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Special Alert: NYDFS accelerates Libor transition planning
On December 23, 2019, the New York Department of Financial Services issued an “ Industry Letter ” requesting that each NYDFS-regulated institution submit the institution’s plan for addressing the transition away from Libor-based credit, derivative, and securities exposures. The NYDFS letter has...
Special Alerts"GDPR-based objections to U.S. discovery requests: 2019 year in review" by Leslie L. Meredith (Legaltech News)
U.S. civil litigants faced with an obligation to produce “personal data” protected by GDPR, the European Union’s General Data Protection Regulation, can find themselves on the horns of a serious dilemma. In 2019, the first full year since GDPR was enacted, not a single court excused compliance with...
Articles"When criminal juries disagree, but someone goes to prison anyway" by Caroline K. Eisner (Bloomberg Law)
It sounds like common sense. To send someone to prison, a jury must unanimously agree on the defendant’s guilt. But earlier this term, the U.S. Supreme Court heard oral argument in Ramos v. Louisiana , which raises the question of whether the Sixth Amendment actually requires unanimity in a state...
Articles"The hazy legal landscape of cannabis: A review" by Fredrick S. Levin, Daniel P. Stipano, Katherine L. Halliday, and Benjamin W. Hutten (Los Angeles Daily Journal)
The legality of cannabis varies widely on what product is at issue and what law applies. There is significant divergence, and at times direct conflict, between state and federal laws. Under federal law, a slight difference in chemical composition or the marketed use of a product can determine...
Articles"The first days: Setting the tone for a successful internal investigation" by Bree Murphy
An internal discovery or a criminal or civil regulator’s inquiry that sparks an internal investigation thrusts in-house counsel into the uncomfortable and complex role of exploring potential wrongdoing inside the company’s walls. These are high-stakes matters in which the range of outcomes is...
Buckley Commentary & Analysis"High Court seems skeptical of 5th Circ. sentencing practice" by Elizabeth R. Bailey and Jill Winter (Law360)
The U.S. Supreme Court heard oral arguments on Tuesday in a case that may clarify how specific a defendant’s lawyer must be when objecting to a criminal sentence, and when she must make that objection, in order to receive a more favorable standard of review on appeal. The question before the...
Articles"Stronger transatlantic cooperation could be boon for DOJ, ailing U.K. Serious Fraud Office" by Timothy J. Coley (Bloomberg Law)
The Department of Justice has over the past decade collaborated in several high-profile investigations with the Serious Fraud Office, the agency responsible for investigating and prosecuting complex financial crimes in the United Kingdom. Their work in bringing cases related to the Libor and...
ArticlesSpecial Alert: OCC and FDIC issue CRA modernization proposal
On December 12, 2019, the OCC and the FDIC jointly issued a notice of proposed rulemaking (NPR) to modernize the regulatory framework implementing the Community Reinvestment Act. The NPR generally focuses on expanding and delineating the activities that qualify for CRA consideration, providing...
Special Alerts"Foreign defendants beware of 'outside the United States' sentencing enhancements" by Paige Ammons
Foreign citizens and companies criminally prosecuted in the United States may face an unwelcome surprise if convicted ─ a higher sentence due solely to the fact that they operated in a foreign country. A little known enhancement in the Federal Sentencing Guidelines governing fraud offenses...
Buckley Commentary & AnalysisSpecial Alert: Banks no longer required to file SARs for hemp-related businesses
Federal and state banking regulators confirmed in a December 3 joint statement that banks are no longer required to file a suspicious activity report on customers solely because they are “engaged in the growth or cultivation of hemp in accordance with applicable laws and regulations.” * * * Click...
Special Alerts