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Fordham Journal of Corporate & Financial Law

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Full-Text Articles in Banking and Finance Law

Lessons From The Flash Crash For The Regulation Of High-Frequency Traders, Edgar Ortega Barrales Jan 2012

Lessons From The Flash Crash For The Regulation Of High-Frequency Traders, Edgar Ortega Barrales

Fordham Journal of Corporate & Financial Law

Are equity markets vulnerable to a sudden collapse if the traders who account for about half of the volume have no regulatory obligations to stabilize prices? After the “Flash Crash” of May 6, 2010, policymakers have resoundingly answered this question in the affirmative. During the worst of the crash, some of the so-called high-frequency trading firms that dominate equity markets stopped trading and prices collapsed, momentarily wiping out almost $1 trillion in market value. In response, the U.S. Securities and Exchange Commission is considering whether high-frequency trading firms should be required to act as the traders of last resort. This …


Burning Down The House Or Simply Rolling The Dice: A Comment On Section 621 Of The Dodd-Frank Act And Recommendation For Its Implementation, Joshua R. Rosenthal Jan 2012

Burning Down The House Or Simply Rolling The Dice: A Comment On Section 621 Of The Dodd-Frank Act And Recommendation For Its Implementation, Joshua R. Rosenthal

Fordham Journal of Corporate & Financial Law

Section 621 of the Dodd-Frank Wall Street Reform and Consumer Protection Act modifies the Securities Act of 1933 to prohibit the underwriter, placement agent, initial purchaser, or sponsor, or any affiliate or subsidiary of any such entity of an asset-backed financial product from betting against that very product for one year after the product’s initial sale. The rule prohibits anyone who structures or sells an asset-backed security or a product composed of asset-backed securities from going short, in the specified timeframe, on what they have sold, and labels such transactions as presenting material conflicts of interest. This Comment discusses traces …


The Eleventh Annual Albert A. Destefano Lecture On Corporate, Securities & Financial Law At The Fordham Corporate Law Center: Are Federal Judges Competent? Dilettantes In An Age Of Economic Expertise, The Honorable Jed Rakoff Jan 2012

The Eleventh Annual Albert A. Destefano Lecture On Corporate, Securities & Financial Law At The Fordham Corporate Law Center: Are Federal Judges Competent? Dilettantes In An Age Of Economic Expertise, The Honorable Jed Rakoff

Fordham Journal of Corporate & Financial Law

The title of my little talk here tonight is “Are

Federal Judges Competent?” This naturally raises the question of whether I am competent to answer that question. I put this question to myself, and, after careful consideration of both sides of the argument, concluded that I am competent to determine whether I am competent. As H. L. Mencken once said, “A judge is a law student who grades his own exams.”


323 Non-Managing Underwriters’ Role In Securities Offerings: Just Eye Candy?, Elena Marty-Nelson Jan 2011

323 Non-Managing Underwriters’ Role In Securities Offerings: Just Eye Candy?, Elena Marty-Nelson

Fordham Journal of Corporate & Financial Law

While there is considerable scholarship on the due diligence defense of lead underwriters in defective corporate securities offerings, there is surprisingly little analysis of the due diligence defense of non-managing underwriters. This article challenges the common perception that lead and non-managing underwriters necessarily “sink or swim” together for purposes of due diligence. An analysis of the statutory structure of Section 11 of the Securities Act of 1933 reveals that non-managing underwriters are not inextricably tethered to the lead. Rather, non-managing underwriters who actively question the lead’s due diligence investigation should be able to meet their own affirmative defense even when …


Bankruptcy’S Protection For Non-Debtors From Securities Fraud Litigation, John M. M. Wunderlich Jan 2011

Bankruptcy’S Protection For Non-Debtors From Securities Fraud Litigation, John M. M. Wunderlich

Fordham Journal of Corporate & Financial Law

Given the recent economic climate, the judiciary faces an all too familiar challenge: navigate through the web that is bankruptcy and securities fraud. So far, bankruptcy has evolved into a tool to resolve mass tort litigation, like securities fraud. However, this Article explores bankruptcy as a tool to resolve securities litigation against non-debtors, those that never file for bankruptcy protection. The protection the Bankruptcy Code provides to non-debtors, like officers and directors, goes largely unnoticed, much to the detriment of securities fraud victims. Mindful that we now are in the midst of another financial crisis and that attention will slowly …


Llcs Are The New King Of The Hill: An Empirical Study Of The Number Of New Llcs, Corporations And Lps Formed In The United States Between 2004-2007 And How Llcs Were Taxed For Tax Years 2002-2006, Rodney D. Chrisman Jan 2010

Llcs Are The New King Of The Hill: An Empirical Study Of The Number Of New Llcs, Corporations And Lps Formed In The United States Between 2004-2007 And How Llcs Were Taxed For Tax Years 2002-2006, Rodney D. Chrisman

Fordham Journal of Corporate & Financial Law

No abstract provided.


Quantitative Proof Of Reputational Harm, Meiring De Villiers Jan 2010

Quantitative Proof Of Reputational Harm, Meiring De Villiers

Fordham Journal of Corporate & Financial Law

No abstract provided.


Simultaneous Distress Of Residential Developers And Their Secured Lenders An Analysis Of Bankruptcy & Bank Regulation , Sarah Pei Woo Jan 2010

Simultaneous Distress Of Residential Developers And Their Secured Lenders An Analysis Of Bankruptcy & Bank Regulation , Sarah Pei Woo

Fordham Journal of Corporate & Financial Law

No abstract provided.


Stretching The Limits Of Deal Protection Devices: From Omnicare To Wachovia, Eleonora Gerasimchuk Jan 2010

Stretching The Limits Of Deal Protection Devices: From Omnicare To Wachovia, Eleonora Gerasimchuk

Fordham Journal of Corporate & Financial Law

No abstract provided.


A Dissent Dampened By Timing: How The Stock Market Exception Systematically Deprives Public , Jeff Goetz Jan 2010

A Dissent Dampened By Timing: How The Stock Market Exception Systematically Deprives Public , Jeff Goetz

Fordham Journal of Corporate & Financial Law

No abstract provided.


I.R.C. Section 7430 Attorney's Fees: Navigating Section 7430 And A Call For The Final Act, Jeffrey E. Ouijano, Rodney P. Mock Jan 2010

I.R.C. Section 7430 Attorney's Fees: Navigating Section 7430 And A Call For The Final Act, Jeffrey E. Ouijano, Rodney P. Mock

Fordham Journal of Corporate & Financial Law

No abstract provided.


In The Wake Of Empagran – Lights Out On Foreign Activity Falling Under Sherman Act Jurisdiction? Courts Carve Out A Prevailing Standard, Kelly L. Tucker Jan 2010

In The Wake Of Empagran – Lights Out On Foreign Activity Falling Under Sherman Act Jurisdiction? Courts Carve Out A Prevailing Standard, Kelly L. Tucker

Fordham Journal of Corporate & Financial Law

No abstract provided.


Lecture At Fordham Corporate Law Center By William Dudley, President Of Federal Reserve Bank Of New York, William Dudley Jan 2010

Lecture At Fordham Corporate Law Center By William Dudley, President Of Federal Reserve Bank Of New York, William Dudley

Fordham Journal of Corporate & Financial Law

No abstract provided.


Risks And Hedges Of Providing Liquidity In Complex Securities: The Impact Of Insider Trading On Options Market Makers, Stanislav Dolgopolov Jan 2010

Risks And Hedges Of Providing Liquidity In Complex Securities: The Impact Of Insider Trading On Options Market Makers, Stanislav Dolgopolov

Fordham Journal of Corporate & Financial Law

No abstract provided.


Financial Statement Reporting Of Pending Litigation: Attorneys, Auditors, And Difference Of Opinions, W. R. Koprowski, Steven J. Arsenault, Michael Cipriano Jan 2010

Financial Statement Reporting Of Pending Litigation: Attorneys, Auditors, And Difference Of Opinions, W. R. Koprowski, Steven J. Arsenault, Michael Cipriano

Fordham Journal of Corporate & Financial Law

No abstract provided.


A Short History Of Tontines, Kent Mckeever Jan 2010

A Short History Of Tontines, Kent Mckeever

Fordham Journal of Corporate & Financial Law

No abstract provided.


The Tenth Annual A. A. Sommer, Jr. Lecture On Corporate, Securities, & Financial Law, Elisse B. Walter Jan 2010

The Tenth Annual A. A. Sommer, Jr. Lecture On Corporate, Securities, & Financial Law, Elisse B. Walter

Fordham Journal of Corporate & Financial Law

No abstract provided.


Eat Your Vegetables (Or At Least Understand Why You Should): Can Better Warning And Education Of Prospective Minority Owners Reduce Oppression In Closely Held Businesses?, Michael K. Molitor Jan 2009

Eat Your Vegetables (Or At Least Understand Why You Should): Can Better Warning And Education Of Prospective Minority Owners Reduce Oppression In Closely Held Businesses?, Michael K. Molitor

Fordham Journal of Corporate & Financial Law

No abstract provided.


The Crumbled Difference Between Legal And Illegal Arbitration Awards: Hall Street Associates And The Waning Public Policy Exception, Jonathan A. Marcantel Jan 2009

The Crumbled Difference Between Legal And Illegal Arbitration Awards: Hall Street Associates And The Waning Public Policy Exception, Jonathan A. Marcantel

Fordham Journal of Corporate & Financial Law

No abstract provided.


Securities Fraud, Officer And Director Bars, And The "Unfitness" Inquiry After Sarbanes-Oxley, Jon Carlson Jan 2009

Securities Fraud, Officer And Director Bars, And The "Unfitness" Inquiry After Sarbanes-Oxley, Jon Carlson

Fordham Journal of Corporate & Financial Law

No abstract provided.


Responding To The Subprime Mess: The New Regulatory Landscape, David Schmudde Jan 2009

Responding To The Subprime Mess: The New Regulatory Landscape, David Schmudde

Fordham Journal of Corporate & Financial Law

No abstract provided.


Don't Cry For Me Argentina: Economic Crises And The Restructuring Of Financial Property, Horacio Spector Jan 2009

Don't Cry For Me Argentina: Economic Crises And The Restructuring Of Financial Property, Horacio Spector

Fordham Journal of Corporate & Financial Law

No abstract provided.


Covered Bonds: Shelter From Financial Turmoil, Exposure To The 1940 Act, Steve Flantsbaum Jan 2009

Covered Bonds: Shelter From Financial Turmoil, Exposure To The 1940 Act, Steve Flantsbaum

Fordham Journal of Corporate & Financial Law

No abstract provided.


D&O Insurance In Bankruptcy: Just Another Business Contract, Elina Chechelnitsky Jan 2009

D&O Insurance In Bankruptcy: Just Another Business Contract, Elina Chechelnitsky

Fordham Journal of Corporate & Financial Law

No abstract provided.


Cornerstone Investors And Initial Public Offerings On The Stock Exchange Of Hong Kong, Chee Keong Low Jan 2009

Cornerstone Investors And Initial Public Offerings On The Stock Exchange Of Hong Kong, Chee Keong Low

Fordham Journal of Corporate & Financial Law

No abstract provided.


From Vanilla Swaps To Exotic Credit Derivatives: How To Approach The Interpretation Of Credit Events, Jongho Kim, Ph.D Jan 2008

From Vanilla Swaps To Exotic Credit Derivatives: How To Approach The Interpretation Of Credit Events, Jongho Kim, Ph.D

Fordham Journal of Corporate & Financial Law

No abstract provided.


Panel Discussion: Subprime Mortgage Meltdown And The Global Financial Crisis, William Michael Treanor, Constantine N. Katsoris, Jill E. Fisch, Stuart Kaswell, Steven M. Cohen, Harvey Miller, Gretchen Morgenson, Richard Neiman, Giovanni Prezioso, Muriel Siebert Jan 2008

Panel Discussion: Subprime Mortgage Meltdown And The Global Financial Crisis, William Michael Treanor, Constantine N. Katsoris, Jill E. Fisch, Stuart Kaswell, Steven M. Cohen, Harvey Miller, Gretchen Morgenson, Richard Neiman, Giovanni Prezioso, Muriel Siebert

Fordham Journal of Corporate & Financial Law

No abstract provided.


Returning Rico To Racketeers: Corporations Cannot Constitute An Associated-In-Fact Enterprise Under 18 U.S.C. § 1961(4), Caroline N. Mitchell, Jordan Cunningham, Mark R. Lentz Jan 2008

Returning Rico To Racketeers: Corporations Cannot Constitute An Associated-In-Fact Enterprise Under 18 U.S.C. § 1961(4), Caroline N. Mitchell, Jordan Cunningham, Mark R. Lentz

Fordham Journal of Corporate & Financial Law

No abstract provided.


A Redeeming Interest In Religious Freedom: Are Islamic Mortgage Alternatives Clogs On The Equitable Right Of Redemption?, Scott Griswold Jan 2008

A Redeeming Interest In Religious Freedom: Are Islamic Mortgage Alternatives Clogs On The Equitable Right Of Redemption?, Scott Griswold

Fordham Journal of Corporate & Financial Law

No abstract provided.


A Proposal For Protecting Executive Communications With Corporate Counsel After Corporate Client Has Waived Its Attorney-Client Privilege , John W. Gergacz Jan 2008

A Proposal For Protecting Executive Communications With Corporate Counsel After Corporate Client Has Waived Its Attorney-Client Privilege , John W. Gergacz

Fordham Journal of Corporate & Financial Law

No abstract provided.