Securities Law Commons^™

The Ethics Of Insider Trading, Gary S. Lawson

Faculty Scholarship

The quickest way to become famous is often to become infamous, as arbitrageur Ivan Boesky has recently discovered. Prior to November 1986, Mr. Boesky was well-known within the financial community, but largely unknown outside it. That changed dramatically following revelations that he and Dennis Levine, a merger specialist with the investment banking firm of Drexel Burnham Lambert, Inc., had made tens of millions of dollars in the stock market by using Mr. Levine's advance knowledge of impending takeovers by Drexel clients. Today, after disgorging $50 million in profits, paying $50 million in penalties, and receiving a jail sentence, Mr. Boesky …

Capital Neutrality And Coordinated Supervision: Lessons For International Securities Regulation From The Law Of International Taxation And Banking, Charles Thelen Plambeck

Michigan Journal of International Law

Part I of this article provides some background on the legal forces which have influenced globalization and internationalization of the world's securities markets. Part II focuses on the international tax law principle of capital neutrality. Fundamentally, the principle of capital neutrality requires that regulations should not unintentionally direct the movement of capital. Part II analyzes the bases and parameters of the principle of capital neutrality, the experiences of international taxation in applying the principle to a globalizing economy, and the possibilities for applying the principle to international securities regulation. Part III focuses on the international banking law principle of coordinated …

Swiss Bank Secrecy And United States Efforts To Obtain Information From Swiss Banks, Elliot A. Stultz

Vanderbilt Journal of Transnational Law

The United States has utilized numerous techniques to penetrate bank secrecy, with varying degrees of success. The United States and Switzerland have signed several agreements relating to bank secrecy and its role in United States criminal investigations. These efforts have allowed United States authorities to obtain normally privileged information in numerous investigations over the past ten years, although some confusion as to what information is available still exists today.

Two recent events have expanded the scope of information available to United States investigators and alleviated some of the confusion. In November 1987 the United States and Switzerland exchanged a Memorandum …

Drafting An Effective Greenmail Prohibition, Ronald J. Gilson

Faculty Scholarship

Hostile tender offers have become a recurrent political issue. In recent years Congress has held seemingly endless hearings on the subject, and by now the testimony has settled into a familiar dialogue. Potential acquirers cast themselves as the embodiment of Adam Smith's invisible hand – their activities energize the market for corporate control with the desirable result of improving the efficiency of corporate management. Management of potential targets, in turn, claim the role of Albert Chandler's visible hand – efficient managers who internalize a function previously carried out by an inefficient market. Their argument is that because the market for …

Regulation Of Manipulation Under Section 10(B): Security Prices And The Text Of The Securities Exchange Act Of 1934, Steve Thel

Faculty Scholarship

No abstract provided.

"All Cretans Are Liars": The Fight Against Corporate Crime, John Flood

Articles by Maurer Faculty

No abstract provided.

The Concept Of Transaction As A Restraint On Resale Limitations, J. William Hicks

Articles by Maurer Faculty

No abstract provided.

Cts Corp. V. Dynamics Corp. Of America: Of State Regulation, Tender Offers, And Necromancy, Brian S. West

Kentucky Law Journal

No abstract provided.

Securities Law Fifth Circuit Symposium, Steve Thel

Faculty Scholarship

The Fifth Circuit decided some important securities cases during the survey period and issued some interesting opinions. Although the court consistently claimed a conservative reliance on precedent and seldom acknowledged making new law, it interpreted some well-established doctrine in surprising ways. The past year's opinions in fraud cases provide guidance in the related areas of reliance, damages, and plaintiff's due diligence. The year also witnessed important developments in the law governing the relationship between brokerage firms and their clients. The most spectacular development in this area during the survey year was the October collapse in security prices. In light of …