BLT: June 2017


Feature Articles

Business & Corporate

Operation Digital Shield: Cybersecurity Regulations and Best Practices for Investment Advisers

As part of a continuing trend over the past few years, investment adviser cybersecurity safeguards are among the SEC and FINRA’s examination priorities for 2017. The past 12 months have also seen important state-level milestones for cybersecurity generally, with New York’s recently enacted cybersecurity regulations. This article provides guidance on cybersecurity requirements of investments advisers under the Investment Advisers Act and certain state regulations, and recommends “best practices” for such advisers to minimize the risk of cyber attack.

Business & Corporate

Charities, Advocacy, and Tax Law during a Time of Political Change

Charities often find themselves more engaged in advocacy activities during periods of significant political shifts. As a result, it is more important than ever that advisors to nonprofits understand the range of advocacy-related activities organizations can conduct, and the considerations organizations must take into account when conducting those activities. This article provides an overview of the most common advocacy activities charities conduct, and the issues with those activities that could endanger an organization’s federal tax-exempt status.

Business & Corporate

When Are We Going to Talk About Money? A Nonprofit M&A Primer for the Business Attorney

This article provides a primer for business lawyers working with nonprofit organizations, in a volunteer or other capacity, who are considering collaborating or combining with other nonprofit or for-profit organizations. Authors Bishop and Amundsen identify key legal and business concerns and traps for the lawyer who does not regularly work in the nonprofit sector.


Business & Corporate

DELAWARE INSIDER: Recent Cases Continue Delaware Trend Toward Reliance on Deal Price in Appraisal Litigation

Appraisal litigation is increasingly one of the primary post-closing threats facing acquirers of Delaware corporations. As a result, corporate practitioners have become keenly focused on appraisal decisions from the Delaware courts, particularly those involving the courts’ consideration of the deal price as potential evidence of fair value. Two recent decisions of the Court of Chancery — In re Appraisal of PetSmart, Inc. and In re Appraisal of SWS Group, Inc. — address this very issue and will add to the growing number of cases providing guidance regarding when deal price will be used as a reliable indicator of fair value.

Business & Corporate

MEMBER SPOTLIGHT: An Interview with Donald Maurice

As a teen, Donald Maurice helped with his family’s construction and land development company. Out in the hot sun, he’d spend hours pounding nails, sawing boards, as part of a team building houses. It was the perfect beginning for his legal career, in which he began as a land use attorney. But this was the mid-1980s, and the savings and loan crisis quickly transformed him into a financial services attorney. When that crisis resolved, his career continued to evolve in this practice area. Now, he helps manage a 30 plus attorney law firm, Maurice Wutscher, with offices in 16 states. He’s a regular contributor to his firm’s blog, hosts webinars, and gives speeches throughout the country on consumer and commercial finance laws.