Prudential

MoFo New York Tax Insights - Volume 4, Issue 5 - May 2013

by Open Weaver Banks, Hollis L. Hyans, Kara M. Kraman, Irwin M. Slomka | Morrison & Foerster - State + Local Tax... on 5/14/2013

In This Issue: New York Enacts Significant Changes to Related Member Royalty Add-Back Law; Nuclear Power Plant That Produces Steam and Water to Generate Electricity Not Eligible for Investment Tax Credit; Appellate...more

Orrick's Financial Industry Week in Review - April 15, 2013

by Orrick, Herrington & Sutcliffe LLP on 4/15/2013

Fed Proposal on Annual Assessments - On April 15, the Fed requested comment on a proposed rule to establish an annual assessment for bank holding companies and savings and loan companies with $50 billion or greater in total...more

De-Risking On Trial? U.S. Verizon Litigation Still Active

by Carol Buckmann | Osler, Hoskin & Harcourt LLP on 4/12/2013

In our March 13 webinar on de-risking defined benefit pension plans, I stated that the U.S. litigation launched by a group of Verizon retirees challenging the annuitization of their pensions was not dead, even though a...more

The FSA Fines Prudential £30m over its Failed $35.5bn Bid for AIA

by Orrick - Structured Finance Group on 4/5/2013

The fine has been levied for Prudential’s failure to inform the FSA that it was seeking to acquire the Asian arm of AIG at an appropriate time, in breach of FSA Principles and UKLA Listing Principles. ...more

Prudential Sues Bank of America Over $2 Billion in RMBS

by Orrick - Structured Finance Group on 3/28/2013

On March 14, several Prudential entities filed suit in the United States District Court for the District of New Jersey against several Bank of America and Merrill Lynch entities in connection with Prudential’s investments in...more

Recent Decisions Illustrate Strict Interpretation of Massachusetts Wage Act

by Lyndsey Kruzer, Michael L. Rosen, Rebecca Sivitz | Foley Hoag LLP on 3/18/2013

Two recent decisions from Massachusetts courts again highlight the strict requirements of the Massachusetts Wage Act, which details how and when employees must be paid. The cases address the treatment of sales commissions and...more

3 Keys to Drafting Commission Plans to Avoid Wage Act Violations

by Renee Inomata | Burns & Levinson LLP on 3/15/2013

As I mentioned in some of my prior posts, the Massachusetts Weekly Payment of Wages Act (“Wage Act”) poses many challenges to employers due, in part, to the vagueness of its terms, the strict liability it imposes on employers...more

Financial Services Tax – UK Update from Dechert’s Tax Group - February 2013: Privilege and Prudence

by David Gubbay, Daniel Hawthorne, Mark Stapleton | Dechert LLP on 2/14/2013

Legal advice privilege has seized the focus of attention yet again, as a result of the UK Supreme Court’s decision in Prudential delivered on 23 January 2013. In overview, Prudential sought to withhold documents including...more

Lennar’s 2012 Sales Revenue Exceeds Expectations

by James W. Shindell, Lindsey Zohn | Bilzin Sumberg Baena Price & Axelrod LLP on 2/11/2013

The talk of re-bound, recovery and strength in the real estate market is growing and now we have further evidence from one of Miami’s own. Miami-based Lennar Corporation, the largest U.S. homebuilder by market value, reported...more

UK Supreme Court Confirms Privilege Applies Only to Advice Provided by Members of The Legal Profession

by Matthew Herrington, James Ross, Tom Scott | McDermott Will & Emery on 1/25/2013

The long-awaited decision in the Prudential case was handed down by the UK Supreme Court on the morning of Wednesday 23 January. ...more

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