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Living in the Shadow of National Survival Game
On Nov. 14, 1988, the Honorable Gerald E. Delaney of the N.Y. Supreme Court, Westchester County, released a decision that limited the utility of the New York Franchise Law's isolated sales exemption. His decision in The National Survival Game of New York, Inc. v. NSG of LI Corp. (200 N.Y.L.J. No. 93, p. 27; CCH Business Franchise Guide ' 9294, at 19,622) remains the law in New York. But did Justice Delaney get it right?
Franchise sales in the United States are regulated by both federal and state law. The federal FTC Franchise Rule requires franchisors to provide prospective franchisees with a copy of a disclosure document before taking any money or signing any agreement. Fifteen states also regulate the sale of franchises, and some of these states have both a registration requirement and their own disclosure document requirement. New York is one of these states. But the franchise statute in New York, as well as Indiana, Minnesota, and Washington, provides an exception for isolated franchise sales.
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.