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Business Organization Updates

Read Business Organization updates, alerts, news, and legal analysis from leading lawyers and law firms:

SFC (the “Commission”) Expresses Concern over Irregularities in Asset Management Activities

•The Commission has identified a number of regulatory concerns with respect to private funds and discretionary accounts, in particular, funds with concentrated, illiquid and interconnected investments. •The Commission has...more

SEC Adopts Exhibit Hyperlink Requirement

by Holland & Knight LLP on

•The U.S. Securities and Exchange Commission has adopted amendments (final rules) that will require registrants to include hyperlinks to exhibits. •The final rules apply to certain periodic reports under the Securities...more

SFC Proposes Rules and Code for Open-Ended Fund Companies

by Dechert LLP on

Recently, the Hong Kong Securities and Futures Commission (SFC) published a consultation paper on the Securities and Futures (Open-ended Fund Companies) Rules (Rules) and Code on Open-ended Fund Companies (Code) which, if...more

SEC Report Asserts Cryptocurrency Tokens Are Securities Under US Law

by Morgan Lewis on

The SEC’s published report of its first investigation focused on tokens sold in the context of an ICO sets the framework for future token offerings and raises red flags and legal hurdles to the resale or transfer of...more

Not a Token Gesture: Compensating Service Providers with Virtual Property

by Morrison & Foerster LLP on

Questions surrounding the use of virtual currencies and other digital tokens (“tokens”) as compensation came to the forefront last month following formal guidance from the U.S. Securities and Exchange Commission (“SEC”) on...more

Forecast: Abundance of Potential New Rulemaking From the CFPB

After making headlines with its controversial arbitration rule, the embattled Consumer Financial Protection Bureau (CFPB or Bureau) released its rulemaking agenda for the rest of the year, putting financial services companies...more

DOJ announces one of largest False Claims Act recoveries concerning U.S. Government small business programs

by Hogan Lovells on

Last week, the Department of Justice (DOJ) announced a $16 million settlement with Virginia-based government defense contractor, ADS Inc., to resolve allegations that ADS and its subsidiaries violated the False Claims Act by...more

U.S. Withholding on Synthetic Trades over U.S. Equities—Further Delay of Full Implementation Until 2019 (Notice 2017-42)

In response to perceived abuses in taxpayers’ use of swaps and other derivative transactions (e.g., options, futures or forwards) to avoid withholding tax on U.S. source dividends, Congress added Section 871(m) to the...more

Private Company Liquidity Programs

Nasdaq Private Market reports increased activity in private company liquidity programs. Companies that are choosing to stay private longer are using structured and controlled liquidity as a recruitment and retention tool,...more

2017 EY Survey Reports Steady Increase in Voluntary Audit-Related Disclosures

by WilmerHale on

In its sixth annual report on voluntary audit committee reporting to shareholders, Ernst & Young observed “similar increases in voluntary audit-related disclosure as in the past several years, with steady growth in certain...more

Recertifications of Size or Status: What Contractors Need to Know

by PilieroMazza PLLC on

Financial growth and success are important goals for every small business contractor. However, one potential pitfall of that success and continuous growth is eventually exceeding of the size standards attached to your...more

IRS Provides Guidance on Stock Distributions for Publicly Offered REITs and RICs

by Latham & Watkins LLP on

Revenue procedure sets forth requirements for ensuring certain stock distributions are treated as property distributions eligible for dividends paid deduction. On August 11, 2017, the Internal Revenue Service (IRS)...more

Loans to U.S. Subsidiaries Should Be Carefully Structured and Documented to Obtain U.S. Tax Benefits

by Dorsey & Whitney LLP on

Canadian companies should carefully structure and document loans and advances to their U.S. subsidiaries. If loans to U.S. subsidiaries are not properly structured and documented, such loans may be recharacterized as equity...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The SEC filed an insider trading case this week based on three separate trading chains that netted $5 million in trading profits, all back to a New York City bank official. The Manhattan U.S. Attorney’s Office filed a...more

This Week in FCPA-Episode 66, the Take a Stand Edition

by Thomas Fox on

Jay and I return for a wide-ranging discussion on some of the week’s top compliance and ethics related stories, including:   1. The SEC charges KPMG and partner with blown oil and gas company audit. 2. BSRG raises its...more

Incubate Illinois and Other Chicago Tech Resources

by Freeborn & Peters LLP on

First, for those in attendance at the second annual Incubate Illinois Conference, held on July 12, thank you. You made the event a tremendous success. We set out to develop a forum where the greatest thought leaders in...more

The NYSE Amends its Advance Notice Requirement for Dividend Announcements: NYSE Staff Now on Call 24/7

by Locke Lord LLP on

On August 14, 2017, the SEC approved a rule change to the NYSE Listed Company Manual to require listed companies to provide notice to the NYSE at least ten minutes before making any public announcement with respect to a...more

Curing Corporate Missteps Under Delaware Corporate Law

by Fox Rothschild LLP on

As every founder knows, starting and scaling a company is an extremely difficult and multi-faceted undertaking. In addition to the primary goals of developing a viable product, finding (and in some cases building from...more

A Chief Compliance Officer's Guide to Investigations

by Thomas Fox on

Tom Fox in conversation with Jonathan Marks, who has laid out a concrete way for CCOs and c-level executives to think through how to plan an investigation, staff it properly and meet the inevitable challenges. ...more

AFRICA - A Legal Guide for Business Investment and Expansion: Tunisia

1. What role does the government of Tunisia play in approving and regulating foreign direct investment? The Tunisian government places a priority on attracting foreign direct investment. The Tunisian government...more

Delaware Becomes the First State to Allow Corporations to Maintain Corporate Records Using Blockchain Technology

by Jones Day on

On August 1, 2017, Delaware became the first state to allow corporations to use blockchain technology to maintain corporate records. This development comes almost a year after Vice Chancellor J. Travis Laster of the Delaware...more

Top Five Proactive Ways for Start-Ups to Avoid HR Nightmares

Unless you’ve been under a rock, the fact that many start-ups have recently found themselves on the wrong side of the litigation or threatened litigation “v.” should not surprise you. In fact, it is often the very things that...more

U.S. Tax Court Ruling Exempts Gain on Foreign Partner's Sale of a Partnership Interest

by Foley & Lardner LLP on

On July 13, 2017, the U.S. Tax Court issued a decision in Grecian Magnesite Mining, Industrial & Shipping Co., SA v. Commissioner, 149 T.C. No. 3, which could have a significant impact on how non-U.S. investors invest in U.S....more

Saudi Council of Ministers Approves 100% Foreign Ownership of Engineering Consultancies

by Jones Day on

Currently, Saudi Arabian law permits foreign direct investment in engineering consultancies operating in the private sector only through a professional company licensed by the Ministry of Commerce and Industry ("MOCI")....more

Corporate Sustainability Efforts on Upswing

by Sullivan & Worcester on

Despite the new administration’s efforts to rollback Obama Era environmental regulations, most businesses in the U.S. are maintaining their commitments to sustainability. According to Lucid’s 2017 Sustainability Outlook...more

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