PH Translates
Articles
The LIBOR Transition—and Litigation Risks
In our podcast, we take a close look at the litigation risks associated with LIBOR transition.
Articles
How Are Governments Reacting to the Invalidation of Privacy Shield?
How are data protection authorities and other regulatory bodies across the EU, and globally, responding to the EU Court of Justice’s decision invalidating Privacy Shield and imposing potential constraints on the use of Standard Contractual Clauses?
Articles
ESG and Mission-Critical Issues for Director & Officer Liability
Amidst a spirited debate around the duties of directors in relation to environmental, social, and governance (ESG) risks, two recent decisions from Delaware courts provide clarifying contours.
Video
Be Prepared for Swap Reporting Enforcement Actions
What should swap dealers and market participants expect from the CFTC in 2020? Hear from Joyce Sophia Xu on the CFTC’s recent focus on enforcement and examinations—and why clients need to be prepared.
Video
WHAT ARE THE TOP ISSUES FACING ASSET MANAGERS?
Diala Minott and Bill Brady share U.S. and UK perspectives on the critical issues asset managers need to keep top of mind.
Video
What's Next for Payments?
Chris Daniel provides his perspective on innovative developments in the payments sector, including virtual currencies, tokenization, and blockchain.
Video
The New U.S. Administration: Outlook for Dealmakers
David Shine, Partner, Mergers and Acquisition Practice
Video
Panel: China's Global Champions
Tom Mitchell, Financial Times Beijing Bureau Chief moderates
Articles
Podcast: Protecting IP in the New Frontier of Health Tech
As COVID-19 pushes the U.S. to innovate at an accelerated pace to respond to this pandemic, a spotlight has been drawn on health tech and the convergence of life sciences and tech. Listen to our podcast.
Articles
Creating An Inclusive Culture
In partnership with the Minority Corporate Counsel Association, we embarked on a series of case studies examining how leading corporations across industries are changing culture in their organizations. Read more
Articles
How to Successfully Litigate During A Pandemic
Our trial attorneys share best practices and actionable insights to help our clients and other companies facing litigation thrive in the new reality of remote litigation. View our CLE video
Articles
Private Equity in Silicon Valley: Healthy Activity Amid New Concerns to Navigate
Private equity firms are expected to continue making significant investments in high tech, says Paul Hastings partner Alex S. Kaufman.
Articles
The diversity 'sea change'
Jennifer Yount was featured in a Q&A session with Private Debt Investor where she noted that the private credit industry is a relationship business. Jennifer said, “Diversity can drive innovation by providing different perspectives to the same problem."
Articles
CAN LAWYERS HELP TREAT CANCER?
Teri O’Brien explains how transactional lawyers in the life sciences space can help put money where it’s needed most.
Articles
KNOWLEDGE, GEOGRAPHIC TIES STRENGTHEN ENERGY LENDING
Legal counsel can help companies negotiate the best terms possible, says Lindsay Sparks—reducing costs and garnering greater freedom to run their businesses.
Articles
A LOOK INTO THE U.S. PRIVATE DEBT MARKET
With the formation of larger private debt platforms, new investors are entering the market. Bill Brady and Matt Murphy share their insights on what lies ahead.
Articles
WHAT’S NEXT FOR EUROPEAN PRIVATE DEBT?
Flexible global capital and a favorable regulatory environment continue to create positive conditions for those providing creative solutions. Luke McDougall and Diala Minott reflect on the key trends impacting the region.
Articles
A National Framework to Regulate Fintech?
U.S. federal regulators released a series of recommendations that form a proposed national framework for companies engaged in fintech. What does this mean for our clients?
Articles
THE SECURITIES ACT OF 2020?
Has the time come for a new Securities Act to increase access to capital and re-energize the economy? Thomas Pollock makes the case in an opinion column for The Hill.
Articles
Direct Lending—A Mature Market?
In Spotlight: Credit Funds, we discuss the outlook for direct lending, including insights from jurisdictions across Europe.
Articles
Reinventing the Retailing Model: A Tale of Two Futures
The relentless growth in online shopping is forcing real change in the retail sector – for shopping malls, developers, and investors alike. This is encouraging forward-looking stores and malls to reshape the retail experience in pursuit of growth.
Articles
IP: Virtual Walls to Protect Virtual Values
In structuring their long-term IP portfolios, boards need to secure their “patent space” by ensuring IP portfolios are current and clearly set out, defenses are robust, and there is a well-established supervisory system.
Articles
In-House Counsel Guide to Ransomware Prevention, Preparedness, and Response
Because ransomware strikes with no warning, companies need to think ahead. Effective plans outline a company’s strategy to prevent, detect, contain, and respond to a ransomware attack.
Articles
THE DIGITAL BOARD: PROFITING FROM A CHANGING ENVIRONMENT
The digital boardroom is still a work in progress.
Articles
BOARDS LEARN TO LISTEN TO INVESTORS
Energised shareholders are putting pressure on companies to engage
Perspectives
Partner, Corporate Department
Vivian Lam -- Markets
Privately owned businesses in emerging markets face more challenges in accessing funding than their peers in established markets.
Perspectives
Global Managing Partner
Sherrese Smith
There was uncertainty about foreign investment in U.S. broadcast and media entities until 2013. Then, in late 2013, the FCC clarified that it would permit aggregate indirect foreign investment in broadcasters to exceed 25%,
Perspectives
Partner, Corporate Department
Garrett Hayes
Today’s financing market has been fundamentally reshaped by technology. Fintech has enabled the creation of new financing platforms for both retail and institutional investors in many markets, including in P2P and B2B investing and lending.
Perspectives
Partner, Corporate Department
Vivian Lam
Chinese investors and businesses operating in China have been facing challenges from the slowing Chinese economy, recent stock market turmoil, and devaluation of the yuan, as well as unpredictable regulatory interventions.
Perspectives
Partner, Litigation Department
Korea has recently adopted a stringent anti-corruption law that restricts and prohibits the private sector from engaging in certain conduct with not only the regulatory agencies, but also certain financial institutions, as well as the media.
Perspectives
Partner, Real Estate Department
Partner, Real Estate Department
David Blumenfeld and Paul Guan
In the past year, the Chinese government accelerated the liberalization of regulatory barriers to foreign investment, including foreign investment in domestic real estate.
Over the past decade, foreign real estate investment has been subject to significant restriction and scrutiny. Foreign investors were concerned about receiving the necessary approvals and—even if deals were likely to be approved—their timing. In a recent regulatory change, now foreign real estate investors are only required to file at the local counterpart of the Ministry of Commerce, except for investments in restricted sectors such as large theme parks and prohibited investment sectors such as golf courses. This is a much more streamlined process, and significantly reduces the time between the execution of definitive documents and transaction closing—from two-to-three months to potentially less than one month. Now, the challenge for foreign investors is increasingly the same one they face in other markets: finding good deals.
China’s outbound real estate investment is subject to the same macroeconomic forces described above, which have somewhat opposite effects on the ability to receive approval to make these investments as the government makes efforts to restrict outbound investments and limit capital outflows. Notwithstanding additional scrutiny of outbound capital flows, we expect Chinese institutional investors to continue to pursue outbound investments. The Chinese pursuing outbound real estate investments are some of the largest institutional investors in the world. As they continue to invest, their level of sophistication is steadily increasing and, with it, their investment appetite is broadening on both a geographical and real estate sector basis.
Perspectives
Partner, Litigation Department
Tara Giunta
Boards are facing new risks with increasing frequency and with swift implications for their companies, shareholders, executives, and themselves, particularly given the prevalence of activist shareholders.
Given this environment, boards are on the hot seat to assure that management has implemented an effective compliance program and detective controls that permit management (and the board) to assess and rank those risks of most threat to the business. It is advisable for companies to take a comprehensive approach to risk identification, assessment, and mitigation. By considering such issues as product lines, geographic coverage, industry sector, and applicable regulatory environment, they are able to flag those risk areas of most concern, which typically range from cybersecurity, fraud, competition, bribery/corruption, money laundering, and export controls/sanctions, to intellectual property, labor/workforce issues, and whistleblowers, to name just a few. By assessing the company’s existing compliance program and function, as well as its existing controls systems, they are able to better leverage those systems and assure that they are operating effectively and efficiently.
Video
Will the Next Recession Have a Softer Landing?
Is the rising volume of debt trading at distressed levels a sign of stress in the U.S. economy, or an indicator that investors are using discretion in the market? Gain insight from Bill Brady in this interview from Bloomberg TV. Click here to watch
Video
How to Successfully Litigate During A Pandemic
Our trial attorneys share best practices and actionable insights to help our clients and other companies facing litigation thrive in the new reality of remote litigation. View our CLE video
Articles
How a Biden Administration May Approach Business and Human Rights
With the U.S. election season heating up, we increasingly are asked for predictions regarding a potential Biden Administration’s approach to ESG and business and human rights. Here are four key areas to watch.
Video
The 4 Minute Update on the U.K. Employment Law Landscape
Suzanne Horne shares her perspective on the U.K.’s top issues, key legislation, and standout case law themes that in-house counsel and HR professionals should watch out for in the next 12 months and beyond.
Video
PODCAST: THE “TRANSFORMATIVE” CFIUS BILL?
Scott Flicker takes a closer look at FIRRMA—the most consequential update to the review process overseen by CFIUS in the last decade.
Video
DOING PRIVATE DEALS PUBLIC STYLE
Mike Kennedy examines the emerging trend of private deals being done “public style”—and what this means for dealmakers and their lawyers.
Video
TOP STAY AWAKE ISSUES FOR TECH DEAL MAKERS
What are the trends shaping opportunities for dealmakers? What are the biggest risks when it comes to protecting innovative companies’ IP?
Video
The New U.S. Administration: Outlook for Investigations and Enforcement
Tara Giunta and Tom Zaccaro, Partners, Litigation Practice
Video
Panel: Investing Globally and Financing Growth
Tom Mitchell, Financial Times Beijing Bureau Chief moderates.
Articles
The Paul Hastings International Regulatory Enforcement (PHIRE) Blog
The international compliance, investigations and enforcement landscape is increasing in complexity, with more countries enacting more regulations, all with differing policy agendas. Follow our PHIRE blog.
Articles
PH FedAction: Financial Regulatory Updates
Follow our blog for the latest updates and insights from our lawyers on U.S. government relief programs and other regulatory developments related to the evolving coronavirus crisis. Read more
Articles
Measuring Impact: Pain Points and Best Practices
Impact investing is rapidly evolving—and the market is growing swiftly. But how can investors measure “impact”?
Articles
A Private Equity View of the Recession
Though the economy is currently thriving,some may interpret warning signs that the next recession is nearing. What should attorneys representing private equity clients do now to help cushion the economic impact that the next recession may inflict?
Articles
Ignorance Is No Longer Bliss: Practicing Law 10 Years After the Crash of 2008
The financial crash of 2008 caused a chain reaction that still reverberates today-not just economically, but also politically and in the legal world.
Articles
PRIVATE EQUITY INVESTMENT IN POWER INFRASTRUCTURE
Kfir Abutbul shares insights on opportunities for investors seeking solid returns on power projects—and the role private equity can play.
Articles
EUROPEAN M&A: CAN THE BOOM SURVIVE BREXIT?
While political uncertainty is generally bad for business, the UK’s impending, uncertain split from the EU is doing little to dampen enthusiasm for M&A.
Articles
CALIFORNIA TAKES THE LEAD ON #METOO LEGISLATION
The #MeToo Movement has inspired the California Legislature to enact a series of new laws to prevent and eliminate sexual misconduct in the workplace.
Articles
DATA SECURITY IN THE CLOUD ERA
As data privacy and security enters a new phase of regulation and control, Sherrese Smith examines the developments and dividing lines in new EU and U.S. rules.
Articles
Private Equity – Are We At A Pivot Point?
While we’re still a long way from private equity’s pre-crash glory days, transactions in today’s market are producing striking returns. Amit Mehta considers the outlook for PE. Read More
Articles
The State of the U.S. Credit Markets
Developed in partnership with Thomson Reuters, our report examines the state of the U.S. credit markets, including the leveraged loan, syndicated sponsor, and direct lending markets.
Articles
Life Sciences & Antitrust: 3 Cases to Watch in 2018
The intersection of complex drug competition frameworks and antitrust laws continues to grow, with increased collaboration between the U.S. FDA and FTC on the horizon. Hear from our lawyers on three cases to watch in 2018.
Articles
FT Special Report: The Rule of Law
As international companies navigate geopolitical and market tumult, the FT takes a closer look at legal and regulatory change, including EU data privacy, China pressing for more say on mergers, and the battle for supremacy on trade rules.
Articles
Cybersecurity: The Intersection of Threat and Innovation
Companies must ensure their decision-making structure is appropriate to effectively tackle cyber risk. It is essential that risks are identified, ranked, mediated, and monitored regularly, and lines of accountability within the company are clear.
Articles
Against the Backdrop of a ‘National Emergency,’ Are Opioid Manufacturers Ready for the Enforcement Spotlight?
This has become, as recognized on the evening news each day, in the homes of people across all sectors of our society, a national crisis of increasingly epic proportions.
Articles
THE BOARD AS CREATOR AND PROTECTOR OF CORPORATE VALUE: ALIGNING WITH CHANGING EXPECTATION
As markets and their demands have grown in complexity, the range of issues that today’s boards have to tackle has steadily expanded.
Articles
WOMEN STILL STRUGGLE TO JOIN BOARDS WHERE TARGETS ARE ABSENT
Despite government initiatives, the number of female executive directors has increased only slightly
Perspectives
Partner, Corporate Department
Jennifer Yount
Innovation is the lifeblood of a growing company; protecting it is vital for future growth.
Perspectives
Partner, Corporate Department
Michael Zuppone
With the recently enacted FAST Act amendments, the JOBS Act “on ramp” provisions will provide more flexibility to IPO candidates.
Perspectives
Partner, Litigation Department
Jong Han Kim Korea
On the corporate side, the major challenge facing Korea is to find new growth engines and markets in response to slowing growth in domestic and global economies.
On the litigation side, we expect Korean companies to continue to face the risks of international patent infringement and trade secret misappropriation lawsuits. Given the risks of adverse outcomes, which include injunctions barring exports of the infringing products, our clients face challenges and opportunities to take proactive measures. These include eliminating or reducing legal risks by invalidating competitors’ patents using PTAB proceedings, and establishing and implementing enhanced compliance programs, including a document retention policy.
Perspectives
Partner, Corporate Department
With the next French presidential election in April-May 2017, and the German election likely to be held in the late summer, political as much as economic events will be influential in shaping client sentiment toward deal making.
To date, private debt has become increasingly interested and active in European finance, and this is a trend that is likely to continue for the right opportunities. Similarly, interest in cross-border deals which further cement brand values and market presence has slowed but not stalled—there was more volume heading out of the region than within it. EU outbound deals accounted for 44% of all cross-regional M&A value in Q3. Deals from the EU into North America saw record values with US$105bn from 121 deals, an increase of 32% year over year. Cross-regional EU inbound deal volume, however, fell by 24% compared to Q3 2015.
Perspectives
Partner, Corporate Department
It is unlikely that there will be much change in the governance and regulation of cross-border deals over the next 18-24 months.
Considerable opportunities nonetheless arise for the astute buyer. Europe has continued to develop its wide range of sophisticated industries but the spread of attractive targets reaches up and down the production chain for interested buyers and investors. The UK has invested heavily in fintech and now holds a leading position in the field, along with payments technology and the integrated use of Bitcoin. The major challenge is how Europe’s regulatory structure will be shaped following the departure of the UK, and whether we are likely to see a more liberal M&A regime emerging for transactions originating out of the UK in response.
Perspectives
Partner, Litigation Department
Chad Peterman
Convergence between the tech and life sciences sectors is likely to increase in pace over the next year.
From the U.S. perspective, the November elections may have a profound impact on these laws. Potential changes include revised patent litigation venue rules, increased restrictions on “pay-for-delay” patent settlements, revised antitrust enforcement priorities, laws targeted at speeding drug and medical device approval, and revisions to the Affordable Care Act. There is great uncertainty about the direction of these and other relevant laws under the new administration and Congress.
Perspectives
Partner, Corporate Department
Sam Waxman
The hallmarks of a successful private capital raise, particularly at the early-stage level, are aligned expectations for both the company and investors as well as flexibility for the company’s future needs.
Articles
What’s Next for the Capital Markets in Latin America?
What are the top trends to follow for the largest Latin American economies—including Brazil, Mexico, Argentina, and Colombia—and what is the outlook for the remainder of 2020? We examine the critical issues to keep top of mind.
Video
LIBOR Transition—Are You Ready?
In our video series, members of our LIBOR Transition Task Force explore the issues clients need to keep top of mind as they develop their LIBOR transition plans and prepare for the road ahead. View our videos
Video
Project Bonds: An Innovative Solution
Project bonds are a unique solution to a longstanding financing challenge. Hear from Cathleen McLaughlin about the rise of project bonds in Latin America—and the benefits they offer clients.
Video
PODCAST: THE LATEST ON PROJECT BONDS
Cathleen McLaughlin and Alex Herman discuss trends in the project bond sector, including the types of projects best suited to bonds and what sponsors need to know.
Video
Bridging the Value Gap in Life Sciences
Sam Waxman joins Naheed Kurji, President and CEO of Cyclica, to discuss how innovative partnerships are powering emerging growth companies.
Video
Brexit: What's Next for Our Clients
David Ereira, Partner, Restructuring and Finance Practice
Video
What are key issues clients need to keep in mind?
Video
Case Study: Xiaomi
Shou Zi Chew, Chief Financial Officer, Xiaomi
Articles
Podcast: What’s Next for Impact Investing?
Environmental, Social, and Governance (ESG) are the three central factors in measuring the sustainability and societal impact of an investment in a company or business. Listen to our podcast.
Articles
Navigating COVID Relief Programs Across Europe
As governments across Europe continue to introduce new measures to respond to the economic consequences of COVID-19, businesses may be unsure whether legislation provides relief programs they can access. We can help. View our guide
Articles
Alternative Lending: What Role Do Attorneys Play?
Alternative lending is a growing industry and an increasingly significant player in corporate finance.
Articles
The Rise of Alternative Lending: Will It Cushion the Next Recession?
Regulating an industry is like squeezing a balloon: one side may get smaller, but the other side expands. In the same vein, bank lending became more regulated and stringent as a result of the last recession.
Articles
HOW WILL THE NEW CFIUS LAW IMPACT FOREIGN INVESTMENTS?
The new law should quicken and improve reviews of foreign investments in the U.S., according to Scott Flicker.
Articles
CHINA-U.S. TRADE RELATIONS AT A TURNING POINT?
With the two nations at a unique point in their trade history, Vivian Lam takes a look at what may come next.
Articles
EU SCREENING OF FOREIGN INVESTMENTS
Negotiators reached a political agreement on an EU framework for screening foreign direct investments, and introduced an alert mechanism enabling regulators to act on short deadlines.
Articles
BREAKING THE GLASS CEILING
In the fifth edition of our comprehensive study, we examine the measures adopted to foster gender equality on boards of directors in 41 jurisdictions around the world.
Articles
California Consumer Privacy Act of 2018
With requirements similar to GDPR, the Privacy Act is set to dramatically change the privacy landscape across the U.S.
Articles
PRESIDENT TRUMP WITHDRAWS FROM JCPOA—SIX KEY TAKEAWAYS
What are the key issues to consider following President Trump’s decision to withdraw from the Joint Comprehensive Plan of Action (JCPOA) and re-impose sanctions on Iran?
Articles
Mapping the Trends: The Global Employer Update 2018
In the new, expanded edition of our guide, we provide succinct updates on major employment law developments across 53 jurisdictions.
Articles
Riding the Bumps: Opportunities in the European Private Debt Market
Luke McDougall and Diala Minott recently joined a roundtable hosted by Private Debt Investor magazine, along with other private debt professionals. Our partners shared their perspectives on the top trends to follow, and opportunities to pursue, in 2018.
Articles
Trade, Regulations, and Investment: Navigating at the Speed of Light
Increasing trade frictions raise the cost of conducting business across borders. How can you best position your company to maintain and grow business in major markets as key free trade touchpoints come under pressure?
Articles
Extraterritoriality and the Rise of Litigation Risk
Cross-border, multi-jurisdictional investigations are the new normal. Few significant investigations are confined to only a single regulator, and many now involve three or more. This poses unique challenges for global companies.
Articles
THE CROSS-BORDER DEAL AT A CROSSROAD: CHARTING A NEW DIRECTION
Will the recent seismic shift in popular political attitudes about globalisation affect the way that corporates tackle international expansion?
Articles
WOMEN STILL STRUGGLE TO JOIN BOARDS WHERE TARGETS ARE ABSENT 2
Despite government initiatives, the number of female executive directors has increased only slightly
Perspectives
Partner, Corporate Department
Cathleen McLaughlin
Risk assessment is the most significant difference. Most emerging markets credits are of a lower risk profile, which is reflected by rating agency ratings.
Perspectives
Partner, Corporate Department
Teri O'Brien
Every deal has a unique set of issues—regulatory, geographic, and political—but great deal structures still depend on having the right fundamentals.
Perspectives
Partner, Corporate Department
Michael Fitzgerald
In recent years Mexico has enjoyed the healthiest economy in Latin America, with a GDP growth rate higher than the U.S., a middle class that is developing at a historic rate, and a good degree of political stability.
In addition to massive investment expected to flow into the energy industry, the creation of the REIT structure in Mexico revolutionized real estate investment. Mexico has produced some of the world’s largest real estate companies in just six years since REITs were introduced. Whether it be real estate, consumer goods for Mexico’s burgeoning middle class, or the fast-growing aerospace and automotive industries, Mexico may now be the world’s most attractive emerging market for international investment. Nevertheless, many economic challenges remain. Global uncertainties have led to plummeting oil prices, and many companies have been hit by the sharp devaluation in the Mexico peso versus the U.S. dollar. With both commodity prices and currency rates remaining volatile, Mexican companies, together with their advisors, must be ready to react to these rapidly changing circumstances.
Perspectives
Partner, Litigation Department
Scott Flicker
The pace of Chinese outbound M&A is clearly accelerating, with the U.S. remaining the most stable and desired destination for Chinese companies looking to hedge against domestic asset devaluation and support business and technological growth.
Increased Chinese investment in U.S. industries that are seen as “sensitive” or “critical” has also resulted in an uptick in CFIUS reviews of Chinese deals, leading to greater focus by deal parties on how the CFIUS process affects their timing and outcomes. The more sophisticated the target, the more likely a CFIUS filing will be warranted and entail a lengthy and searching review. In some cases (such as Fairchild Semiconductor’s recent rejection of a bid from China Resources Microelectronics and Hua Capital Management), U.S. firms are actually walking away from lucrative Chinese offers out of concern that the takeover might not survive CFIUS review.
To address these issues, Chinese investors are exploring non-U.S. companies with a strong tech or engineering base. But this has its limitations. First, the U.S. is still home to a substantial number of companies undertaking cutting-edge R&D in technology and related areas. Second, even acquiring a non-U.S.-based company can generate CFIUS risks if the acquisition has U.S. business operations. This was the reason why CNOOC’s acquisition of Canadian company Nexen triggered a major CFIUS review—the target had operating assets in the Gulf of Mexico. Chinese outbound investors must be aware of the full range of potential CFIUS exposures in assessing potential deals.
Perspectives
Partner, Litigation Department
On the enforcement front, companies should expect the uptick of enforcement actions from the first half of 2016 to continue well into the second half of 2016 through 2017.
In contrast to being the subject of enforcement actions by government authorities, companies are encouraged to self-report potential FCPA issues. The FCPA Enforcement Plan and Guidance pilot program was announced by DOJ on April 5, 2016. This program intends to provide more clearly defined incentives to encourage self-disclosure of potential FCPA issues. On the flip side, the pilot program also includes fairly rigorous requirements on making the self-disclosures in order to receive cooperation credit. As such, the net effect of the pilot program remains to be seen.
Of the nine SEC cases against the healthcare industry from July 2015 to September 2016, seven were related to China. It is increasingly critical and resource intense for pharmaceutical companies operating in China to meet compliance requirements.
Perspectives
Partner, Corporate Department
David Shine
Consolidation in the U.S. healthcare/life sciences space has continued apace through most of 2016.
The first is uncertainty regarding antitrust regulation. In the U.S., the Federal Trade Commission (FTC) is the regulatory agency that reviews healthcare and life sciences transactions. The FTC has been intensifying its scrutiny over the past couple of years and is unlikely to lighten its focus. The reasons for this increased scrutiny are: (1) political pressures to provide consumers with greater protection against price increases, (2) the fact that several seats on the FTC are unfilled and the current members are all more “hawkish” on enforcement, and (3) a general toughening of enforcement by the Department of Justice (the other antitrust regulatory agency) has upped the overall enforcement climate for the FTC.
The second is uncertainty regarding healthcare regulation. The Affordable Care Act (known informally as Obamacare) has been stumbling recently, with several big healthcare providers either leaving the regime or threatening to. As a result, there is a low rumble in Washington about the need to make changes to the Act. However, the nature and extent of any potential changes are unclear. The upcoming U.S. presidential campaign has inevitably created a period of uncertainty until the new administration is established and its policies and lead personnel are in place.
Perspectives
Partner, Litigation Department
Partner, Litigation Department
Boards are facing tremendous pressure from regulators to expand their involvement in corporate affairs.
Quite appropriately, boards may wish to enhance oversight, and should ensure that management has in fact identified the company’s specific risk profile and undertaken thoughtful, responsive measures to address it. While doing so, however, board members should remain mindful that their role (and one that provides them substantial protection from personal liability under Delaware corporate law) is to oversee corporate affairs and not to manage them. Preserving this distinction allows boards and management to function in the areas where they are best suited, while maintaining the personal protection afforded directors in their oversight role.
Events
The initial coin offering (ICO) market has become one of the most closely watched areas of financial activity. In our teleconference series, we offer a detailed look at the range of potential risks and outcomes in this time of tightening regulatory attention.
Articles
The SEC’s Relentless Focus on Cybersecurity
After WannaCry, head of enforcement says cybersecurity is the greatest threat to the industry.