National Security Law Commons^™

Louboutin Lawfare: Exploring Conceptions Of Sanctions' Utility Through Export Controls On Luxury Goods, Vinita R. Singh

Northwestern University Law Review

There is widespread consensus amongst scholars that sanctions—the deliberate withdrawal of customary trade and financial relations—do not work. Despite this perception, states are deploying sanctions at an increasing rate. This Article explains this paradox by arguing the predominant notion of sanctions’ utility employed by scholars is unduly constrained, narrowly focusing on the ability of such measures to modify the behavior of sanctioned parties while disregarding the alternative benefits this instrument can deliver. To support this argument, this Article uses export controls on luxury goods deployed in connection with the Russo–Ukraine War as a case study. Under prevailing perceptions of sanctions’ …

Through A Glass Darkly: How Securities Disclosures Give A Distorted View Of The Economy, Gerald F. Davis

Seattle University Law Review

Our understanding of the American economy often relies on stylized facts derived from mandatory disclosures by listed corporations. Data vendors like Standard & Poor’s vacuum up 10Ks and proxy statements into databases, and scholars distill these into tentative maps. This may have been adequate for a postwar economy centered on asset-heavy manufacturers, but it is increasingly out of step with an information-based economy. Companies listed on the stock market are fewer in number and less representative than they were, light in tangible assets and people, and heavy on IP. Basic facts such as what industry they are in are increasingly …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents

Corporate Scenarios: Drawing Lessons From History, Madison Condon

Seattle University Law Review

As corporations are increasingly pressed to reveal information about their exposure to climate-related risks, they are often asked to undertake and disclose the outcome of “scenario analysis.” In this exercise, corporations, including financial institutions, examine how their business would fare under different pathways the future may take. One oft-used scenario, for example, is the International Energy Agency’s “Net-Zero by 2050: A Roadmap for the Energy Sector.” This Essay presents a history of the use of scenarios as a corporate planning tool, particularly in the oil industry, arguing that it is key for understanding our present moment and the role of …

Shareholder Expression In A Time Of Heightened Political Tension, Aaron A. Dhir

Seattle University Law Review

In this article, I provide context for my forthcoming research project on shareholder proposals and racial equity audits. Since the murder of George Floyd in May of 2020, progressive shareholder actors have increasingly used the proposal mechanism to advance diversity, equity, inclusion, and justice-related goals. These proposals have frequently gone beyond requesting the usual corporate fare of diversity trainings, intersectionality workshops, affinity groups, etc. Instead, a more ambitious type of proposal asks corporate America to conduct racial equity audits, defined as “an independent, objective and holistic analysis of a company’s policies, practices, products, services and efforts to combat systemic racism …

Corporate Governance Speech, Sarah C. Haan

Seattle University Law Review

The State has always regulated the intra-firm communications that make corporate governance possible, most commonly by mandating disclosures of information by a corporation to its shareholders. Some such laws are labeled “securities regulation,” but securities regulation is a broad category that extends to speech by actors who are outside the corporate enterprise as well. Also, the conventional securities regulation category does not capture all such laws; other examples, including informationforcing mandates, can be found in state corporate law. This Article uses the term “corporate governance speech” to describe the communications among shareholders, directors, and officers through which corporate governance is …

Dark Accounting Matter, Colleen Honigsberg

Seattle University Law Review

Physicists calculate that approximately 85% of the matter in the universe is composed of “dark matter” that “does not absorb, reflect, or emit electromagnetic radiation and is therefore difficult to detect.” The S&P 500 currently trades at a price-to-book value of 4.2, suggesting that book value accounts for less than 20% of the S&P 500’s market value. The remaining 80% appears nowhere in these firms’ balance sheets—it is invisible to contemporary accounting techniques and constitutes “dark accounting matter.”

Some “dark accounting matter” is composed of factors commonly described as components of “ESG.” Human capital, for example, is an intangible asset …

The Employees’ Dilemma: Balancing Internal Reporting, Whistleblowing, And Insider Trading Risks, Geeyoung Min

Seattle University Law Review

The Essay examines how recent developments in insider trading regulations and whistleblower reward programs can lead to unintended and counterproductive results of discouraging employees from using internal reporting channels within corporate compliance programs. While the presence of a robust and well-functioning corporate compliance program is a critical factor both in mitigating the level of public enforcement actions against companies and in protecting corporate managers from liability in private litigation, these programs often provide little incentive for employees to report potential misconduct internally.

Corporate compliance programs are designed to promote the upward information flow within the company, which is essential for …

How The Antidiscrimination Law Of Commercial Transactions Really Works, Helen Norton

Seattle University Law Review

A variety of businesses now cite 303 Creative when seeking First Amendment protection for their refusal to serve certain customers based on those customers’ protected class status. How this litigation will play out remains to be seen. But future courts need not, and should not, repeat the 303 Creative Court’s misunderstanding of how the antidiscrimination law of commercial transactions actually works.

Part I of this Essay explains the Court’s longstanding understanding of the antidiscrimination law of commercial transactions, and then describes the Court’s failure to engage with this precedent in 303 Creative. Part II then identifies the 303 Creative decision’s …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Voting Matters: Materiality Considerations And The Shareholder Vote, Renee M. Jones

Seattle University Law Review

For the shareholder franchise to have meaning, shareholders must have access to relevant information to inform their voting decisions. The securities laws’ disclosure requirements play an essential role in informing the shareholder vote.

This Essay focuses on the question of the materiality of information in the context of shareholder voting. It addresses the question of whether ESG-related information is material, positioning the materiality inquiry within the context of shareholders’ voting decisions. It explores the definition of materiality with a focus on the “reasonable investor” concept embedded within the definition. The Essay argues that the implicit expectations of many commentators that …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Understanding The Big Three’S Wavering Support Of Environmental And Social Shareholder Proposals, Jeff Schwartz, Jefferson Jensen

Seattle University Law Review

Because of their substantial equity portfolios, BlackRock, Vanguard, and State Street (the Big 3) are central players in corporate governance. It is, therefore, critical to understand how they vote. One puzzle is that their support for shareholder proposals on environmental and social matters appears to waiver. In 2020, for instance, BlackRock supported 11.1% of environmental proposals at S&P 500 firms. In 2021, it seemingly reversed course, supporting 55.2%. It then flipped again, supporting 32.1% in 2022. Such statistics suggest that the Big 3 are constantly changing their views on these topics. This Article seeks to better understand whether this is …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Green Dividends: A Case Study In Green Dividends And The Conditions For Private Ordering Solutions, Anne M. Tucker

Seattle University Law Review

This Essay introduces a novel private ordering solution to facilitate corporate investments in pro-social and environmental initiatives: Green dividends. Green dividends are an optional increase in shareholder dividends that are returned to the company to be reinvested in environmental initiatives or kept by a shareholder.

Green dividends pose an alternative to the current gridlocked debate that corporations can’t, won’t, shouldn’t, and shouldn’t even try to act in pro-social or environmental ways. Turning the common refrains on their head converts each narrative into an element for a successful private ordering solution: authority, accountability, shareholder buy-in, and government- backed enforcement. With Green …

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 …

The Best Disinfectant: The Value Of Transparency In Information Operations, Major Ian W. Stamme

American University National Security Law Brief

America is in a state of persistent competition with nation-state adversaries, including Russia and China, which seek to subvert the post-WWII rules-based international order and undermine American legitimacy abroad. Some of this competition takes place through traditional statecraft and across each of the instruments of national power: diplomatic, informational, military, and economic. However, much of this competition also takes place in the gray zone, defined as a spectrum between the higher threshold of armed conflict and the lower threshold of ordinary statecraft. In other words, while all relations between nations involve degrees of leverage and relative advantage, gray zone conflict …

Public International Air Lawfare: China’S Use And Abuse Of The Skies., Major Emily K. Johnson

American University National Security Law Brief

Following World War II, China entered a years-long period of civil war between the Kuomintang government, which was then in power as the government of the Republic of China, and the Chinese Communist Party. After years of conflict, the Kuomintang was forced to retreat to the island of Taiwan in 1949, effectively and reluctantly ceding the Chinese mainland to the Chinese Communist Party. Despite its best efforts, the Kuomintang never regained control of mainland China in the ensuing years; however, it never dissolved and instead remained in place on Taiwan.

As a result, Taiwan, which lies a mere 80-100 miles …

War Courts: Fdr, National Security, And The War On Terrorism, Harvey Gee

Dickinson Law Review (2017-Present)

No abstract provided.

Rightly Dividing Jus Ad Bellum And Jus In Bello In The Israel/Hamas War, Jeffrey F. Addicott

Faculty Articles

The purpose of this paper is to: (1) review the applicable rule of law as it relates to both the initiation of warfare and the use of armed force in the execution of that warfare; and (2) apply those legal standards to the facts associated with the Israel/Hamas conflict. While this may seem an easy task – to set out unanimity in the international community – it is not. The inability to set bright lines of distinction between aggressors and those acting in self-defense is not just a failure in definition or even understanding, it is a failure to legitimize …

The Military's Constitutional Role, Brenner M. Fissell

Faculty Publications

A basic principle of the American constitutional order is that civilian authority must be supreme over that of the military. The violation of this principle by the British was one of the grievances enumerated in the Declaration of Independence, and the Framers responded with a Constitution that made military rule impossible. But why is so-called “civilian control” of the military so important? This deep normative question has yet to be thoroughly answered by scholars, most of who assume it away as a given. This Article takes up that task, using contemporary political theory to defend the principle of civilian control. …

The Ethics Of Military Influence On Politics, Brenner M. Fissell

Faculty Publications

Military rule is common across the world, but this form of government is incompatible with the rule of law for various reasons. To prevent this, Western democracies such as the United States impose a strong norm of civilian supremacy over military officials. The most important role of this norm of “civilian control” in America today is to police the interventions of senior military officers’ influence in politics. While the standard position is that the military should be “apolitical,” this limitation does little work in helping senior officers understand permissible conduct, as nearly every issue confronting them will implicate matters of …

Preventing Chemical And Biological Attacks: Enhanced Threats Requiring Enhanced Solutions, Alex Elliot Ottoni-Belval

Graduate Theses/Dissertations

Chemical weapons (CW) and biological weapons (BW) are becoming more dangerous for experts to employ and more accessible to amateurs. Despite CW and BW attacks throughout history that killed and maimed millions of people, the international community has failed to establish meaningful consequences to prevent them. Agreements such as the Chemical Weapons Convention and the Biological Weapons Convention vow to eliminate and reduce the effects of CWs and BWs but lack respected response precedents and capabilities. The limited and inconsistent enforcement has inadvertently allowed CWs and BWs to become plausible weapons, especially to gain asymmetric advantages, while modern developments exasperate …

Protection Of Nuclear Facilities In Warfare Under International Law, Gary Corn, Sean Watts

Joint PIJIP/TLS Research Paper Series

No abstract provided.

Aid Or Abuse? A Review Of U.S. Police Assistance Programs In Latin America During The Early Cold War, Brianna Mcnally

War, Diplomacy, and Society (MA) Theses

During the Cold War, the United States used police assistance programs in under-developed countries to stop the spread of communism. Police aid aimed to improve a country’s economic stability and internal security to curb the rise of communist revolutions. The U.S. government charged the Office of Public Safety (OPS) within the U.S. Agency for International Development (USAID) with managing police assistance programs around the world, including in Asia, Africa, and Latin America.

Despite its seemingly good intentions, the OPS became a short-lived program now known today for its ties to human rights abuses, especially throughout Latin America. Several Latin American …

A Delicate Balance: The Japan-Us Status Of Forces Agreement Applying A Comparative Framework To Recommend Changes To Criminal Jurisdiction Provisions In The Japan-Us Status Of Forces Agreement To Better Protect The Interests Of Japan And The United States, Keara Schmeiser

Brooklyn Journal of International Law

The criminal jurisdiction provisions of the Japan-U.S. Status of Forces Agreement (“SOFA”), which governs the rights of US servicemembers deployed in Japan, must be amended. The recent Japanese criminal conviction of a U.S. naval officer focused U.S. lawmakers’ efforts on revising the Japan-U.S. SOFA. This led to a provision in the 2024 National Defense Authorization Act (“NDAA”), which requires the U.S. Secretary of Defense and Secretary of State to analyze the largest existing U.S. bilateral agreements and their treatment of U.S. servicemembers’ rights in foreign courts and, by the end of 2024, report their findings to congressional committees. This Note …

Korea: The Enduring Policy Blindspot, Justin Malzac, Rene A. Mahomed

The US Army War College Quarterly: Parameters

The threat posed by the Democratic People’s Republic of Korea is a neglected and under prioritized problem across the US government, requiring a dramatic change of approach. Most proposals for Goldwater-Nichols reform focus on geography, either increasing or decreasing the number of geographic commands. Based on our personal experience as Joint military planners at strategic-level headquarters, we argue that the change needs to go further, focusing on global national security problems instead of geography. This article’s analysis and conclusions will provoke conversation across the national security enterprise about how the United States competes with multiple global threats.

The American Way Of Studying War: What Is It Good For?, Michael P. Ferguson

The US Army War College Quarterly: Parameters

Academic military historians, government institutions, and defense practitioners have unique purposes for advancing the study of war that influence the way they consume and produce history. Although there is substantial scholarship covering how the discipline of military history has changed since the late nineteenth century, the literature surrounding why it changes and how it is used is less plentiful. Using primary and secondary sources to contextualize debates between historians, this study traces major developments in military historiography, considers the US Army’s relationship with its history, and explores potential connections between a history’s purpose and its use for military professionals.

Parameters Winter 2024-25, Usawc Press

The US Army War College Quarterly: Parameters

Welcome to the Winter 2024–25 issue of Parameters. This issue consists of an In Focus special commentary, three forums (Indo-Pacific, Security Cooperation, and Historical Studies), and the regular Civil-Military Relations Corner installment.

Book Reviews, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.