August 20, 2010

Inside Business Law

Common Approaches to Compliance with Applicable Law and Improvements to the Existing Regulatory Framework

If you are looking for a good primer on derivatives and the existing regulatory landscape, or if you are interested in thoughtful and detailed analysis and recommendations regarding future regulation, the July 2010 Report of the on Investment Company Use of Derivatives and Leverage Task Force (of the Federal Regulation of Securities Committee) is perfect for you. This useful report will be a helpful resource for the coming months, when new rules are under consideration in the wake of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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Survey of Significant Legal Developments in the Investment Management Field

In July, the Investment Companies and Investment Advisers Subcommittee (of the Federal Regulation of Securities Committee released its second "Investment Management Legal Review," which covers the first half of 2010. This excellent resource is particularly useful as a reference guide and comprehensive update of the most important developments in investment management, including rule-makings, SEC no-action letters, SEC exemptive orders, case law, enforcement actions, regulatory guidance from FINRA and the CFTC, and legislation. With the recent adoption of the Dodd-Frank Wall Street Reform and Consumer Protection Act, stay tuned for the Subcommittee's next edition of its semiannual Legal Review as the regulatory landscape changes further.

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M&A Highlights: FCPA Violations by an Acquisition Target; Elimination of the Canadian Withholding Tax

In case you missed it, the Mergers and Acquisition's Committee Spring newsletter, Deal Points, highlights two articles that would definitely be of interest to members of other committees, including, among others, Federal Regulation of Securities, White-Collar Crime, and Taxation. Specifically, Deal Points presents "FCPA Lesson: Anatomy of an Acquisition Gone Awry," which addresses the importance of pre-acquisition Foreign Corrupt Practices Act due diligence through a case study, but also offers a concise overview of the FCPA and reviews certain FCPA case law; and "The Elimination of Canadian Withholding Tax Impediments to M&A Transactions," which addresses a recently passed simplification of Canadian tax law that eliminates the requirement for U.S. investors to obtain clearance certificates and to pay Canadian withholding taxes on the sale of shares of a private Canadian corporation in many circumstances--rules that had historically resulted in complex exchangeable share structures and other arrangements.

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Environmental Law Webinars and Teleconferences for Both Young and Experienced Lawyers

In light of the Gulf Coast oil spill, lawyers wishing to develop some basic knowledge about environmental law issues or brush up on those issues may wish to tune into various webinars sponsored by the Environmental, Energy and Natural Resources Law Committee. Webinars that have already taken place are archived on the Committee's website.

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Potpourri of Information from the Young Lawyer Committee

In its Spring newsletter, the Young Lawyer Committee featured articles on corporate bankruptcy, issues related to asset and stock sales, data security breaches, and advice for new attorneys. Check out these accessible articles showing some of what the Section's young lawyers are working on.