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Is Your Company in Compliance with the Anti-Terrorism Laws?
The fourth anniversary of the tragedy in New York has come and gone, and our country remains on alert in an effort to prevent another terrorist attack. While we see frequent warnings published in the news and through industry groups, the heightened awareness those warnings generate does not put our companies in compliance with the laws requiring our participation in the fight against terrorism. This article examines the anti-terrorism laws that affect our industry and outlines best practices for compliance with those laws. It also provides information on enforcement activities that have occurred. It provides a basis for evaluating whether or not your company is in compliance with the anti-terrorism laws.
The Anti-Terrorism Laws
To understand what compliance activities are required, a short primer on the three laws and the regulations thereunder, which make up the anti-terrorism laws, is necessary. The three relevant laws we will discuss are: Executive Order 13224 and the related regulations of the Treasury Department's Office of Foreign Assets Control (“OFAC”), the Money Laundering Control Act and the USA Patriot Act/Bank Secrecy Act. In combination, these laws form the foundation of the government's efforts to cut off funding for possible terrorist activities in the United States.
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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.
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.
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Legal Possession: What Does It Mean?
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