By contrast, the DFS Rule is less discriminate in its application, covering any entity operating pursuant to a license, registration, charter, or similar authorization under New York’s Banking, Insurance, or Financial Services Laws. In the event the new DFS Rule is applicable to entities subjected to rules promulgated under the GLBA, such application would generally be permitted, as the GLBA provides that a state regulation may afford persons greater protections than those provided under the GLBA Safeguards Rule. While the DFS Rule diverges from the SEC, Interagency, and FTC Rules to varying degrees, it is consistently more prescriptive and particularized, and thus stands in fairly stark contrast with the existing cybersecurity legal landscape. … [Read more...] about New York State Department of Financial Services Cybersecurity Regulation Poised to Reshape Existing Regulatory Landscape
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It is not likely that the skepticism of businessman Trump will translate to President Trump pushing for a wholesale overhaul of the law or its revocation. With regard to Mr. Trump’s view that the FCPA imposes a disproportionate impact on U.S. companies, the reality is that seven of the ten largest penalties have been imposed on non-U.S. companies. Strong leadership by the United States on corruption has led to a more consistent level of anticorruption laws around the world. With the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions increasingly becoming the benchmark for anti-bribery standards (it has been signed by more than 40 countries), the result has been other countries enacting FCPA-style legislation or enhancing their measures to meet OECD standards. Both OECD and other countries (often at the urging of the United States) are implementing new anticorruption laws and stepping up their enforcement of their laws. For … [Read more...] about Foreign Corrupt Practices Act and New Trump Administration: Your Top Ten Questions Answered
AdministrationBetter Buildings Challenge PartnersThe Obama Administration announced June 26 that 36 states, local governments, and school districts have joined President Obama’s Better Buildings Challenge. The new commitments total nearly 300 million square feet in job-creating building energy upgrades. The same day, the Treasury Department released new public tax guidance making it easier for state and local governments to access more than $2 billion in existing low-cost financing to fund energy efficiency and renewable energy projects through Qualified Energy Conservation Bonds. Lead by former President Clinton and the President’s Council on Jobs and Competitiveness, the Challenge is part of the Better Buildings Initiative President Obama launched in February 2011 to support job creation and make buildings 20 percent more efficient over the next decade by catalyzing private sector investment in commercial and industrial building energy upgrades. The announcement brings … [Read more...] about Energy and Environment Law Update – July 2, 2012
SCOTUS APPEALFor the students, the lure is more than just the chance to work on important cases with big-time practitioners. They are also drawn by the celebrity status the Supreme Court has achieved in recent years, fostered by the attention given to Bush v. Gore in 2000 and issues surrounding the appointment of Chief Justice John G. Roberts Jr. in 2005. … [Read more...] about Taking the Firm to SCOTUS School
Although Chadbourne has been looking for a merger partner at least since last fall, this is the first time that talks have progressed to a point where a potential marriage prospect was named, the magazine says. Meanwhile, several partners have departed recently, including Abbe Lowell, a white-collar defense lawyer who left in April to join McDermott Will & Emery. … [Read more...] about Chadbourne, London Firm to Merge?