Format:
1 Online-Ressource (385 Seiten)
ISBN:
9780197665930
Content:
This comprehensive history of modern US securities law illustrates the key jurisprudential changes at the Supreme Court since the New Deal. The authors use the justices' internal memos, notes, and preliminary drafts to tell the story of how they actually decided the cases. The securities laws were an ambitious expansion of the administrative state. That expansion required a transformation of the Court's approach to business regulation, abandoning the Court's prior hostility to government intervention
Note:
Description based on publisher supplied metadata and other sources
,
Cover -- Half-title -- Title -- Copyright -- Dedication -- Contents -- Introduction: The Administrative State and Capitalism -- A. Felix Frankfurter and the Rise of the Administrative State -- B. Lewis F. Powell, Jr., and the "War against Capitalism" -- C. The Arc of Securities Law in the Supreme Court -- 1. The Triumph of the Administrative State -- 2. The Era of Deference -- 3. An Activist Court -- 4. Lewis Powell and the Counterrevolution -- 5. A Random Walk -- D. Roadmap of the Book -- 1. The Coming of the New Deal -- A. The Enactment of the Federal Securities Laws -- 1. The Securities Act of 1933 -- 2. The Securities Exchange Act of 1934 -- 3. The Public Utility Holding Company Act of 1935 (PUHCA) -- 4. Roosevelt's Second Term -- B. A Hostile Judicial Reception -- 2. Social Control of Finance -- A. Securities Regulation and Taming Big Business -- 1. William O. Douglas and Social Control of Finance -- 2. Douglas at the SEC -- B. Breaking Up Utility Empires: The Public Utility Holding Company Act of 1935 -- 1. The PUHCA Wars -- 2. Breaking Up the Holding Companies: A Judicial New Deal -- C. Reorganizations of Distressed Firms: The Chandler Act of 1938 -- 1. The SEC's Role in Bankruptcy -- 2. Bankruptcy and Insider Trading -- D. Retiring the SEC's Control -- 3. Policing the SEC -- A. A Progressive Reset? -- B. Chenery I & -- II: The Roosevelt Court Divides -- C. Judicial Review of SEC Procedures -- D. The Skeptical Era -- E. The Post-Powell Period -- F. Conclusion -- 4. Boundaries -- A. The Early Period through the 1960s -- 1. Deference to the Agency's Inclusive Definition of a Security -- 2. A Glimmer of Doubt? -- B. Reining In the SEC and the Securities Laws -- 1. Restrictive Holdings of the Definition of a Security -- 2. Parallel Questions in the Definitions of "Sale" and "Pledge"
,
3. Some Ambiguity in the Restrictive Approach to the Definition of Security -- 4. The Post-Powell Period: Tension Persists -- C. Antitrust and the Securities Laws -- D. Constitutional and Geographic Boundaries -- E. Whither Boundaries? -- 5. Insider Trading -- A. Early Prohibitions Based on Fraud and the 16(b) Alternative -- B. The Swinging Sixties for Insider Trading Law -- 1. Bill Cary Triggers the Revolution in Cady, Roberts -- 2. Blau v. Lehman: The SEC's Unsuccessful Effort to Expand 16(b) -- 3. Capital Gains Research Bureau: A Foothold for Fiduciary Duty -- 4. Texas Gulf Sulphur: The Spirit of Capital Gains Takes Hold in the Second Circuit -- 5. Affiliated Ute: A Purposivist Approach in Rule 10b-5 -- C. Lewis Powell Closes the Door -- 1. Section 16(b) and the Transition to Textualism -- 2. Chiarella: Fiduciary Duty Confined -- 3. Dirks: Tipping and Personal Benefit -- D. The Post-Powell Period: Misappropriation and Tipping Revisited -- 6. Private Litigation -- A. A Modest Beginning -- B. Implied Private Rights of Action Unleashed -- C. Lewis Powell and the Counterrevolution -- 1. Class Actions -- 2. Construing Rule 10b-5 Narrowly -- 3. Rolling Back Implied Rights of Action -- D. Filling Out the Elements of Explicit Private Rights of Action -- E. Arbitration and the Securities Laws -- F. Implied Rights after the Counterrevolution -- 1. The Immediate Aftermath: Ping Pong -- 2. The Impact of the PSLRA -- 3. Summing Up -- 7. The Federal/State Flashpoint in Corporate Governance -- A. Fiduciary Misbehavior and the Genesis of Federal Corporate Law -- B. The Supreme Court Curtails Federal Corporate Law -- C. Investment Companies -- D. The Takeover Wars and Federalism -- 1. Implied Private Rights Under Federal Tender Offer Statutes -- 2. Preemption or Commerce Clause Challenges to State Anti-Takeover Laws -- E. Post-1987, Post-Powell Drift
,
F. Conclusion -- 8. Conclusion: How the Supreme Court Makes Securities Laws -- A. The Tale of the Numbers -- B. A Reliable Court -- C. The Puzzle of Frankfurter and Douglas -- D. A Purposive Court -- E. A Skeptical Court and an Influential Justice -- F. A Random Walk -- G. A Final Word -- Notes on Sources -- Appendix: Supreme Court Securities Cases, 1933-2021 -- Notes -- Index
Additional Edition:
Erscheint auch als Druck-Ausgabe Pritchard, A. C. A History of Securities Law in the Supreme Court Oxford : Oxford University Press, Incorporated,c2023 ISBN 9780197665916
Language:
English
Bookmarklink