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News@Law, 10/06/2016

News@Law is a selection of the day's news clips regarding Harvard Law School.
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Today's News

Utility Dive
Why insiders think the EPA got the best of the Clean Power Plan hearing last week
The smart money is on the Environmental Protection Agency to prevail as the D.C. Circuit Court reviews its landmark Clean Power Plan, according to experts. But it may not be due to the legal arguments alone...“The petitioners are really focusing on the word ‘source’ and hanging their argument on that word for the most part,” Ari Peskoe, a senior fellow in electricity law at Harvard Law School, told Utility Dive...For Peskoe, attributing the judges’ questioning too much to personal opinion is fraught with peril — it's too much about “trying to get in the heads of the judges,” he said — but he agreed that the fact this case is about climate and carbon, and not another pollutant, could have an impact.
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Pensions and Investments
DC participants share tiny bit of blame for Wells Fargo
An op-ed by senior fellow Stephen Davis. John G. Stumpf, chairman and chief executive officer, Wells Fargo & Co., had some surprising, hidden and unwitting enablers in the fake accounts scandal — participants in defined contribution plans. How? Every year for more than a decade, large institutional investors have voted at the Wells Fargo annual meeting on a critical issue: whether to install an independent chair rather than allow the CEO to keep that job himself, effectively serving as his own boss. The right chair could have added muscle to board oversight. A separate chair is an approach used by 46.5% of 256 medium to large U.S. banks, according to MSCI Inc. The structure provides an extra measure of assurance against the risk of misfires by a chief executive.
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Bloomberg
There’s Brotherly Love, and Then There’s Insider Trading
An op-ed by Noah Feldman. The connection between the law of insider trading and the nature of the sibling relationship may not be immediately obvious -- but the U.S. Supreme Court will consider it Wednesday in what may be one of the most interesting cases of a term that the justices have designed to be boring. Salman v. U.S. turns on whether one brother derives “personal benefit” from providing insider information to another brother who trades on it. Regardless of which answer it chooses, the court will essentially have to offer an analysis of brotherly love -- and what it does for the siblings.
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