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January 7, 2013
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Legal News in Brief

  Corporate Spotlight 
  • Basel panel eases up on liquidity-coverage ratio
    The Basel Committee on Banking Supervision has granted a four-year reprieve and phase-in period for its liquidity-coverage ratio, a step that banks had argued was necessary to sustain lending. Originally, banks were required to have in 2015 sufficient liquid assets to cover expected outflow over 30 days. The date for that has been changed to Jan. 1, 2019, with banks needing to show a 60% ratio in 2015. "[The Group of Governors and Heads of Supervision have] rescued the concept of a global liquidity rule, but its reality remains up in the air," said Karen Shaw Petrou, managing partner of Federal Financial Analytics. Financial Times (tiered subscription model) (1/6), Reuters (1/6), Bloomberg (1/7), The Wall Street Journal/Dow Jones Newswires (1/6) LinkedInFacebookTwitterEmail this Story
  National News 
  • Researchers: Factory jobs were hit by trade deal with China
    Giving China "permanent normal trade relations" status in 2000 has reduced U.S. manufacturing employment by 29.6%, according to a paper by Federal Reserve researcher Justin Pierce and Yale University's Peter Schott. Without the deal, U.S. manufacturing jobs would have increased by about 10% rather than contracting, they concluded. The Washington Post/Wonkblog (1/6) LinkedInFacebookTwitterEmail this Story
  Legislative Dispatch 
  Employment Focus 
  • Employers can't withhold witness statements from unions, NLRB rules
    One of the National Labor Relations Board's final rulings of 2012 overturned a 34-year-old precedent that said employers didn't have to give unions witness statements obtained during internal investigations. The ruling means employers won't be able to offer "blanket assurances" of confidentiality, Patricia Trainor writes. (1/3) LinkedInFacebookTwitterEmail this Story
  • 3 employee benefits affected by the "fiscal cliff" deal
    The "fiscal cliff" bill passed by Congress last week permanently renews a tax break for employers that offer education benefits, temporarily increases the maximum pretax contribution that employers can make toward employees' mass-transit expenses and makes it easier for employees to convert their 401(k) plans into Roth 401(k) plans. Business Finance (1/3) LinkedInFacebookTwitterEmail this Story
  Supreme Court and Federal Court Watch 
  • Former portfolio manager enters not-guilty plea in insider-trading case
    A former portfolio manager for SAC Capital Advisors has pleaded not guilty to charges in an insider-trading case. Mathew Martoma is accused of receiving insider information related to a pharmaceutical drug and using it to help his company avoid losses when negative information about the drug was going to be released. Bloomberg (1/4) LinkedInFacebookTwitterEmail this Story
  • Other News
  Other Legal News 
  • Report shows history of FTC's activity regarding mergers
    A recently released report summarizes the Federal Trade Commission's efforts to enforce merger rules between 1996 and 2011. Mergers had a hard time gaining the agency's approval if customers complained or if "hot documents," which predict an impact on competition, were discovered, the report shows. The Blog of Legal Times (1/4) LinkedInFacebookTwitterEmail this Story
  Professional and Business Development 
  • How to scrub your online image before a job interview
    Since most interviewers will check you out online before an interview, take time to clean up your social media profiles, experts say. "Use the About You section on Facebook, Bio section of Twitter and the Introduction section of Google+ to showcase your knowledge base in your industry," social media consultant Crystal Washington says. CBS MoneyWatch (1/3) LinkedInFacebookTwitterEmail this Story
  • If you save the company money, make some noise
    Many managers aim to outperform their spending targets, but not all realize the importance of quickly reporting revised spending projections, Paul Smith of Procter & Gamble writes. Not reporting savings can lead senior managers to make important strategic decisions based on inaccurate information. "If you've figured out a way to save more money, by all means do it. Just let management know about it," Smith writes. ThoughtLeaders blog (1/2) LinkedInFacebookTwitterEmail this Story
  PLI News 
  • Project Management for Lawyers 2013
    Legal project management is quickly becoming a critical way of doing business in law firms and legal departments. This annual program, taking place in New York and at PLI Online on Jan. 22, will take the foundational elements covered in the past two years' programs and show how they can apply to your law firm or legal department -- with the examples of organizations who are using legal project management to transform themselves. LinkedInFacebookTwitterEmail this Story
  • Practice Tips from the PTO
    The America Invents Act post-grant proceedings effectively hybridize patent litigation and prosecution practices to yield new procedures to challenge or reinforce granted patents. Recently, Hon. Michael P. Tierney, Administrative Patent Judge for the U.S. Patent and Trademark Office, Board of Patent Appeals and Interferences, spoke about practicing before his court after the AIA. Check out the video on PLI's Patent Law Practice Center. LinkedInFacebookTwitterEmail this Story
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If money be not thy servant, it will be thy master. The covetous man cannot so properly be said to possess wealth, as that may be said to possess him."
--Francis Bacon,
British author and statesman

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