“Regulatory sandboxes” have become almost as ubiquitous as “FinTech” or “block-chains,” but not many fully understand their goal, scope, or application. This article introduces regulatory sandboxes, provides background on their origin and the context in which they are...

In July 2017, U.S. Congressional Democratic leadership released a policy plank entitled “Better Deal” in which they proposed a radical reinvention of antitrust law. As a partisan blueprint for a populist political agenda, the Better Deal may have some appeal, but most...

Introduction

The long-lasting debate of whether or not Hong Kong should allow new listing applicants to adopt weighted voting rights structures (“WVR Structures” or “Dual-Class Capital Structures,” allowing companies to issue classes of shares carrying disproportionate...

High Frequency Trading and How It Relates to Insider Trading

High Frequency Trading (HFT) has gained a foothold in financial markets and has been making front-page news since the events of May 6, 2010, now commonly referred to as the Flash Crash. Significant changes in...

The use of technology has changed the structure of the equity market and the way investors implement their trading strategies. Several issues related to the use of technology, however, have shed light on significant limits in the Securities and Exchange Commission’s (“...

Etymology and Definition

Aileen Lee, a venture capitalist, is the person who named the extremely rare and unique startups valued at over one billion dollars “Unicorns.” In 2013, Lee came up with a list of 39 US-based software companies founded in 2003 or later that were...

In the last few years, blockchain emerged as a disruptive technology. Blockchain is a distributed database, capable of holding a secure and immutable record of past transactions, quickly adaptable to a broad range of activities and objectives. Initial Coin Offerings (I...

In 2008, the $60 billion Reserve Primary Fund, the oldest money market fund in the United States, broke the buck – net asset value (NAV) dropped below $1 per share. This drop in NAV was caused by the bankruptcy of Lehman Brothers, in which the Reserve Primary Fund had...

International market participants’ behavior towards transparency and accountability has changed dramatically due to several recent developments: the globalization of business transactions, the tougher stances on bribery and corruption taken by governments, internationa...

Class actions present an agency problem between class representatives/attorneys and the class members. The representatives’ interests might compete with those of the absent class members, and so the former may bind the latter to a litigation process or outcome which fa...