4th Annual Berle Symposium

The Future of Financial/Securities Markets

June 14 – 15, 2012

Faculty of Laws
University College London
Bentham House, Moot Court Room
Endsleigh Gardens
London WC1H 0EG

Thursday 14 June

WELCOME

9:00 am

Charles R. T. O'Kelley 

Professor and Director | Adolf A. Berle, Jr. Center on Corporations | Law and Society  Seattle University School of Law

Marc Moore

Senior Lecturer and Deputy Director | Centre for Commercial Law| Faculty of Laws | University College London.


SETTING THE SCENE

9:15 am

Framing Address: A Framework for Analyzing Financial Market Transformation

Steven Schwarcz

Stanley A. Star Professor of Law & Business | Duke University           

9:45 am

Why Global Finance Needs an Institutional Bing Bang? How it can be achieved?

Emilios Avgouleas

Professor of International Banking Law and Finance | School of Law | University of Edinburgh

10:15 am

Break

10:30 am

What are the Purposes of Financial Markets, and how do the Current Arrangements Fare when Judged Pragmatically against Achievement of those Purposes?

Cynthia A. Williams

Professor | University of Illinois College of Law


THE PARAMETERS OF FINANCIAL/SECURITIES REGULATION

11:00 am

Securities Regulation vs. Financial Regulation 

Steven M. Davidoff

Associate Professor of Law and Finance |  Mortiz College of Law | Ohio State University

Claire A. Hill

Professor and James L. Krusemark Chair in Law  | University of  Minnesota Law

11:30 am

Law, Systemic Risk, and Resilience - are we asking the Right Questions?

Joanna Gray

Professor of Financial Regulation |  Newcastle Law School | Newcastle University

David Bholat
Newcastle Law School | Newcastle University

12:00 pm

Revisiting "Truth in Securities' Revisited": Drawing the Line between Private and Public Markets

Adam Pritchard

Frances and George Skestos Professor of Law | University of Michigan Law School

12:30–1:30 pm

Lunch (Keeton Room, Bentham House)


REGULATING RISK IN FINANCIAL/SECURITIES MARKETS

1:30 pm

Due Diligence with Residential Mortgage-Backed Securities

Merritt Fox 

Michael E. Patterson , Professor of Law | Columbia Law School

2:00 pm

Members Undercover - Hedge Funds, Risk-Decoupling, and the Empty Voting Problem 

Wolf-Georg Ringe  

DAAD Lecturer in Law and Director | Institute of European and Comparative Law | University of Oxford Faculty of Law

2:30 pm

Making Money:  Leverage and Private Sector Money Creation

Margaret Blair

Milton R. Underwood Chair in Free Enterprise | Vanderbilt University Law School

3:00 pm

Break 


MANAGING FINANCIAL/SECURITIES MARKET FAILURE

3:15 pm

Deep Stall: The Problem of Unmanageable Technical Failures in Finance 

Karel Williams (with Julie Froud & John Law)

Professor of Accounting and Political Economy | Director, Centre for the Study of Socio-Cultural Change |  Manchester Business School |  The University of Manchester

3:45 pm

Rethinking Private Placement Liability

William K. Sjostrom

Professor of Law | James E. Rogers College of Law | The University of Arizona

4:15 pm

Shareholder Democracy in the Shadow of the Financial Crisis 

Alan Dignam

Professor of Corporate Law | School of Law |  Queen Mary University of London  


THE REGULATORY ARCHITECTURE OF FINANCE

4:45 pm

Can't see the Wood from the Trees? Measuring and Evaluating Regulatory Performance in the Aftermath of the Global Financial Crisis through a CEDAR Prism

Justin O'Brien

Professor of Law |  Faculty of Law | University of New South Wales

5:15 pm

The Long Road Back: Business Roundtable and the Implications for Future SEC Rule-Making

Jill  E. Fisch  

Perry Golkin Professor of Law | Co-Director, Institute for Law and Economics | University of Pennsylvania Law School

5:45 pm

Who Wants to Watch? The emergence of financial consumers as regulatory actors in post-crisis international financial regulation 

Toni Williams

Professor | Kent Law School | University of Kent

6:15 pm

Conclusion

7:00 pm

Symposium Dinner (UCL Terrace Restaurant)


INSTITUTIONAL SHAREHOLDER ENGAGEMENT: PROSPECTS AND LIMITATIONS

Friday, 15 June 2012 

8:45 am

Who Beneficially Owns the Shares Whose Value We are Maximizing?

William Wilson Bratton

Nicholas F. Gallicchio Professor of Law | Co-Director, Institute for Law and Economics | University of Pennsylvania Law School

9:15 am

The Potential of Stewardship 

Sally Wheeler

Professor | Queen's University Belfast

9:45 am

International Institutions in U.S. Shareholder Litigation 

David H. Webber

Associate Professor of Law | Boston University School of Law

10:15 am

Break


FINANCIALIZATION AND THE CORPORATE OBJECTIVE

10:30 am

The Financialization of the US Corporation 

William Lazonick

Professor and Director | Center for Industrial Competitiveness | University of Massachusetts Lowell

11:00 am

Berle and Means, Veblen and the Critique of the Rentier 

Paddy Ireland

Professor | Kent Law School | University of Kent

11:30 am

What Do Shareholders Really Value? 

Lynn Stout

Goldberg Visiting Professor (Spring 2012) | Cornell University Law School

12:00–1:00 pm

Lunch (Keeton Room | Bentham House)


RETHINKING CORPORATE GOVERNANCE AFTER THE FINANCIAL CRISIS

1:00 pm

Conceptions of Corporate Purpose in Post-Crisis Financial Firms

Christopher Bruner

Associate Professor of Law | Washington and Lee University School of Law

1:30 pm

The Market for Corporate Control-New Insights from the Financial Crisis 

Blanaid Clarke

Associate Professor | School of Law | University College Dublin

2:00 pm

Social Capitalism and Custodial Regulation 

David Westbrook

Professor | State University of New York at Buffalo Law School


CORPORATE RESPONSIBILITY AND SOCIAL JUSTICE

2:30 pm

CSR and CSR Reports 

Ciarán O'Kelly  

Lecturer | Queen's University Belfast

3:00 pm

Shareholder Social Responsibility

David Millon

J. B. Stombock Professor of Law | Washington and Lee University School of Law

3:30 pm

Executive pay: could distributive justice theory get us out of this mess?

Charlotte Villiers

Professor | University of Bristol Law School


EVOLUTIONS IN (AND CHALLENGES TO) FINANCIAL CAPITALISM

4:00 pm

Central bank-led capitalism? Undisclosed, unchallenged, and unsustainable

Ismail Erturk (with Sukhdev Johal, Adam Leaver & Mick Moran)

Senior Lecturer in Banking | Manchester Business School |The University of Manchester

4:30 pm

The Modern Corporation Magnified: Managerial Accountability in Financial Services Holding Companies

Anita Krug

Assistant Professor |University of Washington School of Law

5:00 pm

The Governance and Disclosure of the Firm as an Enterprise Entity

Yuri Biondi

Tenured Research Fellow | National Center for Scientific Research, France

5:30 pm

Banking and Competition in Exceptional Times

Brett Christophers

Assistant Professor, Department of Social and Economic Geography |  Uppsala University

6:00 pm

Conclusion

Contact us

The Berle Center
901 12th Avenue
Sullivan Hall
Seattle, WA 98122-1090

Charles R.T. O'Kelley
Professor & Director
okelleyc@seattleu.edu

Lori Lamb
Administrative Director
206-398-4033
lambl@seattleu.edu