Law Commons^™

Comparative Analysis Of U.S. And Saudi Arabia Investment Funds Regulations, Gabriella Tang

Northwestern Journal of International Law & Business

The investment funds sector has always been a major player in the financial industry globally. As such, many countries with mature financial markets have enacted regulations to govern the activity and management of investment funds. The U.S. Securities and Exchange Commission (SEC) enacted the Investment Company Act of 1940(the Act) as an effort to restore investor confidence in investment funds and safeguard investors from future abuses after the market crash in 1929. On the other hand, emerging financial markets started to take part in regulations in the hope to attract more investors and outside resources. The Capital Market Authority of …

Reds, Whites, And Sulfites: Examining Different Organic Wine Regulation Practices In The United States And The European Union, Ryan Puszka

Northwestern Journal of International Law & Business

Abstract:

This note examines the history of regulation within the organic wine industry in the U.S. and the E.U. and explores the motivations behind the production of organic wine in these two regions. The variance in the historical significance of wine between these two regions is reflected in the contemporary differences between the two regions’ rules for organic wine certification. In 2012, the U.S. and the E.U. entered into a comprehensive organic equivalency agreement that covered nearly all organic agricultural products but due to significant differences in the two regions’ regulatory schemes concerning the inclusion of added sulfites in wine, …

Inefficiency Of Specific Performance As A Contractual Remedy In Chinese Courts: An Empirical And Normative Analysis, Lei Chen, Larry A. Dimatteo

Northwestern Journal of International Law & Business

This article investigates the values and latent policies in the area of the availability of specific performance (SP) as a contractual remedy, which have shaped the development of Chinese law. The National People’s Congress (Legislature) and Supreme People’s Court in China have addressed the remedial structure of Chinese contract law, namely, the availability of the remedy of SP as opposed to the awarding of damages only. The law is clear that the remedies of SP and damages are ordinary remedies that a claimant is free to choose between. The question that this article confronts is whether in practice the equality …

Can Smart Contracts Enhance Firm Efficiency In Emerging Markets?, Kevin J. Fandl

Northwestern Journal of International Law & Business

Blockchain technology has the potential to eliminate one of the most significant barriers to economic growth through private business transactions in developing countries—lack of trust. In a typical developed country, individuals and firms conduct transactions within an institutional environment that offers security through the enforcement of agreements. Transparent and effective courts, while imperfect to be sure, enable parties to feel secure in their transactions even if their level of trust in the other party is low. This security, in turn, facilitates transactions far afield from high-trust relationships (e.g., immediate relatives), generating transactions based upon economic value rather than party trust …

Crowding Out Theory: Protecting Shareholders By Balancing Executives’ Incentives In France, The United States, & China, Palden Flynn

Northwestern Journal of International Law & Business

This paper explores the differences between executive compensation regimes in France, the United States, and China. It asks whether there is a link between state regulation of real options as a form of executive compensation and state regulation of shareholder protections. This paper argues that if a country regulates the use of real options as compensation, then that country is also more likely to have strong shareholder protection laws. This argument seems to be true based on a descriptive review of executive compensation law and shareholder protections in France, the United States, and China.

If it is true that countries …