Faculty in the News
Paul Rose Media Hits
The following is a list of selected media coverage for Paul Rose. The links below will direct you to sites that are not affiliated with the Moritz College of Law. They are subject to change, and some may expire or require registration as time passes.
Professor Paul Rose's report titled "The Importance of Cost-Benefit Analysis in Financial Regulation" was quoted in an article in The Financial. "Financial regulators, especially in the context of Dodd-Frank, can and should ground their rulemaking in robust cost-benefit analysis in order to arrive at more rational decision-making and efficient regulatory action as well as to promote good governance and democratic accountability,” wrote Rose and (Christopher) Walker in the report. “The SEC’s experience with cost-benefit analysis, both in court and also in practice, provides an important lesson for other financial regulators."
When news broke that Bank of America was settling a pending suit related to its acquistion of Merrill Lynch, NPR went to its All Things Considered archives to find Professor Paul Rose's prediction on the case when it was originally filed. "You'll see a settlement often coupled with some sort of corporate governance change or something that they feel is really important," he said.
Professor Paul Rose's recent paper on political manipulation of foreign sovereign wealth funds was quoted extensively aiCIO.
Professor Paul Rose was quoted in a Global Financial Strategy article about the rapid growth in sovereign wealth funds and issues around transparency that have sparked fear over the safety of investing in the funds. Rose was quoted about the validity of that fear: “Ohio State University Moritz College of Law assistant Professor Paul Rose, who has testified in front of the US Senate on the matter of SWFs, says that they have a, perhaps unfounded, reputation for creating trouble. Rose says: ‘Before the financial crisis, I wouldn’t use the word fear to describe SWFs, but concern. People saw sovereign wealth funds investing and thought there might be a political motive, there was certainly a lot of suspicion.’”
Professor Paul Rose was featured in a broadcast of “All Things Considered” on NPR regarding a lawsuit filed against Bank of America. Rose said: “Settlements are actually higher when you have public pension funds involved in a securities class action lawsuit. Furthermore, since again, they are often still invested in the company while they're bringing a suit for the sale of some of their shares, they often are not trying to bring the company down by any means.”
Professor Paul Rose was quoted in a Columbus Dispatch story regarding a lawsuit led by the Ohio Attorney General against Bank of America. The story states: “‘This isn't just a big case due to the amount of money but is also an opportunity for Main Street to stand up against Wall Street,’ said Paul Rose, a professor at Ohio State University's Moritz School of Law who specializes in securities and corporate law.”
Professor Paul Rose was quoted in an interview on NPR regarding the Attorney General Richard Cordray filling a complaint against Bank of America and its executives. In the interview, Rose states: “You see the attorney general really drawing attention to the fact he’s bringing this case, you can’t help think there’s some political motivation behind that. But even if there’s political motivation, this is the kind of case he would pursue and that he should be obligated to be interested in.”
Professor Paul Rose was quoted in an Associated Press article regarding Attorney General Richard Cordray filling a complaint against Bank of America and its executives. The story states: “Paul Rose, an Ohio State law professor and securities litigation expert, believes the lawsuit has merit but also spots political undertones. ‘I don't think it's necessarily a weak case by any means, and I don't think it's brought only for political purposes,’ Rose said”
Professor Paul Rose was quoted in a Law360 story regarding the scandal involving Bernard L. Madoff’s reported Ponzi scheme. “You’ll see a host of new regulations. I’m sure we’ll see that,” Rose said. “I think the SEC, especially if we see more like Madoff, will lose the benefit of the doubt and Congress will tell them, ‘This is the way we want to regulate hedge funds.’” (Subscription required)
Professor Paul Rose was quoted in an Investment Advisers Week story about what Barack Obama may mean for the financial services industry. The story states: “‘In the long term the industry will continue to thrive,’ believes Rose. ‘Demographics remain in the industry's favor, but the regulatory changes will shake up the market and create winners and losers. Some firms will struggle. Smart and agile advisers and firms will do just fine.’” (Subscription required).
Professor Paul Rose was quoted in a Law 360 article regarding the U.S. Securities and Exchange Commission and what its plan should be in the midst of a financial crisis. The story stated: “The perception that the SEC is engaged and assertive can have a practical, calming effect on otherwise volatile markets, noted Paul Rose, an assistant professor of law at The Ohio State University's Moritz College of Law.” (Subscription Required)
Professor Paul Rose was quoted in a story in Les Echos, a French daily business newspaper. The story involved sovereign wealth funds, and Rose discussed the sovereign wealth fund code of conduct agreed to by Abu Dhabi, Singapore, and the Treasury Department.
Professor Paul Rose was quoted in a Financial Week story regarding the Ontario Teachers' Pension Plan's decision to pay $46 million for proxy adviser Glass Lewis. "It's definitely a positive for Glass Lewis to get out from under Xinhua, but they may have just traded problems," said Paul Rose, a law professor at Ohio State University. "I wonder if the mutual funds will view their advice as favorably as they used to."
Professor Paul Rose was quoted in a Financial Week story about Institutional Shareholder Services possibly being interested in purchasing Glass Lewis, a proxy advisor. “Being public brings transparency, but transparency could be a good thing,” said Paul Rose, a law professor at Ohio State University who was interviewed for the GAO report. “ISS has already been very careful about making things clear for its clients. Just being under the SEC’s watch, and scrutinized more thoroughly, will help its reputation.”
Professor Paul Rose was quoted in a story in The Deal regarding the proxy advisory firm Institutional Shareholder Services Inc. The story says: “Who governs the governance industry? No one, it seems. While the Securities and Exchange Commission has rules on conflict prevention for governance raters in proxy voting, there is no statutory duty of care specifically applicable to governance advisory work, according to Paul Rose, assistant professor at Ohio State University's Michael E. Moritz College of Law, who studied the industry.” (Subscription required.)
Professor Paul Rose was quoted in a Financial Week story regarding a government report that found no conflicts in the business of proxy adviser Institutional Shareholder Services. “If a large institutional investor did, in fact, solely rely on a proxy firm’s recommendations, would you expect that firm to admit it?” Rose said. “The investors almost have to say it’s just one of many tools and so on to appear that they’re doing their own due diligence.”
Professor Paul Rose was quoted in the August edition of California Lawyer magazine. "Growth is being fed by recent regulations requiring mutual funds to reveal how they vote their street shares, by institutional investments in developing countries, and by exchange rules—scheduled to become effective January 2008—that eliminate broker discretionary voting in director elections," Rose says. "In all these cases, proxy advisors provide cover, though it's still not clear if following their advice satisfies a pension fund's fiduciary duties."