Due Diligence

News & Analysis as of

US–EU Safe Harbor – Struck Down!

1. CJEU finds Safe Harbor Invalid - In a landmark ruling delivered today, Europe's highest court, the Court of Justice of the European Union (CJEU) declared that the EU Commission's US - EU Safe Harbour regime is...more

SEC Approves Rule to Regulate Debt Research Reports and Debt Research Analysts

Background - Eight years in the making, the US Securities and Exchange Commission (SEC) has finally approved the Financial Industry Regulatory Authority’s (FINRA's) proposed Rule 2242 (the Rule or Rule 2242), which will...more

In re Steed (Fed. Cir. 2015) - Swearing Behind Reference Still Requires Proof of (Timely Filed) Evidence

Thomas Steed, Sourav Bhattacharya, and Sandeep Seshadrijois (collectively "Steed") filed a patent application entitled "Web-Integrated On-Line Financial Database System and Method for Debt Recovery," on April 6, 2004, with...more

Basic Tax Issues in Mergers and Acquisitions

Mergers and acquisitions ("M&A") are complex, multilayered transactions with multiple moving parts and a healthy dose of negotiation. There are, however, common tax implications at play in most transactions of which...more

SEC Charges EB-5 Brokers For Not Registering

Multiple firms involved in the solicitation of investment capital for the Immigrant Investor Program (also known as "EB-5") have recently been charged by the SEC with acting as unregistered brokers. Neither In re Ireeco, LLC,...more

SEC Announces Second Wave of MCDC Enforcement Actions

The Securities and Exchange Commission (SEC) this week announced enforcement actions under its Municipalities Continuing Disclosure Cooperation (MCDC) Initiative, targeting 22 municipal bond underwriting firms for alleged due...more

Securitisation: Keeping it Simple?

On 30 September 2015, the European Commission (the “Commission”) published a proposal for a regulation (the “Proposed Regulation”)1 intended to harmonise existing EU laws applying to securitisations (including proposed...more

Third Circuit Applies Constructive Knowledge Standard And Finds Waiver Of Arbitration Panel Challenge

The U.S. Court of Appeals for the Third Circuit has found that post-award objections to an arbitrator were waived because the party had constructive knowledge of the arbitrator’s insufficient disclosure. The court held that a...more

Buyers Must Soon Comply With New Environmental Due Diligence Standard

Purchasers of commercial real estate must meet a new standard to qualify for liability protection under the federal Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) and analogous state laws. Since...more

Third Circuit Adopts "Constructive Knowledge" Standard for Post-Award Attempts to Disqualify Arbitrators

In a recent opinion addressing an issue of first impression for the court, the United States Court of Appeals for the Third Circuit held that a “constructive knowledge” standard applies to post-award challenges to an...more

The Draft EU Securitisation Regulation of 30 September 2015

The new draft regulation ‘laying down common rules on securitisation and creating a European framework for simple, transparent and standardised securitisation’ (the “STSR”) proposes new rules relating to...more

Conflict Minerals Disclosure for Calendar Year 2015: "Conflict Undeterminable" Generally No Longer Permitted

The "DRC Conflict Undeterminable" determination, widely employed in conflict minerals reports to date, will not be permitted for issuers (other than small companies) reporting in 2016 on activities in calendar year 2015. At...more

Brokers: Rely on Broker Statements at Your Peril

Alamo Group, LLC v. A & G Realty Partners, LLC (In re OSC 1 Liquidating Corp.), 529 B.R. 825 (Bankr. D. Del. 2015) – A purchaser of debtors’ lease designation rights filed a complaint in bankruptcy court against the debtors’...more

SEC’s Increased Cybersecurity Enforcement and How to Reduce Your Risks

The SEC announced last week that an investment adviser had agreed to settle charges that it failed to take required steps to protect against and respond effectively to a cybersecurity breach. The action comes on the heels of...more

Upper Tribunal dismisses FCA allegations of incompetence

PRA and FCA The Upper Tribunal has clarified its decision in the case of Timothy Alan Roberts and Andrew Wilkins of Catalyst Investment Limited as reported in FReD 14 August 2015. FCA has, as a result, clarified the Tribunal...more

SEC Settles FCPA Action With Hitachi

The SEC filed a settled FCPA books and records and internal controls action centered on a firm which used a subsidiary partially owned by a foreign political party to influence the award of government contracts. Specifically,...more

The SEC OCIE Announces Increased Scrutiny of Broker-Dealers’ and Investment Advisers’ Cybersecurity Programs

On September 15, 2015, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a National Exam Program Risk Alert (2015 Risk Alert) to provide broker-dealers and investment...more

The New Paradigm in Vendor Management Under the CFPB

This past July marked the fifth anniversary of the creation of the Consumer Financial Protection Bureau (CFPB), a period marked by sweeping changes to the regulatory and administrative environment in which financial...more

TN Ethics Opinion Approves Lawyers’ Cloud Storage of Client Data

Tennessee has joined other states in formally approving lawyers’ cloud-storage of client-confidential data. The Board of Professional Responsibility (“BOPR”) held that lawyers ethically may use cloud storage for...more

ECJ publishes MLD3 due diligence interpretation opinion

ECJ has published an opinion in the case of Safe Interenvíos S.A. v. Liberbank S.A. and Others. Three banks had closed accounts a payment institution held with them, on the basis of money laundering concerns. The request for...more

Modern Slavery Act 2015

The Modern Slavery Act 2015 (the “Act”) comes into force on 1 October 2015 and requires organisations to publish a statement in each financial year setting out the steps they have taken to tackle the problem of slavery and...more

Considering Selling Your Company? Tip #2: Stage Your Company

Nearly every founder or executive considers selling their company at one point or another. Before embarking on the complex process, it is crucial for the company leaders – especially within the ever-evolving tech community –...more

Heads Up on Startups: What Acquirers Need to Know Prior to the Purchase

Acquiring a startup often provides the acquirer with access to new markets, products, solutions and services, as well as innovative ideas and a pipeline of future products. While the idea of acquiring the “next big thing” is...more

ISSA adopts securities custody and settlement financial crime principles

ISSA has adopted a set of financial crime compliance principles which aim to support the efforts of the global community of securities custodians and intermediaries to address the critical challenges posed by financial crime....more

FATCA: IRS Extends Transitional Rules

On September 18, 2015, the IRS announced its intention to amend the U.S. FATCA regulations to extend the effectiveness of certain transitional rules, including...more

607 Results
View per page
Page: of 25

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.