Bill on Bankruptcy: US Airways Need a Merger More than AMR
The Seventh Circuit affirmed a class action coupon settlement involving “clear sailing” and “kicker” clauses and a fee award based on the lodestar analysis rather than the value of the redeemed coupons, and notwithstanding a...more
FINRA has made no secret of its interest in broker compensation, and the potential conflicts of interest that can be generated by some types of compensation practices. FINRA discussed these issues in its 2015 annual...more
On August 13, 2015, the Department of Labor (the “DOL”) concluded a four day public hearing on its proposed conflict of interest rule (the “Proposed Rule”). The approximately 75 witnesses generally fell into two groups: the...more
FINRA this week released its targeted exam letter requesting information on firms’ conflict-of-interest policies surrounding broker compensation and retail accounts.
The sweep follows up on FINRA’s Conflicts Report from...more
Part One: Setting The Foundation -
Why Does G&E Matter?
Tony Robbins once said, “Every problem is a gift—without problems we would not grow.” In the compliance arena, the reverse also applies, as many gifts can...more
The National Labor Relations Board continues to infiltrate the workplace even where there are no unions. Standard workplace policies — including those relating to employee conduct, protecting intellectual property, use of...more
On August 6, 2015, the Securities and Exchange Commission (“SEC”) filed an Order instituting proceedings intended to determine whether to approve or disapprove Proposed Municipal Securities Rulemaking Board (“MSRB”) Rule G-42...more
On August 5, 2015, RMBS investors filed a putative class action against U.S. Bank, N.A. in the Supreme Court for the State of New York. The investors assert that U.S. Bank, as trustee for the MASTR Adjustable Rate Mortgage...more
Hackers and Traders Charged by SEC and Department of Justice in International Securities Fraud Scheme -
The computer servers of three major newswire companies were allegedly hacked as part of an elaborate illicit...more
On 6 July 2015, Argentina filed with the U.S. District Court for the District of Columbia a petition to vacate an UNCITRAL arbitration award of approximately $20 million rendered in favour of AWG Group Ltd (No. 15-cv-01057, 6...more
I do not mean to be facetious or snarky, but I am concerned about organizations that sell or promote their ability to certify or give a seal of approval to a company as an “ethical” company. Even more troubling (or perhaps...more
A second insider trading action was brought by the Commission against a senior banking official based on the same take-over for which he was previously charged — but a different securities trading account is at the center of...more
Failure to disclose conflicts of interest and/or to comply with firm procedures are the predicates for a series of SEC enforcement actions involving regulated entities. The most recent example of these trends is an action...more
On April 13, 2015, the New York Attorney General’s office released two guidance documents addressing key provisions of the New York Not-for Profit Corporation Law (the N-PCL) enacted as part of the Non-profit Revitalization...more
You already know that you do not have to give special deference to the opinions of treating physicians.
But you need to explain why the treating physician’s opinions are being rejected....more
Mobile Telecommunications Technologies, LLC ("Mobile") filed a patent infringement action against LG Electronics Mobilecomm U.S.A. ("LG"). As trial approached, LG filed a motion to disqualify Mobile's infringement expert, Dr....more
If two shareholders each own one half of the outstanding shares of a corporation, one might expect that they would have an equal say in just about everything. It turns out that in some circumstances they won’t....more
Welcome to the 2015 Mid-Year Report from the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team. The purpose is to provide a periodic survey, apart from our team Executive Alerts, on matters we...more
In re Estate of House, 2014 Wash. App. LEXIS 3006 (Wash. Ct. App. 2014) -
A release waiving any and all claims that the parties may have or may acquire, bars recovery for unknown claims existing at the time the release...more
How should fund directors monitor gifts and entertainment received by investment adviser personnel?
This question moved to the forefront in February, when the Securities and Exchange Commission’s Division of Investment...more
There are few circumstances in the practice of law that require more quick thinking and improvisation than defending a client at a temporary restraining order (“TRO”) hearing mere hours after meeting them for the first time....more
More than ten years after the Global Research Settlement and the adoption of NASD Rule 2711, the Securities and Exchange Commission (SEC or Commission) has approve new FINRA rules addressing conflicts of interest for both...more
Our previous article, "What to do When Hiring a Contract Attorney" (Daily Report, June 15, 2015), discussed some of the rewards and risks of using contract attorneys.
Based on the response from readers, one thing is...more
The Court of Federal Claims (“CFC”) recently made clear that mere access to pre-solicitation information creates a potential Organizational Conflict of Interest (“OCI”) that can invalidate an award. In Monterey Consultants,...more
New FINRA Rule 2241 consolidates and expands upon legacy NASD and NYSE rules to address equity research analyst activities, equity research reports, and conflicts of interest relating to equity research analysts. New FINRA...more
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