Standards & Procedures

News & Analysis as of

IRS Announces Offshore Voluntary Disclosure Modifications and Revised Streamlined Procedures

On June 18, 2014, the IRS made significant changes to the procedures pursuant to which U.S. Persons can disclose any failure to timely file a Report of Foreign Bank and Financial Accounts (FBAR), and/or an international...more

IRS Announces Major Changes to Offshore Voluntary Disclosure Program

On June 18, 2014, the Internal Revenue Service (IRS) announced major changes in its offshore voluntary compliance programs. The changes include an expansion of the streamlined filing compliance procedures and key...more

District of Delaware’s Judge Stark Issues New Patent Case Procedures

Judge Leonard P. Stark of the United States District Court for the District of Delaware has published new procedures that he will follow in non-ANDA patent cases filed on or after July 1 and assigned to him. The new...more

OCC’s Interim Volcker Rule Examination Procedures Provide Much-Needed Guidance to Banks Seeking to Comply

On June 12, 2014, the Office of the Comptroller of the Currency (OCC) issued interim procedures for examiners to assess banks’ progress in developing a framework to comply with the requirements of what is commonly known as...more

OCC Issues Volcker Rule Interim Examination Procedures

The OCC has issued interim examination procedures for Volker Rule compliance. The purpose of the interim examination procedures is to help examiners determine whether banks have business activities or investments that are...more

A Close Look At Internal Controls

Companies with ineffective internal controls face risks of embezzlement and self-dealing by employees, bribery, export control violations and other possible legal violations. The payment of foreign bribes often occurs in...more

Litigating in California State Court, but Not a Local? Plan for the Procedural Distinctions (Part 2) — Unique Discovery Procedures...

This fourth installment of the “Welcome to California Business Litigation” series—Part 2 in a two-part series dedicated to examining procedural distinctions between California state court civil procedures and Federal...more

Eligibility for Reimbursement from the Underground Storage Tank Indemnification Fund Cannot Be Determined on a Per Tank Basis

On June 17, 2013, the Pennsylvania Supreme Court in Young’s Sales and Service v. Underground Storage Tank Indemnification Board, reversed a decision of the Commonwealth Court and held that eligibility for indemnification for...more

Industry, Environmentalists Agree On Voluntary Hydraulic Fracturing Standards

Yesterday a consortium of energy companies, environmental organizations, and philanthropic foundations announced that they have collaborated to form an organization — the Center for Sustainable Shale Development (CSSD) — that...more

Establishing an Effective Compliance Program: An Overview to Protecting Your Organization

In This Issue: - Overview - Standards and Procedures - Organizational Leadership and Culture - Reasonable Efforts to Exclude Bad Actors From Managerial Ranks - Training and Education - Monitoring,...more

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