Asset Management

Expert Analysis

• Q&A

  A Chat With Gilead Sciences Legal Ops Leader Gary Tully

  

  In this monthly series, legal recruiting experts from Major Lindsey & Africa interview legal industry leaders about the increasingly competitive business environment. Here, Rod Osborne talks with Gary Tully, head of legal operations at Gilead Sciences.

• DC Circ.'s Chance To Clarify 'Should Have Known' Liability

  

  With its upcoming decision in Thaddeus North v. U.S. Securities and Exchange Commission, the D.C. Circuit should articulate a clear legal standard for when a compliance officer “should have known” about reportable events. Without such guidance, compliance officers cannot do their jobs without fearing unintended consequences, say Brian Rubin and Michelle McIntyre of Eversheds Sutherland.

• Opinion

  FINRA's Presumptive Bad Actor Rule Seems Like Overkill

  

  The Financial Industry Regulatory Authority's proposal to establish a system of preemptive confiscatory fines based on predictive analytics prompts many questions about whether such a regime would be necessary or fair, says Thomas Potter of Burr & Forman.

• FBAR Taxpayers May Face Steeper Failure-To-File Penalties

  

  U.S. v. Boyd, a California federal court case decided last month, suggests that the IRS could be transitioning to a more aggressive penalty approach for foreign bank and financial account reporting violations — meaning more risk for U.S. taxpayers with multiple foreign financial accounts, say Friedemann Thomma and Rebecca Chappell of Venable.

• Series

  Why I Became A Lawyer: Completing The Journey Home

  

  My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.

• Examining The Evidence On VIX Manipulation

  

  An ongoing multidistrict litigation alleges manipulation of the formula used to determine the settlement price for derivatives based on the Chicago Board Options Exchange’s volatility index. But a review of trading data reveals how reasons other than manipulation can explain trading activity on any given day, say consultants with Analysis Group.

• DC Circ. Gives New Meaning To 'Willful' In Securities Statutes

  

  The D.C. Circuit’s recent decision in The Robare Group v. U.S. Securities and Exchange Commission drives home the idea that long-accepted interpretations of federal securities laws may be upended when appellate courts take a fresh look at the statutory language, say attorneys at Debevoise & Plimpton.

• Series

  Judging A Book: Wood Reviews 'The Making Of A Justice'

  

  Retired U.S. Supreme Court Justice John Paul Stevens' new book, "The Making of a Justice," is required reading for anyone interested in 20th and 21st century America, says Seventh Circuit Chief Judge Diane Wood.

• Where The Post-Libor Litigation Tsunami Will Hit

  

  The permanent cessation of the Libor rate in 2021 will likely trigger a flood of litigation over many existing contracts that lack effective replacements. Marc Gottridge of Hogan Lovells identifies the types of products that may be most susceptible to disputes.

• What Gov't Outsourcing Ruling Means For Investigations

  

  A New York federal court's recent decision in U.S. v. Connolly is a warning to prosecutors against outsourcing their investigations to companies and outside counsel, but it should also be used by companies to determine the framework for internal investigations, says Rachel Maimin of Lowenstein Sandler.