letters in financial transactions? This descriptive question turns out to be quite complex'-so complex that the normative question of what lawyers should do when they issue opinions, as well as the practical question of what they could do, are difficult to answer. This Symposium Article reflects upon third-party closing opinions as a central aspect of business law practice that can be opaque to outsiders. The ideas expressed here are exploratory. In the spirit of reflecting on what transactional lawyers do, this contribution considers deal lawyer strategies as potential tools …


Deal Deconstructions, Case Studies, And Case Simulations: Toward Practice Readiness With New Pedagogies In Teaching Business And Transactional Law, Michelle M. Harner, Robert J. Rhee Jan 2013

Deal Deconstructions, Case Studies, And Case Simulations: Toward Practice Readiness With New Pedagogies In Teaching Business And Transactional Law, Michelle M. Harner, Robert J. Rhee

American University Business Law Review

No abstract provided.


M&A As One Component Of A Business Planning Course, Lyman Johnson, Sean Leuba Jan 2013

M&A As One Component Of A Business Planning Course, Lyman Johnson, Sean Leuba

American University Business Law Review

No abstract provided.


Nuclear Intentions And Implied Preemption: How Energy Nuclear Vermont Yankee, Llc V. Shumlin Gives Indian Point A Fighting Chance To Stay In Business, Zachary Mason Jan 2013

Nuclear Intentions And Implied Preemption: How Energy Nuclear Vermont Yankee, Llc V. Shumlin Gives Indian Point A Fighting Chance To Stay In Business, Zachary Mason

American University Business Law Review

No abstract provided.


Doing The Numbers: The Numerate Lawyer And Transactional Law, Theresa A. Gabaldon Jan 2013

Doing The Numbers: The Numerate Lawyer And Transactional Law, Theresa A. Gabaldon

American University Business Law Review

No abstract provided.


Otc Derivatives & Systemic Risk: Innovative Finance Or The Dance Into The Abyss?, Adam P. Waldman Jan 1994

Otc Derivatives & Systemic Risk: Innovative Finance Or The Dance Into The Abyss?, Adam P. Waldman

American University Law Review

No abstract provided.