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When Banks and SCRA Compliance Collide

by Conduent on

In the financial industry, non-compliance means violating or not complying with legal regulations, prescribed industry practices, internal governance, or ethical standards. Non-compliant behavior can have a major impact on...more

Is It Possible to Dodge Liability for Anti-Money Laundering?

by Conduent on

Dodge, duck, dip, dive, and… dodge. Unfortunately, these five rules apply not only to dodgeball players but also to employees attempting to evade detection as they engage in money laundering and other financial crimes. As...more

SEC Adopts Payment Disclosure Rules for Companies Engaged in Resource Extraction

by BakerHostetler on

The U.S. Securities and Exchange Commission (the “SEC”) has adopted new rules which require “resource extraction issuers” to disclose annually the type and amount of payments that they (or their subsidiaries or entities under...more

The European, Middle Eastern and African Investigations Review 2016: United Kingdom: handling internal investigations

by WilmerHale on

With so much potentially at stake, the initial steps and strategic decisions taken in any company investigation are critical to setting the tone for a focused, credible and effective inquiry. This is paramount not only for...more

Value Insights: Delivering Value in Labor and Employment Law survey

Proskauer's Labor and Employment Law Department released its Value Insights: Delivering Value in Labor and Employment Law survey, a resource that illuminates current practices and future trends in managing labor and...more

Sustainable Development Update - May 2016

by Allen Matkins on

Sustainable Development Focus - Sustainability measures pay off says Morgan Stanley report - The Registry - May 5 - Investors looking for opportunities to potentially increase returns by integrating...more

The Panama Papers & The Tempo of International Corruption Cases

An interview on CNBC Powerlunch (April 4th, 2016) where I discuss the implications of the recent Panama Papers leaks. What does this mean for the future of tax havens? Also, will be the appetite for local enforcement in those...more

Expect New Cybersecurity Regs from New York DFS

by Locke Lord LLP on

DFS identified several areas that would be the subject of specific requirements in the potential regulations. These include requirements for (i) cyber security policies and procedures, (ii) third-party service provider...more

International News: Focus on Private Equity

by McDermott Will & Emery on

Our Focus on Private Equity provides a global perspective on some of the challenges being faced by PE firms and how these can be successfully addressed. It also examines some of the many opportunities available, e.g., by...more

New York Appellate Court Limits Application of “Separate Entity Rule” in Post-Judgment Discovery Context

by White & Case LLP on

In In re B&M Kingstone, LLC v. Mega International Commercial Bank Co., Ltd.,1 the New York Supreme Court, Appellate Division, First Department, held that the “separate entity rule” does not insulate a non-US bank’s New York...more

Target and Visa reach $67M settlement

Visa, Inc. announced on August 18th that it has reached a settlement with Target for $67 million to reimburse Visa for costs associated with the Target data breach in late 2013, including issuing millions of new cards to...more

FFIEC Releases Cybersecurity Assessment Tool

Why it matters - As anticipated, the Federal Financial Institutions Examination Council (FFIEC) released its Cybersecurity Assessment Tool, providing a process for financial institutions' management to gauge their...more

FFIEC Cybersecurity Assessment Tool: Not Just For Financial Institutions

by LeClairRyan on

On June 30, 2015, the Federal Financial Institutions Examination Council (FFIEC) released its long anticipated Cybersecurity Assessment Tool (press release here). The FFIEC is a formal interagency organization empowered to...more

New York court orders worldwide discovery from Spanish bank

by DLA Piper on

In a recent decision that is now on appeal, a New York federal judge ordered a Spanish bank that maintained a New York branch to make inquiry of “all branches, within and without New York State,” for account information that...more

Real Property, Financial Services & Title Insurance Update: Week Ending April 3, 2015

by Carlton Fields on

REAL PROPERTY UPDATE - Judgment: amount awarded in judgment of foreclosure must be supported by competent evidence and lender not entitled to award of interest or fees when only statement in evidence reflected...more

SEC Sanctions Chinese Accounting Firms for Refusal to Surrender Documents

by McDermott Will & Emery on

On February 6, 2015, the U.S. Securities and Exchange Commission (SEC) imposed sanctions against four China-based accounting firms for their refusal to surrender documents in conjunction with an investigation of potential...more

SEC – PRC Based Audit Firms Reach A Settlement

by Dorsey & Whitney LLP on

The SEC and the PRC based affiliates of five major accounting firms entered into a settlement of proceedings initiated over the failure to produce audit work papers for issuers with substantial operations in China. The...more

Expanded Disclosure Remedies for Claimants in International Cases Heard in England?

by Dechert LLP on

A valuable remedy open to a party in English civil proceedings is to seek a Norwich Pharmacal order. Such orders require a respondent to disclose certain information or documents to the applicant. The respondent party need...more

FINRA Panel Precludes Evidence & Awards Punitives as Discovery Sanction

by Burr & Forman on

An all-public panel of FINRA arbitrators entered a preclusion order and awarded $750,000 in punitive damages for Respondents’ failure to participate in discovery and disregard of pre-hearing filing requirements....more

FINRA Issues Guidance Notice on Confidentiality Provisions in Settlement Agreements and the Arbitration Discovery Process

In Regulatory Notice 14-40, FINRA reminds members that it is a violation of FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) to incorporate into a settlement agreement a confidentiality provision...more

Corporate and Financial Weekly Digest - Volume IX, Issue 45

by Katten Muchin Rosenman LLP on

In this issue: - Proxy Advisory Firms Release Policy Updates for 2015 - CBOE Makes Enhancements to Its Market-Maker Trade Notification System - OTC Derivatives Regulators Group Issues Report to G20...more

CFTC Proposes Amendments to Recordkeeping Rules

by Morgan Lewis on

Proposed changes would provide permanent relief from compliance with certain recordkeeping requirements and narrow the types of records that must be identifiable by transaction. The December 2012 amendments to...more

California Low Carbon Fuel Standard Overhaul Continues

by Latham & Watkins LLP on

I. LCFS Readoption - The California Air Resources Board (“ARB”) is on the cusp of readopting the Low Carbon Fuel Standard (“LCFS”) regulation to remedy legal defects in the initial adoption process found by the...more

Preserve and Protect: Sarbanes-Oxley Meets Environmental Law

by Foley & Lardner LLP on

On November 5, 2014, the United States Supreme Court will address the scope of the Sarbanes-Oxley “anti-shredding” law. The interpretation of this somewhat mundane provision may significantly affect how environmental data and...more

Recent Appellate Decisions Limit Access To Customer Assets Held At Foreign Bank Branches

by Proskauer Rose LLP on

On October 23, 2014, the New York Court of Appeals held for the first time that, under New York law, the "separate entity" rule prevents a court from ordering a foreign bank operating branches in New York from restraining a...more

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Cybersecurity

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