Late last year, many social media and internet giants announced plans to overhaul their advertising policies for political content. Entities that actively sponsor election-related advertising should make themselves aware of these new changes. Although questions remain about some specifics, and there may be more changes to the policies in the near future, here is what […]
On March 20, 2018, the Supreme Court issued a unanimous decision in Cyan, Inc. v. Beaver County Employees Retirement Fund,[1] a case concerning the Securities Litigation Uniform Standards Act of 1998 (“SLUSA”), which imposes certain limitations on class actions under the Securities Act of 1933 and the Securities Exchange Act of 1934. The Court resolved […]
Nothing more underscores the seriousness of governmental efforts to prevent money laundering than the parade of fines against and settlements by banks and other financial services companies than U.S. Bancorp’s recent agreement to pay $613 million to the U.S. Treasury Department’s Office of Comptroller of the Currency and the Federal Reserve for inadequate anti-money laundering […]
Last fall, Facebook announced a disclosure program for users of its platform specifically aimed at requiring disclosures for election-related advertising. At the time, Facebook said that the program would be fully active by summer 2018, and Facebook has begun to roll out aspects of the program this month, including a training module and FAQ for […]
The seriousness of efforts to prevent money laundering has been emphasised by U.S. Bancorp’s $613 million settlement with the Treasury Department’s Office of the Comptroller of the Currency and the Federal Reserve, for inadequate AML controls. U.S. Bancorp failed to detect many suspicious transactions and later sought to conceal its mistakes from regulators. Banks and […]
On April 18, 2018, Governor Andrew Cuomo signed the New York Democracy Protection Act—which expands the disclosure obligations for online political advertising in the State of New York and requires television, satellite, cable, radio stations, and providers, as well as online platforms—to verify advertiser registration with the New York State Board of Elections and, in […]
By Kevin C. Maclay, Todd E. Phillips, and Caroline E. Parke Recent caselaw demonstrates that there is a current judicial disagreement over whether the Bankruptcy Code will permit a cramdown in a jointly-administered bankruptcy case when a consenting class exists for only one of the debtors. This implicates the important issue of de facto substantive […]
Today’s companies face a tremendous amount of pressure to win the best deals and contracts. In some cases, employees feel compelled to offer or accept bribes to clinch a business agreement. And in some countries, bribery is widely considered part of the cost of doing business. But such behavior is unethical, and in some cases, can […]
Is your business entering into a contract with a foreign entity? If so, you should be aware of certain legal terms that may be included — or are necessary to have — in the contract. These terms are important so you will not have difficulty pursuing or defending against potential claims with foreign entities. Contracts are […]
March 29, 2018, 1:00 PM – 2:30 PM EDT Panelist: Jeffrey A. Liesemer Program: Chapter 15 and Cross-Border Bankruptcies: Representing Foreign and U.S. Debtors and Creditors Event Sponsor: Strafford Publications Description Cross-border insolvencies are increasingly commonplace in today’s global economy. Chapter 15 respects the differences in insolvency laws of each jurisdiction while giving […]
Todd E. Phillips, Kevin C. Maclay, and Jeanna R. Koski On March 5, 2018, the Supreme Court issued a unanimous decision in U.S. Bank National Ass’n ex rel. CWCapital Asset Management LLC v. Village at Lakeridge, LLC, holding that bankruptcy court determinations regarding whether transactions are at arms-length are predominantly factual in nature, and thus […]
The Bankruptcy Code provides bankruptcy trustees, debtors, and creditor committees with “avoidance powers” that allow them to set aside and recover certain transfers that a debtor made before filing for bankruptcy.[1] These avoidance powers are, however, limited by a number of exceptions enumerated in the Bankruptcy Code, including the securities safe harbor at § 546(e). […]