Title II of Dodd-Frank empowers the Treasury to appoint a receiver to a state-chartered non-bank financial company — a power traditionally vested in the judiciary — with little or no judicial involvement. This Article argues that granting such power to the Treasury violates Article III of...

Short selling has long been regarded as aggressive speculation that destabilizes financial markets, raising concerns about their moral foundations. This view gathered unstoppable force in September 2008 when short sales were seen as the principal cause of precipitous falls in the market price of...

The article discusses the issue of the existence of several legal barriers in the process of clearing and settlement of cross-border securities transactions within the European Union. A prerequisite for such ana analysis is the understanding of the nature, scope, objectives and structure of...

With the tightening of U.S. securities regulation as part of the Sarbanes-Oxley Act, the United Kingdom's more liberal laws have resulted in London surpassing New York as the world's financial capital. This paper examines how that came about, and asks whether it is a permanent condition, just as...

National and international lawmakers are increasingly focusing on sustainability reporting as a way to foster socially and environmentally responsible corporate conduct. Within the European Union, Directive 2014/95/EU has introduced reporting obligations for certain large enterprises on a...

This Article examines how and why regulating FinTech is different. This question relates to the ongoing debate of whether FinTech is simply “more of the same”—primarily exacerbating existing failures and challenges and hence not requiring new regulations—or a radical transformation that...

We extend our prior work on how both supply (including the emergence of OTC equity derivatives and growth in share lending) and demand (including the growth of hedge funds) factors now facilitate the large-scale, low-cost decoupling of shareholder voting rights from shareholder economic...

The paper provides an overview of the status of corporate and financial law making in Germany in 2007 and examines the driving forces behind current reforms. It also considers amendments to tax and accounting law that are related to corporate and financial law. The authors provide brief comments...

This is a summary, practitioner-oriented article which summarizes our research on debt and hybrid decoupling. Equity decoupling refers to the unbundling of the rights and obligations normally associated with shares. Debt decoupling refers to the unbundling of the economic and governance rights...