Block

November 15, 2006 | New York Law Journal

Kenneth M. Block and Jeffrey B. Steiner, members of Brown Raysman Millstein Felder & Steiner, analyze a string of cases that establish the limits of RICO availability: a RICO claim will be available even to a "non-target" so long as the underlying fraudulent act intentionally increased the victim's risk of loss.

By Kenneth M. Block and Jeffrey B. Steiner

10 minute read

September 15, 2004 | New York Law Journal

Kenneth M. Block and Jeffrey Steiner, members of Brown Raysman Millstein Felder & Steiner, discuss a recent Second Circuit decision, which offers an opportunity to reexamine the provisions of Equal Credit Opportunity Act of 1974 and review the split in authority among the circuits in applying standards of proof to determine the presence of discriminatory lending practices.

By Kenneth M. Block and Jeffrey Steiner

12 minute read

May 23, 2001 | Law.com

Less than two weeks before his trial, shoe czar Steve Madden pled guilty to securities fraud and money-laundering charges brought by federal prosecutors in New York, and settled related civil charges filed by the Securities and Exchange Commission. He was indicted a year ago for his role in the manipulation of several initial public offerings, including that of his own company.

By Donna Block

5 minute read

October 11, 2005 | Law.com

The utility industry is about to undergo massive consolidation, now that the Public Utility Holding Company Act is history. That's the prediction of both those who loved and loathed PUHCA. Consumer advocates fear monopolies and higher energy costs. Even Standard & Poor's, the Wall Street credit rating agency, has said that PUHCA's abolition could encourage some speculators to purchase utilities to "lever them up and use the cash to invest in higher-risk, unrelated ventures."

By Donna Block

3 minute read

June 23, 2006 | Law.com

The U.S. Senate Energy and Natural Resources Committee has endorsed the nominations of Philip Moeller and Jon Wellinghoff to serve on the Federal Energy Regulatory Commission. Moeller, a Republican who currently serves as executive director of the Alliant Energy Corp.'s Washington office, has been nominated for the remainder of a five-year term expiring June 30, 2010, while Wellinghoff, a Democrat and Nevada attorney, would serve a term expiring June 30, 2008.

By Donna Block

4 minute read

November 03, 2005 | Law.com

After serving 25 years in Congress, Rep. Michael Oxley, chairman of the powerful House Financial Services Committee and an Ohio Republican, said Tuesday that he will not seek re-election in 2006. Oxley and Sen. Paul Sarbanes wrote 2002's landmark Sarbanes-Oxley Act. Oxley also played an influential role in the passage of financial services modernization legislation. His retirement plans will touch off a race among several prominent House lawmakers for the committee chairmanship.

By Donna Block

3 minute read

July 02, 2007 | Law.com

Pressure on the Securities and Exchange Commission to delay the internal control requirements of the Sarbanes-Oxley Act for most public companies was stepped up a notch late Thursday after the House of Representatives voted to extend small business exemption through 2008 with a 267-154 vote. SEC Chairman Christopher Cox has repeatedly said that a further delay in complying with the law was unnecessary in light of new guidance approved by the agency in May.

By Donna Block

4 minute read

July 19, 2006 | New York Law Journal

Kenneth M. Block and Jeffrey B. Steiner, members of Brown Raysman Millstein Felder & Steiner, review fundamental principles of third party liability in lending transactions and recent litigation involving claims of allegedly false representations and assurances made by borrowers' attorneys and accountants in opinion letters and financial statements that were relied upon by lenders.

By Kenneth M. Block and Jeffrey B. Steiner

12 minute read

December 12, 2005 | Law.com

Large and midsize public companies will see the high cost of complying with post-Enron Corp. internal financial control rules drop considerably during the current fiscal year, according to a study sponsored by the world's four biggest accounting firms. The study says the largest public companies will see compliance costs for §404 of the Sarbanes-Oxley Act of 2002 fall an average of 42 percent this year. However, some feel the Big Four figures are a bit overblown.

By Donna Block

4 minute read

July 13, 2006 | Corporate Counsel

On Tuesday, the Securities and Exchange Commission announced that it is moving ahead with its promised review of the Sarbanes-Oxley Act. The SEC issued a "concept release" that outlines its forthcoming guidance for corporate managers on assessing a firm's internal controls over financial reporting. The agency is also seeking feedback during the next 60 days on ideas to guide public companies in compliance. Critics say SOX's strict compliance measures are giving overseas financial markets an advantage.

By Donna Block

4 minute read