Law Commons^™

Chinese Business And The Internet: The Infrastructure For Trust, Timothy L. Fort, Liu Junhai

Vanderbilt Journal of Transnational Law

Although the Internet and E-commerce revolutions have clearly taken hold in the United States and Europe, the Chinese culture has been slow to adopt the Internet as a marketplace. The Authors cite a lack of trust on the part of both potential consumers and potential merchants as the primary obstacle to a robust Chinese E-commerce community. To remedy this lack of trust, the Article proposes the nation seek a middle way between reforms guided by Western rule of law and Eastern rule of ethics, thus incorporating effective regulatory strategies and the philosophical resources already within the Chinese cultural consciousness. The …

Regulation And Investors' Trust In The Securities Market, Tamar Frankel

Faculty Scholarship

The subject of investor confidence in the securities markets has received wide attention recently as details of fraud and avarice continue to emerge. Investors' trust in the securities markets is important for the reasons discussed in Professor Stout's marvelous paper.¹ This Comment focuses on the relationship between investors' trust and government regulation of the markets. By regulation I mean congressional legislation and actions by federal agencies. I exclude the courts mainly because their lawmaking is not primarily policy-based, and my aim is to sound the alarm for legislative and regulatory policy-directed actions. Many an economist and academic have argued …

A Tale Of Three Statutes . . . (And One Industry): A Case Study On The Competitive Effects Of Regulation, Rafael Gely

Faculty Publications

The comparison of the three labor regulatory regimes raises an interesting counterexample to the traditional model of regulation. Instead of adopting a one-size-fits-all model, could a regulatory model be conceptualized where a menu of regulatory options is made available to the target population? Under such an approach those affected by the regulatory regime will choose among the various regulatory options and adopt those that better fit their particular situations. Part IV.B develops the basic parameters of this proposal. The article ends with a brief conclusion.

Environmental Regulation Of Nanotechnology: Some Preliminary Observations, Glenn Harlan Reynolds

Scholarly Works

No abstract provided.

Cost-Benefit Default Principles, Cass R. Sunstein

Michigan Law Review

Courts should be reluctant to apply the literal terms of a statute to mandate pointless expenditures of effort. . .. Unless Congress has been extraordinarily rigid, there is likely a basis for an implication of de minimis authority to provide exemption when the burdens of regulation yield a gain of trivial or no value. It seems bizarre that a statute intended to improve human health would .. . lock the agency into looking at only one half of a substance's health effects in determining the maximum level for that substance. [I]t is only where there is "clear congressional intent to …

Stock Market Volatility And 401 (K) Plans, Colleen E. Medill

University of Michigan Journal of Law Reform

Many workers today depend on their 401(k) plan to provide them with an adequate income during retirement. For these workers to achieve retirement income security, their 401(k) plan investments must perform well over their working lifetime. Employers' selection of investment options for the 401(k) plan, a fiduciary duty under the Employee Retirement Income Security Act of 1974 (ERISA), plays a critical role in determining investment performance. In this Article, Professor Medill uses a series of hypothetical litigation scenarios to illustrate how interpretation of the employer's duty of prudence and duty of loyalty under ERISA present different policy choices for the …

Integrating Ecosystem Services Into Environmental Law: A Case Study Of Wetlands Mitigation Banking, J.B. Ruhl, R. Juge Gregg

Vanderbilt Law School Faculty Publications

This article argues that Section 404 of the Clean Water Act provides ample statutory authority for the Corps of Engineers and EPA to integrate ecosystem service values and impacts into wetlands impact and mitigation decisions.

Regulatory Regime: Canada-Newfoundland/ Nova Scotia Offshore Petroleum Board Issues, Angus Taylor, Jim Dickey

Dalhousie Law Journal

This article identifies and comments on some of the issues which may be of interest respecting petroleum operations in the Newfoundland and Nova Scotia offshore areas. An emphasis has been placed on identifying some of the issues from an operational context and from a regulator's perspective, with some legal analysis provided where appropriate.

Filth, Filtering, And The First Amendment: Ruminations On Public Libraries’ Use Of Internet Filtering Software, Bernard W. Bell

Federal Communications Law Journal

Traditionally, whenever the government has sought to regulate speech, analysis of its action focused on conventional issues, such as the type of forum involved, whether the government acted in a regulatory or a proprietary role, and whether the regulation could be defined as a prior restraint. With the advent of the Internet and the opportunity for the widespread dissemination of viewpoints, however, new issues have arisen. This Article focuses on the complex questions public libraries face when filtering material, usually of a sexually explicit nature, from the public using filtering software. This Article contends that public libraries require a unique …

Miranda'S Mistake, William J. Stuntz

Michigan Law Review

The oddest thing about Miranda is its politics - a point reinforced by the decision in, and the reaction to, Dickerson v. United States. In Dickerson, the Supreme Court faced the question whether Miranda ought to be overturned, either directly or by permitting legislative overrides. The lawyers, the literature, and the Court split along right-left - or, in the Court's case, right-center - lines, with the right seeking to do away with Miranda's restrictions on police questioning, and the left (or center) seeking to maintain them. The split is familiar. Reactions to Miranda have always divided along ideological lines, with …

Building A Strong Subnational Debt Market, Paul S. Maco

Richmond Journal of Global Law & Business

Decentralization of responsibility for finance and growing infrastructure needs are two trends that are expected to stimulate a growth in government borrowing at the sub-national level. Statistics for the first half of 2000 show a significant increase in sub-national debt volume, with global public finance, excluding Canada and the United States, more than doubling that of the first half of 1999.

Insurer Moral Hazard In The Workers' Compensation Crisis: Reforming Cost Inflation, Not Rate Suppression, Martha T. Mccluskey

Journal Articles

This article challenges the standard story of the insurance crisis that led to the near-collapse and major reform of a number of states’ workers’ compensation programs in the 1980s and 1990s.

In the prevailing account, insurance costs rose due to expanding costs of benefits for injured workers’, much of which was blamed on wasteful or abusive "moral hazard" by workers and their lawyers and doctors. Because state regulators had substantial power to control insurance rates, this account claims governments tried to suppress prices in the face of rising benefit costs in a misguided attempt to avoid political trade-offs between labor …

Lindsey V. Tacoma-Pierce County Health Department: Cipollone Revisited, Billboards, State Law Tort Damages Actions, Federal Preemption And The Federal Cigarette Labeling And Advertising Act, Harold C. Reeder

Seattle University Law Review

The Article evaluates Lindsey and other recent cases dealing with local regulations restricting tobacco advertising; it also examines their respective preemption analyses, suggesting that the use of the FCLAA's preemption provision against such regulations is unwarranted. The article argues that in Lindsey, the Ninth Circuit misconstrued the Supreme Court's discussion of the preemptive scope of the FCLAA by failing to read it in the proper contex and that the FCLAA's preemption provision was not intended to prevent the particular types of regulations involved in Lindsey and these other cases. It argues that the preemption provision was only meant to …

Regulation Fd: Sec Reestablishes Enforcement Capabilities Over Selective Disclosure., John P. Jennings

St. Mary's Law Journal

This Recent Development focuses on the potential effects Regulation Fair Disclosure (FD) will have on the participants in the American capital market and on the stock markets themselves. Congress and the Securities Exchange Commission (SEC) seek to achieve confidence in the integrity and fairness of the American stock market and protection of investors from fraud by promoting equal opportunities for investors. In order to maintain a competitive edge, vis-à-vis its foreign counterparts, the United States must continually refine its financial systems to maximize fairness and integrity. This Recent Development focuses on selective disclosure—allowing a limited segment of investors access to …

Responsible Regulation: A Sensible Cost-Benefit, Risk Versus Risk Approach To Federal Health And Safety Regulation, Steve Calandrillo

Articles

Federal health and safety regulations have saved or improved the lives of thousands of Americans, but protecting our citizens from risk entails significant costs. In a world of limited resources, we must spend our regulatory dollars responsibly in order to do the most we can with the money we have. Given the infeasibility of creating a risk-free society, this paper argues that a sensible cost-benefit, risk versus risk approach be taken in the design of U.S. regulatory oversight policy. The goal should always be to further the best interests of the nation, rather than to satisfy the narrow agenda of …

Leach Keynote Address, James A. Leach

Fordham Journal of Corporate & Financial Law

No abstract provided.

Insider Trading, Selective Disclosure And Prompt Disclosure: A Comparative Analysis, Marc I. Steinberg

Faculty Journal Articles and Book Chapters

This article focuses on regulation of insider trading and company affirmative disclosure in developed securities markets. First, the U.S. regime is discussed. Thereafter, the securities laws of selected developed markets are addressed in order to provide contrasts to the U.S. approach. Last, the article focuses on a number of significant issues that merit exploration.

Multinational Regulatory Competition And Single-Stock Futures , Frank Partnoy

Northwestern Journal of International Law & Business

Whereas these first two forms of regulatory competition are well documented and covered in the legal literature, the third form - which I call "multinational regulatory competition" - is newer and more difficult to characterize. Accordingly, any claims about future regulatory competition in this form necessarily are speculative. By "multinational regulatory competition," I mean competition occurring when a group of regulators from more than one sovereign forms a partnership as a multinational regulator and then seeks to compete with other groups of regulators, also formed from more than one sovereign. There is some recent empirical evidence that regulatory trends in …

Privacy Versus The First Amendment: A Skeptical Approach, Solveig Singleton

Fordham Intellectual Property, Media and Entertainment Law Journal

No abstract provided.

Proactive Legislation And The First Amendment, Stuart Minor Benjamin

Michigan Law Review

It is a commonplace that the world is changing rapidly, with whole sectors of the economy being transformed. New forms of communication, like the World Wide Web, e-mail, and satellite television, have risen from obscurity to ubiquity in less than a decade. The speed of these changes has led some to express concern about the ability of governments to respond. The fear is that governments cannot keep up with developments as they occur and thus get hopelessly behind. The solution, according to some, is for the government to act proactively - before a harm has arisen, so that the government …

Opting Out Of Regulation: A Public Choice Analysis Of Contractual Choice Of Law, Erin A. O'Hara

Vanderbilt Law Review

This Article uses public choice theory to analyze the function of choice-of-law clauses in contracts. Choice-of-law clauses are now quite common and are increasingly enforced, especially with the proliferation of international and Internet transactions. Because these clauses can be used by parties to avoid regulation, academics are now vigorously debating the extent to which this contractual opt out should be permitted. The Article presents a positive political theory of the interplay of legislative action and the enforcement of choice of law. It demonstrates that the important normative debate over choice of law is somewhat misguided because both sides fail to …

Connecting Regulations And Competition Law: A Swiss Perspective On Liberalization, Christian Bovet, Philippe Gugler

Law and Contemporary Problems

It is debated whether it is possible to liberalize markets successfully by means of introducing unrestrained competition only, or whether it is necessary to have regulators to supervise the opening of markets in adversarial administrative proceedings. Switzerland's problems and solutions in regards to the liberalization of its telecommunications industry are described.

The Insidious Remnants Of State Rules Respecting Capital Formation, Rutheford B. Campbell Jr.

Law Faculty Scholarly Articles

As we move into the Twenty-First Century, state blue sky laws and regulations continue to govern a significant portion of the capital formation activities of our domestic businesses. As a result, state administrators, influenced by their historically informed preferences and local traditions, continue to play important roles when businesses attempt to access external capital sources.

Today, however, the effects of state blue sky laws, regulations, and administrators on capital formation are felt almost exclusively by small businesses. The capital formation activities of larger businesses generally have been freed from state control, most recently by the preemption contained in the National …

Premises For Reforming The Regulation Of Securities Offerings: An Essay, James D. Cox

Law and Contemporary Problems

Cox discusses six fundamental tenets that should guide the regulation of public offerings of securities. It is assumed that regulation is to be re-examined from the ground up, with no political or regulatory constraints.

Telemedicine: Rx For The Future Of Health Care, Susan E. Volkert

Michigan Telecommunications & Technology Law Review

Quite simply, telemedicine symbolizes and catalyzes the clash between the reality of our legal and political approach to health care and the American dream of bringing health care to all patients. Telemedicine, like our health care delivery systems, is regulated by many layers of government. Unlike other issues, telemedicine cuts through and challenges the traditional controls of access and cost. As such, telemedicine is a microcosm of our health care delivery system and a lens through which one may analyze the obstacles to access in the current system. This article examines these issues, proposes that telemedicine's goal should be to …

German Mdps: Lessons To Learn, Laurel Terry

Faculty Scholarly Works

This article is the third of four major articles or book chapters that I have written about MDPs. This article focuses on German multidisciplinary partnerships (MDPs) between lawyers and accountants. The German MDP experience is important because Germany is one of the few jurisdictions that expressly permits MDPs and because conferences about World Trade Organization's General Agreement on Trade in Services (the GATS) have cited to Germany when suggesting that other countries' MDP bans may be unnecessarily restrictive. After introducing common MDP regulatory issues, this article focuses on Germany. The article explains Germany's current regulation of MDPs and provides a …

From Consumers To Users: Shifting The Deeper Structures Of Regulation Toward Sustainable Commons And User Access, Yochai Benkler

Federal Communications Law Journal

No abstract provided.

Climbing The Walls Of Your Electronic Cage, Steven Hetcher

Michigan Law Review

Space. The final frontier. Not so, say the doyennes of the firstgeneration Internet community, who view themselves as the new frontiersmen and women staking out a previously unexplored territory - cyberspace. Numerous metaphors in the Internet literature picture cyberspace as a new, previously unexplored domain. Parallels are frequently drawn to the American colonies, the Western frontier, or outer space. In Code: And Other Laws of Cyberspace, Lawrence Lessig says, "Cyberspace is a place. People live there." In this place, we will build a "new society" (p. 4). A sense of this background is helpful in appraising Lessig's claims. He argues …

Control And Governance Of Transmission Organizations In The Restructured Electricity Industry, Charles H. Koch, Jr.

Florida State University Law Review

No abstract provided.

Online Auction Fraud: Are The Auction Houses Doing All They Should Or Could To Stop Online Fraud?, James M. Snyder

Federal Communications Law Journal

In April 1998, the FTC released a consumer alert pertaining to the increasing problem of online auction fraud. As the number of online auction participants increased, online auction fraud was becoming more prevalent. The FTC requested comments regarding methods that would be appropriate for curbing the increase in consumer deception. Many in the online auction industry proposed voluntary self-regulation. This Note exposes the inadequacy of industry self-regulation by analogizing online auction abuse with the misuse and near downfall of the 900-number industry. This Note proposes that only a regime of strict industry guidelines that the FTC initiates will halt online …