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'Up-the-Ladder' Responsibilities Clarified by Sarbanes-Oxley
As discussed on page 1 of this newsletter, the SEC recently issued 'Standards of Professional Conduct' for attorneys representing issuers before the SEC ' a new rule mandated by the Sarbanes-Oxley Act of 2002. See 15 U.S.C. ' 7201 et. seq. The Standards clarify an attorney's 'up-the-ladder' corporate reporting responsibilities imposed by the Act. 17 C.F.R. ' 205.
An attorney must advise his or her client's General Counsel or CEO whenever he or she receives 'credible evidence, based upon which it would be unreasonable, under the circumstances, for a prudent and competent attorney not to conclude that it is reasonably likely that a material violation has occurred, is ongoing or is about to occur.' 17 C.F.R. ' 205.2(e). A 'material violation' is defined broadly as a material violation of a federal or state securities law, a material breach of a fiduciary duty under federal or state law or a 'similar material violation of any United States, federal or state law.' 17 C.F.R. ' 205.2(i).
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
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Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.