Our attorneys frequently author or co-author articles, memoranda and newsletters. Please click here if you would like to receive a copy of any of these publications.
Deferred prosecution agreements (DPAs) are now available in the United Kingdom for the resolution of criminal investigations of certain serious economic crimes. Following the publishing of the DPA Code of Practice in February, DPAs provide a middle ground between a guilty plea (or a trial) and full prosecutorial declination. The first DPAs are likely to be subject to intense court and public scrutiny: Because the authorities will want their initial efforts to succeed, prosecutors likely will only offer such agreements in matters that comfortably fit the code's “public interest” standard, and early DPAs likely will have terms favourable to the government regarding the “fair, reasonable and proportionate” standard.
European lawmakers recently reached agreement on UCITS V, which contains amendments to UCITS, the EU directive regulating the management and marketing of EU mutual funds. Market focus has been drawn to the new remuneration requirements, which also could impact fund managers outside the EU.
March 10, 2014 | Skadden, Arps, Slate, Meagher & Flom LLP | Jay B. Kasner, Matthew J. Matule, Edward B. Micheletti, Peter B. Morrison, Amy S. Park, Noelle M. Reed, Charles F. (Chuck) Smith, Jennifer L. Spaziano
This morning, the Supreme Court granted the writ of certiorari in Public Employees Retirement System of Mississippi v. IndyMacMBS, Inc. The petition raises an issue regarding the application of American Pipe tolling to claims brought under the Securities Act of 1933. In American Pipe & Construction Co. v. Utah, 414 U.S. 538 (1974), the Court held that “the commencement of a class action suspends the applicable statute of limitations as to all asserted members of the class who would have been parties had the suit been permitted to continue as a class action.” Id. at 554.
As the situation in Ukraine and the international response continue to unfold, many businesses are considering the potential impact of U.S. and European sanctions. We provide a brief analysis of an executive order signed on March 6 by President Obama authorizing sanctions and the corresponding actions of his EU counterparts.
Spring 2014 | Skadden, Arps, Slate, Meagher & Flom LLP | Lauren E. Aguiar, John H. Beisner, David S. Clancy, Anthony J. Dreyer, Jessica D. Miller, Steven F. Napolitano, Jason D. Russell, Charles W. Schwartz, Michael Y. Scudder, Geoffrey M. Wyatt, Matthew S. Barkan, Catherine Fisher, Hillary A. Hamilton, Heather A. Lohman, Brittany D. Parling, Nina R. Rose, Jordan M. Schwartz, Matthew Stein, Jessica N. Walker, Kamali Willett, Brian Baggetta, Kristen J. Greeley, Megan C. Manfred
This is the third edition of The Class Action Chronicle, a quarterly publication that provides an analysis of recent class action trends, along with a summary of class certification and Class Action Fairness Act rulings issued during each quarter. Our publication is designed to keep both practitioners and clients up to date on class action developments in antitrust, mass torts/products liability, consumer fraud and other areas of law.
The U.K.'s banking regulator recently published a consultation paper detailing its approach to supervising international banks, focusing on guidelines for U.K. branches of non-EU banks. International banks should consider the opportunities and challenges that may result.
March 2014 | The Banking Law Journal | Patrick Brandt