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NASAA Proposes Four Exemptions for State Registrations
The North American Securities Administrators Association (“NASAA”) has proposed four exemptions to state registration and disclosure requirements, representing a welcome effort to standardize exemptions at the state level. The proposed exemptions were circulated for public review on July 1, and the comment period ended on Aug. 1. The proposal can be found at www.nasaa.org/issues___answers/regulatory_activity/14627.cfm.
Fifteen states have some form of registration requirement beyond the federal disclosure requirements overseen by the Federal Trade Commission (“FTC”). After the proposed state exemption rules are finalized, each state would decide whether or not to adopt the rules, or to modify the exemptions developed by NASAA.
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.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.