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February 21, 2013
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Legal News in Brief

  Corporate Spotlight 
  • ING to pay $1.2M fine to FINRA over e-mail retention
    The Financial Industry Regulatory Authority has levied $1.2 million in fines on five ING Group units, which the regulator said failed to properly retain and review millions of e-mails in employee accounts. ING will pay the fine to resolve the case but did not admit nor deny wrongdoing. Reuters (2/19) LinkedInFacebookTwitterEmail this Story
  • Internal Libor review is coming soon, U.K.'s FSA says
    The U.K.'s Financial Services Authority has promised a parliamentary committee that it will publish an internal review of an investigation into manipulation of the London Interbank Offered Rate in the next few weeks. The Treasury Select Committee has expressed concern that despite the FSA's assertion that it worked with U.S. regulators, its investigation seemed to lag significantly. Meanwhile, Gary Gensler, chairman of the Commodity Futures Trading Commission, said that fraud continues to affect the way Libor is set. "We have a lot more work to do," said Gensler. Reuters (2/21), Bloomberg (2/21), BBC (2/21), The Wall Street Journal/Dow Jones Newswires (2/20) LinkedInFacebookTwitterEmail this Story
  National News 
  Legislative Dispatch 
  • 2 Democrats plan to introduce transaction-tax bill
    Sen. Tom Harkin, D-Iowa, and Rep. Peter DeFazio, D-Ore., reportedly plan to introduce a bill that would impose a 0.03% tax on bond and equity transactions. Derivatives would be taxed at a yet-to-be-determined rate. Industry experts say such levies would curb economic growth and shrink trading volume. Also, there appears to be limited political will for such a tax. The Trade News (U.K.) (2/20) LinkedInFacebookTwitterEmail this Story
  Employment Focus 
  • Mandatory bus rides don't require compensation, court rules
    Employees who are required to take a 20- to 30-minute bus ride to and from a designated parking area every day are not entitled to compensation for time spent traveling, a federal appeals ruled last month. The employees are subject to company rules of conduct while on the bus, but are not required to perform any work, and can read or sleep. (2/19) LinkedInFacebookTwitterEmail this Story
  Supreme Court and Federal Court Watch 
  • Other News
  Other Legal News 
  Professional and Business Development 
  • Are your work buddies holding you back?
    Falling into a group of friends at work who have similar backgrounds to you can be helpful at first, but eventually will hold you back, experts say. "If your strategy is only to focus on people who you have things in common with, then you run the risk of missing a lot of people who are either at the top or are on the way to the top," says John Rice with Management Leadership for Tomorrow. CNN/Route to the Top (2/20) LinkedInFacebookTwitterEmail this Story
  • Tips for overhauling your career
    Bob Flynn, an IBM veteran with 33 years in the IT business, is leading Novell as it looks to reinvent itself, and his strategies offer insight on what it take to embrace a new career or challenge, Kaihan Krippendorff writes. For example, protecting key assets and learning to leverage them in new directions was key for Novell and can be a good foundation when branching out, Krippendorff writes. Fast Company online (2/19) LinkedInFacebookTwitterEmail this Story
  PLI News 
  • Expert Guidance Through Updated Post-Grant-Proceeding Measures
    Post-Grant Proceedings Before the Patent Trial and Appeal Board guides readers through the process of initiating a post-grant proceeding, taking discovery, seeking sanctions, proposing and opposing claim amendments, effectively advocating at the oral hearing, appealing to the Federal Circuit, and handling a wide array of issues involving co-pending district court litigation. LinkedInFacebookTwitterEmail this Story
  • ERISA Controlled Group Liability for Private Equity Funds: Fully Covered or Over Exposed?
    This Feb. 27 audio briefing will focus on the court and administrative decisions addressing whether ERISA's controlled group liability provisions expose investment fund assets (including minority investments) to the pension plan liabilities of distressed portfolio companies. LinkedInFacebookTwitterEmail this Story
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