Unnecessary Reform: The Fallacies With And Alternatives To Sec Regulation Of Hedge Funds,
2012
Pepperdine University
Unnecessary Reform: The Fallacies With And Alternatives To Sec Regulation Of Hedge Funds, Evan M. Gilbert
The Journal of Business, Entrepreneurship & the Law
No abstract provided.
The Unsuitability Of The "Suitability Rule": Why Finra's Current Interpretation Of Conduct Rule 2310 Undermines Investor "Holding Claim" Entitlements In Contemporary Markets,
2012
Pepperdine University
The Unsuitability Of The "Suitability Rule": Why Finra's Current Interpretation Of Conduct Rule 2310 Undermines Investor "Holding Claim" Entitlements In Contemporary Markets, Laurence A. Steckman, Robert E. Conner
The Journal of Business, Entrepreneurship & the Law
This article's thesis is that FINRA Conduct Rule 2310, FINRA's “suitability rule,” should be interpreted to govern all broker-customer communications that constitute non-trivial investment advice regarding portfolio composition, not just buy, sell or exchange communications, per current interpretation (the “BSE Interpretation”). Because acting on advice to hold a security (a “Holding Claim”) can affect risk just as significantly as a recommendation to buy, sell or exchange one, the BSE Interpretation leaves a large body of investment advice affecting customer portfolio risk unregulated by suitability standards. Such interpretation not only fails to reflect Rule 2310's well recognized customer-protective purposes, but effectively …
Too Much Of A Good Thing: How Much Should Hedge Funds Be Required To Disclose?,
2012
Pepperdine University
Too Much Of A Good Thing: How Much Should Hedge Funds Be Required To Disclose?, Daniel Etlinger
The Journal of Business, Entrepreneurship & the Law
No abstract provided.
A Look At The Globalization Of The Exchanges And Its Effects On The United States Market Through An Analysis Of The Nyse And
Euronext Merger,
2012
Pepperdine University
A Look At The Globalization Of The Exchanges And Its Effects On The United States Market Through An Analysis Of The Nyse And Euronext Merger, Christopher Osborne
The Journal of Business, Entrepreneurship & the Law
No abstract provided.
The Integrative Market Hypothesis
For Stock Market Fluctuations,
2012
Pepperdine University
The Integrative Market Hypothesis For Stock Market Fluctuations, Janet Kerr, Alessandro Casati
The Journal of Business, Entrepreneurship & the Law
This article provides a new understanding of stock market price fluctuations, applying the concepts of quantum physics. This new approach challenges traditional theories of stock price movement, such as Random Walk, finding them antiquated and incomplete. The paper compares the stock price fluctuations to the quantum movement of particles. Specifically, the movement of stock prices on the NASDAQ index is fitted to a curve derived from Plank's equation for black body radiation. The market is ultimately found to be not totally reactive nor random, but taking on an emergent quality. This independent movement is not expected from the interaction of …
Codes Of Ethics And State Fiduciary Duties: Where Is The Line?,
2012
Pepperdine University
Codes Of Ethics And State Fiduciary Duties: Where Is The Line?, Z. Jill Barclift
The Journal of Business, Entrepreneurship & the Law
No abstract provided.
Goldstein V. Securities And
Exchange Commission,
2012
Pepperdine University
Goldstein V. Securities And Exchange Commission, Todd Zaun
The Journal of Business, Entrepreneurship & the Law
Hedge funds are one of the fastest growing and most controversial segments of the financial market. Most people know very little about hedge funds other than that they are the investment vehicle of choice for well-heeled investors - the place where the rich put their money in order to get even richer. In fact, hedge funds thrive on the lack of knowledge about what exactly it is that they do. Without the ability to keep their trading strategies confidential, hedge funds argue they would not be able generate the impressive returns that keep them in business. And so when the …
Arbitration Of Investors' Claims Against Issuers: An Idea Whose Time Has Come,
2012
University of Cincinnati College of Law
Arbitration Of Investors' Claims Against Issuers: An Idea Whose Time Has Come, Barbara Black
Faculty Articles and Other Publications
Ever since the U.S. Supreme Court held that arbitration provisions contained in brokerage customers’ agreements were enforceable with respect to federal securities claims, proposals have been floated to include in an issuer’s governance documents a provision that would require arbitration of investors’ claims against the issuer. To date, however, publicly traded domestic issuers and their counsel have not seriously pursued these proposals, probably because of several legal obstacles to implementation. In addition to these legal obstacles, publicly traded issuers may not have perceived significant advantages to arbitration. Recent legal developments, however, make inclusion of an arbitration provision in a publicly …
Matrixx Initiatives, Inc. V. Siracusano: Nasal Spray Decision Throws Corporations Off The Scent Of "Materiality" Definition,
2012
University of Maryland Francis King Carey School of Law
Matrixx Initiatives, Inc. V. Siracusano: Nasal Spray Decision Throws Corporations Off The Scent Of "Materiality" Definition, Marcie Brecher
Proxy
No abstract provided.
Insider Trading In China: Compared With Cases In The United States,
2012
University of Maryland Francis King Carey School of Law
Insider Trading In China: Compared With Cases In The United States, Greg Tzu Jan Yang
Maryland Series in Contemporary Asian Studies
No abstract provided.
Sec And The Foreign Corrupt Practices Act: Fighting Global Corruption Is Not Part Of The Sec's Mission,
2012
University of Cincinnati College of Law
Sec And The Foreign Corrupt Practices Act: Fighting Global Corruption Is Not Part Of The Sec's Mission, Barbara Black
Faculty Articles and Other Publications
No abstract provided.
Investor Protection Meets The Federal Arbitration Act,
2012
University of Cincinnati College of Law
Investor Protection Meets The Federal Arbitration Act, Barbara Black
Faculty Articles and Other Publications
In the past three decades, most recently in AT&T Mobility LLC v. Concepcion, the United States Supreme Court has advanced an aggressive proarbitration campaign, transforming the Federal Arbitration Act (FAA) into a powerful source of anti-consumer substantive arbitration law. In the aftermath of AT&T Mobility, which upheld a prohibition on class actions in a consumer contract despite state law that refused to enforce such provisions on unconscionability grounds, efforts have been made to prohibit investors from bringing class actions or joining claims, including claims under the Securities Exchange Act of 1934 (the Exchange Act). In the most egregious …
Malack V. Bdo Seidman, Llp: Gatekeepers Not So Conflicted In The Fraud-Created-The-Market Theory,
2012
University of Maryland Francis King Carey School of Law
Malack V. Bdo Seidman, Llp: Gatekeepers Not So Conflicted In The Fraud-Created-The-Market Theory, Chelsea Ortega
Journal of Business & Technology Law
No abstract provided.
The Politicization Of Corporate Governance: Bureaucratic Discretion, The Sec, And Shareholder Ratification Of Auditors,
2012
University of Denver
The Politicization Of Corporate Governance: Bureaucratic Discretion, The Sec, And Shareholder Ratification Of Auditors, J. Robert Brown Jr.
Sturm College of Law: Faculty Scholarship
The role of the Securities and Exchange Commission in the corporate governance process has shifted dramatically in recent years. The Commission has increasingly supplanted state law in determining substantive standards of corporate governance. The replacement of states with the Commission will have significant consequences.
The Facebook Ipo's Face-Off With Dual Class Stock Structure,
2012
University of Michigan Law School
The Facebook Ipo's Face-Off With Dual Class Stock Structure, Anna S. Han
University of Michigan Journal of Law Reform Caveat
The Facebook initial public offering (“Facebook IPO”) is premised on a dual class stock structure, which the media criticizes as a circumvention of regulations designed to protect shareholders. I argue that Facebook’s use of dual class stock not only is likely to benefit its shareholders, but also follows in the footsteps of seasoned, influential companies like Google.
Below Investment Grade And Above The Law: A Past, Present And Future Look At The Accountability Of Credit Rating Agencies,
2012
Nova Southeastern University - Shepard Broad Law Center
Below Investment Grade And Above The Law: A Past, Present And Future Look At The Accountability Of Credit Rating Agencies, Marilyn Blumberg Cane, Adam Shamir, Tomas Jodar
Faculty Scholarship
This article covers the evolution of the credit rating industry, in particular, the noteworthy shift from purchaser-subscriber to issuer pay model. It then describes the history of SEC CRA regulatory measures, most notably the adoption of SEC Rule 436(g), adopted in 1982, which specifically eliminated liability for the big CRAs (Moody’s, Standard & Poor’s, Fitch’s and Duff and Phelps) as “experts” under Sections 7 and 11 of the Securities Act of 1933. The article then covers the Credit Rating Agency Reform Act of 2006 and the adoption of SEC Rule 17g-5 in an attempt to control conflicts of interest within …
Gender And Securities Law In The Supreme Court,
2012
Washington and Lee University School of Law
Gender And Securities Law In The Supreme Court, Lyman P.Q. Johnson, Michelle Harner, Jason A. Cantone
Scholarly Articles
The 2010 appointment of Elena Kagan to the United States Supreme Court meant that, for the first time, three female justices would serve together on that court. Less clear is whether Justice Kagan’s gender will really matter in how she votes as a justice. This question is an especially visible aspect of a larger issue: do female judges display gendered voting patterns in the cases that come before them?
This article makes a novel contribution to the growing literature on female voting patterns. We investigated whether female justices on the United States Supreme Court voted differently than, or otherwise influenced, …
Conflict Minerals And Sec Disclosure Regulation,
2012
University of Denver
Conflict Minerals And Sec Disclosure Regulation, Celia R. Taylor
Sturm College of Law: Faculty Scholarship
Mention the Dodd-Frank Wall Street Reform and Consumer Protection Act (―Dodd-Frank‖ or the ―Act‖),1 and most people think of legislation aimed at ―fundamental reform of the financial system‖2 focused on regulation of Wall Street practices and complex financial products. But tucked within the voluminous text of the Act (which consists of 2,300 pages and stipulates the passage of 387 rules by 20 different agencies3) is a provision having nothing to do with these issues or anything remotely related to them. Instead the ―conflict minerals‖ provision of the Act requires companies that are subject to the reporting requirement of the federal …
A Brave New World: Credit Default Swaps And Voluntary Debt Exchanges, 45 J. Marshall L. Rev. 1227 (2012),
2012
UIC School of Law
A Brave New World: Credit Default Swaps And Voluntary Debt Exchanges, 45 J. Marshall L. Rev. 1227 (2012), Mark Swantek
UIC Law Review
No abstract provided.
Is Canada The New Shangri-La Of Global Securities Class Actions?,
2012
Northwestern Pritzker School of Law
Is Canada The New Shangri-La Of Global Securities Class Actions?, Tanya J. Monestier
Northwestern Journal of International Law & Business
There has been significant academic buzz about Silver v. Imax, an Ontario case certifying a global class of shareholders alleging statutory and common law misrepresentation in connection with a secondary market distribution of shares. Although global class actions on a more limited scale have been certified in Canada prior to Imax, it can now be said that global classes have “officially” arrived in Canada. Many predict that the Imax decision means that Ontario will become the new center for the resolution of global securities disputes. This is particularly so after the United States largely relinquished this role in Morrison v. …
