Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
The Fork in the Road: The SEC and Preemption
Since 2003, I have been predicting a test case/showdown between lawyers who follow the dictates of the states in which they are licensed to practice law versus the conflicting dictates of the rules and regulations promulgated by the U.S. Securities and Exchange Commission (SEC) after the Sarbanes-Oxley Act of 2002 went into effect. See, e.g., C.E. Stewart, “Sarbanes-Oxley: Panacea or Quagmire for Securities Lawyers?” N.Y.L.J. (March 21, 2003); C.E. Stewart, “This Is a Fine Mess You've Gotten Me Into: The Revolution in the Legal Profession,” NY Business L.J. (Summer 2006); C.E. Stewart, “The Pit, the Pendulum, and the Legal Profession: Where Do We Stand After Five Years of Sarbanes-Oxley?” 40 Sec. Reg. & L. Rep. (Feb. 18, 2008); C.E. Stewart, “New York, “New Ethics Rules: What You Don't Know Can Hurt You!” NY Business L.J. (Fall 2009); C.E. Stewart, “'Here's Johnny!': Carnacing the Future of the SEC's Preemption Overreach,” 46 Sec. Reg. & L. Rep. (April 28, 2014); C.E. Stewart, “Navigating State-Based Ethics Rules and Sarbanes-Oxley Requirements,” N.Y.L.J. (Sept. 21, 2015).
And while I thought I knew how such a test case/showdown would (should) end up, a recent judicial development has shaken my certitude (but only a little, because — as we will see — the ruling is wrong).
The SEC vs. the States
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
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.
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.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?