*Saba Khan is an Honors Scholar and graduated magna cum laude from Touro Law Center in 2017. She previously served as the Articles Editor of the Touro Law Review. Ms. Khan is currently a Director and Regulatory Compliance Counsel at UBS. Prior to UBS, she worked at JPMorgan Chase & Co.
As with the turning of each new Administration, regulatory priorities shift, and that is no different for banking regulations, particularly in the area of securities laws. That being said, we can soon expect the pendulum to swing towards tighter securities regulations, greater oversight, and a higher number of enforcement cases.
When Biden assumed office in January 2021, he nominated Gary Gensler to replace Jay Clayton as Head of the Securities Exchange Commission (SEC) (1). Gensler’s own professional background provides some insight into what lies ahead in the near future. He is a former partner at Goldman Sachs Group Inc., and past Chairman of the Commodity Futures Trading Commission (CFTC) (2). During his time at the CFTC, he implemented new rules and made clear of his goal to “protect the public and market participants through a robust enforcement program.” (3)
In this episode of the Touro Law Review Podcast, our invited guest, renowned attorney, professor and writer, Alan Dershowitz, discusses the relationship between so-called “cancel culture” and the Free Speech Clause of the First Amendment to the United States Constitution. Professor Dershowitz is joined in the podcast by: Prof. Peter Zablotsky as moderator; Georgia Reid, third-year law student and Online Editor of the Touro Law Review; and Professor Jorge R. Roig, who teaches Constitutional Law at the Touro Law Center.
*Steven Neocleous is currently a full-time third-year student at Touro College Jacob D. Fuchsberg Law Center. He last worked for the Nassau County Attorney’s Office in the Municipal Transactional/ Real Estate/ Financial Bureaus. Steven has a passion for sports which inspired him to use his knowledge from Constitutional Law and Sports Law to write this note. He hopes to use his law degree and prior work experience for a position at a real estate or corporate law firm after graduation.
Imagine a situation where you are a star high-school athlete. You recently received a full athletic scholarship to attend a prominent Stanford University, an institution, which you otherwise would not have had the opportunity to attend if it was not for your incredible athletic abilities. However, that is not all the school has awarded you. Not only do you have free housing, but you also have a full meal plan paid for by the University. Following an arduous day of practice, you are tired from all of the hard work you put in while you were basking in the hot summer California sun. All you want is a tasty beverage, so check your bank account and in it, is the image of $10,000 recently deposited by Hanes as payment for having your image on their new T-shirt. While for years, this appeared to be the work of fantasy, the recently passed California Senate Bill 206, more commonly known as The Fair Pay to Play Act, indicates that collegiate athletes are allowed to acquire endorsements and sponsorships while still maintaining athletic eligibility by prohibiting any California postsecondary education institution and athletic association or group to uphold rules, requirements, or limitation on the ability for California student-athletes to use their name, image, or likeness for their own profit.[1] While this decision may be satisfying on its face, its effects on a national scale are threatening the system created for universities in other states, student- athletes in those states, and the NCAA by violating the Commerce Clause and Sherman Anti-Trust Act.
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