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March 11, 2013
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Legal News in Brief

  Corporate Spotlight 
  • Analysis: "Stress test" results differ from market indicators
    The Federal Reserve's most recent "stress test" indicates that Citigroup is safer than JPMorgan Chase. The result contrasts with credit ratings and prices for credit default swaps, which indicate JPMorgan is safer, and has some analysts questioning whether the test can accurately measure the safety of the biggest banks. "At the end of the day, there is a legitimate question about the ability of regulators to fully evaluate $2 trillion institutions because of the complexity and exposures they have," said Fred Cannon of Keefe, Bruyette & Woods. Reuters (3/9) LinkedInFacebookTwitterEmail this Story
  • U.S. corporations pay less tax by holding more profit offshore
    As U.S. companies' profit soars, more of the money is being kept offshore beyond the U.S. taxation jurisdiction, according to an analysis by The Wall Street Journal. Among 60 of the biggest corporations, profit kept abroad totaled $166 billion in 2012, in effect blocking the U.S. from taxing 40% of that money, according to the newspaper. The Wall Street Journal (3/10) LinkedInFacebookTwitterEmail this Story
  National News 
  Legislative Dispatch 
  Employment Focus 
  • Why ADA complaints are increasing
    The Equal Employment Opportunity Commission says the number of complaints filed under the Americans with Disabilities Act has increased by more than 50% in the past five years. Recent ADA amendments have broadened the definition of disability and made it more difficult for companies to defend themselves against claims, writes Jonathan Segal, an employment lawyer. CNNMoney/Fortune (3/6) LinkedInFacebookTwitterEmail this Story
  • 60% of large employers expect to continue health benefits
    A survey from Towers Watson and the National Business Group on Health found that 60% of 500 large employers said it was unlikely they would stop offering health care benefits for regular employees, and 82% said they would not send full-time employees to insurance exchanges without financial support. The portion of employers confident they would offer health care benefits for the next decade was 26%, up from 23% the previous year. Chicago Tribune (tiered subscription model)/Reuters (3/7) LinkedInFacebookTwitterEmail this Story
  Supreme Court and Federal Court Watch 
  Other Legal News 
  Professional and Business Development 
  • Never take a promotion without negotiating pay
    Don't let your employer pressure you into accepting a promotion before you've discussed a pay raise, Alison Green writes. Your negotiating power disappears as soon as you accept the offer. "If they put you off and push you to start doing the new job now, you need to hold firm: 'I'm not comfortable taking on a new job without discussing the terms, such as salary,' " she writes. Ask A Manager blog (3/5) LinkedInFacebookTwitterEmail this Story
  PLI News 
  • Title VII's Comprehensive Regulatory Framework for Derivatives
    Now that the rule-making relating to Title VII of the Dodd-Frank Act has been nearly finalized, market participants are preparing themselves to function in a very different derivatives market. The March 12 audio briefing Navigating the Requirements for Derivatives Trading: Title VII of Dodd-Frank will discuss identifying swaps and security-based swaps, qualifying as an end-user, extraterritorial issues, and more. LinkedInFacebookTwitterEmail this Story
  • Financial Institutions Face Danger From Anti-Terrorism Act
    The past decade has seen a surge in the number of cases brought against financial institutions under the Anti-Terrorism Act. Recently, however, the Second Circuit held that plaintiffs seeking to bring ATA claims against a financial institution for injuries suffered in terrorist attacks in Israel failed to adequately allege proximate causation. In a new memo on PLI's Securities Law Practice Center, experts from Sullivan & Cromwell say this case will be an important precedent for financial institutions. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
The greatest way to live with honor in this world is to be what we pretend to be."
--Socrates,
Greek philosopher


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