Headlines from the final months of 2017 included the signing of a new executive order with global anti-corruption implications; new guidance on the Trump Administration’s approach to Russia sanctions under CAATSA; tightening...more
1/9/2018
/ Counter-Terrorist ,
Cuba ,
Drug Trafficking ,
Economic Sanctions ,
Executive Orders ,
Iran Sanctions ,
Magnitsky Act ,
North Korea ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sudan ,
Trump Administration
The third quarter was headlined by the imposition of broad new US legislative sanctions against Russia, Iran, and North Korea. The Trump Administration also acted unilaterally to significantly expand sanctions against both...more
The New York State Department of Financial Services (“NYDFS”) enacted final cybersecurity regulations (“Regulations”) for NYDFS regulated entities that went into effect on March 1, 2017. The first deadline for compliance...more
The first six months of the Trump Administration saw several notable developments for US sanctions, with particular implications for Russia and Iran. The Administration also declared a shift in US policy toward Cuba. ...more
7/6/2017
/ Counter-Terrorist ,
Cuba ,
Drug Trafficking ,
Economic Sanctions ,
Enforcement Actions ,
Exxon Mobil ,
Foreign Policy ,
Iran Sanctions ,
North Korea ,
Office of Foreign Assets Control (OFAC) ,
Proposed Legislation ,
Russia ,
Trump Administration ,
Ukraine
On Monday, June 19, 2017, the Supreme Court clarified the limits of specific personal jurisdiction in state courts, holding that a connection between a defendant’s contacts with the forum and the claims at issue remains...more
Yesterday, the Supreme Court held in an 8–0 decision that the disparagement clause in the Trademark statute—which prohibits the registration of trademarks that may “disparage . . . or bring . . . into contemp[t] or disrepute”...more
6/21/2017
/ CAFC ,
Disparagement ,
Due Process ,
First Amendment ,
Free Speech ,
Matal v Tam ,
Redskins ,
SCOTUS ,
The Slants ,
Trademark Cancellation ,
Trademark Registration ,
USPTO
On Monday, June 5, 2017, a unanimous Supreme Court held that the ability of the Securities and Exchange Commission (“SEC”) to seek disgorgement in connection with a violation of federal securities law is subject to a...more
The WannaCry ransomware attack was first reported on Friday, May 12. Within hours, it shut down thousands of computer systems, locking users out of their own files. The latest report estimates over 300,000 computers in 150...more
5/26/2017
/ Cyber Attacks ,
Cybersecurity ,
EU ,
General Data Protection Regulation (GDPR) ,
Hackers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare Facilities ,
Incident Response Plans ,
Microsoft ,
Popular ,
Ransomware ,
Risk Management ,
Security and Privacy Controls
On March 27, 2017, the United States Supreme Court granted a petition for a writ of certiorari to resolve a circuit split on whether corporate issuers’ disclosure obligation under Item 303 of SEC Regulation S-K can be an...more
On March 22, 2017, the Supreme Court decided that federal copyright protection applies to cheerleading-apparel designs. The decision, which has far-reaching implications for the fashion and sports industries, sets a new and...more
3/27/2017
/ Cheerleaders ,
Copyright Infringement ,
Fashion Design ,
Fashion Industry ,
SCOTUS ,
Separability ,
Sports Apparel ,
Star Athletica v Varsity Brands ,
The Copyright Act ,
Uniforms ,
Utilitarian Function
On November 8, 2016, Donald John Trump was elected the 45th President of the United States. Following fiery criticism of the Obama Administration’s sanctions policies, including the Iran deal, the lifting of substantial parts...more
On December 15, 2016, the Office of Foreign Assets Control revised its Frequently Asked Questions guidance that concerns the re-imposition of sanctions in the event of a sanctions snapback under the Joint Comprehensive Plan...more
Yesterday, the United States Supreme Court issued a unanimous, but narrow, ruling in Salman v. United States, regarding criminal tipper/tippee liability for insider trading, which the Supreme Court had not significantly...more
Yesterday’s election has significant implications for international sanctions, particularly with respect to Iran, Cuba, and Russia. Although we do not want to be unduly alarmist, President-elect Trump’s statements on the...more
In so-called “price maintenance” securities fraud cases, plaintiffs argue that a misrepresentation that does not cause a stock’s price to rise can nevertheless be actionable under Section 10(b) of the Securities Exchange of...more
On August 9, 2016, a three-judge panel of the United States Court of Appeals for the District of Columbia Circuit issued Lucia v. SEC, a significant decision that holds that the Securities and Exchange Commission’s (“SEC” or...more
The Securities and Exchange Commission (the SEC or the Commission) brought over 400 enforcement actions in the first half of 2016 and is on pace to surpass its record of 807 enforcements actions in a single fiscal year, which...more
7/20/2016
/ Administrative Proceedings ,
Books & Records ,
Broker-Dealer ,
Chief Compliance Officers ,
Cooperation ,
Corporate Counsel ,
Cybersecurity ,
Disgorgement ,
Enforcement Actions ,
Enforcement Statistics ,
Foreign Corrupt Practices Act (FCPA) ,
Insider Trading ,
Investment Adviser ,
Municipal Bonds ,
Securities and Exchange Commission (SEC) ,
Whistleblowers
The tolling rule established by the Supreme Court in American Pipe & Construction Co. v. Utah generally provides that the commencement of a class action in federal court suspends the applicable statute of limitations for all...more
On July 14, 2016, the Second Circuit released its decision in Microsoft Corp. v. United States, No. 14-2985, slip op. (2d Cir. July 14, 2016). The Second Circuit rejected the Government’s efforts to require Microsoft to turn...more
7/20/2016
/ Data Centers ,
ECPA ,
Electronic Communications ,
Electronically Stored Information ,
EU-US Privacy Shield ,
International Data Transfers ,
Ireland ,
Microsoft ,
Popular ,
Public Policy ,
Search Warrant ,
Stored Communications Act ,
US-EU Safe Harbor Framework
On June 30, 2016, the New York State Department of Financial Services (“NYSDFS”) adopted a final regulation outlining the attributes of a risk-based transaction monitoring and filtering program that certain New York...more
This update provides a snapshot of the Senate’s vote on expansion of the FBI’s National Security Letter authority and the House’s upcoming vote on the Financial Services and General Government appropriations bill as it...more
On May 26, 2016, a three-judge panel of the United States Court of Appeals for the Eleventh Circuit issued SEC v. Graham, a significant decision that, at least in the Eleventh Circuit, limits the ability of the Securities and...more
The Financial Institutions Reform, Recovery, and Enforcement Act (“FIRREA”) includes a so-called Extender Statute prescribing the limitations period for actions brought by the Federal Deposit Insurance Corporation (“FDIC”) as...more
Twenty-five years ago, in Ceres Partners, the Second Circuit held that the implied private right of action under Section 14 of the Securities and Exchange Act of 1934 (“Exchange Act”) was subject to a three-year repose...more
On April 5, 2016, the United States Department of Justice, Criminal Division, Fraud Section launched a one-year Pilot Program that invites companies to self-report potential violations of the Foreign Corrupt Practices Act...more