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Data Privacy: The Next Frontier of Corporate Compliance
Planning For The Exit – What’s Your Exit Strategy?
Hedge Funds Word of the Day™ – CFTC
What are the Implications of Alice v. CLS?
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Hedge Funds Word of the Day™ – Derivative
Legal Considerations for Web-Based Start-Ups
After SoundCloud & Wunderlist: How Berlin plans to grow its startup scene
Hedge funds word of the day™ – Big Boy Letter
How Leading Philippine Companies are Using Bonds to Their Advantage
Hedge Funds Word of the Day™ – 10b5-1 Plan
Private Equity's Inversion Excursion: Pepper Hamilton Talks Tax With the Deal
New York’s high court announced last week that banking institutions with branches in New York are shielded from judgment creditors attempting to collect on customer assets held at foreign branches of the same bank....more
This September, New York’s highest court will consider an issue of significant interest to international banks with a New York presence – whether a judgment creditor can use New York’s judgment enforcement procedures to...more
Obiter dicta by High Court suggests that damages may not be available as a remedy where an English company breaches a contractual obligation and performance of that obligation would have required a breach of the "capital...more
Federal Judge William Young in Massachusetts is making an unusual request of Wells Fargo in a Sept. 17 ruling in which he's requiring the bank's president and a majority of its board to approve a corporate resolution stating...more
Last November, Judge James P. Kleinberg of the Santa Clara Superior Court in San Jose, California ruled on motions for summary judgment in a case brought by former employees of a management company that had been retained by...more
1. Whether the district court erred in ruling that plaintiffs failed to allege
the existence of binding TPP Agreements.
2. Whether the district court erred by dismissing plaintiffs’ breach of
Unsecured creditors in chapter 11 cases face the prospect of two financial blows: the possibility of not receiving full payment of their claims and the cost of attorney's fees for defending their interests....more
Overdraft fees—many of them encouraged and generated through unfair and deceptive practices—cost consumers billions of dollars each year. Overdrafts are a particular problem when consumers use a debit card to make purchases...more
In this memorandum opinion, the Court of Chancery awarded the plaintiff substantial payments, pre-judgment interest and attorneys’ fees and costs. Plaintiffs, entities that managed and invested in a fund that owned...more
Office of the Comptroller of the Currency’s Minimum Standards for Prioritization and Handling Borrower Files Subject to Imminent Foreclosure Sale for all OCC Regulated Banks.
The OCC guidance is significant because it...more
The government’s ever-evolving response to the United States financial crisis has come full circle, as civil Justice Department Attorneys seek to rely on legislation enacted to protect financial institutions from fraud to sue...more
CLASS ACTION FINDINGS OF FACT AND CONCLUSIONS OF LAW AFTER BENCH TRIAL AWARDING $203 MILLION TO WELLS FARGO'S CALIFORNIA CUSTOMERS.
On May 14, 2013 the U.S. District Court for the Northern District of California...more
Senator Elizabeth Warren Pushes Feds For Answer On Big Bank Enforcement
WASHINGTON — Sen. Elizabeth Warren (D-Mass.) raised the stakes of her quest to find out why a single Wall Street bank has not been prosecuted in the...more
NATIONAL CONSUMER LAW CENTER (NCLS)
Banks Raking In Billions In Profits From Overdraft Fees
The notion behind an overdraft fee — in which a bank customer is charged a penalty for overdrafting his account — is twofold:...more
Umesh Tandon, president, chief compliance officer, and sole owner of Simran Capital Management, recently agreed to a settlement with the SEC relating to alleged violations of the Investment Advisers Act of 1940 and the...more
The Delaware Chancery Court recently enjoined a board of directors from impeding a stockholder’s solicitation of written consents to replace the board, unless the board first approved the stockholder’s nominees for purposes...more
RESULTS OF REVIEW
Wells Fargo did not establish effective control over its foreclosure process. This failure permitted a control environment in which
The affiants routinely signed and certified that they had personal...more
In its Annual Report on the Dodd-Frank Whistleblower Program (Report), the SEC has revealed that it has received 3,001 tips during its 2012 fiscal year (the first year of this program), and it paid out its first award to a...more
The UK Supreme Court decision in Rubin v Eurofinance SA and what it means for BVI and Cayman -
This article sets out the potential impact in the BVI and Cayman of the much anticipated Supreme Court decision in Rubin v....more
On October 5, the U.S. District Court for the Central District of California dismissed several affirmative defenses invoked by a group of former bank officers sued by the FDIC as receiver for a failed bank, including their...more
In this memorandum opinion, the Delaware Court of Chancery found defendant Simon J. Michael (“Michael”), a director of plaintiff Shocking Technologies, Inc. (“Shocking” or the “Company”), breached his fiduciary duty of...more
A recent Eighth Circuit Court of Appeals decision involved high ranking executives who participated in a company’s long-term incentive plan. Under the plan agreements, executives who did not continue employment for a three...more
This article by Victoria Holstein-Childress discusses the CFPB’s first enforcement action, announced July 18, 2012, which together with a parallel OCC enforcement action required a major bank to pay $210 million to settle...more
Small business owners have new hope that they may be on the same footing as individuals when it comes to cybertheft from their bank accounts.
It is trite law that one of the main purposes of tax treaties is to prevent double taxation of the same income. In Canada this principle has often been treated with a grain of salt since Canadian domestic rules do not bar...more
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