Download or read book Corporate Speech Securities Regulation and an Institutional Approach to the First Amendment written by Michael R. Siebecker and published by . This book was released on 2008 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does the First Amendment shield politically tinged corporate speech from the compelled disclosure and reporting requirements embedded in the U.S. securities laws? The question arises in the securities regulation context because of an impending jurisprudential train wreck between the Supreme Court's commercial speech doctrine and its approach to corporate political speech. As corporations begin mixing commercial messages with political commentary, First Amendment jurisprudence simply provides insufficient guidance on the role government should play in regulating that speech. Although First Amendment jurisprudence generally counsels against governmental restrictions on corporate political speech without regard to the truth or falsity of the message, a different branch of that same jurisprudence suggests governmental regulation of commercial speech remains essential to ensure consumers receive accurate information and to maintain market efficiency. Unfortunately, the Supreme Court has never articulated sufficiently clear definitions of quot;commercialquot; or quot;politicalquot; speech, or the boundaries between them, to address claims of politically tinged corporate speech. Because the securities laws essentially operate through content based regulation of compelled speech, which often touches inherently political matters, the securities laws seem especially vulnerable to constitutional attack. Considering the limitations of current speech jurisprudence, this Article examines whether the quot;institutional approachquot; to the First Amendment advocated by Frederick Schauer provides a theoretical basis for maintaining a robust securities regulation regime. Following that approach, a determination of speech rights in any particular institutional setting should depend on an assessment of the societal importance of the institution as well as the relationship between speech rights and the institution's basic role. The Article concludes that an institutional approach to First Amendment jurisprudence not only provides sufficiently strong reasons for insulating the securities regulation regime from the First Amendment's reach, but also lends strong support for embracing a new institutional approach to First Amendment jurisprudence itself.
Download or read book Corporate First Amendment Rights and the SEC written by Nicholas Wolfson and published by Bloomsbury Publishing USA. This book was released on 1990-10-24 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1970s, the Supreme Court directly ruled for the first time that commercial speech is protected by the free speech clause of the Constitution. The Court, however, did not grant it the full protection afforded to political and artistic speech. The SEC regulates a vast array of corporate speech that it considers to be a type of commercial speech. In this book, Professor Nicholas Wolfson examines the SEC's considerable powers in the control of corporate information and argues that the Court's distinction between political-artistic speech and corporate speech is erroneous. Wolfson demonstrates that much of so-called political speech is concerned with economic self-interest. He finds no fundamental difference between it and corporate speech. In the domain of SEC-regulated speech, he demonstrates that traditional notions of commercial speech do not fit the parameters of SEC-regulated speech. Wolfson proposes that the SEC's regulation of proxy statements, prospectuses, investment advisory literature, and hostile takeover information should be subject to full protection of the First Amendment. He fully delineates the doctrine of commercial speech as well as the court cases that have determined the status of SEC speech. He analyzes the law and economics literature on commercial speech. Finally, Wolfson compares governance of a publicly held corporation to the governance of a political entity, and demonstrates that shareholder democracy is a political notion that should lead to full rights of free speech and freedom of association. This important critique of the regulation of corporate speech will be a valuable reference for securities and corporate lawyers, First Amendment attorneys, and institutional investors, as well as for students in business and law programs. Corporate, law, academic, and public libraries will also find it to be a notable addition to their collections.
Download or read book The First Amendment and the Business Corporation written by Ronald J. Colombo and published by . This book was released on 2015 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of the business corporation in modern society is a controversial one. Some fear and object to corporate power and influence over governments and culture. Others embrace the corporation as a counterweight to the State and as a vehicle to advance important private objectives. A flashpoint in this controversy has been the First Amendment to the U.S. Constitution, which enshrines the fundamental rights of freedom to speech, religion, and association. The extent to which a corporation can avail itself of these rights goes a long way in defining the corporation's role. Those who fear the corporation wish to see these rights restricted, while those who embrace it wish to see these rights recognized. The First Amendment and the Business Corporation explores the means by which the debate over the First Amendment rights of business corporations can be resolved. By recognizing that corporations possess constitutionally relevant differences, we discover a principled basis by which to afford some corporations the rights and protections of the First Amendment but not others. This is critically important, because a "one-size-fits-all" approach to corporate constitutional rights seriously threatens either democratic government or individual liberty. Recognizing rights where they should not be recognized unnecessarily augments the already considerable power and influence that corporations have in our society. However, denying rights where they are due undermines the liberty of human beings to create, patronize, work for, and invest in companies that share their most cherished values and beliefs.
Download or read book First Amendment Institutions written by Paul Horwitz and published by Harvard University Press. This book was released on 2013-01-07 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing a host of hot-button issues, from the barring of Christian student groups and military recruiters from law schools and universities to churches’ immunity from civil rights legislation in hiring and firing ministers, Paul Horwitz proposes a radical reformation of First Amendment law. Arguing that rigidly doctrinal approaches can’t account for messy, real-world situations, he suggests that the courts loosen their reins and let those institutions with a stake in First Amendment freedoms do more of the work of enforcing them. Universities, the press, libraries, churches, and various other institutions and associations are a fundamental part of the infrastructure of public discourse. Rather than subject them to ill-fitting, top-down rules and legal categories, courts should make them partners in shaping public discourse and First Amendment law, giving these institutions substantial autonomy to regulate their own affairs. Self-regulation and public criticism should be the key restraints on these institutions, not judicial fiat. Horwitz suggests that this approach would help the law enhance the contribution of our “First Amendment institutions” to social and political life. It would also move us toward a conception of the state as a participating member of our social framework, rather than a reigning and often overbearing sovereign. First Amendment Institutions offers a new vantage point from which to evaluate ongoing debates over topics ranging from campaign finance reform to campus hate speech and affirmative action in higher education. This book promises to promote—and provoke—important new discussions about the shape and future of the First Amendment.
Download or read book What 21st Century Free Speech Law Means for Securities Regulation written by Helen L. Norton and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Securities law has long regulated securities-related speech--and until recently, it did so with little, if any, First Amendment controversy. Yet the antiregulatory turn in the Supreme Court's 21st-Century Free Speech Clause doctrine has inspired corporate speakers' increasingly successful efforts to resist regulation in a variety of settings, settings that now include securities law. This doctrinal turn empowers courts, if they so choose, to dismantle the securities regulation framework in place since the Great Depression. At stake are not only recent governmental proposals to require companies to disclose accurate information about their vulnerabilities to climate change and other emerging risks, but also longstanding governmental efforts to inform and protect investors while serving broader public interests. This Article takes seriously this threat to the securities law framework and defends that framework's constitutionality. It describes why and how securities law regulates speech to inform and protect investors--functions that also achieve public-regarding goals by facilitating stable and efficient markets, encouraging corporate accountability, and ameliorating the systemic economic risks of market collapse. It then maps this securities law framework onto First Amendment law, demonstrating why and how this regulatory framework aligns with Free Speech Clause theory and doctrine. Key to this alignment are securities law's listener-centered functions.More specifically, this Article makes the case for identifying securities-related speech as a category of speech unprotected by the First Amendment. The Court has long considered the regulation of certain categories of speech as exempt from First Amendment review, and it has more recently announced a backwards-looking methodology for determining those categories that turns on identifying a longstanding regulatory tradition of restricting speech with a category without triggering First Amendment scrutiny. We can trace a lengthy regulatory tradition of responding to the informational asymmetries endemic to securities markets by prohibiting companies from making certain false and misleading statements and by requiring them to make accurate disclosures. This Article demonstrates how securities law remains consistent with this tradition (and thus regulates within a category of unprotected speech) through disclosures that inform investors' diverse approaches for assessing value and risk, including emerging risks like climate change. While maintaining that the securities market is sufficiently distinct from other markets in its susceptibility to information asymmetries to justify recognizing securities-related speech as its own category of unprotected speech, this Article also considers the possibility that the Court will instead turn to an entirely separate doctrine for considering the constitutionality of securities law: the very different rules that apply to the government's regulation of commercial speech. Here too securities regulation's listener-centered functions do important First Amendment work, as much of the securities law framework satisfies review under commercial speech doctrine so long as we continue to tether commercial expression's constitutional protection to that expression's capacity to inform listeners' decisionmaking.
Download or read book Free Speech and the Regulation of Social Media Content written by Valerie C. Brannon and published by Independently Published. This book was released on 2019-04-03 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the Supreme Court has recognized, social media sites like Facebook and Twitter have become important venues for users to exercise free speech rights protected under the First Amendment. Commentators and legislators, however, have questioned whether these social media platforms are living up to their reputation as digital public forums. Some have expressed concern that these sites are not doing enough to counter violent or false speech. At the same time, many argue that the platforms are unfairly banning and restricting access to potentially valuable speech. Currently, federal law does not offer much recourse for social media users who seek to challenge a social media provider's decision about whether and how to present a user's content. Lawsuits predicated on these sites' decisions to host or remove content have been largely unsuccessful, facing at least two significant barriers under existing federal law. First, while individuals have sometimes alleged that these companies violated their free speech rights by discriminating against users' content, courts have held that the First Amendment, which provides protection against state action, is not implicated by the actions of these private companies. Second, courts have concluded that many non-constitutional claims are barred by Section 230 of the Communications Decency Act, 47 U.S.C. § 230, which provides immunity to providers of interactive computer services, including social media providers, both for certain decisions to host content created by others and for actions taken "voluntarily" and "in good faith" to restrict access to "objectionable" material. Some have argued that Congress should step in to regulate social media sites. Government action regulating internet content would constitute state action that may implicate the First Amendment. In particular, social media providers may argue that government regulations impermissibly infringe on the providers' own constitutional free speech rights. Legal commentators have argued that when social media platforms decide whether and how to post users' content, these publication decisions are themselves protected under the First Amendment. There are few court decisions evaluating whether a social media site, by virtue of publishing, organizing, or even editing protected speech, is itself exercising free speech rights. Consequently, commentators have largely analyzed the question of whether the First Amendment protects a social media site's publication decisions by analogy to other types of First Amendment cases. There are at least three possible frameworks for analyzing governmental restrictions on social media sites' ability to moderate user content. Which of these three frameworks applies will depend largely on the particular action being regulated. Under existing law, social media platforms may be more likely to receive First Amendment protection when they exercise more editorial discretion in presenting user-generated content, rather than if they neutrally transmit all such content. In addition, certain types of speech receive less protection under the First Amendment. Courts may be more likely to uphold regulations targeting certain disfavored categories of speech such as obscenity or speech inciting violence. Finally, if a law targets a social media site's conduct rather than speech, it may not trigger the protections of the First Amendment at all.
Download or read book The Corporation and the Constitution written by Henry N. Butler and published by American Enterprise Institute. This book was released on 1995 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Corporation and the Constitution is a significant contribution to modern constitutional and corporate scholarship. It offers a coherent theory of applying the Constitution to the corporation, and it forces scholars to appreciate the developments that have taken place totally outside the realm of traditional scholarly discourse on the Constitution.
Download or read book Taking Stock of the First Amendment s Application to Securities Regulation written by Antony Page and published by . This book was released on 2012 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Securities regulations that compel or prohibit corporate disclosure have faced little First Amendment scrutiny, even though at least some of this compelled disclosure fits squarely within the Supreme Court's definition of protected commercial speech. Although several scholars argued otherwise in the late 1980s and early 1990s, most academics have rejected the application of the First Amendment to securities regulation. This article examines whether the so called securities exemption to the First Amendment is warranted.
Download or read book Regulation of Money Managers written by Tamar Frankel and published by Wolters Kluwer. This book was released on 2015-09-16 with total page 4826 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Regulation of Money Managers (with the original subtitle: The Investment Company Act and The Investment Advisers Act) was published in 1978 and 1980. The Second Edition, subtitled Mutual Funds and Advisers, was published in 2001 and has been annually updated since then. It is a comprehensive and exhaustive treatise on investment management regulation. The treatise covers federal and state statutes, their legislative history, common law, judicial decisions, rules and regulations of the Securities and Exchange Commission, staff reports, and other publications dealing with investment advisers and investment companies. The treatise touches on other financial institutions such as banks, insurance companies, and pension funds. The work also discusses the economic, business, and theoretical aspects of the investment management industry and their effects on the law and on policy. The treatise contains detailed analysis of the history and development of the Investment Company Act and the Investment Advisers Act. It examines the definitions in the Acts, including the concept of ‘‘investment adviser,’’ ‘‘affiliates,’’ and ‘‘interested persons.’’ It outlines the duties of investment company directors, the independent directors, and other fiduciaries of investment companies. The treatise deals with the SEC’s enforcement powers and private parties’ rights of action.
Download or read book We the Corporations How American Businesses Won Their Civil Rights written by Adam Winkler and published by Liveright Publishing. This book was released on 2018-02-27 with total page 485 pages. Available in PDF, EPUB and Kindle. Book excerpt: National Book Award for Nonfiction Finalist National Book Critics Circle Award for Nonfiction Finalist A New York Times Notable Book of the Year A Washington Post Notable Book of the Year A PBS “Now Read This” Book Club Selection Named one of the Best Books of the Year by the Economist and the Boston Globe A landmark exposé and “deeply engaging legal history” of one of the most successful, yet least known, civil rights movements in American history (Washington Post). In a revelatory work praised as “excellent and timely” (New York Times Book Review, front page), Adam Winkler, author of Gunfight, once again makes sense of our fraught constitutional history in this incisive portrait of how American businesses seized political power, won “equal rights,” and transformed the Constitution to serve big business. Uncovering the deep roots of Citizens United, he repositions that controversial 2010 Supreme Court decision as the capstone of a centuries-old battle for corporate personhood. “Tackling a topic that ought to be at the heart of political debate” (Economist), Winkler surveys more than four hundred years of diverse cases—and the contributions of such legendary legal figures as Daniel Webster, Roger Taney, Lewis Powell, and even Thurgood Marshall—to reveal that “the history of corporate rights is replete with ironies” (Wall Street Journal). We the Corporations is an uncompromising work of history to be read for years to come.
Download or read book Truth and Transparency written by Alan K. Chen and published by Cambridge University Press. This book was released on 2023-08-31 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: Undercover investigators have been celebrated as critical conduits of political speech and essential protectors of transparency. They have also been derided as intrusive and spy-like, inconsistent with private property rights, and morally or ethically questionable. In Truth and Transparency, Alan K. Chen and Justin Marceau rigorously examine this duality and seek to provide a socio-legal context for understanding these varying views. The book concretely defines undercover investigations, distinguishes the practice from investigative journalism and whistleblowing, and provides a comprehensive legal history. Chapters explore the public need for investigations and the rights of investigators, paying close attention to the types of investigations that fall beyond the scope of constitutional protection. The book also provides concrete empirical evidence of the broad, bipartisan support for undercover investigations and champions the practice as an essential com-ponent of the transparency our democracy needs to thrive.
Download or read book Democracy Expertise and Academic Freedom written by Robert C. Post and published by Yale University Press. This book was released on 2012-01-24 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: A leading American legal scholar offers a surprising account of the incompleteness of prevailing theories of freedom of speech. Robert C. Post shows that the familiar understanding of the First Amendment, which stresses the "marketplace of ideas" and which holds that "everyone is entitled to an opinion," is inadequate to create and preserve the expert knowledge that is necessary for a modern democracy to thrive. For a modern society reliably to answer such questions as whether nicotine causes cancer, the free and open exchange of ideas must be complemented by standards of scientific competence and practice that are both hierarchical and judgmental.Post develops a theory of First Amendment rights that seeks to explain both the need for the free formation of public opinion and the need for the distribution and creation of expertise. Along the way he offers a new and useful account of constitutional doctrines of academic freedom. These doctrines depend both upon free expression and the necessity of the kinds of professional judgment that universities exercise when they grant or deny tenure, or that professional journals exercise when they accept or reject submissions.
Download or read book Treatise on the Law of Securities Regulation written by Thomas Lee Hazen and published by . This book was released on 2009 with total page 856 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Free Speech Century written by Geoffrey R. Stone and published by Oxford University Press, USA. This book was released on 2018-12-04 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Supreme Court's 1919 decision in Schenck vs. the United States is one of the most important free speech cases in American history. Written by Oliver Wendell Holmes, it is most famous for first invoking the phrase "clear and present danger." Although the decision upheld the conviction of an individual for criticizing the draft during World War I, it also laid the foundation for our nation's robust protection of free speech. Over time, the standard Holmes devised made freedom of speech in America a reality rather than merely an ideal. In The Free Speech Century, two of America's leading First Amendment scholars, Lee C. Bollinger and Geoffrey R. Stone, have gathered a group of the nation's leading constitutional scholars--Cass Sunstein, Lawrence Lessig, Laurence Tribe, Kathleen Sullivan, Catherine McKinnon, among others--to evaluate the evolution of free speech doctrine since Schenk and to assess where it might be headed in the future. Since 1919, First Amendment jurisprudence in America has been a signal development in the history of constitutional democracies--remarkable for its level of doctrinal refinement, remarkable for its lateness in coming (in relation to the adoption of the First Amendment), and remarkable for the scope of protection it has afforded since the 1960s. Over the course of The First Amendment Century, judicial engagement with these fundamental rights has grown exponentially. We now have an elaborate set of free speech laws and norms, but as Stone and Bollinger stress, the context is always shifting. New societal threats like terrorism, and new technologies of communication continually reshape our understanding of what speech should be allowed. Publishing on the one hundredth anniversary of the decision that laid the foundation for America's free speech tradition, The Free Speech Century will serve as an essential resource for anyone interested in how our understanding of the First Amendment transformed over time and why it is so critical both for the United States and for the world today.
Download or read book The Fight for Free Speech written by Ian Rosenberg and published by NYU Press. This book was released on 2023-05-16 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A user’s guide to understanding contemporary free speech issues in the United States Americans today are confronted by a barrage of questions relating to their free speech freedoms. What are libel laws, and do they need to be changed to stop the press from lying? Does Colin Kaepernick have the right to take a knee? Can Saturday Night Live be punished for parody? While citizens are grappling with these questions, they generally have nowhere to turn to learn about the extent of their First Amendment rights. The Fight for Free Speech answers this call with an accessible, engaging user’s guide to free speech. Media lawyer Ian Rosenberg distills the spectrum of free speech law down to ten critical issues. Each chapter in this book focuses on a contemporary free speech question—from student walkouts for gun safety to Samantha Bee’s expletives, from Nazis marching in Charlottesville to the muting of adult film star Stormy Daniels— and then identifies, unpacks, and explains the key Supreme Court case that provides the answers. Together these fascinating stories create a practical framework for understanding where our free speech protections originated and how they can develop in the future. As people on all sides of the political spectrum are demanding their right to speak and be heard, The Fight for Free Speech is a handbook for combating authoritarianism, protecting our democracy, and bringing an understanding of free speech law to all.
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Download or read book The Content and Context of Hate Speech written by Michael Herz and published by Cambridge University Press. This book was released on 2012-04-09 with total page 569 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributors to this volume consider whether it is possible to establish carefully tailored hate speech policies that are cognizant of the varying traditions, histories and values of different countries. Throughout, there is a strong comparative emphasis, with examples (and authors) drawn from around the world. All the authors explore whether or when different cultural and historical settings justify different substantive rules given that such cultural relativism can be used to justify content-based restrictions and so endanger freedom of expression. Essays address the following questions, among others: is hate speech in fact so dangerous or harmful to vulnerable minorities or communities as to justify a lower standard of constitutional protection? What harms and benefits accrue from laws that criminalize hate speech in particular contexts? Are there circumstances in which everyone would agree that hate speech should be criminally punished? What lessons can be learned from international case law?
