Art, Entertainment & Sports Finance & Banking Business Organization

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Cantor Gaming Forced to Pony up Millions for AML Violations: What Lessons Can Be Learned from FinCEN’s Latest Enforcement Action...

Action Item: Licensed gaming and other entities required to comply with the Bank Secrecy Act should be aware of this recent FinCEN enforcement action, and they must ensure that their compliance programs address the lessons...more

Caesars Back in Bankruptcy Court

Caesars Entertainment Operating Co. Inc. (“Caesars”) appeared in bankruptcy court for the third time this year to request that creditors be stayed from seeking an $11 billion dollar judgment against the casino operator’s...more

Teaming Sports Stars, Good Causes Great – But Know the Rules

Many sports figures have created nonprofit organizations to raise funds for a cause close to their hearts. But the reality is that athletes’ foundations aren’t always successful in raising money for charity. This article...more

ThisWeek in FCPA-Episode 14, the Wolf of Wall Street Edition [Video]

In this episode, Jay Rosen and I talk about the SFO investigation into Unaoil, the forfeiture lawsuit filed in the 1MDB scandal, the possible JP MorganChase sons and daughters FCPA settlement, the new Standard Law School FCPA...more

Update on China’s New Restrictions on Internet Content

Apple’s iTunes and Disney’s DisneyLife websites have reportedly become early targets of China’s internet regulators who are beginning to enforce new rules restricting the publication of online content. The new rules, the...more

Tax Law Blog: Prince's Estate Plan (or lack thereof)

News sources are reporting that court documents filed last week indicate Prince died intestate, meaning he did not have a will. His sister filed the paperwork, stating to her knowledge he did not have a will and requesting...more

Debt Restructurings -- New Developments

Shearman & Sterling joined 27 other law firms in developing an opinion white paper regarding the application of recent judicial opinions relating to Section 316(b) of the Trust Indenture Act of 1939 in the Marblegate and...more

The SEC, Insider Trading and the Super Bowl

Perhaps the SEC is developing a sense of ironic timing. The day after the Super Bowl the Commission filed an insider trading action. The conversations which are the predicate for the alleged illegal securities trades began in...more

FinCEN Action Against Casino for Weak AML Compliance Efforts Should Not Be Ignored by Others—Especially Digital Currency Companies

Why it matters - FinCEN's $8 million civil money penalty imposed on Caesars Palace for "willful and repeated" violations of the BSA sends a signal that failure to collect and use appropriately identifying information...more

Tax Policy Update

As in the 9 percent "amusement tax" that the city of Chicago recently extended to online streaming services like Netflix and Amazon Prime, triggering a series of lawsuits alleging that the newly expanded tax was illegally...more

SEC Charges Advisory Firm to Sports Figures and Officers With Fraud

The SEC filed two actions centered on an advisory firm that serves on high net worth individuals, primarily current and former professional athletes. The actions are based on the theft of client funds and a failure to...more

Upper Tribunal Decision in Samarkand and Proteus

The long-awaited Upper Tribunal Decision in the Samarkand and Proteus case has been published. The case relates to statutory sale and leaseback partnerships with partners claiming losses under the film acquisition relief...more

AML Compliance Developments in the Gaming Industry

Executives of regulated entities often lament that fulfilling compliance obligations interferes with their ability to operate their business. However, an extensive (and extended) regulator investigation with the potential for...more

Appendix - Opening-up Measures for Service Sectors (China)

Please see full chart below for more information....more

Do You Know What Day It Is? The Risks and Benefits of the Animal Spokesperson

Do You Know What Day It Is? The Risks and Benefits of the Animal Spokesperson by Dan Brecher on October 9, 2013 Does Grumpy Cat have more Twitter followers than your business? If so, maybe it’s time for an animal...more

Former Chapel Hill Tutor Indicted in Sports Agent Investigation

Former Chapel Hill Tutor Indicted in Sports Agent Investigation by Anthony Caruso on October 7, 2013 A former UNC-Chapel Hill tutor who worked closely with Tar Heels football players has been indicted on charges of...more

Will Yankees Give In To Cano’s $300-Million Contract Request?

Will Yankees Give In To Cano’s $300-Million Contract Request? by Anthony Caruso on October 4, 2013 New York Yankee's second basemen Robinson Cano is reportedly requesting a record $300-million contract to be spread out...more

Court Upholds Law Prohibiting Sports Betting in New Jersey

Court Upholds Law Prohibiting Sports Betting in New Jersey by Anthony Caruso on September 20, 2013 The legalization of sports betting in New Jersey is becoming more bleak, following a court's recent decision to uphold a...more

NCAA Concussion Lawsuit Poses More Legal Complications Than NFL Suit

NCAA Concussion Lawsuit Poses More Legal Complications Than NFL Suit by Anthony Caruso on September 9, 2013 One week after a historic $765 million settlement regarding concussion-related injuries, between the National...more

NCAA Racks Up More Circumstantial Evidence Against Johnny Manziel

NCAA Racks Up More Circumstantial Evidence Against Johnny Manziel by Anthony Caruso on August 16, 2013 Texas A&M quarterback Johnny Manziel may be facing more heat from the NCAA for potentially profiting from autograph...more

National Ambulatory Services Firm Seeks Chapter 11 Bankruptcy Protection

National Ambulatory Services Firm Seeks Chapter 11 Bankruptcy Protection by Joel R. Glucksman on August 16, 2013 Rural/Metro, an ambulance and fire protection services company, announced it has filed for Chapter 11...more

Rookies Thrown Out of NBA Transition Program May Struggle to Manage Legal Issues

Rookies Thrown Out of NBA Transition Program May Struggle to Manage Legal Issues by Anthony Caruso on August 14, 2013 Shabazz Muhammad made headlines recently when it was announced that he was sent home from the...more

Bitcoin: A Peer-to-Peer Electronic Cash System (Satoshi Nakamoto "White Paper"))

Satoshi Nakamoto Abstract re Bitcoin White Paper: A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution....more

State + Local Tax Insights - Winter 2012

In this issue: Should Filmmakers Be Content to Have Taxing Authorities Judge Their Content? Upcoming 2012 Speaking Engagements; Individual Liability for Company Taxes; Potential Unity and Business Income in California;...more

Royalty Financing: Another Creative Way for Start-Up Financing

Still frozen market, rather onerous or non-existent funding channels and business uncertainty have made it rather impossible to launch a new business. Nonetheless, a rather novel funding option may relatively facilitate...more

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