Legal Alerts

  1. Second Circuit Defines ‘Customer’ Under FINRA Arbitration Rules

    Aug. 15, 2014 The U.S. Court of Appeals for the Second Circuit has provided a measure of clarity in limiting the definition of a “customer” who may bring a FINRA arbitration under FINRA Rule 12200. The decision is significant for those member firms that provide a broad array of financial servi... more >
  2. Ninth Circuit Questions De Minimis CERCLA Settlement and Deference to State

    Aug. 13, 2014 The Ninth Circuit’s recent decision in Arizona v. Tucson rebuked a district court’s rubber-stamp approval of several consent decrees under the Comprehensive Environmental Response Compensation and Liability Act (CERCLA). The district court failed to adequately scrutinize the decr... more >
  3. Anti-Money Laundering Customer Due Diligence

    Aug. 8, 2014 On July 30, 2014, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued proposed regulations seeking to clarify and strengthen the customer due diligence obligations of certain types of financial institutions aimed at preventing money launderi... more >
  4. Delay of the Effective Date to the Amendments to the Article 63 Exemption

    Aug. 5, 2014 This Client Alert is an update to our client dated May 20, 2014 with respect to the proposed amendments (“Proposed Amendments”) to the regulations with respect to the “Special Business Activities for Qualified Institutional Investors” (the “Article 63 Exemption”) as set forth und... more >
  5. Delaware Supreme Court Allows Plaintiff Shareholders to ‘Invade’ Corporation’s Attorney-Client Privilege for Good Cause

    Aug. 1, 2014 Over forty years ago, in Garner v. Wofinbarger, 430 F.2d 1039 (5th Cir. 1970), the Fifth Circuit held that, with a showing of good cause, a shareholder investigating potential fiduciary breaches could overcome the attorney-client privilege for internal corporate documents. In Del... more >
  6. MiFID II – New Corporate Governance Requirements for EU-Regulated Financial Services Firms

    July 31, 2014 This is the second of our series of alerts on MiFID II and MiFIR, the package of reforms and amendments to the Markets in Financial Instruments Directive. It is generally agreed that weaknesses in corporate governance in a number of financial institutions were a significant contr... more >
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