Volume IV, Issue II (April 2006) - Columbus School of Law

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$Connected Minds,Connected Cultures:\ Connected Minds$

Due to the number of Americans and of American charities investing in securities markets, 543there needs to be as much protection for them as possible to prevent misconduct. While theprimary burden for protecting investors rests on the SEC, tax laws could be an important sourceof aid. The current tax law is seriously flawed in that it provides a considerable motivation fortaxpayers to retain brokers rather than investment advisors to manage their investment accounts.Brokers are required to meet a level of fiduciary duty that is significantly lower than that ofinvestment advisors, yet brokerage fees are granted preferential tax treatment. At a minimum, theIRC should be modified to treat investment advisory fees and brokerage fees equally as properadjustments to basis. A better alternative would be to amend the IRC to grant preferable taxtreatment for investment advisory fees. Investors deserve investment professionals who are heldto a high level of fiduciary duty; Congress should revise the tax laws with this in mind.543 See Wilkins, supra note 2.90
STUDENT NOTESBUILDING CONSUMER CAPACITY IN BANGLADESH: USAID/NARUCPROJECT FOR REGULATORY CAPACITY BUILDINGBY JASON CZYZ*Through support from the United States Agency for International Development (USAID), theNational Association of Regulatory Utility Commissioners (NARUC) is in the initial stages ofworking with the Consumer Association of Bangladesh (CAB). Founded in 1978, CAB hasworked to protect consumer rights in such vital areas as food safety, women’s health, pricegauging, and environmental sustainability to name a few areas of focus. However, CAB has notbeen involved in energy issues because the energy industry is primarily controlled by theGovernment of Bangladesh (GoB). With the creation of the Bangladesh Energy RegulatoryCommission (BERC), CAB has become more interested in advocating consumer rights in thefield of energy.BERC came into existence through a law passed by the Bangladesh National Assembly in 2003.BERC has the standard powers of an energy regulatory body, their authority covers licensing,tariffs, consumer protection, etc. In April 2004, the GoB appointed two Commissioners and theChairman was appointed in June 2005. The appointment of the remaining two Commissioners isstill pending GoB action. To date, the BERC suffers from a lack of technical staff, their onlystaff consisting of borrowed staff from the utilities BERC is supposed to regulate.NARUC began working with BERC in June 2004, providing technical assistance and training.This collaboration resulted in BERC’s first public hearing, the licensing of several captive powerproducers, and the development of an organization chart and position descriptions. In addition,NARUC and BERC have developed a number of procedural and technical regulations, includinga license regulation.As with many nascent regulators around the world, the BERC is subject to outside resistance,which has hampered its efforts to become fully operational and from asserting its legallymandated authority. Unlike in many developing countries, regulation developed in the UnitedStates because of popular outcry against the pricing practices of monopoly industries, such as therailroads and granaries. In developing countries, regulatory agencies typically develop frominternal political or external (donor) pressure to encourage investment in the energy sector. Thisis not to say that consumer protection is not included in the regulator’s mandate, it just happensthat pressing economic concerns have a tendency to minimize the degree of attention given toconsumer rights. However, there is emerging recognition among donors that more attentionneeds to be given to the “demand side” of regulation: developing credibility in the eyes ofconsumers, including increased participation by civil society in regulatory processes. 544Rationale for Working with CAB*Jason Czyz is Deputy Director of International Programs, NARUC and a first year evening law student atthe Catholic University of America’s Columbus School of Law.544 For example, “When regulation doesn’t work (as planned),” Bernard Tenenbaum, World Bank EnergyWeek 2006.91
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INTERNATIONAL JOURNAL OF CIVIL SOCI
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Letter from the EditorDear Readers,
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TABLE OF CONTENTSIJCSL EDITORIAL BO
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ARTICLESTHE ROLE OF THE ISLAMIC WAQ
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‘a bewildering array of the good,
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[a]lthough civil society organizati
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to integrate economic development a
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duty.’ 55 In contrast to zakāt,
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of such venerable educational insti
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avoiding the appearance of impiety,
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…’ 101 Throughout the Islamic w
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partisan judiciary, a vigilant pres
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number of awqaf for myriad public p
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made over to the plundering hands o
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prescribed by law. 159 Like the 192
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property is not a waqf property or
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VIII. REFERENCESA. Articles/BooksAh
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Meidinger, Errol E, ‘Environmenta
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STUDENT ARTICLESINTERNATIONAL INSTR
Page 39 and 40: interest for the Balkan, minorities
Page 41 and 42: dimension is emphasized with Articl
Page 43 and 44: The Copenhagen document deals with
Page 45 and 46: Historically, the 1946 Constitution
Page 47 and 48: service, or sometimes 239 special f
Page 49 and 50: This position by the Greek governme
Page 51 and 52: a member of the civil state, entitl
Page 53 and 54: Civilization" with headquarters in
Page 55 and 56: term "vinozhito"(rainbow) could pos
Page 57 and 58: declare the party as unconstitution
Page 59 and 60: The cases analyzed below, exemplify
Page 61 and 62: ECHR, and based upon this analysis,
Page 63 and 64: Jabuka in particular, recognized as
Page 65 and 66: the minority still face problems in
Page 67 and 68: BibliographyBooks:BLACK’S LAW DIC
Page 69 and 70: Vlassis Vlassidis, Veniamin Karakos
Page 71 and 72: THE DIFFERING TAX TREATMENT OF INVE
Page 73 and 74: …any person who, for compensation
Page 75 and 76: the assets under management. 437 Th
Page 77 and 78: As a preliminary matter, a taxpayer
Page 79 and 80: Commissioner further summarized the
Page 81 and 82: number of itemized returns. These t
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Page 85 and 86: operate as a fraud or deceit upon t
Page 87 and 88: Policy ConsiderationsIn light of th
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Page 93 and 94: CASE NOTESC A N A D I A N S U P R E
Page 95 and 96: minimum constitutional protection t
Page 97 and 98: objective of ensuring safety in sch
Page 99 and 100: Turning to its impact on courts and
Page 101: tribunals to ensure that an appropr
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Volume IV, Issue II (April 2006) - Columbus School of Law

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