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Compliance Assessments
In the brave new world following the passage of the Sarbanes-Oxley Act of 2002 (SOX) ( Pub. L. 107-204 (2002), 116 Stat. 745), companies are struggling to meet the challenge of developing effective compliance programs. Many of these companies are diligently working with in-house counsel, external counsel, and internal audit and compliance departments to develop compliance programs that demonstrate a strengthened commitment to implementing best business practices, in order to realize the corporate “culture of compliance” contemplated by the Federal Sentencing Guidelines. Focusing on compliance not only meets good corporate governance practices and satisfies other corporate housekeeping needs, but also helps management prove to itself and its board of directors that the management team really does know what is going on within the company. In addition, proactive directors are using compliance assessments to demonstrate that they have satisfied their obligations as directors – under the Sentencing Guidelines and under developing standards of due care. In each case, the challenge is how to develop and implement an effective compliance and ethics program.
What Is Motivating the Drive for New Compliance Assessments?
Converging demands from several sources have made it urgent to develop better compliance assessment techniques than those that have been used in the past. A first step for all companies is to assess the effectiveness of the procedures that are currently in place, but current assessments must focus on current requirements.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?