Law Commons^™

The Dark Side Of Self-Regulation, Benjamin P. Edwards

Scholarly Works

The financial services industry indirectly regulates itself through little discussed, scandal-prone, and structurally-entrenched self-regulatory organizations. FINRA, the most prominent of these self-regulatory organizations, makes regulations and sets enforcement policy that directly affect public welfare. As with other self-regulatory organizations, FINRA's structure poses a continual risk that industry members will subvert its processes to act like a cartel, promoting industry interests at the expense of the public and contributing to the excessive rents collected by financial intermediaries. Although this dark side to self-regulation poses a constant danger, structural reforms may increase the likelihood that FINRA and other self-regulatory organizations will take …

Public Policy And Workers’ Rights: Wrongful Discharge Discipline Actions And Reasonable Good Faith Beliefs, Ann C. Mcginley, Nicole Buonocore Porter

Scholarly Works

In this paper, Professor Ann McGinley responds to Chapter 5 of the ALI's Restatement of the Law: Employment Law ("Restatement of Employment Law"), concerning "The Tort of Wrongful Discharge in Violation of Public Policy."' It proceeds in five parts. Following an introduction in Part I, Part II summarizes generally the provisions of Chapter 5, the Working Group's objections to the earlier version and recommendations for changes, and explains (when appropriate) where the final version deviated from the prior version. Part III argues that this chapter should have kept the prior version's protection against wrongful discipline instead of protecting only against …

The Professional Prospectus: A Call For Effective Professional Disclosure, Benjamin P. Edwards

Scholarly Works

Without easy access to relevant information, many consumers unwittingly trust serious decisions to professionals with histories of malpractice and negligence-leading to both individual and societal harms. This Article proposes to improve professional services markets with a tool that has already proven effective in the securities markets: a prospectus. A "Professional Prospectus" would reduce information asymmetries and improve the market for professional services through disclosure and consumer choice.

A Professional Prospectus would alter the market for professional services by making professional reputation a more potent force. Economic theory often relies on "reputation effects" to ensure the efficient functioning of the market …

Conflicts & Capital Allocation, Benjamin P. Edwards

Scholarly Works

The regulatory structure for financial advice now tolerates incentives motivating financial advisors to manipulate and deceive retail investors. While scholars thus far have argued for ways to improve investor protections, the literature has largely ignored how these flawed incentives affect the economy.

This Article contends that these flawed incentives cause financial advisors to negatively affect capital allocation throughout the overall economy.

This Article draws on literature about manipulation and deception in principal-agent relationships to show how conflicts of interest cause the market for financial advisor services to generate excessive intermediation, driving harms to the real economy. This Article uses case …

Developments In The Law Affecting Electronic Payments And Financial Services, Sarah Jane Hughes, Stephen T. Middlebrook, Tom Kierner

Articles by Maurer Faculty

No abstract provided.

Maori Preserved Heads: A Legal History, Robert K. Paterson

All Faculty Publications

For the first three decades of the nineteenth century New Zealand remained untouched by outside law. Foreign contacts mostly involved visits by traders, whalers, and missionaries. The latter sought to discourage the Maori practice of tattooing (ta moko), while the former quite soon began to see opportunities for trade in preserved tattooed heads. Early accounts of New Zealand described these heads and their mode of preservation. Ob-servers noted that both the heads of enemy warriors slain in battle, along with those of deceased chiefs and others of high rank, were preserved. The process involved the removal of interior soft tissue …

Carpenter V. United States: Brief Of Scholars Of Criminal Procedure And Privacy As Amici Curiae In Support Of Petitioner, Andrew Ferguson

Scholarly Articles in Law Reviews & Journals

Amici curiae are forty-two scholars engaged in significant research and/or teaching on criminal procedure and privacy law. This brief addresses issues that are within amici’s particular areas of scholarly expertise. They have a shared interest in clarifying the law of privacy in the digital era, and believe that a review of scholarly literature on the topic is helpful to answering the question in this case. This brief is co-authored by Harry Sandick, Kathrina Szymborski, & Jared Buszin of Patterson Belknap Webb & Tyler LLP.Carpenter v. United States presents an opportunity to reconsider the Fourth Amendment in the digital age. Cell …

Freeing The Law, Khelani Clay

Scholarly Articles in Law Reviews & Journals

No abstract provided.

A Legal Perspective On Yemen's Attempted Transition From A Unitary To A Federal System Of Government, Paul Williams, Tiffany Sommadossi, Ayat Mujais

Scholarly Articles in Law Reviews & Journals

Yemen's 2013-2014 National Dialogue Conference paved the way for Yemen to transition from a unitary to federal system of government. This is a common trajectory for States emerging from conflict as federalism offers the hope for greater democratic governance and inclusivity. Nevertheless, there is a danger in assuming that there is an ideal federal model to emulate or that federalism is itself a guaranteed remedy for political dysfunction and authoritarianism. Transitioning to federalism is an arduous, expensive, and technically complicated process. Such transitions can also renew conflict if, prior to the drafting of the federal constitution, key issues related to …

Damaged Bodies, Damaged Lives: Immigrant Worker Injuries As Dignity Takings, Jayesh Rathod, Rachel Nadas

Scholarly Articles in Law Reviews & Journals

Government data consistently affirm that foreign-born workers in the U.S. experience high rates of on-the-job illness and injury. This article explores whether—and under what circumstances—these occupational harms suffered by immigrant workers constitute a dignity taking. The article argues that some injuries suffered by foreign-born workers are indirect takings by the state due to the government’s lackluster oversight and limited penalties for violations of occupational safety and health laws. Using a framework of the body as property, the article then explores when work-related injury constitutes an infringement upon a property right. The article contends that the government’s weak enforcement apparatus, coupled …

Comments On Omb's Interim Guidance Implementing Section 2 Of Executive Order 13,771 Reducing Regulation And Controlling Regulatory Costs, Jeffrey Lubbers

Scholarly Articles in Law Reviews & Journals

No abstract provided.

Notice And Standing In The Fourth Amendment: Searches Of Personal Data, Jennifer Daskal

Scholarly Articles in Law Reviews & Journals

In at least two recent cases, courts have rejected service providers' capacity to raise Fourth Amendment claims on behalf of their customers. These holdings rely on longstanding Supreme Court doctrine establishing a general rule against third parties asserting the Fourth Amendment rights of others. However, there is a key difference between these two recent cases and those cases on which the doctrine rests. The relevant Supreme Court doctrine stems from situations in which someone could take action to raise the Fourth Amendment claim, even if the particular thirdparty litigant could not. In the situations presented by the recent cases, by …

Access To Data Across Borders: The Critical Role For Congress To Play Now, Jennifer Daskal

Scholarly Articles in Law Reviews & Journals

No abstract provided.

Freeing The Law, Khelani Clay

Scholarly Articles in Law Reviews & Journals

No abstract provided.

Teaching Health Law From A Social-Ecological Perspective, Lindsay Wiley

Scholarly Articles in Law Reviews & Journals

I started teaching health law relatively recently-in the fall of 2010, just after the Affordable Care Act ("ACA") was enacted, but before much of it had been implemented. This timing has been a blessing because I started with a fresh slate rather than adding the ACA on top of a previously developed course. It has also been a curse, but ultimately I appreciate that I started teaching the course at a time when the ACA was under constant threat. The ever-evolving nature of health law means that health law teachers must always bear in mind a goal that applies to …

How Does A Radical Lesbian Feminist Who Just Knows How To Holler Somehow Become A Noted Legal Scholar, Nancy Polikoff

Scholarly Articles in Law Reviews & Journals

No abstract provided.

Blood Antiquities: Addressing A Culture Of Impunity In The Antiquities Market, Paul Williams, Christin Coster

Scholarly Articles in Law Reviews & Journals

For decades, parties to conflicts have used the cover of war to destroy and loot cultural property and antiquities for financial gain and symbolic victory. The “blood antiquities” excavated in conflict areas and sold mostly in western markets fuel not only continued conflict, but also (as in cases such as Syria and Iraq) terrorism that can reach around the world. The culture of impunity for both buyers and sellers of antiquities allows the blood-antiquities trade to thrive.

A robust international legal framework does exist to ensure accountability for the destruction of cultural heritage. Because looting is a major cause of …

Is Eu Merger Control Used For Protectionism? An Empirical Analysis, Anu Bradford, Robert J. Jackson Jr., Jonathon Zytnick

Faculty Scholarship

The European Commission has often used its merger‐review power to challenge high‐profile acquisitions involving non‐E.U. companies, giving rise to concerns that its competition authority has evolved into a powerful tool for industrial policy. The Commission has been accused of deliberately targeting foreign – especially U.S. – acquirers, while facilitating the creation of European national champions. These concerns, however, rest on a few famous anecdotes. In this article, we introduce a unique dataset that allows us to provide the first rigorous examination of these claims. Our analysis of the over 5,000 mergers reported to the Commission between 1990 and 2014 reveals …

Some Legal Realism About Legal Theory, Jeremy Kessler, David Pozen

Faculty Scholarship

This is a brief surreply to Charles Barzun, Working for the Weekend: A Response to Kessler & Pozen, 83 U. Chi. L. Rev. Online 225 (2017), which responds to Jeremy K. Kessler & David E. Pozen, Working Themselves Impure: A Life Cycle Theory of Legal Theories, 83 U. Chi. L. Rev. 1819 (2016).

Our article Working Themselves Impure concludes by calling for lawyers to take more seriously the failure of prescriptive legal theories to produce the results they once promised. When prescriptive legal theories that fail to achieve their initial, publicly stated goals nonetheless gain and sustain broad …

Experiential Learning And Assessment In The Era Of Donald Trump, Jamie Abrams

Scholarly Articles in Law Reviews & Journals

Law teaching is turning a critical corner with the implementation of new ABA accreditation standards requiring greater skills development, experiential learning, and student assessment. Years of debate and discourse preceded the adoption of these ABA Standards, followed by a surge in programming, conferencing, and list-serv activity to prepare to implement these standards effectively. Missing from the dialogue about effective implementation of standards has been thoughtful consideration of how implementing these requirements will intersect with the challenges, realities, opportunities, and complexities of political divisiveness and polarization so prevalent in society and university campuses today.

Law schools are notably implementing these pedagogical …

Teenage Pregnancy, Parenting, And Abortion: Legal Limits On Adolescents' Reproductive Rights, Maya Manian

Scholarly Articles in Law Reviews & Journals

As numerous scholars have noted, the law takes a strikingly incoherent approach to adolescent reproduction. States overwhelmingly allow a teenage girl to independently consent to pregnancy care and medical treatment for her child, and even to give up her child for adoption, all without notice to her parents, but require parental notice or consent for abortion. This chapter argues that this oft-noted contradiction in the law on teenage reproductive decision-making is in fact not as contradictory as it first appears. A closer look at the law's apparently conflicting approaches to teenage abortion and teenage childbirth exposes common ground that scholars …

The Commercial Appropriation Of Frame: A Cultural Analysis Of Right Of Publicity And Passing Off, Peter Jaszi

Scholarly Articles in Law Reviews & Journals

Over several centuries, the rhetoric of 'gap filling' has often been invoked to naturalise expansions of intellectual property ("IP") rights-copyright term extension, the patenting of life forms, trademark disparagement, and so forth. The ready pragmatism of the phrase has definite audience appeal, making big changes sound like straightforward responses to external conditions-rather than choices about how to draw the line between private ownership and public discourse. We know, however, that once filled, 'gaps' tend to stay filled. Retrospective debates about the wisdom of such decisions tend to be (both literally and figuratively) of merely academic interest. So what is most …

Race And The New Policing, Jeffrey Fagan

Faculty Scholarship

Several observers credit nearly 25 years of declining crime rates to the “New Policing” and its emphasis on advanced statistical metrics, new forms of organizational accountability, and aggressive tactical enforcement of minor crimes. This model has been adopted in large and small cities, and has been institutionalized in everyday police-citizen interactions, especially among residents of poorer, often minority, and higher crime areas. Citizens exposed to these regimes have frequent contact with police through investigative stops, arrests for minor misdemeanors, and non-custody citations or summons for code violations or vehicle infractions. Two case studies show surprising and troubling similarities in the …

Is The Future Of Law A Driverless Car? Assessing How The Data Analytics Revolution Will Transform Legal Practice, Eric L. Talley

Faculty Scholarship

Machine learning and artificial intelligence technologies (“data analytics”) are quickly transforming research and practice in law, raising questions of whether the law can survive as a vibrant profession for natural persons to enter. In this article, I argue that data analytics approaches are overwhelmingly likely to continue to penetrate law, even in domains that have heretofore been dominated by human decision makers. As a vehicle for demonstrating this claim, I describe an extended example of using machine learning to identify and categorize fiduciary duty waiver provisions in publicly disclosed corporate documents. Notwithstanding the power of machine learning techniques, however, I …

Investor-Driven Financial Innovation, Kathryn Judge

Faculty Scholarship

Financial regulations often encourage or require market participants to hold particular types of financial assets. One unintended consequence of this form of regulation is that it can spur innovation to increase the effective supply of favored assets. This Article examines when and how changes in the law prompt the spread of “investor-driven financial innovations.” Weaving together theory, recent empirical findings, and illustrations, this Article provides an overview of why investors prefer certain types of financial assets to others, how markets respond, and how the spread of investor-driven innovations can transform the structure of the financial system. This examination suggests that …

Extended Collective Licenses In International Treaty Perspective: Issues And Statutory Implementation, Jane C. Ginsburg

Faculty Scholarship

National legislation establishing extended collective licenses (ECLs) “authoriz[es] a collective organization to license all works within a category, such as literary works, for particular, limited uses, regardless of whether copyright owners belong to the organization or not. The collective then negotiates agreements with user groups, and the terms of those agreements are binding upon all copyright owners by operation of law.” Albeit authorized under national laws, collective coverage of non-members’ works may pose issues of compatibility with international norms. For example, if non-members must opt-out in order to preserve the individual management of their rights, is the opt-out a “formality” …

New Policing, New Segregation: From Ferguson To New York, Jeffrey Fagan, Elliott Ash

Faculty Scholarship

In popular and political culture, many observers credit nearly twenty-five years of declining crime rates to the “New Policing.” Breaking with a past tradition of “reactive policing,” the New Policing emphasizes advanced statistical metrics, new forms of organizational accountability, and aggressive tactical enforcement of minor crimes. The existing research and scholarship on these developments have focused mostly on the nation’s major cities, where concentrated populations and elevated crime rates provide pressurized laboratories for police experimentation, often in the spotlight of political scrutiny. An additional line of scholarship has looked more closely at how the tactics of the New Policing have …

The Future Of State Sovereignty, Joseph Raz

Faculty Scholarship

Advances in the legalisation of international relations, and the growing number of international organisations raise the question whether state sovereignty had its day. The paper defines sovereignty in a way that allows for degrees of sovereignty. Its analysis assumes that while sovereignty has become more limited, a trend which may continue, there is no sign that it is likely to disappear. The paper offers thoughts towards a normative analysis of these developments and the prospects they offer. Advocates of progress towards world government, while wise to many of current defects, are blind to the evils that a world government will …

A Note On Victoria Laundry, Victor P. Goldberg

Faculty Scholarship

In Victoria Laundry v Newman, Asquith LJ claimed that the headnote in Hadley v. Baxendale was “definitely misleading” noting that had it been accurate, the decision would have been decided the other way. In this note, I argue that the headnote was not misleading and, even if it were, his conclusion did not follow. His interpretation lowered the standard for finding liability for consequential damage. Given the facts, Victoria Laundry would have lost, even with his new standard. His solution was simple: alter the facts.

Supreme Court Amicus Brief Of 22 Corporate Law Professors, Mark Janus V. American Federation Of State, County And Municipal Employees, Council 31, Et Al, No. 16-1466, John C. Coates, Iv, Lucian A. Bebchuk, John C. Coffee Jr., Bernard S. Black, Lawrence A. Hamermesh, James D. Cox, Marcel Kahan, Reinier Kraakman, Jeffrey N. Gordon, Ronald J. Gilson, Vikramaditya S. Khanna, Michael Klausner, Henry Hansmann, Donald C. Langevoort, Brian J.M. Quinn, Michal Barzuza, Mira Ganor, Edward B. Rock, Mark J. Roe, Helen S. Scott, Holger Spamann, Randall S. Thomas

Faculty Scholarship

The Supreme Court has looked to the rights of corporate shareholders in determining the rights of union members and non-members to control political spending, and vice versa. The Court sometimes assumes that if shareholders disapprove of corporate political expression, they can easily sell their shares or exercise control over corporate spending. This assumption is mistaken. Because of how capital is saved and invested, most individual shareholders cannot obtain full information about corporate political activities, even after the fact, nor can they prevent their savings from being used to speak in ways with which they disagree. Individual shareholders have no “opt …