Insider trading: The words alone evoke conflicting feelings of jealousy and greed. But what is wrong with insider trading? Nothing. In fact, insider trading is good for the economy. Insider trading results in an efficient allocation of capital and thus makes the world wealthier

This article contends that there are strong historical and economic arguments in favor of limited liability for corporate shareholders that arise from the federal structure in the United States. Limited liability is an important tool for minimizing extraterritorial regulation. It allows each...

Directors and supervisory board members (officers) are increasingly being held personally liable. Directors & Officers (D&O) liability insurance offers directors and supervisory board members ample protection against directors' and officers' liability. On the one hand, this has many advantages...

This chapter in the forthcoming Oxford Handbook of Fiduciary Law provides synthetic analysis of the law on fiduciary relationships, focusing on the identification of fiduciary relationships and fiduciary relationship formation and termination. The chapter discusses status- and fact-based methods...

This essay highlights and pays tribute to Justice Thomas Cromwell’s contributions to Canadian fiduciary jurisprudence on the occasion of his retirement from the Supreme Court of Canada. The essay situates these contributions in the context of points of uncertainty in the Court’s earlier...

This Article defines a new way of thinking about adjudication. American procedural theory encompasses three familiar models of adjudication: the traditional adversary system model; a model of public law litigation that describes large civil rights cases; and a model of managerial judging that...

Economists who study the theory of the firm strive to draw a line between firms and markets. This line corresponds to the line lawyers draw between fiduciary and nonfiduciary relationships. The Critical Resource Theory (“CRT”) of fiduciary relationships is motivated by the property-rights...

This paper discusses different means of regulation, taking the example of post-crisis financial markets regulation. It is remarkable that the general discussion about reforming financial regulation centres on the substantive standards of the new rules and neglects the problem of choosing the...

The law affects our behavior not only directly by imposing legal sanctions, but also indirectly, by providing information that shapes the reputations of individuals and organizations. This Article is the first to fully flesh out the reputation-shaping aspects of the law.The Article's first major...

Cryptocurrencies have entered the economy as alternative money, as speculation objects, and as utility tokens for innovative service-platforms. Predictions are numerous. While some predict that their value will skyrocket, others predict their collapse. Some predict them to completely transform...