Given the importance of sound advice in retail financial markets and the fact that financial institutions outsource their advice services, how should consumer protection law be set to maximize social welfare? We address this question by posing a theoretical model of retail markets in which a...

This article assesses the operation of the Financial Collateral Arrangements (No.2) Regulations 2003 (FCAR), as amended by the Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010. It will be seen that the FCAR has achieved...

Theory can have profound effects on practice, some intended and desirable, others unintended and undesirable. That's the story of the influence the field of law and economics has had on the domain of law and accounting. That influence comes primarily from agency theory and modern finance theory,...

This article covers the scope of revised Article 9, attachment, choice of law for perfection, effect of perfection, priority, perfection by filing, perfection outside Article 9 for goods covered by certificates of title, perfection by possession, perfection by control and automatic perfection

This case study analyzes the reasons for failures by Credit Suisse banking advisors prior to the recent financial crisis and attempts to develop a strategy for international law that will dis-incentivize advisors from failing, thereby averting consumer losses in the future.The paper does not...

The New Romanian Civil Code came into force on 1 October 2011. It regulates for the first time fiducia, a mechanism similar to some extent to the common law concept of trust. Fiducia is the legal relationship by which one or more settlers transfer present or future rights to one or more...

This article provides the reader with an overview on the perfection of security interest in personal property in the context of the Civil Code entered into force in Romania on 1 October 2011. The article is structured so as to briefly point out the most important modifications of the legal...

Currently trademark bullying has become a serious concern for many small businesses that feel as though powerful corporations are abusing aggressive trademark enforcement and litigation techniques to crush genuine competition. No doubt these concerns merit the serious consideration of all...

Fiduciary remedies are notoriously potent. Fiduciaries who profit from their disloyalty are liable to be ordered to disgorge all of their gains. It is widely understood that disgorgement deters disloyalty by threatening removal of gains, the prospect of which might incentivize wrongdoing....

In the bank-borrower setting, a firm's existing lender may exploit its positional advantage to extract rents from the firm in subsequent financings. Analogously, a startup's existing venture capital investors (VCs) may dilute the founder through a follow-on financing from these same VCs (an...