Monthly Archives: November 2011

FINRA Rules & Regulations: Record-keeping, Advertising, Disclosure and More

The Financial Industry Regulatory Authority (FINRA) is the largest regulator for all securities firms doing business in the United States, charged with protecting investors by maintaining the fairness of the U.S. capital markets. For your reference, here’s a roundup of recent commentary and analysis on FINRA rulemaking, from lawyers and law firms on JD Supra:… Read more »

Proxy Voting: Institutional Shareholder Services 2012 Guidelines Released

“On November 17, Institutional Shareholder Services Inc. (ISS), a leading provider of corporate governance solutions to the global financial community, released its final 2012 updates to its proxy voting guidelines, which will be used by ISS in formulating its 2012 voting recommendations for publicly held companies with shareholder meetings on or after February 1, 2012.”… Read more »

FATCA Puts Foreign Banks on Notice…

“[The Foreign Account Tax Compliance Act] imposed a substantial withholding tax, due diligence, and reporting regime on non-U.S. entities to enlist their assistance in rooting out U.S. taxpayers who are using offshore entities and accounts to hide their assets and income. Unfortunately, the rules are lengthy, difficult to comprehend, expensive to implement, and will likely… Read more »

Stop Online Piracy Act: What Does SOPA Mean For Businesses?

We reported earlier this month on SOPA: the Stop Online Piracy Act, currently being considered in the House of Representatives, and its Senate equivalent, the Protect IP Act (also known as the E-PARASITE Act, just to add to the confusion).  Critics of the proposed legislation (which now include the European Union) may be gaining the upper… Read more »

MF Global Bankruptcy: Latest Commentary and Analysis

“The trustee liquidating broker- dealer MF Global Inc. said distributions of collateral in customers’ accounts are ‘dependent upon assets available and there is no assurance of a 100 percent return.’ The trustee, James Giddens, got court permission yesterday to transfer $520 million in assets to about 23,300 accounts. While planning a third transfer to include… Read more »

Employee Benefits Plans: DOL Revises 401(k), ERISA Rules

em While you were working, the Department of Labor changed the rules governing disclosure of fees and providing investment advice to participants in ERISA, 401(k), and other retirement plans. For your reference, here’s a roundup of commentary and analysis on the DOL’s revised regulations, from lawyers and law firms on JD Supra: On Investment Advice… Read more »

FCPA Updates: Olympus, Esquenazi Appeal, Increased Enforcement, Department of Justice Guidance…

For your reference, here’s a roundup of recent commentary and analysis regarding the Foreign Corrupt Practices Act. From lawyers and law firms on JD Supra: DOJ and SEC Affirm Continued Commitment to Rigorous FCPA Enforcement (Morgan Lewis): “At the 26th annual National Conference on the Foreign Corrupt Practices Act (FCPA), held November 8 and 9,… Read more »

MF Global Bankruptcy: Updated Commentary and Analysis

“Regulators hunting for about $600 million in customer money that went missing shortly before MF Global Holdings Ltd. collapsed said they are being stymied by the poor condition of the securities firm’s records. ‘Their books are a disaster,’ Scott O’Malia, a commissioner at the Commodity Futures Trading Commission, one of the regulators leading a hunt… Read more »

Doc of the Day: Living Wills: The Final Rule — A User Guide

Morrison & Foerster’s comprehensive guide to the FDIC living wills rule: “With a final rule recently approved by the Federal Reserve Board of Governors (‘FRB’) and the Federal Deposit Insurance Corporation (‘FDIC’), and a related interim rule applying to covered insured depository institutions, every covered company, U.S. and worldwide, should now begin its early-stage resolution… Read more »

Private Equity and the FCPA: Time to Get Serious About Corruption

“The private equity industry is the latest target of an unprecedented explosion in Foreign Corrupt Practices Act (“FCPA”) enforcement by U.S. regulators. As the industry expands to emerging markets overseas and faces new Dodd-Frank regulations, private equity firms and hedge funds are under heightened scrutiny from the Department of Justice and the Securities and Exchange… Read more »

China Business Law: Recent Updates & Commentary

For your reference, a roundup of recent China-related business updates and legal commentary, including analysis of the Ministry of Commerce’s security review system for foreign M&A of domestic companies and other foreign direct investment into China developments: On Foreign Direct Investment into China… China Implements a Security Review System for Certain Mergers and Acquisitions of… Read more »