California Assembly Bill 1825 codified in California Government Code section 12950.1 requires that employers train supervisors on sexual harassment every two years. AB 1825 applies only to entities that regularly employ 50 or more employees or regularly receive the services of 50 or more persons pursuant to a contract. Presumably the “receiving services” language is … Read more »
Knowledge Management and Compliance
One of the reasons for moving from knowledge management to compliance was the overlap in concepts and some issues. Sumner Blount summarized a lunch talk from Scott Mitchell of OCEG discussing the need for a unified approach to managing risk and compliance: 1. The high cost of information silos – siloed approaches to risk and compliance … Read more »
Walker Guidelines
In February 2007 the British Private Equity and Venture Capital Association asked Sir David Walker to undertake an independent review of the adequacy of disclosure and transparency in private equity with a view to recommending a set of guidelines for conformity by the industry on a voluntary basis. This review culminated in November 2007 with … Read more »
New Data Security Regulations Have Sweeping Implications For Massachusetts Businesses
A white paper written by Joe Laferrera of Gesmer Updegrove LLP New Data Security Regulations Have Sweeping Implications For Massachusetts Businesses (.pdf) provides a great analysis of the new Massachusetts Data Privacy Regulations, their impact and how to deal with them. These are my prior posts on the new Massachusetts Data Privacy Regulations: Computer System … Read more »
Legal Expenses
Mark A. Srere and Amy J. Conway-Hatcher of Morgan, Lewis & Bockius LLP wrote Legal Expenses for The Recorder (CAL LAW). The article compares the results of U.S. Department of Justice and SEC investigation against Lucent with FCPA Opinion Procedure Release 08-03. Lucent spent millions of dollars on hundreds of trips for Chinese government officials … Read more »
There is Money in Going Green
Lim Lay Ying wrote an article that popped up in iStockAnalyst: There’s Money in Going Green. The article traces the savings some companies it found in reto-fitting real estate properties to be more energy efficient. “With existing buildings representing the largest portion of any city’s building stock – a situation that will continue to be … Read more »
SAFETY Act
The Support Anti-terrorism by Fostering Effective Technologies Act of 2002 (SAFETY Act) provides some legal liability protections for providers of Qualified Anti-Terrorism Technologies – whether they are products or services. The goal of the SAFETY Act is to encourage the development and deployment of new and innovative anti-terrorism products and services by providing liability protections. … Read more »
Counting Clients under the Investment Advisers Act
With the demise of The Hedge Fund Rule, you can look to Rule 203(b)(3)-1 to help you figure out how to count clients. The key part of the rule from a private investment fund perspective is (a)(2)(i): A corporation, general partnership,limited partnership, limited liability company, trust (other than a trust referred to in paragraph (a)(1)(iv) … Read more »
Counting Clients under the Investment Advisers Act – The Demise of the Hedge Fund Rule
Section 203(b) lays out the exceptions to registration under the Investment Advisers Act. Section 203(b)(3) exempts you if during the previous 12 months (i) you have fewer than 15 clients and (ii) you do not hold yourself out as an investment adviser. For private investment funds, the general partner is generally considered an investment adviser … Read more »
Siemens Reserves $1.3 Billion to Settle Corruption Charges
The German conglomerate Siemens has set aside $1.3 billion to settle an ongoing corruption investigation according to CFO.com: Siemens Reserves $1.3 Billion for Probe. Back in April, international law firm Debevoise & Plimpton LLP, hired by Siemens to investigate bribery and corruption charges dating back to the late 1990s, found evidence of violations of domestic … Read more »