An Evaluation Of The U.S. Regulatory Response to Systemic Risk and Failure Posed by Derivatives

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This Article will focus on Titles II and VII of the Dodd-Frank Act in order to examine how transacting in derivatives has changed in the aftermath of this legislation and to assess how the bankruptcy of a systemically important financial institution engaged in derivative transactions will be approached.

Making Equity Crowdfunding Work for the Unaccredited Crowd

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The Jumpstart Our Business Startups (JOBS) Act creates a new “crowdfunding exemption” that will allow companies to raise up to $1 million every twelve months by selling their stock (or other unregistered securities) to both accredited and unaccredited investors, provided that the sales are made through registered intermediaries. This article summarizes why the crowdfunding exemption is important, explains how its expected costs are problematic, and proposes ways to mitigate those costs without sacrificing investor protection.

The CFTC’s Cross-Border Guidance for Swaps and Substituted Compliance Regime

Added by 4 months ago

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James Schwartz: The regulation of the swaps market, in which transactions between counterparties in wide-ranging jurisdictions have long been routine, requires international coordination and cooperation. If this were lacking, the consequences could include regulatory arbitrage, outsized compliance costs for, or incomplete compliance by, market participants, the fracturing of liquidity among different jurisdictions, and perhaps even political tensions.

The Regulatory Challenge Of Distributed Generation

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David B. Raskin: Recent published reports point toward a growing conviction that the demand for utility service from the U.S. electric grid may soon decline, perhaps substantially, due to the expanding use of distributed generation. If distributed generation comes to play a significant role, the loss of demand for service from the grid may eventually make it difficult for the owners of grid assets to recover their costs, creating what the utility industry calls “stranded costs.”

Investing in U.S. Pipeline Infrastructure: Could the Proposed Master Limited Partnerships Parity Act Spur New Investment?

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Linda E. Carlisle, Daniel A. Hagan and Jane E. Rueger: This Article explores combining the traditional oil and gas pipeline structure with solar electric generation to: (1) increase the return on pipeline investments by making the income from a solar electric generation business available to pipeline operators; and (2) lower the cost of operating the pipeline.

The Equity Façade of SEC Disgorgement

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Russell G. Ryan: The SEC commonly describes disgorgement as an equitable remedy, and courts similarly begin their disgorgement analyses by assuming as axiomatic the equitable nature of disgorgement. But what if that premise is wrong? What if disgorgement is an equitable remedy only some of the time? What if in many cases it is actually a remedy at law, or even a punitive remedy? And what if in some cases the very label of disgorgement is a misnomer?

Brazilian Private Equity Funds (FIPs): A DNA Change in Brazilian M&A Deals

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José Carlos Junqueira Sampaio Meirelles and Caio Carlos Cruz Ferreira Silva: M&A deals in Brazil involving private equity players have been undergoing an important DNA change stemming from the increasing use of the Brazilian Private Equity Fund (Fundo de Investimento em Participações (FIP)).

The Lessons from Libor for Detection and Deterrence of Cartel Wrongdoing

Added by 1 year ago

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Rosa M. Abrantes-Metz & D. Daniel Sokol: In late June 2012, Barclays entered a $453 million settlement with U.K. and U.S. regulators due to its manipulation of the London Interbank Offered Rate (Libor).

Restructuring Sovereign Debt Under Local Law: Are Retrofit Collective Action Clauses Expropriatory?

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Melissa A. Boudreau: The European sovereign debt crisis has generated a number of controversial restructuring proposals that would have seemed appropriate only for emerging markets just a few years ago...

Economic Crises and Emergency Powers in Europe

Added by 2 years ago

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Ragnhildur Helgadóttir: This article discusses the state reactions to financial crises from the point of view of domestic constitutional law and the main international obligations of European countries...