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March 5, 2013
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Legal News in Brief

  Corporate Spotlight 
  • CBOE's Brodsky sees transaction tax as redundant
    CBOE Holdings Chairman and CEO William Brodsky on Monday spoke on topics including VIX volatility and possible priorities for the Securities and Exchange Commission, and he made it clear that he views financial-transaction tax proposals as unwise. "We already have a transaction tax. It's called Section 31 fees. It has been around for decades. If you look at any transaction you do ... you pay a Section 31 fee that although it doesn't go directly to the SEC, it is intended to fund the SEC," Brodsky said. SmartBrief/SmartBlog on Finance (3/5), CBOE TV (3/4), Bloomberg (3/4) LinkedInFacebookTwitterEmail this Story
  National News 
  • Fannie-Freddie securitization company in the works, FHFA says
    Fannie Mae and Freddie Mac will launch a joint company responsible for home-loan securitization, said Edward DeMarco, acting director of the U.S. Federal Housing Finance Agency. "The overarching goal is to create something of value that could either be sold or used by policymakers as a foundational element of the mortgage market of the future," he said. Reuters (3/4) LinkedInFacebookTwitterEmail this Story
  Legislative Dispatch 
  Employment Focus 
  • Companies face more regulatory scrutiny over contractor classification
    State and federal regulators have cracked down in recent months by filing lawsuits seeking millions of dollars in back pay and taxes from companies alleged to have misclassified workers as independent contractors. Some companies are fighting back against a multiagency effort that has resulted in the collection of $9.5 million in back wages for more than 11,400 misclassified employees. Targeted companies span the labor spectrum and include construction, package delivery, trucking and exotic dance. The Wall Street Journal (3/3) LinkedInFacebookTwitterEmail this Story
  Supreme Court and Federal Court Watch 
  • Swiss bank owes $58M for helping U.S. taxpayers hide money
    Wegelin is required to pay the U.S. $58 million stemming from its guilty plea to assisting American taxpayers in hiding their assets. "To me, what justifies this deal -- which is what it is -- is the practical reality that it would have been difficult for the government to have obtained jurisdiction over the bank," said U.S. District Judge Jed Rakoff. Bloomberg (3/4) LinkedInFacebookTwitterEmail this Story
  Other Legal News 
  Professional and Business Development 
  • Add testing to your repertoire, Ramit Sethi says
    Make a habit of testing your ideas to get data about what works and what doesn't, says Ramit Sethi, the author of "I Will Teach You to be Rich." He shares a story about how he videotaped himself during an interview and realized he wasn't projecting the friendly image he had imagined. "Don't just think ideas in your head. You actually have to go external and validate these results," he said. Barking Up The Wrong Tree blog (2/25) LinkedInFacebookTwitterEmail this Story
  • Do you know your personality type?
    You should learn to recognize your personality profile and the profiles of colleagues, says Shoya Zichy, who identifies four basic personality types. Once you learn your personality type and the strengths associated with it, don't be shy about bringing it up as a way to state your value. "If you work in a pretty crazy environment, you can say something about the fact that you're a good organizer and you're there to help keep them on track," Zichy says. USA Today (3/3) LinkedInFacebookTwitterEmail this Story
  PLI News 
  • "Tightening the Chokehold" -- An Overview of Enhanced OFAC Sanctions and Enforcement
    The U.S. has ratcheted up its pressure on bad-actor states -- Iran, in particular -- through a series of enactments that strengthen sanctions administered by the Office of Foreign Assets Control (OFAC). This One-Hour Audio Briefing, taking place at PLI Online on March 6, will look at the dynamic web of sanctions laws and regulations that can ensnare businesses with even the slightest international presence. LinkedInFacebookTwitterEmail this Story
  • Recent Developments in Corporate Governance and Disclosure Matters
    The past few months have brought a number of important developments on the corporate governance and disclosure front. Changes for audit and compensation committees, Iran-related disclosures, and say-on-pay rules for smaller companies are just a few examples of late. On PLI's Securities Law Practice Center, Skadden's Brian Breheny and his colleagues discuss these developments and others in detail. LinkedInFacebookTwitterEmail this Story
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--Alexander Graham Bell,
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