Mind the GAAP: Seeking Transparency Through Disclosure Again

Securities and Exchange Commission

There has been a resurgence of concern about the misuse of financial measures and key performance indicators not based on generally accepted accounting principles (GAAP). Late last year, the Chair of the Securities Exchange Commission (SEC), Mary Jo White, addressed the 2015 National Conference of the American Institute of Certified Public Accountants (AICPA). She noted

Why Temple Law School Launched a Center for Compliance and Ethics

Center For Compliance and Ethics Temple Law School Advisory Board

Over the past few decades, the federal government has increased its focus on investigating and prosecuting fraud and corruption in a variety of industries. Businesses are required to develop comprehensive compliance programs to comply with a variety of federal, state, and, in some cases, foreign laws and regulations to minimize risk and avoid legal repercussions.

Flying Off the Rails

United Airlines Airplane

The recent shake-up at United Airlines in the wake of the continuing travails involving the State of New Jersey and the Port Authority of New York and New Jersey (PANYNJ) provides some sharp lessons and warnings for in-house counsel, compliance practitioners, and board audit committees. The head of United Airlines recently resigned in light of

Changes Coming to Anti-Money Laundering Compliance in New York

Coins

Recently, New York’s Department of Financial Services (“DFS”), the State’s banking and insurance regulator, identified two challenges to effective financial regulation: (1) deterrence for individual bad actors and (2) adequate anti-money laundering (“AML”) compliance by banks and other financial institutions. According to the DFS, federal regulation has been insufficient to address these challenges. Thus, like

Obama Administration Proposes Federal Data Breach Notification Standard

Data Breach

This January, President Obama announced a series of initiatives aimed at protecting consumer data. One of these proposals is the Personal Data Notification and Protection Act (“PDNPA” or “Act”), which would create a federal standard for data breach notifications. If passed, businesses will need to know these new requirements to prepare adequately for a data

No Mouthpiece, No Privilege: Pennsylvania Superior Court Holds that the Attorney-Client Privilege Does Not Survive the Dissolution of a Business Entity

Attorneys Speaking

Dissolving a business comes with a host of complicated legal issues, and the Superior Court of Pennsylvania recently added one more to the list. In Red Vision Systems, Inc. v. National Real Estate Information Services, L.P., 2015 Pa. Super. 5 (2015), the Court held for the first time that the attorney-client privilege dissolves along with