Banking and Finance Law Commons^™

Regulation Best Interest: Is The Sec Finally Choosing Main Street Over Wall Street?, Ana Marcos

University of Miami Business Law Review

No abstract provided.

Ftc Enforcement Authority In The Modern Era: A Commission In Crisis?, Brandon Mantilla

University of Miami Business Law Review

This note provides a brief history of the Federal Trade Commission (FTC)’s enforcement authority before analyzing the U.S. Court of Appeals for the seventh Circuit’s circuit-splitting decision in FTC v. Credit Bureau Center, LLC. As the Supreme Court prepares to tackle questions surrounding authority to seek monetary relief, I contextualize how enforcement authority has historically been derived before analyzing how the issue may be resolved. Doing so involves engaging several cases that may prove consequential in determining the outcome and outlines potential legislative solutions to the battle over restitution. Before arriving at the most likely scenarios, a view of the …

Proving Economic Loss For In-And-Out Traders In Light Of First Solar, Daniel Roy Settana Iii

University of Miami Business Law Review

Federal courts have grappled with the issue of whether or not to include in-and-out traders in federal securities class action lawsuits. One set of courts has excluded in-and-out traders on the grounds that they could not prove loss causation, while another set of courts has included in-and-out traders because of the possibility that they could prove that they had suffered a loss. In Mineworker’s Pension Scheme versus First Solar, Inc., the Ninth Circuit recently addressed what should be the correct standard for loss causation. While the Ninth Circuit’s decision resolved its own intra-circuit split, the Court’s decision widened an already …

The Occ Fintech Charter And The Bank Holding Company Act, Lauren Bomberger

University of Miami Business Law Review

The definition of a bank under the Bank Holding Company Act of 1956 (“BHCA”) has changed several times since the statute was first enacted. Congress has identified a number of underlying rationales for applying the BHCA to certain entities thus necessitating a change in the definition. Recent innovations in technology, however, have made it challenging to adapt the U.S. financial regulatory regime to these advances, particularly for the financial technology (“FinTech”) industry. The Office of the Comptroller of the Currency’s (“OCC”) FinTech charter is one example of an attempt by a U.S. financial regulator to grapple with emerging technologies in …

Good Corporate Governance Policies And Disclosure Mechanisms In Startup Companies, Yahel Kaplan

University of Miami Business Law Review

In the past decades, particularly following the collapse of huge corporation such as WorldCom and Enron due to dubious or illegal financial management, countries began gradually increasing the oversight of publicly traded companies with few jurisdictions conjuring recommended corporate governance codes (RCGC) to ensure sufficient oversight, reduce manager’s ability to loot their companies, and ensure that shareholders’ and stakeholders’ interests are monitored effectively by companies. While RCGC was intended namely for public company, several organizations called for the adoption of RCGC in startup companies. Startup companies suffer from various failures which the classic corporate laws are not equipped to address …

Cost Structures In American Commercial Banks Under $10 Billion: Trend Analysis With Policy Considerations, Thomas Stucker

University Honors Program

Cost structures in the banking have historically been a point of study for economists, but many existing economies of scale studies use highly restricted samples. I compiled quarterly data from 2002-2020 from the Federal Financial Institutions Examination Council’s Uniform Bank Performance Report to estimate the relationship between bank size (measured by total assets) and bank overhead (noninterest) expense for US banks under $10 billion in total assets. I included a continuous time trend as well as binary time variables for the 2008 recession period and the post-Dodd-Frank era in a multiple linear regression model. My estimation found statistically significant evidence …

Hostile Restructurings, Diane L. Dick

Washington Law Review

The conventional wisdom holds that out-of-court loan restructurings are mostly consensual and collaborative. But this is no longer accurate. Highly aggressive, nonconsensual restructuring transactions—what I call “hostile restructurings”—are becoming a common feature of the capital markets. Relying on hypertechnical interpretations of loan agreements, one increasingly popular hostile restructuring method involves issuing new debt that enjoys higher priority than the existing debt; another involves transferring the most valuable collateral away from existing lenders to secure new borrowing.

These transactions are distinguishable from normal out-of-court restructurings by their use of coercive tactics to overcome not only the traditional minority lender holdout problem, …

Structural Barriers To Inclusion In Arbitrator Pools, Nicole G. Iannarone

Washington Law Review

Critics increasingly challenge mandatory arbitration because the pools from which decisionmakers are selected are neither diverse nor inclusive. Evaluating diversity and inclusion in arbitrator pools is difficult due to the black box nature of mandatory arbitration. This Article evaluates inclusion in arbitrator pools through a case study on securities arbitration. The Article relies upon the relatively greater transparency of the Financial Industry Regulatory Authority (FINRA) forum. It begins by describing the unique role that small claims securities arbitration plays in maintaining investor trust and confidence in the securities markets before describing why ensuring that the FINRA arbitrator pool is both …

Qui Tam And The Bank Secrecy Act: A Public-Private Enforcement Model To Improve Anti-Money Laundering Efforts, Giovanni Scarcella

Fordham Law Review

Cartels, terrorists, fraudsters, and other criminals face a problem: when they receive the proceeds from their illicit activities, how can they get this money into their bank accounts without raising regulatory eyebrows? The Bank Secrecy Act (BSA) has established a complex regulatory regime, imposing on banks the duty to assess the risks presented by their clients, to monitor the transactions they process, and to report transactions that contain indicia of money laundering and other criminal activity to the Financial Crimes Enforcement Network (FinCEN). In response, criminals utilize increasingly sophisticated means to obfuscate the origins of these transactions and disguise their …

Die Finanzierung Der Nachhaltigkeitsziele: Welche Rolle Spielen Handels- Und Investitionsabkommen?, Stefanie Schacherer

Research Collection Yong Pung How School Of Law

The relationship between foreign direct investment (FDI) and sustainable development is controversial. Studies on the concrete benefits of FDI for sustainable development have not yielded clear results. Nevertheless, sustainable development is central to the ongoing reform process of international investment law. Ideally, international investment agreements (IIAs) should promote the Sustainable Development Goals (SDGs). In any case, IIAs should not undermine national implementation of the SDGs. The following analysis and conceptualization of current developments and legal standards for international investment law will be presented.

Personal Insolvency In China: Necessities, Difficulties, And Possibilities, Rebecca Parry, Haizheng Zhang, Jiahui Fu

Brooklyn Journal of International Law

There has long been demand for personal insolvency laws in China, yet such laws have hitherto been unavailable, in part due to ideological resistance. In more recent years there has been an increase in borrowing by individuals, which has led to increased calls for honest but unfortunate debtors to be able to obtain a fresh start. Yet there is significant public mistrust of defaulting debtors and in particular there is a shadow cast by those termed the Lao Lai that has led many to question the desirability of such a reform. There has also been a need for change in …

Avoiding Wasteful Competition: Why Trading On Inside Information Should Be Illegal, Michael D. Guttentag

Brooklyn Law Review

This article offers a new and compelling reason to make all trading based on inside information illegal. The value realized by trading on inside information is unusual in two respects. First, inside information is produced at little or no incremental cost and is nevertheless quite valuable. Second, profits made from trading on inside information come largely at the expense of others. When the value of something exceeds the cost to produce it, a wasteful race to be the first to capture the resulting surplus is likely to ensue. Similarly, resources expended solely to take something of value from others are …

Karmel’S Dissent: The Sec’S Use And Occasional Misuse Of Section 21(A) Reports Of Investigation, James J. Park

Brooklyn Journal of Corporate, Financial & Commercial Law

Section 21(a) of the Securities Exchange Act gives the SEC the option of publishing a report of its findings after conducting an investigation. Typically, the SEC issues such reports about once a year to highlight major compliance and enforcement issues. This Article examines the SEC’s use of Section 21(a) investigative reports with special attention to its 1979 report in Spartek, where Commissioner Roberta Karmel filed a famous dissent. In that opinion, she argued that the report effectively sanctioned conduct over which the SEC did not have jurisdiction and that Spartek did not have sufficient notice of its regulatory obligations. While …

Modernizing Mortgage Law, Christopher K. Odinet

Faculty Scholarship

Modern mortgage law is designed for a world that no longer exists. The residential mortgage transaction of today looks nothing like it did during the formative period when the property laws governing mortgages were developed. What was once a local dealing between two individuals and largely for commercial or quasi-commercial purposes has now become a housing- centric financial transaction-turned-asset between multiple distant and often invisible parties that operate as part ofa national market. Yet, although the mortgage transaction has changed, mortgage law has not. Property law rules that once balanced the rights of mortgagors and mortgagees now completely fail to …

China Meets Digital Currency: E-Cny And Its Implications For Businesses, Heng Wang

Research Collection Yong Pung How School Of Law

China is likely to be the first major economy to issue central bank digital currency (CBDC). China’s CBDC, e-CNY, may lead to a new ecosystem that would profoundly affect business, product offerings and business practice. E-CNY is likely to affect both local and international businesses, particularly those with a presence in China or those who commonly transact with Chinese actors. There is also the possibility of e-CNY use outside of China. If China’s CBDC practice and standards affect international practice (such as through standard making), e-CNY has the potential to affect the broader businesses community. This article discusses the following …

Making Money From Cryptocurrency? The Taxman May Call On You, Hern Kuan Liu, Vincent Ooi

Research Collection Yong Pung How School Of Law

Miners, forgers, hobbyists, traders – different rules apply. Just don’t assume crypto investment is somehow immune to taxation.

The Multimodal Electronic Transferable Transport Record (Ettr) : A Survey Of Laws And Basic Concepts, Benjamin Geva

Articles & Book Chapters

A transport document is a receipt issued by the carrier of goods upon taking possession of them under a contract for their carriage. It is a document of title when its transfer may facilitate not only the transfer of the right to claim the goods from the carrier but also the transfer of title to the goods. Particularly in relation to the carriage of goods other than by sea, and by reference to banking and commercial practices, this study surveys the current legal position of both digitization and negotiability of transport documents. This is done with a view to preparing …

Linguistic Branching Of Semantics In Arabic: A Social Approach, Hanan Ismael Amayreh, Mohammad Ismael Amayreh

Al-Balqa Journal for Research and Studies البلقاء للبحوث والدراسات

Linguist Branching is appropriate for Arabic Language as words branch out mostly from roots, and every root becomes a tree, which is different from others, not because of the tree itself, but because of what society uses. Language branching expresses the controversial relationship between the language and the rules that govern it from one side, and society’s preference of certain terms over others from the other side. This study tries to answer the following questions: does the language impose the used words, or does it offer options for society to choose what suits it? The study reaches a conclusion that …

The Reality Of Applying Governance Within The Criteria Of Quality Assurance At Schools Of Sport Science At Jordanian Universities, Sari Ahmad Hamdan, Fatima Marof Al-Khrisat

Al-Balqa Journal for Research and Studies البلقاء للبحوث والدراسات

This study examines the reality of applying governance within The Criteria of Quality Assurance at schools of Sport Science at Jordanian Universities from their members perspective. It also aims at finding out the differences in the schools' members perspective. The sample of the study consisted of (86) school members who work in (University of Jordan, Yarmouk University, Mu'tah University, Hashemite University, and Al-Ahliyya Amman University). To achieve the objectives of the study, the Descriptive approach was used. The results showed that the reality of applying governance came to a high degree, and they were statistically significant in the perspective of …

The Image Of The Andalusian Woman In Love And Adored In The Muwashahat Of The Sixth Century Ah In Andalusia, Ali Mosa A-Masha’Leh, Nawal Abd Rahman Al-Shawabkeh

Al-Balqa Journal for Research and Studies البلقاء للبحوث والدراسات

This research aims at exploring the image of the Andalusian woman in love and adored in the sixth hijri century of Andalusia. It explores the real image of women through Andalusian muwashahat and books of literature, translations and others. This research displays the image of the beloved woman and her relationship with her mother where washaheen discuss her beauty. As for the beloved woman, washaheen believe that she has the right to flirt with men, so she was given the chance to express herself using the last section of muwashat. The woman searches for her lover, so she goes to …