Boston University law professor Tamar Frankel comments on the increased use in “robo-advisers”—machines that purport to offer investment advice and order the performance of their advice by securities trades. Frankel describes how the Securities and Exchange Commission has responded to the rise in robo-advisers and summarizes some of the legal challenges they present, particularly when used by brokers and by financial advisers.
Guest columnist and UC Hastings adjunct professor Samuel R. Miller contrasts the recent decision by antitrust enforcers in Europe to fine Google $2.7 billion for abusing its dominant position in internet search with the FTC’s decision not to pursue an antitrust case against Google based on similar allegations. Miller argues that the US should shift toward the EU’s position on antitrust law and that such a policy change would not even require any modifications of statutory language.
University of Washington law professor Anita Ramasastry discusses “Greyball,” a private tool Uber reportedly used to identify government inspectors and prevent them from hailing a ride. Ramasastry explains the dangers inherent in allowing minimally regulated private companies such as Uber to have such great power over integral services like transportation, and she calls for greater scrutiny into businesses with such significant market power.
George Washington University law professor and economist Neil Buchanan discusses the U.S. Supreme Court’s decision in Burwell v. Hobby Lobby Stores Inc., particularly whether it effectively compels all companies to adopt beliefs to increase profits and fulfill their fiduciary duties to their owners. Buchanan predicts that either we will see an increasing number of companies take this route to maximize profits, or we will want to investigate why more companies are not pursuing this attractive route to free market salvation.