Law Review Research Articles

The Evolution of Futures and Options Markets: From Agricultural Roots to High-Frequency Trading

The evolution of futures and options markets from simple agricultural hedging tools to complex financial instruments has been marked by significant technological advancements, particularly the advent of electronic trading and high-frequency trading (HFT). This paper traces the development of these markets, highlighting key milestones and innovations that have shaped their current form. High-frequency trading, while enhancing liquidity and reducing transaction costs, has also introduced significant challenges, including increased market volatility, the potential for market manipulation, and systemic risks, as seen in events like the 2010 Flash Crash. This research provides a comprehensive analysis of the legal and regulatory frameworks governing futures and options markets, with a focus on both Indian and international contexts. It examines the effectiveness of existing regulations in addressing the challenges posed by modern trading practices and explores the need for continuous adaptation in regulatory approaches. Through a detailed review of relevant case laws, statutory provisions, and scholarly literature, the paper identifies gaps in current regulatory practices and proposes recommendations to enhance market transparency, fairness, and stability. The study concludes that while the evolution of futures and options markets has brought undeniable benefits in terms of efficiency and risk management, these markets must be carefully regulated to mitigate the risks associated with high-frequency and algorithmic trading. Adaptive regulatory frameworks, enhanced transparency measures, and international cooperation are essential for ensuring that these markets continue to contribute positively to the global financial system.

Literature Review in Educational Leadership, Policy, and Law within STEM Education

Literature Review in Educational Leadership, Policy, and Law within STEM Education

Colloidal Quantum Dots: 4. Colloidal Quantum Dots and Basic Photoluminescence Laws

A brief review of the well-known laws and rules of photoluminescence is given, and it is shown that these laws usually do not hold for CQD solutions. It has been shown that this is due to a special mechanism for the formation of the luminescent properties of CQDs. The derivation of a new universal law of photoluminescence, applicable to any type of luminophores, which has recently been substantiated theoretically and verified experimentally using the example of CQDs, is presented.

Nurses as Petitioners: A Legal Mapping of State Extreme Risk Protection Order Laws.

Gun violence is a leading public health concern in the US; subsequently, firearm-related violence prevention is a top priority for policymakers. Extreme risk protection order (ERPO) laws are a state-level attempt to reduce gun-related injuries and deaths. These court-issued orders prohibit people found to be dangerous to themselves or others from temporarily purchasing or possessing a firearm. Six states (Colorado, Connecticut, Hawaii, Maryland, Michigan, New York) and the District of Columbia have passed or amended their laws to include nurses as ERPO petitioners. The study's purpose was to conduct a review of state ERPO laws that included nurses as petitioners. Using a legal mapping approach, information on nurse ERPO petitioning was extracted from the seven jurisdictions. ERPO laws with nurse petitioners were passed between 1999 and 2023. Nurse petitioners included advanced practice registered nurse (n = 3), clinical nurse specialists (n = 3), nurse practitioner (n = 3), professional nurse (n = 2), and register nurse (n = 1). Psychiatric/mental health (n = 2) and school nurses (n = 2) were specified. Statutes differed in the handling of disclosed health information as part of the ERPO petition, as well as how health information would be handled by the court (e.g. sealed by the court, confidential by the court, returned to provider/disposed of post-hearing/order.) Three statutes exempted petitioners from civil and/or criminal liability, if petitions were submitted in good faith. Two of these states extended protection from liability to all petitioners, while one only referenced petitioners who were healthcare providers. The study findings have important policy, clinical, and research implications.

A Meta-Analytic Review of Pay Transparency Laws and Their Effectiveness in Reducing Gender Pay Gaps

A Meta-Analytic Review of Pay Transparency Laws and Their Effectiveness in Reducing Gender Pay Gaps

Transcription of 2023 Texas A&M Law Review Symposium: "More Than Sports: What Comes After NIL?"

This transcription presents Jeffrey Kessler's keynote speech at the 2023 Texas A&M Law Review Symposium on NCAA v. Alston and the future ahead.

Sharia Economic Law Criticism on Muhammad Syahrûr’s Hudûd Theory Regarding Bank Interes

n modern economics applied by conventional financial institutions, the interest system is inseparable. Economic system based on sharia principles emerged as a solution to riba-based (usury-based) transactional activities, which in sharia economic law is in the khilafiyyah (dissent) territory amongst scholars regarding whether the conventional bank interest is riba which is prohibited by Islamic law. A figure named Muhammad Syahrûr came up and offered his theory of limits (nazhariyyah al-hudûd) in providing riba limitations in the Quran. This research aims to describe M. Syahrûr's thoughts on bank interest based on his theory of limits, and to analyze it based on the review of sharia economic law (fiqh muamalah mâliyyah). this reseach is understood as a literary study research which is a research on secondary materials. The type of data used in this research is secondary data, which is literature focusing on the thoughts of a figure, which is Muhammad Syahrûr.The result of the research shows that Muhammad Syahrûr's opininion that allows the practice of bank interest based on his theory of limits (nazhariyyah al-hudûd) is a marjûh (weak) opinion, since it is not supported by valid arguments and it also contradicts the opinions of the jumhur ulama (the majority of the scholars).

Personal Loans (PINPRI) in the Review of Positive Law and Islamic Law

This research aims to answer a problem regarding the practice of pinpri loans that have not been registered with the Financial Services Authority and how Islamic law reviews the reasons people make pinpri loans. The research method used is statute approach analysis and comparison. Based on the results of the study the practice of personal loans (pinpri) is a cash loan that has not been registered with the Financial Services Authority is the practice of lending through individuals and has not been registered or even licensed by the Financial Services Authority so that it can be said to be illegal and violates Financial Services Authority Regulation Number 77 / POJK.01 / 2016 concerning LPMUBTI, then in the practice of personal loans (pinpri) there are additional funds and have regulations that are not by the operational system listed in the cash loan rules. In terms of Islamic law, the reason why people practice personal loans (pinpri) is because of urgent needs, easy disbursement, and consumptive behavior, while this is contrary to the concept of Islamic law in qardh theory. Because in the practice of personal loans (pinpri) that have not been registered with the Financial Services Authority, several elements are not by Islamic law, namely usury, gharar, dharar, and zhulm so the law is haram and harms and brings mudharat to the community

Domino Dancing: Mutuality of Obligation and Determining Employment Status in Ireland

ABSTRACT It has taken a while, but what has been described as the first ‘gig economy’ case has been decided by the Irish Supreme Court. Although the case did not involve the use of a platform to organise work, it did require the Supreme Court to rule on the question of the employment status of pizza delivery drivers, all of whom were labelled as ‘independent contractors’ in the contracts between the company and the drivers. The case was taken by Revenue, which contended that the drivers, in fact, should have been classified as employees for tax purposes. The Supreme Court took the opportunity to present a long and detailed judgment on the correct approach to determining employment status, and, in particular, on the role of ‘mutuality of obligations’ in this consideration, with an extensive review of case law from the UK. This analysis discusses the case, with a particular emphasis on the view taken by the Court on mutuality of obligations in the context of ‘casual work’.

Tinjauan Hukum Islam Terhadap Putusan Cerai Gugat Beralasan Suami Terpidana Penjara

This in-conreto legal research delves deeper into the legal basis determined by the Panel of Judges in deciding on a divorce lawsuit because the husband is a convict. The research takes a case that has been determined in one of the Religious Courts in the Special Region of Yogyakarta number 0909/ Pdt.G/2011/PA.BTL (0909). The results are then discussed in more depth according to Islamic law. Through the exploration of the rules of fiqh and the proposals of fiqh as well as interviews with several judges, it can be interpreted that the judge's decision has referred to the interests needed in the family by avoiding the risks that may arise due to the father/husband being sentenced to prison for several years. In the review of Islamic law, the judge has fulfilled the rules of fiqh and followed the fatwa of the agreed-upon fiqh school of thought.

Legal Politics of Changes to Marriage Laws in Indonesia

The research aims to analyze changes to articles in Law Number 16 of 2019 concerning Marriage which are the result of revisions to previous provisions, namely Law Number 1 of 1974 concerning Marriage. This research is a juridical research by analyzing legal politics regarding changes in marriage law using a statutory approach, case approach, conceptual approach, and legal comparative approach. The results of this research are: First, the revision carried out by the government still leaves legal problems, this is based on the decision of the Constitutional Court in several judicial reviews of Law no. 1 of 1974 concerning Marriage. Second, the age limit regulated in Law no. 16 of 2019 concerning Marriage is not yet ideal and synergistic with other statutory provisions. Third, the purpose of the amendment to Law no. 1 of 1974 concerning Marriage is to reduce legal problems in society. On the other hand, the same problems still occurred when the previous provisions were implemented, such as the death rate for girls who married at a young age, the increasing number of requests for marriage dispensations, and the failure to achieve the marriages desired by law. However, changes to the marriage age limit provisions at least attempt to minimize cases of early child marriage in Indonesia.

State Laws Governing the Hiring of Public Health Government Employees, 2023.

Governmental public health agencies have experienced longstanding challenges in recruiting individuals at the state and local level. Understanding civil service laws as they relate to the hiring processes is an important component of recruitment and increasing public health workforce capacity. This study presents state hiring laws and regulations governing the public health government workforce. Legal mapping techniques were employed to collect and code data on current hiring laws governing governmental public health employees across all 50 states. The review of laws included constitutions, statutes and regulations, and searches of administrative code. In 12 states, the laws do not specify civil service exam criteria or they have no mention of civil service exams in the law. Almost a third of states have laws that establish civil service exam requirements without specifying conditions for when exams must be required, or which positions allow which types of exam/criteria. Similarly, almost all of the states that have civil service exams denoted in their laws have unspecified language about whether there are exam fees. Requirements for the maintenance/use of state hiring lists are in place in 36 states and 26 states have a non-public health agency managing this process. Nearly all states (n=48, 96%) require hiring preferences for certain types of individuals, most commonly veterans (n=48, 96%) and family members of veterans (n=30, 60%). No state laws provide hiring preferences for individuals from public health fellowships or special training programs. Key findings suggest that the laws governing the merit system and civil service vary and often lack clarity, which may be difficult for public health agencies and for potential employees to understand, navigate, and successfully recruit key employees. The recruitment and hiring of new governmental public health staff are complicated by the management of hiring by other state agencies and the vague civil service exam requirements and process. Developing preferences for hiring individuals who have additional practical training in public health (eg, public health fellowships and AmeriCorps) should be considered.

Civil Law Review of The Implementation of Franchise Agreements In Indonesia

Franchise agreements have become one of the fastest-growing business models in Indonesia. However, in its implementation, legal problems often arise faced by the parties involved in the franchise agreement. This journal aims to review the implementation of franchise agreements in Indonesia from the perspective of civil law. This review was carried out by analyzing laws and regulations related to franchising, principles of civil law, and the practice of implementing franchise agreements in the field. The study results show that implementing franchise agreements in Indonesia still faces several obstacles, such as: 1) Lack of understanding of the parties to their rights and obligations in the franchise agreement. 2) Weak law enforcement against violations of franchise agreements. 3) The government's role in protecting the parties' rights in the franchise agreement has not been optimal. Based on the study's results, this journal recommends several steps to improve the implementation of franchise agreements in Indonesia: Increasing education and socialization of the parties about their rights and obligations in franchise agreements; Strengthening law enforcement against violations of franchise agreements; and Enhancing the role of the government in protecting the rights of the parties to the franchise agreement.

The Erosion of Privacy in the Digital Age: A Constitutional Challenge in Indonesia

The digital age has revolutionized communication and information access, but it has also brought significant challenges to the fundamental right to privacy. In Indonesia, the legal framework struggles to keep pace with technological advancements, raising concerns about the erosion of privacy protections. This study examines the constitutional challenges and practical implications of digital privacy erosion in Indonesia. This study employs a mixed-methods approach. First, a comprehensive review of Indonesian constitutional law, privacy legislation, and relevant court decisions is conducted. Second, observational data is collected through a survey of Indonesian internet users (n = 500) to assess their privacy awareness, experiences with data breaches, and perceptions of legal protections. Data analysis involves both qualitative legal interpretation and quantitative statistical analysis. The study reveals a significant gap between constitutional guarantees of privacy and the reality of data collection and surveillance practices in Indonesia. Observational data highlights widespread concerns among Indonesian internet users about privacy violations, with a majority experiencing data breaches and feeling inadequately protected by existing laws. Legal analysis indicates that existing legislation is often vague, outdated, and fails to address the unique challenges posed by digital technologies. In conclusion, this study underscores the urgent need for comprehensive legal reforms in Indonesia to protect digital privacy. Constitutional challenges must be addressed through clear and enforceable legislation that aligns with international standards. Additionally, public awareness campaigns and educational initiatives are crucial to empower individuals to protect their personal information in the digital age.

La tensión entre el poder judicial y el poder ejecutivo en la emisión de medidas cautelares innominadas en contra de entidades gubernamentales: un análisis comparativo entre América Latina y Europa continental

The tension between the judicial power ('jurisdictio') and the executive power ('gubernaculum') has long been a contentious issue in the context of issuing unnamed cautionary actions against governmental agencies (Ríos Álvarez, 2015; Tridimas, 2006). This article explores the contrasting approaches to this tension in Latin America and Continental Europe, analyzing the legal and historical foundations, as well as the principles of separation of powers, judicial independence, and individual rights protection within each legal tradition (Cappelletti, 1989; Tridimas, 2006). Historically, Latin American jurisprudence tended to prioritize the protection of governmental prerogatives, hindering the imposition of temporary cautionary measures on the State (Ferrer Mac-Gregor, 2011; Courtis, 2008). Conversely, Continental Europe has seen a more robust evolution of effective judicial control over arbitrary administrative actions, including the development of innovative temporary measures (Caranta, 2018; Tridimas, 2006). Through a comparative analysis, supported by an extensive review of case law, legal frameworks, and academic literature (Guerrero, 2023; Ferrer Mac-Gregor, 2011; Courtis, 2008), this study identifies potential models from European jurisprudence that could facilitate a more balanced interaction between judicial and administrative authorities in the protection of rights in Latin America.

Review of Islamic Law on the Practice of Early Marriage in Limpakuwus Village, Sumbang, Banyumas

Early marriage is still a problem in Limpakuwus Village, Sumbang, Banyumas, especially with 9 couples out of a total of 38 who are married. This village has a belief that getting married before the age of 20 is considered taboo or "ora ilok" by the local community. Field research was conducted to understand the practice of early marriage in this village. This research method involves qualitative descriptive analysis with data collection through interviews and documentation. Primary data is in the form of direct interviews, supported by secondary data from books, journals, theses, texts and articles. The factors that encourage early marriage in this village are low education, beliefs/traditions, self-will, and pregnancy outside of marriage. Of the nine couples, belief or tradition factors dominate. Even though according to Islamic and positive law early marriage is recognized as legal, this practice in Limpakuwus Village, Sumbang, Banyumas is considered legal because it is in accordance with Islamic law and has a marriage dispensation in accordance with Indonesian laws and regulations.

Juridical Study of Bank Secrets Regarding Collective Assets in the Form of Deposits post Constitutional Court Ruling Number 64/Puu-X/2012 Concerning Customer Data and Their Savings for the Purpose of Division of Gono Gini's Property in a Civil Divorce Cases

Joint assets are assets or wealth obtained during the marriage. Even though the property was obtained from the husband's work alone, the wife still has the right to joint property. So joint property, whether the property belongs to the husband or wife, has the same rights and obligations regardless of whether it is registered in anyone's name and all legal actions regarding joint property must obtain the approval of both parties. The type of research used is normative legal research. The issues raised are regarding the juridical consequences of the exception of bank secrecy for joint assets following Constitutional Court Decision Number 64/PUU- X/2012. The result of this research is that the issuance of the Decision of the Constitutional Court of the Republic of Indonesia regarding the Judicial Review of Article 40 of the Banking Law has the juridical consequence that banks can disclose customer data for the purposes of civil cases regarding joint assets in divorce cases, so that the form between the bank and the customer contains a clause regarding prohibitions. For banks to disclose customer information, the application still has to follow the results of the Constitutional Court Decision Number 64/PUU-X/2012 because since that decision, Article 40 of the Banking Law has automatically had its contents changed according to the contents of the MKRI decision resulting from the judicial review of the banking law. Amendments to Article 40 paragraph (1) of the Banking Law as stated in Article 14 number 38 of Law Number 4 of 2023 can be submitted as guidelines for disclosing customer data for judicial purposes in civil cases including general courts and religious courts, which include for judicial purposes regarding joint assets in divorce and in order to fulfill the recovery of assets. From the explanation above, legal certainty can be obtained that after the Constitutional Court Decision Number 64/PUU- Joint assets in a divorce case can demand or reveal bank deposit data from their partner.

THE COMPANIES ACT 71 OF 2008 DOES NOT OUST THE COMMON-LAW DERIVATIVE ACTION FOR CLOSE CORPORATIONS Naidoo v The Dube Tradeport Corporation [2022] ZASCA 14

The Companies Act 71 of 2008 (2008 Act) abolished the common-law derivative action for companies; section 165 of the 2008 Act replaced it with the statutory derivative action (Griggs “The Statutory Derivative Action: Lessons That May Be Learnt From the Past!” 2002 University of Western Sydney Law Review par 1.2; Coetzee “A Comparative Analysis of the Derivative Litigation Proceedings Under the Companies Act 61 of 1973 and the Companies Act 71 of 2008” 2010 Acta Juridica 298). The question that remained was what impact this would have on common-law rights for close corporations that had been incorporated before the commencement of the 2008 Act but which have not converted to companies under that Act. The Supreme Court of Appeal (SCA) judgment in Naidoo v The Dube Tradeport Corporation ([2022] ZASCA 1) provides much-needed clarity on the status of the common-law derivative action for close corporations. The case also provides guidance on how a court will assess whether knowledge of information can be imputed to a third party in their dealings with a close corporation.

Art After Syariat: Sebuah Konsep Seni Rupa dalam Perspektif Syariat Agama Islam

The aim of this research is to describe the boundaries of fine art according to Islamic religious law which gives birth to artistic concepts according to Islamic religious guidelines. The methodology used is a descriptive qualitative method with a literature study approach with data sources in the form of books, research journals, the Koran, hadith books and ulama fatwas. The data analysis technique uses interactive model analysis. The results of the study from several literary sources are a new concept in fine arts that is in accordance with the review of Islamic religious law, namely art after sharia, thus triggering the creativity of artists in creating fine arts in accordance with Islamic law.

Recruitment overhaul of Black athletes in college sport

ABSTRACT The purpose of this study was to examine the recruitment and retention efforts of Black college athletes in football, women’s basketball and men’s basketball by white head coaches at historically white institutions (HWI). This study employed Critical Race Theory (CRT) and the educational tenets of: (1) racism; (2) interest convergence; (3) social construction; (4) differential racialization; (5) intersectionality/anti-essentialism; and (6) unique voice/counter storytelling [Bell, D. (1995). Who's afraid of critical race theory? University of Illinois Law Review, 1995, 893–910; Delgado, R., & Stefancic, J. (2001). Critical race theory: An introduction. New York University Press; Ladson-Billings, G. (2013). Critical race theory: What it is not!. In M. L. Editor, & A. D. Editors (Eds.), The handbook of critical race theory in education (pp. 34–47). Routledge Handbooks Online; Solórzano, D. G., & Yosso, T. J. (2002). Critical race methodology: Counter-storytelling as an analytical framework for education research. Qualitative Inquiry, 8(1), 23–44]. A descriptive multiple case study [Stake, R. (1995). The art of case study research. Sage Publications, Inc.] was designed, and semi-structured interviews were carried out with seven male and three female former college athletes from a Power 5 institution. This study gathered common themes related to former athletes’ intersection of race and gender. The theme of race produced the following subthemes: (1) representation, (2) assimilation, (3) academics and (4) community. Furthermore, the theme of gender produced greater insight in the subtheme of (1) intersectionality. Through the aforementioned themes, the researchers call for a complete overhaul of the current practices of recruiting Black college athletes at HWIs through established offices comprised of researchers and practitioners well versed in providing resources and support for students on and beyond the campus environment.