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The Relevance Of Tort Law Doctrines To Rule 10b-5: Should Careless Plaintiffs Be Denied Recovery?, Margaret V. Sachs
The Relevance Of Tort Law Doctrines To Rule 10b-5: Should Careless Plaintiffs Be Denied Recovery?, Margaret V. Sachs
Scholarly Works
Private litigation under section 10(b) of the Securities Exchange Act of 1934 and rule 10b-5 is at present riddled with tort law doctrines. Familiar tort concepts such as aiding and abetting, respondeat superior, plaintiff's duty of care, in pari delicto, and contribution have been imported into the rule 10b-5 private action by a number of lower federal courts. The United States Supreme Court had not addressed the relevance of any of these doctrines until its decision this year in Bateman Eichler, Hill Richards, Inc., v. Berner. By disallowing a defense of in pari delicto on statutory enforcement grounds, Bateman plainly …
An Open Attack On The Nonsense Of Blue Sky Regulation, Rutheford B. Campbell Jr.
An Open Attack On The Nonsense Of Blue Sky Regulation, Rutheford B. Campbell Jr.
Law Faculty Scholarly Articles
The evolution of state securities laws (hereinafter "blue sky laws") in this country is a classic example of regulation that was, perhaps, initially justified and that was apparently promulgated with the best of motives, but which now is actually harmful to society. Today, blue sky laws are ineffective, philosophically unsound, and unnecessarily expensive, and they should be substantially eliminated. Because of the vested interests that have developed, however, it is unlikely that states will respond to this problem, and it will probably take action by the United States Congress to preempt the area. Such an action is appropriate and, indeed, …
Protection Available To A U.S. Citizen Who Buys Securities From Foreigners: Relief In The U.S. For Sales At Home And Abroad; Protection Under U.K. And Thailand Laws, Narestr Kesaprakorn
Protection Available To A U.S. Citizen Who Buys Securities From Foreigners: Relief In The U.S. For Sales At Home And Abroad; Protection Under U.K. And Thailand Laws, Narestr Kesaprakorn
LLM Theses and Essays
This paper will examine regulations relating to transactions by foreigners in the United States securities markets and compare with investor protection in the U.K. and Thailand. It will also examine the manner in which the U.S. seeks to control extraterritorial securities transactions.
The Plight Of Small Issuers (And Others) Under Regulation D: Those Nagging Problems That Need Attention, Rutheford B. Campbell Jr.
The Plight Of Small Issuers (And Others) Under Regulation D: Those Nagging Problems That Need Attention, Rutheford B. Campbell Jr.
Law Faculty Scholarly Articles
Regulation D traces its roots to section 4(2) and section 3(b) of the Securities Act of 1933. Both of these sections are designed to relieve an issuer from the pains of registration under the 1933 Act in situations where Congress deemed such registration inappropriate. Therefore, under section 4(2), no registration is required for "transactions by an issuer not involving any public offering." Section 3(b) is not a self-executing exemption but instead permits the Securities and Exchange Commission to enact rules and regulations exempting issuers from registration requirements "if it finds that ... [registration] is not necessary in the public interest …
The Draft Restatement: A Critique From A Securities Regulation Perspective, Douglas C. Michael, Daniel L. Goelzer, Jacob H. Stillman, Elisse B. Walter, Anne H. Sullivan
The Draft Restatement: A Critique From A Securities Regulation Perspective, Douglas C. Michael, Daniel L. Goelzer, Jacob H. Stillman, Elisse B. Walter, Anne H. Sullivan
Law Faculty Scholarly Articles
For the past several years, the American Law Institute has been preparing a proposed revision of the Restatement (Second) of the Foreign Relations Law of the United States (“Draft Restatement”). This article is a critique from a securities regulation perspective of the Draft Restatement's sections 402, 403, 416, 418, 419, 420 and 431.1 In short, the Draft Restatement departs substantially from existing law. It would add dangerous vagueness and uncertainty to the jurisdictional analysis used to determine whether the United States securities laws will be applied to transnational securities activities. In particular, the complicated balancing inquiry required under the Draft …