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The article provides information about the Uniform Law Commission (ULC). It identifies the subject matter areas covered by the ULC, including commercial law, real estate law, family law, administrative procedure and alternative dispute resolution. It also describes the process of drafting a uniform law, which consists of proposal, creation of a drafting committee and introduction to interested states.

SOMMARIO: 1. Premessa. Profili generali della compensazione. – 2. Liquidazione giudiziale e compensazione: il Codice della crisi d’impresa e dell’insolvenza (CCII). – 3. Condizioni affinché si verifichi l’effetto estintivo: la reciprocità e il diritto al concorso. L’omogeneità. L’esigibilità. L’anteriorità del fatto genetico dei reciproci crediti. – 4. La liquidità e il problema della certezza. La liquidità e il problema dell’ammissibilità della compensazione giudiziale. – 5. L’art. 155, co. 2° e il limite temporale dell’acquisto inter vivos. – 6. Profili processuali: considerazioni preliminari. Il diritto di credito quale questione risolta incidenter tantum in vista della decisione sul diritto al concorso: riflessi sull’eccezione di compensazione. – 7. Modalità di esercizio della compensazione in pendenza della liquidazione giudiziale. – 8. Efficacia della decisione pronunciata in sede di accertamento dello stato passivo e riflessi sul giudizio ordinario nel quale sia stata sollevata l’eccezione di compensazione. – 9. La compensazione fatta valere dal soggetto in bonis in sede di formazione dello stato passivo. – 10. compensazione di un controcredito eccedente il credito dedotto in giudizio dalla curatela. – 11. Oggetto ed efficacia in sede di formazione dello stato passivo della decisione assunta dal giudice ordinario.

SOMMARIO. 1. Enfiteusi e miglioramenti. – 2. L’obbligo di miglioramento del fondo nell’era della sostenibilità. – 3. L’enfiteusi alla prova della tutela ambientale.

SUMMARY: 1. Digital payment fraud and COVID-19 pandemic. – 2. From unauthorised to authorised fraud: rise in app fraud. – 3. Comparative analysis of payment fraud statistics in Italy and the UK. – 4. Payment fraud overview. – 5. Managing compliance expenses. – 6. UK legal framework. – 7. Corporate criminal liability and “failure to prevent fraud”. – 8. PSR’s APP fraud reimbursement requirement. – 9. Gross negligence as the customer standard of caution. – 10. Italian legal framework. – 11. New EU rules on payment fraud. – 12. Conclusion.

SOMMARIO: 1. La relativizzata preclusione pro iudicato del decreto ingiuntivo definitivo dopo la sentenza della CGUE Banco di Desio. – 2. La complessiva ragionevolezza delle soluzioni prospettate dalla Corte di cassazione sul rafforzamento dell’istruttoria monitoria e sulla possibilità per il consumatore di far valere, anche oltre il termine per l’opposizione ex art. 645 c.p.c., l’abusività delle clausole presenti nel titolo negoziale posto a fondamento del credito. – 3. La portata eversiva del lento ma inesorabile movimento dei giudici del Kirchberg verso la consapevole fruizione delle nullità di protezione da parte del consumatore: scenari futuribili.

AbstractIn the last thirty years, international commercial courts (ICCs) have emerged around the world. ICCs offer adjudication in international commercial disputes. They are not creatures of international law – as their name may suggest – but specialized domestic courts embedded in national legal orders. The rise of ICCs is remarkable in that scholars expected commercial arbitration to gradually displace litigation in the twenty first century. What drives the creation of ICCs? Legal research suggests that ICCs are a manifestation of a new era of assertive unilateralism in global governance. Scholars point to states’ geopolitical motives, backlashes against private authority in the form of arbitration, and economic statecraft. Drawing on the New Interdependence Approach, this study argues that most ICCs are the result of policy entrepreneurship of elite law firms in the pursuit of growing the global market for commercial litigation. Depending on the legal-political context, they forge coalitions with domestic judiciaries or political leaders to advance ICC projects. The study highlights deep-rooted changes in the global dispute resolution landscape, the important role of commercial law in International Political Economy (IPE), and points to the mostly overlooked significance of law firms and judiciaries as architects of global economic governance. [ABSTRACT FROM AUTHOR]

In 2020, California passed a flavored tobacco sales restriction (FTSR), but the tobacco companies filed a referendum, and the ban will not be implemented unless approved by voters in November 2022. This study examined the percentage of the California population covered by a city FTSR and identified groups more likely to be covered. Mean demographics as well as tobacco use and control measures were compared for California cities with (n = 93) and without (n = 389) a FTSR, and t tests were used to examine the differences. We calculated adjusted odds ratios using logistic regression models. City FTSR policies covered 20.7% of the California population. Adjusted predictors of having a FTSR included the American Lung Association tobacco control score (odds ratio [OR] = 1.27, 95% confidence interval [CI]: [1.17, 1.38]), voting democratic (OR = 1.06, 95% CI: [1.02, 1.10]). and having a lower adult smoking prevalence (OR = 0.84, 95% CI: [0.72, 0.99]). A state-level policy would cover all populations in California. [ABSTRACT FROM AUTHOR]

Whether director remuneration is subject to commercial law requirements and whether not complying with these requirements can result in the remuneration not being deductible for tax purposes has been at the centre of long-standing debate. But recent Supreme Court judgments seem to have shed some light on the matter. These judgments limit the effects of the employment law link doctrine, which in practice could have effects that go beyond corporate income tax. These developments, together with a recent ruling of the European Court of Justice on the criteria to determine whether services provided by directors are subject to VAT, confirm the need to analyse this topic from all angles. [ABSTRACT FROM AUTHOR]

The article explores the framing of section 898 of the New York General Business Law within public nuisance doctrine to curb gun violence. Topics discussed include history of public nuisance doctrine from its origin in medieval English common law, elements of common law public nuisance doctrine compared to elements of section 898, and federal law challenges such as gun industry immunity or Protection of Lawful Commerce in Arms Act, firearms regulation, preemption and dormant commerce clause.

Should a court ever second‐guess a contract, ignoring what the parties said and imposing something different? Contractual purists insist that the answer is no. But the messy nature of reality counsels otherwise. We have long appreciated that creating a "complete" contract, one that efficiently treats every potentially relevant contingency, is impossible. In particular, systematic risks that affect the entire economy fall beyond contract's realistic reach. When such events occur, they upset contractual frameworks, leaving parties shackled with obligations suited to a world that never came to be. At least in that context, second‐guessing is vital. And that second‐guessing can be understood according to a concept called anticontract. When systematic risks fundamentally upend contractual frameworks, this inversion of contract's basic principles paradoxically fulfills contract's goals. Anticontract does the opposite of all that contract law does: it adjusts rather than enforces; it looks ex post rather than ex ante; it prioritizes the public rather than the parties; and it provides no general rules, only particular results. It operates, in short, irregularly rather than regularly. In the face of realized systematic risks, anticontract thus paradoxically fulfills contract's goals by doing contract's opposite. In so doing, it redistributes losses to those most able to bear them at the microlevel, curing macroeconomic ills at their source. In essence, it creates social insurance for systematic risks that private contract cannot manage. In all this, anticontract can be understood as an instance of a broader phenomenon, the completion of law through equity. Anticontract thus represents an important way to understand the limits of contract and when to violate the principles of contract law. [ABSTRACT FROM AUTHOR]

Law and strategy (LAS)—the study of the law's role in competitive advantage—has developed rapidly and with substantial promise for over 20 years. However, at this critical juncture in its development, the LAS literature lacks both a systematic review of its impact and an organized call for future research. To fill this scholarly gap, this article reports two citation analysis studies that identify the overall impact of the literature as well as the specific influence of seminal articles in the field. We find that LAS is widely cited, has a substantial and diverse disciplinary reach, and, crucially, that the influence of its seminal works has not faded over time. Building on these findings, we recommend pathways for future LAS research, including more cross‐disciplinary scholarship, a closer engagement with the related stream of proactive law, a deeper inquiry into ethics, more systematic theory‐building and empirical work, and a global perspective that tests the boundaries of LAS beyond fully developed markets. We conclude that LAS has a promising future with the potential for a wide range of applications that address significant challenges facing law and business. [ABSTRACT FROM AUTHOR]

Climate litigation has commonly been viewed as complicated by the courts and judges. Objective: this objective of this paper is to examine if climate inaction by a state constitutes and infringement on human right. It also aimed to analyse the effects of court decision on climate change litigation on global stock exchange performance. Priorwork: the paper inclines on prior literature on climate litigations and on the efficient market hypothesis of information impact on stock prices. Method: the paper applied two approaches namely a qualitative conceptual approach with the analysis recent ECHR, and brief quantitative approach using World Stock Market Index data. Results: climate change inaction by a state may constitute a violation of human right to life, quality of life and wellbeing. Also, the court decision on climate change litigation affects world index of stock markets significantly and negatively - showing that climate change litigation causes a negative jittery on stock markets. Implication: the paper offer implication for university business law departments, finance, economics and accounting academics for curriculum and research. It also offers practical implication for businesses to balancing economic risks inherent in business climate accountability. Value: the paper contributes a novel framework on climate inaction as violation of human rights and offers a new model of analysis with a combination of climate ligation and World Index of Stock Exchanges. [ABSTRACT FROM AUTHOR]

Copyright of Revista Derecho del Estado is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Business practices provide easy access to capital for certain goods. Hire purchase arises when the buyer cannot afford to pay cash. Standard agreements cannot be negotiated by consumers. In Indonesia, this practice is growing rapidly, especially in the motorbike trade. The application of standard agreements has important implications in business law, such as consumer protection and dispute resolution. Research on this subject is important for identifying challenges and opportunities in modern business. This legal research uses a normative juridical approach, which is a research method that relies on secondary data sources, such as library materials. This normative juridical approach involves analysis of legal principles, legal systematics, as well as vertical and horizontal synchronization in the civil law system in Indonesia. The results of this research are that the research highlights the importance of understanding the business practices of hire purchase contracts, especially the application of standard agreements and their legal implications. This raises questions regarding the balance of rights and obligations between providers and recipients of goods or services. It is important to understand the legal framework to ensure equality of rights and obligations and maintain the principles of consumer protection and public order in this business practice. [ABSTRACT FROM AUTHOR]

The article discusses Indiana Supreme Court (ISC) and Indiana Court of Appeals decisions on cases concerning banking, business, and contract law between September 1, 2022 and August 31, 2023. Topics explored include the establishment of commercial courts in several counties in Indiana, the business principle of fiduciary duty acknowledged in the case Zanetis v. Bradburn, and the rules governing guaranties noted in the case Shoaff v. First Merchants Bank.

This article explores the concept of joint liability in the context of violating procedures for incorporating a joint stock company in Algeria. It examines the goals of the Algerian legislator in establishing this responsibility and emphasizes the need for further clarity. The article discusses the personal scope of joint liability, including the founders of the company and other individuals associated with them. It also addresses the issue of joint liability for founders who did not contribute to the violation and the status of founders who only carried out some incorporation operations. The study concludes that legislative intervention may be necessary to address the shortcomings and ambiguities in the provision of joint liability. [Extracted from the article]

Cuban Corporate Law has its antecedents before 1959 in objective law; With the triumph of the Revolution, it is forgotten to make use of the Commercial Code of 188, the stage of nationalization overshadowed the private sector with nationalization. The recognition of private actors is resumed at the end of the 20th century, it occurs in its last decade, with the reopening of the small entrepreneur (TCP) and the corporate form of the Public Limited Company before the debacle of the socialist camp and the CAME. In the 21st century, private property is recognized in the 2019 constitutional text, with the associative form of the SRL, by promoting MSMEs in communion with private companies. Objective: an analysis of the private entrepreneur and the Simplified Stock Company is carried out in the doctrine and regulations of Corporate Law, the need to be introduced into the Cuban corporate legal system, as a new economic actor, by promoting MSMEs for the execution of activities jointly with the public company. Materials and methods: the analysis, synthesis of materials of Commercial Law were used to break down the information, the logical history of the stages of Corporate Law of the SAS, induction deduction to deduce and arrive at elements of value judgments from the general to the particular, the legal exegetical, the bibliographic review of materials on MSMEs, and the legal comparison of legal norms on the constitutive process of the commercial company of this new corporate type. Results: recognize simplified stock companies within the corporate legal system, in order to expedite the procedures of entrepreneurs before the Ministry of Economy and planning, how to update the legal regulations related to Commercial Law in Cuba. [ABSTRACT FROM AUTHOR]

The current study aimed to investigate the influence of an external audit on the achievement of tax planning practices in investment authorities and sporting companies, and to analyze its impact on the Saudi economy. We employed a descriptive method, specifically the survey method, to establish the objectives of this report. The participants represented the tax departments of the General Authority of Zakat and Income in addition to the responsible parties in the sports ministry, the ministry of investment, the sports authorities' managers and the private companies, the commercial law and economic law experts, experts in sports law and sports management, and the sports law and sports management experts. They serve as members of the board of directors for various Saudi sporting organizations. The research used 350 participants as the sample frame, collecting data through the use of questionnaires. A consensus has been reached on tax avoidance approaches such as structure decisions and deductible costs that have been influenced by factors like disparate taxes and administrative weakness. It also demonstrated the enhanced application of external audit principles, leading to improved effectiveness and efficiency in tax planning. The research that was conducted has noted the need for external auditing to enhance financial and tax management and economically strengthen Saudi Arabia. The economic effects of such practices can be studied in future studies by expanding on the employment, investment, and economic growth dimensions of qualifications in the sports industry in the Kingdom of Saudi Arabia and adding financial and economic views. [ABSTRACT FROM AUTHOR]

What follows is a speech I delivered at the William & Mary Business Law Review's Third Annual Symposium entitled "Regulating Finance in a Changing Administrative State" on April 1, 2023. Since then, there have been many developments in the world of crypto asset securities, some of which I address in an epilogue to the speech, below. [ABSTRACT FROM AUTHOR]

The article focuses on the intersection of commercial speech and the First Amendment in the context of cybersecurity screening decisions, particularly in the Ninth Circuit. It discusses the implications of a recent case involving Enigma Software Group and Malwarebytes, where the court grappled with the verifiability of cybersecurity screening determinations under the Lanham Act, adding complexity to the liability assessments of cybersecurity companies.

The article focuses on the prevalence of arbitration agreements in private sector and e-commerce transactions, often accompanied by waivers of class actions, leading to the suppression of claims. It proposes the use of the market participant doctrine by states and municipalities to circumvent preemption and limit forced arbitration, emphasizing its alignment with states' proprietary interests in ensuring safe and lawful service delivery.

Private equity has become a dominant force in distressed investing and Chapter 11 corporate reorganization. As a result, three new types of attorney conflicts have emerged, each of which threatens to undermine the efficacy and credibility of the bankruptcy system. Bankruptcy judges, practitioners, and scholars must respond. This Comment provides those stakeholders with a doctrinal and normative framework to understand the conflicts that pervade the system. In particular, this Comment defines three types of conflicts, explains how each threatens the functionality of Chapter 11 corporate restructuring, lays the doctrinal groundwork for a new understanding of attorney disinterestedness, and provides solutions to mitigate the relevant conflicts. In doing so, this Comment provides much-needed guidance to bankruptcy stakeholders who are keen to ensure debtor estates receive competent, loyal, and zealous representation. [ABSTRACT FROM AUTHOR]

The article educates business lawyers about captive insurance and its importance to the insurance market. Topics discussed include definition of a captive insurance company, benefits provided by a captive insurer to businesses, U.S. federal and state regulations on captive insurance, challenge for captive owners to achieve adequate risk diversification and distribution, implementation of captive insurance by a business owner and capitalization requirements for establishing a captive insurance.

Many contract theorists argue that contracts are promises. This view is appealing because it can justify the institution of contract law--contract law allows parties to vindicate their promissory rights. But contract-as-promise advocates have seriously misunderstood how promises work. They assume a cartoon version of promises, one that is overly abstract, individualistic, and is singularly fixated on the obligation to do what one promised. Such theorists have failed to adequately attend to other important dimensions of promises: How stringent is the promise? Under what conditions is a person obligated to perform? How is an agent entitled to respond to a breach? How should a promisee respond to a request for release? When should a promisee agree to renegotiate? These features of promissory morality vary radically across different kinds of human relationships--e.g., marriage, friendship, employment, parenting, and commercial bargains. This is an important result for contract theory. Courts routinely invoke the idea of a general, uniform set of contract principles applicable to all contracts. But if promissory morality doesn't justify applying uniform contract principles across different contracting relationships, then likely nothing does. We should thus liberate ourselves from the idea of general contract principles and embrace a kind of contractual pluralism. [ABSTRACT FROM AUTHOR]

As trade and economic activities expand and spread in this era, the brokerage contract plays an important role in wealth trading and the exchange of goods and services in various trade, industrial, and other fields. A professional acquires the status of a merchant for this work, whether a natural person or a legal entity. The need for brokers and intermediaries continues to increase constantly due to their skills and expertise in bridging views and narrowing the gap between contractors, facilitating the conclusion of transactions. This underscores the impact of the broker's role on commercial and economic life and the necessity to develop laws governing their business, especially given the ambiguity in regulating this topic. From this perspective, the present research examines the broker's role and responsibility by adopting a comparative and analytical descriptive approach. The research is structured into three chapters, aiming to investigate the broker's role and responsibility in performing the functions of the brokerage contract, preserving documents, ensuring implementation, and refraining from prohibited practices. The goal is to draw the most important findings and recommendations, which include recommending the standardization of brokering and real estate brokering procedures, harmonization between the business transaction system project and the real estate brokerage system, recommending the establishment of a private center for trade brokerage with independence and legal person status, and suggesting the addition of some important provisions. [ABSTRACT FROM AUTHOR]

Standard-essential patents (SEPs) are closely linked to technical standards and have the nature of public products. The combination of patents as private property rights with technical standards as public goods magnifies the exclusivity of patent rights, may hinder the application of technical standards and gives rise to a large number of legal disputes. Two solutions have been developed to alleviate this tension: a strong protection model that emphasizes the property rights nature of patents and a sharing model that emphasizes the public goods nature of technology standards. However, both options are detrimental to the efficiency of the allocation of technological resources and have led to conflicts in judicial decisions worldwide. To reconcile such conflicts, the courts should interpret the fair, reasonable and non-discriminatory principle flexibly according to the status of the parties to re-establish an equal relationship between SEP holders and technical standard implementers, thereby promoting the parties’ voluntary conclusion of patent licensing contracts. Effective measures include strengthening the obligation to negotiate licences between SEP holders and technical standard implementers and applying the principle of good faith to avoid ‘patent blackmail’ by patent holders and ‘reverse blackmail’ by technical standard implementers. Moreover, courts should be careful when deciding whether to adjudicate global licensing matters between parties to avoid judicial deadlock. These measures will ultimately contribute to the sustainability of technological resource creation and exploitation. [ABSTRACT FROM AUTHOR]

The holder of intellectual property is entitled to exploit its intellectual property in principle. However, China’s Anti-monopoly Law prohibits the anti-competitive refusal to deal, including the refusal to license intellectual property, which might constitute an abuse of market dominance. Existing anti-monopoly rules related to the refusal to license intellectual property in China are rather general and lack a definite test for the assessment, leaving too much discretion for Chinese competition authorities to interpret the law. As the two main antitrust jurisdictions globally, the US and the EU have different approaches to the refusal to license intellectual property. By reviewing comparative experience, the EU approach is more appropriate for China. It is suggested that China should establish a clear-up test to analyse the refusal to license intellectual property cases under the Antimonopoly Law, considering the indispensability of intellectual property and its influences on innovation. Meanwhile, Chinese law should include provisions on the remedy of a refusal to license. In this regard, China can make its anti-monopoly enforcement as to the refusal to license more transparent and build up a stable expectation for both domestic and foreign high-tech undertakings. [ABSTRACT FROM AUTHOR]

In the dynamic landscape of financial risk management, accurately predicting banks' susceptibility to bankruptcy is deemed a critical imperative. Predictive analytics are advanced through the utilization of sophisticated machine learning methodologies, specifically the Random Forest classification model (RFC), Grasshopper Optimizer Algorithm (GOA), and Artificial Rabbits Optimizer (ARO). The intricate interplay of these techniques aims to enhance the precision and efficacy of bankruptcy prediction models. Traditional methodologies often fall short of capturing the complexity of contemporary financial landscapes. Machine learning provides an avenue to address this challenge, simultaneously allowing for a nuanced analysis of various factors. This research responds to the existing literature gap by employing data mining techniques for automated knowledge extraction from financial databases and emphasizing a pioneering approach grounded in the qualitative domain. Specifically, superior performance is exhibited by the combined model, denoted as RFAR, with an accuracy of 0.972, in stark contrast to the RFGO model, which achieves an accuracy of 0.956, and the RFC model, identified as the weakest among these models, with an accuracy of 0.930. This notable difference underscores the effectiveness of integrating machine learning methodologies, particularly the RFC model, GOA, and ARO, in predicting the likelihood of banks going bankrupt. [ABSTRACT FROM AUTHOR]

Company law is a crucial area of expertise or employment for experts in company secretarial work. The different provisions of the Companies Act, as well as its schedules, rules, notices, and circulars, as well as secretarial practice and case laws, are covered in-depth in this section. According to the law, a business is a body corporate with a different legal identity, status, and personality from the individuals who make up its membership. A company is, in the legal sense, a grouping of human and artificial beings that has been officially established by a nation's law. According to Indian law, there are seven different types of corporations: partnerships, limited liability companies, sole proprietorships, private limited companies, and public businesses (LLP). The list of types of businesses is below. The current law, the Companies Act of 1956, is made up of 15 Schedules and 658 provisions. There are 464 sections and 7 sections in the 2013 Companies Act. The Act includes fewer provisions since non-prescriptive regulations continue to control businesses. The Act's provisions served as the foundation for the notes that follow. company law Company law, also referred to as business law or company law, is the body of legislation that governs how businesses are formed, managed, and operated, as well as any associated rules, regulations, laws, and practices. Simply defined, corporate law deals with every legal problem that a business encounter. A Research's relevance is determined by the study itself. It speaks to the study's significance and contribution to a particular area of research. The emphasis is on who and how research findings are beneficial. It facilitates corporate success. We can use it to bolster truths and disprove lies. It serves as a tool for identifying, evaluating, and seizing opportunities. It encourages a love of reading and confidence in writing, analysis, and sharing important information. Leanne Zara emphasizes that "the major goal of research is to direct impact on people, prove a theory, as well as contribute to the advancement of knowledge in the subject of study" while discussing the significance of research. 4 Studies are the basis of information for the purpose of understanding and the primary source of providing laws or guidelines for managing various social, business, or governmental problems. A thorough research provides learners with critical thinking abilities, effective analysis, and research. It is a varied, systematic education that aids in effectively comprehending new advancements in one's specialty. The COPRAS-G method requires identifying selection criteria, evaluating information related to these criteria, and developing methods to evaluate Meeting the participant's needs Criteria for doing in order to assess the overall performance of the surrogate. Decision analysis involves a Decision Maker (DM) Situation to do consider a particular set of alternatives and select one among several alternatives, usually with conflicting criteria. For this reason, the developed complexity proportionality assessment (COPRAS) method can be used. Alternative Taken as Artificial person, Membership, Incorporated Association, Separate legal Existence and Perpetual Succession. Evaluation Parameters Taken as Common Seal, Limited Liability, Share Transfer, Maintenance of Account books, Audit of Accounts. Company law Membership is got the first rank whereas is the Incorporated Association is having the Lowest rank. Membership is got the first rank whereas is the Incorporated Association is having the Lowest rank. [ABSTRACT FROM AUTHOR]

This article examines the relationship between state legislation, the Employee Retirement Income Security Act (ERISA), and out-of-state abortion coverage provided by companies. It discusses how many states have implemented abortion restrictions following the Supreme Court's decision in Dobbs v. Jackson Women's Health Organization, including clauses that prohibit companies from funding abortion expenses. The article explores whether ERISA can override these state laws and protect companies from liability. It concludes that ERISA may preempt the state laws, but additional legislation may be necessary for full protection. The article also mentions concerns about potential felony charges for providing financial support for abortions and suggests that congressional action may be needed to address this issue. [Extracted from the article]

The article titled "SHOW ME THE MONEY": THE SEC'S USE OF DISTRIBUTION AS A TOOL FOR INVESTOR PROTECTION" discusses the Securities and Exchange Commission's (SEC) use of distribution as a tool for investor protection. It highlights the importance of disgorgement and distribution in SEC enforcement actions and the impact of recent developments on the SEC's ability to seek disgorgement. The article also presents recommendations for the SEC to prioritize beneficial distribution to harmed investors and continue aggressively pursuing disgorgement of ill-gotten profits. The background on securities regulations and the establishment of the SEC are also discussed. [Extracted from the article]

Brazil is South America's leading domicile for listed public companies and has enjoyed substantial economic growth in the last generation. But it remains a nation constrained by limited resources to address all of its challenges and opportunities. Because of this reality, Brazil has chosen to use arbitration as the method to resolve disputes between the stockholders of public companies about critical issues such as the fairness of interested transactions and other claims for breach of fiduciary duty or compliance with statutory law and securities laws. Likewise, important commercial disputes involving public companies are also resolved in arbitration. This is problematic in one hugely important way: Brazil has not yet recognized that arbitration of this kind that affects public companies, their stockholders, and other stakeholders is distinct from purely private arbitration. As a result, the arbitration process for public companies lacks the accountability and integrity that accompanies public adjudication and also fails to create a body of decisional law that provides a basis for the evolution of sound corporate governance best practices and that encourages arbitrators to base their decision on principled and coherent interpretations of commercial, corporate, and securities law. Recognizing that one of the primary reasons Delaware has emerged as an international leader in corporate and commercial law is that its system of adjudication resolves cases promptly, expertly, and publicly, and provides practitioners, academics, regulators, stockholders, corporate leaders, and the public with reasoned decisions about important determinations affecting public companies, we argue that features of Delaware's approach could be usefully employed within Brazil's system of public company arbitration. We thus support and encourage recent reforms in Brazil to open up the system of public company arbitration and provide specific suggestions for making the new movement toward public arbitration in public company cases effective. By capitalizing on the speed and expertise that can be brought to bear by arbitration, but combining it with credibility- and consistency-enhancing features, Brazil can further its ambitions to be an international leader in the market for incorporation and better encourage investment in its economy. [ABSTRACT FROM AUTHOR]