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Schiff Hardin LLP has been recognized on Forbes’ inaugural list of America’s Top Corporate Law Firms in 2019, and received a “most recommended for” designation in Corporate Governance law. Schiff was among 243 most-recommended corporate law firms on the list.
On July 1, 2015, the Securities and Exchange Commission (SEC) issued a proposed rule that implements the clawback provisions of the Dodd-Frank Act.
On October 5, the CFPB released its final rule to amend Regulations E and Z which extended the scope of its coverage – it applies to prepaid cards bought at your local convenience store as well as prepaid accounts that are used entirely online, such as digital wallet accounts.
Releases like the August 30, 2016 “Joint Fact Sheet on Foreign Correspondent Banking: Approach to BSA/AML and OFAC Sanctions Supervision and Enforcement” summarizing expectations and existing obligations in the area of correspondent banking tend to follow observations of non-compliance in the subject matter summarized.
In June 2016, several federal agencies published a proposed rule on incentive-based compensation arrangements, which implements an important section of the Dodd-Frank Act.
With the 2016 proxy season getting started, we would like to remind clients that Institutional Shareholder Services (ISS) and Glass Lewis have each made some revisions to their 2016 voting policies. If your proxy statement involves any of the following topics, you should review these updates.
Over the last few years, financial technology, commonly referred to as FinTech, has been used to describe a multitude of firms, activities, and capabilities for financial services.
The SEC has settled an enforcement action with a public company, finding that severance agreements containing a confidentiality provision and a waiver of the right to claim a whistleblower award violate the SEC rule which prohibits impeding whistleblower communications to the SEC.
FinCEN’s New Rules on Customer Due Diligence are not only significant in substance and scope, but will also require a substantial investment in time and money as covered financial institutions prepare to implement the new (fifth) pillar for an AML program in time for required compliance on May 11, 2018.
Schiff Hardin Energy & Environmental Law Adviser
On March 27, the U.S. Supreme Court granted a petition for certiorari to decide whether a public reporting company can be held liable for damages under Rule 10b-5 of the Securities Exchange Act of 1934 for failure to include a disclosure mandated by an SEC rule.
The Tax Cuts and Jobs Act (the “Act”) will dramatically change the tax treatment of income from many partnerships, limited liability companies, and S corporations.