While much scholarly and public attention is paid to the Freedom of Information Act’s (FOIA) request-driven model of disclosure, less well known is the statute’s requirement that agencies publicly disclose certain government records without waiting for a request from the public. Federal agencies must “make available for public inspection in an electronic format” specific types […]
Distributed financial technologies (DFT) and protocols are gaining a foothold in important payment and settlement applications in global markets. The software developed by Ripple is one example of an enterprise solution for financial institutions that improves the efficiency of their cross-border payments. However, robust DFT must be paired with clear commercial rules that define and […]
Through his seminal work on transaction costs, Nobel laureate Ronald Coase highlighted key frictions that prevent organizations from relying exclusively on market transaction to achieve their goals. Uncertainty, asymmetric information and the risk of moral hazard, by undermining the ability to write complete and effective contracts, force organizations to internalize operations and depend on more […]
People involved in FinTech live in a world of “what if?”, “how about?” and “why not?”. They gaze into an unknown future filled with unlimited possibilities for a more efficient and inclusive global financial system. But that future may also pose potentially devastating risks that are beyond the control of policy-makers. Nowhere is this dichotomy […]
As new uses of blockchain technology become more varied and appealing, the issue of appropriate regulatory structure is a common legal theme. Blockchain delivers a secure, tamper-evident digital evidence structure. Blockchains combine distributed computer networks and cryptography to make a better way of storing and proving who did what when. From a functional legal perspective, […]
On March 3, 2017, industry leaders, policymakers, and academics converged at Yale Law School to discuss blockchain, a technology that some believe has the potential to disrupt current modes of providing core financial services and transacting in capital markets. Over the course of the day, panelists debated the opportunities created by blockchain adoption, as well […]
The Senate Homeland Security and Government Affairs Committee reported out S. 591, the Regulatory Accountability Act of 2017. The bill’s proposed addition of section 553(c)(6) to the Administrative Procedure Act warrants attention. The provision has already been the focus of consideration in The Regulatory Review: Daniel E. Walters, Ditch the Flawed Legislative Proposal to Police […]
Prosecutorial discretion refers to the decision made by employees of the Department of Homeland Security (DHS) about whether and to what extent immigration laws should be exercised against a person or group of persons. When DHS chooses to not pursue arrest or detention of an undocumented mother living in the United States for many years […]
President Trump’s hiring freeze is likely illegal. In an effort to reduce the size of the federal workforce, President Trump instituted a general hiring freeze on new federal workers. Subsequently, President Trump issued a memo instructing agencies to “begin taking immediate actions to achieve near-term workforce reductions and cost savings, including planning for funding levels […]
The eccentricities, let’s say, of the current President obscure something very interesting and important that is occurring now in the regulatory system. So I will try, in my seven or so minutes, to describe what’s changed and why it represents the beginning of a serious reimagining—yes, a serious one—of the regulatory process. As a baseline […]
In 2011, Congress gave the Patent Office new rulemaking power, and created new adjudicative proceedings at the Patent Office before panels of “administrative patent judges.” These proceedings have generated hundreds of new appeals to the Federal Circuit, some of which are exceptionally well-lawyered and present interesting administrative law issues. These cases have recently started to […]
President Trump’s recent objections to spending money appropriated under the Consolidated Appropriations Act of 2017 are likely illegal. The 708-page act funds the government for the remainder of the fiscal year and includes multiple specifications on how President Trump must spend money. In a signing statement, President Trump took issue with many of the provisions of the […]
Many of President Trump’s objections to the Consolidated Appropriations Act of 2017 are likely unconstitutional. The 708-page act funds the government for the remainder of the fiscal year and includes multiple restrictions on how President Trump can spend money, otherwise known as “riders.” In a signing statement, President Trump took issue with 76 of these […]
A little over two weeks ago, tens of thousands of people marched in cities around the country in support of efforts to combat climate change. Just a day before they marched, the United States Court of Appeals for the D.C. Circuit issued an order that undermines those efforts, granting a motion filed by the Trump […]
In the challenge to EPA’s Clean Power Plan now pending in the D.C. Circuit, the Trump Administration has moved to the hold the case in abeyance, in anticipation of EPA’s upcoming departure from the Plan. Last Friday, April 28, the D.C. Circuit agreed to hold the case in abeyance for 60 days, but the court […]