Companies must address financial reporting problems fast – or face the wrath of an invigorated SEC. The number of enforcement actions taken against companies rose in 2015. Regulators are increasing their focus on internal controls and whether companies have sufficient programs in place to detect potential wrongdoing. The increase in activity may be attributed in large part to the greater number of tools that are available to the Securities and Exchange Commission (SEC). For example, the SEC has increased its...

On May 11, 2016, President Barack Obama signed into law the long-awaited Defend Trade Secrets Act of 2016 (DTSA), which is effective immediately. Three key features of the DTSA include: (1) the creation of a federal private right of action for trade secret misappropriation; (2) a provision permitting ex parte civil seizure of property necessary to prevent the propagation or dissemination of trade secrets; and (3) a requirement that employers provide notice to employees of their immunities under the...

Partners Gerhard Gispen and Christiaan Zijderveld and their team recently moved to Houthoff Buruma from Simmons & Simmons. Their appointment strengthens Houthoff Buruma's leading position in the field of insolvency and restructuring. First tier firm The Insolvency & Restructuring practice of Houthoff Buruma has been ranked as First Tier firm in the 2016 editions of Chambers Europe, Legal 500, and IFLR1000. Gerhard Gispen has extensive experience with cross-border insolvency cases. He advises creditors (banks, funds and credit insurers) and (national and foreign)...

Everyone has a “blind spot” while driving – but combined with visual impairments, driving is a daily activity that can put us in danger. As more and more people develop vision problems, driving poses an increasing risk to not only those drivers, but also to everyone else on the road. A study from the Netherlands indicates that impaired visual functions, including limited visual acuity, reduced field of vision, color blindness, reduced contrast sensitivity (depth perception), increased glare sensitivity and night-blindness,...

The rules and regulations of the Luxembourg Stock Exchange (LuxSE) govern the listing and admission of securities to trading on the LuxSE securities market, as well as the conditions for drawing up a prospectus. LuxSe recently published new rules which entered into force on January 1 2016 and replace the previous set of rules (dated January 2015). To learn more about resulting amendments, changes in procedures as well as the concerned parties, please read the full article. Compliments of NautaDutilh - A member of the...

Much has been written about Bitcoin since its creation in 2008 by Satoshi Nakamoto. Indeed, the high volatility of and scandal after scandal involving this new digital currency have been amply documented in the press. In recent months, however, the price of Bitcoin has stabilised at around 40% of its record high and appears to be rising.  One reason for this is the financial sector's interest in the technology underlying Bitcoin, namely the blockchain. This article first explains blockchains in...

Aeropostale announced it will be closing 154 stores in conjunction with its bankruptcy filing. We've created a list of CMBS loans that intersect with that list of closings (Aeropostale store closings touching CMBS). There are 36 loans for which a closing Aeropostale is part of the tenant base. The majority of the properties do not list Aeropostale as a top five tenant. Nine of the loans are either going through the foreclosure process, are already REO, or are 60 or more days...

The Toy Industry Association (TIA) announced the election of eight new members to the TIA Board of Directors for two-year terms of office expiring in 2018 during its Annual General Meeting held in Miami, Florida. The meeting also saw the chairmanship gavel pass to David Hargreaves of Hasbro, Inc. from retiring Board Chairman John Gessert of American Plastic Toys. Nominated to serve their first terms on the TIA Board were Kathleen Campisano, Vice President of Toys & Games, Barnes &...