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The Registration Experience: Six Easy Lessons from the Converted
If you have registered a few dozen Uniform Franchise Offering Circulars (“UFOCs”) and spent the better part of 2008 converting your current stable to the Amended Rule's disclosure format, you can probably relate to the throbbing headache we experienced during this spring's annual filing season when we registered our clients' freshly converted franchise disclosure documents (“FDDs”) with state franchise agencies. Before the annual spring filing crunch, we had found clear sailing in registering FDDs early.
As it turns out, we were not smarter earlier in the process; state examiners had not received training in the details of the Amended Rule until March, after which they turned up the heat. Part of the challenge this spring was in finding state examiners preoccupied with their own learning curve, mastering the FDDs' subtleties and devising state registration policies along the way. We would like to share the top six lessons we learned from this spring's inaugural filing season under the Amended Rule.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.