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Compliance Hotline
SEC Takes Efforts to Improve Implementation of Section 404
On May 17, the Securities and Ex-change Commission announced a series of actions it intends to take to improve the implementation of the ' 404 internal control requirements of the Sarbanes-Oxley Act (SOX). The actions include issuing guidance for companies and working with the Public Company Accounting Oversight Board on revisions of its internal control auditing standard. In addition, the agency will include inspections of PCAOB efforts to improve ' 404 oversight and a brief further postponement of the ' 404 requirements for the smallest company filers, although the SEC announced ultimately all public companies will be required to comply with the internal control reporting requirements of ' 404. The actions the SEC expects to take include:
Guidance for Companies
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.
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.
Warehouse Liability: Know Before You Stow!
As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?