The gender pay gap has been an issue which, over the past few years, many have been trying to overcome.[1] To improve the situation, New York City has recently implemented Local Law 67.[2] When put into effect on October 31, 2017, this law will add Section 8-107(25) to the New York City Administrative Code,[3] “prohibit[ing] employers from inquiring about a prospective employee’s salary history during all stages of the employment process.”[4] Furthermore, the law will prohibit such information, if obtained by an employer, from being used in determining compensation during the hiring process, unless it is given voluntarily by the…
Author: Ariel Darvish
The E.U. General Data Protection Regulation (“GDPR”) is a new regulatory framework, which aims to protect citizens of the European Union from data and privacy breaches.[1] Passed by the E.U. Parliament in April of 2016, the GDPR is set to take effect May 25th, 2018, following a two-year transitional grace period.[2] However, this regulation reaches far beyond the borders of the European Union, and is set to become the new international standard for data protection.[3] The GDPR will usher in a myriad of new standards for data security and privacy. The focus of these provisions is creating and protecting rights…
This past summer the European Union (“EU”) fined Google because its price comparison feature tops the search results list while other price comparison services end up lower on the list.[1] Antitrust policies were the basis of this fine. These policies prevent monopolistic behavior, which exterminates competition and leaves consumers with only one supplier in a particular market.[2] Although this was a result of European law, American antitrust laws have similar policies to promote competition. This decision may be important for antitrust regulation in the U.S., as the Federal Trade Commission (“FTC”) has already investigated Google in the past.[3] Antitrust regulation…
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ABSTRACT The 2007-08 bailout programs were initially created under the emergent situation of financial crisis. Despite their effectiveness in stopping the collapse of financial system, those bailouts have been criticized as ill-planned governmental intervention. Nonetheless, based on the calculation of both the dollar amount of return and the rate of return of each program, this Comment argues that the bailouts are in fact good investments. Furthermore, since Dodd-Frank was invented with the primary purpose of curtailing future bailouts, this Comment also argues that Dodd-Frank reflected an unwise, overhasty decision by Congress. To download a full PDF of this article,…
ABSTRACT The Dodd-Frank Act amended the Commodity Exchange Act and adopted an explicit prohibition regarding activity commonly known as spoofing in commodities markets. This Note argues that the spoofing prohibition is a necessary step towards improved market discipline and price integrity in the relevant commodities markets. It fills an important gap in the CEA in relation to an elusive form of price manipulation activity by providing an explicit statutory authority on which regulators and market operators may rely in policing suspect trading strategies falling under the spoofing umbrella. Congress’ explicit denouncement of spoofing as an illegal act has ramifications not…
ABSTRACT Disclosure rules in the United States capital markets were designed to promote fairness among all participants by providing a transparent system for equal access to information. The interpretation of information is the foundation of all prudent investment decisions; thus, an efficient capital market depends on the proper disclosure of information. Hedge funds heavily influence and play an integral role in the proper functioning of capital markets. For the markets’ benefit, hedge funds must publicly disclose their investing activity, which consists of long positions, like buying stock to sell later, and short positions, like short selling. However, while hedge funds…
During the Gilded Age of the late Nineteenth Century, affluent individuals and families in the United States popularized the idea of creating vehicles to distribute wealth for charitable purposes.[1] Today, the modern day charitable entity (“charity” or “charities”) is pervasive in American society.[2] From five-time Super Bowl-winning quarterbacks[3] to the Forty-fifth President of the United States[4], the heads of charities contribute billions of dollars each year to noteworthy causes through their organizations.[5] While this philanthropic activity can make a positive impact on society, charities must comply with federal regulations and state laws designed to prevent misuse of charitable funds by…
The London Interbank Offered Rate (“Libor”) is an average of the estimated interest rates that big London banks would charge when borrowing from each other.[1] It is currently the chief benchmark rate for short-term interest rates globally,[2] with over $350 trillion of financial products pegged to the rate.[3] It’s also on its deathbed.[4] Libor will be phased out by the close of 2021.[5] The reason: a 2012 investigation revealed that multiple financial juggernauts—Deutsche Bank, Barclays, UBS, and the Royal Bank of Scotland to name a few—had been manipulating LIBOR for profit for almost a decade.[6] With Libor’s forced retirement imminent,…
As of 2016, credit cards have become the preferred payment method of most Americans.[1] As is expected when there is a large influx of demand, many credit card providers have joined the market to take advantage of this turning point in America’s monetary history. In order to keep up with the competition, credit card providers have offered various incentives to entice consumers to use their services. Although these incentives have been around for quite some time, they have evolved over the years to keep up with consumers’ ever-so-changing demands. An example of this type of incentive is when banks attracted…