Columbia Law School (LexBlog Australia)

Much of the debate about activist shareholders is informed by experience in Northern Hemisphere markets, particularly the United States. In my recently published book, I examine the topic from an Australian perspective. Australia is ideal for exploring shareholder activism for several reasons. It has a substantial share market, and its pensions and fund management industries...

In response to growing concern about the effects of climate change, different regions of the world have adopted mandatory greenhouse gas (GHG) disclosure rules, including Australia, the European Union, and the United Kingdom. Notably, the U.S. Securities and Exchange Commission (SEC) proposed an extensive climate reporting rule in 2022. The goal of these programs is...

Ten years ago, the U.S. Supreme Court issued its landmark decision in Morrison v. National Australia Bank Ltd., which limited the extraterritorial application of the federal securities laws in order to prevent the United States from becoming “the Shangri-La of class-action litigation for lawyers representing those allegedly cheated in foreign securities markets.”[1]  In Morrison, the...

The global financial crisis highlighted the interconnectedness of international financial markets and the risk of contagion it posed. The crisis also emphasized the importance of supranational regulation and regulatory cooperation to help address and ameliorate that risk. Yet, although capital flows are global, securities regulation is not. As a 2019 report by the International Organization...