The Trouble with Tibble: Environmental, Social, and Governance (ESG) and Fiduciary Duty

Introduction The aggressive expansion of Environmental, Social, and Governance (ESG) factors in financial investments over the past decade has challenged prior concepts of corporate responsibility. A conflict has developed amongst lawmakers and advocates over the responsibility of corporate directors and fund managers relating to ESG, most notably, whether implementing ESG is a breach of fiduciary … Continue reading The Trouble with Tibble: Environmental, Social, and Governance (ESG) and Fiduciary Duty

Commodity Futures Trading Commission: The Correct Regulator for the Virtual Currency Spot Market

I.         Introduction TerraUSD, an algorithmic stablecoin, succumbed to a ‘death spiral’ when it de-pegged from its $1 (‘USD’) value.This death spiral sparked a market-wide virtual currency sell-off, wiping out $60 billion from crypto markets. The algorithmic stablecoins (‘altcoins’) demise highlights the need for a regulatory overseer of virtual currency spot markets. The two most likely regulators, the CFTC and SEC, take distinctly different approaches to the regulation of capital and commodities markets, … Continue reading Commodity Futures Trading Commission: The Correct Regulator for the Virtual Currency Spot Market

Regulatory Uncertainty and Business Impact of the Executive Orders Against Investment in Chinese Companies

The main provision of the Executive Orders (EO 13959 by President Trump issued in November 2020, as replaced by EO 14032 by President Biden issued in June 2021) prohibits US persons from engaging in “the purchase or sale of any publicly traded securities, or any publicly traded securities that are derivative of such securities or are designed to provide … Continue reading Regulatory Uncertainty and Business Impact of the Executive Orders Against Investment in Chinese Companies

The Supreme Court As A Systemic Risk

Financial regulators should begin planning now for the risk that the post-Trump era Supreme Court could eventually trigger a financial crisis. We often think of systemic risk as coming from war, plagues, or other disruptive events causing problems to cascade through the financial system. In Supreme Risk, an article forthcoming in the Florida Law Review, I explain … Continue reading The Supreme Court As A Systemic Risk

Regulating Stablecoins as Glass-Steagall Deposits and Consequences for Money Market Funds

In November 2021, the President’s Working Group on Financial Markets, in partnership with the Comptroller of the Currency and the Federal Deposit Insurance Corporation, released its long-awaited report on stablecoins attempting to outline the risks posed by these digital assets and propose next steps for financial regulators. Although its main recommendation called for new legislation … Continue reading Regulating Stablecoins as Glass-Steagall Deposits and Consequences for Money Market Funds

The Hedge Fund Activism of Engine No. 1

On the eightieth anniversary of the attack on Pearl Harbor, December 7, 2021, Engine No. 1 stormed into the world of shareholder activism with its letter announcing to the board of directors of ExxonMobil that it was ready to engage the board in a proxy contest. Engine No. 1’s activism was considered extremely successful. “Despite having only $40 … Continue reading The Hedge Fund Activism of Engine No. 1

The President as CEO: Executive Privilege and Corporate Law

On January 6, 2021, a violent mob attacked the U.S. Capitol after being told by then-President Donald Trump that the election had been "rigged" against him and that he had actually won "by a landslide." The mob rampaged through the Capitol building, leaving several dead, injuring over a hundred people, and causing millions of dollars of … Continue reading The President as CEO: Executive Privilege and Corporate Law

The Wireless Investors Movement

The UChiBLR Editorial Board is delighted to present our inaugural article by guest academics. As Web3 promises to reestablish the role of individuality online, tech savvy investors are set to cause an unprecedented paradigm shift in corporate governance. The paradigm shift is rooted in the weltanschauung of Gen Z and millennial investors who use technology and online … Continue reading The Wireless Investors Movement