Law School Blogs

November 27, 2020

The hype over technology-enabled disintermediation of financial services, commonly known as fintech, seems at a peak. Though fintech firms promise to increase competition in the financial industry, it is unclear how much the various forms of fintech, including those working on the blockchain, will disrupt the current competitive environment. In our paper, we review the market failures justifying financial intermediation. We find that fintech has the potential to improve the efficiency of financial intermediation…

The CLS Blue Sky Blog

Is Stakeholder Value an Excuse for Underperfoming Managers?

By Ryan Flugum & Matthew E. Souther

November 25, 2020

In August 2019, the Business Roundtable released a statement redefining the purpose of a corporation to maximize value “for the benefit of all stakeholders – customers, employees, suppliers, communities, and shareholders.” The statement was signed by 181 CEOs, including Jamie Dimon, chairman and CEO of JPMorgan Chase and chairman of the Business Roundtable, and came after several years of political pressure on behalf of stakeholder objectives, including by U.S. Senator Elizabeth Warren. In 2018, Warren…

The CLS Blue Sky Blog

Financial Regulators Offer Update on Audit Quality in Emerging Markets

By Jay Clayton, Sagar Teotia & William D. Duhnke III

November 25, 2020

Over the past several years, the exposure of U.S. investors and our capital markets to companies with significant operations in emerging markets, including China, has increased.[1] This increased exposure carries with it a number of significant risks and challenges, many of which we described in our statement of December 7, 2018[2] and our more recent joint statement along with other SEC staff, Emerging Market Investments Entail Significant Disclosure, Financial Reporting and Other Risks;…

The Girl's Guide to Law School Blog

Young Professional Perspective – Thoughts on How Our Professional Lives and Looks Are Affected By Social Media

By Shirlene Brown

November 24, 2020

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This week we welcome back guest writer Shirlene Brown to talk about your social media and your professional image. When you enter law school and later when you get sworn in as an attorney, you take an oath of professionalism. This oath even covers situations not relating to the practice of law or situations outside { Continue Reading } The post Young Professional Perspective – Thoughts on How Our Professional Lives and Looks Are Affected …

The CLS Blue Sky Blog

Crypto-Enforcement Around the World

By Douglas S. Eakeley & Yuliya Guseva

November 24, 2020

The market for cryptoassets is burgeoning, as distributed ledger technology transforms capital and financial markets. With the extraordinary growth in the crypto-markets comes the need for regulation to promote efficiency, capital formation, and innovation while protecting investors. With the need for regulation comes enforcement. In a new article, Crypto-Enforcement Around the World, we elaborate on these issues and report on the results of an international enforcement survey conducted by our Blockchain and Fintech Research Program.…

The CLS Blue Sky Blog

Cleary Gottlieb Discusses UK Supreme Court Decision on Law Governing Arbitration Agreement

By Andrés De La Cruz, Juan G. Giráldez, Carmine D. Boccuzzi Jr., Jared Gerber & Manuel Silva

November 24, 2020

In an important decision for arbitration users, the U.K. Supreme Court has clarified how English law will determine the governing law of an arbitration agreement which provides for an English seat in the absence of an express choice of law. In its 9 October 2020 decision in Enka Insaat Ve Sanayi AS v OOO “Insurance Company Chubb” & Ors [2020] UKSC 38, the Supreme Court reaches the same outcome as the Court of Appeal, while…

The CLS Blue Sky Blog

Latham & Watkins Discusses Department of Labor Rule on ESG Investing

By Paul A. Davies, Nicola Higgs, Kristina S. Wyatt & Deric Behar

November 23, 2020

On October 30, 2020, the US Department of Labor (DOL) published Financial Factors in Selecting Plan Investments (the Rule) and a related Fact Sheet, a codification of the spirit, if not the exact words, of a controversial proposal issued by the DOL in June 2020 (the Proposal). The Rule adopts amendments to certain provisions of the “investment duties” regulation under Title I of the Employee Retirement Income Security Act of 1974, as amended (ERISA),…

The CLS Blue Sky Blog

Enforcement Against the Biggest Banks

By David Zaring

November 23, 2020

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My article, Enforcement Against the Biggest Banks, takes a census of the hundreds of enforcement actions by American regulators against the world’s largest banks between the passage of Dodd-Frank in July 2010 and December 31, 2016, near the end of the Obama administration. The effort allows us to characterize the nature of contemporary American bank enforcement. Enforcement against big banks can be “cumulative” – increasingly, multiple agencies penalize banks for the same misconduct. One…

Legal Skills Prof Blog

Second Edition of "Developing Your Professional Identity"

By Legal Skills Prof

November 22, 2020

I have just issued the second edition of my book Developing Your Professional Identity: Creating Your Inner Lawyer. The second edition includes a new chapter on behavioral legal ethics, and it reflects the latest scholarship on professional identity development since……

Legal Skills Prof Blog

FIU Scores No. 1 on The Florida Bar, Again

By Legal Skills Prof

November 21, 2020

Everyone knows that the administration of the Florida bar exam was a disaster this year. Because of this, it was hard to predict what the results would be. Well, they were pretty bad, but they were about the same as……

Law School Blogs

Debunking Fintech Inside and Outside the Blockchain

Is Stakeholder Value an Excuse for Underperfoming Managers?

Financial Regulators Offer Update on Audit Quality in Emerging Markets

Young Professional Perspective – Thoughts on How Our Professional Lives and Looks Are Affected By Social Media

Crypto-Enforcement Around the World

Cleary Gottlieb Discusses UK Supreme Court Decision on Law Governing Arbitration Agreement

Latham & Watkins Discusses Department of Labor Rule on ESG Investing

Enforcement Against the Biggest Banks

Second Edition of "Developing Your Professional Identity"

FIU Scores No. 1 on The Florida Bar, Again

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