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The Scarlet Insider

The Center for Corporate Law and Governance is excited to announce the launch of The Scarlet Insider, a blog where students and guest bloggers will post periodic entries on business law issues.

A Career in Corporate Law Involves More than Corporations

Bruce A. Ortwine

Introduction: Corporate law means so many things that the term can be confusing to the uninitiated (as well as to the initiated). The following is intended to alleviate some of this confusion. It is based on my own personal experience as a “corporate lawyer.” Others surely have had experiences that would include many other aspects of corporate law that I have not experienced and that would further demonstrate the vast scope of this field of the law.

  1. Entities that Fall within the Spectrum of Corporate Law: I have personally dealt with the following types of legal entities that fall within the spectrum of corporate law:

–corporations read more

April 28, 2017 With Comments are closed

The Uncertain Future of Internet Service Provider Regulation

By: Richard Cogan

During the final weeks of the Obama Administration, outgoing Federal Communications Commission (“FCC”) Chairman Tom Wheeler[1] adopted a major internet privacy rule[2] mandating greater privacy protection of consumer data by Internet Service Providers (“ISPs”).  The most significant provision of this regulation is the Opt-In provision (the “ISP Privacy Rule”), which requires consumers to provide informed consent before ISPs can collect and use contextual user data for advertising and other purposes . Another major provision  (the “ISP Security Rule”) was scheduled to go into effect March 3rd and required ISPs to take “reasonable steps” to protect customer’s proprietary information from unauthorized use, disclosure, or access. read more

April 3, 2017 With Comments are closed

Cyberattacks: The Retail Industry’s Greatest Threat in the Digital Age

By:  Andres F. Puerta

Over the last few years, numerous retailers, including Wal-Mart, Target, The Home Depot, and Neiman Marcus have been victims of major cyberattacks.[1] In 2009, hackers broke into Wal-Mart’s computer system and stole information from cash registers, though the company did not release exactly what information the hackers stole.[2] During the 2013 holiday season, Target experienced a cyberattack that resulted in hackers accessing personal information for about 110 million consumers.[3] In 2014, The Home Depot endured five months of undetected cyberattacks, resulting in the theft of over sixty million credit card numbers of its patrons.[4] Also in 2014, although hackers set off 60,000 security alerts that should have notified Neiman Marcus of questionable activity, staff members paid little attention, enabling the theft of customer credit card records for eight months.[5] read more

March 22, 2017 With Comments are closed

Blockchain Emerging as a New Vehicle for Securities

By: Daniel Selznick

Earlier this month, NPR’s Planet Money podcast released an episode titled “Blockchain Gang,” about bitcoin pioneer Charlie Shrem. Shrem was sentenced to prison in December 2014 for his indirect involvement in the infamous, Silk Road, a massive online bitcoin exchange used largely for anonymous illegal transactions. The podcast did not focus, however, on Shrem’s sentence (two years for aiding and abetting an unlicensed money transmitting business) but rather on the potential applications of “blockchain,” a major technology underlying bitcoin. read more

March 15, 2017 With Comments are closed

The Trump Effect on Businesses – What You Need to Know

By: Yian Pan

The Trump Effect on Businesses – What You Need to Know

Donald John Trump was sworn in on January 20, 2017 as the 45th President of the United States and the only president who has neither had any political experience nor any military experience. [1] Regardless of political views, this administration will undoubtedly bring about drastic changes in this country. This post will focus on some of the potential changes and the effects the new administration will have on corporations and businesses, including Trump’s proposed corporate tax plan, his trade war, Dodd-Frank reforms and future prosecutions of corporate crime. read more

March 7, 2017 With Comments are closed

Organizational Compliance Failures Quickly Become a Legal Problem Part Two

By: Bruce A. Ortwine

Reasons for the Occurrence of Compliance Framework Deficiencies: Compliance framework deficiencies can occur for many different reasons, including in extreme situations because an organization is fundamentally “rogue” in nature (examples include Enron Corporation, and Bernie Madoff’s and Alan Stanford’s organizations) or, more typically, that an organization is legitimate in its business operations but has fundamental failures in its corporate governance and oversight functions. Failure by the organization’s board of directors or other governing body and its senior management in ensuring that the organization develop and maintain an effective compliance framework has all-too-often been the primary reason for an organization’s compliance failures and resulting enforcement action. read more

March 1, 2017 With Comments are closed