Transparency

News & Analysis as of

Proposed Legislation Would Toughen Economic Disclosure Requirements for California Officials

In the wake of various investigative reports and public scandals, California lawmakers have proposed reform legislation aimed at providing greater transparency and accountability in government. Three separate bills are now...more

Show me the money! – New rules on disclosing invoice payment practices

The Government has confirmed it intends to require large publicly-traded companies to publish extensive details on their practices and policies for paying invoices....more

New Guidance for Transparency in “Best Value” Procurements

“Best value” procurements are sometimes criticized as involving a “black box” decision-making process. A recent report issued by the National Cooperative Highway Research Program (“NCHRP”) discusses practices to increase...more

Sunshine Creeps into Dark Corners of Harrisburg

National Sunshine Week did not exist in the 1700s, but the Founding Fathers knew all too well the frustrations of accessing public records and even wrote about it right here in Philadelphia. Originally published in The...more

Orrick's Financial Industry Week in Review

European Commission Unveils Tax Transparency Package - The European Commission has laid out its plans in a new Tax Transparency Package to clamp down on tax deals made between EU governments and multi-national...more

French Supreme Administrative Court decision significantly broadens scope of the French ‘Sunshine Act’

On 24 February 2015, the French Supreme Administrative Court (Conseil d’Etat) reached a landmark decision which significantly expands the scope of the so-called French Sunshine Act....more

“Enhanced” Transparency Requirements Expand Current Disclosure Obligations (But Temporarily Exempts Smaller Providers)

The Order does not formally modify the text of the existing “transparency” rule, which was upheld by the D.C. Circuit in Verizon v. FCC in 2014. However, the Order does prescribe numerous “enhancements” to the rule, which...more

UK: Secondary ticketing market to become more transparent

The UK Government has agreed to an amendment to the Consumer Rights Bill which will make the secondary ticketing market more transparent and help to protect secondary ticket buyers against fraud....more

SDNY Recognizes Party Using TAR Not Required to Disclose Control Sets to Opposing Party

Magistrate Judge Andrew J. Peck’s recent decision in Rio Tinto PLC v. Vale S.A., S.D.N.Y., No. 14 Civ. 3042 (RMB)(AJP) (March 2, 2015), recognizes disclosure of non-responsive documents is not a per se requirement in cases...more

Don’t TAR and Feather Technology in E-Discovery

In the three years since the watershed decision in Da Silva Moore v. Publicis Groupe, technology-assisted review (TAR) has transformed from being a merely “acceptable way to search for relevant” ESI into “black letter law...more

FDIC Vice Chairman Highlights Set of Supervisory Principles For Larger Institutions

On March 2, FDIC Vice Chairman Thomas Hoenig addressed the Institute of International Banking Annual Conference in Washington, D.C. In his prepared remarks, Vice Chairman Hoenig, who formerly served as President of the...more

Technology-Assisted Review: Please Show Me Your Seed Set

It has been three years since Magistrate Judge Andrew Peck issued his February 2012 decision in Da Silva Moore v. Publicis Groupe & MSL Group, 287 F.R.D. 182 (S.D.N.Y. 2012), judicially accepting for the first time the use of...more

White House Releases Memorandum On Safeguarding Privacy In Domestic Use Of Unmanned Aircraft Systems

On February 15, the White House issued a Presidential Memorandum setting out rules to safeguard privacy, civil rights and civil liberties in the domestic use of Unmanned Aircraft Systems (“UAS”), sometimes referred to as UAVs...more

New and Improved RACs

During the CMS Hospital/Quality Initiative Open Door Forum call on February 24, 2015, CMS issued a 4-page document summarizing the improvements it has implemented to the RAC program. CMS introduced 20 changes to address...more

FCPA Compliance and Ethics Report-Episode 136, Joel Borgquist, President of Etik [Video]

In this episode, I visit with Joel Borgquist, President of Etik a company that works to insure transparency in corporate social responsibility programs and assists in conflict resolution. ...more

Proposed Law Aims to Remove Shroud of Secrecy in Court Settlements

A cadre of corporations whose profit margins outweigh product safety have found a loophole in the litigation process: sealed settlement agreements. Such agreements are legal, as there is no law prohibiting them, and often...more

Net Neutrality/Open Internet Order

At its open meeting today, Feb. 26, the Federal Communications Commission (FCC) voted 3-2 along party lines to adopt an order on net neutrality, or open Internet. The text of the order is not yet released but, based upon...more

ESMA Publishes Additional Consultation Paper on MiFID II/MiFIR Implementation

On February 18, the European Securities and Markets Authority (ESMA) published a new consultation paper (CP) on the implementation of the transparency provisions of the revised EU Market in Financial Instruments Directive...more

FMLC Publishes Letter to European Commission on Reporting and Transparency of Securities Financing Transactions

On February 10, the UK Financial Markets Law Committee (FMLC) published a letter to the Director-General for Financial Stability, Financial Services and Capital Markets Union of the European Commission. The letter discusses...more

CFPB Takes Aim at Relationships between Universities and Credit and Debit Card Issuers

Financial institutions marketing credit and debit cards to college and university students should prepare for likely investigations and enforcement actions by the Consumer Financial Protection Bureau and other regulatory...more

Frequently Asked Questions on the U.S. Government’s National Action Plan on Responsible Business Conduct

On February 12, the U.S. Department of State released a set of “Frequently Asked Questions” (“FAQs”) with regard to the U.S. Government’s efforts to develop a National Action Plan on Responsible Business Conduct. The plan is...more

Florida Appellate Court: Open Meetings Law Applies to Collective Bargaining

In a crucial victory for transparency, a Florida state appeals court ruled that the state's open meetings law will not "condone hiding behind federal mediation" when municipal governments try "to thwart the requirements of...more

Local Agencies Face Suits Alleging Brown Act Violations for Failing to Release Closed Session Vote Details

Closed Session Decision and Vote Details Must be Publicly Reported Within 24 Hours - Pasadena City College is facing criticism — and a lawsuit — for its preceived lack of transparency regarding its Board of Trustees’...more

Preserving Pedigree: The Fifth Circuit Reverses Lower Court's Finding of Antitrust Conspiracy Involving Quarter Horse Association...

In a closely watched case out of a Texas federal court, the Fifth Circuit recently reversed the district court and found that the evidence was insufficient to show that the American Quarter Horse Association (AQHA) unlawfully...more

When can an organization conspire with itself?

The U.S. Court of Appeals for the Fifth Circuit last week reversed a jury verdict and rendered judgment for American Quarter Horse Association (AQHA) in a much-contested antitrust case about AQHA’s ban of cloned horses. The...more

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