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New Guidance on Whistleblower Hotlines in the EU
Congress enacted the Sarbanes-Oxley Act ('SOX') in 2002 in response to a series of corporate scandals that diluted confidence in the U.S. financial markets. The law was intended to improve the accuracy and reliability of corporate disclosures and financial statements and to enhance the ethical standards and accountability of companies that are publicly traded on U.S. stock exchanges. SOX imposes compliance obligations not only on publicly traded companies in the United States, but also on non-U.S. entities listed on U.S. exchanges. While Congress made significant efforts in drafting SOX to ease potential legal conflicts in non-U.S. jurisdictions, in certain instances the law imposes compliance obligations on non-U.S. entities that conflict with local laws.
Last year, a conflict arose between SOX's mandate that audit committees of public companies establish whistleblower hotlines on the one hand, and data protection laws in the Member States of the European Union ('EU') on the other. In response to a groundswell of concern from companies forced to comply with both SOX and EU data protection laws, European data protection authorities and the EU Article 29 Data Protection Working Party have issued guidance that will allow companies to comply with both sets of laws.
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.
When Is a Repair Structural or Nonstructural Under a Commercial Lease?
A common question that commercial landlords and tenants face is which of them is responsible for a repair to the subject premises. These disputes often center on whether the repair is "structural" or "nonstructural."