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Blockchain Week in Review - April 2017 #1

by Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Compliance into the Weeds-Episode 34

by Thomas Fox on

In this episode Matt Kelly and I take a deep dive into the recent kerfuffle involving United Airlines and its policy which prevented to teenaged girls from boarding a flight wearing leggings. Was United within its rights to...more

FCPA Compliance Report-Episode 318-Erica Byrne on Ethisphere's 2017 World's Most Ethical Companies

by Thomas Fox on

In this episode, I visit with Erica Salmon Byrne, EVP at Ethisphere on the 2017 World’s Most Ethical Companies honorees. Erica goes into how the corporate compliance programs are evaluated, what the companies disclose to...more

Day 14 of One Month to a Better Board-Boards and Doing Business in China

by Thomas Fox on

The bribery and corruption case of GlaxoSmithKline PLC (GSK) resonated across the corporate globe. While many questions are still unanswered, one that seems to be at the forefront of the inquiry was where was the GSK Board of...more

Day 14 of 30 Days to a Better Compliance Program-Design of Your Compliance Training Program

by Thomas Fox on

For compliance training to be effective its needs to risk-based in its focus. This means employees with highest risk of exposure to bribery and corruption need to receive the highest levels of training and refreshers. From...more

Be Careful What You Say – Or Rather What You Don’t Say – AVEO Pays $4 Million to SEC to Settle Fraud Charges

by Sullivan & Worcester on

In March 2016, the Securities and Exchange Commission announced that AVEO Pharmaceuticals, Inc., a Massachusetts-based biopharmaceutical company, agreed, without admitting or denying the allegations, to pay $4 million to...more

Valuable Information Security Lessons from the Olympus Mortgage vs. Guaranteed Rate Case

by Baker Donelson on

Late last month a jury awarded Mount Olympus Mortgage Company (MOMC) more than $25 million for their claims against Guaranteed Rate (Guaranteed), which alleged Guaranteed along with other former employees of MOMC illegally...more

CFPB’s First Data Security Action; Fines Online Platform Dwolla for Alleged Weak Security Practices

by Kelley Drye & Warren LLP on

On March 2, the CFPB settled its first data security enforcement action against Iowa-based Dwolla Inc. Launched as a startup in 2009, Dwolla is an online payment platform that enables customers to transfer money directly...more

Is the CFPB the New Cop on the Data Security Beat?

by Morrison & Foerster LLP on

On March 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) broke new ground (at least for the CFPB) when it released a consent order against Dwolla, Inc. (“Dwolla”), an online payment platform, regarding data...more

FTC Closing Letter Provides Good Data Security Reminder

by Kelley Drye & Warren LLP on

Last week, the FTC sent a closing letter to Morgan Stanley Smith Barney LLC (“Morgan Stanley”) relating to the agency’s investigation over whether Morgan Stanley engaged in unfair or deceptive acts or practices by failing to...more

SEC Condemns Breach Of Client Confidences While Offering Possible Bounties For Breaches

by Allen Matkins on

Yesterday, the Securities and Exchange Commission announced that it had “charged a California-based attorney and his wife with insider trading on confidential information obtained from a corporate client.” According to the...more

Issuer Banks’ Claims in Target Data Breach Litigation Survive Motion to Dismiss

Federal District Judge Paul Magnuson has ruled that banks that issued credit and debit cards to customers whose data was stolen in the December 2013 Target data breach could continue to litigate claims against Target for...more

Bitcoin Investment Vehicles Beware – The SEC is Watching

by BakerHostetler on

The Securities and Exchange Commission (SEC) recently charged the co-owner of two Bitcoin-related websites for publicly offering shares in the ventures without registering the securities under the Securities Act of 1933 (the...more

Genzyme First Circuit Decision

by BakerHostetler on

In a huge victory for Massachusetts-based biologics manufacturer Genzyme Corporation, the First Circuit Court of Appeals on June 5, 2014 affirmed the District Court’s dismissal of a multi-million dollar shareholder class...more

SEC, Bitcoin and Unregistered Offerings

by Dorsey & Whitney LLP on

Bitcoin has been a much discussed item recently. The virtual currency is a digital representation of value that is traded and can serve as a medium of exchange. There are websites that use it. At one time there was a stock...more

SEC Files Another Settled Insider Trading Case

by Dorsey & Whitney LLP on

Insider trading continues to be a key priority in the new get tough enforcement era. Last week closed with the filing of an insider trading action centered on the BP oil spill in the Gulf of Mexico. This week begins with...more

Judge Denied Bank of America’s Motion to Dismiss $850M Mortgage Fraud Case

by Bilzin Sumberg on

Last week, Magistrate Judge David S. Cayer of the U.S. District Court for the Western District of North Carolina denied Bank of America’s motion to dismiss the Security and Exchange Commission’s claims against it in SEC v....more

Corporate and Financial Weekly Digest - Volume IX, Issue 14

In this issue: - SEC Requests Comment on FINRA Rules - CFTC Issues Interpretation Regarding Auditor Independence Standards - OTC Derivatives Regulators Group Issues Report to G20 - NFA...more

SEC Wins Freeze Order Over “Cloud Computing” Pyramid Scheme

by Dorsey & Whitney LLP on

The “cloud” is a current focus for investors. There is cloud computing, cloud storage and new firms with cloud services. And the Commission discovered a “cloud” investment program that promised a 100% return in 100 days and...more

ASIC puts insider trading under the microscope

by DLA Piper on

The Australian Securities and Investments Commission (ASIC) has announced that its new $43.7 million next generation market surveillance system has become operational. The system, known as Market Analysis Intelligence (MAI),...more

Bitcoin Scheme Worthy of Charles Ponzi

On July 23, 2013 the Securities and Exchange Commission ("SEC") announced it was bringing charges in a Texas federal court against Trendon Shavers for allegedly using a Bitcoin Ponzi scheme to defraud investors between...more

Court Maintains Bitcoin-Related Investment Scheme Is A Security Under The Federal Securities Laws

by Perkins Coie on

In response to the SEC’s first civil complaint arising from online virtual currency trading, alleged Bitcoin Ponzi schemer Trendon Shavers recently challenged the district court’s authority to hear the case. ...more

A Tale of Caution: Know Your Intellectual Property Rights

by Reed Smith on

On 17 May, Mrs Justice Asplin delivered a judgment in the Chancery Division of the High Court of Justice. The dispute concerned intellectual property rights in hedge fund computer software that was the "cornerstone of the...more

A PowerPoint Sample for Business Trial Lawyers

by Cogent Legal on

The Association of Business Trial Lawyers recently asked Cogent Legal to prepare the graphics for a presentation on mock trials. The panel consisted of some of the best jury consultants in the country exploring the factors...more

The Litigation Graphics Lesson in the "Wealth Inequality in America" Video

by Cogent Legal on

I always like to share examples of what I consider powerful graphics to give attorneys ideas on what’s possible to create for use in litigation. This morning, I was struck by a video going viral that describes economic...more

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