Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
<i>Forest Capital</i><br><i><font size="-1">Is It a Case of UCC Article 8 Versus 9?</i></font>
Institutions that maintain and manage securities accounts for businesses and other customers perform a critical function for the securities and lending industries. These intermediaries, consisting primarily of investment managers, broker-dealers and banks, manage more than $62 trillion in assets for both individual and institutional clients. In so doing, they enable customers to hold and borrow against investment property. See Amicus Brief of the Securities Industry and Financial Markets Association, Forest Capital v. Blackrock, No. 15-1551 (4th Cir. Sept. 21, 2015), at 1 (ECF No. 28-1).
UCC Article 8 provides what has been described as the “modern legal structure” for the system of holding securities through intermediaries. And through the interaction of Articles 8 and 9, the UCC both governs and facilitates the use of securities as collateral for obtaining credit. Note, UCC § 8-102(a)(14) defines a “securities intermediary” as a clearing corporation or a “person … that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity.” U.C.C. § 8-102.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
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.