The stock markets. Whether you invest or not, the workings of the stock market almost certainly t... more The stock markets. Whether you invest or not, the workings of the stock market almost certainly touch your life. Either through your retirement fund, your mutual fund or just because you work for a place that invests (or is invested in)—the reach of the securities markets is expanding, like an ever growing tidal wave. This book discusses what happens when that wave hits the shore. Specifically, this book argues that, given the mounting deluge from misplaced regulation, fast-paced technology, and dominant financial players, the current US regulatory structure is woefully inadequate to hold back the tide. Using vivid imagery and plain language, Karen Kunz and Jena Martin take the problems involved in regulating the complex world of securities head on. Examining everything from the rise of technology and the role of hedge funds to our bloated agency system, Kunz and Martin argue that the current structure is doomed to fail and, when it does, the consequences will be disastrous. Sending out a call to action, the authors also offer a bold vision for how to fix the mess we’ve made—not by tinkering around the edges—but instead by building a whole new structure, one that can withstand the next storm that is sure to come.
In recent months, the United States Postal Service (USPS) has taken center stage on a number of i... more In recent months, the United States Postal Service (USPS) has taken center stage on a number of intersecting issues in our society: the pandemic; the upcoming election (through mail-in voting) and the controversy surrounding the appointment of Louis DeJoy to the position of Postmaster General. President Donald Trump has frequently made derogatory remarks regarding the Postal Service, calling it a “joke,” and has made repeated statements encouraging its privatization. However, President Trump’s rhetoric (as well as the rhetoric of others before him) obfuscates the critical mission of the USPS – to provide service to every American in the country; not simply through its Universal Service Obligation but through other particularly public functions that are largely unique to this agency. This essay unmasks this rhetoric and argues that privatization is not a good fit for USPS. Through an examination of both the debates of privatization and the implications of becoming a profit-making bus...
This white paper was commissioned by the Center for Consumer Law and Education, a joint initiativ... more This white paper was commissioned by the Center for Consumer Law and Education, a joint initiative launched by West Virginia University and Marshall University to “coordinate the development of consumer law, policy, and education research to support and serve consumers.” <br><br>As such, this paper has a dual purpose. First, it provides a comprehensive overview of the many different legal issues that affect data privacy concerns (both nationally and in West Virginia). Second, it documents and discusses the result of a survey and specific focus groups that were undertaken throughout the fall of 2019 into January 2020 where individuals within the state provided valuable feedback regarding what they felt were the most pressing data privacy issues and what they would like in a law. These responses (along with the extensive research that was undertaken regarding other statutes, cases and responses across the nation and the world) were used to formulate best practices for legi...
Political Economy - Development: International Development Efforts & Strategies eJournal, 2018
This paper examines the parallels between economic development for developing countries at the in... more This paper examines the parallels between economic development for developing countries at the international levels and rural communities, such as Appalachia, within a developed nation. Specifically, this paper provides a comparative analysis between rural communities and their relationship within the national framework (including the narratives, stereotypes and assumptions that are fostered when discussing these communities) and developing countries that are attempting to engage at the international level. Among the issues that this paper will examine is whether, some international human rights frameworks (including a rights-based approach to development and the right to development under international human rights law) can be used to create a positive, cohesive framework that allows for Appalachians to have more of a voice when engaging on the national level. Other issues this paper will examine include: the use of the UN’s sustainable development goals as a common baseline to mea...
IRPN: Innovation & Securities Law & Policy (Sub-Topic), 2015
A disclosure -based framework is at the heart of U.S. securities regulation. This paper examines ... more A disclosure -based framework is at the heart of U.S. securities regulation. This paper examines this model’s emphasis on disclosure and discuss why it is inherently flawed. Specifically, the disclosure model is outdated and does not seem to reflect the current trading patterns that dominate the United States’ securities market. Instead, this paper argues that what is required is a radical response to the current trading patterns of American consumers in the securities markets - one that establishes a regulatory framework that examines the trading market as a whole instead of focusing on the disclosures of public companies. This would offer better protection against the problems that led to corporate scandals and crises in the market, including the 2008 recession.
Corporate scandals related to human rights issues have illustrated the hefty cost associated with... more Corporate scandals related to human rights issues have illustrated the hefty cost associated with ignoring humanitarian issues while conducting business. For example, the Royal Dutch Petroleum Company (Shell) has spent tens of millions of dollars related to the Nigerian government’s execution of the "Ogoni 9," which was preceded by a tense relationship between the corporation and Ogoni people of Nigeria. In addition, in India, the Vedanta corporation lost substantial market capitalization following a trial related to its mountain mining activities for its effects on the people of the region. Despite the moral duty that may have compelled action in these examples, it is also clear that a corporation’s (particularly a transnational corporation’s) decision to develop a framework for proactive corporate responsibility is also good business. Assuming the accuracy of this conclusion, this Article questions what role the board of directors should have in formulating this framewor...
Video of George Floyd’s death sparked global demonstrations and prompted individuals, communities... more Video of George Floyd’s death sparked global demonstrations and prompted individuals, communities and institutions to grapple with their own roles in embedding and perpetuating racist structures. The raison d’être of Business and Human Rights (BHR) is to tackle structural corporate impediments to the universal realization of human rights. Yet, racism, one of the most obvious of such barriers, has been a blind spot for BHR. While the field has contended with gender inequality, there have only been tokenistic nods to intersectional harms caused by business activities. The failure to address racism seriously undermines both the promise of BHR generally and specifically the recognized need to redress intersectional harms experienced by women from racialized backgrounds. In this article, three established BHR scholars enter into a dialogue on racism in BHR’s theory and practice. The article is not aimed at providing definitive answers, but instead at asking the questions necessary for un...
In June 2017, Waitrose, a top UK supermarket, pulled its cans of corned beef off the shelves afte... more In June 2017, Waitrose, a top UK supermarket, pulled its cans of corned beef off the shelves after an investigation revealed that the meat might have been produced with slave labor. At the time of the recall, Waitrose was in compliance with the UK Modern Slavery Act, a 2015 law enacted to prevent human trafficking and modern-day slavery. Under the Modern Slavery Act, corporations are required to file annual reports disclosing what action they had taken to eradicate slavery and human trafficking in their supply chains. The Modern Slavery Act was a much-lauded law that is part of the growing trend of States to move the international business and human rights agenda forward. A key component of that agenda involves disseminating the U.N.’s Protect, Respect, and Remedy Framework and implementing the U.N. Guiding Principles, which have been praised by States around the world as a framing mechanism for assessing corporate accountability for negative human rights impacts caused by a corporation’s operations and relationships with its suppliers. This article analyzes whether the business and human rights agenda (as embodied by the Three Pillar Framework and U.N. Guiding Principles) is well served by national laws that focus on disclosure. The article focuses primarily on rules being implemented in the United States at both the subnational and national level; however, it also discusses approaches being used in European jurisdictions such as the United Kingdom and France and the overall trend towards a transparency model for human rights protection made necessary by business activities. The increased use of disclosure-based regulation (and the resulting compliance efforts by corporations) seems to come, at least in part, as a result of the efforts by States to address the duties laid out for them in the U.N. Guiding Principles. As such, it is appropriate to undertake an analysis regarding whether these laws are in fact effectively implementing the Guiding Principles. For decades now, disclosure has been held out as the ultimate curative for almost every corporate woe. The expansion of disclosure initiatives from mere investment-related issues to (increasingly) social-policy issues suggest that this trend will continue. Yet, as this article demonstrates, disclosure right now is at best a temporary stop gap measure that can lead to limited corporate change on the issue of business and human rights. At worst, disclosure is being used by corporations as a way to obtain a reputational advantage without actually making substantive changes – by simply hiding in the light.
Introduction. More of the same? Or introduction of a new paradigm? Karen E. Bravo and Jena Martin... more Introduction. More of the same? Or introduction of a new paradigm? Karen E. Bravo and Jena Martin Part I. Looking Back: The Historical Context of Business and Human Rights: 1. The enterprise of empire: evolving understandings of corporate identity and responsibility Erika R. George 2. The Arab League boycott of Israel: warring histories, international trade, and human rights James J. Friedberg 3. Multi-stakeholder initiatives and the evolution of the business and human rights discourse: lessons from the Kimberley Process and conflict diamonds Atabongawung Tamo 4. Business and human rights after Ruggie's mandate: feasible next steps Alexandra Popova Part II. The Framework: Examining the Relevant Principles that Underlie a Business and Human Rights Agenda: 5. Business, respect, and human rights George G. Brenkert 6. Global need: rethinking business norms Patricia Illingworth 7. Corporate accountability for human rights: from top-down towards a bottom-up approach Jernej Letnar Cernic 8. Living in a material world - from naming and shaming to knowing and showing: will new disclosure regimes finally drive corporate accountability for human rights? Marcia L. Narine 9. Democratizing the global business and human rights project by catalyzing strategic litigation from the bottom up Larry Cata Backer, Nabih Haddad, Tomonori Teraoka and Keren Wang 10. The impact of the 'Ruggie Framework' and the United Nations Guiding Principles on Business and Human Rights on transnational human rights litigation Astrid Sanders 11. The third pillar: remedies, reparations, and the Ruggie principles Jonathan Drimmer and Lisa J. Laplante 12. The evolving business and society landscape: can human rights make a difference? Michael Addo and Jena Martin Part III. Moving Forward: Implementing a Business and Human Rights Agenda: 13. From principles to practice: implementing corporate responsibility for human rights Justine Nolan 14. Business, human rights, and due diligence: an approach for contractual integration Blair E. Kanis 15. Corporate codes of conduct and working conditions in the global supply chain: accountability through transparency in private ordering Meredith R. Miller 16. Transnational businesses, the right to safe working conditions, and the Rana Plaza building collapse: toward a tort-based solution to the global race to the bottom Ashton S. Phillips 17. The United Nations Guiding Principles on Business and Human Rights in the European Union: from regional action to national implementation Humberto Cantu Rivera 18. China's corporate social responsibility with national characteristics: coherence and dissonance with the global business and human rights project Larry Cata Backer 19. Avoiding the resource curse: applying the Guiding Principles in Kenya Nyakundi M. Michieka and Dustin Blankenship 20. Business and human rights: a call for labor liberalization Karen E. Bravo.
Public International Law: Human Rights eJournal, 2021
The global movement towards the adoption of corporate human rights due diligence laws is gaining ... more The global movement towards the adoption of corporate human rights due diligence laws is gaining momentum. Starting in France, moving to the Netherlands, and now at the European Union level, lawmakers across Europe are accepting the need to legislate to require that companies conduct human rights due diligence throughout their global operations. The situation in the United States is very different: on the federal level there is currently no law that mandates due diligence. Civil society organisation International Corporate Accountability Roundtable is stepping into the breach with a legislative proposal building on the model of the Foreign Corrupt Practices Act to prohibit corporations from engaging in grave human rights violations and to give the Securities and Exchange Commission and the Department of Justice the power to investigate any alleged violations. The article discusses this proposal, situating it in the both the domestic and the international business and human rights co...
The stock markets. Whether you invest or not, the workings of the stock market almost certainly t... more The stock markets. Whether you invest or not, the workings of the stock market almost certainly touch your life. Either through your retirement fund, your mutual fund or just because you work for a place that invests (or is invested in)—the reach of the securities markets is expanding, like an ever growing tidal wave. This book discusses what happens when that wave hits the shore. Specifically, this book argues that, given the mounting deluge from misplaced regulation, fast-paced technology, and dominant financial players, the current US regulatory structure is woefully inadequate to hold back the tide. Using vivid imagery and plain language, Karen Kunz and Jena Martin take the problems involved in regulating the complex world of securities head on. Examining everything from the rise of technology and the role of hedge funds to our bloated agency system, Kunz and Martin argue that the current structure is doomed to fail and, when it does, the consequences will be disastrous. Sending out a call to action, the authors also offer a bold vision for how to fix the mess we’ve made—not by tinkering around the edges—but instead by building a whole new structure, one that can withstand the next storm that is sure to come.
In recent months, the United States Postal Service (USPS) has taken center stage on a number of i... more In recent months, the United States Postal Service (USPS) has taken center stage on a number of intersecting issues in our society: the pandemic; the upcoming election (through mail-in voting) and the controversy surrounding the appointment of Louis DeJoy to the position of Postmaster General. President Donald Trump has frequently made derogatory remarks regarding the Postal Service, calling it a “joke,” and has made repeated statements encouraging its privatization. However, President Trump’s rhetoric (as well as the rhetoric of others before him) obfuscates the critical mission of the USPS – to provide service to every American in the country; not simply through its Universal Service Obligation but through other particularly public functions that are largely unique to this agency. This essay unmasks this rhetoric and argues that privatization is not a good fit for USPS. Through an examination of both the debates of privatization and the implications of becoming a profit-making bus...
This white paper was commissioned by the Center for Consumer Law and Education, a joint initiativ... more This white paper was commissioned by the Center for Consumer Law and Education, a joint initiative launched by West Virginia University and Marshall University to “coordinate the development of consumer law, policy, and education research to support and serve consumers.” <br><br>As such, this paper has a dual purpose. First, it provides a comprehensive overview of the many different legal issues that affect data privacy concerns (both nationally and in West Virginia). Second, it documents and discusses the result of a survey and specific focus groups that were undertaken throughout the fall of 2019 into January 2020 where individuals within the state provided valuable feedback regarding what they felt were the most pressing data privacy issues and what they would like in a law. These responses (along with the extensive research that was undertaken regarding other statutes, cases and responses across the nation and the world) were used to formulate best practices for legi...
Political Economy - Development: International Development Efforts & Strategies eJournal, 2018
This paper examines the parallels between economic development for developing countries at the in... more This paper examines the parallels between economic development for developing countries at the international levels and rural communities, such as Appalachia, within a developed nation. Specifically, this paper provides a comparative analysis between rural communities and their relationship within the national framework (including the narratives, stereotypes and assumptions that are fostered when discussing these communities) and developing countries that are attempting to engage at the international level. Among the issues that this paper will examine is whether, some international human rights frameworks (including a rights-based approach to development and the right to development under international human rights law) can be used to create a positive, cohesive framework that allows for Appalachians to have more of a voice when engaging on the national level. Other issues this paper will examine include: the use of the UN’s sustainable development goals as a common baseline to mea...
IRPN: Innovation & Securities Law & Policy (Sub-Topic), 2015
A disclosure -based framework is at the heart of U.S. securities regulation. This paper examines ... more A disclosure -based framework is at the heart of U.S. securities regulation. This paper examines this model’s emphasis on disclosure and discuss why it is inherently flawed. Specifically, the disclosure model is outdated and does not seem to reflect the current trading patterns that dominate the United States’ securities market. Instead, this paper argues that what is required is a radical response to the current trading patterns of American consumers in the securities markets - one that establishes a regulatory framework that examines the trading market as a whole instead of focusing on the disclosures of public companies. This would offer better protection against the problems that led to corporate scandals and crises in the market, including the 2008 recession.
Corporate scandals related to human rights issues have illustrated the hefty cost associated with... more Corporate scandals related to human rights issues have illustrated the hefty cost associated with ignoring humanitarian issues while conducting business. For example, the Royal Dutch Petroleum Company (Shell) has spent tens of millions of dollars related to the Nigerian government’s execution of the "Ogoni 9," which was preceded by a tense relationship between the corporation and Ogoni people of Nigeria. In addition, in India, the Vedanta corporation lost substantial market capitalization following a trial related to its mountain mining activities for its effects on the people of the region. Despite the moral duty that may have compelled action in these examples, it is also clear that a corporation’s (particularly a transnational corporation’s) decision to develop a framework for proactive corporate responsibility is also good business. Assuming the accuracy of this conclusion, this Article questions what role the board of directors should have in formulating this framewor...
Video of George Floyd’s death sparked global demonstrations and prompted individuals, communities... more Video of George Floyd’s death sparked global demonstrations and prompted individuals, communities and institutions to grapple with their own roles in embedding and perpetuating racist structures. The raison d’être of Business and Human Rights (BHR) is to tackle structural corporate impediments to the universal realization of human rights. Yet, racism, one of the most obvious of such barriers, has been a blind spot for BHR. While the field has contended with gender inequality, there have only been tokenistic nods to intersectional harms caused by business activities. The failure to address racism seriously undermines both the promise of BHR generally and specifically the recognized need to redress intersectional harms experienced by women from racialized backgrounds. In this article, three established BHR scholars enter into a dialogue on racism in BHR’s theory and practice. The article is not aimed at providing definitive answers, but instead at asking the questions necessary for un...
In June 2017, Waitrose, a top UK supermarket, pulled its cans of corned beef off the shelves afte... more In June 2017, Waitrose, a top UK supermarket, pulled its cans of corned beef off the shelves after an investigation revealed that the meat might have been produced with slave labor. At the time of the recall, Waitrose was in compliance with the UK Modern Slavery Act, a 2015 law enacted to prevent human trafficking and modern-day slavery. Under the Modern Slavery Act, corporations are required to file annual reports disclosing what action they had taken to eradicate slavery and human trafficking in their supply chains. The Modern Slavery Act was a much-lauded law that is part of the growing trend of States to move the international business and human rights agenda forward. A key component of that agenda involves disseminating the U.N.’s Protect, Respect, and Remedy Framework and implementing the U.N. Guiding Principles, which have been praised by States around the world as a framing mechanism for assessing corporate accountability for negative human rights impacts caused by a corporation’s operations and relationships with its suppliers. This article analyzes whether the business and human rights agenda (as embodied by the Three Pillar Framework and U.N. Guiding Principles) is well served by national laws that focus on disclosure. The article focuses primarily on rules being implemented in the United States at both the subnational and national level; however, it also discusses approaches being used in European jurisdictions such as the United Kingdom and France and the overall trend towards a transparency model for human rights protection made necessary by business activities. The increased use of disclosure-based regulation (and the resulting compliance efforts by corporations) seems to come, at least in part, as a result of the efforts by States to address the duties laid out for them in the U.N. Guiding Principles. As such, it is appropriate to undertake an analysis regarding whether these laws are in fact effectively implementing the Guiding Principles. For decades now, disclosure has been held out as the ultimate curative for almost every corporate woe. The expansion of disclosure initiatives from mere investment-related issues to (increasingly) social-policy issues suggest that this trend will continue. Yet, as this article demonstrates, disclosure right now is at best a temporary stop gap measure that can lead to limited corporate change on the issue of business and human rights. At worst, disclosure is being used by corporations as a way to obtain a reputational advantage without actually making substantive changes – by simply hiding in the light.
Introduction. More of the same? Or introduction of a new paradigm? Karen E. Bravo and Jena Martin... more Introduction. More of the same? Or introduction of a new paradigm? Karen E. Bravo and Jena Martin Part I. Looking Back: The Historical Context of Business and Human Rights: 1. The enterprise of empire: evolving understandings of corporate identity and responsibility Erika R. George 2. The Arab League boycott of Israel: warring histories, international trade, and human rights James J. Friedberg 3. Multi-stakeholder initiatives and the evolution of the business and human rights discourse: lessons from the Kimberley Process and conflict diamonds Atabongawung Tamo 4. Business and human rights after Ruggie's mandate: feasible next steps Alexandra Popova Part II. The Framework: Examining the Relevant Principles that Underlie a Business and Human Rights Agenda: 5. Business, respect, and human rights George G. Brenkert 6. Global need: rethinking business norms Patricia Illingworth 7. Corporate accountability for human rights: from top-down towards a bottom-up approach Jernej Letnar Cernic 8. Living in a material world - from naming and shaming to knowing and showing: will new disclosure regimes finally drive corporate accountability for human rights? Marcia L. Narine 9. Democratizing the global business and human rights project by catalyzing strategic litigation from the bottom up Larry Cata Backer, Nabih Haddad, Tomonori Teraoka and Keren Wang 10. The impact of the 'Ruggie Framework' and the United Nations Guiding Principles on Business and Human Rights on transnational human rights litigation Astrid Sanders 11. The third pillar: remedies, reparations, and the Ruggie principles Jonathan Drimmer and Lisa J. Laplante 12. The evolving business and society landscape: can human rights make a difference? Michael Addo and Jena Martin Part III. Moving Forward: Implementing a Business and Human Rights Agenda: 13. From principles to practice: implementing corporate responsibility for human rights Justine Nolan 14. Business, human rights, and due diligence: an approach for contractual integration Blair E. Kanis 15. Corporate codes of conduct and working conditions in the global supply chain: accountability through transparency in private ordering Meredith R. Miller 16. Transnational businesses, the right to safe working conditions, and the Rana Plaza building collapse: toward a tort-based solution to the global race to the bottom Ashton S. Phillips 17. The United Nations Guiding Principles on Business and Human Rights in the European Union: from regional action to national implementation Humberto Cantu Rivera 18. China's corporate social responsibility with national characteristics: coherence and dissonance with the global business and human rights project Larry Cata Backer 19. Avoiding the resource curse: applying the Guiding Principles in Kenya Nyakundi M. Michieka and Dustin Blankenship 20. Business and human rights: a call for labor liberalization Karen E. Bravo.
Public International Law: Human Rights eJournal, 2021
The global movement towards the adoption of corporate human rights due diligence laws is gaining ... more The global movement towards the adoption of corporate human rights due diligence laws is gaining momentum. Starting in France, moving to the Netherlands, and now at the European Union level, lawmakers across Europe are accepting the need to legislate to require that companies conduct human rights due diligence throughout their global operations. The situation in the United States is very different: on the federal level there is currently no law that mandates due diligence. Civil society organisation International Corporate Accountability Roundtable is stepping into the breach with a legislative proposal building on the model of the Foreign Corrupt Practices Act to prohibit corporations from engaging in grave human rights violations and to give the Securities and Exchange Commission and the Department of Justice the power to investigate any alleged violations. The article discusses this proposal, situating it in the both the domestic and the international business and human rights co...
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