New York partner Mark K. Schonfeld and Dallas associate Akita St. Clair are the authors of "A Wider Scope of Primary Liability?" [PDF] published online by Law360 on January 7, 2009 at law360.com.
January 7, 2009
2008 – A Dynamic Year in Corporate Deferred Prosecution AgreementsIn the post-Enron and WorldCom era, the U.S. Department of Justice ("DOJ") often uses corporate deferred prosecution agreements ("DPAs") to resolve federal criminal investigations.
January 6, 2009
The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.We are providing updates on key regulatory and legislative issues, as well as information on legal issues that we believe could prove useful as firms and other entities navigate these challenging times.This update focuses on the Federal Reserve Board's announcement that it expects to begin purchasing mortgage-backed securities (MBS) in early January 2009.On November 25, 2008, the Federal Reserve announced three major new initiatives as follows: The Term Asset-Backed Securities Loan Facility (TALF) -- under which the Federal Reserve Bank of New York, with Treasury credit protection in
January 5, 2009
The Status of Forces Agreement (SOFA) between the United-States and Iraq was scheduled to take effect on January 1, 2009. Since the SOFA agreement became final on November 28, 2008, contractors operating in Iraq have had numerous questions on how the SOFA will be implemented and what effect it will have on their business operations. One of the primary concerns for U.S.
January 5, 2009
By any measure, 2008 was a monster year in Foreign Corrupt Practices Act ("FCPA") enforcement. With thirty-three enforcement actions between the Department of Justice ("DOJ") and Securities and Exchange Commission ("SEC"), the statute's dual enforcers, 2008 was the second busiest numerical year on the books, trailing only 2007. But beyond the numbers (after all, with the massive Siemens resolution, 2008 dwarfs all other years combined in fines and disgorgement), 2008 saw the FCPA's enforcement regime mature like never before. There were no unimportant FCPA enforcement actions this year. Whether the trend was increasingly aggressive enforcement against individuals, ramped up international coordination, the joining of FCPA prosecutions wi
January 5, 2009
Los Angeles partner Jeffrey D. Dintzer and associate Margaret A. Farrand are the authors of "Accounting for Climate Impacts Under the California Environmental Quality Act" [PDF] published in BNA Inc.'s Daily Environmental Report.
January 5, 2009
Dallas associate Lawrence VanDyke is the author of "You Do Have A Voice In The Speaker's Race" [PDF] published in print and online by the Austin-American Statesman on January 5, 2009.
January 5, 2009
Washington, D.C. partner Karen L. Manos is the author of "Complying With The New Mandatory Disclosure Rule" [PDF] published in the January 2009 issue of Thomson Reuters/West's Government Contract Costs, Pricing & Accounting Report.Reprinted with the permission of Thomson-Reuters/West.
January 1, 2009
Washington, D.C. associate Blair Silver is the author of "Controlling Patent Trolling with Civil RICO" [PDF] published in the January 1, 2009 edition of the Yale Journal of Law and Technology.
January 1, 2009
The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.
December 24, 2008
On December 9, 2008, as anticipated, the Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") issued the Bank Secrecy Act/Anti-Money Laundering Examination Manual for Money Services Businesses (the "Examination Manual" or "the Manual"). This 153-page document sets forth a road map for examinations by the Internal Revenue Service ("IRS"), to which FinCEN has delegated examination authority for Money Services Businesses ("MSBs") and other businesses that do not have a federal regulator but that have been designated as financial institutions under the Bank Secrecy Act and its implementing regulations (collectively, the "BSA"). The Manual is available from the FinCEN website, www.fincen.gov
December 23, 2008
In connection with regulatory reform legislation anticipated to be introduced in the 111th Congress, consideration will be given to enacting proposals to further legislate the swaps market and, in particular, credit default swaps ("CDS") and the over-the-counter ("OTC") derivatives market.
December 23, 2008
I. E-Proxy Update In 2007, the Securities and Exchange Commission (the "SEC") adopted rules providing for proxy materials (including the proxy statement, a proxy card, the "glossy" annual report and any other soliciting materials) to be made available to shareholders via a publicly accessible Internet website other than the SEC's EDGAR website (the "E-Proxy Rules").
December 19, 2008
On December 8, 2008, the U.S. Department of the Treasury published in the Federal Register a notice providing guidance on the newly implemented amendment to Section 721 of the Defense Production Act of 1950.
December 18, 2008
On November 26, the Orange County Superior Court ruled that Water Quality Standards for storm water promulgated by the Los Angeles Regional Water Quality Control Board ("Regional Board") in its Los Angeles Region Basin Plan were invalid under state law.
December 17, 2008
On December 17, 2008, the Securities and Exchange Commission adopted a rule that will require issuers to file a supplemental exhibit "tagging" their financial statements with an interactive data format known as XBRL (eXtensible Business Reporting Language).
December 17, 2008
The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.
December 16, 2008
We are closely tracking regulatory and legislative activity relating to the regulation of nanotechnology, which is an emerging technology that involves an increasing number of products and businesses.
December 9, 2008
On November 5, 2008, the Department of the Treasury, Office of Foreign Assets Control ("OFAC") issued guidance, Opening Securities and Futures Accounts from an OFAC Perspective, to make it clear that guidance or actions by its sister Treasury bureau, the Financial Crimes Enforcement Network ("FinCEN"), under the Bank Secrecy Act ("BSA") do not affect the responsibilities of the securities and futures industry to comply with the economic and trade sanctions administered and enforced by OFAC. This OFAC issuance follows the announcement by FinCEN on October 30, 2008, that FinCEN was withdrawing proposed rulemakings issued in 2002 and 2003 which would have required anti-money laundering ("AML") programs for unregistered investment companies, invest
December 9, 2008
On account of the financial market turmoil and current economic crisis, Congress and the new Administration will be introducing legislation next year to restructure the financial services industry and system and to further regulate the activities, products and services provided by financial services companies. It is anticipated that this legislation could impact all financial companies, including those in the banking, securities, insurance, investment company, private equity, lending, derivatives and commodities industries.
December 8, 2008