International Finance

Blockchain-Based Securities Offerings

June 27, 2019

What can blockchain technology contribute to the evolution of the trading infrastructure and securities offerings? We provide answers based on existing precedence of blockchain-based securities offerings in this new article (with Sam Evans – PWC): Click here or copy /paste link: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3411110 Abstract Blockchain technology has the potential to supplement the existing infrastructure for securities offerings. […]

Private Fund Fee Structure and Blockchain Applications

April 27, 2017April 27, 2017

(Forthcoming: Lowell Milken Institute for Business Law and Policy – UCLA School of Law) Fully Cited Version: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2959730 The traditional 2/20 fee structure of private investment funds has come increasingly under pressure in the last ten years. Several market factors help explain the pressure on the fee structure of the private investment fund industry. Private fund […]

Dynamic Regulation Via Contingent Capital

April 24, 2017

Dynamic Regulation Via Contingent Capital Review of Banking and Financial Law, Vol. 36, 2017 16 Pages Posted: Wulf A. Kaal University of St. Thomas, Minnesota – School of Law Date Written: April 24, 2017 Abstract Contingent capital securities are a largely overlooked dynamic regulatory mechanism. This essay evaluates the use of contingent capital securities in […]

Private fund Performance After the Dodd-Frank Act – Evidence from 2010 to 2015

September 4, 2015

Originally blogged on Columbia Blue Sky Blog: http://clsbluesky.law.columbia.edu/2015/09/03/private-fund-performance-after-the-dodd-frank-act-evidence-from-2010-to-2015/ Does the Dodd-Frank Act lower the earnings of the private fund industry? For much of its history, the private fund industry has viewed private fund adviser registration and the disclosure of proprietary information as a threat to its profitability. Title IV of the Dodd-Frank Act introduced the most […]

The Effect of Non- and Deferred Prosecution Agreements on Corporate Governance: Evidence from 1993-2013

September 23, 2014September 23, 2014

Non- and Deferred Prosecution Agreements (N/DPAs) are controversial because prosecutors, not judges or the legislature, are changing the governance of leading public corporations and entire industries. To analyze N/DPAs’ corporate governance implications and provide policy makers with guidance, the authors code all publicly available N/DPAs (N=271) from 1993 to 2013, identifying 215 governance categories and […]

Presentation: Effect of Dodd-Frank Act on Hedge Fund Performance – at European Financial Management Association – 2014 Annual Conference – Rome Italy

June 20, 2014

EUROPEAN FINANCIAL MANAGEMENT ASSOCIATION 2014 Annual Conference June 25 – 28, 2014 University of Rome Tor Vergata – School of Economics Rome, ITALY Dear colleagues and friends of the European Financial Management Association (EFMA), On behalf of the School of Economics of the University of Rome Tor Vergata, We have the great pleasure and privilege […]

Hedge Funds and Private Equity Presentation at Upper Midwest Securities Litigation and Enforcement Forum

May 24, 2014

Upper Midwest Securities Litigation and Enforcement Forum 2014 Briggs Securities Litigation Forum Thursday, May 29, 2014 Graves 601 Hotel 601 1st Avenue North Minneapolis, MN 55403 http://www.graves601hotel.com CLE credits applied for REGISTER: Dena Edmiston, Briggs and Morgan, P.A. 612.977.8581 or e-mail dedmiston@briggs.com Welcome Register today for the fifth annual Upper Midwest Securities Litigation and Enforcement […]

The Effect of the Dodd-Frank Act on Hedge Fund Performance – Presentation at George Washington University Law School

January 30, 2014

THE CENTER FOR LAW, ECONOMICS AND FINANCE AT THE GEORGE WASHINGTON UNIVERSITY LAW SCHOOL FOURTH ANNUAL JUNIOR FACULTY BUSINESS AND FINANCIAL LAW WORKSHOP AND JUNIOR FACULTY SCHOLARSHIP PRIZES Sponsored by Schulte Roth & Zabel LLP The George Washington University Law School 2000 H Street, NW Washington, DC 20052 February 7-8, 2014 Friday February 7 Welcome, […]

HEDGE FUND REGULATION SYMPOSIUM

October 17, 2013

UNIVERSITY OF MINNESOTA LAW SCHOOL CORPORATE INSTITUTE HEDGE FUND REGULATION SYMPOSIUM Tuesday, November 5, at 3:15-5:15PM (Reception to follow) University of Minnesota Law School Room 25 Applied for CLE Credits – 2 hours (No charge) RSVP to melloh@umn.edu US hedge fund regulation under the Dodd-Frank Act of 2010…European hedge fund regulation…legal and illegal use […]

Hedge Fund Performance after the Dodd-Frank Act – Presentation at the Midwestern Law & Economics Association

October 9, 2013October 9, 2013

Paper presentation at 9:00 AM on Friday, October 11 at the University of Illinois in Champaign Urbana – Presentation at the Midwestern Law & Economics Association. Hedge Fund Performance After the Dodd-Frank Act – A Regression Discontinuity Analysis by Wulf A. Kaal (UST Minneapolis)* Barbara Luppi (Modena Italy)* Sandra Paterlini (EBS Germany)* Abstract Title IV of […]