Banking and Finance Law Commons^™

The Duty To Manage Risk, A. Christine Hurt

Faculty Scholarship

No abstract provided.

4th And 205: How A Rush Of Global Comments Blocked The Sec’S First Attempted Punt Of Attorney-Client Privilege Under Sarbanes-Oxley, John Paul Lucci

Touro Law Review

No abstract provided.

International Trade In Services From The Japanese Viewpoint, Masato Dogauchi

Georgia Journal of International & Comparative Law

No abstract provided.

Perspective Of The Private Sector--Banking, F. William Hawley

Georgia Journal of International & Comparative Law

No abstract provided.

The Development Of A Global Market-Based Debt Strategy To Regulate Private Lending To Developing Countries, Bradley K. Boyd

Georgia Journal of International & Comparative Law

No abstract provided.

Foreign Investments And The Market For Law, Susan Franck

Scholarly Articles in Law Reviews & Journals

In this Article, Professors O'Hara O'Connor and Franck adapt and extend Larry Ribstein's positive framework for analyzing the role of jurisdictional competition in the law market. Specifically, the authors provide an institutional framework focused on interest group representation that can be used to balance the tensions underlying foreign investment law, including the desire to compete to attract investments and countervailing preferences to retain domestic policy-making discretion. The framework has implications for the respective roles of BITs and investment contracts as well as the inclusion and interpretation of various foreign investment provisions.

The Risk Of Money Laundering Through Crowdfunding: A Funding Portal's Guide To Compliance And Crime Fighting, Zachary Robock

Michigan Business & Entrepreneurial Law Review

With the recent passage of the Jumpstart Our Business Startups Act (“JOBS Act”) and proposed regulations, equity crowdfunding is poised to play an important role in fundraising for many types of emerging growth companies. A fundamental purpose of crowdfunding is to reduce economic barriers to capital markets for emerging growth companies, in part by relaxing rigorous information disclosure requirements currently mandated by the Securities and Exchange Commission (“SEC”). Relaxed regulation should help reduce the cost of fundraising, but it will also present certain risks. Investor fraud is a common concern, which is addressed at length in the JOBS Act and …

Coming Up Short: The United States' Second-Best Strategies For Corralling Purely Speculative Derivatives, Timothy E. Lynch

Cardozo Law Review

Purely speculative derivatives (PSDs) are derivatives in which neither counterparty is engaged in hedging. Unless they are used for entertainment purposes, PSDs are irrational, less-than-zero-sum transactions. Entities that engage in PSDs jeopardize their stakeholders and increase systemic risk. PSDs can also increase moral hazard, can be used for regulatory arbitrage, and can redirect resources away from the efficient allocation of market capital. PSDs should be unenforceable contracts, void for public policy reasons, except where they are expressly permitted to provide gambling entertainment, enhance price discovery, or increase liquidity for hedgers.

In the United States, however, PSDs are often legal and …

Surveillant And Counselor: A Reorientation In Compliance For Broker-Dealers, James A. Fanto

BYU Law Review

This Article argues that the compliance officer should play a major role in the ongoing reform of broker-dealers and other financial firms. This role is facilitated by the fact that compliance is now well established and accepted and compliance officers are close to decision making at all levels of a firm. The contention is that the role of compliance must be rethought and reoriented if it is to contribute fully to the reform. Compliance officers now ensure that the firms and their employees comply with the numerous laws and regulations governing them and their activities, primarily by producing and then …

“Single Point Of Entry”: The Promise And Limits Of The Latest Cure For Bailouts, John Crawford

NULR Online

No abstract provided.

The Shrews That Tame Wall Street?, Mehrsa Baradaran

Popular Media

Although plenty of men are whistleblowers and financial reformers, too, the ones making the most noise are women. Women are significantly underrepresented in Wall Street firms as well as in Congress and the regulatory agencies.

Unfair And Inactionable: The Case For A Private Cause Of Action For Business And Investment Activity Under Pennsylvania's Unfair Trade Practices And Consumer Protection Law, Mark T. Wilhelm

Villanova Law Review (1956 - )

No abstract provided.

Aml In The Spotlight: Compliance Risks For Broker-Dealers And Investment Advisers, John H. Walsh, Cecilia Baute Mavico

The Journal of Business, Entrepreneurship & the Law

In light of regulators' renewed attention, this article discusses recent events, reviews AML enforcement actions against securities firms, and identifies the compliance risks they suggest. The article concludes that the time has come for broker-dealers and advisers alike to take a holistic view of compliance and their AML risks, and to prepare for enhanced oversight and regulation.

Summary Of State, Dept. Of Bus. And Industry V. Check City P’Ship, 130 Nev. Adv. Op. 90, Daven Cameron

Nevada Supreme Court Summaries

The Court interpreted NRS 605A.425 and concluded that the statute unambiguously provides that a borrower’s deferred deposit loan is to be capped at 25 percent of the borrower’s expected gross monthly income. This cap includes both principal and any interest or fees charged.

All Together Now: International Regulatory Response To The Libor Rate Setting Conspiracy, Melissa Anne Conrad-Alam

Georgia Journal of International & Comparative Law

No abstract provided.

Market Power Without Market Definition, Daniel A. Crane

Notre Dame Law Review

Antitrust law has traditionally required proof of market power in most cases and has analyzed market power through a market definition/market share lens. In recent years, this indirect or structural approach to proving market power has come under attack as misguided in practice and intellectually incoherent. If market definition collapses in the courts and antitrust agencies, as it seems poised to do, this will rupture antitrust analysis and create urgent pressures for an alternative approach to proving market power through direct evidence. None of the leading theoretic approaches—such as the Lerner Index or a search for supracompetitive profits—provides a robust …

The Governance Structure Of Shadow Banking: Rethinking Assumptions About Limited Liability, Steven L. Schwarcz

Notre Dame Law Review

In an earlier article, I argued that shadow banking—the provision of financial services and products outside of the traditional banking system, and thus without the need for bank intermediation between capital markets and the users of funds—is so radically transforming finance that regulatory scholars need to rethink their basic assumptions. This Article attempts to rethink the corporate governance assumption that owners of firms should always have their liability limited to the capital they have invested. In the relatively small and decentralized firms that dominate shadow banking, equity investors tend to be active managers. Limited liability gives these investor-managers strong incentives …

Destructive Federal Preemption Of State Wealth Transfer Law In Beneficiary Designation Cases: Hillman Doubles Down On Egelhoff, John H. Langbein

Vanderbilt Law Review

The probate codes in about a third of the states contain a so-called divorce revocation provision, applicable both to probate and nonprobate transfers. Such statutes address the situation in which a transferor's will or will substitute designates as a beneficiary a person who was the transferor's spouse at the time that the transferor executed the document, but whom the transferor later divorced. The premise of these statutes is that divorce entails a profound change of circumstances not foreseen by the transferor, and that the transferor is unlikely to have intended to benefit an ex-spouse. Accordingly, the intent- implementing purpose of …

Symposium: The Role Of Federal Law In Private Wealth Transfer, Jeffrey Schoenblum

Vanderbilt Law School Faculty Publications

Increasingly, federal law impacts court decisions involving private wealth transfer. Increasingly, federal law is the central consideration in premortem and postmortem planning for private wealth transfer. Despite this, until recently, little scholarly attention has been paid to this phenomenon; the assumption regarding the centrality of state law, quoted above, having gone largely unquestioned. But now that the "sleeping giant" has awakened, the role that federal law plays in private wealth transfer requires serious and comprehensive academic consideration.

Response: Who Should Be Providing Mortgage Credit To American Households?, David Reiss

Cornell Law Faculty Publications

Who should be providing mortgage credit to American households? Given that the residential mortgage market is a ten-trillion-dollar one, the answer we come up with had better be right, or we may suffer another brutal financial crisis sooner than we would like. Indeed, the stakes are as high as they were in the Great Depression when the foundation of our current system was first laid down. Unfortunately, the housing finance experts of the 1930s seemed to have a greater clarity of purpose when designing their housing finance system. Part of the problem today is that debates over the housing finance …