Task Force Releases Guidance on Disclosure of Pension Funding Obligations in Disclosure Documents by Saul Ewing LLP on 5/18/2012 On May 17, 2012, the Public Pension Disclosure Task Force, convened by the National Association of Bond Lawyers, released its report which offers guidance for municipal bond issuers (and those who assist such issuers) in...more
The End is Nigh? MLB and Fairness in Administration of a FCPA Compliance Program by Thomas Fox on 5/18/2012 Less than three months after he ruled against Major League Baseball (MLB) in the Ryan Braun suspension, Arbitrator Shyman Das was fired by MLB. He had been an approved arbitrator under the MLB Collective Bargaining Agreement...more
The Value in Conducting Thorough Background Checks on Executives by Thomas Fox on 5/17/2012 Internet giant Yahoo! has now been forced to undertake another extensive search for a Chief Executive Officer to help salvage its underperforming business. Today it was announced that Scott Thompson would be stepping down...more
A Compliance Must Have: A Whistleblower Triage Program by Michael Volkov on 5/2/2012 The SEC’s whistleblower program is under heat from Congress over an allegation that it allegedly disclosed the identity of an SEC whistleblower. The allegations are making political headway on Capitol Hill but that may be...more
Legal Alert: High Profile Allegations of FCPA Violations Require Compliance Assessment by Ford & Harrison LLP on 5/2/2012 Executive Summary: The United States Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are aggressively pursuing allegations of violations of the Foreign Corrupt Practices Act (FCPA) against US and...more
Business news overview by Karanovic & Nikolic Law Office on 4/30/2012 - Changes on the Law on Agency for privatization have been adopted. The changes of the law prescribes reduction of the number of the members of Managment and Supervisory board in order to decrease expenses -...more
Pay for the Chief: The Shareholders Speak Out by Mintz Levin - Employment, Labor & Benefits on 4/25/2012 Among the many elements of the comprehensive reform applicable to public companies in the Dodd-Frank Consumer Fraud and Protection Act (“Dodd-Frank”), shareholders were given new and additional powers with respect to...more
FINRA: Collective Actions Can’t Be Arbitrated by Siegel, O'Connor, O'Donnell & Beck, P.C. on 4/24/2012 For many years, employees and customers in the securities industry signed agreements that their disputes must be arbitrated before the self-regulatory organization for broker-dealers, Financial Industry Regulatory Authority...more
ESOP LEGAL NEWS - April 2012 • Volume 1, Number 2 by Dickinson Wright on 4/20/2012 INSIDE THIS ISSUE: The ESOP Association submits comments on corporate tax reform to House committee; ESOP champion Olympia Snowe not running for reelection; Pro-ESOP legislation garners support; Bear Stearns agrees to...more
Corporate and Financial Weekly Digest - April 13, 2012 by Katten Muchin Rosenman LLP on 4/16/2012 In this issue: - SEC Issues Guidance and Implementation of the JOBS Act - NASDAQ Proposes a Paid-For Market Making Program - UK Judgment Validates ISDA Master Agreement Performance Suspension Provision -...more
SEC: The Urban Case and Supervisor Liability by Michael Volkov on 4/13/2012 The SEC’s long and tortured Theodore Urban case finally came to an end when the Commission reversed the ALJ’s decision and dismissed the case. Since the case was brought, the SEC has made public statements to try and...more
Corporate Spending Post-Citizens United Decision Comes under Attack by Morgan Lewis on 4/10/2012 The Supreme Court decision in Citizens United v. Federal Election Commission, 558 U.S. —, 130 S.Ct. 876 (2010), lifted long-standing limits on corporate and labor union political spending. Prior to Citizens United, federal...more
JOBS Act Will Significantly Relax Restrictions on Capital Raising April 6, 2012 by Foley Hoag LLP on 4/6/2012 On April 5, 2012, President Obama signed the JOBS Act (Jumpstart Our Business Startups), the culmination of a bipartisan effort by Congress to ease restrictions on capital raising that have affected and guided companies and...more
CFPB Issues Guidance On Loan Originator Compensation by BuckleySandler LLP on 4/4/2012 In response to questions it has received from loan originators and their firms seeking to comply with compensation rules issued under TILA Regulation Z, the CFPB today issued Bulletin 2012-02. The Bulletin states that...more
Statements of Defence Required In Advance of Certification in Sino-Forest Class Proceeding by Osler, Hoskin & Harcourt LLP on 4/4/2012 In the recent Trustees of the Labourers’ Pension Fund et al. v. Sino-Forest decision – released March 26, 2012 – Justice Perell affirmed his earlier reasoning in Pennyfeather v. Timminco 1 by requiring the delivery of...more