On September 24, 2020, Commodity Futures Trading Commission (“CFTC”) Commissioner Dan Berkovitz discussed the agency’s Anti-Money Laundering (“AML”) enforcement program in detail, signaling the CFTC’s commitment to ensuring that financial institutions and other CFTC registrants comply with applicable AML regulations.
[1] Commissioner Berkovitz’s remarks accord with the priorities of several other regulators that have recently highlighted
Falling foul of notice provisions in sale and purchase agreements
In the recent case of Dodika Ltd & Ors v United Luck Group Holdings Ltd [2020] EWHC 2101, the High Court ruled that a buyer’s written notice of a claim under the tax covenant contained in a sale and purchase agreement (“SPA”) was inadequate as it
a Pandora’s Box of Risks (and Opportunities?)
In recent years, there has been a proliferation of merger control rules throughout the world as well as policy changes in the field. As shown by Amazon’s experience in its recent 16% minority shareholding acquisition of the online restaurant delivery operator Deliveroo, this has led to new risks
Recent reforms on foreign investments control in France have contributed to a substantial evolution of its regime and, in particular, to strengthening its implementation. While Decree No. 2018-1057 of November 29, 2018 initially eased the prior authorization procedure for investment by introducing a preliminary written request to the French Ministry of Economy and Finance (the “Ministry”)
As the global pandemic continues, medical supplies critical to the COVID-19 response have become increasingly scarce. In response to this crisis, on March 23, 2020, President Trump signed
Executive Order 13910 (the “Order”), aimed at preventing price gouging and the hoarding of medically necessary resources in the United States. The Order, issued pursuant to the
Defense
With much of the country shut down due to COVID-19, many U.S. companies are facing difficult questions when scheduling their annual shareholder meetings, including whether to delay or move such meetings or hold them virtually. In response to the uncertainty COVID-19 has injected during the busiest time for annual meetings, the Securities and Exchange Commission
On November 25, 2019, the Securities and Exchange Commission (the “SEC”) proposed new rules that would govern the use of derivatives by most types of registered investment companies. Re-proposed new rule 18f-4, an exemptive rule under the Investment Company Act of 1940, as amended (the “Investment Company Act”) (the, “proposed derivatives rule”), would permit mutual
New Whistleblower Initiatives and Rewards Suggest Increased Enforcement in the Virtual Currency, Foreign Corrupt Practices, Insider Trading, and BSA Spaces
The Commodity Futures Trading Commission (“CFTC”) recently issued a series of four whistleblower alerts aimed at seeking information from would-be whistleblowers in the areas of virtual currency fraud, foreign corrupt practices, insider trading, and violations
State law regulation of the use of artificial intelligence (“AI”) in hiring is happening now. Illinois Governor JB Pritzker recently signed the Artificial Intelligence Video Interview Act (the ”Act”) into law. Effective January 1, 2020, the Act imposes new requirements on employers that use artificial intelligence to screen job applicants for Illinois-based positions using video‑recorded
Steps for Acquired Public Companies to Terminate and Suspend Exchange Act Reporting Requirements
Now that the ink has dried on the signing set and the initial excitement of announcing a public company merger has passed, the deal lawyer’s second shift has just begun. While the focus is often on the drafting and filing of tender