Last week, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) released a Risk Alert covering the most frequent advisory fee and expense compliance issues identified in over 1,500 deficiency letters sent to registered investment advisers during the past two years. The alert highlighted six categories of compliance risks frequently observed by the OCIE ...
An increased number of corporate transactions and mergers have been observed in the oil and gas sector on the Norwegian Continental Shelf (NCS) in recent years. Several oil majors and traditional utilities and downstream companies have reduced their presence and, to some extent, been replaced by smaller companies, including start-ups backed by private equity ...
Guatemalan respected Judge Erika Aifan issues a historical ruling in a criminal case brought against construction companies. A plea bargain was reached under an abreviated process allowed under Guatemala´s Criminal Law where senior executives for the companies accepted making facilitation payments to the ex-Minister of Construction in order to accelerate backed payments owed for previous construction deals ...
Increase in merger and acquisition deals notified in Ireland In recent months there has been 27 merger deals notified to Ireland's Competition and Consumer Protection Commission ("CCPC") which is up 42% from the 19 notifications as of the same date last year.This increase is following a pattern of sustained increases, for example, there had been 72 notifications across the whole of 2017 which was an increase on 2016's total of 67 ...
As with every year, the 2018 legislative session will impact education in West Virginia in a variety of ways. Today, we want to bring to your attention two bills that will make minor – but important – changes in the way schools operate, both of which were signed by the governor last week. The first is Senate Bill 244, related to possession of deadly weapons on school grounds or at school activities ...
Population growth has become the be-all and end-all for economic prosperity, but how on Earth can we cope with the extra billions of people? While “leafing” – or should I instead say “scrolling” in today’s need to sound tech savvy – through the news websites, the two subjects seemed to have captured the media’s attention: immigration and plastic ...
H.B. 4270 Passed - March 10, 2018 Signed by Governor - March 27, 2018 Effective - June 8, 2018 The Information Reporting and Payments to Owners bill (H.B. 4270) is a companion bill to the Cotenancy Modernization bill ...
As of recently, state aid control is a part of theMontenegrin Competition Agency's (the "Agency") scope of authority ...
On March 15, 2018, the National Center for Energy Control (“CENACE”) announced the fourth long-term auction for the purchase and sale of power, capacity, and clean energy certificates. The term of the contracts for power and capacity will be 15 years while the term for clean energy certificate contracts will be 20 years. The standard commercial operation date of the power generation projects awarded under the auction is scheduled for January 1, 2021 ...
This article provides a brief review of MSHA enforcement data and a look at MSHA’s regulatory agenda. MSHA Enforcement Data (data from January 1, 2017 to December 31, 2017) MSHA issued 104,412 enforcement actions to mine operators in 2017, an increase of approximately 11,793 or 11.3 percent from 2016. Of these, 58,083 (or 55.63 percent) were issued to metal/nonmetal operators while 46,329 (or 44.37 percent) were issued to coal operators ...
On March 1, 2018, at the American Bar Association’s National Institute on White Collar Crime, top Department of Justice (DOJ) officials signaled expansion of DOJ’s self-disclosure policy to non-Foreign Corrupt Practices Act (FCPA) cases ...
Last week, United States Attorney General Sessions announced the creation of the Department of Justice Prescription Interdiction & Litigation (PIL) Task Force to combat the prescription opioid crisis. According to the Department of Justice (Justice), the PIL Task Force will rely on “all available criminal and civil enforcement tools” to hold those at “at every level of the [opioid] distribution system” accountable for unlawful conduct ...
In West Virginia, we are approaching another Personnel Season (for Personnel Season deadlines for the 2017-2018 school year, click here). We are often asked about the listing of individual employee names on county board of education agendas ...
Earlier this year the European Commission published a draft Withdrawal Brexit Agreement. It is a draft treaty to embody the key principles from the Joint Report of the Commission and the UK on the first three elements of the Brexit negotiations (i.e., People, Ireland and Money - the "PIM" Phase). The draft Agreement sets out a roadmap for the EU's vision of the withdrawal process.This is a negotiating move by the EU - it is not an agreed draft. It is a move by the EU in the Brexit chess match ...
Yesterday, the U.S. Supreme Court significantly narrowed the scope of the Dodd-Frank Act's anti-retaliation measures. The decision resolved a split in authority by excluding from Dodd-Frank's whistleblower protections those persons reporting suspected violations only within their companies. In reversing the Ninth Circuit, the Court held that "Dodd-Frank's anti-retaliation provision does not extend to an individual who has not reported a violation of the securities laws to the SEC ...
READ: SEC Enforcement Division Announcement On February 12, 2018, the SEC Division of Enforcement announced the Share Class Selection Disclosure Initiative self-reporting initiative (the SCSD Initiative) ...
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) has announced its 2018 examination priorities. The 2018 priorities provide insight into what activities OCIE believes present the highest risks to investors and, as such, what the examiners will be highlighting during their examinations of registered entities this year ...
On February 13, 2018, Mexico’s Federal Electricity Commission (“CFE”) announced the bidding process for its Ixtepec Potencia – Yautepec Potencia Transmission Line in Oaxaca (“Project”). The transmission lines will cross the following states: State of Mexico, Morelos, Puebla, Oaxaca, Mexico City and Veracruz. The estimated investment is US$1.7 billion and it will have a transmission capacity of 3,000 MW at a voltage level of 500 kV ...
Earlier this year, and five years after being presented before the National Congress, Law 21,064 that “Introduces modifications to the regulatory framework that rules water on inspection and sanctions matters”, was enacted and published in the Official Gazette (Bulletin 8149-09) (the Law). The main modifications introduced by the Law to the current regulatory framework are the following: 1 ...
As the new year started, two Department of Justice memoranda began circulating that may bring a change in the way the United States focuses its efforts in the FCA arena. The first, entitled, “Factors for Evaluating Dismissal Pursuant to 31 U.S.C ...
On February 9, 2018, the Ministry of Energy (“SENER”) published in the Official Federal Gazette the “Guidelines for Interconnection of Power Plants and Connection of Load Centers” (Manual para la Interconexión de Centrales Eléctricas y Conexión de Centros de Carga) ...
On February 7, 2018 the SEC Office of Compliance Inspections and Examinations (OCIE) issued the 2018 National Exam Program Examination Priorities. In introducing the examination priorities for 2018, OCIE describes the four pillars upon which the work of OCIE is based: promoting compliance; preventing fraud; identifying and monitoring risk; and informing policy. OCIE includes in the examination priorities factual data relating to the increase in examinations of investment advisers ...
IN THIS ISSUE: SEC Releases Update to 2018 Agenda of Regulatory Priorities The SEC Enforcement Division’s Initiatives Regarding Retail Investor Protection and Cybersecurity ENFORCEMENT ACTIONS: F-Squared Investment, Inc ...
Municipal Advisor Exam Results On November 7, the SEC’s National Examination Program issued a Risk Alert providing the SEC staff’s observations after conducting over 110 examinations of municipal advisors during the Municipal Advisor Examination Initiative ...
