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New FTC Rule Revises Disclosure Procedures
The recently released final FTC Rule ('New Rule') on franchising is notable not only for the revised disclosure requirements in Items 1 through 23, but also for the changes it makes to the franchise disclosure process.
Under the existing FTC Rule, the disclosure process is triggered by the first personal meeting between a franchisor and a prospective franchisee, but, if there has been no such meeting by them, at least 10 business days before the execution of any binding agreement or a payment to the franchisor or an affiliate in connection with the franchise sale. The New Rule does away with the first personal meeting criterion and replaces with 14 calendar days the 10-business-day advance disclosure period. A disclosure document also must be provided if requested by a prospective franchisee, even if that request is before the 14-calendar-day period.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.