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The Food Safety Modernization Act
Comprising the largest rewrite of U.S. food safety regulations in more than 70 years, the Food Safety Modernization Act (FSMA), which was signed into law on Jan. 4, 2011, has broad implications for almost all constituents involved in the food and feed industry. See Food Safety Modernization Act Public Law III – 353, 124 Stat. 3885, Jan. 4, 2011; 21 U.S.C. 301 et seq. The significant impact of the law was anticipated by food growers, producers, manufacturers, importers, carriers, distributors and retailers, but FSMA's effect on equipment lessors and other secured lenders requires some consideration and analysis.
At the recent ELFA Legal Forum, a passing mention of FSMA by panelists at the Legal Update Session likely came as no surprise to lawyers practicing in the agriculture sector, but it definitely raised curiosity among leasing lawyers who don't routinely represent clients involved in the food and feed supply chain. A high-level review of FSMA, however, quickly reveals just how seriously the law impacts most companies directly and indirectly that are involved in this large segment of the U.S. economy, including equipment manufacturers, lessors and lenders.
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.