SEC
How Loper Bright and the End to the Chevron Doctrine Impact the SEC
James Tierney finds that Loper Bright, the latest ruling in a rash of Supreme Court cases undermining the Securities and Exchange Commission’s authority, will limit the agency’s intervention in the market and produce uncertainty for businesses as they guess which rules will survive the judicial review.
Reconsidering George Stigler v. Milton Cohen and the SEC’s Special Study
Summary Teaser: Howell E. Jackson revisits George Stigler’s famous 1964 critique of the Securities and Exchange Commission and particularly his critique of the work of SEC lawyer Milton Cohen, who headed the SEC’s Special Study of Securities Markets in the early 1960s. Although time has validated Cohen’s intuitions regarding the value of expanding SEC oversight into over-the-counter markets, Stigler’s call for more careful economic analysis supported by robust empirical justification has heavily influenced how the SEC and other financial regulators stive to operate today.
George Stigler Was Wrong About the SEC, But Asked the Right Questions
Joel Seligman's article examines the historical debate surrounding the Securities and Exchange Commission's mandatory corporate disclosure system, focusing on George Stigler's influential 1964 critique and subsequent discussions. While acknowledging Stigler's role in sparking important questions about regulatory necessity, Seligman argues that critics often underestimated the historical evidence of securities fraud and the need for public market confidence, ultimately defending the continued relevance of mandated disclosure in securities regulation.
Will “Portfolio Primacy” Throw a Monkey Wrench in Elon Musk’s Plans to Acquire Twitter?
The SEC's definition of fiduciary duty allows institutional shareholders to vote against Elon Musk's Twitter takeover bid thanks to portfolio primacy.
Is the Musk...
The Non-Revolving Door Between the SEC and the Plaintiffs’ Bar
Nowhere does the “revolving door” spin more quickly than at the Securities and Exchange Commission. But, even at the SEC, not all doors spin...
It is Not Just Small Investors Who Will Be Silenced Thanks to SEC’s New Rules
Shareholder proposals are one of the most effective forms of shareholder voice in corporate America. It is one of the main channels through which...
Should Whistleblower Reward Laws be Capped?
The SEC is expected to approve a proposed rule change that could limit the amount of awards paid to whistleblowers, despite evidence that shows...
How to Restart the Economy and Save Lives: Simulations on Northern Italy
Italian officials have to choose the optimal strategy to end the lockdown. A policy that sends all the active population back to work avoids...
Constitutional Limits to Independent Agencies and Central Banks: A Mini-Course With Paul Tucker (Part 2)
The Federal Reserve and the ECB have been taking unprecedented steps to react to the financial impact of Covid-19. To frame the debate around the...
“Monetary Awards Are Not the Only Reason Why Whistleblowers Report Corporate Malpractice”
At the SEC, Jordan Thomas had a leadership role in developing the program to protect and reward employees who report corporate wrongdoing. Now, he is...
