Elon Law Professor Tom Molony delivered a presentation titled, "Still Floating: Security-Based Swap Agreements after Dodd-Frank," at a faculty colloquium at the University of St. Thomas School of Law on March 30.
Molony’s presentation examined:
– the historical interpretation of the term “security-based swap agreement,”
– its application in the cases of Securities Exchange Commission v. Langford and Securities and Exchange Commission v. LeCroy, and
– the continuing viability of the provisions of the Securities Act and the Exchange Act applicable to security-based swap agreements after enactment of The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
Molony reaches the conclusion that, “Congress should eliminate the provisions of the Securities Act and the Exchange Act related to security-based swap agreements because they largely have gone unused and have been poorly interpreted, because the term ‘security-based swap agreement’ is overbroad and creates confusion in the Dodd-Frank regulatory scheme and because Dodd-Frank makes the provisions unnecessary.”
Click here for more information about Elon Law professor Tom Molony.