China Counterfeiting Cease and Desist Letters: The Power and the Risks

By | China Law Blog | August 19, 2017
China cease and desistHardly a week goes by without an American or a European company contacting one of our China lawyers wanting to retain us to “stop the counterfeits” of their products online and offline. Far too often these people believe one of our IP lawyers can within 24 hours send out a “template” cease and desist letter and within another 24 hours of that, the counterfeit sales will magically cease. View Full Post
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SEC Approves NYSE Proposed Rule Change Requiring Advance Notice of Dividend and Stock Distribution Announcements

By | MOFO Jumpstarter | August 18, 2017
On August 14, 2017, the SEC approved the NYSE’s proposed rule change amending Sections 204.12, 204.21, and 202.06(B) of its NYSE Listed Company Manual to require listed companies to provide notice to the NYSE at least ten minutes before making any public announcement about a dividend or stock distribution, including outside of the hours during which the NYSE’s immediate release policy is in operation.  View Full Post
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CFTC Suspends Need of Formal Notice for Position Disaggregation Relief

On August 10, the Commodity Futures Trading Commission (the CFTC) issued no-action relief, eliminating the need for certain persons otherwise required to aggregate positions with certain other persons for CFTC position limit purposes to pro-actively file with the CFTC, beginning August 14, formal written notices supporting disaggregation of positions with such other persons relying on the CFTC’s owned-entity exemption, independent account controller exemption and certain other exemptions from aggregation available under CFTC Rule 150.4(b)(1). View Full Post
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SEC Issues Risk Alert On Observations from Cybersecurity Examinations

On August 7, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert summarizing observations of its second round of cybersecurity focused examinations (Cybersecurity 2 Initiative) to assess financial services firms’ practices and legal and compliance issues related to cybersecurity preparedness. View Full Post
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SEC Staff Issues Information Update for Advisers Filing Certain Form ADV Amendments

The staff of the Securities and Exchange Commission’s Division of Investment Management (Staff) has issued an Information Update regarding the SEC’s recently adopted amendments to Form ADV, which will go into effect on October 1. After this date, any adviser filing an initial Form ADV or an amendment to an existing Form ADV must provide responses to the revised form. View Full Post
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Cybersecurity: UK Government Consults On Implementing Network and Information Security Directive

On August 8, the UK’s Department for Digital, Culture, Media & Sport (DCMS) published a consultation paper (CP) on implementing the EU’s Network and Information Security Directive (NIS Directive) (also known as the Cybersecurity Directive). The DCMS explains that the NIS Directive will compel essential service operators to make sure they are taking the necessary action to protect their IT systems. View Full Post
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Update to Registration Statement Processing Procedures

By | MOFO Jumpstarter | August 18, 2017
The Staff of the SEC also recently updated the procedures relating to nonpublic review of draft registration statements.  Specifically, the following guidance was added: The nonpublic review process is available for Securities Act registration statements prior to the issuer’s initial public offering date and for Securities Act registration statements within one year of the IPO. View Full Post
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FCA Updates Commodity Derivatives Website with Q&A

On August 8, the UK Financial Conduct Authority (FCA) updated a section of its website relating to the treatment of commodity derivatives under the revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR) by adding a question and answer document (Q&A). View Full Post
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SEC Staff Guidance On Financial Information in Registration Statements

By | MOFO Jumpstarter | August 18, 2017
The Staff of the Division of Corporation Finance recently posted additional guidance regarding the financial information that an EGC may omit from its draft registration statements, as well as guidance for non-EGC issuers.  See below the Staff’s guidance: Question 1 Question: What financial information may an Emerging Growth Company omit from its draft and publicly filed registration statements? View Full Post
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