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In Jones v. Harris Associates, the Supreme Court interpreted investment advisers' fiduciary duty regarding compensation for services under Section 36(b) of the Investment Company Act of 1940. The Court endorsed an open-ended Second Circuit standard over a more determinate Seventh Circuit test...
Persistent link: https://www.econbiz.de/10013139201
In reaction to the fiscal difficulties experienced by state governments over the past three years, several politicians and academics proposed that Congress legislate a new chapter to the Bankruptcy Code under which the financial obligations of a state may be restructured. This essay is...
Persistent link: https://www.econbiz.de/10013113761
Over the last decade, the Canadian government has not managed to produce a comprehensive climate change statute and has failed to adequately consider the constitutional implications of doing so. The Clean Air Bill, an unsuccessful 2006 amendment to the Canadian Environmental Protection Act...
Persistent link: https://www.econbiz.de/10013117674
Michael Greve's The Upside-Down Constitution is one of the most important works on constitutional federalism in years … traditional view that federalism is really about promoting the interests of state governments. As Greve recognizes, state … cartels and what he considers to be dysfunctional empowerment of state governments. He argues that American federalism has now …
Persistent link: https://www.econbiz.de/10013097052
The federal government has a large and growing presence in state and local policy activities. This rising intervention has been facilitated by “grants-in-aid,” which are programs that combine federal subsidies with topdown regulations to micromanage state and local affairs. A new analysis...
Persistent link: https://www.econbiz.de/10013085525
On April 5, 2012, President Barack Obama signed into law a new federal securities law exemption for crowdfunded securities offerings. Crowdfunding — the use of the Internet to raise small amounts of money from a large number of contributors — has become incredibly popular outside the...
Persistent link: https://www.econbiz.de/10013066060
Kido, Petacchi and Weber [2012] investigate whether the occurrence of a state gubernatorial election is important to understanding the accrual choices of preparers of the state's comprehensive annual financial report. Central to the authors' argument is the idea that voters do not like budget...
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