Document(s) published by this organization: 40
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|A Creditor May Be Held Liable Under the FDCPA Even if it Hires a Third Party to Collect on the Debt|
Brian Robert Morrison, Joy Harmon Sperling; Day Pitney LLP;
November 21, 2013, previously published on November 15, 2013In a significant decision issued on November 13, the United States Court of Appeals for the Second Circuit held that a creditor may be found liable under the Fair Debt Collection Practices Act (the FDCPA) even when that creditor hires a third party to collect on its debts. Vincent v. The Money...
|IRS Notice Adds Choices to Cafeteria Plans|
Anubhav Gogna, Liza J. Hecht; Day Pitney LLP;
November 11, 2013, previously published on November 7, 2013On October 31, the Internal Revenue Service (IRS) issued Notice 2013-71, which modifies the "use it or lose it" rule for health flexible spending account plans (Health FSAs) by providing a carryover option for unused amounts remaining at the end of a plan year. Under this carryover...
|Preventing Another Madoff: SEC Adopts New Custody Rules for Broker-Dealers|
Eliza Sporn Fromberg; Day Pitney LLP;
October 31, 2013, previously published on October 29, 2013On July 30, the Securities and Exchange Commission (SEC) announced new investor protection rules requiring broker-dealers that have custody of customer securities and funds to file an annual report attesting to their compliance with the broker-dealer financial responsibility rules, as well as a...
|Proposed Crowdfunding Rules: The Storm Before the Calm?|
Jeffrey A. Clopeck, Lane T. Watson; Day Pitney LLP;
October 29, 2013, previously published on October 25, 2013Almost a year and a half after Congress passed the Jumpstart Our Business Startups (JOBS) Act in April 2012, and following scores of subsequent comment letters, the SEC finally released its proposed rules regarding equity-based crowdfunding on October 23, 2013. The SEC's press release heralding the...
|Bank D&O Liability Insurance: Have You Reviewed Your Policy Recently?|
Ronald H. Janis, Frank E. Lawatsch, Michael T. Rave, Robert M. Taylor; Day Pitney LLP;
October 29, 2013, previously published on October 25, 2013The FDIC issued a Financial Institution Letter (FIL) this month advising banks of the recently noted increase in exclusionary provisions in director and officer (D&O) liability insurance policies being purchased by banks. (See FIL-47-2013.) The FIL further notes that these exclusionary provisions...
|Lessons of Litigation: Understanding the NFL Settlement|
David W. Lieberman; Day Pitney LLP;
October 24, 2013, previously published on October 23, 2013As you may have heard, the NFL recently agreed to pay $765 million to settle concussion-related lawsuits brought by more than 4,500 retired players and their families, alleging the NFL deliberately concealed the risks of head trauma, leading to long-term damage for those who play the sport. While...
|What's Your Estate/Game Plan?|
Sean T. Donovan; Day Pitney LLP;
October 24, 2013, previously published on October 23, 2013Fall in New England brings with it the most bittersweet time of the year. We trade the splendor of warm, long summer days for the chilly gray of the impending winter and, of course, the glorious return of football season. Football is America's sport, and football season provides its loyal fans with...
|KICK-START Your Intellectual Property Into High Gear|
Jeremy Blackowicz; Day Pitney LLP;
October 24, 2013, previously published on October 23, 2013"Crowdfunding" is the concept of leveraging the broad reach of the Internet to secure funding for a new project via a large number of small contributions from many individuals. In 2012, there were more than 450 crowdfunding platforms. Kickstarter, launched in 2009, is one of the...
|FINRA Proposes Rules to Illuminate "Dark Pools"|
Eliza Sporn Fromberg; Day Pitney LLP;
October 15, 2013, previously published on October 14, 2013The Financial Industry Regulatory Authority (FINRA) filed a rule proposal with the Securities and Exchange Commission (SEC or the Commission) on September 30 that would impose reporting requirements on alternative trading systems (ATSs), including dark pools. Dark pools are a type of ATS in which...
|FATCA: The Wave of the Future|
G. Warren "Warren" Whitaker; Day Pitney LLP;
October 15, 2013, previously published on October 14, 2013FATCA, or the Foreign Account Tax Compliance Act, represents the culmination of several years of U.S. initiatives aimed at uncovering unreported offshore accounts owned by U.S. taxpayers. It was signed into law on March 18, 2010, as part of the HIRE (Hiring Incentives to Restore Employment) Act....