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Full-Text Articles in Law
The Effect Of The Jobs Act On Underwriting Spreads, Usha Rodrigues
The Effect Of The Jobs Act On Underwriting Spreads, Usha Rodrigues
Scholarly Works
U.S. underwriting fees, or spreads, have somewhat inexplicably clustered around 7% for years, a phenomenon that some have suggested evidences implicit collusion. The goal of Title I the JOBS Act of 2012 was to make going public easier for smaller firms; certain provisions specifically should make the underwriters’ task less risky, and thus less expensive. Presuming these provisions are effective, then one would predict that underwriting spreads would decrease as the costs to the underwriter for a public offering declined. Admittedly the prior presumption is a big one: it may be that the JOBS Act reforms were largely ineffective, and …
Banking And The Social Contract, Mehrsa Baradaran
Banking And The Social Contract, Mehrsa Baradaran
Scholarly Works
This article asserts that there exists today and has always existed an interdependent relationship between banks and the state. I refer to this connection and its mutual benefits and responsibilities as a social contract. When Alexander Hamilton responded to President Washington’s inquiry about the advisability of a national bank, he wrote that “such a Bank is not a mere matter of private property, but a political machine of the greatest importance to the State.” This social contract has existed since the inception of banking in the United States and has been reinforced over time, but it has recently become weakened …
International Aspects Of Banking Regulations - Panama And U.S., Annette Cecilia De Leon Molina
International Aspects Of Banking Regulations - Panama And U.S., Annette Cecilia De Leon Molina
LLM Theses and Essays
Globalization has resulted in a significant increase in the number of foreign banks operating in the United States and the Republic of Panama, thus requiring regulation. This paper deals with the proposed legislative framework by the Republic of Panama to modernize its foreign banking regulations. The paper examines the dynamics of the Basic Accord Capital Standards and U.S. regulation of foreign banks in comparison to the Panama current banking regulations, with the goal to adopting international best practices. The paper concludes by proposing that the Republic of Panama should embrace regulatory revisions at the same level as regulatory schemes in …
The Value Of Public-Notice Filing Under Uniform Commercial Code Article 9: A Comparison With The German Legal System Of Securities In Personal Property, Jens Hausmann
LLM Theses and Essays
In contrast to the public-notice filing system under U.C.C. Article 9, the modern German law of securities in personal property lacks publicity of security interests. The German courts have developed a mesh of priority rules exhaustively described in this analysis. Despite the costs and risks arising under the formal filing system, the U.C.C. accomplishes a preferable balance of interests involved in secured transactions. It assures certainty to creditors about the priority of security interests in particular assets, whereas the German law comprehensively recognizes the debtor’s interest in the secrecy of the transaction and the need for external capital. Regarding the …