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Article
Publication date: 8 April 2021

Russ Ryan, Matthew H. Baughman, Carmen J. Lawrence, Aaron W. Lipson, Richard H. Walker, Jessica Rapoport, Katie Barry and Scott Hiers

To analyze the impact of recent legislation that amended the Securities Exchange Act of 1934 to expressly empower the U.S. Securities and Exchange Commission (SEC) to seek…

Abstract

Purpose

To analyze the impact of recent legislation that amended the Securities Exchange Act of 1934 to expressly empower the U.S. Securities and Exchange Commission (SEC) to seek disgorgement in federal district court proceedings and to codify applicable statutes of limitations.

Design/methodology/approach

This article provides an overview of the authors’ prior work analyzing courts’ treatment of SEC disgorgement and summarizes how the scope of the remedy has evolved since Kokesh v. SEC (2017). Then, the article analyzes the changes to the Securities Exchange Act of 1934 contained in Section 6501 the 2021 National Defense Authorization Act (NDAA), which statutorily empowered the SEC to seek and obtain disgorgement in federal court actions. Finally, the authors discuss the impact of the legislation on the Supreme Court’s decisions in Kokesh and Liu v. SEC (2020).

Findings

The availability and appropriateness of SEC disgorgement have been the subject of vigorous debate. Just as courts began to iron out the contours of SEC disgorgement in the wake of Kokesh and Liu, Congress intervened by granting to the SEC explicit statutory authority to seek a remedy traditionally obtained at equity. In passing this legislation, Congress answered some questions that remained after Liu but also raised many new ones. These new questions will likely take years to resolve through subsequent litigation and potentially additional legislation.

Originality/value

Original, practical analysis and guidance from experienced lawyers in financial services regulatory and enforcement practices, many of whom have previously worked in the SEC’s Division of Enforcement.

Details

Journal of Investment Compliance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1528-5812

Keywords

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Expert briefing
Publication date: 17 August 2017

The debate on new rules authorising the use of military force.

Details

DOI: 10.1108/OXAN-DB223850

ISSN: 2633-304X

Keywords

Geographic
Topical
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Expert briefing
Publication date: 18 July 2019

Esper’s confirmation, which is highly likely, will end the longest period in which the Pentagon has lacked a permanent secretary. The leadership vacuum in the Defense

Details

DOI: 10.1108/OXAN-DB245270

ISSN: 2633-304X

Keywords

Geographic
Topical
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Article
Publication date: 14 December 2018

Chelsea Sandra Lee Arnold

Sexual misconduct (sexual assault and sexual harassment) in the US military is a long-standing problem. The military has implemented many policies and programs to address…

Abstract

Purpose

Sexual misconduct (sexual assault and sexual harassment) in the US military is a long-standing problem. The military has implemented many policies and programs to address sexual misconduct in its ranks. The purpose of this paper is to examine how the processes of military sexual misconduct policy and programs have evolved since the 1940s.

Design/methodology/approach

Punctuated equilibrium and multiple streams theories were the guiding frameworks for this process analysis of the policies and programs implemented to address military sexual misconduct based on existing literature, news media and press.

Findings

Three punctuations are found in military sexual misconduct policy that demonstrate large-scale departures from the periods of equilibrium as the result of either a significant sexual misconduct allegation or new survey findings revealing sexual misconduct prevalence rates. In between these major-issue defining events, incremental policy change has occurred resulting in a period of stasis or return to the status quo requiring correction. Despite returns to stasis, each policy punctuation has built on the prior punctuation, generating new military directives, policies and programs.

Originality/value

Using the lenses of punctuated equilibrium and multiple stream theories, this paper shows how the processes of US military sexual misconduct policies and programs have evolved. The US military and militaries globally can utilize these policy frameworks to help predict future patterns of military sexual misconduct and improve responses to these problems.

Details

International Journal of Sociology and Social Policy, vol. 39 no. 3/4
Type: Research Article
ISSN: 0144-333X

Keywords

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Executive summary
Publication date: 22 July 2020

UNITED STATES: NDAA fight will heat up this week

Details

DOI: 10.1108/OXAN-ES254086

ISSN: 2633-304X

Keywords

Geographic
Topical
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Executive summary
Publication date: 2 July 2020

UNITED STATES: Trump will repeat NDAA veto threat

Details

DOI: 10.1108/OXAN-ES253686

ISSN: 2633-304X

Keywords

Geographic
Topical
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Executive summary
Publication date: 25 June 2020

UNITED STATES: Senate will move on to defence bill

Details

DOI: 10.1108/OXAN-ES253522

ISSN: 2633-304X

Keywords

Geographic
Topical
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Article
Publication date: 13 June 2018

Hyunkang Hur

The purpose of this paper is to estimate the impact of a pay-for-performance (PFP) rule change on US Department of Defense (DoD) employees’ job satisfaction by looking at…

Abstract

Purpose

The purpose of this paper is to estimate the impact of a pay-for-performance (PFP) rule change on US Department of Defense (DoD) employees’ job satisfaction by looking at changes in the DoD’s National Security Personnel System.

Design/methodology/approach

The data for the analysis are derived from the 2002, 2004, 2006 and 2008 Federal Human Capital Survey. A difference-in-differences (DID) quasi-experimental methodology was used to examine the effect of a PFP rule change on DoD employee job satisfaction. The Department of Air Force and Navy are analyzed as a proxy for the DoD. This study also undertakes a subgroup analysis strategy to understand the effect of PFP systems on specific subgroups (classified by gender, race and supervisory status).

Findings

This study’s results indicate that the overall effect of the introduction of a new PFP rule at DoD is a decrease of approximately 7.9 percentage points in employee job satisfaction, which is a substantial negative effect. In addition, this paper further finds that DoD’s PFP system has widened the gender gap in job satisfaction at DoD.

Originality/value

This study contributes to both the theoretical and the empirical understanding of PFP systems and public employee work morale and attitudes.

Details

International Journal of Public Sector Management, vol. 31 no. 6
Type: Research Article
ISSN: 0951-3558

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Article
Publication date: 10 April 2019

Erika Lee King and Diana M. DiNitto

The US military depends on women to meet recruiting goals, but women participate at lower rates than men. Theorists suggest that military and family policies affect…

Abstract

Purpose

The US military depends on women to meet recruiting goals, but women participate at lower rates than men. Theorists suggest that military and family policies affect women’s lower participation. Research has confirmed the impact of policy changes on women’s military service during specific time periods. The purpose of this paper is to examine how and when military policies affecting women developed over the course of history, exploring two related hypotheses: first, when women’s military participation is vital, policies affecting their military and family roles punctuate in tandem, and second, cultural values impact policy solutions to reconcile women’s roles.

Design/methodology/approach

Punctuated equilibrium and a women’s military participation theory informed the hypotheses. US Census and Defense Department data were used to identify periods of service when women’s military participation was vital. Historical policies were mapped and analyzed to identify policy patterns and themes affecting women’s military participation 1895–2015.

Findings

Evidence supports both hypotheses. When women are needed during wartimes, policies simultaneously encourage their service and regulate their family roles. However, policies evolved from separating servicewomen’s roles prior to the 1970s (e.g. prohibiting motherhood), to supporting their families (e.g. maternity leave) – a shift precipitated by sweeping changes in broader society and the military’s change from the draft to an All-Volunteer Force.

Originality/value

Findings elucidate the link between military and family policies affecting US women’s military participation and retention. Results may inform policy advocacy aimed at optimizing the US Department of Defense’s diversity efforts.

Details

International Journal of Sociology and Social Policy, vol. 39 no. 5/6
Type: Research Article
ISSN: 0144-333X

Keywords

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Book part
Publication date: 20 December 2013

Susan Maret

In this chapter, I suggest three conceptual tools developed by William R. Freudenburg and colleagues that characterize the failure of institutions to carry out their…

Abstract

In this chapter, I suggest three conceptual tools developed by William R. Freudenburg and colleagues that characterize the failure of institutions to carry out their duties – recreancy, atrophy of vigilance, and bureaucratic slippage – are of use beyond environmental sociology in the framing of the September 11, 2001 disaster. Using testimony and findings from primary materials such as the Senate Select Committee on Intelligence and House Permanent Select Committee on Intelligence Joint Inquiry hearings and report (2002, 2004a, 2004b) and the National Commission on Terrorist Attacks Upon the United States (2004) alongside insider accounts, I discuss how Freudenburg’s tools have the potential to theorize institutional failures that occur in national security decision making. I also suggest these tools may be of particular interest to the U.S. intelligence community in its own investigation of various types of risk and failures.

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