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November 15, 2012
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Legal News in Brief

  Corporate Spotlight 
  • Government memo sheds some light on Foreign Corrupt Practices Act
    The federal government has released a 130-page document meant to provide more clarity on the scope of the Foreign Corrupt Practices Act. "It is difficult to envision any scenario in which the provision of cups of coffee, taxi fare, or company promotional items of nominal value would ever evidence corrupt intent," although funding a pricey trip for a government official would not be a good idea, the document notes. In the past, groups such as the U.S. Chamber of Commerce have pushed to amend the act to protect businesses. The Wall Street Journal (11/14) LinkedInFacebookTwitterEmail this Story
  • NYSE trade interruption might bring scrutiny
    A New York Stock Exchange server problem temporarily halted trading in more than 200 companies Monday morning, a hiccup expected to heighten scrutiny over self-regulation. It was the latest of many such glitches during the past few months. "Reliance on technology has enabled the markets to achieve extraordinary levels of speed and efficiency," Securities and Exchange Commission Chairman Mary Schapiro said. "But with technology comes a responsibility for getting it right, minimizing errors and protecting the interests of investors." The Trade News (U.K.) (11/14) LinkedInFacebookTwitterEmail this Story
  • SEC sets record for enforcement actions
    The Securities and Exchange Commission initiated the most enforcement actions in its history against financial advisers and investment firms during fiscal 2012, which ended Sept. 30. The regulator filed 147 actions, one more than in fiscal 2011, the previous record. InvestmentNews (free registration) (11/14) LinkedInFacebookTwitterEmail this Story
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  National News 
  Legislative Dispatch 
  • Senators voice concerns about Basel III plan
    Senators are questioning Basel III capital rules for banks, saying a proposal for implementation is overly complex. "I'm concerned Basel III allows the largest banks to use complex internal models to determine capital requirements for transactions that were some of the most troublesome during the crisis," said Sen. Sherrod Brown, D-Ohio. Brown also expressed concerns about over-the-counter derivatives used by major financial institutions. MarketWatch (11/14), The Wall Street Journal/Deal Journal blog (11/14) LinkedInFacebookTwitterEmail this Story
  Employment Focus 
  • Affordable Care Act focus shifts to new regulations
    The Department of Health and Human Services has already submitted rules on essential health benefits, wellness programs, insurance regulations and quality initiatives to the Office of Management and Budget, but has yet to present regulations on the federal exchange. Now that the political future of the Affordable Care Act is assured, the focus will shift to an upcoming flood of regulations, according to this article. The Hill/Healthwatch blog (11/12) LinkedInFacebookTwitterEmail this Story
  Supreme Court and Federal Court Watch 
  • CBOE files lawsuit alleging patent infringement
    The Chicago Board Options Exchange, alleging that Deutsche Boerse's International Securities Exchange has violated some of the CBOE's patents, is suing for least $525 million in damages. Earlier this year, the U.S. Court of Appeals for the Federal Circuit reinstated a patent lawsuit that International Securities Exchange brought against the CBOE. Bloomberg (11/13) LinkedInFacebookTwitterEmail this Story
  Professional and Business Development 
  • How to have a lifetime of career happiness
    If you want to succeed and be fulfilled, be clear about what matters most to you, hold yourself accountable for what happens and stand up for what you want, Kathy Caprino writes. "Successful professionals commit to increasing their awareness of who they long to be in the world, how they want to be of service, uniquely, and what's in the way," she writes. Forbes (11/13) LinkedInFacebookTwitterEmail this Story
  • LinkedIn Groups can act as posters for a conference presence
    Posting to LinkedIn Groups can be a low-visibility time suck, but plastering your face next to comments is a way to build connections in preparation for a conference, John Nettles writes. "There are some really great groups out there. It's just that LinkedIn Groups were not created to be RSS feeds. Unless your branding goals are carefully targeted, you may want to consider building your reputation through other means," Nettles writes. (11/12) LinkedInFacebookTwitterEmail this Story
  PLI News 
  • Victory for Nintendo in Wii Patent Dispute
    Recently Nintendo announced that Impulse Technology Ltd. voluntarily abandoned a patent-infringement lawsuit brought against Nintendo of America following what Nintendo characterized as "an unfavorable decision from Judge James Gwin that undermined Impulse's legal arguments." As Gene Quinn discusses on PLI's Patent Law Practice Center, in fact, Impulse Technology's patent infringement lawsuit against all of the defendants is in tatters. LinkedInFacebookTwitterEmail this Story
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Keep your fears to yourself but share your courage with others."
--Robert Louis Stevenson,
Scottish novelist, poet and essayist

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