On February 8, 2015, the New York Department of Financial Services (DFS) issued its Report on Cyber Security in the Insurance Sector and announced measures to test New York-licensed insurers for the adequacy of their cyber security preparedness. (DFS's press release, which contains a link to the report, is available here.) These materials have taken on heightened significance since disclosures earlier this month by leading health insurer Anthem of a major data breach, a development mentioned in the report...

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In what appears to be the first formal SEC action arising out of the SEC's recent liquid alt scrutiny and heightened focus on alternative mutual fund managers, the SEC sanctioned an investment adviser to several alternative mutual funds for causing the funds to violate several rules under the Investment Company Act of 1940, primarily for maintaining the funds' cash collateral for swap transactions at broker-dealer counterparties instead of at the funds' custodians. The adviser specialized in event-driven strategies, including merger-arbitrage, through...

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12 February 2015 Contacts and connections are a key asset for many businesses, particularly those in the B2B space. However, disputes often arise as to whether or not the connections are ‘owned’ by the employee or the employer. This issue often comes to the fore in cases where a senior (and often well-connected) employee moves jobs and seek to leverage their existing rolodex to compete with their former employer. Despite the importance of this issue, there is not much case...

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EACCNY member Goldberg Segalla is pleased to announce Sandra M. McDermott has joined the law firm as a partner in its Global Insurance Services Practice Group. Sandy adds more than two decades of experience to this transatlantic team, strengthening Goldberg Segalla’s capabilities to guide clients through intricate regulatory issues and handle major domestic and cross-border transactions, including mergers and acquisitions. Sandy has 25 years of experience handling complex and high-value regulatory, corporate, and transactional matters for insurance companies, agents, brokers,...

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According to a report from the New York Post's Steve Cuozzo on Tuesday, two of Rupert Murdoch's entities are mulling a move from Manhattan's Sixth Avenue corridor. The story notes that News Corp and 21st Century Fox are looking at their options well in advance of their 2020 lease expirations. For CMBS investors, the loan to watch is 1211 Avenue of the Americas, one of two large Sixth Avenue towers in which Murdoch companies reside. The other is 1185 Sixth Avenue, which was once...

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Menaker & Herrmann LLP is pleased to announce that Wojciech Jackowski, has become a partner of the Firm, effective January 1, 2015. Wojciech was previously an associate at M&H. The Firm, which was established in 1983, now has eight partners. Wojciech’s practice focuses on commercial and corporate dispute resolution. In addition to appearing in federal and state courts and before arbitration panels and administrative panels domestically, Wojciech has experience in international aspects of litigation. He has represented entities and individuals in...

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Kramer Levin, EACCNY member, is pleased to announce that Daniel B. Goldman has joined Kramer Levin's Litigation Department. Mr. Goldman has substantial experience litigating high-stakes disputes throughout the country and regularly handles multimillion-dollar securities, antitrust, merger and contract cases. He was previously a partner at Paul Hastings. He has tried to verdict numerous cases, both jury and non-jury, and arbitrations in jurisdictions such as California, Texas, Delaware, Washington, D.C., and New York. He also has significant experience in the area of judgment enforcement. Mr....

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