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In the Marketplace
GE of Fairfield, CT has agreed to sell its GE Capital, Transportation Finance business in the U.S. and Canada to BMO Financial Group (BMO). GE Capital, Transportation Finance provides wholesale and commercial end-user financing to OEMs, dealers and end users for heavy and medium duty commercial trucks and trailers. BMO will retain the Transportation Finance management team and employees. This sale is part of an announced strategy by GE to create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets and by focusing on continued investment and growth in its industrial businesses. GE will retain the financing businesses that relate directly to GE's industrial businesses.
The FASB and IASB have announced the availability of new lease capitalization calculators. The two boards have created two new worksheets to calculate the estimated impact of applying the proposed new lease accounting rules for lessees. One is an FASB version and the other is an IASB version. These revised worksheets reflect the FASB's decision to use a two-lease model. The FASB worksheet is available at http://tinyurl.com/nntf4ml and the IASB worksheet is available at http://tinyurl.com/nn3f4x5.
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.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.