Fall 2014: VOL 17, NO. 4

NASAA Adopts Multiunit Commentary

Features

NASAA Adopts Multiunit Commentary

On September 14, 2014, the North American Securities Administrators Association formally adopted a Multi-Unit Commentary that provides guidance on how multi-unit franchise arrangements are to be disclosed. Existing franchisors with fiscal years ending on December 31, 2014, must comply with the new guidelines with their next franchise renewal. For new franchisors, the Commentary will not be effective until mid-March 2015, but practitioners should expect regulators to rely on the Commentary immediately as they review new filings. The full text of the Multi-Unit Commentary appears in the online version of THE FRANCHISE LAWYER. Read more . . .

The editors of THE FRANCHISE LAWYER recently asked corporate counsel from a variety of franchise systems to tell us their favorite and not-so-favorite things about attending the annual meeting of the Forum on Franchising. Read more . . .

Two years ago, under Joe Fittante’s leadership and with the support of the Forum’s Past Chairs, the Governing Committee prepared a five-year strategic investment plan designed to ensure that the Forum continues to uphold its mission and goals while using its resources to benefit its members. I am updating our progress in this column. Read more . . .

In this issue, “hot off the presses,” THE FRANCHISE LAWYER brings you a summary of the Multi-Unit Commentary formally adopted by the North American Securities Administrators Association on September 16, giving guidance on how area development, sub-franchise, and area representative franchise arrangements are to be disclosed. On the litigation front, you will read about the California Supreme Court’s rejection of joint employer liability for franchisor Domino’s Pizza in a closely watched sexual harassment case. An article on a case tried this summer involving TGI Friday’s franchises at the Dallas / Fort Worth Airport illustrates the unique challenges posed by operating in non-traditional venues. Read more . . .

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