Financial services firms and their management should keep a close eye on developing cybersecurity regulations, so as to be better prepared to proactively address the shifting regulatory landscape as it continues to evolve.
The Supreme Court as a whole appears aligned and motivated to review critically federal and state asset forfeiture procedures. In addition, Attorney General Sessions last month restored the federal forfeiture of property seized by state and local law enforcement ("federal adoptions"), but with certain additional safeguards.
Potential Ramifications of SEC Disgorgement Being a Penalty
Part One of a Two-Part Article
In reference to Kokesh, most commentators have focused on the five-year limitations period, which certainly carries important ramifications for the SEC. But as we describe here, the Supreme Court's ruling that "SEC disgorgement constitutes a penalty" has more far-reaching ramifications.
Structured financing transactions make extensive use of entities formed for the specific purpose of reducing the likelihood that assets will be involved in a potential bankruptcy proceeding. Known as "bankruptcy-remote entities," or "BREs," these entities are subject to structures and covenants in financing documents and their own formation documents, which are designed to reduce the likelihood that the BRE will file for bankruptcy protection.
Part One of a Two-Part Article
With the preemption issue pretty well teed up, what do the courts say (to date)? A look at one recent ruling.
Traps for the Unwary or Lifesavers for the Unlucky?
The WARN Act contains several affirmative defenses that provide employers with a complete defense to liability under the statute when a company's exigent condition forces an immediate cessation of operations. This article identifies the key features (including the benefits and drawbacks) of each.
This edition of the Quarterly State Compliance Review looks at some legislation of interest to corporate lawyers that went into effect between May 1 and July 1, as well as some recent cases of interest from the courts of Delaware, Michigan, and Texas.
A recent decision by the Delaware Court of Chancery serves as a reminder that boards of directors of Delaware corporations should consider amending their companies' director compensation plans to include specific limits on the amount of compensation that a director may be awarded in a given year, and obtaining stockholder approval of such compensation plans.
There are a few early signs that the Trump administration will continue to hold companies to the “way of compliance.” But after the first five months of his presidency, there are still questions about where enforcement is heading in specific compliance areas.
Gil v. Winn-Dixie Stores, Inc.
After years of demand letters, complaints and settlements, a website accessibility lawsuit under Title III of the Americans with Disabilities Act finally went to trial. The case is remarkable not just because it is the first of its kind to go to trial, but also because the court's opinion does not consider whether a website owner can employ alternatives other than WCAG 2.0 to make website content "accessible."
