John W Gibson and Tim Harris discuss the enforcement risks created by cum-ex transactions and the implications for jurisdictions, such as the UK, where cum-ex transactions per se have not been carried out, but where dividend arbitrage trades carry a risk of facilitating tax evasion, money laundering, or market abuse.

Further to the “Professional Future” law, which entered fully into force last summer, new regulations have been adopted this year which reform the system for the secondment of foreign workers in France. Angéline Duffour, Anna Milleret-Godet, and Saruji Sambukumaran discuss how these new regulations, some applicable immediately and some going into effect in July 2020, aim to increase workers’ rights and employer obligations.

In an article for Forbes, Muriel Goldberg-Darmon discusses the benefits of a recent market reform in France that lowers the threshold for majority shareholders to implement a squeeze-out, as well as the increased protection for minority shareholders proposed by the Autorité des marchés financiers (AMF, the French financial markets regulator) further to this reform.

Nous vous proposons, dans cette newsletter, de revenir sur les nouvelles règles applicables au détachement de salariés en France, issues de la loi Avenir professionnel du 5 septembre 2018, applicables pour la majeure partie depuis le 1^er juillet dernier. Nous ferons également le point sur les principaux changements apportés à la procédure de reconnaissance des accidents du travail et maladies professionnelles (AT-MP) à compter du 1^er décembre 2019, sans oublier notre sélection de jurisprudence.

C. Evan Stewart explores the Sarbanes-Oxley protocols and states' ethical standards in his latest column for the NY Business Law Journal.

In a recent article for Forbes, Muriel Goldberg-Darmon discusses the benefits of an entity’s or individual’s cooperation during an enforcement procedure before the Autorité des marchés financiers (AMF, the French financial market regulator).

Regards croisés entre Caroline Ruellan, Présidente de SONJ Conseil et Muriel Goldberg-Darmon. (Muriel Goldberg-Darmon speaks with Caroline Ruellan, President of SONJ Conseil, about the relationship between shareholder dialogue and privileged information in an interview with Forbes).

Negative employee attitudes, chronic complaining, insubordination and gossiping are bad for the workplace. They can impact employee morale and productivity and if spread outside of the organization, reflect very poorly on that company. While employers should have appropriate written polices and promptly address employee griping and rudeness head on -- through investigations, frank discussions, performance reviews, enforcement of clearly delineated policies and procedures and disciplinary measures when necessary --- employers must tread carefully. Not all gripes are created equal . Some complaints constitute legally protected activity, and efforts to curb them could run afoul of labor laws. If your managers are not properly trained to handle employee complaints and negative attitudes, they may quite literally turn annoying but manageable situations into federal cases.

Last Thursday, Governor Andrew M. Cuomo signed the Stop Hacks and Improve Electronic Data Security (“SHIELD”) Act, which amends New York’s current data breach notification law and places increased obligations on businesses that handle private data. With the SHIELD Act, New York joins the growing list of states that have adopted legislation to strengthen consumer privacy protections. Read More

La Cour de cassation, dans deux avis du 17 juillet 2019 (n°15012 et 15013), s’est prononcée favorablement sur la conformité du barème Macron aux textes internationaux, mettant ainsi un terme au débat suscité par plusieurs conseils de prud’hommes refusant d’en faire application. En savoir plus

In this C&G Client Alert, Melissa H Maxman, Ronald F Wick, Erica Lai, and Danielle Morello discuss the U.S. Department of Justice's (DOJ) announcement that it will now consider crediting companies for “robust” compliance programs at the charging stage of criminal antitrust investigations. This signals a reversal of the DOJ’s longstanding policy of allowing substantial penalty reductions only for “early-in” whistleblowers.

The law of insider trading has long been criticized as lacking clear standards for what constitutes a violation.  Unlike many aspects of federal securities regulations, insider trading is not defined by statute or regulation.  Instead, the contours of this complex area have for decades been drawn by shifting and sometimes conflicting judicial interpretations of the anti-fraud provisions of the Securities Exchange Act of 1934 and related rules.

In May, Congress took a big step toward clarifying this area of the law, when the Financial Services Committee of the U.S. House of Representatives unanimously approved the Insider Trading Prohibition Act.  If the bill becomes law, it would simplify an inherently complex area, but might also lead to regulators and prosecutors bringing more insider trading cases.

L’actualité sociale du premier semestre 2019 a été marquée par l’entrée en vigueur de l’index de l’égalité femmes-hommes ainsi que par l’adoption, le 11 avril dernier, de la loi (ou plan d’action) pour la « croissance et la transformation des entreprises » dite « loi Pacte ». Nous vous proposons, dans cette newsletter, d’analyser les principales mesures de ces nouveaux dispositifs, sans oublier notre revue de jurisprudence.

Lawrence T Gresser and Marvin J Lowenthal highlight the ways in which artificial intelligence may affect the law firms of the future in their most recent article for the New York Law Journal.  

C Evan Stewart examines the U.S. Supreme Court decisions in the Gold Clause cases of the 1930s in his latest Legal History column for the Federal Bar Council Quarterly.

Miriam González Durántez writes article for the Financial Times about the upcoming Spanish election.

Ronald F Wick discusses the implications of the Federal Trade Commission's plans to create a new task force focused on monitoring competition in U.S. technology markets in his latest C&G Client Alert. 

Miriam González and John W Gibson discuss the deal and no-deal implications for finance and sanctions following a “Brexit” in The Law Society Gazette.

John W Gibson and Miriam González Durántez discuss the parallels between the early enforcement of the Bribery Act 2010 and the UK Office of Financial Sanctions Implementation's first monetary penalty.

Miriam González Durántez and Jeffrey M Bronheim discuss current Brexit developments in their latest C&G Client Alert.