Day Pitney's director of Compliance Risk Services and Hartford senior counsel James Bowers identified "7 Compliance Failures That Facilitated Libor Rigging" for Law360 on January 17. He says that, "In the Libor fiasco, we have yet another failure of companies to properly manage their compliance risks," and notes where the banks involved, Barclays Bank PLC and UBS AG, failed. Among the problems Jim describes are setting unreasonable goals for brokers, not assessing the potential risk of collusion between banks, lack of compliance and ethics training, and overreliance on outside regulation.
Jeffrey A. Clopeck, Henry Nelson Massey and Eliza Sporn Fromberg wrote the article, "SEC's Dating Advice For Internet Platforms And Its Impact," for Law360. The article analyzes how some internet platforms are offering private placements in reliance on Rule 506(b) of Regulation D with approval from the Securities and Exchange Commission. This form of "speed dating" with prospective investors by Internet platforms offering private placements is allowed so long as the platform asks probing questions.
Day Pitney Alert
Stamford, Conn., August 24, 2015 - Day Pitney is pleased to announce that 68 attorneys have been selected for inclusion in the 2016 Best Lawyers in America. Best Lawyers ranks lawyers through peer-review surveys, and has been published annually since 1983.