Banking

Expert Analysis

• ESG Disclosure Mandate Faces Hurdles Regardless Of Path

  

  While the U.S. Senate is unlikely to sign onto the Corporate Governance Improvement and Investor Protection Act, which would require companies to make more comprehensive environmental, social and governance disclosures, the U.S. Securities and Exchange Commission may attempt ESG disclosure rulemaking without congressional approval — but it won't be easy, say attorneys at King & Spalding.

• Financial Planning Tips For Retiring Law Firm Partners

  

  As the pandemic accelerates retirement plans for many, Michael Delgass at Wealthspire Advisors outlines some financial considerations unique to law firm partners, including the need for adequate liquidity whether they have capital accounts or pension plans.

• What FTC's 'Penalty Offense Notices' Mean For Companies

  

  In recent weeks, the Federal Trade Commission has resurrected a long-dormant enforcement power by sending hundreds of companies notices of marketing-related offenses — and while the agency may face practical challenges in executing penalties, companies should proceed carefully, say attorneys at Manatt.

• Preparing Remote Deposition Defenses For Corporate Entities

  

  As remote depositions will remain common for the foreseeable future, attorneys defending a deposition notice or subpoena to a corporation should implement certain strategies to mitigate unique challenges, such as less planning time and increased difficulty of establishing rapport with witnesses, say attorneys at Sidley.

• DOL's Proposed Rule Doesn't Make ESG Investment Risk-Free

  

  A proposed U.S. Department of Labor rule aimed at Employee Retirement Income Security Act fiduciaries who take climate change into account should not be viewed as a green investment free pass, as prudent investors must consider the potential for bad returns if climate mitigation efforts fail, says J.B. Heaton at One Hat Research.

• Cannabis M&A: How To Prepare For Regulatory Due Diligence

  

  Cannabis-related businesses that are being acquired or receiving investments or loans should facilitate a robust due diligence process — including keeping records of licenses, regulatory correspondence and standard operating procedures — to insulate themselves from, and ensure other parties are well aware of, regulatory risks, say attorneys at Saul Ewing.

• FTC's New Approach Creates Challenges For M&A Deals

  

  The Federal Trade Commission's recently announced shift in how it will review proposed mergers and acquisitions is part of a broader trend toward increased, social policy-oriented antitrust enforcement, so parties should prepare for longer, more expansive FTC reviews and greater regulatory risks, say attorneys at Fried Frank.

• Perspectives

  Why Law Schools Should Require Justice Reform Curriculum

  

  Criminal defense attorney Donna Mulvihill Fehrmann argues that law schools have an obligation to address widespread racial and economic disparities in the U.S. legal system by mandating first-year coursework on criminal justice reform that educates on prosecutorial misconduct, wrongful convictions, defense 101 and more.

• Pandora Papers Reveal Need For Greater Tax Enforcement

  

  The recent Pandora Papers leak is a reminder of the importance of transparency laws and proper funding for enforcement efforts against tax evasion as bad actors increasingly operate in the shadows, says Daren Firestone and Kevin Crenny at Levy Firestone.

• Girardi Scandal Provides Important Ethics Lessons

  

  The litigation and media maelstrom following allegations that famed plaintiffs attorney Thomas Girardi and his law firm misappropriated clients' funds provides myriad ethics and professional responsibility lessons for practitioners, especially with regard to misconduct reporting and liability insurance, says Elizabeth Tuttle Newman at Frankfurt Kurnit.

• Takeaways From CFPB's Fair Debt Collection Rule Changes

  

  James Sandy at McGlinchey Stafford examines the Consumer Financial Protection Bureau's upcoming amendments to the Fair Debt Collection Practices Act, and offers compliance considerations for debt collectors with respect to new communications methods and safe harbor provisions.

• Series

  Embracing ESG: Jabil GC Talks Compliance Preparation

  

  Tried-and-true compliance lessons from recent decades can be applied to companies’ environmental, social and governance efforts, especially with regard to employee training and consistent application of policies — two factors that can create a foundation for ESG criteria to flourish, says Robert Katz at Jabil.

• 3 Ways CLOs Can Drive ESG Efforts

  

  Chief legal officers are specially trained to see the legal industry's flaws, and they can leverage that perspective to push their companies toward effective environmental, social and governance engagement, says Mark Chandler at Stanford Law School.

• 10 Years On, SEC's Market Access Rule Still Lacks Clarity

  

  The U.S Securities and Exchange Commission adopted the market access rule to address the risks of algorithmic trading, but its failure over the past 10 years to articulate clear standards except through costly enforcement actions has left firms with an informal patchwork of guidance and moving targets for broker-dealers, say Ashley Bashur and Paul Eckert at WilmerHale.

• How Law Firms Can Rethink Offices In A Post-Pandemic World

  

  Based on their own firm's experiences, Kami Quinn and Adam Farra at Gilbert discuss strategies and unique legal industry considerations for law firms planning hybrid models of remote and in-office work in a post-COVID marketplace.