Compliance

Expert Analysis

• Changes Bring Structure To SEC Settlement Waiver Process

  

  The U.S. Securities and Exchange Commission's decision to allow firms to make settlements with the regulator contingent on requests to waive disqualifications under the federal securities laws gives firms more clarity around the collateral consequences of offers of settlement, say attorneys at Sidley Austin.

• What EPA Plan To Count Emission Decreases Means For Cos.

  

  The U.S. Environmental Protection Agency recently proposed a rule explicitly allowing consideration of emissions decreases from a project in determining whether the project causes a significant emissions increase from an existing source. This makes it more likely that state regulators will follow the same approach, says Andrew Sawula of Schiff Hardin.

• Calif. Prop C Taxpayers Should File Protective Refund Claims

  

  As the two San Francisco Proposition C cases wend their way through the California appellate court system, taxpayers should utilize the city’s refund procedures to delay having to bring a protective refund action in Superior Court, say Richard Nielsen and Robert Merten at Pillsbury.

• CFTC's Silence Stings In Wheat Futures Manipulation Case

  

  The U.S. Commodity Futures Trading Commission v. Kraft and Mondelez case was expected to clarify new standards for prosecuting market manipulation, but instead ended in a settlement that failed to provide any guidance or context, and even barred the CFTC from publicly commenting on the case, says Braden Perry at Kennyhertz Perry.

• Coast Guard Cybersecurity Guidance Puts Shippers On Notice

  

  Recent cyberattacks have spurred the U.S. Coast Guard to publish a marine safety information bulletin and a marine safety alert addressing vulnerabilities of shipboard computer systems, potentially triggering significant legal obligations for owners and operators, say attorneys at Husch Blackwell.

• Anti-Discrimination Essentials From New OFCCP Guidance

  

  Recent guidance from the Office of Federal Contract Compliance Programs contains key contractor compliance points regarding practical significance in equal employment opportunity analysis, validation of employee selection procedures, and pay analysis groupings, say Lisa Harpe and Sarah Layman at DCI Consulting.

• A Robust Federal Consumer Protection Law May Be Ahead

  

  The U.S. Department of Justice, the Federal Trade Commission and the Consumer Financial Protection Bureau all recently announced pushes into data privacy and security through consumer protection enforcement, suggesting that they could be developing the foundation for a new U.S. federal privacy statute, say Brad Elbein and Linda Priebe of Culhane Meadows.

• Breaking Down The SEC's Regulation Best Interest

  Excerpt from Lexis Practice Advisor

  

  The U.S. Securities and Exchange Commission's recently adopted Regulation Best Interest represents a significant rulemaking for the retail financial services industry that will require significant time and resources to make the necessary operational and compliance changes, say Jay Baris and Russell Sacks at Shearman & Sterling.

• Issues To Avoid In Fintech, Consumer Financial Services M&A

  

  Fintech-specific considerations and persistent regulatory scrutiny highlight the need to understand the risks involved — and necessary due diligence — before acquiring a consumer financial products and services business, says Jonathan Pompan at Venable.

• Questions After IRS Guidance On Uncashed 401(k) Checks

  

  A recent revenue ruling provided helpful guidance on the tax treatment of uncashed 401(k) distribution checks, but did not clarify how plan administrators should handle the nettlesome administrative issues arising when uncashed required minimum distribution checks involve missing plan participants, says Daniel Morgan at Blank Rome.

• What 2 Recent OFAC Cases Say About Compliance Priorities

  

  Findings of violation issued by the Office of Foreign Assets Control earlier this month to U.S. companies DNI Express Shipping and Southern Cross Aviation are illustrative of the continued focus, by OFAC and other agencies, on completeness and accuracy in both responsive and voluntary disclosures, say attorneys at Akin Gump.

• Crisis Messaging To Protect Law Firm Brand And Bottom Line

  

  When crises occur, such as data security incidents or gender bias suits, a well-prepared law firm has a thoroughly tested communications plan at the ready, which ensures the firm is the most proactive news source, prevents the crisis from escalating and notifies stakeholders about mitigation efforts, says Zach Olsen at Infinite Global.

• New Compliance Steps For Filing Drug Co. Settlements

  

  Starting this summer, settlements between innovators and generics submitted to the Federal Trade Commission and U.S. Department of Justice under the Medicare Prescription Drug, Improvement and Modernization Act must be filed online, and other new filing requirements are quite broad, say Melanie Rupert and Alexander Plushanski of Paul Hastings.

• The Escalating Sanctions Against Venezuela, Russia And Iran

  

  The past few weeks saw a flurry of activity demonstrating that imposition and enforcement of economic sanctions against Venezuela, Russia and Iran — and by extension China — continues to be a key driver for the Trump administration in confronting foreign policy challenges, say attorneys at Kirkland.

• Unpacking The OFCCP's Proposed Audit Compliance Letters

  

  If implemented, the new compliance review scheduling letters proposed by the Office of Federal Contract Compliance Programs will demand more detailed data at the commencement of an audit than ever sought before, say attorneys at Jackson Lewis.