The Center for Business and Financial Law

What’s happening at CBFL

The Center for Business and Financial Law completed an exciting spring semester filled with events and special projects. We will announce new events and projects at the end of the summer!

News

5/18/15: Professor Howard Meyers’s letter to the editor under the headline “Investors Must Pay for Services One Way or Another” is published in The Wall Street Journal.

5/17/15: Professor Houman Shadab’s op-ed “What itBit’s Banking Law Charter Really Means” is published in Coindesk.

5/11/15: CBFL’s Bitcoin Law conference held at NYLS last October was mentioned in a caption for “How itBit defied naysayers to become bitcoin’s first chartered company.” [New York Business Journal]

5/7/15: Professor Houman Shadab quoted in “New York Charters Virtual Currency Firm Ahead of Expected AML Rules.” [Click here to read the article.]

5/6/15: Professor Houman Shadab quoted in “BitBeat: Day After FinCEN Bombshell, Ripple Labs Addresses Concerns” [Wall Street Journal]; “What Ripple’s FinCEN Fine Means for the Digital Currency Industry” [American Banker]; and “Feds’ Ripple Penalty Bolsters Fight Against NY’s BitLicense.” [Law 360]

4/30/15: Professor Houman Shadab spoke on a panel at Stanford Law School’s annual Future Law Conference on “New Breakthroughs in Computational Law.” He spoke about contract and enterprise automation and related issues in organizational law. More information is available here.

4/29/15: Professor Houman Shadab quoted in “The Bitcoin Startup Ecosystem in Bear Market, Regulatory Environment.” [Allcoinsnews]

4/28/15: Professor Houman Shadab mentioned in “Inside Bitcoins NYC Presentation Day 1 (morning till noon).” [Bitcoinist]

4/28/15: Professor Houman Shadab spoke on a panel at the Inside Bitcoins New York conference on “The Bitcoin Startup Ecosystem.” Other participants on the panel included Brock Pierce, Founder and Managing Partner of Blockchain Capital, and Eddy Travia, Co-Founder and Chief Startup Officer at Seedcoin. More information is available here.

4/23/15: Professor Ronald Filler moderated a panel on “Current Regulatory Derivatives Issues” at a conference titled “2015 Securities Litigation & Regulatory Enforcement Conference: Insights for the Financial Service Attorney.”

4/19/15: The March/April edition of the Journal of Taxation and Regulation of Financial Institutions, edited by Professor Houman Shadab, includes articles on cybersecurity for community banks, margin requirements for uncleared derivatives, and Citibank’s suit to obtain a tax refund from the South Dakota Department of Revenue. The current Assistant Editors are Keila S. Espinosa 2L and Alec Rubenstein 2L.

4/17/15: Professor Tamara Belinfanti quoted in “Chicago Inno Beat 4/17 – Etsy and the Price of Social Consciousness, Unicorns, CPS EdTech, Rogue Golf Carts.” [Chicago Inno]

4/17/15: Professor Ronald Filler mentioned in “Regulators must harmonise NDF clearing rules” [FX Week] [subscription required]

4/16/15: Professor Tamara Belinfanti’s op-ed “Social Good Is Not Inconsistent with Profit” appears in The New York Times.

4/14/15: Professor Ronald Filler moderated a panel on the “Regulation of Non-Deliverable FX Forwards” at the FX Invest Conference in Chicago.

4/7/15: Professor Houman Shadab quoted in “Banks Can Cherry-Pick the Best Bits from Bitcoin: Report.” [American Banker]

4/7/15: Professor Houman Shadab quoted in “‘Smart Contracts’ Won’t Eliminate Need For Lawyers.” [Law360]

4/4/15: Professor Houman Shadab mentioned in “Bitcoin Petition Calls for ‘Safe Harbor.’” [Forex News]

3/30/15: Professor Ronald Filler was quoted in “Stalking Jon Corzine.” [Newsweek]

3/25/15: Professor Houman Shadab was mentioned in “NYPAY Hosts Event on Cryptocurrencies and Regulation at Deloitte.” [Bitcoin News]

3/10/15: Professor Ronald Filler moderated a panel at the Commodity Futures Trading Commission Program for International Regulators before some 50 governmental regulators from around the globe. The topic of the panel was “ Clearing Issues.”

3/9/15: Professor Houman Shadab’s article “How Bitcoin Will Change International Bank Payments” featured on the homepage of Coin Center.

3/6/15: Professors Tamara Belinfanti and Houman Shadab will make presentations at the Fourth Annual Seminar on Advancing Good Governance in International Development to be held at Oxford University on June 4 and 5, 2015. Professor Belinfanti will speak about “Social ‘Intrapreneurship’ in the Private Sector: Praxis, Process and Potential,” while Professor Shadab will present a “Briefing on Recent Developments” where he will feature recent work on trade finance and electronic payment systems such as M-Pesa and governance issues related to them.

3/6/15: Professor Houman Shadab is quoted in “SWIFT Panel Sees a Future for Bitcoin in International Banking.” [Cryptocoins News]

3/4/15: Professor Houman Shadab was quoted in “Cryptocurrency Technology Set to Shake Up Correspondent Banking.” [American Banker]

3/2/15: Professor Houman Shadab was mentioned in “The Next Big Thing: A Robotic ‘Nexus’ of Contracts.” [All About Alpha]

2/27/15: Professor Houman Shadab’s blog post “Empowering Distributed Autonomous Companies” was featured in Issue #43 of Bitcoin Weekly. [Bitcoin Weekly]

2/19/15: Professor Ronald Filler was elected to the Executive Committee of the National Futures Association, the derivatives industry’s self-regulatory organization. For more information, click here.

2/10/15: Professor Houman Shadab was mentioned in “SWIFT Event to Discuss Bitcoin’s Impact on Banking.” [CoinDesk] He was also mentioned in “New Jersey Legislators Take First Look At Virtual Currency’s Regulatory System.” [Banking Daily]

2/6/15: Professor Houman Shadab was mentioned in “SWIFT, the Global Financial Messaging Standard Body to Discuss Crypto-Protocols.” [Bitcoin News] He was also mentioned in “Bitcoin Panel Seeks New Take on Regulation at New Jersey Hearing.” [CoinDesk]

2/5/15: Professor Houman Shadab testified before the New Jersey Assembly’s Committee on Financial Institutions and Insurance about digital currencies.

2/4/15: Professor Houman Shadab was quoted in “New Jersey Eyes Bill to Lure Digital Currency Businesses.”To read the article, click here.

2/4/15: Professor Houman Shadab was mentioned in “New Jersey Assembly To Hold Hearing on Bitcoin & Digital Currency Regulation Tomorrow.” Read more here.

1/28/15: Professor Houman Shadab spoke on a panel called “The Business Survival Guide to Bitcoin” at the New York State Bar Association annual meeting. More information about the panel is available here.

1/23/15: Professor Howard Meyers is quoted in the Wall Street Journal in “The Accidental Debt That Wouldn’t Die.”

1/23/15: Professor Ronald Filler moderated a panel on clearing and customer protection issues at the Winter Meeting of the ABA Business Law Section Derivatives & Futures Law Committee, in Naples, Florida. More information about the meeting is available here.

1/15/15: Professor Houman Shadab’s co-authored article “Bitcoin Financial Regulation: Securities, Derivatives, Prediction Markets, and Gambling” was published in the Columbia Science and Technology Law Review and is available here.

1/13/15: Professor Houman Shadab was mentioned in “Coin Center Launches Website.” [Coin Report] He was also quoted in “Forget Currency, Bitcoin Tech is the Revolution.” [Alley Watch]

1/9/15: Professor Houman Shadab was named an inaugural Fellow at the Coin Center, a Washington D.C.-based nonprofit research and advocacy organization focused on public policy issues facing cryptocurrency technologies such as Bitcoin. More information is available here.

1/8/15: Professor Houman Shadab is mentioned in “CFTC Commissioner: Market Manipulation Could Shape Bitcoin’s Future.” Click here to read the article.

1/6/15: Professor Houman Shadab is mentioned in “Think Tank Launches To Educate Lawmakers and the Media on Blockchain Technologies.” Click here to read the article.

12/14/14: Professor Houman Shadab quoted in “Why Bitcoin Needs More Lawyers to Bridge the Technology Gap.” Click here to read the article.

12/10/14: Professor Houman Shadab is quoted in “Bharara: Decision May ‘Narrow’ Insider-trading Cases.” Click here to read the article.

11/13/14: Professor Houman Shadab gave a presentation on cryptoequity to the Cryptoledgers Study Group hosted by Harvard’s Berman Center for Internet and Society. More information is available here.

11/13/14: Professor Houman Shadab is quoted by CNBC in “Forget Currency, Bitcoin’s Tech is the Revolution.” Click here to read the article.

11/6/14: Professor Houman Shadab was mentioned in Pantera Capital’s monthly investor newsletter. Click here to see more.

10/24/14: The most recent issue of the Journal of Taxation of Regulation of Financial Institutions, whose Editor-in-Chief is Professor Houman Shadab, is now available online, and includes his article “Improving Hedge Fund Governance.”

10/23/14: The NYLS Bitcoin Conference was featured in “Payments Veterans Discuss Bitcoin vs Apple Pay at NY Law Conference.” [CoinDesk]

10/23/14: The NYLS Bitcoin Conference was featured in “Apple’s Mobile Buzz Impacts Bitcoin, but Regs Still Unclear.” [PaymentsSource] This event was also featured by CoinDesk and Ultra Coin.

10/22/14: Professor Houman Shadab was mentioned in “GMAC/CTFC Hosts Open Meeting Regarding Bitcoin and Digital Currency.” [JD Supra]

10/21/14: THe NYLS Bitcoin Conference was featured in “Watch New York Law School Bitcoin Conference Live Today.” [CryptoCoinsNews]

10/21/14: The NYLS Bitcoin Conference was featured in “Live Stream: The Future of Bitcoin Law.” [Upstart Business Journal] This event was also featured by Coinsetter, Bitcoin Regime, CryptoGeeks, Gary’s Guide, and PaymentWeek.

10/19/14: Professor Houman Shadab testifies before the U.S. Commodity Futures Trading Commission on Bitcoin and blockchain derivatives. [YouTube​]

10/16/14: Professor Houman Shadab was featured in “Creating a Futures Market on the Blockchain.” [Bitcoin News]

10/10/14: Professor Houman Shadab was featured in “CFTC Says the Bitcoin Protocol is Here to Stay” [Bitcoin News], quoted in “CFTC Acknowledges Bitcoin’s Long-Term Promise at DC Hearing” [CoinDesk], and also mentioned in “Bumpy Ride for Bitcoin Traders.” [Futures Magazine]

10/9/14: Professor Houman Shadab spoke on a panel about Bitcoin derivatives before the Global Markets Advisory Committee of the Commodity Futures Trading Commission in Washington, D.C. A copy of his written statement submitted to the Commission is available here.

10/8/14: Professor Houman Shadab was mentioned in “BST North America Panel: Derivatives Regulation Creates Tech Limbo, Opportunities.” Read more here.

10/7/14: Professor Houman Shadab moderated a panel on derivatives regulation at the Buy Side Technology, North American Summit 2014, in New York City.

9/24/14: Read Professor Tamara Belinfanti’s new article Corporate Perception or Corporate Reality? on the Business Law Prof Blog.

9/23/14: The Daily Journal quotes Professor Houman Shadab in “Attorneys, Academics Unfazed by Calpers’ Hedge Fund Exit.” Click here to read the PDF.

9/15/14: Law360 interviews Professor Houman Shadab on NY Court Could Weaken Rule Shielding Banks’ Overseas Cash. Click here to read more.

9/4/14: The Bitcoin Lawyer interviews Professor Houman Shadab on smart contracts and Bitcoin banks. Click here to read more.

8/11/14: A recent webinar featuring Professor Houman Shadab discusses several legal issues surrounding the use of virtual currencies such as Bitcoin. Click here to read more.

7/30/14: Professor Tamara Belinfanti attended the Fourth Annual Impact Economy Symposium & Retreat in Switzerland where participants from the public, private, and nonprofit sectors discussed how best to make an impact on the world. Click here to read her article.

7/9/14: Professor Ronald Filler led a discussion at a “Careers in Financial Services Compliance” panel as part of the New York City Bar Association’s summer series on hot practice areas. To read more, click here.

7/7/14: Professor Houman Shadab is quoted in a story about the demise of a virtual currency called Dogecoin.

6/27/14: Brian Barnhart of NewsTalk 1400 interviews Professor Ronald Filler of New York Law School on the stock market and financial services law. Click here to hear the interview.

6/17/14: Professor Tamara Belinfanti is undertaking a project to see whether corporate law makes room for happiness and well-being.

6/15/14: Business Law Prof Blog welcomes back Professor Tamara Belinfanti as a guest blogger.

5/29/14: The Law and Society Association’s Annual Meeting in Minneapolis included Professor Tamara Belinfanti, who presented her paper “Social Intrapraneurs and the Theory of the Firm.”

5/2714: Coindesk says that Professor Houman Shadab’s working paper on Bitcoin securities and derivatives regulation is “the most detailed analysis to date” in that subject area. Read more here.

5/18/14: Professor Houman Shadab is quoted in “How Regulators Should Approach the Bitcoin Derivatives Market.” Read more here.

5/9/14: Professor Howard Meyers and the Securities Arbitration Clinic featured in “Law School Clinic Wins Annuity Arbitration for Public Customer.” Read more here.

5/5/14: Professor Ronald Filler is quoted in “Growth of Book Entities Seen as Swap Liquidity Threat”  in Risk.net. (Click on the “Free Trial” button.)

4/23/14: Tamara Belinfanti, a Co-Director of the Center for Business and Financial Law, is now Professor of Law at New York Law School. See her profile here.

4/23/14: Houman Shadab, a Co-Director of the Center for Business and Financial Law, is now Professor of Law at New York Law School. See his profile here.

4/10/14: Should financial regulators exempt or exclude certain financial transactions denominated in Bitcoin from the full scope of various regulations? Read more in a new paper co-authored by Professor Houman Shadab.

4/4/14: The Center for Business and Financial Law has launched the FINRA Arbitration Awards Project where students – under the direction of Professor Ronald Filler – have created a searchable database of arbitration awards issued by the Financial Industry Regulatory Authority (FINRA).

4/1/14: See Professor Houman Shadab’s video interview on the Internal Revenue Service’s decision to treat bitcoins as property rather than currency.

3/31/14: Read Professor Houman Shadab’s latest post on high-frequency trading on his blog Lawbitrage.

3/27/14: See the video of the address given by New York State Attorney General Eric Schneiderman at New York Law School on “A New Initiative to Crackdown on Predatory Practices.”

3/26/14: Using the popular Lego Movie as a backdrop, Professor Tamara Belinfanti examines the debate on the purpose of corporations. Read her blog post here.

3/11/14: Professor Tamara Belinfanti co-moderated a panel which discussed the impact of high frequency traders and whether regulators should create a framework to oversee their activities. Click here to read her overview.

2/24/14: Professor Ronald Filler has been re-elected as a Public Director on the National Futures Association. Click here to read the press release.

1/31/14: Professor Houman Shadab is quoted by CoinDesk, one of the leading online news resources on bitcoins and digital currency, on the future of bitcoin regulation. Click here to read the article.

1/28/14: The Street interviews Professor Ronald Filler on the transition between the outgoing Federal Reserve chief and the incoming one. Click here to see the video.

1/5/14: Professor Tamara Belinfanti presented her article Shareholder Cultivation and New Governance for the panel “Corporate Theory and Regulation in the Aftermath of the Financial Crisis” organized by the Section on Socio-Economics at the Association of American Law Schools Annual Meeting held at New York Law School.

11/2013: Securities Arbitration Clinic (“SAC”) students Lauren Marinelli, Christopher Torrenzano, and Leonides Viajar participated in a Securities Dispute Resolution Triathlon (held at St. John’s Law School) which consisted of a simulated negotiation, and also mediation and arbitration rounds judged by current FINRA arbitrators and mediators. They placed third in the competition’s mediation round out of a field of 24 teams from around the country. SAC members Kim O’Toole and Alex Truitt served as team coaches.

11/12/13: Professor Houman Shadab’s research on hedge funds is quoted in “The Fine Print for Investing in Hedge Funds” by Accredited Investor Markets.

11/11/13: The Street interviews Professor Ronald Filler on the impact of new CFTC rules on retail investors. Click here to see the video.

11/6/13: Professor Howard Meyers is featured in a CCTV-America video interview discussing SAC Capital’s guilty plea.

11/4/13: Professor Houman Shadab spoke on a panel about Basel III bank liquidity regulation at the second annual Collateral Management conference sponsored by Global Financial Markets Intelligence.

October 2013: Inaugural edition of the NYLS Loan Report Published. Under the guidance of Professor Houman Shadab (the Co-Director of the Center for Business and Financial Law), the NYLS Loan Report – a project involving over 30 student members of the center – displays the important terms of credit agreements from 168 commercial loans with a combined value of approximately $80 billion and which range in size from $220,000 to $5 billion. This project distills their essential terms in a consistent, accurate, and readable format. Click here for more.

10/24/13: Several students in the Securities Arbitration Clinic (SAC) – Alex Truitt, Marlana Aref, and Lauren Porretta – successfully negotiated a favorable settlement on behalf of a client whose broker recommended that he purchase shares in an unsuitable and illiquid Real Estate Investment Trust. Last year’s SAC students (Param Sahni, Justin Marquez, and Tara Gatto) drafted the Statement of Claim in connection with this matter.

10/16/13: Professor Ronald Filler spoke on a panel at the Chicago Federal Reserve Bank discussing “How Would the Dodd Frank Act Have Impacted Lehman Brothers and AIG?”

9/27/13: Professor Tamara Belinfanti has been asked to serve a two-year term on the NYCBA Securities Regulation Committee. Actively engaged in the securities industry, the committee is composed of lawyers with diverse perspectives on securities issues, including members of law firms, counsel to corporations, investment banks, investors and government agencies, and legal academics.

9/23/13: Professor Howard Meyers has been quoted by Quartz in “Why A New Rule Allowing Hedge Funds To Advertise Could Be The Biggest Change to US Capital Markets Since the 1930s.”

9/2013: New York Law School’s LL.M. program in Financial Services Law (under the leadership of is director, Professor Ronald Filler) has been ranked #1 in the nation by the readers of the New York Law Journal for a second year in a row.

8/2013: The Securities Arbitration Clinic received a favorable arbitration award against Chase Investment Services, Corp. (Read the award here.) The Arbitrator awarded our client 100 percent of the requested damages along with 9 percent interest, and also ordered Chase to reimburse our client’s filing fee. Credit goes to last year’s clinic students – Carl-Alain Memnon, Kathleen Maher, and Lauren Smith – who interviewed the client, developed a theory of the case, conducted extensive legal research, and drafted and filed a claim with the Financial Industry Regulatory Authority.

8/2013: Ali Salameh ’14 had his article “The FDIC as Receiver of Failed Banks: A Primer” published in the Journal of Taxation and Regulation of Financial Institutions.

7/3/2013: Professor Houman Shadab gave a presentation on the role of market makers in financial markets to executives from Industrial Securities Co., Ltd., a brokerage and investment bank based in Fuzhou, China.

6/6/13: Professor Houman Shadab’s article, The Law and Economics of Hedge Funds: Financial Innovation and Investor Protection, 6 Berkeley Bus. L. J. 240 (2009), was cited by the Western District of Pennsylvania in Claude Worthington Benedum Foundation v. Harley, Civil Action No. 12-1386, 2013 BL 147763 (W.D. Pa.) and also by the United States Court of Federal Claims in Jicarilla Apache Nation v. United States, No. 02-25L, 2013 BL 166354 (Fed. Cl. June 24, 2013).

2/11/13: Professor Ronald H. Filler appeared on Reuters’ Sidebar to discuss derivatives regulation.

2/7/13: Professor Howard Meyers was interviewed in the CCTV story “Mary Jo White’s Conflicted Past.”

2/6/13: Professor Howard Meyers appeared and was quoted in the CCTV story “U.S. government sues Standard & Poor’s over pre-crisis ratings.”

2/5/13: Professor Ronald H. Filler participated in three panels at the Commodity Futures Trading Commission Roundtable on Enhancing Customer Protections in Washington, DC.

Winter 2012-13: Nicholas W. Turner ’12 had his article “Dodd-Frank and International Regulatory Convergence: The Case for Mutual Recognition” published in the New York Law School Law Review.

November/December 2012: Rena Malik ’10 had her article “Are You Covered? Insurance Considerations for Hedge Fund Managers and Directors” published in the Journal of Taxation and Regulation of Financial Institutions

11/14/12: Professor Houman Shadab spoke at the 18th Annual Risk USA conference on the impact of regulation on the derivatives market.

11/14/12: Professor Ronald Filler discussed derivatives gross margining on MarketsWiki.tv

11/5/12: Professor Houman Shadab spoke at the Global Financial Markets Intelligence Collateral Management Conference on bank capital regulation.

11/1/12: Professor Ronald Filler was quoted in Futures Magazine article “What the Experts Think About MF Global.”

10/31/12: Professor Ronald H. Filler was named the chairman of the Commodity Futures Trading Commission’s Global Markets Advisory Committee.

10/12/12: Professor Jeffrey Haas spoke at the St. John’s Law Review Symposium “Revolution in the Regulation of Financial Advice: The U.S., the U.K. and Australia.”

9/19/12: Professor Houman Shadab spoke at the OTC Derivatives Clearing Summit.

8/9/12: Professor Ronald Filler participated in a Commodity Futures Trade Commission roundtable on Customer Protection Requirements for Futures Commission Merchants.

July/August 2012: Evan J. Cappelli ’12 had his article “Credit Rating Agency Disclosure Requirements: A Guide to Rule 17g-7 Compliance When Rating Asset-Backed Securities” published in the Journal of Taxation and Regulation of Financial Institutions.

5/8/12: Professor Houman Shadab’s article, “The Law and Economics of Hedge Funds,” was cited by the 11th Circuit Court of Appeals in Lanfear v. Home Depot, Inc., No. 10-13002 (11th Cir).

3/7/12: Professor Tamara Belinfanti had her article “Corporations in a Lorax State” published in the Huffington Post.