Bits and Pieces on Compliance

Here are a few stories and items that caught my eye this week, but I have not had time to build-out to a full post: The FCPA Enforcement Report of the First Quarter of 2009 from The FCPA Blog

We count seven Foreign Corrupt Practices Act enforcement actions since the start of the year, including indictments, pleas and settlements, along with one newly disclosed investigation. Four of the enforcement actions involve individuals, and four relate to KBR. By this time last year, there had been just a couple of new enforcement actions (2008 finished with eleven organizations and twenty-six individuals being either charged with new FCPA offenses, settling enforcement actions, or having charges amended, reinstated or affirmed). Here’s this year’s rundown so far: . . .

Profiles in Power: The 20 most influential general counsel in America from the National Law Journal

In this inaugural publication of The National Law Journal’s Most Influential General Counsel, we have highlighted 20 attorneys whose leadership has proven strong — and even creative — during the turmoil in the legal industry.

OIG Recommends Action on Reg D Issues, Form D Changes from Melissa Klein Aguilar of The Filing Cabinet

The Securities and Exchange Commission should take steps to better ensure compliance with Regulation D, to act when it finds non-compliance, and should make better use of Form D information. That’s according to a March 31 report by the SEC’s Office of Inspector General, which reviewed Corporation Finance’s process for assessing whether companies appropriately use Reg D, the rule that allows exemptions from federal registration under the Securities Act of 1933 for limited offerings of securities.

Mass. Regulator Accuses Madoff Feeder Fund of “Fraud” by Kevin LaCroix of The D&O Diary

In an April 1, 2009 administrative complaint (here), Massachusetts Secretary of the Commonwealth William Francis Galvin accused Madoff feeder fund Fairfield Greenwich Advisors and its Bermuda affiliate of “complete disregard of its fiduciary duties to its investors” and of “flagrant recurring misrepresentations” that “rise to the level of fraud.”

Landmark Agreements Clear Path for Government New Media

Answering President Obama’s call to increase citizen participation in government, the U.S. General Services Administration is making it easier for federal agencies to use new media while meeting their legal requirements. For the past six months, a coalition of agencies led by GSA has been working with new media providers to develop terms of service that can be agreed to by federal agencies. The new agreements resolve any legal concerns found in many standard terms and conditions that pose problems for federal agencies, such as liability limits, endorsements, freedom of information, and governing law.

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