REGULATORY ENFORCEMENT UNDER NEW YORK’S MARTIN ACT: FROM FINANCIAL FRAUD TO GLOBAL WARMING

There is also a lot of talk about the use of the Martin Act in the investigation and possible prosecution of financial AND real-estate fraud by New York State miscretins. My New York State taxes in action! smile grin
Here is much more than most want to know about the Martin Act, including why some consider it too broad and powerful, even compared to RICO. Apparently just the threat of a Martin Act investigation often lead to instant agreement to large plea bargains. nono grin

TAT

NEW YORK UNIVERSITY JOURNAL OF LAW & BUSINESSVOLUME 14
SUMMER 2018 NUMBER 3
REGULATORY ENFORCEMENT UNDER NEW YORK’S MARTIN ACT: FROM FINANCIAL FRAUD TO GLOBAL WARMING
RICHARD A. EPSTEIN*INTRODUCTION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .806I. THE UNLEASHING OF THE MARTIN ACT. . . . . . . . . . .807II.
THE MARTIN ACT,THE COMMON-LAW ACTION FOR DECEIT, AND THE FEDERAL SECURITY AND EXCHANGE ACTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .819A.
The Origins of the Martin Act. . . . . . . . . . . . . . . . .819B.
The Common Law of Deceit. . . . . . . . . . . . . . . . . . .822C.
Basis of Liability: Fraud, Recklessness, Negligence,and Beyond. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .823D.
Statements of Fact: Materiality, Omissions,Opinions, and Predictions. . . . . . . . . . . . . . . . . . . . .8291.
Materiality. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8302.
Omissions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8363
Statements of Fact and Opinion. . . . . . . . . . . .8384.
Predictions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .844E.
Causation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .845F.
Privity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .849


The Martin Act


There's nothing wrong with thinking
Except that it's lonesome work
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