Banking and Finance Law Commons^™

Transnational Fiduciary Law, Tamar Frankel

Faculty Scholarship

Fiduciary law is expanding throughout the world.¹ It seems to be a new phenomenon, but in reality, it is not. Fiduciary law is ancient. It existed centuries ago in Mesopotamia, ² Rome, ³ Egypt,⁴ Greece,⁵ as well as in Jewish ⁶ and Christian laws.⁷ Fiduciary duties arguably developed later in Great Britain when master landlords left for the holy land on religious crusades and had to rely on others to manage their estates.⁸ The ancient rules, such as those found in agency law in Mesopotamia, may not have been as sophisticated as the current ones-such …

Uk & Ksa Vats: A Cutting-Edge Proposal – Mini-Blockchain And Vatcoin, Richard Thompson Ainsworth, Musaad Alwohaibi, Mike Cheetham

Faculty Scholarship

This paper develops, extends, and clarifies themes introduced in five prior papers dealing with blockchain, and VATCoin in the context of both (a) the new VATs in the Gulf Cooperation Council (GCC), and (b) the mature VATs in the EU. Five additional papers on VAT technology advances in Fiji, with blockchain and VATCoin applications to New Zealand’s approach to online sales platforms (the Netlix Tax) are similarly referenced and extended. The GCC VAT papers were exploratory. For the most part, they were composed before any GCC jurisdiction had implemented a VAT, and in three instances even before the GCC Framework …

Financing Failure: Bankruptcy Lending, Credit Market Conditions, And The Financial Crisis, Frederick Tung

Faculty Scholarship

When contemplating Chapter 11, firms often need to seek financing for their continuing operations in bankruptcy. Because such financing would otherwise be hard to find, the Bankruptcy Code authorizes debtors to offer sweeteners to debtor-in-possession (DIP) lenders. These inducements can be effective in attracting financing, but because they are thought to come at the expense of other stakeholders, the Code permits these inducements only if no less generous a package would have been sufficient to obtain the loan.

Anecdotal evidence suggests that the use of certain controversial inducements — I focus on roll-ups and milestones — skyrocketed in recent years, …

Corporate Law And The Myth Of Efficient Market Control, William Wilson Bratton, Simone M. Sepe

Articles

In recent times, there has been an unprecedented shift in power from managers to shareholders, a shift that realizes the long-held theoretical aspiration of market control of the corporation. This Article subjects the market control paradigm to comprehensive economic examination and finds it wanting.

The market control paradigm relies on a narrow economic model that focuses on one problem only: management agency costs. With the rise of shareholder power, we need a wider lens that also takes in market prices, investor incentives, and information asymmetries. General equilibrium (GE) theory provides that lens. Several lessons follow from reference to this higher-order …

Finding Light In Arbitration's Dark Shadow, Nicole G. Iannarone

Nevada Law Journal Forum

This short essay in response to “Arbitration’s Dark Shadow” examines the light visible at the borders of mandatory arbitration’s shadow in one industry Professor Edwards highlights – securities disputes between an investor customer and a broker-dealer. Though Edwards is correct that mandatory arbitration is often a black box emmeshed in shadow, the few instances where light exists in the form of public data should be highlighted, examined, and studied. We should not close our eyes in the dark. Instead, we should adjust to lessened light and determine what we can learn from the information we can see.

Bank Resolution And Creditor Distribution: The Tension Shaping Global Banking – Part I: “External And Intra-Group Funding” And “Ex Ante Planning V. Ex Post Execution” Dimensions*, David Ramos, Javier Solana

University of Miami Business Law Review

Banking has drastically changed since the 2007-2009 financial crisis and its aftermath. Of all the reforms that impinge upon the ability of global banks to run their business, none is more consequential than the new frameworks on bank resolution, which try to end “too-big-to-fail.” Yet bank resolution’s “macro” goals, such as systemic stability, limitation of contagion, and avoidance of moral hazard, run in the face of insolvency law and the more “micro” principles underpinning it. Among the latter, none is more pervasive than the need for fairness between creditors, and between (and within) creditor classes, enshrined in the ranking and …

The Evolution Of Offshore: From Tax Havens To Ifcs, Andrew P. Morriss, Charlotte Ku

Faculty Scholarship

Over the past 70 years, many smaller jurisdictions have evolved intro international financial centres (IFCs). Although different in their historic origins and in the financial products and services they offer, IFCs share a common development path. Understanding that evolution can shed light on what the next decade is likely to bring.

Masthead, North Carolina Banking Institute

North Carolina Banking Institute

No abstract provided.

The Long Game: The Decade-Long Effort To Dismantle The Dodd-Frank Act, Eric J. Spitler

North Carolina Banking Institute

No abstract provided.

Introduction: Mini-Symposium On Comprehensive Data Privacy Reform Legislation In The United States, North Carolina Banking Institute

North Carolina Banking Institute

No abstract provided.

Affordable Housing: Plenty Of Demand, But No Supply To Be Found, Thomas E. Walls

North Carolina Banking Institute

No abstract provided.

The (Unfilled) Fintech Potential, Aluma Zernik

Notre Dame Journal on Emerging Technologies

Part I explores the idea that technology has the utopian potential to significantly improve the way individuals make financial decisions. Part II discusses some existing market failures, while presenting the potential of technological innovation in resolving such failures. Part III presents the realized potential of such innovative products, analyzing the design of credit card comparison websites, financial management tools, and mobile wallets. I will demonstrate the significant benefits of such products, and yet the limited realization of the potential advantages of such services. Part IV presents several explanations for why such potential is not being fully realized. These explanations may …

Cryptocommunity Currencies, J. S. Nelson

Cornell Law Review

What are cryptocurrencies: securities, commodities, or something else? Maybe they are a new form of established currency-a non-sovereign fiat currency. Like other self-governing bodies, the communities that issue cryptocurrencies should be judged on how well they support their currencies. This analysis is not meaningfully different from how we have evaluated traditional sovereign issuers of currency. Indeed, as traditional-sovereign-issued currency becomes entirely digital, functional distinctions between traditionally sovereign-backed flat currency and widely accepted non-sovereign fat currency start to disappear. The primary way then to distinguish the value of such currencies from each other becomes the quality of their institutional backing. Through …

Clo Risk Retention: A Case Study In Regulatory Indiscretion, Elliot Ganz, Phillip Black

North Carolina Banking Institute

No abstract provided.

Funding The Future: Marketplace Lending Equity Crowdfunding, And Bank Lending, Brage Humphries

North Carolina Banking Institute

No abstract provided.

Front Matter, North Carolina Banking Institute

North Carolina Banking Institute

No abstract provided.

Cannabis Reform: High On The Banking Agenda, Katherine P. Franck

North Carolina Banking Institute

No abstract provided.

Contents, North Carolina Banking Institute

North Carolina Banking Institute

No abstract provided.

Foreword, Devon R. Tucker, Lissa L. Broome

North Carolina Banking Institute

No abstract provided.

Blockchain: Post-Quantum Security & Legal Economics, Brian Seamus Haney

North Carolina Banking Institute

No abstract provided.

Cecl: The New Expected Credit Loss Standard A Big Loss For Small Banks, Richard E. Willi Iii

North Carolina Banking Institute

No abstract provided.

Biometrics And Banking: Assessing The Adequacy Of The Gramm-Leach-Bliley Act, Meredith E. Bock

North Carolina Banking Institute

No abstract provided.

Facebook's Libra: The Social Media Giant's Pursuit Of Global Financial Inclusion, Lizzie R. Hobbs

North Carolina Banking Institute

No abstract provided.

Municipal Bonds: In The Shadow Of An Underfunded Pension Crisis, Puerto Rico, And A Low Interest Rate Environment, John R. Fallon

North Carolina Banking Institute

No abstract provided.

Unwrapping The Banking Possibilities In Opportunity Zones, J. Kemper Patton

North Carolina Banking Institute

No abstract provided.

An Examination Of The Factors Influencing The Enactment Of Banking Legislation And Regulation: Evidence From Fifty Years Of Banking Laws And Twenty-Five Years Of Regulation, William C. Handorf, Reggie O'Shields, Andrew Richardson

North Carolina Banking Institute

No abstract provided.

United States Data Privacy Law: The Domino Effect After The Gdpr, Elizabeth L. Field

North Carolina Banking Institute

No abstract provided.

The Impact Of The California Consumer Privacy Act On Financial Institutions Across The Nation, Lauren Davis

North Carolina Banking Institute

No abstract provided.

Data Privacy And The Financial Services Industry: A Federal Approach To Consumer Protection, Fara Soubouti

North Carolina Banking Institute

No abstract provided.

Fiduciary Standards And Best Interests: Should States Take The Lead?, Chase Ponder

North Carolina Banking Institute

No abstract provided.