Monthly Archives: October 2012

Global Antitrust Developments: A JD Supra Legal Reader

“Health care, media, technology and communications, and financial services all are industries where we have seen merger and nonmerger antitrust activity; for financial services, there even has been cartel behavior… The intersection of intellectual property and antitrust also is likely to be active, as we have witnessed in the public statements of government officials around… Read more »

In Rubin v. Eurofinance, UK High Court Rejects Jurisdiction of US Bankruptcy Court

Earlier this week, the Supreme Court of England and Wales ruled that a United States Bankruptcy Court decision against an individual not subject to US court jurisdiction could not be enforced in the United Kingdom. From Skadden Arps: “Traditionally, under English conflict of law rules, a foreign judgment may only be enforced in England at… Read more »

Focus on: High Frequency Trading and the Troubled Markets

Bloomberg Law’s Lee Pacchia talks with Ralph Ferrara, partner at Proskauer Rose and General Counsel of the Securities and Exchange Commission from 1978 to 1981, about high frequency trading, the problems it caused, and what solutions are needed. Some highlights: “What we’ve pulled out of the process is human judgment making; that’s got to be… Read more »

Dodd-Frank Update: CFTC Delays Swap Dealer Registration Rule

“[S]wap dealers would be granted a short-term delay on a new rule that mandates the counting of swaps as a component of registration… The new rules have been the subject of controversy and presidential debate politics over the last few weeks. Republicans have accused the CFTC of ideological maneuvering and wastefulness as they pursue controversial… Read more »

Equifax Settles Charges of Unauthorized Sale of Consumer Mortgage Data

Earlier this month, the Federal Trade Commission announced a settlement with consumer reporting agency Equifax and a data reseller over the unauthorized sale of lists containing the names of mortgage holders, a violation of the Fair Credit Reporting Act. Alison Finnegan at law firm Schnader explains: “According to the [FTC] charges, Equifax sold lists of… Read more »

Iran Sanctions Now Apply to Foreign Subsidiaries of U.S. Corporations

On October 9, President Obama issued an Executive Order that makes foreign subsidiaries of U.S. corporations subject to sanctions on doing business with Iran. From law firm King & Spalding: “Under Section 4 [of the Iran Threat Reduction and Syria Human Rights Act], no entity that is owned or controlled by a U.S. person and… Read more »

Doing Business in China: A JD Supra Legal Reader

A cautionary tale kicks off this latest edition of Doing Business in China: Sixing Liu, a Chinese national with U.S. residency, was arrested and charged with export control violations when returning from a trip to China one year ago. From law firm Miller Canfield: “Liu allegedly took export-controlled technical data on military technology (Controlled Data)… Read more »

What’s New in Non-Compete News? Drafting Tips, Unfair Competition, China…

For your reference, a roundup of helpful commentary and analysis regarding non-compete agreements, new writing from lawyers and law firms on JD Supra: Six Factors to Consider When Drafting Non-Compete Agreements (Dinsmore & Shohl LLP): “Is the industry in which the employer is engaged, and in which the employee desires to continue working, highly competitive?… Read more »

New UK Bribery Act Rules Reveal Tougher Stance on Corruption

On October 9, the UK’s Serious Fraud Office (SFO) published new guidelines for the UK Bribery Act, setting the stage for significantly stricter enforcement of the anti-bribery law. Raymond Sweigart of law firm Pillsbury explains: “The SFO now says that it will prosecute under the Bribery Act based primarily on the statute itself rather than… Read more »

Nonprofit Update: IRS Changes Rules to Facilitate Foreign Giving

In late September, the Internal Revenue Service proposed new regulations that will reduce barriers to international donations. Under IRS rules, when making gifts to foreign organizations, private foundations must determine that the organization is equivalent to a U.S. public charity or risk liability for excise taxes on the donation. That requirement remains in place. The… Read more »

Dodd-Frank Q&A: Proposed New NYSE and NASDAQ Compensation Committee Rules

Financial reform is a hot issue in this year’s presidential race (no surprise, of course) – but while the candidates duke it out on the finer points of how they would handle matters, Dodd-Frank marches on. The latest? Regulations on the independence of compensation committees at companies listed on the nation’s two largest stock exchanges.… Read more »

Repeal Dodd-Frank? But What Is It, Exactly?

“MR. LEHRER: You want to repeal Dodd-Frank? MR. ROMNEY: Well, I would repeal it and replace it.” (New York Times) The Dodd–Frank Wall Street Reform and Consumer Protection Act, both criticized and praised by Republican presidential candidate Mitt Romney in last night’s inaugural presidential debate, was passed in 2010 purportedly to end the practices that… Read more »

From Russia, With Love: 3 Legal Updates

These recent updates aimed at foreign companies doing business in Russia remind us of the stark contrast between Ian Fleming’s Cold War Russia and the Russia of today, which joined the World Trade Organization earlier this summer. On accounting, arbitration and anti-corruption, from Russia with JD Supra love: 1. New accounting rules on January 1,… Read more »

EU Lays Out Cloud Computing Strategy: 3 Takeaways for Businesses Operating in Europe

In late September, the European Commission published “Unleashing the Potential of Cloud Computing in Europe,” a detailed report on the current state and future promise of working “in the cloud” across the EU. The report sets the stage for what the Commission hopes will be a rapid development of cloud computing technology and services, while… Read more »