News

Margin Requirements for Uncleared Derivatives Delayed for Certain Counterparties

By EsqSocial Corporation 06/08/19

The target date at international level for regulators to introduce margin requirements for uncleared derivatives for counterparties with lower trading volumes has been extended for a year by the International Organization of Securities Commissions...

Manufacturers, Airports And More Take Note, North Carolina Ratchets Up PFAS Testing

By EsqSocial Corporation 06/08/19

Current or past sources of emerging contaminants should be aware that the North Carolina Department of Environmental Quality has ordered that publicly owned treatment plants (POTWs) in the Cape Fear River Basin test their influent for the presence of...

Enhancing Transparency in the Agencies’ Approach to BSA/AML Examinations

By EsqSocial Corporation 06/08/19

Last month the Financial Crimes Enforcement Network (FinCEN) and the federal bank regulators issued a Joint Statement aimed at improving transparency into their risk-focused examination and supervision of banks’ compliance with Bank Secrecy...

Are You Properly Vetting Your Service Providers?

By EsqSocial Corporation 06/08/19

I'm frequently asked by dealer clients to speculate about whether they have their compliance house in order simply based on what DMS provider, underwriting or scoring system provider, or forms provider they use. "I'm using all of these great and...

Utility Provider Settles Call Recording Lawsuit for $3.7 Million

By EsqSocial Corporation 06/08/19

Tiger Natural Gas, Inc. recently settled a class action privacy suit alleging that it illegally recorded sales calls with over 27,000 potential customers. Although Tiger hired a third party to handle its telemarketing, Tiger will pay $3.7 million on...

Kruse-Western Wins Partial Dismissal in ERISA Lawsuit over $244 Million Stock Sale

By EsqSocial Corporation 06/08/19

The federal court affirmed ERISA’s limitations on the types of claims and remedies available under ERISA. This well-reasoned decision affords Congress the deference it deserves by limiting claims and remedies only to those Congress intended to...

SEC Enforcement in Financial Reporting and Disclosure: 2019 Mid-Year Update

By EsqSocial Corporation 06/08/19

We are pleased to present our annual mid-year update on financial reporting and issuer disclosure enforcement activity for 2019. This White Paper primarily focuses on the U.S. Securities and Exchange Commission's enforcement activity but also...

Delaware Court Of Chancery Dismisses Caremark Claim, Finding Consumer Class Action Settlement Was Not A "Red Flag" For Consumer Protection Law Violations

By EsqSocial Corporation 06/08/19

On July 29, 2019, Chancellor Andre G. Bouchard of the Delaware Court of Chancery dismissed a stockholder derivative action asserting breaches of fiduciary duty claims against the directors of J.C. Penney Company, Inc. for failure to make a pre-suit...

$14k to treat iron-poor blood? That’s rich. As is politicians’ health care frenzy.

By EsqSocial Corporation 06/08/19

Iron poor blood? For many of a certain age, mere mention of that phrase conjures the major advertising campaigns of yore for a popular, over-the-counter nostrum called Geritol. The tonic is still around and sells for less than what a first-run movie...

Is There Securities Fraud Without Reliance And Causation?

By EsqSocial Corporation 06/08/19

Section 25401 of the Corporations Code is California's securities fraud statute. Readers of this space will know that that scienter was not required under the former version of the statute but that the legislature rewrote Section 25401 to conform to...

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