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This section
of the webpage contains supplemental materials that may be useful
to teachers and students using the Regulation
of Financial Institutions casebook. To view certain materials
listed on this page, you must have a copy of Adobe Acrobat Reader
installed on your machine. To download a free version of this
reader, click here.
GENERAL
INFORMATION
To view a complete
collection of the United States Code (U.S.C.), click here.
To view a complete
collection of the United States Code of Federal Regulations (C.F.R.),
click here.
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DEPOSITORY
INSTITUTIONS
Legislative
Materials Related Financial Modernization Legislation (relevant to Chapter
Four & Chapters Fourteen to Sixteen)
On November
12, 1999, President Clinton signed into law financial modernization
legislation that substantially liberalizes the rules governing
affiliations between depository institution and other sectors
of the financial services industry. To view the legislation,
as approved by the Senate on November 9, 1999, click here.
To view a summary of the legislation from the House Conference
Report for the bill, click here. To
view President Clinton's signing statement, click here.
To provide an
overview of the Financial Modernization legislation, two law
firms have generously agreed to make available detailed memoranda
which summarize key provisions and explore implications for the
financial services industry.
To view a copy
of Covington & Burling's memorandum of November 12, 1999,
prepared on behalf of the American Bankers Association, click
here. For further information, contact
John Dugan, Esq., at jdugan@cov.com.
To view a copy
of Gibson, Crutcher & Dunn LLP's memorandum of December 16,
1999, click here. For further information,
contact Dines Warren, Esq., at dWarren@gdclaw.com
To obtain further
legislative history of this legislation, go to Congress's Thomas website
and search for the phrases "H.R.10" or "S.900"
in the archives of the 106th Congress.
Lending Limit
Exercise
(appropriate for use in connection with Chapter Three, Section
3)
- To help students
learn more about the role of counsel in representing financial
institutions, Professor Howell Jackson and Professor Elizabeth
Schiltz of Notre Dame Law School have developed a Lending Limit
Exercise in which students are called upon to draft an opinion
of counsel regarding a proposed transaction of a client bank.
The Exercise includes various documents and regulatory materials
that students must review before drafting their letters. The
exercise also includes background information on opinions of
counsel. The Exercise can be assigned to individual students
or groups of students. In the past, the Exercise has proved to
be an extremely effective and popular teaching device.
- To download
a copy of the Lending Limit Exercise (in pdf format), click here. To view an index of various
statutory and other materials (available for downloading in pdf
format) necessary to complete the lending limit exercise, click
here.
- Professors
interested in making use of this Exercise should contact Professor
Jackson at hjackson@law.harvard.edu
to receive a copy of certain additional materials related to
this exercise.
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see related internet resources,
press accounts, academic
papers -
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INSURANCE
COMPANIES
To learn more
about the National Association of Insurance Commissioners and
to see examples of the NAIC model insurance laws, click here.
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see related internet
resources, press accounts,
academic papers -
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SECURITIES
FIRMS AND CAPITAL MARKETS
For an effort
to establish international standards for the regulation of securities
firms, see the newly released report Objectives
and Principles of Securities Regulation: A Report of the International
Organisation of Securities Commissions (Sept. 1998). Does
the U.S. regulatory system outlined in Chapter Nine, meet these
standards? Is it reasonable to expect all jurisdictions to maintain
supervision at this level?
Chapter Eleven,
Section 2, pp. 768-70: In December of 1998, the SEC adopted final
regulations on the regulation of exchanges and alterantive trading
systems. To view the Commission's promulgating release, click
here.
As an extension
of the chapter eleven's introduction to the obligations of broker-dealers,
students may find the SEC's recent Inspection Report on the Soft Dollar Practices
of Broker-Dealers, Investment Advisers and Mutual Funds (Sept.
22, 1998) (prepared by the Office of Compliance, Inspections
and Examinations, U.S. Securities & Exchange Commission)
recent report on Soft-Dollar Practices. (These practices are
briefly discussed in Chapter Thirteen, page 870. note 4.
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see related internet resources,
press accounts, academic
papers -
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INVESTMENT
MANAGEMENT
For a provocative
and critical comment on the SEC's recent acceptance of mutual
fund profiles (discussed on page 928 of Chapter Thirteen, Section
3), see Bevis Longstreth, The
Profile: Designer Disclosure for Mutual Funds (Nov. 6, 1998)
(in pdf format).
For the complete
instructions for Form N-1A (an illustration of which is included
as Appendix A in the Statutory Supplement), click here.
For an SEC Overview
of Rules and Registration Procedures for Investment Advisers,
click here.
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see related internet
resources, press accounts,
academic papers -
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INTER-INDUSTRY
COMPETITION
See materials
related to H.R.10 described above in Depository
Institutions section.
Chapter Fourteen,
Section 2, pp. 1031-32, Comment 3: In October 1998, the SEC adopted
a final version of their Broker-Dealer Lite proposal. To view
the Commission's promulgating release, click here.
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see related press accounts,
academic papers -
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SOCIAL
SECURITY REFORM
To review a
recent report on the Privatization of Social Security prepared
by a panel of experts from the National Academy of Social Insurance,
click here.
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see related internet resources,
press accounts, academic
papers -
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INTERNATIONAL
FINANCE
To view the
IMF's recent report on IMF-Supported Programs in Indonesia, Korea,
and Thailand: A Preliminary Assessment (Jan. 1999), click here.
To view Federal
Reserve Board Chairman Alan Greenspan's recent speech, The Structure
of the International Financial System, at the Annual Meeting
of the Securities Industry Association, Boca Raton, Florida (Nov.
5, 1998), click here.
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see related press accounts,
academic papers - |
