Supreme Court Upholds Affirmative Action Program at University of Texas. Abigail Fisher, right, with Edward Blum, director of the Project on Fair Representation, left the Supreme Court in Washington after oral arguments in her case last December. Her case argued the University of Texas, Austin, had denied her admission based on her race.
Insider Trading. Insider trading is a poorly defined concept with roots in adverse selection theory and the efficient market hypothesis (EMH). The popular notion is that insiders have an unfair advantage because they possess materially significant and non-public information â an informational asymmetry.
The following position statement has been approved by the CREC and is in effect. The statement clarifies what is a material fact, the definition of a known material fact, and what situations may psychologically impact or stigmatize property that should not be disclosed. Review the position statement for more information. CP-46 Commission Position on Broker Disclosure of Adverse Material Facts. Brokers must disclose known adverse material facts. In all real estate transactions, brokers are obligated to disclose known adverse material facts to all of the parties involved in the transaction.