Banking and Finance Law Commons^™

Director Compliance With Elusive Fiduciary Duties In A Climate Of Corporate Governance Reform, Nadelle Grossman

Fordham Journal of Corporate & Financial Law

No abstract provided.

Confidential Informants In Private Litigation: Balancing Interests In Anonymity And Disclosure, Ethan D. Wohl

Fordham Journal of Corporate & Financial Law

No abstract provided.

Compensation Practices For Retail Sale Of Mutual Funds: The Need For Transparency And Disclosure, John Howat, Linda Reid

Fordham Journal of Corporate & Financial Law

No abstract provided.

Airline Liability For Loss, Damage, Or Delay Of Passenger Baggage, M. R. Franks

Fordham Journal of Corporate & Financial Law

No abstract provided.

Sec Settlement: Agency Self-Interest Or Public Interest, Danné L. Johnson

Fordham Journal of Corporate & Financial Law

No abstract provided.

Ethics: Inherent In Islamic Finance Through Shari'a Law; Resisted In American Business Despite Sarbanes-Oxley, Christine Walsh

Fordham Journal of Corporate & Financial Law

No abstract provided.

Protecting The New Face Of Entrepreneurship: Online Appropriate Dispute Resolution And International Consumer-To-Consumer Online Transactions, Ivonnely Colón-Fung

Fordham Journal of Corporate & Financial Law

No abstract provided.

Incomes, Taxes And The Constitution: Why The D.C. Circuit Court Of Appeals Got It Right In Murphy, Russell F. Romond

Fordham Journal of Corporate & Financial Law

No abstract provided.

U.C.C. Article 2 Warranties And Internet-Based Transactions: Do The Article 2 Warranties Sufficiently Protect Internet-Based Transactions With Unprofessional Internet Merchants?, Daniel K. Wiig

Fordham Journal of Corporate & Financial Law

No abstract provided.

Is There An Emerging Fiduciary Duty To Consider Human Rights?, Cynthia A. Williams, John M. Conley

Articles & Book Chapters

No abstract provided.

Sec Enforcement And Examinations Concerning Hedge Funds, Barry W. Rashkover, Laurin Blumenthal Kleiman

NYLS Law Review

No abstract provided.

A Social Defense Of Sarbanes-Oxley, James A. Fanto

Faculty Scholarship

No abstract provided.

Laws Against Bubbles: An Experimental-Asset-Market Approach To Analyzing Financial Regulation, Erik F. Gerding

Publications

This article analyzes the effectiveness of proposed and actual securities, financial, and tax laws designed to prevent, or dampen the severity of asset price bubbles, including laws designed to mitigate excessive speculation. The article employs experimental asset market research to measure the effectiveness of these anti-bubble laws in correcting mispricings. Experimental asset markets represent complex simulations of stock markets in which subjects trade securities over a computer network. These markets allow scholars to test causal links between legal policies and market effects in ways that empirical research alone cannot. With these virtual markets, researchers can identify asset price bubbles - …

City Government And Predatory Lending, Jonathan L. Entin, Shadya Y. Yazback

Faculty Publications

Predatory lending is heavily concentrated in low- and moderate-income neighborhoods and disproportionately affects minorities and the elderly. The consequences of predatory lending are devastating not only to the consumers who fall prey to unscrupulous lenders' tactics, but to the community as a whole. For these reasons, many cities have tried to regulate or prohibit the practice. These efforts face formidable legal obstacles, however. This article examines the problems that cities face in suing as parens patriae on behalf of their residents, the strong possibility that even home rule municipalities will find their efforts preempted by state law, and the growing …

Going Private At The Intersection Of The Market And The Law, Faith Stevelman

Articles & Chapters

Delaware's fiduciary doctrine governing going private transactions by controlling stockholders is presently in disarray. Controllers generally select between single step cash-out mergers and tender offers followed by short-form mergers to do these freezeouts, and they are subject to very different equitable standards depending on the format selected. Further disarray arises because the courts' longstanding commitment to strict scrutiny in freezeouts is in tension with the popular disfavor towards private class-action litigation. This disarray threatens minority investors' interests in freezeouts, and capital market values more broadly. First, the disparities in freezeout doctrine have encouraged controllers to arbitrage the legal standards for …

An Empirical Analysis Of Investment Treaty Awards, Susan Franck

Scholarly Articles in Law Reviews & Journals

I. INTRODUCTION

Earlier speakers offered insights about investment law and its implications for the future of domestic administrative law and international law. To bring us full circle, I will discuss where we are today so that we can consider where we want development law to be tomorrow. In pursuit of that goal, I offer empirical data related to investment treaty arbitration. My goal today is to focus on three claims about investment treaty arbitration and consider the data's potential implications.

Inter-American System, Claudia Martin

Scholarly Articles in Law Reviews & Journals

No abstract provided.

Training Law Students To Be International Transactional Lawyers - Using An Extended Simulation To Educate Law Students About Business Transactions, Daniel D. Bradlow, Jay Finkelstein

Scholarly Articles in Law Reviews & Journals

The article describes an innovative approach to educating law students about the legal issues and the role of lawyers in negotiating international business transactions. It is based on our experiences in developing and teaching a course that is built around a semester-long simulation exercise and taught in counterpart classes at two law schools. The students in these classes represent the opposing parties and negotiate a cross-border business transaction involving a joint venture agreement, a licensing agreement and a long-term supply contract. The students, who attend either the American University Washington College of Law or the Centre for Energy Mineral and …

Still Crazy After All These Years: The Absolute Assignment Of Rents In Mortgage Loan Transactions, Julia Patterson Forrester Rogers

Faculty Journal Articles and Book Chapters

This Article explores the problems caused by the absolute assignment of rents in mortgage loan transactions, which have continued for more than a century, and discusses possible solutions. Rents are a significant part of the security for loans secured by income-producing properties such as office buildings, shopping centers, and apartments. Under present law in many states, the absolute assignment of rents is the only means by which lenders can create an effective security interest in the rents of mortgaged property. An absolute assignment of rents purports to transfer title to rents to the mortgage lender, although in substance it creates …

Fannie Mae/Freddie Mac Uniform Mortgage Instruments: The Forgotten Benefit To Homeowners, Julia Patterson Forrester Rogers

Faculty Journal Articles and Book Chapters

In recent years economists and lawmakers have debated the public costs and benefits of the two housing government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. Some critics of the GSEs have even proposed making the GSEs fully private entities. Some parties involved in the debate have concluded that the costs of the GSEs outweigh their benefits, while others assert the converse. In terms of benefits, both sides consider the GS Es' contributions to lowering interest rates and encouraging affordable housing. Forgotten, however, is a difficult to quantify but important benefit that the GSEs create for homeowners -- the uniform mortgage …

Banking Law Reform And Users-Consumers In Developing Economies: Creating An Accessible And Equitable Consumer Base From The 'Excluded', Joseph J. Norton

Faculty Journal Articles and Book Chapters

Drawing on over two decades of relevant experience, the author sets forth the primary proposition that the equitable and accessible provision of banking services has never been a core component of modern banking sector legal reform in developing countries. Over the course of the article, the author evaluates the past fifteen years of banking law reform for developing countries and considers recent World Bank efforts to address financial access and equity issues. The article also includes a discussion of the rise of microfinancing and private banking industry initiatives in South Africa. The author concludes with reflections on the importance of …

Law, Social Justice, Economic Development, And Modern Banking Sector Legal Reform: Taking In The 'Excluded', Joseph J. Norton

Faculty Journal Articles and Book Chapters

This chapter examines a critical banking reform issue in developing countries – the equitable inclusion of individuals effectively excluded from mainstream banking/financial sectors of their respective countries. The author sets forth the proposition that the equitable and accessible provision of banking services has never been considered a core component to modern banking sector legal reform and assessment in the developing world. After more than two decades of study and practical involvement with financial sector reform in developing, transitioning and emerging economies, the author has the general view that the future banking/financial sector legal policy and infrastructure reform process for International …

Borrowing Trouble Vii: Higher-Cost Mortgage Lending In Boston, Greater Boston, And Massachusetts, 2005, Jim Campen

Gastón Institute Publications

Six years ago, in response to numerous reports of the growth of predatory lending, the Massachusetts Community & Banking Council (MCBC) – whose Board of Directors has an equal number of bank and community representatives – commissioned a study of subprime refinance lending in the city of Boston and surrounding communities. The resulting report, Borrowing Trouble? Subprime Mortgage Lending in Greater Boston, 1999, was the first detailed look at subprime lending in the city of Boston and in twenty-seven surrounding communities.

This is the seventh report in the annual series begun by that initial study. Over the years, the …

Sarbanes-Oxley's Effects On Small Firms: What Is The Evidence?, Ehud Kamar, Pinar Karaca-Mandic, Eric L. Talley

Faculty Scholarship

This article presents an overview of the regulatory regime created by the Sarbanes-Oxley Act of 2002 (SOX) and its implications for small firms. We review the available evidence in three distinct domains: compliance costs, stock price reactions, and firms' decisions to exit regulated securities markets.

Balancing Rights With Responsibilities: Looking For The Global Drivers Of Materiality In Corporate Social Responsibility & The Voluntary Initiatives That Develop And Support Them , Rachel Kyte

American University International Law Review

No abstract provided.

Private Finance, Social Responsibility, And Transitional Justice: The Case For South African Reconciliation And Development, Daniel D. Bradlow

Human Rights Brief

No abstract provided.

Western Unionizing The Hawala: The Privatization Of Hawalas And Lender Liability, Smriti S. Nakhasi

Northwestern Journal of International Law & Business

Hawala, an ancient banking system used predominantly in South Asia and the Middle East, has recently posed a regulatory quandary for law enforcement and capital markets.1 This comment addresses the pitfalls of a prominently proposed, well-intentioned solution to bring the hawala system into the modern banking structure and under the regulatory eye of law enforcement. As will be seen, the inherent nature of the hawala system and the lender risks associated with privatizing create enormous obstacles to realizing these privatization efforts. The problem with many proposed solutions is that they try to impose guidelines upon a system based on cultural, …

Hedge Fund Regulation: What The Fsa Is Doing Right And Why The Sec Should Follow The Fsa's Lead, Lartease Tiffith

Northwestern Journal of International Law & Business

Recent news about hedge funds' successes and failures, and in some cases outright fraud, has increased the public's interest in a field that often prefers to cloak itself in a hidden veil. One can analogize hedge fund managers and the hedge fund industry to the nostalgic era of cowboys and the wild frontier. Hedge fund managers, like cowboys of the old days, do not want to be regulated. Just as the cowboys entering the frontier appreciated the lack of law or authority over their actions, today's hedge fund managers appreciate the lack of law or authority over their actions. And …

Ec Reforms Of Corporate Governance And Capital Markets Law: Do They Tackle Insiders' Opportunism?, Luca Enriques, Matteo Gatti

Northwestern Journal of International Law & Business

Company and capital markets laws are rapidly evolving everywhere: there are few countries around the world where they have not been the subject of reform or where at least a reform agenda has not been devised. There are various reasons for this, both global and local. Among the global (or common) reasons for reform, two at least deserve to be singled out: large-scale market crises or prominent economic scandals, and financial development.

Asset-Backed Securitization In China, Yuwa Wei

Richmond Journal of Global Law & Business

No abstract provided.