Showing results for: “digital markets act”
Paths to competitiveness: more spending vs. better laws
As Steve Bainbridge recently noted: Obama said . . . that making the U.S. more competitive means investing in a more educated work force, committing more to research and technology, and improving everything from highways and airports to high-speed Internet. He observes that a better way to increase U.S. competitiveness is by changing the law ... Paths to competitiveness: more spending vs. better laws
The SEC recommends broker-dealer fiduciary duties
The SEC staff, acting under Dodd-Frank §913(g), has decided to recommend a “uniform fiduciary standard” for broker-dealers and investment advisors who provide investment advice to retail customers. The recommended rules would provide that the standard of conduct for all brokers, dealers, and investment advisers, when providing personalized investment advice about securities to retail customers (and ... The SEC recommends broker-dealer fiduciary duties
More on the First Amendment and proxy access
The ramifications of the Supreme Court’s decision in Citizens United promise to play out for quite awhile, particularly including its effect on corporate governance. For example, will corporate decision-making that produces corporate speech be exempt from the First Amendment? And how does the First Amendment apply to securities law limitations on what corporations can say ... More on the First Amendment and proxy access
The Relevance of ELS Revisited
Brian Leiter’s recent post, Empirical Legal Studies, Redux, summarizes the blog debate over the growth of empirical legal studies and its implications for legal scholarship. There is not much need to go through history here, but Professor Leiter’s recent post gets pretty quickly to the point, i.e. Professor Eisenberg’s response to Leiter’s would be-claim that ... The Relevance of ELS Revisited
FCC Approves Comcast-NBC Merger With Conditions
While the FCC has announced its approval of the Comcast-NBC deal, The problem of overlapping agency review of mergers arises once again. We’ve discussed previously the costs of FCC merger view, and in particular, the issues of delay and imposition of conditions unrelated to the merger. The FCC review of the Comcast-NBC deal appears to ... FCC Approves Comcast-NBC Merger With Conditions
Jonathan Macey for SEC Commissioner
In a must-read op-ed in today’s Wall Street Journal, Yale Law’s Jonathan Macey weighs in on Goldman Sachs’s decision to allow only foreign gazillionaires — no Americans, regardless of their wealth or sophistication — to invest in new shares of Facebook. Numerous observers have portrayed Goldman’s move as a “victory for the SEC.” The New York Times‘ ... Jonathan Macey for SEC Commissioner
Goldman and the problem with incentive compensation
We have heard a lot about the need to give investment bankers skin in the game to constrain the kinds of counterproductive risk-taking that led to the meltdown. The NYT describes a firm that has been doing that — Goldman Sachs. Unlike other Wall Street firms, Goldman retained a partnership system when it became a ... Goldman and the problem with incentive compensation
Please Stop Calling RPM Price-Fixing, Part 3
The next installment in a seemingly never-ending series (see here for earlier offenders). This time, its the California Attorney General Kamala Harris in a press release announcing a settlement with Bioelements, Inc., a Colorado-based company which sells skin care products in salons and online. The relevant allegation, from the Complaint (Para. 10) is the following: ... Please Stop Calling RPM Price-Fixing, Part 3
Lawsuit loans
Last week I discussed my new paper with Kobayashi, Law’s Information Revolution, which discusses how law’s traditional business of lawyers conveying legal expertise via advice to individual clients “is being challenged by the sale of legal information to impersonal product and capital markets.” Today’s NYT discusses an aspect of this market — advancing money to ... Lawsuit loans
The FTC and the Internet
I will be discussing the titular topic at a Federalist Society panel (sponsored by the NY City Lawyers Chapter) along with Richard Epstein (NYU Law) and Jonathan Baker (Chief Economist, FCC) Tuesday night at the Cornell Club. Registration details are available at the link above. Here is the event description: The Federal Trade Commission is ... The FTC and the Internet
The real Facebook story
I originally wrote about “The Social Network” before having seen it, led by a Gordon Crovitz WSJ story quoting a Larry Lessig TNR review into thinking that Zuckerberg was the villain, and concluding that this was just another movie, like so many others I’ve discussed, in which Hollywood’s view of business is shaped by the ... The real Facebook story
Planet Money on Kittens, Keynes, and the Stock Market
Prompted by this post at Cafe Hayek, I recently participated in a web experiment sponsored by NPR’s Planet Money. I was asked to watch three short animal videos and vote for the animal I found cutest. The videos were all pretty cute. One featured a polar bear cub sliding along the ice with its mother. Another featured a loris ... Planet Money on Kittens, Keynes, and the Stock Market
