DS-Concept Factoring, Inc., a global commercial finance company, and a member of the EACC New York, specializing in international non-recourse factoring, has provided a $2.5 million export accounts receivable facility to an apparel distributor in California. The client, who provides licensed products to retailers and wholesalers in Canada, Europe, and South Africa, is rapidly expanding their global presence. “We’re excited to work with a well-established firm which has extensive knowledge in manufacturing and distribution,” states Brandyn Prust, Vice President of Sales. “It’s great to see...

Of critical importance for any financial institution using Twitter or other social media for business marketing and promoting purposes, the Federal Financial Institutions Examination Council (FFIEC) has issued final supervisory guidance titled “Social Media: Consumer Compliance Risk Management Guidance” (the “Guidance”). The FFIEC issued proposed guidance on the subject on January 23, 2013, and received 81 official comments on the proposal. Importantly, the Guidance does not impose any new requirements on financial institutions, but rather is intended to help financial...

In this three-part series of posts, we bring you a checklist of questions to help you tackle the challenge of website legal compliance.  Part 1 and Part 2 of this series are also available.. Do you have a privacy statement? In order to comply with the Data Protection Acts, your website must contain a privacy statement if you: collect personal data (for instance, where visitors fill in web forms, feedback forms, submit orders etc.); use cookies or web beacons; or otherwise collect personal data (for example, IP addresses,...

We focus on key considerations of corporate counsel in assisting clients to navigate through the growing proliferation of governance-related rules and regulations. Identification of the Client As a threshold matter, counsel must identify, and remain clear as to, the identity of its client, which may be the company or a subsidiary, the Board or Board committee, or one or more executives. The identity of the client will inform the scope of counsel’s advice, the ranking by counsel of key considerations within...

New York City lost a small piece of its soul this week as a result of a few noteworthy closings. The famed Bowlmor Lanes bowling alley near NYU was closed Monday night after a 76-year run. According to a report from the Daily News, the location is being converted into luxury condos. On Tuesday, New Yorkers abruptly learned that high-end cupcake maker Crumbs closed all locations, including several in New York. Investors' portfolios saw some losses of their own on Tuesday, as stocks were...

In 2007, litigation was initiated in the Court of International Trade (CIT) alleging that gender and age tariff rate disparities on identical or substantially similar products were discriminatory and unconstitutional. Cases were filed on behalf of numerous importers raising identical claims and a few test cases were selected (e.g.Totes-Isotoner Corp. v. United States, 569 F. Supp. 2d 1315 (2008) ("Totes")) and the rest of the cases were stayed pending the outcome of these cases . Unfortunately, the test cases were...

The Federal Financial Institutions Examination Council (FFIEC), under the leadership of its Chairman Thomas J. Curry, is increasingly focused on cybersecurity risks to financial institutions. At the end of June 2014, the FFIEC created a cybersecurity awareness Web page that assembles the key information about cybersecurity risks to financial institutions. Please note that of the six FFIEC members, the Consumer Financial Protection Bureau is now included as a voting member of the FFIEC, along with the other federal prudential...

In this three-part series of posts, we bring you a checklist of questions to help you tackle the challenge of website legal compliance. Are your terms and conditions of sale binding? It is imperative that online purchasers are bound by the terms and conditions of sale or engagement.  Simply making terms and conditions available by hyperlink may not be sufficient to incorporate the terms and conditions of sale into the purchase arrangements. It is generally recommended that purchasers should be required to...