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Consequences for FCPA Compliance
Part Two of a Two-Part Article
Over the past year, most issuers have been preoccupied with the basics of Sarbanes-Oxley compliance, with the result that some of the subtler compliance implications have not yet been fully appreciated. However, as discussed last month, it is evident that the provisions of the Act will have implications for compliance in all substantive areas in which a company maintains a compliance program, but especially those having payment and financial dimensions, such as the FCPA Section 302, already mentioned in the disclosure discussion last month. Section 302 requires the periodic certifications to state that appropriate disclosures to the Board and auditors have been made with respect to significant deficiencies and material weaknesses in internal controls. Section 404 provides for each annual report of an issuer to contain an internal control report, and for attestation by the external auditors of management's internal control assessment. Section 406 requires a code of corporate ethics for senior financial officers, which is defined to include compliance with law obligations. Section 906 contains new criminal penalties for false certifications.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.