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Investment Management Regulation, 5th ed.
No full textInvestment companies and investment advisory services have become a significant part of the financial system. They host and manage most of the retirement assets in this country and have spread their services abroad as well. This case book is designed to prepare students to practice in this area, including sensitizing students to the possible changes in money management and the legal adjustments to these changes.
This book deals with the laws governing investment companies: their creation, structure, corporate governance, operations (including the distribution of shares and the management of the portfolios) and dissolution. In particular, this case book focuses on new structures that have evolved in this area, such as ETFs and money market funds.
The purpose of this book is to prepare students, and lawyers who are not familiar with the subject area, to provide effective advice. In addition, it focuses on practicing in this area before the Securities and Exchange Commission.https://scholarship.law.bu.edu/books/1016/thumbnail.jp
The Women of the Wall: A Metaphor for National and Religious Identity
Get PDFThe Women of the Wall wish to participate in communal prayer in the women’s section of the Western Wall in Jerusalem. Their practice is to pray as a group, wrap themselves in a tallit, and read from the Torah scroll. They represent Jewish pluralism in that their group includes Orthodox, Conservative, Reform and secular women. They represent openness to change in that they base their claims on Halakhic interpretation, thereby embracing the capacity of Jewish law to evolve. This article reviews the resistance of the religious and political establishment in Israel to their claim and their struggle, unsuccessful so far, to get recognition
The Intersection of Civil and Religious Family Law in the U.S. Constitutional Order: A Mild Legal Pluralism
Get PDFThis chapter considers how civil and religious family law intersect in the U.S. legal system and how U.S. constitutional law shapes and constrains the accommodation of religious pluralism as it pertains to family law. To the question, “Is there too much or too little pluralism in U.S. family law?,” I answer that family law appropriately embraces a mild legal pluralism, while clearly distinguishing between civil and religious marriage. After illustrating this distinction in the context of the recent controversy over same-sex marriage, I consider two categories of cases: (1) cases in which courts consider whether to enforce terms of Jewish and Islamic religious marriage contracts, divorce agreements, or arbitration agreements, and (2) cases in which courts decide whether the principle of comity requires them to recognize foreign marriages and judgments of divorce. These cases highlight that U.S. family law generally accommodates religious pluralism, subject to constitutional norms and public policy. However, the recent enactment of state bans on the application of foreign law (so-called “anti-sharia laws”) reflects a misunderstanding – if not rejection – of this mild pluralism. Concerns over the equality of women in matters of religious family law feature in calls for such ban, particularly in a third category of cases involving religion: highly-publicized attempts to assert religious beliefs about family roles as a defense against public laws prohibiting domestic violence and sexual assault (i.e., “my religion made me do it”). Case law shows such appeals to religion do not trump the protective policies of civil and criminal law
Equality of Arms in Arbitration: Cost and Benefits
Get PDFDepending on context and content, a regulatory framework can either help or hinder efforts to enhance aggregate social and economic welfare. Lively debate has arisen with respect to the net effects of two recent sets of directives for lawyer comportment in cross-border arbitration, the first being Guidelines adopted by the International Bar Association, the second contained in new arbitration rules promulgated by the London Court of International Arbitration. Each instrument aims to promote a more level playing field on matters where legal cultures differ, such as document production and counsel independence. Each has caused thoughtful commentators to question the need of such standards, some suggesting unintended consequences including increased opportunities to sabotage proceedings. For now, suspense surrounds the prospect that either set of provisions will find favor in the international community. Only time will tell
Gaps and Changed Circumstances in Energy Contracts: The Devil in the Detail
Get PDFEnergy contracts have long been vexed by questions about the role of gap filling by arbitrators and judges, along with the effect of changed circumstance on the parties’ obligations. Each challenge continues to resist facile analysis as differing legal standards interact with subtleties of contract language and factual matrixes. In the face of these challenges, arbitrators must seek a delicate equilibrium between legitimate respect for bargains and an equally legitimate recognition of expectations that genuine gaps be filled and dramatically changed circumstances receive appropriate consideration. In aiming for counterpoise, common sense normally pays greater dividends than ideology or dogmatism
An Empirical Perspective on Medicaid as Social Insurance
Get PDFThis paper is a contribution to the symposium entitled Scalpel to Gavel: Exploring the Modern State of Health Law. This essay quantifies and explores the central role Medicaid now plays in our health insurance system. For its first forty-nine years, Medicaid covered less than half of the nation’s poor. Today, one in five Americans have Medicaid coverage during the course of a year, and that number soon will increase to one in four given the insurance expansions enacted through the Patient Protection and Affordable Care Act. Medicaid now effectively functions as social insurance for many of its enrollees. In this essay, we begin to explore howMedicaid, after the ACA, metamorphoses from exclusion and limitations in access and benefits to a form ofsocial insurance that implicates theories of social justice. The social justice aspect of universality provides an important lens for understanding the numbers, both in terms of the states that are expanding and the states that so far are opting out. States that refuse to expand their Medicaid programs are denying millions of Americans the benefit of a precious legal entitlement. It is essential that states understand the power — and the potential — of this evolving social program and its new found status as a vehicle of social insurance
A Problem Not Yet Manifest: Gaps in Insurance Coverage of Medical Interventions After Genetic Testing
Get PDFIn the past decade, the field of genomics has rapidly changed and expanded.1 With these advancements also come new applications of genomics and genetics to clinical medicine. The information gathered from genetic testing and genome sequencing can reveal a great deal about not only an individual\u27s current health, but his/her future health as well.2 This rapid expansion of scientific and medical capacity is accompanied by rapid changes for law and policy making thoughtful regulation essential. The human genome includes many variations, most of which have no known significance. However, some variants can be the cause of important medical conditions, and for a subset of these, there are useful healthcare interventions, which can be deployed if the genetic variation is recognized. Sometimes, these genetic variations are the specific target of a genetic test. Sometimes, the variations are found incidentally, in a genetic test performed for other purposes, such as pharmacogenomics or preconception screening.3 In 2013, the American College of Genetic Medicine (ACMG) released recommendations specifying which of these incidental findings should be given to clinicians.4 The ACMG limited its recommendation to 56 genetic variations, which can result in approximately 24 genetic conditions. Most of these genetic conditions are very rare, with many of the available treatments limited to continued monitoring and increased surveillance for changes in symptomology and/or disease progression.5 Anya E.R. Prince discusses these issues in her article, ‘Prevention for those who can pay: insurance reimbursement of genetic-based preventive interventions in the liminal state between health and disease.’6 Prince worries that while many health insurance companies offer coverage for genetic testing, fewer offer coverage for prophylactic measures and treatments for the conditions said testing might reveal. Lack of such coverage would undermine the policy goals that motivated insurance coverage mandates in the first place, and may perpetuate health disparities. We advance Prince\u27s analysis of this issue by exploring actual coverage in the private health insurance market, which covers 64 per cent of Americans.7 In particular, we analyse the coverage of two genetic conditions—BRCA and catecholaminergic polymorphic ventricular tachycardia (CPVT)—by reviewing policy documents of commercial health insurance companies, including Cigna, Aetna, Blue Cross Blue Shield, and United Health One. We find that, while genetic testing and consequent treatment is not universally covered, many companies do offer a broad scope of coverage in this area. Prince argues that the Affordable Care Act (ACA) and ACMG tout preventative measures without considering the impact the information can have on individuals who are unable to afford the preventative next steps
The Moral Reading All Down the Line
Get PDFMichael W. McConnell has written an elegant and illuminating article about constitutional interpretation.\u27 He seeks to show how five major methodological approaches fit together. The five approaches he discusses are: originalism, precedent, longstanding practice, judicial restraint, and living constitutionalism (here called the normative approach). \u272 He distinguishes two camps with respect to these approaches. One camp, he notes, advocates for (or against) a particular approach ... on the assumption that these approaches are mutually inconsistent and that the task is to determine which is best . . . .3 The other camp treats the various common approaches as mere tools in the lawyerly toolbox.
Leave the cheaters in peace: If you poke around the Ashley Madison data, you\u27re aiding and abetting the hackers
No full textWhen a person\u27s confidential data is exposed in violation of a legitimate expectation of privacy, it shouldn\u27t matter whether that person is a saint or a sinner. A privacy invasion is a privacy invasion — and we must rise to defend the victims, whether we like them or not.
Last week, a group of hackers calling themselves the Impact Team made good on last month\u27s threat to leak the account information of over 32 million members of Avid Life Media\u27s (ALM) online dating service for married people, Ashley Madison