Securities Law Prof Blog

New Securities Law Articles in Print

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

Zachary Barker, Note, Socially Accountable Investing: Applying Gartenberg v. Merrill Lynch Asset Management's Fiduciary Standard to Socially Responsible Investment Funds, 53 Colum. J.L. & Soc. Probs. 283 (2020).

Charles W. Mooney Jr., Beyond Intermediation: A New (Fintech) Model for Securities Holding Infrastructures, 22 U. Pa. J. Bus. L. 386 (2020).

Bernard S. Sharfman, Enhancing the Value of Shareholder Voting Recommendations, 86 Tenn. L. Rev. 691 (2019).

Joel Slawotsky, Financial Stability and National Security in an Era of Hegemonic Rivalry: The Need to Tighten United States Securities Disclosure Requirements
22 U. Pa. J. Bus. L. 457 (2020).

Deirdre Weiss, Enforcement of the Foreign Corrupt Practices Act against Foreign Issuers: Helping or Hindering the Global Anti-Bribery and Anti-Corruption Movement?, 20 J. Int'l Bus. & L. 1 (2020).

David A. Wishnick, Reengineering Financial Market Infrastructure, 105 Minn. L. Rev. 2379 (2021).

Yesha Yadav, The Failed Regulation of U.S. Treasury Markets, 121 Colum. L. Rev. 1173 (2021).

Aiste Zalepuga, Note, Updating the Federal Agency Enforcement Playbook, 96 Notre Dame L. Rev. 2083 (2021).

Event Announcement: Business Roundtable v. Milton Friedman: Reflections on the Second Anniversary of “Redefining” the Purpose of the Corporation

The Law & Economics Center (LEC) at George Mason University Antonin Scalia Law School has asked me to post the following invitation:

Business Roundtable v. Milton Friedman: Reflections on the Second Anniversary of “Redefining” the Purpose of the Corporation Date: Wednesday, August 18, 2021  Time: 11:45 AM - 1:00 PM  Where: National Press Club, 529 14th St, NW, Washington, DC, 20045 Almost 51 years ago, on September 13, 1970, Milton Friedman published an essay in The New York Times with a title that captured his thesis that “The Social Responsibility Of Business Is to Increase Its Profits.” This shareholder value maximization metric for evaluating the legal and financial fiduciary duties of corporate officers has served as the dominant paradigm for defining the purpose of the corporation both before and certainly for the fifty years after publication of Friedman’s influential essay. Yet, on August 19, 2019 – now nearly two years ago – the powerful Business Roundtable attempted to effect a dramatic shift away from the purpose of the corporation being defined by the single metric of shareholder wealth maximization. It released what it called a “new Statement on the Purpose of a Corporation signed by 181 CEOs who commit to lead their companies for the benefit of all stakeholders – customers, employees, suppliers, communities and shareholders." This move was received with both applause and condemnation, each of which continue two years later.  Join us for a luncheon discussion where a panel of corporate governance experts will evaluate the economic and legal arguments involved in the debate over the proper purpose of the corporation and reflect on the state of the debate two years after the Business Roundtable’s attempt to erase the Friedman doctrine and redefine corporate purpose.

Lisa Fairfax Presidential Professor and Co-Director, Institute for Law and Economics University of Pennsylvania Carey Law School Donald J. Kochan Professor of Law and Deputy Executive Director, Law & Economics Center George Mason University Scalia Law School

Robert T. Miller F. Arnold Daum Chair in Corporate Finance and Law University of Iowa College of Law Roberto Tallarita Lecturer on Law and Associate Director of the Program on Corporate Governance Harvard Law School

Moderator

The Honorable David J. Porter Circuit Judge U.S. Court of Appeals for the Third Circuit

Welcome Remarks

Ken Randall Allison and Dorothy Rouse Dean and George Mason University Foundation Professor of Law George Mason University Scalia Law School

Register Here

For questions, please contact Kaylie Wray: kwray2@gmu.edu | 703.993.9044

New Securities Law Articles in Print

The following law review article relating to securities regulation is now available in paper format:

Thomas Lee Hazen, Corporate and Securities Law Impact on Social Responsibility and Corporate Purpose, 62 B.C. L. Rev. 851 (2021).

New Securities Law Articles in Print

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

Joel E. Davidson, Has the SEC Permitted the Securities Markets to Become but Another Form of Sports Betting?, 44 Nova L. Rev. 143 (2020).

Steven McNamara, Morrison v. National Australia Bank and the Growth of the Global Securities Class Action under the Dutch WCAM, 68 Buff. L. Rev. 479 (2020).