Securities Law, Administrative Law, Commercial Law & Contracts

Justice Department and SEC Issue Guidance on Anti-Bribery Law

by David Dubberly | Nexsen Pruet, PLLC on 1/23/2013

Originally published in Swampfox - January 22, 2013. In November 2012 the Department of Justice and the Securities and Exchange Commission issued a 120-page “resource guide” to the U.S. Foreign Corrupt Practices Act. ...more

Swap Clearing and the Commercial End User Exception: Corporate Governance and Risk Management Issues for Commercial Companies

by Juan Arciniegas, Anthony R.G. Nolan, Anh Tran | K&L Gates LLP on 1/18/2013

Central clearing of over-the-counter derivatives is a central pillar of the financial services reforms that are embodied in the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The presumption...more

The Cutting Edge Of Anti-Corruption Compliance: Proactive Audits

by Michael Volkov on 1/17/2013

The FCPA world is fast-becoming the leader in new compliance strategies. The Justice Department and the SEC have embraced the requirement for conducting “proactive audits.”...more

2012 Corporate Finance Review – Low Interest Rate Environment Provides Opportunities in the Debt Markets

by Michael Innes, Desmond Lee | Osler, Hoskin & Harcourt LLP on 1/16/2013

Osler has published its 2012 Capital Markets Review which includes a look back at the year in Canadian corporate finance by Desmond Lee and Michael Innes....more

FINRA Provides Early Guidance About Its Exam Priorities; Firms Should Take Notice

by Jay G. Baris, Hillel Cohn, Kelley A. Howes, Daniel A. Nathan | Morrison & Foerster LLP on 1/16/2013

In its annual summary of regulatory and examination priorities, the Financial Industry Regulatory Authority (FINRA) signaled that it will aggressively pursue market misconduct. The January 11, 2013 report follows closely on...more

Financial Services Legislative And Regulatory Update -- January 14, 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 1/14/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; Miscellaneous; and International. Excerpt from Leading the Past Week - As was widely anticipated, President Obama announced that he...more

Internal Audit Review of Charitable Donations Under the FCPA

by Thomas Fox on 1/10/2013

When is a rose not a rose? When it is a charitable donation not made for philanthropic purposes and it violates the Foreign Corrupt Practices Act (FCPA). I thought about that concept when reviewing the Eli Lilly and Company...more

No Knowledge, but Hints of Omissions in the Allianz FCPA Settlement

by Mark Jensen, Matthew Riemer | Sheppard Mullin Richter & Hampton LLP on 1/10/2013

On December 17, 2012, the Securities and Exchange Commission (“SEC”) announced a settlement under the U.S. Foreign Corrupt Practices Act (“FCPA”) with Allianz SE (“Allianz”), the insurance company based in Germany, resulting...more

NFA Issues Guidance on Bylaw 1101 Compliance for Pending Introducing Brokers

by James M. Brady, Blake Brockway, Kenneth M. Rosenzweig | Katten Muchin Rosenman LLP on 1/9/2013

On December 27, National Futures Association issued guidance for NFA members carrying accounts, accepting orders or handling transactions from an introducing broker (IB) whose NFA membership is pending in reliance upon...more

Top Ten Enforcement Actions for 2012

by Thomas Fox on 1/8/2013

As we welcome in 2013, it is appropriate to reflect back on some of the things which have occurred over 2012 and in the Foreign Corrupt Practices Act (FCPA) enforcement world, it was quite a significant year. The Department...more

Five Biggest FCPA Stories Of 2012

by Michael Volkov on 1/7/2013

One of my favorite “Seinfeld” episodes is when Jerry and George go to NBC to pitch their new television show which is about “nothing.” There are some parallels to this posting. FCPA settlements have dwindled during 2012....more

The Lilly FCPA Enforcement Action (Part III) Lessons Learned from Russia

by Thomas Fox on 1/4/2013

This Part III is the final installment of my review of the Eli Lilly and Company (Lilly) FCPA enforcement action brought by the Securities and Exchange Commission (SEC). In this Part III, I will review the FCPA issues that...more

SEC Adopts Final Rules for "Conflict Minerals"

by Loeb & Loeb LLP on 1/3/2013

The Securities and Exchange Commission has adopted final rules requiring disclosure of the use of "conflict minerals" by public companies (including smaller reporting companies and foreign private issuers) in products they...more

BLG Monthly Update for January 2013

by Neil Guthrie on 1/3/2013

Pot-smoking teens, ownership of e-mail, insider trading on false info -- all this and more in the BLG Monthly Update for January 2013!...more

From China to Poland and Brazi l- The Lilly FCPA Enforcement Action- Part II

by Thomas Fox on 1/3/2013

In Parts II and III of my review of the Eli Lilly and Company (Lilly) Foreign Corrupt Practices Act (FCPA) enforcement action brought by the Securities and Exchange Commission (SEC), I will discuss some the processes and...more

The Lilly FCPA Enforcement Action Part I – Key Lessons Learned on Sportsmanlike Conduct

by Thomas Fox on 12/31/2012

As you see from today’s picture I am enthusiastically wearing a New England Patriots (classic) shirt. You may ask yourself why am I wearing this shirt? The reason is because of a rather rash wager I made with Jay Rosen, Vice...more

Now in Effect: Pennsylvania’s Banking Modernization Package

by Lauren A. Abbott, Leonard A. Bernstein, Michael E. Bleier | Reed Smith on 12/28/2012

Three bills – H.B. 2368, H.B. 2369, and H.B. 2370 – that greatly expand the regulatory and enforcement tools available to the Pennsylvania Department of Banking and Securities ("Department"), bring Pennsylvania law into...more

CFTC Classifies Certain Securitization Vehicles as Not Being Commodity Pools

by Cary J. Meer, Marc Mehrespand, Anthony R.G. Nolan, Lawrence B. Patent | K&L Gates LLP on 12/24/2012

Recent changes to the commodity pool regulations under the Commodity Exchange Act (the “CEA”) may subject certain securitization transactions and their managers to regulation by the Commodity Futures Trading Commission (the...more

CFTC Approves Final Rule Requiring Recording of Oral Communications

by Katten Muchin Rosenman LLP on 12/24/2012

On December 17, 2012, the Commodity Futures Trading Commission (CFTC) adopted final rules amending CFTC Regulations 1.31 and 1.35. The final rules require certain market participants to record oral communications that lead to...more

SEC Focuses on Fair Valuation in Recent Enforcement Cases

by Dechert LLP on 12/21/2012

The U.S. Securities and Exchange Commission (SEC) issued an order commencing an administrative proceeding against the former members of the boards of directors (Boards) of five registered investment companies on December 10,...more

OSC Staff Provides Guidance for Angel Groups & Internet Funding Platforms

by Andrea C. Johnson | Dentons on 12/21/2012

The Ontario Securities Commission (OSC) recently published OSC Staff Notice 33-738. The Staff Notice contains commentary regarding Internet platforms and other "matchmaking" services that are run by persons who are not...more

Stepping Into the Ring Against the SEC and FINRA: Sometimes It Pays to Duke It Out Against the Regulators

by Brian L. Rubin, Jae C. Yoon | Sutherland Asbill & Brennan LLP on 12/20/2012

Originally published in Thomson Reuters - Securities Regulation Law Journal - Winter 2012. Faced with the possibility of litigating against the Securities and Exchange Commission (SEC) or the Financial Industry...more

Revised NASDAQ Rules Relating to Public Disclosure by Listed Issuers Following Receipt of Notification of Non-compliance with...

by David S. Rosenthal | Dechert LLP on 12/20/2012

The U.S. Securities and Exchange Commission (“SEC” or the “Commission”) has approved a NASDAQ proposed rule change that revises disclosure requirements following a listed issuer’s receipt of notification from NASDAQ that the...more

Legal Alert: FCPA Resource Guide Issued

by Kenneth R. Hannahs, Jr. | FordHarrison on 12/20/2012

On November 14, 2012, the Criminal Division of the United States Department of Justice ("DOJ") and the Enforcement Division of the United States Security and Exchange Commission ("SEC") issued "A Resource Guide to the U.S....more

Pennsylvania Enacts Changes to Banking Laws

by John L. Culhane, Jr., Mark J. Furletti, Alan S. Kaplinsky, Jeremy T. Rosenblum | Ballard Spahr LLP on 12/19/2012

Significant changes to Pennsylvania banking laws will take effect on December 24, 2012, as a result of three bills, known as the “Banking Law Modernization Package,” signed into law by Governor Tom Corbett....more

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Securities Law › Administrative Law › Commercial Law & Contracts