Law Commons^™

Does Climate Disclosure Work To Reduce Greenhouse Gas Emissions? Emerging Evidence Suggests Cautious Optimism, Cynthia A. Williams

Seattle University Law Review

Significant regulatory resources have been spent developing global, voluntary climate and sustainability disclosure standards, such as the TCFD, TNRD, and ISSB’s Sustainability and Climate Disclosure standards, or domestically required disclosures, such as in the EU and in the U.S. Thus, it is important to evaluate whether this disclosure, particularly voluntary, qualitative disclosure, will have the power to shift the allocation of capital, will have a significant effect on the management of climate risk within firms, and ultimately will reduce climate change risk and biodiversity loss.

In this Article, several interrelated questions will be discussed. First, what does the empirical evidence …

Ftc V. Amazon: A Turning Point For Antitrust Law?, Matthew Cole Conover

Washington and Lee Journal of Civil Rights and Social Justice

The United States is experiencing crippling economic inequalities that harken back to the Gilded Age. For the first time, legal scholars have turned to antitrust law to reverse this alarming trend. These scholars, including current Federal Trade Commission Chairwoman Lina Khan, are testing this ambitious theory in the E-commerce industry. E-commerce is a market largely dominated by one company: Amazon. With its dominance, Amazon lures small businesses into its third-party seller marketplace, where it controls those business’s prices and punishes those that resist. Lina Kahn’s FTC has formally launched its litigation campaign against Amazon, claiming that the company has violated …

Self-Regulation In Emerging And Innovative Industries, Daniel E. Walters, Hannah J. Wiseman

Faculty Scholarship

Self-regulation—governance of firm behavior by private entities—has a long history both in the United States and globally, and there is an extensive literature on the topic. But there has been far less attention paid to the role self-regulation can play in spurring and enabling innovation and growth within emerging industries. These industries—both currently ascendant ones such as hydrogen and artificial intelligence, as well as formerly new (but now well established) activities in hydraulic fracturing and Internet communications—plausibly benefit from self-regulation’s ability to coordinate economic actors and reassure often skeptical publics. Examining the ways that self-regulation impacts this special type of …

The Great Unsettling: Administrative Governance After Loper Bright, Cary Coglianese, Daniel E. Walters

Faculty Scholarship

“Chevron is overruled.” These three words surely captured more attention than any others in the U.S. Supreme Court’s thirty-five-page opinion in Loper Bright Enterprises v. Raimondo. For forty years, the Chevron doctrine had been virtually synonymous with administrative law. Now that the Court has taken a step that many scholars thought unfathomable even just a few years ago, speculation abounds about the possible downstream impacts of Loper Bright on both what agencies will be able to do in the future and how lower courts will respond when reviewing agency action. The vast majority of early expert commentaries suggest …

Healthcare Ai's Unlearned Intermediaries, Charlotte A. Tschider

Faculty Publications & Other Works

The U.S. Food & Drug Administration (“FDA”), as the largest and one of the most influential federal agencies, plays a significant role informing downstream tort actions, such as product liability claims against medical product manufacturers.  The contours of the relationship between regulatory behavior and tort law are allocated according to congressional act and through judicial interpretation of agency action.  While artificially intelligent medical devices are technically regulated by the FDA, FDA regulatory approaches may not meaningfully reduce the probability of patient injury.  When, despite inadequate ex ante processes, injured plaintiffs cannot recover in tort due to court perceptions of regulatory …

Impacts Of Recent Us Supreme Court Administrative Law Jurisprudence On The Electricity Wholesale Markets, Joel B. Eisen

Law Faculty Publications

Recent decisions by the US Supreme Court have prompted a shift toward limiting the authority of US federal administrative agencies, including the Federal Energy Regulatory Commission (FERC), the agency that oversees the nation’s wholesale electricity markets. This Article explores the impact of several of the Court’s major decisions on rules and administrative orders by FERC that govern the wholesale markets. These include decisions empowering judges to overturn agency regulations, enabling challengers to agency enforcement to force agencies to pursue cases in federal courts, and allowing lawsuits to challenge agency rules long after their issuance. These decisions promise to have significant …

Unflexed Muscle: Sec Enforcement And Officer Sox 302 Certifications, Marc I. Steinberg, A.B. Steinberg

Faculty Journal Articles and Book Chapters

This article represents the first work to analyze the Securities and Exchange Commission’s neglect in its enforcement of the chief executive officer (CEO) and chief financial officer (CFO) Sarbanes-Oxley certification requirement. The article addresses the appropriate construction of the statute’s reach, the enforcement proceedings instituted by the SEC under this provision, and the Commission’s failure to fulfill its legislative directive to enforce this statute and Rule 13a-14 promulgated thereunder. In its implementation of the CEO and CFO certification requirement, the SEC has brought relatively few enforcement actions during over a two-decade period. Its enforcement with respect to CEOs and CFOs …

Climate Proof Electricity, Kristen Van De Biezendos

Faculty Scholarship

The devastating impacts of climate change make themselves known in the form of fires, floods, droughts, storms, extreme heat and cold, and worsening socioeconomic conditions around the globe. At the same time, the U.S. electricity system has never been more vulnerable to severe weather. Even as we embark on a national project to decarbonize the electricity system by 2035, the U.S. leads the developed world in power outages. These outages are in large part due to aging infrastructure, improperly weatherized systems, vegetation crashing down on transmission and distribution lines and—perhaps most devastating of all—wildfires caused by fallen power lines in …

The Impact Of Artificial Intelligence On Copyright Infringement Liability, Sarah M. Rizzo

Touro Law Review

Although the rise of artificial intelligence platforms has been promoted as a solution to many of our problems, it is important to address the possible issues this new technology may be creating. With artificial intelligence evolving at such a rapid rate, questions arise as to how to effectively regulate and control this technology. Specifically, in the realm of intellectual property, how will copyright protection be ensured and how will liability for copyright infringement be apportioned with the expanding use of artificial intelligence? Users of artificial intelligence platforms should be able to employ such artificial intelligence products freely and confidently without …

Ban Cookie Banners: A Case Study In Tech Regulation, Kate Klonick

Faculty Publications

Few experiences on the modern internet are as universally reviled as the cookie banner. They clutter websites with pop-ups, interrupt user flow, make information harder to access, and demand repetitive, meaningless clicks. What was once heralded as a tool to advance individual autonomy and privacy has, in practice, become a daily annoyance that breeds cynicism with the very concept of consent itself. Cookie banners do not empower; they weary. They do not inform; they obscure. They do not prevent surveillance; they normalize it.

The tragedy of the cookie banner is that it embodies the best intentions but worst solutionism of …

Ai Ethics, Law, And Policy, Pauline Kim, Ryan Durrie

Scholarship@WashULaw

AI technologies promise many benefits, but they can also have significant negative impacts on human health, safety, well-being, and fundamental rights. This chapter explores the different governance tools that have been considered for guiding developments in AI in socially beneficial ways, examining the relevance of ethics, law, and policy. Each of these approaches offer tools to address these concerns; however, each has limitations, and none provides a complete solution in itself. Statements of ethical principles can articulate high-level values and goals to guide behavior but are usually quite vague and difficult to operationalize. They also lack any enforcement mechanism. In …

Artificial Intelligence And Energy Democracy, Joel B. Eisen, Heather E. Payne

Law Faculty Publications

Artificial intelligence (AI) is quickly transforming many professional activities, and the electric grid has already started to see adverse impacts from its use, such as the burgeoning demand for electricity from data centers. This Article acknowledges these impacts, but also demonstrates that AI can be put to beneficial use on the grid. It proposes and describes a specific use of AI: assisting citizen intervenors in public utility commission (PUC) proceedings, who currently face barriers to participation due to the technical complexity and confidentiality imposed by monopoly utilities. The Article describes how AI can assist intervenors to overcome the barriers to …

Ai And Doctrinal Collapse, Alicia Solow-Niederman

GW Law Faculty Publications & Other Works

Artificial intelligence runs on data. But the two legal regimes that govern data—information privacy law and copyright law—are under pressure. Formally, each regime demands different things. Functionally, the boundaries between them are blurring, and their distinct rules and logics are becoming illegible.

This Article identifies this phenomenon, which I call “inter-regime doctrinal collapse,” and exposes the individual and institutional consequences. Left unchecked, the data acquisition status quo favors established corporate players and impedes law’s ability to constrain the arbitrary exercise of private power. Through analysis of pending litigation, discovery disputes, and licensing agreements, this Article exposes two dominant exploitation tactics …

How Artificial Intelligence Will Shape Securities Regulation, Gabriel Rauterberg

Other Publications

How will the increasing prevalence and sophistication of artificial intelligence (AI) change the doctrine and practice of securities law? My main thesis is that it will push securities regulation toward a more systems-oriented approach. This approach will replace securities law's emphasis, in areas like manipulation, on forms of enforcement targeted at specific individuals and accompanied by punitive sanctions with a greater focus on ex ante rules designed to shape an ecology of actors and information.

The First Amendment, Global Corporate Responsibility Standards, & The Quest For Online "Speech Nirvana", Evelyn Aswad

Faculty Articles

With large and powerful social media companies operating as worldwide speech regulators, it is unsurprising that governments have attempted to not only regulate how these companies address platform speech but also pressure them to deliver preferred speech outcomes. In 2024, the Supreme Court decided two cases addressing both themes in the U.S. context. In Moody v. NetChoice, the Court explained how legislation regulating private platform curation of usergenerated content runs afoul of First Amendment protections. And, in Murthy v. Missouri, the Court appeared to erect significant hurdles to challenging alleged governmental coercion of such platforms. These cases have left many …

The Beleaguered Sovereign: Judicial Restraints On Public Enforcement, Luke P. Norris, Helen Hershkoff

Law Faculty Publications

Looking back at the federal courts over the last generation, commentators will likely focus on their role in undermining the functioning of the regulatory state. Well-acknowledged in this story are Supreme Court decisions that have constrained administrative agencies under the newly minted “major questions” doctrine, as well as the Court’s blockbuster decision overruling the longstanding Chevron doctrine. The Court also has made it increasingly difficult for individuals—often workers and consumers, people of color, women, and those who live from paycheck to paycheck—to seek federal judicial redress for regulatory violations as private enforcers. And the Court has questioned whether certain private …

The Supply Chain Is A Circle: Ai, Privacy, And People, Alicia Solow-Niederman

GW Law Faculty Publications & Other Works

Artificial Intelligence (AI) governance underscores the AI “supply chain” and the “many hands” involved in the creation of AI systems. Although invaluable, this production-centered approach risks overlooking what happens when people use AI tools. That’s a mistake, because user interactions determine the real-world impact of AI.

This Essay contends that regulating AI and holding the appropriate actors responsible requires far more attention to what happens after deployment of an AI system. The supply chain is an invaluable start, but it’s not a linear chain. Rather, it is a circle that must incorporate users’ engagement with AI tools as part of …

Predicting Federal Third-Party Funding Regulation, Victoria Sahani

Faculty Scholarship

Third-party funding is a global phenomenon, although regulatory enforcement is local. Regulatory approaches vary widely from country to country and within countries, especially in federal legal systems, such as Canada, Australia, and the United States. The United States federal government is learning about third-party funding with an eye toward potential future regulation. Congress has been investigating funding, as evidenced by testimony in congressional hearings, proposed federal legislation, and a nonpartisan study on third-party funding by the Government Accountability Office. In addition, after more than a decade of observation, the United States Federal Civil Rules Advisory Committee recently formed a committee …

Volume 7 (2024) Artificial Intelligence And Responsibility, Arwa Alnajashi, Danielle Derise, Philip L. Frana, David Mcgraw, Amanda Sawyer, Tatjana Titareva, Raafat Zaini, Allie Zombron

International Journal on Responsibility

The seventh volume of the International Journal on Responsibility (IJR) arrives at a crucial moment in the evolution of artificial intelligence and its integration into our academic and social fabric. As we witness the rapid advancement and deployment of AI systems across various domains, this special issue examines the multifaceted dimensions of responsibility surrounding AI technology, with a particular focus on its role in higher education and broader societal implications.

The articles in this volume contribute to our understanding of responsibility through diverse lenses, from classroom implementation to ethical design considerations. Together, they fulfill IJR’s central mission of exploring “Who …

New, Derivative: Third-Party Litigation Finance And Derivatives Regulation, Martin Flores

Washington and Lee Law Review Online

Litigation finance is globally abundant and largely unregulated in the United States. The mechanics behind third-party litigation finance are simple: The funder fronts litigation costs in exchange for a promised share of the proceeds if the litigant succeeds. While the normative debate about the value of these contracts in society endures, the litigation finance industry has new players in hedge funds and other opaque investment firms seeking high returns from risky litigation. Many scholars agree on whether to regulate these third-party litigation finance firms. The key debate rages on how to rein in an unbridled industry.

To add to this …

The Fashion Regulation Fight, Eliot L. Force

Capstones

Fast fashion is a rising global phenomenon with terrible consequences for the environment and laborers across the world. In the US, fashion-specific environmental and labor regulation is practically non-existent at the federal level, but some individual states have begun proposing fashion regulation bills with the aim of curbing the industry’s harms. But in every state where these regulations have been proposed, powerful industry trade groups and companies have been fighting back against those proposed regulations, with much success, through lobbying. As climate change gets worse and the fashion industry’s practices remain unchanged, the need for regulation only becomes greater, but …

Misinformed Depositors, Raj Ashar

University of Miami Business Law Review

Social media enables information to travel faster and wider than ever before, creating endless new possibilities. However, it also has opened the door to misinformation or disinformation, which has already wreaked havoc in many industries, including the financial sector. Given the importance of accurate information in banking stability, false information poses a real risk of causing bank runs that lead to bank failures.

This Article documents the risks that false information poses to the banking industry. It then turns its attention to the regulation of false information in securities markets, which has grappled with the issue for many years. Drawing …

Just Fix The Damn Payment System!, Frances H. Miller

Faculty Scholarship

This piece takes as a given that we are stuck with our fragmented, inefficient, multi-payor health care system for at least the short run. It then analyzes the deficiencies of three payment mechanisms whereby regulators (including Congress) have invited private sector providers to help ameliorate perceived problems. The first concerns an inadequate supply of nursing home beds in the early ‘70s, the next focuses on Medicare Advantage as a supposedly superior cost containment alternative to traditional Medicare, and the final one involves the ‘devil’s bargain’ struck with the pharmaceutical industry to get prescription drug coverage added to Medicare. All three …

Kei Briefing Note 2024:8 The Basic Proposal For The Design Law Treaty (Dlt) And Its Inappropriate Restrictions On Transparency, James Love

Joint PIJIP/TLS Research Paper Series

The World Intellectual Property Organization (WIPO) is holding a diplomatic conference from November 11 to 22, 2024 in Riyadh, Saudi Arabia, to conclude and adopt a Design Law Treaty (DLT). The negotiators will be working from the documents dated May 10, 2024: a thirty-one page “Basic Proposal For The Design Law Treaty” (DLT/DC/3), and a sixteen page “Basic Proposal For The Regulations Under The Design Law Treaty” (DLT/DC/4), both documents submitted by the Director General of WIPO, as well as a nineteen page, “Notes On The Basic Proposal For The Design Law Treaty” (DTL/DC/5), prepared by the WIPO Secretariat.

While …

Shedding Light On Climate Risk In 2025: Upcoming Debates About The Sec's Climate Disclosure Rule, Andrew Bernstein, Cynthia Hanawalt, Lisa E. Sachs, Chloe Field

Sabin Center for Climate Change Law

What will happen to the SEC’s March 2024 climate disclosure rule under the new U.S. federal administration? This paper seeks to contribute to the upcoming debates on this question after the 2024 election. Setting aside ideological considerations, this paper contends with novel questions of implementation and enforcement that the SEC will face in 2025, as it establishes climate disclosure policies under anticipated new leadership. Aided by an in-depth survey of existing climate reporting, the report discusses how companies are likely to determine what climate information is and is not material to their businesses and financial performance, and whether some companies …

Changemaker: Maureen Wagner Vinson: Juris Doctor: Bringing Election Law To Students 10-31-2024, Roger Williams University School Of Law

Life of the Law School (1993- )

No abstract provided.

The False Choice Between Digital Regulation And Innovation, Anu Bradford

Northwestern University Law Review

This Article challenges the common view that more stringent regulation of the digital economy inevitably compromises innovation and undermines technological progress. This view, vigorously advocated by the tech industry, has shaped the public discourse in the United States, where the country’s thriving tech economy is often associated with a staunch commitment to free markets. U.S. lawmakers have also traditionally embraced this perspective, which explains their hesitancy to regulate the tech industry to date. The European Union has chosen another path, regulating the digital economy with stringent data privacy, antitrust, content moderation, and other digital regulations designed to shape the evolution …

Gold & Blue Law Edition, Fall 2024, St. Mary's University - San Antonio, Texas

Gold & Blue Law Edition

This is the Fall 2024 edition of Gold & Blue Law Edition which is St. Mary's University's official School of Law publication.

The False Choice Between Digital Regulation And Innovation, Anu Bradford

Faculty Scholarship

This Article challenges the common view that more stringent regulation of the digital economy inevitably compromises innovation and undermines technological progress. This view, vigorously advocated by the tech industry, has shaped the public discourse in the United States, where the country’s thriving tech economy is often associated with a staunch commitment to free markets. U.S. lawmakers have also traditionally embraced this perspective, which explains their hesitancy to regulate the tech industry to date. The European Union has chosen another path, regulating the digital economy with stringent data privacy, antitrust, content moderation, and other digital regulations designed to shape the evolution …

Viscusi Circular A-4 Peer Review Comments, W. Kip Viscusi

Vanderbilt Law School Faculty Publications

This working paper provides commentary on my 2023 peer review panel comments on the 2023 Office of Management and Budget (OMB) Circular A-4. The Prologue section introduces my official peer review comments and indicates how the structure of my comments was tailored to the guidelines established by the OMB. The main section consists of my 2023 peer review comments as they were submitted to OMB. I recommended changes in the draft Circular A-4 to increase the discount rate from the 1.7% rate that OMB proposed, to report domestic benefits whenever global benefits are reported, to adopt a behavioral transfer test …