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Securities & Corporate Law News
In-house attorneys looking for a better way to organize, vet and easily retrieve legal news created the National Law Review online edition.
Around the clock, the National Law Review's editors screen and classify breaking news and analysis authored by recognized legal professionals and our own journalists.
There is no log-in to access the database and new articles are added hourly.
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To Self-Disclose or Not Self-Disclose? Thoughts From SEC’s Enforcement Director
At a recent securities regulation conference, Gurbir Grewal, director of the Securities Exchange Commission’s (SEC) Division of Enforcement, weighed in on the benefits of cooperating and self-reporting misconduct.
The SEC has identified several influential factors it finds persuasive when assessing such cooperation.
Engaging in early communication, being transparent in evidence gathering, and discussing areas of agreement or disagreement can prove critical to receiving consideration.
More on SEC Self- Disclosure Here >
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New Corporate Sustainability Due Diligence Directive: A Ticking Bomb?
On 24 May 2024, the Council approved the political agreement on the Corporate Sustainability Due Diligence Directive, which means that the text is final (and will be published shortly).
It is surprising that this Directive has not attracted much media attention so far. In our view, it deserves one: it may give a powerful tool to the national enforcement authorities (and indirectly to the citizens) to enforce the green deal goals directly against the companies, on an ad-hoc basis and based on rather blurred criteria. The Directive could also make civil claims (and thus also class actions) much easier. That is why further advocacy seems necessary.
More on Corporate Sustainability Due Diligence Directive Here >
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The Corporate Transparency Act and Tribal Businesses: What You Need to Know
Congress passed the Corporate Transparency Act (CTA) to address money laundering, tax fraud, and other illicit activity by requiring companies to report ownership information to the Financial Crimes Enforcement Network (FinCEN). The CTA may impact your Tribal businesses, as most companies chartered under state, Tribal, or foreign law are now required to report on their “beneficial owners”—defined as those who exercise substantial control over the reporting company or anyone who owns at least 25% of the company.
More on Corporate Transparency Act Here >
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