Big Four to Localize in China by Sheppard Mullin Richter & Hampton LLP on 5/23/2012 Earlier this month, China’s Ministry of Finance, State Administration for Industry and Commerce, Ministry of Commerce, State Administration of Foreign Exchange, and China Securities Regulatory Commission issued the Notice on...more
Second Circuit = The Avengers? Judges Create Alter Ego Liability by Pullman & Comley, LLC on 5/23/2012 Alter egos are all the rage right now with The Avengers well on its way to becoming one of the most popular movies of all time. Hearing about a new case out of the Second Circuit, it would be easy to conclude the Court...more
M&A and Private Equity Update by Akerman Senterfitt on 5/23/2012 This year’s edition reflects relative consistency of national trends with the prior year. While aggregate transaction activity nationally in 2011 was only marginally higher than in 2010, we are pleased that our clients...more
Consulting Payments To A Related Entity Did Not Avoid Unreasonable Compensation Issues by Charles (Chuck) Rubin on 5/23/2012 An accounting firm operated as a C corporation. The firm paid substantial fees to three related entities created by the founding shareholders of the firm. The fees were so high as to reduce the net income of the firm to a de...more
Little Hoover Commission Votes To Approve Governor’s Reorganization Plan by Allen Matkins Leck Gamble Mallory & Natsis... on 5/23/2012 Yesterday morning, the Little Hoover Commission voted to approve the Governor’s Reorganization Plan, subject to the members appointed by the Speaker of the Assembly (Mark Vargas) and the Senate Rules Committee (Jonathan...more
Should the board consult the owners before implementing changes ? (Part III) by Heenan Blaikie LLP on 5/23/2012 In our previous posts on this topic, we looked at the level of consultation required when the board contemplates renovation to the condominium or changes to the services provided to the owners. Last post dealt specifically...more
Former Employee Blows the Whistle on Delaware Unclaimed Property Exposure by Reed Smith on 5/23/2012 In a recent unpublished decision, the Superior Court of Delaware, New Castle County, decided to allow a business entity’s former tax manager, joining with the attorney general for the state of Delaware, to proceed with a...more
Mergers & Acquisitions Law Report - May 7, 2012: Summary of Required Financial Statements of Businesses Acquired or to Be Acquired by Orrick, Herrington & Sutcliffe LLP on 5/22/2012 Reproduced with permission from Mergers & Acquisitions Law Report, 15 MALR 686, 05/07/2012. Copyright 2012 by The Bureau of National Affairs, Inc. Rule 3-05 of Regulation S-X requires audited financial statements to be...more
Partner May State FEHA Claim Against Partnership For Retaliation For Opposing Sexual Harassment Of An Employee Of The Partnership by Kronick, Moskovitz, Tiedemann & Girard on 5/22/2012 A California Court of Appeal recently held that the California Fair Employment and Housing Act (“FEHA”) supports a partner’s claim for retaliation against her partnership for opposing sexual harassment of an employee of the...more
FSA Issues Decision Notice Against Former BGC Senior Executive by Orrick, Herrington & Sutcliffe LLP on 5/22/2012 On 16 May 2012 the FSA published a decision notice which it has issued to Anthony Verrier, a former senior executive at BGC Brokers LP. The FSA decided to prohibit Mr. Verrier from performing any function relating to any...more
A Whole New Ball Game: SIFI Designations in the Dodd-Frank Paradigm by K&L Gates LLP on 5/22/2012 The process for designating systemically important financial institutions (“SIFIs”) under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) is moving forward apace. On April 3, 2012, the Financial...more
Groups Sponsoring Electioneering Communications Must Disclose All Donors Pending Appeal of District Court Order by Venable LLP on 5/22/2012 Advocacy groups and trade associations that fund political advertisements may be compelled to make heightened donor disclosures as a result of recent litigation. The expanded disclosure requirements apply to “electioneering...more
Quinn Emanuel D.C. Litigation in Brief -- Spring 2012 by Quinn Emanuel Urquhart & Sullivan, LLP on 5/22/2012 In This Issue: The Supreme Court Confronts Controversies Overseas, But Will Congress Have the Final Word? Cover; When in Rome...(U.S Law Still Applies): Lessons of Wal-Mart, News Corp. & the Foreign Corrupt Practices...more
Massachusetts Senate Considering Budget Amendment Limiting Compensation of Directors and Officers of Public Charities by Foley Hoag LLP on 5/22/2012 An amendment to the state budget under consideration by the Massachusetts Senate would cap the compensation of officers and senior managers and would prohibit the compensation of members of the board of directors of public...more
Sanctions Enforcement — An Increasing Risk by Michael Volkov on 5/22/2012 Everyone writes about the FCPA and the UK Bribery Act. Some are more willing to tackle export compliance. Given the Obama Administration’s reliance on sanctions as a foreign policy tool, companies need to address the...more