Securities Law Prof Blog

New in Print

The following law review articles relating to securities regulation are now available in paper format:

Chris Brummer, Disruptive Technology and Securities Regulation, 84 Fordham L. Rev. 977 (2015).

Sarah Dadush, Regulating Social Finance: Can Social Stock Exchanges Meet the Challenge?, 37 U. Pa. J. Int'l L. 139 (2015).

James A. Fanto, The Vanishing Supervisor, 41 J. Corp. L. 117 (2015).

Justin C. Ferrone, Comment, Classless Investing: Why Enforcing Class Action Waivers Is Both Proper, and Beneficial, for Investors, 45 Seton Hall L. Rev. 1049 (2015).

Adam R. Foresman, Note, Once More Unto the [Corporate data] Breach, Dear Friends, 41 J. Corp. L. 343 (2015).

Greg Gaught, Note, Rethinking Janus: Preserving Primary-Participant Liability in SEC Antifraud Enforcement Actions, 65 Duke L.J. 527 (2015).

Anand Goel & Sumon Mazumdar, The Problem of Hindsight Bias in Fraudulent Conveyance Cases: A Review of Possible "Market-Based" Solutions, 27 Research in L. & Econ. 91 (2015).

Joseph A. Grundfest, Morrison, the Restricted Scope of Securities Act Section 11 Liability, and Prospects for Regulatory Reform, 41 J. Corp. L. 1 (2015).

Ashley J. Hersutamto, Comment, A Fundamentally Different Regulatory Calculus: The Advent of Regulation D, Rule 506(c), 10 FIU L. Rev. 239 (2014).

Stephanie Klein, Comment, Interpreting the Definition of a Whistleblower under Dodd-Frank's Anti-Retaliation Provision: How and Why Public Policy Should Guide the Courts in Finding that Whistleblowers Do Not Need to Report to the SEC, 10 FIU L. Rev. 279 (2014).

Julia Kline, Comment, Basic's "Bitter Harvest": The Court's Continued Adherence to a Flawed Economic Theory in Halliburton, 48 Loy. L.A. L. Rev. 557 (2014).

Michael M. Krauss, Julie R. Landy & Jeremy R. Harrell, For Whom the Whistle Blows: The Role of Private Enforcement in Dodd-Frank's Regulatory Framework, 8 U. St. Thomas J.L. & Pub. Pol'y. 194 (2014).

Jonathan C. Lipson et al, The Pattern in Securitization and Executive Compensation: Evidence and Regulatory Implications, 20 Stan. J.L. Bus. & Fin. 323 (2015).

Michael K. Molitor, Business Associations, 60 Wayne L. Rev. 837 (2015).

Robert Strongarone, Comment, Settling the Scienter Split: Why Scienter Should Not Be Required for SEC Enforcement of Rule 13b2-2 Violations, 10 FIU L. Rev. 317 (2014).

Andrew Walker, Note, Why Shouldn't We Protect Internal Whistleblowers? Exploring Justifications for the Asadi Decision, 90 N.Y.U. L. Rev. 1761 (2015).

Yesha Yadav, How Algorithmic Trading Undermines Efficiency in Capital Markets, 68 Vand. L. Rev. 1607 (2015).

Symposium in Honor of Professor Alan R. Bromberg. Preface by Marc I. Steinberg; tributes by Christopher H. Hanna, Joseph J. Norton, Marc I. Steinberg, Peter Winship, C. Steven Bradford, Douglas M. Branson, Richard M. Buxbaum, John C. Coffee, Jr., Wendy Gerwick Couture, James D. Cox, Onnig H. Dombalagian, Franklin A. Gevurtz, Roberta S. Karmel, Michael J. Kaufman, John M. Wunderlich, Mark J. Loewenstein, Lewis D. Lowenfels, Michael J. Sullivan, Joan MacLeod Heminway, Daniel J. Morrissey, Norman S. Poser, A.C. Pritchard, Joel Seligman, Mary Siegel, Manning Gilbert Warren III and Verity Winship. 68 SMU L. Rev. 595-924 (2015).

New in Print

The following law review articles relating to securities regulation are now available in paper format:

Hilary J. Allen, Putting the "Financial Stability" in Financial Stability Oversight Council, 76 Ohio St. L.J. 1087 (2015).

Cathy Hwang & Benjamin P. Edwards, The Value of Uncertainty, 110 Nw. U. L. Rev. 283 (2015).

SEC Announces Creation of Office of Risk and Strategy for its National Exam Program

Details available here.

SEC to Hold National Compliance Outreach Seminar for Investment Companies and Investment Advisers

Details available here.

Hwang and Edwards on Securitized Financial Instruments

Cathy Hwang & Benjamin P. Edwards have posted The Value of Uncertainty on SSRN with the following abstract:

In recent years, federal courts have heard, without clear subject matter jurisdiction, contract disputes involving billions of dollars worth of securitized financial instruments (SFIs). These SFI disputes are litigated in federal court under the federal interpleader statute, which specifies that a federal court has subject matter jurisdiction over these cases only when parties deposit the disputed amount with the court. SFI litigants have ignored this requirement, so courts have, at best, uncertain jurisdiction over these cases. Why have no parties raised the jurisdictional defect, even though some would stand to gain from raising it? This Essay advances game theoretical explanations for litigants’ puzzling silence in these major post-financial crisis cases, and argues that parties may strategically value litigating in federal court under jurisdictional uncertainty over other alternatives.

Dolgopolov on Off-Exchange Market Makers

Stanislav Dolgopolov has posted Wholesaling Best Execution: How Entangled Are Off-Exchange Market Makers? on SSRN with the following abstract:

This Article examines the reach of the duty of best execution to and potential breaches of this duty by off-exchange market makers in the context of the evolving business model of these market participants and the current market structure crisis. Several key areas, such as routing practices, order handling functionalities, and the usage of private data feeds, are analyzed.

New in Print

The following law review articles relating to securities regulation are now available in paper format:

Blair Bowman, Note, A Comparative Analysis of Crowdfunding Regulation in the United States and Italy, 33 Wis. Int'l L.J. 318 (2015).

Gregory DiCiancia, Note, Limiting Frivolous Shareholder Lawsuits via Fee-Shifting Bylaws: A Call for Delaware to Overturn and Revise Its Fee-Shifting Bylaw Statute, 56 B.C. L. Rev. 1537 (2015).

Johannes W. Fedderke & Marco Ventoruzzo, Do Conservative Justices Favor Wall Street? Ideology and the Supreme Court's Securities Regulation Decisions, 67 Fla. L. Rev. 1211 (2015).

Merritt B. Fox, Lawrence R. Glosten & Gabriel V. Rauterberg, The New Stock Market: Sense and Nonsense, 65 Duke L.J. 191 (2015).

Joseph Grusman, Note, Gaming Corporations Gamble with the FCPA, 6 UNLV Gaming L.J. 117 (2015).

Stephen J. Kozey, Note. The Hague Securities Convention: An Opportunity to Take the UCC Global, 46 Geo. J. Int'l L. 1213 (2015).

Jerry W. Markham, High-Speed Trading on Stock and Commodity Markets--From Courier Pigeons to Computers, 52 San Diego L. Rev. 555 (2015).

Leah Neupert, Comment, A Court's Guide on How to Gut Precedent by Relying on It: Halliburton II's Puzzling Effect on Securities-Fraud Class Actions, 76 La. L. Rev. 225 (2015).

Abram Olchyk, Comment, A Spoof of Justice: Double Jeopardy Implications for Convictions of Both Spoofing and Commodities Fraud for the Same Transaction, 65 Am. U. L. Rev. 239 (2015).

Samuel D. Posnick, Note, A Merry-Go-Round of Metal and Manipulation: Toward a New Framework for Commodity Exchange Self-Regulation, 100 Minn. L. Rev. 441 (2015).

Cary Martin Shelby, Privileged Access to Financial Innovation, 47 Loy. U. Chi. L.J. 315 (2015).

David Solomon & Eugene Soltes, What Are We Meeting For? The Consequences of Private Meetings with Investors, 58 J.L. & Econ. 325 (2015).

Bernard Tsepelman, Note, A Safe Harbor for Communicating or Trading on Material Nonpublic Information Obtained through "Replicable" Methods or Strategies: Proposed SEC Rule 10b5-SH, 37 Cardozo L. Rev. 353 (2015).