Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Law
An Essay For Professor Alan Bromberg: Removing The Taint From Past Illegal Offers And Sales - 40 Years Later, Douglas M. Branson
An Essay For Professor Alan Bromberg: Removing The Taint From Past Illegal Offers And Sales - 40 Years Later, Douglas M. Branson
Articles
In 1975, for its inaugural, the Journal of Corporation Law at the University of Iowa solicited a lead article for issue 1, page 1. The editors solicited that piece from Professor Alan Bromberg, one of the great academics of securities law, then or at any other time. Professor Bromberg, of Southern Methodist University, died last year. This article began as a piece with three goals: (1) pay homage to Professor Bromberg, whom I knew personally, and his achievements; (2) update his 1975 article; and (3) add flesh to the treatment by examining closely practical, modern day situations in which rescission …
A Return To Old-Time Religion? The Glass-Steagall Act, The Volcker Rule, Limits On Proprietary Trading, And Sustainability, Douglas M. Branson
A Return To Old-Time Religion? The Glass-Steagall Act, The Volcker Rule, Limits On Proprietary Trading, And Sustainability, Douglas M. Branson
Articles
Pursuant to directions contained in the Dodd-Frank Act (2010), five federal agencies collaborated to produce a 983 page rule limiting proprietary trading by financial institutions (the Volcker Rule, which becomes effective in summer, 2015). The Volcker Rule limits proprietary trading to no more than 3 percent of “Tier One” assets. The hoped for effects are that financial institutions will be strictly limited in trading for their own accounts. Some say, propelled by unbridled greed, U.S. financial institutions borrowed excessive amounts of money, inflating leverage ratios as high as 36 or 40 to 1, using the borrowed funds to engage in …
A Changing Mosaic In Sec Regulation And Enforcement: Broker-Dealers And Investment Advisers, Douglas M. Branson
A Changing Mosaic In Sec Regulation And Enforcement: Broker-Dealers And Investment Advisers, Douglas M. Branson
Articles
The 2010 Dodd-Frank Act directed the SEC to study the issue of whether the Commission should, by regulation, decree broker-dealers (“registered representatives”) subject to the same fiduciary standards applicable to investment advisers, applicable at least since SEC v. Capital Gains Research Bureau, 385 U.S. 180 (1963). The SEC completed such a study in 2011, predictably recommending that the Commission exercise the authority Dodd-Frank had given it, namely, waving its wand, declaring brokers fiduciaries. Many able academics and regulators have adumbrated the pros and the cons of such a regulatory step. To date, however, the SEC has done nothing, undoubtedly …