From the Acting Director
Dear Friends, Colleagues and Volunteer Leaders:
I am pleased to send you the first electronic newsletter from the ICJ. We hope it distills information about our activities that you find useful and can skim quickly.
Every year, RAND asks us to identify areas where our research has had the greatest impact. This year ICJ research has influenced the policy debates in the following areas:
- Renewal of Terrorism Risk Insurance Act (TRIA)
- SEC regulation of financial services industries
- Government involvement in flood and wind insurance
- SBA's regulations related to women-owned small businesses on the federal level
- State regulations of senior drivers
- Auto insurance fraud
- Medical malpractice reforms.
For these achievements, I want to thank our dedicated research staff, but also the members of the ICJ Board of Overseers and our Research and Center Advisory Boards, who assist us in so many important ways.
In particular, we welcome Ken Feinberg as the ICJ Board Chair and Brad Brian as Vice-Chair, and thank Sheila Birnbaum for her steadfast service as ICJ Board Chair from 2006 to 2008.
If you have a moment, please send me a note about whether this newsletter is a good instrument for staying in touch several times a year.
All the best,
Fred Kipperman
Acting Director
Announcements
- ICJ is pleased to welcome the following distinguished researchers as adjunct researchers: Jerald Greenberg, Catherine Sharkey and Jonathan Klick.
- ICJ staff team is proud to welcome David Tillipman and Stephanie Tjioe. David will be leading ICJ's development efforts and Stephanie joins the ICJ team as an administrative assistant.
- The Kauffman-RAND Institute for Entrepreneurship Public Policy earned a generous $250,000 grant from the Legatum Institute for Global Development to study the intersection of public policy and entrepreneurship in India and to put on a conference in India related to the research.
- ICJ has produced 20 publications this fiscal year.
- ICJ has the pleasure to host Maria Rudolfovna Voskobitova, a Russian researcher and participant in the U.S.—Russia Experts Forum program. The program is implemented by IREX (International Research & Exchanges Board) and is part of the Bureau of Educational and Cultural Affairs of the United States. The primary goals of the Forum are: to foster dialogue between U.S. and Russian experts on policy issues affecting the relationship between the two nations; to develop a public policy community of U.S. and Russian experts who share common goals and experiences; and to enable Russian institutions to transform research findings into usable policy recommendations.
Highlights
Institute for Civil Justice (ICJ)
Supplying government and private decisionmakers and the public with the results of objective, empirically-based, analytic research
The ICJ Board is proud to welcome new board member, Michele Coleman Mayes. She is the Vice President and General Counsel of The Allstate Corporation and Senior Vice President and General Counsel for Allstate Insurance Company.
Presentations:
Paul Rheingold, ICJ Board of Overseers member and founder of Rheingold, Valet, Rheingold, Shkolnik, & McCartney LLP, spoke about trends in mass litigation on March 19, 2008 at RAND's Santa Monica Office.
Kenneth Feinberg, ICJ Board of Overseers Chairman and founder of The Feinberg Group, LLP, will speak about his experiences as Master of the 9/11 victim's compensation fund on May 20, 2008 at RAND's Santa Monica Office. You can still RSVP for the event.
Recent Publications:
Center for Corporate Ethics and Governance (CCEG)
Improving public understanding of corporate ethics, law, and governance, and to identify specific ways that businesses can operate ethically, legally, and profitably at the same time.
The CCEG Board welcomes Jeff Gearhart, new board member, Senior Vice President and Deputy General Counsel of Wal-Mart Stores, Inc.
The Financial Economics Institute at Claremont McKenna College, in conjunction with the RAND Corporation's Center on Corporate Ethics and Governance, hosted a conference on The Future of Securities Fraud Litigation on Friday, Feb. 8.
The Spring Advisory Board meeting will be May 29 - 30 in New York, featuring presentations on:
- Valuing Corporate Social Responsibility
- Trends in Public Sector Ethics Programming and New Research Opportunities
- Investor and Industry Perspectives on Investment Advisers and Broker-Dealers
- Securities Litigation and the Directors' Labor Market
- Preventing Today's Employees from Becoming Tomorrow's Complainants: Fairness as a Prophylactic against Wrongful Termination Suits
Recent Publications:
Center for Health & Safety in the Workplace (CHSW)
Conducting research and analysis that helps improve worker health and safety and reduce the economic costs of workplace accidents and illnesses. The Center provides rigorous, objective analysis and a neutral venue in which to convene stakeholders from government, industry, and labor.
The CHSW Board of Advisors is actively seeking and evaluating nominations to add new thoughtleaders to the current Advisory Board:
- Christine Baker, Executive Officer, Commission on Health and Safety and Workers' Compensation (CHSWC)
- Tim East, Director of Risk Management, The Walt Disney Company
- John Mendeloff, Director, RAND CHSW
- Cameron Mustard, President, Institute for Work & Health
- Jeff Shockey, Director, Safety & Regional Services, Alcoa
- Frank White, Senior Vice President, ORC Worldwide
- Mike Wright, Director HSE, United Steelworkers
The CHSW is hosting an upcoming conference: Can Better Data Help to Reduce Workplace Hazards? Identifying Promising Options for Data Quality Improvement, June 4, in Washington, D.C.
NIOSH has invited Barbara Wynn to be an independent reviewer in the selection of contractor to provide medical treatment to WTC first responders.
Robert Reville continues to serve on the NIOSH Board of Scientific Advisors.
Recent Publications:
Center for Terrorism Risk Management Policy (CTRMP)
Improving the information available to policymakers and the public about terrorism risk management, liability and insurance.
The CTRMP has had significant impact over the past four years:
- 20 publications, including 12 publications on terrorism insurance
- 7 Congressional briefings
- 16 Congressional newsletters
- 25 meetings with Congressional staff and Federal agencies
- 3 conferences (two in California and one in Washington, DC)
- 12 Congressional floor citations and 9 congressional document requests
- 120 media citations
Recent Publications:
Kauffman-RAND Institute for Entrepreneurship Public Policy (KRI)
To assess and improve legal and regulatory policymaking as it relates to small businesses and entrepreneurship in a wide range of settings, including corporate governance, employment law, consumer law, securities regulation and business ethics.
A KRI Book Launch and Luncheon was held on December 10, 2007, at RAND's Santa Monica office. The purpose of the event was to highlight research findings of the book, "In the Name of Entrepreneurship?" as well as to obtain input on the future research agenda and future directions for KRI. A short presentation was given by Susan Gates, Director of KRI, followed by a moderated audience discussion.
Recent Publications:
UCLA-RAND Initiative
Conference: Transparency in the Civil Justice System, was held at UCLA School of Law on November 2, 2007. Researchers at the RAND Institute for Civil Justice and UCLA School of Law continue to collaborate on an analysis of the issue of transparency, both its advantages and disadvantages, in many aspects of the civil justice system.
Collaborative Publication: Papers presented at the Transparency in the Civil Justice System conference will be collected in a book that will be released at an event on Capitol Hill in Summer 2008.
ICJ on the Hill—Recent Congressional Activities
Better Understanding the Health Insurance Issues that Small Firms Face
Presented by Susan Gates and Christine Eibner
April 4, 2008
11:00 A.M. - Noon
304 Cannon House Office Building
more info »
How Does Sarbanes-Oxley Affect Firms' Decisions to Stay in the Public Market or Go Private?
Presented by Pinar Karaca-Mandic
February 25, 2008
1:00 P.M. - 2:00 P.M.
304 Cannon House Office Building
more info »
Regulating Senior Drivers: Are New Policies Needed?
Presented by Seth Seabury
October 25, 2007
10:00 A.M. - 11:00 A.M.
304 Cannon House Office Building
more info »
ICJ in the Public Eye—Recent Presentations
May 21-24 at the 40th Symposium on the Interface - INTERFACE 2008 RISK: Reality, Sid Dalal will be the keynote speaker for this key conference which brings researchers from Computer Science, Statistics and Knowledge discovery fields. His presentation is on Risk Analysis and Detection of Nuclear Material in Containers Entering US: It's Not Computing Prowess Alone. The event will be hosted by the National Institute of Statistical Sciences, in Durham, NC and sponsored by the Interface Foundation of North America, Inc.
May 16-17 at the 2008 American Law and Economics Association Meeting, Seth Seabury to present at the meeting being held at Columbia Law School in NYC.
April 14, at the 2008 Lifesavers National Conference on Highway Safety Priorities at the Oregon Convention Center in Portland, Oregon, Seth Seabury presented on "How Risky are Older Drivers?".
April 10 at the Integrated Benefits Institute (IBI) Research Council annual meeting in San Francisco, California, Seth Seabury presented "Can Employers Reduce the Duration of Work-Injury Absences?".
Lloyd Dixon and Fred Kipperman presented RAND's research on terrorism insurance at the AIG Risk Management Forum on Feb. 28.
January 2008, Eric Helland spoke at Emory Law School on the impact of securities litigation on the market for directors.
December 14 - 15, 2007 at the "The Globalization of Class Actions" conference at the University of Oxford's Centre for Socio-Legal Studies, Nick Pace's presentation of a comprehensive description of class action litigation in America, along with the other country reports as well as papers and commentary contributed by the conference's speakers and chairs, will be published in the Annals of the American Academy of Political and Social Sciences in January 2009.
Noreen Clancy presented to the Certified Financial Planners Board of Standards at their board meeting in DC, as well as the Asset Management Group in Boston. She also participated as a panel member at the North American Securities Administrators Association (NASAA) Public Policy Conference on April 1 in DC.
Angela Hung participated in a panel discussion on "Cutting Through the Confusion: The Future of Investment Adviser Regulation" at the North American Securities Administrators Association (NASAA) Annual Public Policy Conference on April 1, 2008 in Washington, DC. NASAA is the organization for state securities regulators. Additional speakers at the conference included Christopher Cox, Chairman of the SEC, and Senator Jack Reed.
Acknowledgements and many thanks...
- To Bob Peck for his help in coordinating our recent survey of attorneys related to non-economic damage caps
- To Sandra Phillips for her service to the ICJ Board
- To Dr. Richard Anderson and Lisa Maas for their help in improving the data collection related to the patient safety and medical malpractice project
- To Kim Brunner, Don Morley and Dawn Haghighi for their feedback and assistance on our ADR alternative dispute resolution practices survey
- To Eric Landau and Vince Capucci for serving as panelists and sponsors at the The Future of Securities Fraud Litigation conference on Feb. 8
- To Paul Rheingold and Ken Feinberg for agreeing to be featured as part of our ICJ Policy Breakfast Series
ICJ in the News—Recent Media Citations
- 4/14/2008: SBA Loans for Women: Women's Procurement Program - RAND study cited (NuWire Investor)
- 4/8/2008: W.R. Grace to Settle Asbestos Claims For $1.8 Billion, Start New Chapter - RAND study cited (Washington Post)
- 4/8/2008: Graham: Not a GOP version of Edwards - RAND study cited (Charlotte Observer)
- 4/6/2008: Get set for merger pitch - RAND study cited (Pittsburgh Post-Gazette)
- 4/4/2008: Analysis: Many hurdles stand before ambitious plan - RAND research cited (Pittsburgh Post-Gazette)
- 4/3/2008: Pittsburgh mayor supports consolidation, even if his job is eliminated - RAND study cited (Pittsburgh Business Times)
- 3/24/2008: The economy: US and the world - RAND research cited (Online Journal)
- 3/21/2008: Thoroughly Modern Do-Gooders - RAND study mentioned in op-ed (New York Times)
- 3/17/2008: CFP Board's new chief executive defends expansion of his powers behind dissent - RAND study cited (InvestmentNews)
- 3/11/2008: Are women still 'disadvantaged'? - RAND SBA study cited (Fortune Small Business)
- 3/10/2008: Round Table: Regulation - Will Rand report force the SEC's hand? - RAND SEC study featured (InvestmentNews)
- 3/3/2008: Tom Orecchio:NAPFA chief takes aim at Rand report, SRO idea, 12(b)-1 fees, advisory tax - RAND report challenged (InvestmentNews)
- 3/2/2008: How to make sure your financial advisor works for your interest, not his - RAND mentioned in commentary (Austin American-Statesman, TX)
- 3/1/2008: Deconstructing Rand - RAND report challenged (Financial Planning)
- 3/1/2008: Why Can't a Woman Be More Like a Man? - RAND study cited (The American)
- 2/29/2008: Debating the Rand Report - RAND study featured (On Wall Street)
- 2/29/2008: Shut Out? - RAND SBA study cited (Northeast Pennsylvania Business Journal)
- 2/26/2008: Two decades after oil spill, Alaskans still await 'new start' - RAND study cited in opinion piece (USA Today)
- 2/26/2008: Loose Change: What's Ahead? - RAND study cited (Fort Worth Star-Telegram)
- 2/8/2008: Senators blast rule for woman-owned businesses - RAND SBA study cited (Federal Computer Week)
- 2/7/2008: A big fight over small business - RAND SBA study cited (The Hill)
- 2/7/2008: Business leaders asked to help lower drop-out rate - RAND study cited (Madison County Journal, MS)
- 2/4/2008: Push for adviser SRO lacks factual underpinnings - RAND study cited (InvestmentNews)
- 2/4/2008: Opinion 1: SBA Works To Level Playing Field For Women - RAND SBA study cited (Worcester Business Journal)
- 2/1/2008: DROWNING IN DISCLOSURE: A new study finds that disclosure documents are too complicated; - RAND study cited (On Wall Street)
- 2/1/2008: RAND investor study cited (Kiplinger Retirement Report)
- 2/1/2008: A new threat to independence - RAND SEC study cited (Financial Planning)
- 1/30/2008: January Odds N' Ends - RAND SEC study featured (CCH Wall Street, NY)
- 1/30/2008: SBA Accused of Slighting Women - RAND SBA study cited (bMighty.com)
- 1/30/2008: Senators push to scrap limits on women's procurement program - RAND SBA study cited (GovExec.com)
- 1/30/2008: SBA set-asides fight goes to Senate - RAND SBA study cited (Fortune Small Business)
- 1/29/2008: Sarbox Stings Small Biz, but How Much? - RAND small business study featured (CFO.com)
- 1/28/2008: Investors Fuzzy on Adviser, Broker Differences - RAND study cited (Securities Industry News)
- 1/23/2008: Show of Force: It's not the law, but the execution of the law - RAND study cited in opinion piece (Philadelphia City Paper)
- 1/22/2008: SEC Report Says Disclosure Not Working - RAND SEC study cited (CCH Wall Street, NY)
- 1/21/2008: Women businesses face rule change - RAND report mentioned in letter to the editor (Chicago Tribune)
- 1/21/2008: Rand report asked wrong questions, reached wrong conclusions - RAND report challenged (InvestmentNews)
- 1/18/2008: Government work - RAND SBA study cited (The Jacksonville Business Journal)
- 1/18/2008: How to help women owned businesses - RAND study cited in opinion piece (The Mountain Mail, CO)
- 1/16/2008: SBA plan angers women - RAND study cited (Miami Herald)
- 1/15/2008: Broker's World: Tips For Effective Client Meetings - RAND report cited (CNN/Money.com)
- 1/14/2008: SIFMA suggests self-regulator for adviser-only firms - RAND SEC study cited (InvestmentNews)
- 1/11/2008: Industry: No Immediate Changes after SEC Study - RAND SEC study featured (CCH Wall Street, NY)
- 1/11/2008: Letters: debunking some anti-death penalty myths—1991 RAND study cited in opinion piece (Philadelphia Daily News)
- 1/10/2008: A Partnership Takes Shape - RAND/UCLA partnership featured (Lawdragon)
- 1/9/2008: The case for firing your broker - RAND SEC study cited (Bankrate.com)
- 1/9/2008: NAPFA slams RAND report findings - RAND SEC study challenged (InvestmentNews)
- 1/7/2008: FPA wants round table on RAND report - SEC study discussed (InvestmentNews)
- 1/7/2008: Regulatory loose ends move to front burner in new year - RAND report cited (InvestmentNews)
- 1/7/2008: Advice market is a muddle, SEC study finds - RAND report cited (InvestmentNews)
- 1/6/2008: NYPD's historic feat should quiet critics - RAND study cited (New York Daily News)
- 1/5/2008: Broker? Adviser? Clients OK either way - RAND mentioned in briefs section (Southwest Florida Herald Tribune)
- 1/4/2008: FPA Requests Roundtable for RAND Report Findings - RAND study cited (Financial Planning)
- 1/4/2008: Economy: Broker Role Misunderstood - RAND study mentioned (Washington Post)
- 1/4/2008: Blend rules for brokers, advisors, SEC urged; Minor Differences - RAND study cited (National Post, Canada)
- 1/3/2008: SIFMA Responds To SEC's Rand Study - RAND SEC study featured (Targeted News Service)
- 1/3/2008: SEC releases report on investment advisor, broker-dealer industries - RAND study cited (Investment Executive, Canada)
- 1/3/2008: SEC report sheds light on B-D rule - RAND study cited (InvestmentNews)
- 1/3/2008: Rand Study of Advisor, B/D Industries Is Out - RAND study featured (Investment Advisor Magazine)
- 1/3/2008: Investment advisers, brokers blurred, Rand says - RAND report featured (MarketWatch)
- 1/3/2008: SEC Publishes Text of Rand Report on Investment Adviser - RAND study featured (Hedgeco.Net)
- 1/3/2008: U.S. financial professionals oversight outdated-RAND - RAND study highlighted (Reuters)
- 1/3/2008: Study finds investors confused about brokers' and advisers' roles, but happy with service - RAND study cited (Associated Press)
