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Lack of Transparency In SEC Settlement Penalty Calculations May Frustrate Self-reporting
U.S. Securities and Exchange Commission (SEC) settlements are meant to serve a public good by providing clear guidance as to the rules of the road and the consequences of ignoring them. Yet SEC settlements often lack explanation as to how the civil monetary penalties were calculated per the statutory framework or why such penalties were appropriate under the circumstances. This lack of transparency tends to create market confusion and may frustrate certain behavior the SEC seeks to encourage, namely self-reporting.
In light of skyrocketing overall monetary recoveries by the SEC — e.g., in the SEC's 2022 fiscal year, the SEC recovered a record $6.4 billion in penalties, disgorgement and prejudgment interest; in the 2023 fiscal year, the SEC recovered $5 billion — and stunning penalties in the broker-dealer off-channel communications settlements, the lack of transparency in penalty calculations is especially in focus (see, Gensler, "'Partners of Honest Business and Prosecutors of Dishonesty': Remarks Before the 2023 Securities Enforcement Forum").
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Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
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.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.