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December 24, 2012
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Legal News in Brief

  Corporate Spotlight 
  • ICE-NYSE merger bolsters calls for consolidation of regulators
    The proposed $8.2 billion merger between NYSE Euronext and the IntercontinentalExchange has prompted renewed debate about merging the Securities and Exchange Commission and the Commodity Futures Trading Commission. "This merger just screams out for a consolidated regulator," said Jaret Seiberg, a Guggenheim Securities analyst. "History tells us that having regulation split up between multiple entities doesn't work." The Washington Post (12/21) LinkedInFacebookTwitterEmail this Story
  • IPO applicants start getting background checks in China
    China has begun investigating applicants for initial public offerings, including the credibility of their financial statements, according to the official China Securities Journal. The China Securities Regulatory Commission will disqualify any company that fails to meet its requirements, the newspaper reported. Reuters (12/23) LinkedInFacebookTwitterEmail this Story
  National News 
  • Obama nominates Kerry for secretary of state post
    President Barack Obama nominated Sen. John Kerry, D-Mass., to the post of secretary of state, replacing Hillary Rodham Clinton, who plans to step down. Kerry is the chairman of the Senate Foreign Relations Committee. Sens. John McCain, R-Ariz., and Lindsey Graham, R-S.C., are among the most vocal Republican senators on foreign policy matters and said they expect to vote for Kerry's confirmation. Bloomberg (12/21) LinkedInFacebookTwitterEmail this Story
  Legislative Dispatch 
  Employment Focus 
  • Labor laws lead Ohio restaurant to implement no-tipping policy
    Casa Nueva, a restaurant in Athens, Ohio, has stopped allowing its employees to accept tips. The restaurant had used a system in which all employees shared tips, but ended the practice after the U.S. Labor Department announced it would enforce rules that prohibit certain types of employees from participating in tip pools. Slate (12/19) LinkedInFacebookTwitterEmail this Story
  • U.S. workers stay entrenched in jobs longer
    American workers reported being at their current jobs a median of 5.4 years as of the beginning of 2012, an increase from 4.7 years in 2000, reports the Employment Benefit Research Institute. Fear of a difficult job market may be keeping workers at their jobs longer, as government statistics show the quit rate was only 1.5% in October. Bloomberg Businessweek (12/20) LinkedInFacebookTwitterEmail this Story
  Supreme Court and Federal Court Watch 
  • CFPB, states win case against Fla. company
    A court has ordered Florida-based Payday Loan Debt Solution to pay as much as $100,000 in customer refunds as a result of an enforcement action from the Consumer Financial Protection Bureau and five states. The firm violated state and federal laws by charging upfront fees for its services. The case, which is the CFPB's first joint enforcement action with its state allies, involves four state attorneys general and Hawaii's Office of Consumer Protection. Bloomberg (12/21) LinkedInFacebookTwitterEmail this Story
  Professional and Business Development 
  • Channel your inner Walter Cronkite to get better information
    Learn to ask questions like a journalist in order to get answers that can advance your career objectives. Veteran journalists provide tips, such as to ask concise questions that begin with "who" or "what" and to cut off rambling answers to keep the conversation focused. Lifehacker (12/20) LinkedInFacebookTwitterEmail this Story
  PLI News 
  • How To Hear What Is Sometimes Not Being Said
    Knowing how to read a public company's financial statements can help you read between the numbers to extrapolate relevant information, spot red flags, gauge the financial health of a company, and better communicate with business and financial professionals. Learn more at the Jan. 30 audio briefing Reading Public Company Financials -- What You Need To Know. LinkedInFacebookTwitterEmail this Story
  • CAFC Says Res Judicata Bars 102, 103 Defenses
    The U.S. Court of Appeals for the Federal Circuit recently issued an opinion in Cummins v. TAS, the latest decision in a legal battle that started in 2003. The court agreed that Cummins could have pursued claims regarding invalidity and unenforceability of the TAS patents in prior litigation, which featured the same parties, the same facts and a final resolution on the merits. On PLI's Patent Law Practice Center, Gene Quinn discusses the latest in this never-ending patent battle. LinkedInFacebookTwitterEmail this Story
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  Editor's Note 
  • SmartBrief will not publish Tuesday
    In observance of Christmas, SmartBrief will not publish Tuesday. Publication will resume Wednesday. Enjoy the holiday! LinkedInFacebookTwitterEmail this Story
In seed time learn, in harvest teach, in winter enjoy."
--William Blake,
British poet and painter

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