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Full-Text Articles in Law
The Lost History Of Insider Trading, Michael A. Perino
The Lost History Of Insider Trading, Michael A. Perino
Faculty Publications
Common conceptions about the history of insider trading norms in the United States are inaccurate and incomplete. In his landmark 1966 book Insider Trading and the Stock Market, Dean Henry Manne depicted a world in which insider trading was both widespread and universally accepted. It was SEC enforcement efforts in the early 1960s, he contended, that swayed public opinion to condemn what had previously been considered a natural and unobjectionable market feature. For five decades, the legal academy has largely accepted Manne’s historical description, and the vigorous debates over whether the federal government should prosecute insider trading have assumed, …
Business Development Companies – The Basics, Christine Lazaro
Business Development Companies – The Basics, Christine Lazaro
Faculty Publications
(Excerpt)
Business Development Companies (“BDCs”) are a type of closed end fund. They were created by Congress in 1980, through amendments to the Investment Company Act of 1940 (the “1940 Act”).
BDCs were first created when a venture capital pool manager lobbied Congress to make it easier to invest in venture capital pools and private equity investments. While there was early interest in BDCs, their popularity waned through the 1990s. Since 2000, they have once again regained their popularity.
BDCs provide funding to small and mid-sized businesses. Following the financial crisis, BDCs were able to provide loans to businesses that …
An Overview Of The Regulation Best Interest Rule Package, Christine Lazaro
An Overview Of The Regulation Best Interest Rule Package, Christine Lazaro
Faculty Publications
(Excerpt)
On June 5, 2019, the SEC adopted the Regulation Best Interest Rule Package. The package consists of Regulation Best Interest: The Broker-Dealer Standard of Conduct; Form CRS Relationship Summary and Amendments to Form ADV; Commission Interpretation Regarding Standard of Conduct for Investment Advisers; and Commission Interpretation Regarding the Solely Incidental Prong of the Broker-Dealer Exclusion from the Definition of Investment Adviser. This article will summarize each of the releases.