Wednesday, February 1, 2023

Open Postdoc/fellowship position at Wharton Initiative on Financial Policy and Regulation in Bankruptcy/Restructuring

Dear BLPB Readers:

Here is some exciting news from the Wharton Initiative on Financial Policy and Regulation:

"The Wharton Initiative on Financial Policy and Regulation (WIFPR) is seeking a postdoctoral fellow to support its activities in the field of bankruptcy and restructuring. WIFPR sponsors research, organizes conferences and events, and supports faculty and students at the intersection of finance, law, and policy.

The postdoctoral fellow will be responsible for coordinating WIFPR’s work in bankruptcy/restructuring. More generally, responsibilities include: conducting original research on bankruptcy/restructuring, contributing to WIFPR’s academic programming, engaging with stakeholders, and assisting Faculty Directors and the Senior Fellow with WIFPR events and administration generally.

The postdoctoral fellow will receive a competitive salary and associated benefits. There is no teaching obligation.

The candidate must have a JD or PhD. The candidate should also have some experience with data analysis.

The term of appointment is two years, beginning July 1, 2023. The ideal candidate would have the intention of pursuing a research career in either law, economics, or finance."

Full details of this open position are here.

 

February 1, 2023 in Colleen Baker, Jobs | Permalink | Comments (0)

Wednesday, January 25, 2023

Open Faculty Position - Assistant Professor of Business Law, Minnesota State University Mankato

Dear BLPB Readers:

From Professor Wade Davis:

"Minnesota State University Mankato is hiring a tenure track Business Law professor position for fall 2023. Here is a link to the Job Posting.

The Business Law program is located in the College of Business and provides students the practical knowledge and skills needed to become impactful leaders, entrepreneurs, and professionals who make legally-informed, ethical, and strategic decisions. It offers a robust curriculum including courses in contract law, employment law, intellectual property, environmental law, negotiation, and international law.

The Business Law program has a stand-alone minor with approximately 40 declared students. It teaches core classes for the College of Business, the MBA program, and several departments across the university.

Applications will start to be reviewed on Feb. 28 and continue until the position is filled. Minnesota State University, Mankato is an Affirmative Action/Equal Opportunity University and a member of the Minnesota State System. Please contact Wade Davis at wade.davis@mnsu.edu if you have any questions."

 

January 25, 2023 in Colleen Baker, Jobs | Permalink | Comments (0)

Wednesday, January 11, 2023

Newly Released - Independent Review of Events in the Nickel Market in March 2022

For those readers interested in exchanges and clearing, I wanted to highlight that Oliver Wyman's "Independent Review of Events in the Nickel Market in March 2022" was released yesterday.  As I noted in an earlier post (here), in March 2022, the price of nickel on the LME rose over 270%, and the exchange not only halted nickel trading, but also canceled trades.  Additionally, the LME, who engaged Oliver Wyman to produce this Review, released "LME Group Response to Oliver Wyman Independent Review."  The Executive Summary - which is all I've had time to read thus far - notes that:

"The primary objectives of the review were to identify the factors that contributed to market conditions in the
nickel market in the period leading up to, and including, March 8, 2022, and make recommendations for how the
LME Group could reduce the likelihood of similar events occurring again"   

January 11, 2023 in Colleen Baker, Financial Markets | Permalink | Comments (1)

Sunday, January 8, 2023

Deadline Extended - Fordham Journal of Corporate and Financial Law Call for Papers

Dear BLPB Readers:

"Fordham JCFL Volume XXVIII: Call for Submissions Update

The Fordham Journal of Corporate & Financial Law has extended its call for submissions for the Spring 2023 Issue of Volume XXVIII to February 3rd, 2023

As one of the premier student-edited business law journals in the country, the Journal ranks among the top-five specialty journals in banking and financial law, and among the top-ten specialty journals in corporate and securities law. The Journal welcomes articles and essays addressing important issues in antitrust, banking, bankruptcy, corporate governance, capital markets, finance, mergers and acquisitions, securities, and tax law and practice in the United States.

Please send all submissions to either our Scholastica page or our email at jcfl@fordham.edu. For more information regarding submissions, please visit our website. If you have any questions, please contact Brendan Finnerty, Senior Articles Editor, at bfinnerty6@fordham.edu."

January 8, 2023 in Call for Papers, Colleen Baker | Permalink | Comments (0)

Wednesday, December 28, 2022

Recordings of Debt Market Complexity: Shadowed Practices and Financial Injustice

Earlier this year, co-blogger Joan Heminway posted about the University of Pennsylvania Law Review's October 2022 Symposium, Debt Market Complexity: Shadowed Practices and Financial Injustice.  It was a fantastic program! For interested BLPB readers who were unable to attend, I wanted to share that recordings of the program were available online.   

December 28, 2022 in Colleen Baker | Permalink | Comments (0)

Friday, December 16, 2022

Open Legal Studies Faculty Positions - Georgia State University College of Business

Dear BLPB Readers:

"GEORGIA STATE UNIVERSITY invites applications for full-time tenure-track and non-tenure-track faculty positions in Legal Studies in the Department of Risk Management and Insurance at the J. Mack Robinson College of Business, effective for Fall 2023. The salary level, benefits, and course-load for these positions are competitive. Candidates must have a J.D. (or a PhD) from an accredited institution. For additional information, please access the tenure-track position posting here (https://academicjobsonline.org/ajo/jobs/23860) and the non-tenure-track position posting here (https://academicjobsonline.org/ajo/jobs/23859)."

December 16, 2022 in Colleen Baker, Jobs | Permalink | Comments (0)

Wednesday, December 14, 2022

Call for Panel and Independent Paper Proposals - Money as a Democratic Medium 2.0

Dear BLPB Readers:

The below is from the Call for Panel and Independent Paper Proposals for the upcoming conference, Money as a Democratic Medium 2.0.

"We are delighted to announce Money as a Democratic Medium 2.0. The Conference will be held at two sites in order to maximize participation while minimizing carbon impacts: Cambridge, MA (Harvard Law School, June 15-17, 2023) and Hamburg, Germany (the Hamburg Institute for Social Research and THE NEW INSTITUTE,  June 15-16, 2023).  The Conference is open to all students of money, credit, and finance, the monetary system, and the modern economy, including members of the public. We will offer robust online access and we encourage distant participants to join us virtually."

The full call is here.  The deadline for submissions is February 1, 2023.

December 14, 2022 in Call for Papers, Colleen Baker | Permalink | Comments (0)

Wednesday, November 30, 2022

Call for Papers - World Federation of Exchanges Clearing and Derivatives Conference 2023

Dear BLPB Readers:

"The World Federation of Exchanges is organising its 40th Annual Clearing and Derivatives Conference, WFEClear, hosted by the Johannesburg Stock Exchange (JSE) and its CCP, JSE Clear. 

We invite the submission of theoretical, empirical, and policy research papers on issues related to the conference topics. Accepted papers will be presented at the conference and posted as part of the Conference Proceedings on the Financial Economic Network (SSRN)."

Note that the submission deadline of December 13, 2022, is fast approaching!  The complete call for papers is here.

November 30, 2022 in Call for Papers, Colleen Baker | Permalink | Comments (0)

Wednesday, November 16, 2022

Call for Papers - Michigan Law 2023 Junior Scholars Conference

Dear BLPB Readers:

"The University of Michigan Law School invites junior scholars to attend the 9th Annual Junior Scholars Conference, which will take place in person on April 21-22, 2023 in Ann Arbor, Michigan. The conference provides junior scholars with a platform to present and discuss their work with peers, and to receive detailed feedback from senior members of the Michigan Law faculty. The Conference aims to promote fruitful collaboration between participants and to encourage their integration into a community of legal scholars. The Junior Scholars Conference is intended for academics in both law and related disciplines. Applications from graduate students, SJD/PhD candidates, postdoctoral researchers, lecturers, teaching fellows, and assistant professors (pre-tenure) who have not held an academic position for more than four years, are welcome.

Applications are due by January 9, 2023."
 

November 16, 2022 in Call for Papers, Colleen Baker | Permalink | Comments (0)

Wednesday, November 9, 2022

Call for Papers - Wharton Financial Regulation Conference 2023

Dear BLPB Readers:

"The Wharton School of the University of Pennsylvania will host its annual Wharton Financial
Regulation Conference on April 14, 2023.

We issue a call for papers to any scholars from any discipline—law, economics, political science,
history, business, and beyond—to submit papers on any topic related to financial regulation,
broadly construed. Special attention will be paid to junior scholars and those new to the financial
regulation community, but we welcome all submissions, including from those who have presented
before.

To submit a paper, please include an unpublished manuscript not exceeding 25,000 words and a CV
to conference organizer David Zaring, by February 1, 2023. Selected presenters will be notified by
email by February 15, 2023."

The call for papers is also Download 2023 Wharton Fin Reg Call for Papers.

 

November 9, 2022 in Call for Papers, Colleen Baker | Permalink | Comments (0)

Tuesday, November 8, 2022

Fireside Chats with Four CFTC Commissioners!

Dear BLPB Readers:

The ABA's Derivatives and Futures Law Committee's virtual mid-year event on October 6, 2022, included fireside chats with CFTC Commissioners Johnson, Goldsmith-Romero, Mersinger, and Pham.  I wasn't able to watch these interesting and highly-informative discussions in real-time, so I'm happy that recordings are now available and wanted to share a link to each with BLPB readers!

Fireside chat with Commissioner Johnson

Fireside chat with Commissioner Goldsmith-Romero

Fireside chat with Commissioner Mersinger

Fireside chat with Commissioner Pham

 

    

November 8, 2022 in Colleen Baker, Financial Markets | Permalink | Comments (0)

Wednesday, November 2, 2022

Sept 20, 2022, Meeting of the CFTC's Energy and Environmental Markets Advisory Committee

Today, I finally had a chance to watch a recording of the September 20, 2022, meeting of the CFTC’s Energy & Environmental Markets Advisory Committee (EEMAC). In past posts, I’ve mentioned having coauthored my first energy paper and my involvement with the University of Oklahoma’s Robert M. Zinke Energy Management Program, the first of its kind in the U.S.! The roles of derivatives in energy and commodity markets is increasingly in the spotlight. For example, last spring, European energy traders reached out to the European Central Bank (ECB) for emergency liquidity support because of clearinghouse collateral calls, but the ECB declined to assist. And there was the LME nickel incident of March 2022 (a post here). Undoubtedly, the interconnections between energy and financial markets, particularly derivatives, are set to become increasingly critical, especially in the global transition to a clean energy future.

The EEMAC meeting focused on two topics: 1) “Investment in physical energy infrastructure and the effect on price volatility in the commodities markets” and 2) “The role of the metals market as components in transitional energy sources and the potential impact on financial markets regulated by the CFTC.” The agenda can be found is here. The EEMAC voted to recommend to the CFTC Commissioners that Subcommittees be formed to study/write reports on each topic.

I thought I’d also note a few areas of the meeting that I found particularly interesting. First, Derek Sammann from CME Group gave a fascinating presentation on The Impact of the Energy Transition on the Global Metals Markets (starts at about 2:01:30). The concluding slide had the statement: “More than anything, the energy transition is a Metals story.” Second, I listened intently to a couple of participants discuss aspects of the LME nickel incident (3:00:25). Third, I found several participants’ discussion of systemic risk, FCMs, and their capital requirements really insightful (1:40:18).

November 2, 2022 in Colleen Baker, Financial Markets | Permalink | Comments (0)

Wednesday, October 26, 2022

This Friday - Professor Macey on Market Power and Financial Risk in U.S. Payment Systems

Dear BLPB Readers:

This Friday, October 28th, at 10am ET, the Wharton Initiative on Financial Policy and Regulation is hosting an hour-long online seminar with Professor Joshua C. Macey on Market Power and Financial Risk in U.S. Payment Systems.  It should be a great event!  Registration information and a link to the whitepaper is here: Download Market Power_Financial Risk

 

October 26, 2022 in Colleen Baker, Financial Markets | Permalink | Comments (0)

Wednesday, October 19, 2022

Recording of Sept. 28th Meeting of CFTC's Market Risk Advisory Committee Available

Dear BLPB Readers,

Today, I had an opportunity to review a recording of the September 28th meeting of the CFTC's Market Risk Advisory Committee (MRAC).  For those of you who might have also missed the opportunity to view it in real time and are interested in learning more about the Committee's work, a recording is here and I list the various sections of the meeting, with approximate start times, below.

Section 1: The Future of Finance (32:25)

Section 2: Climate Related Market Risk (1:09)

Section 3: Interest Rate Benchmark Reform - Transition Away From LIBOR (1:43:50)

Section 4: CCP Risk and Governance and the Transition of CCP Services to the Cloud (1:55)

Section 5: Market Structure (2:12:50)   

October 19, 2022 in Colleen Baker, Financial Markets | Permalink | Comments (0)

Wednesday, October 5, 2022

Call for Papers - AALS Section of Financial Institutions & Consumer Financial Services

Dear BLPB Readers:

"The AALS Section of Financial Institutions & Consumer Financial Services will host the first AALS FinReg Conference on November 4, 2022, in-person, at the Antonin Scalia Law School, in Arlington, Virginia."

The deadline to submit a paper or abstract for consideration is October 16, 2022.  The complete call for papers is here: Download AALS_GMU_Call_for_paper

October 5, 2022 in Call for Papers, Colleen Baker | Permalink | Comments (0)

Monday, October 3, 2022

The Wit and Wisdom of Tom N.

It was so wonderful to be able to host an in-person version of our "Connecting the Threads" Business Law Prof Blog symposium on Friday.  Connecting the Threads VI was, for me, a major victory in the continuing battle against COVID-19--five healthy bloggers and a live audience!  Being in the same room with fellow bloggers John Anderson, Colleen Baker, Doug Moll (presenting with South Carolina Law friend-of-the-BLPB Ben Means), and Stefan Padfield was truly joyful.  And the topics on which they presented--shadow insider trading, exchange trading in the cloud, family business succession, and anti-ESG legislation--were all so salient.  (I offered the abstract for my own talk on fiduciary duties in unincorporated business associations in last week's post.)  For a number of us, the topic of our presentations arose from work we have done here on the BLPB.

This year, as I noted in my post last week, we had a special guest as our luncheon speaker.  That guest would be known to many of you who are regular readers as "Tom N."  Tom has commented on our blog posts here on the BLPB for at least eight years.  (I rooted around and found a comment from him as far back as 2014.)  And Tom lives right here in Tennessee--in middle Tennessee, to be exact (closer to Haskell Murray than to me).  You can check out his bio here.  I am delighted that we were able to coerce Tom to give up a day of law practice to come join us at the symposium.

The title/topic for Tom's talk was "A Country Boy Busines Lawyer's View from Down in the Weeds."  The talk was, by design, a series of reflections on Tom's wide-ranging business law practice here in the state of Tennessee.  He tries to stay out of the courtroom, but by his own recounting, he has been in court in every county in the state--and Tennessee has 95 counties!  

In the end, Tom ended up offering a bunch of tips for law students and lawyers (both of whom were in attendance at the symposium).  I took notes during Tom's talk.  I have assembled them into a list below.  The key points are almost in the order in which they were delivered.  The stories that led to a number of these snippets of practical advice were priceless.  You had to be there.  Anyway, here is my list, together with a few editorial comments of my own.  Tom can feel free to add, correct, or dispute my notes in the comments!

  • Take tax courses; if you fear they may hurt your GPA, audit them.
  • Use all available resources to get more knowledge.  (Tom indicated that he bought Westlaw/used Practical Law as a solo practitioner for many years but recently gave it up.  he also noted that he regularly reads a number of the law prof blogs.)
  • Be a bar association member and access the resources bar associations provide.  (Tom noted the excellent written materials published by the American Bar Association and the superior continuing legal education programs produced by the Tennessee Bar Association.)
  • “You are going to learn to write in law school.”  (Tom advised focusing on clear, efficient writing—something I just emphasized with my Business Associations students last week.)
  • Publish in the law.  (Tom shared his view that writing in the law improves both knowledge and analysis.)
  • Expect the unexpected, especially in court (e.g., confronting in court transactions in pot-bellied pigs involving a Tennessee nonprofit).  And as a Corollary: "You can't make this stuff up."  The truth often is stranger than anything you could make up . . . .)
  • In business disputes, never assume that an attorney was there on the front end.  (And yes, there was mention of the use by many unknowledgeable consumers of online entity formation services.)
  • As a lawyer, be careful not to insert your own business judgment.  The business decision is the client's to make.
  • Relatedly, let the business people hand you the framework of the deal.
  • Along the same lines: "I am not paying people to tell me I can’t do it; I am paying people to tell me how to do it.”  (As heard by Tom from his father, a business owner-manager.  I think many of us have heard this or learned this—sometimes the hard way . . . .  I do try to prevent my students from learning that lesson the hard way by telling them outright.)
  • And further: “You want to screw up a deal, put the lawyers in the center of it.”
  • As a courtroom lawyer, know the judges and—perhaps more importantly—court clerks!
  • Introduce yourself to everyone; they may be in a position to help you now or later (referencing the time he introduced himself, unknowingly, to John Wilder, the former Lt. Governor of Tennessee, who proceeded to introduce him to the local judges).
  • Preparation for the bar exam is a curriculum of its own.  (That's close to a quote.)
  • “A lot of things go more smoothly of you can get people talking.”  (Tom is more of a fan of mediation than arbitration.)
  • Local rules of court may not be even published; sometimes, you just need to pick up the phone and call the court clerk.  (Another reason to get to know local court clerks!)
  • Developing rapport with a judge is incredibly important to successful courtroom lawyering.
  • Saying "I don’t know" does not hurt anything; in fact, it may help judges/others develop confidence in you and your integrity.
  • Your law school grades will not matter after your first or second job.  Employers will be looking at you and your professional record, not your grades.

I am sure I missed something along the way.  Maybe my fellow bloggers in attendance will have something to add.  But this list alone is, imv, pure gold for students and starting lawyers.

October 3, 2022 in Colleen Baker, Conferences, Corporate Governance, Family Business, Haskell Murray, Joan Heminway, John Anderson, Lawyering, Securities Regulation, Stefan J. Padfield, Unincorporated Entities | Permalink | Comments (1)

Wednesday, September 28, 2022

Heading to Knoxville and Paying for Energy Peaks

As co-blogger Joan Heminway mentioned in Monday's post, I'm soon heading to Connecting the Threads VI.  I could not be more excited! I'm so grateful to the University of Tennessee Law School for hosting the Symposium, and especially Professors Joan Heminway and George Kuney, in addition to all of the hard-working, excellent law student editorial staff of Transactions: The Tennessee Journal of Business Law, who help with the Symposium and later edit and publish our symposium-related articles.  Paying for Energy Peaks: Learning from Texas' February 2021 Power Crisis, coauthored with Professor James Coleman, is my latest article in Transactions and my first in the energy space!  Here's its first paragraph (with footnotes removed):

"From February 14–19, 2021, winter storm Uri blanketed Texas with extreme cold. Tragically, the severe temperatures overwhelmed the state’s power system. Texas’ power grid ended up more than 20 Gigawatts short of the electricity Texans needed – more power than all of California produces on an average day. Over two-hundred lives were lost and an estimated $295 billion in damage resulted. Yet many had long regarded Texas’ electric power system, and its regulation, as a model for others. What happened? That question is the focus of this article."

 

September 28, 2022 in Colleen Baker | Permalink | Comments (0)

Monday, September 26, 2022

UT Law Again Welcomes the Business Law Prof Blog to Knoxville!

After two years of the "Zoom version" of the annual Business Law Prof Blog symposium, Connecting the Threads VI, the live, in-person symposium is back.  Scheduled for this coming Friday, September 30, the symposium features presentations by me and fellow BLPB bloggers John Anderson, Colleen Baker, Doug Moll (with co-presenter and special guest Ben Means), and Stefan Padfield.  The agenda and more can be found here.  UT Law looks forward to hosting this event for a sixth year!

I will be speaking on The Fiduciary-ness of Business Associations.  A brief summary follows.

Fiduciary duty has historically been a core value of statutory business associations.  However, with Delaware leading the charge, limited liability company and limited partnership statutes in some jurisdictions allow equity holders to contractually eliminate fiduciary duties.  In addition, state legislatures in jurisdictions like Wyoming and Tennessee have adopted legislation that allows decentralized autonomous organizations—blockchain-based associations of business venturers—to organize as limited liability companies and avoid statutory fiduciary duties without engaging in private ordering. 

The public policy ramifications of some of these legislative moves have not been fully vetted in traditional ways or have not been completely explored in certain contexts.  Moreover, business lawyers now have more options in advising businesses and their constituents, adding to already complex matrices applicable to choice-of-entity decision making.  This presentation offers a window on recent fiduciary-related legislative developments in business entity law and identifies and reflects on related professional responsibility questions impacting lawyers advising business entities and their owners.

I look forward to seeing my co-bloggers in person, sharing some ideas, and hearing from the commentators--my UT Law colleagues and students.  BLPB commenter Tom N. is making a special appearance as the symposium lunch speaker, too.  It should be a great day all around!

September 26, 2022 in Colleen Baker, Conferences, Joan Heminway, John Anderson, Stefan J. Padfield | Permalink | Comments (1)

Thursday, September 22, 2022

Open Legal Studies Faculty Position - University of Georgia Terry College of Business

Dear BLPB Readers:

"University of Georgia, Terry College of Business Lecturer of Legal Studies

Department of ILSRE

The Department of Insurance, Legal Studies and Real Estate in the Terry College of Business at The University of Georgia invites applications for a full-time non-tenure-track faculty position in Legal Studies at the lecturer level, beginning Fall 2023.

Candidates must hold a juris doctorate or equivalent degree. Strong communication skills and demonstrated potential for excellent teaching are required. The position is renewable based on performance and promotion to Senior Lecturer is possible after six years of service. For information regarding the requirements for each faculty rank, please see the University of Georgia Guidelines for Appointment and Promotion of Lecturers (https://provost.uga.edu/policies/appointment-promotion-and- tenure/guidelines-for-appointment-and-promotion-of-lecturers/).

Continue reading

September 22, 2022 in Colleen Baker, Jobs | Permalink | Comments (0)

Wednesday, September 21, 2022

Open Faculty Position in Real Estate at U. of Michigan Business School

Dear BLPB Readers:

"The Stephen M. Ross School of Business at the University of Michigan has a tenure-track position available in Real Estate starting in September 2023. Depending on interest and qualifications, the successful candidate will join the Finance, Business Economics, or Business Law area.  Teaching at the graduate and/or undergraduate level. Research and publishing, supervising doctoral research, and service contribution is required.  This position is open-rank."

The complete job posting is here.

September 21, 2022 in Colleen Baker, Jobs | Permalink | Comments (0)