Mayer Brown LLP Chicago, DC Document Search Results (136)
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|Strategies for the Preservation and Production of Audio Recordings|
Robert E. Entwisle, Ethan A. Hastert, Kim A. Leffert; Mayer Brown LLP;
May 4, 2015, previously published on April 30, 2015A large financial institution that is a major participant in the swaps market instituted an audio data retention policy to conform with newly enacted regulatory requirements which required swaps dealers to keep a record, for one year, of all oral communications concerning quotes, solicitations,...
|Proposed US Treasury Regulations Attempt to Distinguish “Active” Insurance Companies from Hedge Funds|
James R. Barry, Jason S. Bazar, George W. Craven, Mark H. Leeds; Mayer Brown LLP;
May 4, 2015, previously published on April 27, 2015Offshore insurance companies can provide substantial tax benefits to their owner-insureds through current deductions for the insurance premium and, if properly structured, deferral on reserve investments. In 2003, the Internal Revenue Service (the IRS) warned that it would scrutinize...
|Ninth Circuit: No-Rehire Clause in Settlement Agreements May Be Unlawful Restraint of Trade|
Andrea M. Weiss, Ruth Zadikany, Lori A. Zahalka; Mayer Brown LLP;
May 4, 2015, previously published on April 29, 2015Decision: In Golden v. California Emergency Physicians Medical Group, the Ninth Circuit Court of Appeals held that a no-rehire clause in a settlement agreement violated California’s broad prohibition on restrictive covenants (Business & Professions Code section 16600). In Golden, an...
|Accountants, Not Clients, Hold Privilege Governing Confidentiality of Records under Illinois Public Accounting Act|
Dana S. Douglas, Alexandra L. Newman, Stanley J. Parzen; Mayer Brown LLP;
April 30, 2015, previously published on April 2, 2015The Illinois Supreme Court has issued a decision of great import to all individuals and businesses that provide confidential information to their certified public accountants (CPAs). The Court has resolved the previously open question of whether the CPA or the client who provided confidential...
|Proposed US Legislation Could Significantly Impact Trade-Exposed Sectors|
Timothy J. Keeper, Warren S. Payne; Mayer Brown LLP;
April 30, 2015, previously published on April 16, 2015We expect that Congressional leaders will introduce bipartisan trade promotion legislation as early as today. While this legislation does not have commercial ramifications, its successful enactment into law will enable the completion and implementation of certain international trade agreements that...
|NAIC Adopts Guidance on Acquisition of Control of US Insurers|
David W. Alberts, Lawrence R. Hamilton, James R. Woods, Nicole Zayac; Mayer Brown LLP;
April 28, 2015, previously published on April 23, 2015Any person or company that wishes to acquire control of a US insurer is required to file an acquisition statement called a “Form A” with the insurance regulatory authority in the state where the target insurer is legally domiciled (and, in some cases, in states where the target is...
|Legal Developments in Construction Law|
Mayer Brown LLP;
April 28, 2015, previously published on March 2015When a dispute arose between parties who had dealt with each other for years, the first key issue was to determine the contract terms. The purchase order had terms on the back but did not appear to refer to them on the front and, when the buyer placed orders by email or fax, it did not send a copy...
|US Securities and Exchange Commission Announces First Whistleblower Protection Case Involving Restrictive Language in Confidentiality Agreements|
Dana S. Douglas, Marcia E. Goodman, Matthew A. Rossi, Gina T. Saviola; Mayer Brown LLP;
April 16, 2015, previously published on April 6, 2015The US Securities and Exchange Commission (SEC or Commission) has announced its first enforcement action against a company for using restrictive language in confidentiality agreements, resulting in a Cease and Desist Order by consent that removed language that the SEC asserted could stifle the...
|Supreme Court Agrees to Decide When ERISA Plans May Recover Benefit Overpayments|
Brian D. Netter, Nancy G. Ross; Mayer Brown LLP;
April 14, 2015, previously published on March 31, 2015When a fiduciary to an employee benefit plan overpays a plan participant, the fiduciary must resort to remedies offered by the Employee Retirement Income Security Act (ERISA). Section 502(a)(3) of ERISA authorizes a fiduciary to recover “appropriate equitable relief”—a nebulous...
|Three Things US Audit Committee Members Should Consider in 2015|
David S. Bakst, Jason S. Bazar, John P. Berkery, Edward S. Best, Jennifer J. Carlson; Mayer Brown LLP;
April 14, 2015, previously published on January 23, 2015Audit Committees are facing increased demands from many quarters heading into 2015, which expand their responsibilities, expose them to greater regulatory scrutiny and potential liabilities, and provide the basis for proxy and shareholder activists to oppose the re-election of Audit Committee...