Block.

October 04, 2007 | Law.com

The Securities and Exchange Commission will soon lose its remaining Democratic commissioner, Annette Nazareth, who on Tuesday announced her intention to leave the agency and return to the private sector. The announcement follows the departure of fellow Democrat Roel Campos last month. With the departures of the two Democrats, the SEC's rule-making and enforcement actions could get complicated, especially on divisive issues such as the agency's proxy access proposals.

By Donna Block

3 minute read

April 03, 2006 | Law.com

With higher electricity rates looming, the Maryland legislature voted Thursday to delay the planned $11.4 billion merger of Constellation Energy Group Inc. and FPL Group Inc. until a special counsel reviews the deal. The legislature's move is an effort to force Constellation to reduce rates for its more than 1 million Baltimore Gas & Electric Co. customers, who are looking at an average increase of 72 percent when price caps expire July 1.

By Donna Block

3 minute read

January 21, 2005 | Law.com

In the wake of high-profile cases filed against Wall Street brokerage firms, employers in the financial industry are particularly vulnerable to allegations of sexual harassment and gender discrimination. Attorneys Richard H. Block and M. Alexis Pennotti examine why financial institutions have been the target of such suits, the implications that recent cases have for financial employers, and the preventative steps that employers can take to reduce their liability.

By Richard H. Block and M. Alexis Pennotti

10 minute read

June 08, 2006 | Law.com

Maryland's General Assembly will hold a special session to deal with a whopping electricity rate hike that Baltimore Gas and Electric customers are due to get in three weeks. The session will likely determine the fate of FPL Group's proposed acquisition of Constellation Energy Group. Without the merger, officials would have had little leverage to weigh in on the rate hike, but the need for state approval of the proposed union between Constellation and Florida-based FPL has created a political firestorm.

By Donna Block

5 minute read

June 15, 2011 | New York Law Journal

In their Construction Law column, Kenneth M. Block and John-Patrick Curran, members of Tannenbaum Helpern Syracuse & Hirschtritt, write that the American Institute of Architects publishes a multitude of contract forms for use on construction projects, and while the AIA attempts to achieve a balance among the interests of owners, architects and contractors, there is a natural bias in favor of architects, which may also redound to the benefit of contractors.

By Kenneth M. Block and John-Patrick Curran

9 minute read

August 11, 2006 | Law.com

As more companies list on foreign exchanges to escape the heavy regulatory hand of SOX, the SEC is considering postponing some deadlines small and foreign companies face for establishing strict internal controls over their financial reporting. The SEC proposal Wednesday came just one day after the London Stock Exchange released figures at its annual meeting showing that it attracted 50 international companies from 15 countries during the first six months of this year and raised $8.6 billion between them.

By Donna Block

4 minute read

April 22, 2004 | Law.com

The Financial Accounting Standards Board's proposal requiring companies to expense stock options found some much-needed support on Capitol Hill on Tuesday. Sen. Peter Fitzgerald, chairman of the governmental affairs financial management subcommittee, applauded the plan and vowed to fight any legislative effort to block it. "Congressional interference in 1993 resulted in disastrous consequences," Fitzgerald said at a hearing on the FASB proposal.

By Donna Block

3 minute read

December 02, 2005 | Law.com

William McDonough, the first chairman of the audit industry's federal watchdog, stepped down from the Public Company Accounting Oversight Board Wednesday, acknowledging that his agency still has a way to go before it can accurately gauge the effectiveness of public companies' internal controls. A PCAOB report issued the same day found that in 2004 some audits of public companies' internal controls were not as effective or efficient as expected, but that many of the problems can be corrected with experience.

By Donna Block

3 minute read

July 20, 2005 | New York Law Journal

Kenneth M. Block and Jeffrey B. Steiner, members of Brown Raysman Millstein Felder & Steiner, write that construction lenders generally require borrowers on major projects to obtain performance bonds from their contractors. For the past several years, however, an alternative to performance bonds has been available in the form of contractor default insurance, marketed under the name "Subguard" by Zurich North America Insurance Company.

By Kenneth M. Block and Jeffrey B. Steiner

8 minute read

March 13, 2006 | Law.com

With the 2006 hurricane season fast-approaching, Maryland lawmakers are worried they could be setting up their constituents for huge clean-up costs and rate increases if they approve the $11.5 billion acquisition of Constellation Energy Group, the state's primary utility, by Florida Power & Light. The deal is the first major merger announced since the repeal of the Public Utility Holding Company Act. Its review is expected to set precedents for what is acceptable for consolidating companies.

By Donna Block

6 minute read