Law School Blogs

May 12, 2021

The proposed guidelines that the Board of Governors of the Federal Reserve System (the Board) recently issued for public notice and comment mark the latest development on one of the most important policy questions for the U.S. financial system today: who is entitled to have a master account? Having an account at one of the twelve Federal Reserve Banks (a master account) is necessary for an institution to have direct access to the Federal Reserve’s…

The CLS Blue Sky Blog

Who Will Regulate Central Bank Digital Currencies?

By Georges Ugeux

May 12, 2021

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Though a bit provocative, this headline raises a liminal question on the various projects of Central Bank Digital Currencies (CBDBs): Which governance will apply to them? Or as Juvenal, the poet in ancient Rome, famously asked, “Who will guard the guards themselves?”[1] What Is a Central Bank Digital Currency? A CBDC is the digital form of a country’s fiat currency and, like traditional currency, represents a claim on that country’s government. Instead of printing…

Michael Geist

Heritage Minister Guilbeault Traffics in Misinformation and Conspiracy Theory as Cause of Bill C-10 Criticism and Need for Government Speech Regulation

By Michael Geist

May 11, 2021

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Last night, Canadian Heritage Minister Steven Guilbeault posted a remarkable tweet that should heighten concerns about Bill C-10, forthcoming online harms legislation, and the government’s intent with respect to free speech. In the weeks since it opened the door to treating all user generated content as a “program” subject to CRTC regulation, there has been mounting public criticism and concern about the implications for free speech. While the tech companies have remained relatively silent, Canadians…

The Girl's Guide to Law School Blog

Why You Should Celebrate Your Birthday in Law School

By Hillary Vaillancourt

May 11, 2021

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This week we welcome back guest writer Hillary Vaillancourt to talk about why celebrating life events is important – even if you’re busy in law school! My birthday falls at the end of April—smack in the middle of finals season. My first year of law school, as my birthday approached, I couldn’t find anyone who was willing { Continue Reading } The post Why You Should Celebrate Your Birthday in Law School appeared first on The Girl’s …

The CLS Blue Sky Blog

Sullivan & Cromwell Discusses New York Legislation on End of U.S. Dollar LIBOR

By Sullivan And Cromwell

May 11, 2021

On April 6, 2021, the State of New York adopted long-anticipated legislation addressing the cessation of U.S. Dollar LIBOR (“LIBOR”). The legislation provides a statutory approach to so-called “tough legacy” contracts (contracts that (1) reference LIBOR as a benchmark interest rate but do not include effective fallback provisions in the event LIBOR is no longer published or is no longer representative, and that (2), in the case of overnight, 1-month, 3-month, 6-month and 12-month LIBOR,…

The CLS Blue Sky Blog

The Efficacy of PCAOB Operational Decision Making

By James J. Blann, Tyler J. Kleppe & Jonathan E. Shipman

May 11, 2021

The operating budget of the Public Company Accounting Oversight Board (PCAOB) has grown significantly since the regulator’s inception, with the total annual resources consumed by the PCAOB almost doubling—from $127 million to $252 million—between 2006 and 2018 (PCAOB 2007, 2019). However, because all auditors of U.S. public companies have been subject to PCAOB oversight since the initiation of the regulator’s inspection program in 2003-2004, academic research has thus far offered little insight into whether the…

Michael Geist

The Law Bytes Podcast, Episode 87: What You Need to Know About Bill C-10

By Michael Geist

May 10, 2021

This past week Bill C-10, Internet free speech, and the government’s digital policy agenda went mainstream as a lead topic in government, the media, and among many Canadians. This week’s Law Bytes podcast departs from the standard format as I explain why the bill has suddenly become a hot topic, how the government has been inconsistent and at times incoherent in its attempts to justify the bill, and why the concerns regarding freedom of speech…

Michael Geist

Heritage Minister Guilbeault Says Bill C-10 Will Regulate Social Media Users With Large Number of Viewers

By Michael Geist

May 10, 2021

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The government’s defence of Bill C-10, the Broadcasting Act reform bill, took another hit over the weekend with what might have been the worst interview yet by Canadian Heritage Minister Steven Guilbeault (and that includes the CBC interview ten days ago that people are still talking about). In the span of eight minutes, Guilbeault managed to cite the wrong section in the bill, indicate that social media users with a large number of followers would…

CAP·impact

Researching Legislative History and Intent

By Chris Micheli

May 10, 2021

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For those of you who need to research the legislative intent of a bill that was enacted into law in California, you need to look at a number of options to conduct your research. I will describe some of those avenues here. First, be sure that you have a general understanding of how bills are enacted in California. Second, decide how much time you have to spend researching. Is this an urgent request where you…

The CLS Blue Sky Blog

Skadden Discusses Antitrust Enforcement in Biden Administration

By Boris Bershteyn, Tara L. Reinhart, David P. Wales, Evan R. Kreiner & Jessica R. Watters

May 9, 2021

President Biden has signaled a pro-enforcement approach to antitrust policy by naming Columbia Law School professor Tim Wu as a White House adviser and nominating Lina Khan, who also teaches at Columbia Law, to be commissioner of the Federal Trade Commission (FTC). Both are known for expansive views of the antitrust laws and advocacy of forceful enforcement, particularly against technology companies. The president has not yet announced nominees for the most critical antitrust enforcement positions…

Law School Blogs

Davis Polk Discusses Who Can Have a Federal Reserve Master Account

Who Will Regulate Central Bank Digital Currencies?

Heritage Minister Guilbeault Traffics in Misinformation and Conspiracy Theory as Cause of Bill C-10 Criticism and Need for Government Speech Regulation

Why You Should Celebrate Your Birthday in Law School

Sullivan & Cromwell Discusses New York Legislation on End of U.S. Dollar LIBOR

The Efficacy of PCAOB Operational Decision Making

The Law Bytes Podcast, Episode 87: What You Need to Know About Bill C-10

Heritage Minister Guilbeault Says Bill C-10 Will Regulate Social Media Users With Large Number of Viewers

Researching Legislative History and Intent

Skadden Discusses Antitrust Enforcement in Biden Administration

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