Jonathan R. Macey

Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law


Jonathan R. Macey is the Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law at Yale University, and Professor in the Yale School of Management. Professor Macey is the author of several books including the two-volume treatise, Macey on Corporation Laws, and co-author of two leading casebooks, Corporations: Including Partnerships and Limited Liability Companies and Banking Law and Regulation.

FULL BIOGRAPHY

Contact Information


Yale Law School

P.O. Box 208215

New Haven, CT 06520

Education & Curriculum Vitae


J.D., Yale Law School, 1982

A.B., Harvard University, 1977

Courses Taught


  • Accounting, Finance, and Law
  • Banking Law and Regulation
  • Business Organizations
  • Corporate Governance: Seminar
  • Financial Institutions: Legal and Economic Perspective
  • Financial Institutions and Capital Markets
  • Financial Markets and Corporate Law Clinic
  • Ethics in Law and Markets
  • Law, Economics, and Organization
  • The Law and Regulation of Banks and Other Financial Intermediaries
  • Legal Practicum

Jonathan R. Macey is Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law at Yale University, and Professor in the Yale School of Management. From 1991 – 2004, Professor Macey was J. DuPratt White Professor of Law, Director of the John M. Olin Program in Law and Economics at Cornell Law School, and Professor of Law and Business at the Cornell University Johnson Graduate School of Business. Professor Macey earned his B.A. cum laude from Harvard in 1977, and his J.D. from Yale Law School in 1982, where he was Article and Book Review editor of The Yale Law Journal.  In 1996, Professor Macey received a Ph.D. honoris causa from the Stockholm School of Economics.  Following law school, Professor Macey was law clerk to Judge Henry J. Friendly on the U.S. Court of Appeals for the Second Circuit.

Professor Macey is the author of several books including the two-volume treatise, Macey on Corporation Laws, published in 1998 (Aspen Law & Business), and co-author of two leading casebooks, Corporations: Including Partnerships and Limited Liability Companies (2003 Thomson West), which is in its eighth edition, and Banking Law and Regulation (2002 Aspen Law & Business), which is now in its third edition.  He also is the author of over 100 scholarly articles. His recent articles have appeared in the Banking Law Journal, the University of Chicago Law Review, the Stanford Law ReviewThe Yale Law Journal, the Cornell Law Review, the Journal of Law and Economics, and theBrookings Wharton Papers on Financial Institutions.  He has published numerous editorials in such publications as The Wall Street Journal,ForbesThe Los Angeles Times, and The National Law Journal.

Professor Macey has taught at major universities throughout the world, including Bocconi University (Milan), the University of Tokyo; the University of Toronto; the University of Turin, the University of Amsterdam Department of Finance, and the Stockholm School of Economics, Department of Law. He also has been Professor of Law at the University of Chicago (1990) and Visiting Professor of Law at Harvard Law School (1999). Professor Macey is a Senior Research Fellow at the International Centre for Economic Research (ICER) in Turin, Italy. Professor Macey also serves on the Academic Advisory Board (Comitato Scientifico) of the Associazione Disiano Preite for the study of corporate law (per lo studio del diritto dell’impresa). In 1995, Professor Macey was awarded the Paul M. Bator prize for excellence in Teaching, Scholarship and Public Service by the Federalist Society for Law and Public Policy. In 1996, he received a Ph.D., honoris causa from the Stockholm School of Economics. And in 1998, he received the D.P. Jacobs prize for the most significant paper in volume 6 of the Journal of Financial Intermediation for his paper (co-authored with Maureen O’Hara), “The Law & Economics of Best Execution.”

In 1999 Professor Macey was made an honorary Fellow of the Society For Advanced Legal Studies. In 2000, Professor Macey became a member of the Legal Advisory Committee to the Board of Directors of the New York Stock Exchange. In 2001 Professor Macey was appointed a Bertil Daniellson Distinguished Visiting Professor in Banking and Finance at the Stockholm School of Economics. In 2002 Professor Macey was appointed to the Economic Advisory Board of the National Association of Securities Dealers (NASD). In 2004 Professor Macey was awarded a Teaching Award by the Yale Law Women in recognition of his “commitment to excellence in teaching, mentoring and inspiring.” In 2005 Professor Macey became a member of the Board of Editors of Thomson West Publishing Company.

Wednesday, January 11, 2017


Emails show Wells Fargo kept sales probe to itself for at least 6 months

Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law Jonathan Macey ’82 is quoted in an article about fallout from the Consumer Financial Protection Bureau’s 2015 investigation of Wells Fargo.

Tuesday, January 10, 2017


The dangerous death spiral of IPOs—A Commentary by Jonathan Macey ’82

Jonathan R. Macey is the Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law at Yale University, and Professor in the Yale School of Management.

Thursday, January 5, 2017


Trump picks Wall Street mergers & acquisitions lawyer to be America's top financial regulator at the Securities and Exchange Commission

Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law Jonathan Macey ’82 is quoted in a story about Jay Clayton, nominated by Donald Trump to lead the U.S. Securities and Exchange Commission.

Thursday, December 1, 2016


Rolling Back Trade and Regulation Could Hurt Global M&A: Strine

Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law Jonathan Macey ’82 is quoted about a panel discussion he took part in, titled “Beyond the Election: Regulatory Outlook for Corporate America and Wall Street.”

Wednesday, November 30, 2016


Donald Trump’s Vow to Exit His Businesses Draws Questions

Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law Jonathan Macey ’82 is quoted in an article about the difficulties Donald Trump faces as he moves to separate himself from his business interests.

Thursday, November 3, 2016


Obama’s Pitch to Ban Non-Compete Agreements Would Make the Rich Richer—A Commentary by Jonathan Macey ’82

Jonathan R. Macey is the Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law at Yale Law School.

Thursday, September 29, 2016


Insider Trading and the Supreme Court—A Commentary by Jonathan Macey ’82

Jonathan R. Macey is the Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law at Yale Law School.

Monday, September 12, 2016


Legal Woes for Head of Brazil's JBS Raise Investor Concern

Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law Jonathan Macey ’82 is quoted in an article on potential repercussions of legal problems facing Brazil’s JBS SA, the world’s largest meatpacking company.

Sunday, August 28, 2016


Herbalife May Have Misled Investors, SEC on Impact of FTC Deal

Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law Jonathan Macey ’82 is quoted in an article about whether Herbalife made “purposefully deceptive statements” in its August quarterly earnings conference call and regulatory filings.

Thursday, June 23, 2016


Lawyers may be winners in a Brexit divorce, at least at first

Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law Jonathan Macey '82 is quoted in an article about how lawyers would be affected by the United Kingdom splitting from the European Union.

Wednesday, June 22, 2016


More power to the shareholder

Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law Jonathan Macey ’82 is cited in an article about a proposal that would give shareholders an annual opportunity to decide whether their company should be put up for sale.

Friday, April 22, 2016


Parasitic trading and frenzied lobbying: Why the heroes of 'Flash Boys’ must win their battle with the establishment—A Commentary by Jonathan Macey and David Swensen

Jonathan R. Macey is the Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law at Yale University, and David Swensen is Chief Investment Officer of Yale.

Thursday, April 21, 2016


Judge Henry J. Friendly's Former Clerks: Give Garland a Vote

Sterling Professor Bruce Ackerman ’67 and Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law Jonathan Macey ’82 signed a letter in support of Judge Merrick Garland.

Thursday, February 11, 2016


The Rise of Crony Capitalism—A Commentary by Jonathan Macey ’82

Jonathan R. Macey ’82 is the Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law at Yale Law School.

Tuesday, January 5, 2016


Beware of Banking Animus—A Commentary by Jonathan Macey ’82

Jonathan R. Macey ’82 is the Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law at Yale Law School.

Thursday, December 24, 2015


One Way to Unrig Stock Trading—A Commentary by Jonathan Macey and David Swensen

Jonathan R. Macey ’82 is the Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law at Yale Law School and David Swensen is the chief investment officer at Yale.

Friday, November 20, 2015


Professor Macey Testifies Before House Committee

Jonathan Macey ’82, Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law, testified on November 19, 2015, before the House Financial Services Subcommittee on Oversight and Investigations.

Thursday, September 3, 2015


Fannie and Freddie Are Making Lots of Money — But Not for Their Shareholders—A Commentary by Jonathan Macey ’82 & Logan Beirne ’08

Jonathan R. Macey ’82 is the Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law at Yale Law School and Logan Beirne ’08 is a Lecturer in Law at Yale Law School.

Friday, July 24, 2015


Senate Panel Spars Over $50B Systemic Threshold

Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law Jonathan R. Macey ’82 is quoted in an article about his testimony in front of the U.S. Senate Banking Committee.

Thursday, July 23, 2015


Professor Jonathan R. Macey Testified Before the U.S. Senate Banking, Housing, and Urban Affairs Committee

On July 23, Macey, the Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law, spoke before the U.S. Senate committee on “Measuring the Systemic Importance of U.S. Bank Holding Companies.”

Thursday, May 14, 2015


Injustice at the SEC—A Commentary by Jonathan Macey ’82

Jonathan R. Macey ’82 is the Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law at Yale Law School.

Thursday, May 7, 2015


Bank of America directors lose support from shareholders

Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law Jonathan Macey ’82 is quoted in an article about a recent meeting of Bank of America shareholders.

Tuesday, April 28, 2015


The Push for Ethical Investment at America’s Colleges

Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law and chair of Yale’s Advisory Committee on Investor Responsibility Jonathan Macey ’82 is quoted in an article on ethical investing at colleges and universities.

Thursday, April 23, 2015


Preposterous Madoff Ruling Draws Law Professors’ Scorn

Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law Jonathan Macey ’82 is quoted in an article about an amicus curiae brief filed by nine law school professors in Picard v. Fishman, now before the Supreme Court.

Tuesday, April 21, 2015


'Flash crash' market manipulation case poses test for prosecutors

Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law Jonathan Macey ’82 is quoted in a story about the arrest of a UK trader charged in the United States with market manipulation relating to the 2010 ‘flash crash’ of the Dow Jones Industrial Average.

Friday, March 13, 2015


Probe of Ackman team over Herbalife campaign may go nowhere: legal experts

Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law Jonathan Macey ’82 is quoted in a story about the investigation into possible manipulation of Herbalife shares by consultants working for William Ackman, who has shorted its stock.

Thursday, March 12, 2015


Democrats Against Insider Trading

Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law Jonathan Macey ’82 was a guest on Opinion Journal where he discussed insider-trading law.

Tuesday, March 3, 2015


Rakoff, Practitioners Question SEC Practice Of Sending More Enforcement Cases to ALJs

Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law Jonathan Macey ’82 is quoted in an article about an SEC decision to send more enforcement cases to administrative forums rather than federal district court.

Thursday, January 8, 2015


Vanguard to offer more detail on corporate governance voting

Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law Jonathan R. Macey ’82 is quoted in an article about news that Vanguard Group Inc. plans to publish new details about how it voted at annual shareholder meetings.

Thursday, December 11, 2014


An Insider-Trading Watershed—A Commentary by Jonathan R. Macey ’82

Jonathan R. Macey ’82 is the Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law at Yale Law School. 

Friday, February 13, 2009


Understanding the Financial Crisis Part II, Feb. 17 at YLS

A panel discussion titled “Understanding the Financial Crisis; Part II: The Stimulus, Bailouts, and Other Solutions,” will be held February 17 at Yale Law School.

Wednesday, October 8, 2008


YLS and SOM Professors Discuss Financial Crisis

SOM Professor Gary Gorton makes a point during a panel discussion on the financial markets.

Monday, September 12, 2005


Panel of YLS Professors to Discuss, "The Roberts Nomination: What's at Stake?" Sept. 14

On Wednesday, September 14, 2005, Yale Law School will host a discussion of the future of the U.S. Supreme Court, titled "The Roberts Nomination: What's at Stake?" The talk will start at 12:10 p.m. and run until 1:30 p.m. in Room 127.