W&L Law’s Shelby Publishes Article in California Law Review Professor Cary Martin Shelby published "Profiting From Our Pain: Privileged Access to Social Impact Investing."

By Peter Jetton
August 31, 2021

Washington and Lee law professor Cary Martin Shelby has published an article in the California Law Review. The article, “Profiting From Our Pain: Privileged Access to Social Impact Investing,” explores the trend of social impact investing, and examines a concern that federal securities laws’ distinction between public and private indicators may reduce transparency and exclude affected community members.

“Scholars have focused on how social impact investing should be measured and disclosed. However, they have paid limited attention to whether federal securities laws’ antiquated distinctions between public and private indicators—or rather its public-private divide—contributes to the harms that poorly overseen social impact investments can cause. This Article seeks to fill this scholarly gap by exploring how this public-private divide gives rise to the possibility that social impact investing will lead to exploitation,” Shelby writes.

The article is available online at the California Law Review website.

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