The External and Internal Causes of SVB’s Collapse and the Role of Regulators
Megan Aldworth Associate Editor Loyola University Chicago School of Law, JD 2023 Silicon Valley Bank (SVB) started in Silicon Valley in 1983 and found a booming growth in tandem with the tech industry and venture capital. At its collapse, which spanned over 48 hours and started on the eve of March 8, it was …
Proposal to Change TULA Late Fee Maximum on Credit Cards: Is it Beneficial or Burdensome?
Megan Aldworth Associate Editor Loyola University Chicago School of Law, JD 2023 The Truth in Lending Act (TILA), established 1968, is aimed to protect consumers against unfair credit practices and billing by lenders. Under TILA, lenders must provide consumers (borrowers) with information that allows them to compare loan terms given by various lending institutions. …
The SEC’s Proposal for Regulation Best Execution and Its Effect on Broker-Dealers
Megan Aldworth Associate Editor Loyola University Chicago School of Law, JD 2023 On December 14, 2022, the U.S. Securities and Exchange Commission (SEC) announced a proposal for Regulation Best Execution (Reg BE). The regulation would broadly affect those buying and selling securities in a wide array of markets. Reg BE would generally require broker-dealers …
Financial Institutions and the Financing of Emissions: How Firms are Addressing the Climate Emergency Through Net Zero Emission Initiatives.
Megan Aldworth Associate Editor Loyola University Chicago School of Law, JD 2023 While our world economy is driven by commerce, over the last few decades, it has become apparent that along with driving the economy, commerce is driving our planet into a state of emergency. According to the UN Secretary-General, “the climate emergency is …
The SEC’s Regulation Best Interest: Purposes, Components, and Criticisms
In 2019, the U.S. Securities and Exchange Commission (SEC) adopted Regulation Best Interest (“Reg BI”). Reg BI is a standard of conduct that applies to broker-dealers (a firm in the business of selling securities) and persons associated with broker-dealers when making a recommendation of a certain investment strategy or securities transaction to a retail customer. The SEC gave broker-dealers a time window to implement this new law into firm policies and procedures, and while no regulatory action happened in the first few years of its enactment, the SEC brought its first action in June of this year and FINRA brought its first in October of this year. This makes it especially important for broker-dealer firms to ensure they are presently in compliance with the standards set forth in Reg BI.
Employment Contracts: The History of Non-Compete Agreements and the Future of Garden Leave Provisions
Non-competes are a traditional approach for employers seeking to place a restrictive covenant on an employee post termination or resignation. Recent studies show as high as 39.8 percent of all private sector employers are requiring non-competes, regardless of age or position. These agreements are typically signed by an employee near the date of hire, or over the course of employment, and typically limit the employee from working for or with competitors post-employment; sometimes even placing further restrictions regarding geographical areas or time periods.