March 2019


PRACTICAL GUIDANCE

 

Corporate Transactions

 

A new practical guidance collection for transactional attorneys engaged in a divestiture of a line of business or subsidiary – Step-by-Step: Spinoff – is available in the Transactional Intelligence Center’s Practical Guidance Library under Mergers & Acquisitions. Including coverage of a spinoff based on an internal reorganization or in preparation of a sale, this step-by-step format will guide users through all the documents, research, and other preparation needed to conclude the transaction. This collection will be of interest to lawyers advising public companies on reorganization and private companies conducting transactions with spinoff entities.

 

Patents

 

A new collection of Practical Guidance documents has been organized in a Chemical Patents landing page on the Patents & Trade Secrets Practice Center. Chemical patents is a highly specialized practice area and this offering of overviews, strategies, checklists, and sample forms is designed to meet the unique drafting and validity requirements of chemical patents.


TRACKERS

 

Privacy & Data Security

 

In the wake of the enactment of the California Consumer Privacy Act, a number of states have introduced copycat measures seeking to expand consumer privacy rights. Bloomberg Law’s new Comprehensive Consumer Privacy Legislation Tracker keeps users abreast of these developments by providing summaries of the proposals and links to the underlying bills. Attorneys and compliance professionals may need to revise recommendations and best practices as they navigate a more complex regulatory landscape in light of these measures. The tracker is accessible via the Privacy & Data Security Practice Center homepage in the Practice Tools container.


IN FOCUS

 

Banking & Finance

 

In Focus: Legislation on Criminal Use of FinTech focuses on two bills that recently passed in the House of Representatives with bipartisan support. Both bills direct government agencies to take a closer look at how financial technology, such as virtual currency, is being used in the commission of crimes such as human trafficking or terrorism. The page provides summaries for each bill, as well as related bills from the previous congress, and important links. The new In Focus page can be found on the Banking and Finance Practice Center, as well as the In Focus Resources homepage. 

 

In Focus: NYDFS Cybersecurity Regulations focuses on New York’s cybersecurity regulations, which apply to banks, insurance companies, and other entities regulated by the New York Department of Financial Services. These first-in-the-nation regulations require regulated entities to meet certain cybersecurity standards, to designate a Chief Information Security Officer, and to have plans in place to deal with data breaches and other incidents. Regulated entities must certify compliance with the regulations by February 15, 2019. The page provides relevant forms, important links, and also highlights the Privacy & Data Security Practice Center’s Practical Guidance on this topic. The new In Focus page can be found on the Banking and Finance Practice Center, as well as the In Focus Resources homepage.

 

In Focus: Current Expected Credit Losses (CECL) focuses on the Financial Accounting Standards Board’s (FASB) new accounting standard that will require banks to record their expected losses over the lifetime of a loan, or the “current expected credit losses” (CECL), upfront. Most entities will be expected to have adopted the rule by January 2020. The page tracks the development of the rule, as well as the current debates surrounding its implementation and how it may reduce retained earnings for banks. The new In Focus page can be found on the Banking and Finance Practice Center, as well as the In Focus Resources homepage.


PRACTICE CENTERS

 

Securities Practice Center

 

In collaboration with attorneys at Brian Hirshberg and Anna Pinedo at Mayer Brown, Bloomberg Law analysts have published a data-driven update – REIT IPO Market Update: 2019 – on the volatile IPO market. The market update highlights shifting IPO trends across different REIT sectors and internationally. It also discusses market practices and regulations relevant to this area of fundraising. REIT IPO Market Update will be of particular interest to capital markets/securities and M&A attorneys, and to other market participants such as in-house counsel and bankers who focus on the REIT sector. It can be accessed on the Securities Practice Center under Trackers & Trends.

 

Bankruptcy Practice Center

 

The Bankruptcy Practice Center now includes a link to Pending Bankruptcy Legislation, an active preselected query that utilizes Bloomberg Law’s regularly updated database of congressional activity. This mobile tool will improve workflow efficiencies and ensure users have access at any time to the latest legislation that could affect this practice area. 

 

Labor & Employment Practice Center

 

A new international white paper - What to Expect from Brazil's New President in the Employment Area – was published on the Labor & Employment International page,  under International Strategic White Papers. The white paper, written by Leticia Ribeiro C. de Figueiredo, Partner of the Labor and Immigration Practice Group, Trench, Rossi e Watanabe Advogados, discusses the new Brazilian president who represents a radical political shift to the right.

 

Benefit & Executive Compensation Practice Center

 

Several new ERISApedia titles have been added to the Benefits & Executive Compensation Practice Center including Fiduciary Responsibility eSource; Qualified Plan eSource; Form 5500 eSource; and Social Security eSource.