The SEC has issued its second-ever whistleblower award. The award went to three anonymous individuals, each of whom will receive 5 percent of the monetary sanctions ultimately collected in a case against hedge fund manager...more
Introduction - US sanctions restrictions have traditionally exempted exchanges of information and informational materials. However, because the prohibitions on exports of software and services are sufficiently broad to...more
I. Introduction - The EU has renewed its sanctions against Syria until 1 June 2014, with the exception of the arms embargo. For Belarus, the Council has decided to delist three parties from the asset freeze...more
The U.S. Commodity Futures Trading Commission (CFTC) received Federal Court orders to charge three Utah residents from Bentley Equities (Bentley), LLC, over $2.7 million in disgorgement and civil monetary charges for...more
Plaintiffs’ counsel beware: to avoid Rule 11 sanctions you might actually have to talk to “confidential witnesses” yourself and corroborate their statements before citing them in a securities fraud complaint....more
The US government has again expanded the scope of its Iranian extraterritorial sanctions program with the enactment of the Iran Freedom and Counter-Proliferation Act of 2012 (the “IFCPA”). Among other things, the IFCPA...more
Remember 1995? It was a long time ago, so you can be forgiven for not recalling much of it. To re-orient you: it was President Clinton’s first term; the Oklahoma City bombing happened in April; a jury found O.J. Simpson not...more
On May 23, 2012, the U.S. State Department issued final “Responsible Investment Reporting Requirements” for Burma (also known as Myanmar). The long-awaited final rule confirms that U.S. persons will be required to submit: (a)...more
On May 23, the State Department announced that the Office of Management and Budget approved the final Burma Responsible Investment Reporting Requirements....more
A recent FINRA disciplinary action sends a strong message to broker-dealers that the development of their compliance systems — particularly with respect to email review and retention — must keep pace with the growth of their...more
When you think of sanctions, your mind probably goes to Rule 11 of the Rules of Civil Procedure. But what about Rule 37(b)(2)? It says that...more
Effective 14 March 2013, the Australian Government has introduced several changes to the existing employer sanctions framework in response to what was termed as an ineffective regime with very little enforceability....more
In this issue: - Table Of Contents - Table Of Authorities - I. Introduction. - II. Texas Citizens Participation Act: What is it? - A. Background and Enactment of the TCPA. - 1....more
In this presentation: - Overview and recommendations regarding hearing procedures. - Ways to maximize confidentiality and immunity protections under state law, HCQIA and the Patient Safety Act. -...more
On May 1, the Supreme Court of the State of New York, Appellate Division, overturned a lower court’s order requiring a lender to modify a borrower’s loan agreement under the terms employed in the trial period as the penalty...more
Has the Financial Conduct Authority (“FCA”) in the UK started as it means to go on? The FCA recently fined a UK subsidiary of a private Swiss Bank for failing to establish and maintain effective anti-money laundering controls...more
In Kleveland v. Siegel & Wolensky LLP, 2013 DAR 4961(2013) the California Courts of Appeal for the Fourth Appellate District affirmed the denial of a special motion to strike and the award of costs and attorney fees as...more
In this issue: - The Firm’s Ediscovery Team Attorneys - Case Insights - Editor’s Corner - Excerpt from Peerless Industries, Inc. v. Crimson Av, LLC, Case No. 1:11-cv-1768, 2013 U.S. Dist. LEXIS...more
On May 2, 2013, the SEC filed an order instituting settled administrative proceedings against the trustees (“Trustees”) and certain service providers of two “turnkey” open-end series investment companies, Northern Lights Fund...more
In Suffolk P.E.T. Mgt., LLC v. Anand, 2013 NY Slip Op 02335 (First Dep’t April 4, 2013), the Appellate Division, First Department affirmed an Order by the Supreme Court, New York County Commercial Division (Bernard J. Fried,...more
The Securities and Exchange Commission today charged the trustees of two “turnkey” mutual fund trusts with causing untrue or misleading disclosures about their review of the funds’ advisory contracts. The Commission also...more
On April 22, the European Union lifted all sanctions on Burma except an arms embargo. The sanctions had already been eased in April 2012, which left open the option of easily putting them back into place. The European Union’s...more
I. Introduction - The EU has updated its sanctions measures against Burma/Myanmar, Syria, North Korea and Libya. For Burma/Myanmar, the Council has decided to lift all economic sanctions, while keeping the...more
A March 23, 2013 decision from the U.S. District Court for the District of New Jersey serves as a cautionary tale for litigants. As a result of some arguably poor decisions by the plaintiff and likely miscommunication between...more
The Health Resources and Services Administration (“HRSA”) has issued a final rule (“HRSA Rule”) that will eliminate duplicative federal reporting requirements of provider sanctions and other adverse actions taken against...more
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