The Fiduciary Principle and the Best Interests of Average Retail Investors

By Joseph A. Franco June 25, 2021 by Joseph A. Franco

The Securities and Exchange Commission recently offered a full-throated explication of its premise that investment advisers are subject to a federally imposed fiduciary standard under the Investment Advisers Act (IAA).[1] The premise, grounded in cryptic Supreme Court dicta, served …

Can Corporate Governance Be Commoditized?

By Joseph A. Franco March 13, 2019 by Joseph A. Franco

Shared series trusts – an entity structure of recent vintage used in organizing mutual funds or exchange traded funds – are a strange species in the world of business entities. Simply put, such entities are designed to provide governance in …

The CLS Blue Sky Blog

Columbia Law School's Blog on Corporations and the Capital Markets

Joseph A. Franco

The Fiduciary Principle and the Best Interests of Average Retail Investors

Can Corporate Governance Be Commoditized?