A Price Worth Paying?
Suzanne Folsom on Corporate Compliance Issues -
On December 11, 2013, the Federal Financial Institutions Examination Council (the “FFIEC”), on behalf of its members (the OCC, FRB, FDIC, NCUA and the Consumer Financial Protection Bureau (“CFPB”)), released final guidance...more
The United States spends over $2.81 trillion dollars on health care annually and generates billions of claims from millions of health care service and product providers. The vast majority of these providers of services and...more
This OnPoint describes the role of the SEC’s Division of Investment Management (Division) in uncovering the alleged fraud through an analytical review of the Fund’s performance data and portfolio information. It then...more
The five US financial agencies (“Agencies”) have approved jointly prepared final regulations (“Final Rules”) to implement the prohibitions on engaging in proprietary trading and investment in or sponsorship of a private...more
On December 10, 2013, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity...more
The FRB issued guidance on managing outsourcing risks, intended to highlight the potential risks arising from the use of service providers, describe the components of an appropriate service provider risk management program,...more
Sing it with me now….. FIVE GOLDEN RULES!
As public companies prepare for the New Year and the start of yet another annual reporting season, it is the perfect time to reflect on our 2013 prediction that the SEC would...more
In a decision of significance to the distressed claims trading community, the US Court of Appeals for the Third Circuit in In re KB Toys Inc. recently held that any risk or “cloud” of disallowance under the Bankruptcy Code...more
The Problem -
The explosion of nonprofits across the country in recent years has been accompanied by significant increases in employment and capital management in the nonprofit world. Rhode Island is no different in...more
On December 5, 2013, the Federal Reserve Board (FRB or the Fed) issued Supervision and Regulation Letter 13-19, which details and attaches the Fed’s Guidance on Managing Outsourcing Risk (FRB Guidance). The FRB Guidance...more
On December 11, 2013, the Federal Financial Institutions Examination Council (FFIEC) released final guidance (“Guidance”) on the applicability of consumer protection and compliance laws, regulations, and policies to...more
On 30 September 2013 the President signed Federal Law No. 260-FZ amending Part III of the Civil Code of the Russian Federation.
The Law is the sixth set of amendments to the Russian Civil Code within the civil law...more
On November 21, 2013, Institutional Shareholder Services Inc. (“ISS”) released its final US policy updates for the 2014 proxy season (the “2014 Policies”), having received comments to its draft policies released on October...more
Companies seeking an alternative to traditional risk management approaches are increasingly turning to the captive insurance market, especially for recurring and foreseeable losses.
As most commonly understood, the...more
Today is National Remembrance Day for Veterans who served their country and across the world. In the US we call it Veterans Day....more
Discussion and Analysis -
Clients and prospective clients often will ask us a series of questions: “Does my proposed activity violate a specific law or regulation?” “If so, what are the potential consequences to me of...more
Thomas P. Vartanian, Chair of Dechert’s Financial Institutions practice, responded to the U.S. Securities and Exchange Commission's (SEC) request for comments, on behalf of certain clients, by comprehensively criticizing the...more
The transportation industry is always searching for new technology and best practices that can eliminate or reduce risky driving behavior, improve the overall efficiency and effectiveness of fleets, and avoid frivolous and...more
The Bureau of Land Management released a new Instructional Memorandum 2013-151, clarifying the re-evaluation of bonds required for operations on federal lands. The purpose was to clearly define the terms and conditions now...more
On Friday, October 25, 2013, Governor Corbett signed HB 1481 into law, which adopts provisions of the NAIC’s Own Risk and Solvency Assessment Model Act (ORSA). HB 1481 also gives much needed direction to Pennsylvania insurers...more
Companies operating internationally often engage numerous – sometimes even thousands – of third parties around the world to help facilitate their business. Alongside the growth of such relationships, the risks posed by them...more
In times of austerity in Europe and America, emerging markets such as Africa, China, India, Latin America, the Middle East and CIS are increasingly offering the key opportunities for growth and investment returns for private...more
I’ve devoted several recent posts to the Securities and Exchange Commission’s new “bad actor” rule because it is awash with a sea of troubles for issuers, both private and publicly traded. The rule prevents issuers from...more
In an earlier posting, I reviewed the OCC’s new Commercial Real Estate Lending handbook . The purpose of the handbook is to give parenting – I mean guidance – on risks inherent in commercial real estate lending. On legal...more
I used to jokingly tell people that when I moved from design engineering into the law I went from the most productive field in the world to the most counter-productive field. This joke plays on the common misconception that...more