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Derivatives Regulation, Featured, Home, Securities, U.S. Business Law, Volume 4

The CFTC’s Cross-Border Guidance for Swaps and Substituted Compliance Regime

James Schwartz: The regulation of the swaps market, in which transactions between counterparties in wide-ranging jurisdictions have long been routine, requires international coordination and cooperation. If this were lacking, the consequences could include regulatory arbitrage, outsized compliance costs for, or incomplete compliance by, market participants, the fracturing of liquidity among different jurisdictions, and perhaps even political tensions.

Energy, Featured, Home, U.S. Business Law, Volume 4

The Regulatory Challenge Of Distributed Generation

David B. Raskin: Recent published reports point toward a growing conviction that the demand for utility service from the U.S. electric grid may soon decline, perhaps substantially, due to the expanding use of distributed generation. If distributed generation comes to play a significant role, the loss of demand for service from the grid may eventually make it difficult for the owners of grid assets to recover their costs, creating what the utility industry calls “stranded costs.”

Energy, Featured, Home, U.S. Business Law, Volume 4

Investing in U.S. Pipeline Infrastructure: Could the Proposed Master Limited Partnerships Parity Act Spur New Investment?

Linda E. Carlisle, Daniel A. Hagan and Jane E. Rueger: This Article explores combining the traditional oil and gas pipeline structure with solar electric generation to: (1) increase the return on pipeline investments by making the income from a solar electric generation business available to pipeline operators; and (2) lower the cost of operating the pipeline.

Featured, Home, Securities, U.S. Business Law, Volume 4

The Equity Façade of SEC Disgorgement

Russell G. Ryan: The SEC commonly describes disgorgement as an equitable remedy, and courts similarly begin their disgorgement analyses by assuming as axiomatic the equitable nature of disgorgement. But what if that premise is wrong? What if disgorgement is an equitable remedy only some of the time? What if in many cases it is actually a remedy at law, or even a punitive remedy? And what if in some cases the very label of disgorgement is a misnomer?

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