This "white paper," written for the Roosevelt Institute, looks at the Dodd-Frank Orderly Liquidation Authority, as currently conceived of by regulators. The existence of OLA is crucial to the idea that the Dodd-Frank Act has actually ended "too big to fail." Since financial institutions remain...

This blog post was published in The FinReg Blog (hosted by Duke’s Global FinancialMarkets Center) on September 24, 2020. It provides an overview of my book of the same title,published by Oxford University Press on October 2, 2020.available at...

This essay was published as part of a law review symposium that evaluated my work on theregulation of large, complex financial institutions. Part I of my essay discusses the other articlespublished in the symposium issue and describes their relationship to my own work. Part IIanalyzes the global...

This work is primarily focused on the settlement between the SEC and Goldman Sachs of July 2010 related to the structuring and marketing of a Collateralised Debt Obligation (CDO) known as Abacus 2007-AC1. A thorough discussion of this case leads to analyze the idea of a imposing a fiduciary duty...

This work is primarily focused on the settlement between the SEC and Goldman Sachs of July 2010 related to the structuring and marketing of a Collateralised Debt Obligation (CDO) known as Abacus 2007-AC1. A thorough discussion of this case leads to analyze the idea of a imposing a fiduciary duty...

Crowdfunding remains a bit of an unknown in business finance. Securities crowdfunding, as a subset of that financing market, is no more familiar. Diverse investors and risks make for a complex regulatory puzzle.Investor protection regulation has begun to develop in a path-dependent manner....

It is widely accepted by both practitioners and academics that in modern economies entrepreneurship in general and innovation based entrepreneurship in particular are maybe the most important drivers of economic growth and that economic success is highly correlated with the existence of an...

The growth in numbers of, and of capital managed by, hedge funds as well as their activities have spurred a debate about regulation of hedge funds worldwide. In Germany, however, the discussion focused on the hedge funds' voting behavior and their investment strategies, which is due to the...