Sky Blog
For nearly 15 years, the United States has had the worldwide corruption enforcement stage to itself, reaping billions of dollars in fines and settlement payments from companies that have acknowledged engaging in bribery in foreign countries. That monopoly, however, may …
The following post comes to us from Brent J. Horton, Associate Professor at Fordham University’s Gabelli School of Business. It is based on his recent paper entitled “For the Protection of Investors and the Public: Why Fannie Mae’s Mortgage-Backed …
The following post comes to us from David M. Driesen, University Professor at the Syracuse University College of Law. It is based on his article, “Legal Theory Lessons from the Financial Crisis,” which is forthcoming in the Journal …
The Internal Revenue Service has issued Revenue Ruling 2014-18[1] (the “Ruling”) to clarify that stock options and stock-settled stock appreciation rights (“SARs”), properly designed, can be used as a form of compensation to managers of hedge funds and other “nonqualified …
The following remarks were delivered by Commissioner Kara M. Stein of the U.S. Securities and Exchange Commission before the Peterson Institute for International Economics on June 12, 2014. A copy of the speech is also available here.
Thank you, …
The following post comes to us from Henry T. C. Hu, Professor at the University of Texas School of Law. It is based on his recent paper, “Disclosure Universes and Modes of Information: Banks, Innovation, and Divergent Regulatory Quests,” which …
The following post comes to us from Carlos Berdejo, Associate Professor at Loyola Law School. It is based on his recent paper entitled “Going Public After the JOBS Act,” which is forthcoming in the Ohio State Law Journal and is …
The following post comes to us from James F. Reda, Managing Director, Kimberly A. Glass, Principal, and David M. Schmidt, Senior Consultant, all in the HR & Compensation Consulting Practice at Arthur J. Gallagher & Co. It is based on …
The need for risk and compliance officers is skyrocketing as lenders and financial market participants remain under strict scrutiny in the wake of the 2008 financial crisis. J. P. Morgan Chase & Co. recently announced plans to add 13,000 officers …
The following post comes to us from Eilis Ferran, Professor of Company and Securities Law, University of Cambridge Faculty of Law, and is based on her recent paper, “European Banking Union: Imperfect, But It Can Work,” which is available here…
The following post comes to us from Dan Ryan, Financial Services Advisory Leader at PricewaterhouseCoopers LLP, and is based on a PwC publication.
The US Liquidity Coverage Ratio (“LCR”) debuted in October 2013 when the federal banking agencies – Federal …
In a decision on March 7, 2014, the Delaware Court of Chancery found RBC Capital Markets, LLC liable for aiding and abetting breaches of fiduciary duty by the Board of Directors of Rural/Metro Corporation in connection with the sale of …
On April 8, 2014, the Securities and Exchange Commission (“SEC”) charged CVS Caremark Corp. (“CVS”) with violating the federal securities laws by failing to accurately disclose significant financial setbacks and overstating its financial performance through improper accounting.[1] CVS, which has …
The following post comes to us from Omri Ben-Shahar, Professor at the University of Chicago Law School and Carl E. Schneider, Professor at the University of Michigan Law School. It is based on their recent paper entitled “The Futility of …
The Single Resolution Mechanism (SRM) just enacted by the European Parliament will fail in its essential mission of managing the failure of a systemically important bank in a way that overcomes the fatal link between sovereigns and their banks. The …
The following post comes to us from Diane Lourdes Dick, Assistant Professor of Law at Seattle University School of Law, and is based on her recent article entitled “Bankruptcy’s Corporate Tax Loophole,” 82 Fordham Law Review 2273 (2014). A …
The following post comes to us from Dan Ryan, Financial Services Advisory Leader at PricewaterhouseCoopers LLP, and is based on a PwC publication.
On April 8, the US banking regulators finalized the Enhanced Supplementary Leverage Ratio (“ESLR”) and released a …
On March 21, 2014, the Division of Swap Dealer and Intermediary Oversight (“Division”) of the CFTC issued a no-action relief letter (the “2014 Letter”),1 to temporarily allow entities to deal in utility operations-related swaps, as defined in the 2014 …
The following post comes to us from John F. Coyle, Assistant Professor of Law at the University of North Carolina at Chapel Hill, and Joseph M. Green, Associate at Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP in New York, …
In March 2014, the Financial Industry Regulatory Authority (FINRA) fined a broker-dealer $950,000 for supervisory deficiencies related to its failure to adequately supervise the sale of “alternative investments.” These investments include a laundry list of products that have been at …