Tag Archives: Regulation

Legal Hurdles for Holding Compliance Gatekeepers Accountable  

By | September 7, 2023

There is a consensus that compliance is a critical issue in corporate governance. Yet there remains a gaping hole in our understanding of what determines the effectiveness of compliance programs. Specifically, we know relatively little about the role of third-party compliance advisors.   Nowadays, virtually every large law firm or accounting firm sells various “compliance… Read More »

Cybercrime on the Ethereum Blockchain 

By | September 6, 2023

While Bitcoin is still the largest cryptocurrency in the world by market capitalization, the Ethereum blockchain maintains the unique ability to tokenize assets and execute smart contracts. These benefits for businesses and investors also come with additional opportunities for cybercriminals, such as when a company simply runs away with the money after tokenizing its assets. … Read More »

The Rise and Fall, and Possible Rise Again, of the Use of Infringement Notices by the Australian Securities and Investments Commission 

By | September 5, 2023

Australia’s corporate and securities regulator, the Australian Securities and Investments Commission (ASIC), has extensive enforcement powers that it can use to ensure compliance with the law. One of these is the power to issue infringement notices. An infringement notice is an administrative mechanism that ASIC can use as a response to misconduct. It is issued… Read More »

The UBS-Credit Suisse Merger: Helvetia’s Gift

By | August 14, 2023

The March 2023 bank run on Credit Suisse (CS) has received much attention. As a result of this bank run, the Swiss banking regulator (FINMA) pushed for the merger of CS with UBS, another large Swiss bank, thus creating one of the biggest banking unions in history. The demise of CS shook faith in a… Read More »

A Recurrence of Financial Distress for Borrowers with Student Loans 

By | August 11, 2023

In the world of student loans, things look grim. Borrowers owe an estimated $1.6 trillion in student loans—a figure which is second only to mortgage debt in the total amount of consumer debt attributed to Americans. Student loan borrower were hopeful that the Biden administration—which promised to provide up to $20,000 in relief for student… Read More »

In the Battle for Financial Privacy, Whose Voice will Count? 

By | August 9, 2023

In the lead-up to the debate about the Data Privacy Act of 2023, Financial Services Committee members received letters from consumer groups and finance trade associations, urging them to vote for or against the contentious legislation.  The Data Privacy Act of 2023 garnered opposition from consumer advocacy groups and support from finance trade associations. The… Read More »

Patience is Key: The Time it Takes to See Benefits from Continuous Auditing 

By | August 6, 2023

Continuous auditing (CA) was introduced decades ago to enhance the quality of assurance by continuously and automatically analyzing data running through a corporate system based on rules defined by internal auditors. As CA is designed to provide more feedback on deviations and more timely feedback compared to traditional auditing, it is expected to enhance monitoring.… Read More »

The Law of Creditors, Debtors, and Redeemers

By | July 24, 2023

Even before law school, I became fascinated by what is sometimes called the “law of creditors and debtors.” This cat-and-mouse game between creditors and the people who owe them money was intellectually stimulating—and, I realized, terribly important. Even though the first year of law school focuses on liability, debt collection becomes all-important when judgment debtors… Read More »

Does the Financial Experience of SEC Regional Directors Impact SEC Investigations? 

By | July 4, 2023

The Securities and Exchange Commission (SEC) is the primary securities regulator for U.S. public companies, so its oversight effectiveness is critical for well-functioning capital markets. However, the regulator’s Division of Enforcement, which handles the investigation and prosecution of possible securities violations, has frequently been criticized and characterized as ineffective by the media, congressional members, and… Read More »

Board’s Digital Oversight and Expertise: Some Initial Findings Using NLP Methods 

By | June 29, 2023

In today’s rapidly changing business landscape, new technologies have become essential. The digital revolution, built on data-driven innovations, has permanently shifted how businesses collect, analyze, and utilize information. This transformation comes with significant challenges. As companies navigate the digital landscape, they must address cybersecurity, privacy, and ethical considerations alongside legal requirements.   In our recent paper,… Read More »