Corporate > AG Deal Diary
17 Aug '18

This week we highlight an analysis by Deloitte which reviews companies responses to the continued push by investors and stakeholders for greater proxy statement disclosure of both new and existing topics. Overall, companies are demonstrating a voluntary increase of disclosures, though some areas are being reported at a slower pace than others.

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13 Aug '18

Today, President Trump will sign the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA).  This bill expands the purview of CFIUS, which will now have jurisdiction over real estate transactions near sensitive government locations and ports, and noncontrolling investments in U.S. businesses associated with critical technology, infrastructure and/or sensitive personal data.  Our trade team has outlined this legislation and its impact to various investors and transactions.

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10 Aug '18

On September 1, 2018, five new requirements included in the New York State Department of Financial Services’ (DFS) Cybersecurity Regulation go into effect – (1) audit trails, (2) application security, (3) data disposal requirements, (4) monitoring authorized users’ activity, and (5) encryption of nonpublic information. Of these, the requirement to encrypt nonpublic information when held at rest or transmitted over external systems may be the most burdensome for businesses. Entities that fall within the Regulation’s limited exemption provided in Section 500.19(a) (e.g., fewer than 10 employees, less than $5 million in gross annual revenue for last three years, or less than $10 million in year-end total assets) are exempt from complying with any of these provisions, aside from the data disposal requirement. All other covered entities are expected to be in compliance as of September 1.

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19 Jul '18

Akin Gump litigation partner Peter Altman was quoted by Variety  for an article regarding insider trading concerns which arise when large gatherings of CEOs occur, specifically at annual conferences like the annual Allen & Co. media retreat. Altman said, “People try to get access to public company information all the time through meetings with management or calls to investor relations, but the concentration of power brokers heightens the possibility of improper exchanges of information taking place. That’s what’s potentially problematic.”

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09 Jul '18

Akin Gump has issued an alert detailing the background, key provisions, enforcement and penalties of the recently passed California Consumer Privacy Act. In addition, we outline proactive steps for businesses to take to protect themselves from the likely effects of the act.

Click here to read the full alert.

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10 May '18

Akin Gump has released an alert on President Trump’s announcement that the U.S. government has withdrawn from the Iran Nuclear Deal and that secondary sanctions will be re-imposed. The sanctions will restrict non-U.S. persons from engaging in a broad range of business in Iran and it remains to be seen how the sanctions will square with the policies in the other countries that plan to continue their commitment to the deal.

Click here to read the full alert.

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09 Apr '18

Akin Gump has issued an alert on the sanctions placed by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on prominent Russian businessmen, senior Russian government officials and state-owned Russian companies. The alert provides background, a summary of the sanctions designations and consideration of potential risk exposure.

Click here  to read the full alert.

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19 Mar '18

Bloomberg Law's Securities Regulation & Law Report has published the article “Big Data and the Risks of Insider Trading,” written by Peter Altman and Kelly Handschumacher, litigation partner and associate, respectively, at Akin Gump, and Jennifer Hustwitt, a vice president in the financial institutions group at Marsh & McLennan. The article looks at how investment advisors can prevent, or even mitigate, liability for insider trading in connection with the use of alternative data.

To read the full article, please click here.

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