Banking and Finance Law Commons^™

Advising The Individual Investor: Comparing The Federal Regulation Of Investment Advisers, Banks, And Broker-Dealers, Alan M. Ahart

Pepperdine Law Review

No abstract provided.

Systemic Risk And Dodd-Frank's Volcker Rule, Julie A.D. Manasfi

William & Mary Business Law Review

With the recent global financial crisis starting in 2007, the issue of “systemic risk” has attracted much attention in our financial system. Some legislators have asserted that proprietary trading by banking entities, generally the trading of financial instruments for a banking entity’s own account, played a critical role in the recent global financial crisis. These sentiments parallel arguments that the practices of banks and their securities affiliates in the 1920s were partly responsible for the stock market crash of 1929 and subsequent Great Depression. At the heart of these assertions is the issue of whether combining the businesses of commercial …

How To Accomplish A Successful Tax-Free Pension Plan Rollover, Steven T. Graham

Pepperdine Law Review

Advising a client how to accomplish a tax-free rollover from one pension plan to another has been an area of confusion for the general practitioner. In order to end this confusion the author examines recent statutory amendments, Internal Revenue Service rulings and the Employee Retirement Income Security Act. The author then outlines, in conjunction with the recent changes in the law, potential pension plan rollover scenarios that can aid the client. After a thorough discussion of the available rollovers and the benefits and drawbacks of each, the author concludes with a chart designed to provide quick identification of the most …

Alternatives For Small Business Raising Capital Under The Securities Act Of 1933, David H. Barber

Pepperdine Law Review

The problems encountered by the business community in raising capital for new or small businesses has spurned implementation of responsive policy and regulations by the Securities and Exchange Commission. As a result of input from a series of nationwide small business hearings, the S.E.C. has recently demonstrated its commitment to aiding capital raising needs. This was accomplished by creating an Office of Small Business Policy to respond to the effects of major new changes to the Securities Act of 1933 which seek to facilitate the process of capitalization of small business. Professor David H. Barber, of Brigham Young University's J. …

Recent Legislative Changes As To The Reporting And Payment Of The Gift Tax: A Step Toward Tax Simplification, Harry F. Byrd Jr.

Pepperdine Law Review

The overly complex nature of the nation's tax laws has spurred congressional action to simplify the tax code. United States Senator Harry F. Byrd, Jr. has demonstrated his commitment toward this goal by his recent introduction of the Annual Gift Tax Return Act. This measure, enacted as part of the Economic Recovery Tax Act of 1981, provides a return to the system of annual gift tax reporting. More significantly, it demonstrates that simplification of the tax laws can be achieved without sacrificing other goals, and without additional costs to the taxpayer.

Effects Of The New Bankruptcy Code On Creditors With Secured Claims In Residential Real Property, Richard Mednick

Pepperdine Law Review

The sweeping changes brought about by the Bankruptcy Reform Act of 1978 may have a profound effect on the secured interests of lenders. The rights of a creditor against a debtor, and the procedure that he must follow vary with the chapter of the new Bankruptcy Code under which the debtor files his claim. Richard Mednick, a Judge on the Bankruptcy Court for the Central District of California, explains the procedures required and the interest affected by the most commonly invoked chapters of the new code. Judge Mednick strongly urges that creditors become familiar with these changes, as some new …

Was The Congressional Grant Of 'Bailout' Authority To Treasury Secretary Henry Paulson Really So "Unprecedented?": A Historical Analysis And Comparison Of Treasury Secretary Authority During Financial Crisis, Zachary Cormier

The Journal of Business, Entrepreneurship & the Law

No abstract provided.

Horse Syndication: A Sure Footed Winner In The Investment Sweepstakes, Thomas R. Catanese

Pepperdine Law Review

Recent changes in the scheme of federal taxation coupled with increasing interest in the equine industry has propelled that industry into the forefront of tax sheltered investments. In this article the author takes an in-depth look at the federal securities and tax law aspects of a typical equine syndication as a tax sheltered investment.

An Analysis Of Bank Defenses To Check Forgery And Alteration Claims Under Uniform Commercial Code Articles 3 And 4: Claimant's Negligence And Failure To Give Notice, John W. Hinchey

Pepperdine Law Review

In addressing the dual issues of check forgeries and alteration claims faced by many banks, the Uniform Commercial Code sets forth a system of rights and obligations to remedy these problems. In addition, Articles Three and Four also present an array of bank defenses, the availability of which are largely determined by the bank's position in this system. In this article, the author analyzes the inconsistencies and uncertainties inherent in this framework, and determines that there is much room for creativity on the part of banker's counsel in this area.

Antitrust And California's New Preferred Provider Organization Legislation: A New Alternative In Health Care Cost Containment , Carol A. Woo

Pepperdine Law Review

No abstract provided.

Mexico's Maquiladoras Examined: Are In-Bond Production Plants The Wave Of The Future?, Norman R. Gritsch

Pepperdine Law Review

No abstract provided.

Nonbank Banks: A Legitimate Financial Intermediary Emerges From The Bank Holding Company Act Loophole, John Erwin Trytek

Pepperdine Law Review

Nonbank banks represent the financial institutions' recent attempt to avoid the regulations of the Bank Holding Company Act. The evolution of the nonbank bank illustrates the vitality of financial markets and technological change. While banking regulatory statutes have remained static, the dynamics of technology and electronic banking have allowed financial institutions to transcend the state's traditional borders. When static federal regulations began to choke profits, financial institutions sought alternatives to traditional banking. The financial institutions stretched the fabric of banking regulations to their extreme, and the nonbank bank emerged through a loophole in the Bank Holding Company Act. This article …

Zappers & Employment Tax Fraud, Richard Thompson Ainsworth

Faculty Scholarship

Beyond the grey area of worker misclassifications and general employment tax irregularities there are darker employment relationships where workers are intentionally paid in cash “off-the-books” or “under-the-table.” Grey employment relationships present civil enforcement issues that may become criminal; darker-relationships are criminal from the beginning. Zappers are found on the dark side.

Zappers are fraud-technologies that automatically (and remotely) skim cash from electronic cash registers (ECRs) or back room point of sales (POS) systems. Globally, tax auditors are finding that Zappers frequently provide the cash that is used to compensate “under-the-table” workers. In fact, a Zapper appears to be at the …

Corporation Code Sections 309 And 1203: California Redefines Directors' Duties Towards Shareholders, Ernest F. Batenga, Mark Willis

Pepperdine Law Review

No abstract provided.

The New Shareholder Power, John C. Carter

Pepperdine Law Review

No abstract provided.

A Note On Individual Recovery In Derivative Suits, Richard A. Booth

Pepperdine Law Review

No abstract provided.

The Supreme Court And The Shareholder Litigant: Basic, Inc. V. Levinson In Context, Jayne W. Barnard

Pepperdine Law Review

No abstract provided.

The "In Connection With" Requirement Of Rule 10b-5, C. Edward Fletcher Iii

Pepperdine Law Review

No abstract provided.

Restricted Investment In Private Equity: The Volcker Rule's Incursion Into Banking?, Manasa Reddy Gummi

Cornell Law School LL.M. Student Research Papers

Investment in private equity originally came from individual investors and corporations. However, over the years institutional investors have become prominent in the investor pool with the hope of achieving risk adjusted returns. Banks have become significant sources of funds in the private equity market. Bank affiliate groups account for a significant share of the private equity activity as well as the banks’ own capital. A distinct feature of a leveraged buyout by a private equity firm as opposed to strategic buyouts and other transactions is the significant reliance on debt financing. Typically, shell companies with substantially no assets would be …

Financial Reform In The European Union: Establishing The Common Technical Rulebook, Derek Takehara

Global Business & Development Law Journal

No abstract provided.

Rethinking U.S. Investment Adviser Regulation, Anita Krug

All Faculty Scholarship

(Excerpt)Now, in the aftermath of Dodd-Frank's enactment and the SEC's associated bout of rulemaking, one might think that the Advisers Act's regulatory regime is a workable and effective one, equipped to address - and address efficiently - the investor-protection risks that the twenty-first-century investment adviser industry produces. In fact, however, Dodd-Frank did not touch - and, indeed, Dodd-Frank's crafters indicated no awareness of - many of the Advisers Act's longstanding troubles. Additionally, the changes Dodd-Frank brought about have their own considerable deficiencies. As this Article contends, the U.S. investment adviser regulatory regime, now seventy-four years old, is in need of …

The Field In Ireland In 2014, Tom Dunne

Articles

Repossessions are an important part of recovery in the housing market

What Kahneman Means For Lawyers: Some Reflections On Thinking, Fast And Slow, Charles W. Murdock, Barry Sullivan

Loyola University Chicago Law Journal

No abstract provided.

The Dangers Of Missing The Forest: The Harm Caused By Verifone Holdings In A Tellabs World, Carol V. Gilden, Michael B. Eisenkraft, Josh Segal

Loyola University Chicago Law Journal

No abstract provided.

Punishing Bad Brokers: Self-Regulation And Finra Sanctions, Barbara Black

Faculty Articles and Other Publications

Regulation of the broker-dealer industry by a self-regulatory organization (SRO) is an integral part of the federal regulatory scheme under the Securities Exchange Act of 1934 (the Exchange Act). As a result, the Financial Industry Regulatory Authority (FINRA), the sole SRO for U.S. broker-dealers, plays an important role in protecting investors, especially retail investors, and bolstering investor confidence in the securities industry and capital markets. In 2012 FINRA brought 1,541 disciplinary actions against registered individuals and firms, levied fines totaling more than $68 million and ordered restitution of $34 million. It expelled 30 firms, barred 294 individuals and suspended another …

Curbing Broker-Dealers' Abusive Sales Practices: Does Professor Jensen's Integrity Framework Offer A Better Approach?, Barbara Black

Faculty Articles and Other Publications

Retail investors, particularly senior citizens, need competent and careful investment advice more than ever before. Many must rely on the services provided by investment advice providers, including broker-dealers. Regulators have sounded the alarm about sales of risky, complex products to retail customers in search of better returns, especially senior citizens and retirees. Both the SEC and FINRA have identified abusive broker-dealer sales practices as priorities in their examinations of broker-dealers and have brought numerous enforcement actions against broker-dealers for sales practices that harm retail investors. These enforcement actions frequently allege both failures of the firms’ due diligence processes to assure …

Foreword: Behavioral Econimis And Investor Protection, Michael J. Kaufman

Loyola University Chicago Law Journal

No abstract provided.

A Behavioral View Of Investor Protection, Thomas S. Ulen

Loyola University Chicago Law Journal

No abstract provided.

Conjoining "Recklessness" In Securities Fraud Cases To Moral Culpability, Jed S. Rakoff

Loyola University Chicago Law Journal

No abstract provided.

An Examination Of Foreign Corrupt Practices Act Issues, Mike Koehler

Richmond Journal of Global Law & Business

This article provides an overview of 2012 Foreign Corrupt Practice Act enforcement and examines the top FCPA issues from the year. The goal of the article is to place FCPA enforcement in better context and provide readers a more informed base in analyzing enforcement trends, assess- ing enforcement agency rhetoric and policy positions, and in sifting through the mounds of information disseminated by FCPA Inc.