Last year, the Staff of the SEC's Division of Corporation Finance and the Division of Investment Management issued guidance for conducting shareholder meetings in light of COVID-19 concerns.
After a 10-year legal battle, involving billions of dollars in potential damages, the U.S. Supreme Court ruled on Monday that Google did not violate Oracle's copyrights related to Java programming.
In Short
The Situation: The Securities and
Exchange Commission s Division of Examinations
( EXAMS ) released a Risk Alert on March 29, 2021, reminding
broker-dealers of their obligation to comply with anti-money
laundering ( AML ) requirements imposed by the Bank
Secrecy Act ( BSA ) and related regulations in
particular, those relating to the filing of Suspicious Activity
Reports ( SARs ).
The Result: The Risk Alert highlighted
deficiencies observed by EXAMS and encouraged broker-dealers to
review and improve their AML policies, procedures, and controls
related to the monitoring and reporting of suspicious activity.
Looking Ahead: The Alert, together with
EXAMS 2021 Examination Priorities, signals a continuing focus
by the SEC on AML issues. To diminish the possibility of an
To print this article, all you need is to be registered or login on Mondaq.com.
Acting Director of the Securities and Exchange Commission s
Division of Corporation Finance, John Coates, provided additional
comments on SPACs on April 8, 2021. Acting Director Coates
noted the unprecedented surge in SPAC activity.
He focused his comments on the legal liability that attaches
to disclosures made in connection with the de-SPAC transaction and,
in particular, to claims that he says have been made by practitioners and commentators that an advantage
of SPACs over traditional IPOs is lesser securities law liability
exposure for targets and the public company itself. In
To print this article, all you need is to be registered or login on Mondaq.com.
This week, we take a look at one decision considering when
California law requires application of California s statute of
limitations, and another reiterating the strict standard for
pleading scienter in a securities fraud case.
The Court holds that under California choice-of-law
principles, California s statute of limitations applies when a
state resident is sued in California and the conflicting
out-of-state law is not intended to protect plaintiffs.
Panel: Judges Wardlaw, Bea, and
Caine, Jr. (W.D. La.), with Judge Bea writing the opinion.
Key highlight: Both