CompanyCounselor: September 2007 Archives

« August 2007 | Main | October 2007 »

Sep29	Washington State on Unemployment Linda Chan September 29, 2007 Know More: Benefits 2.0, Benefits The following is not meant to be legal advice. This year, Washington enacted a law that requires all employers that are subject to the state’s unemployment insurance to provide personal information regarding corporate officers and other persons who control the payment of unemployment tax contributions. The purpose of the law was to make sure that corporate officers and employees with significant ownership not be eligible to receive unemployment benefits. The registration requirement is also to assist Washington in imposing liability when a business dissolves. Upon dissolution of businesses, corporate officers and employees with significant ownership who control the payment of unemployment tax contributions can be held personally liable if they intentionally evade unemployment benefit obligations. Continue Reading Posted at 11:53 AM \| Permalink \| Comments
Sep29	IRA Accounts Linda Chan September 29, 2007 The following is not meant to be legal advice. When working at a broker-dealer, an attorney may need to know about IRA accounts. IRA questions may usually be answered by the IRS. There is a tax technician available at most... Continue Reading Posted at 11:21 AM \| Permalink \| Comments
Sep28	Jena, Louisiana Linda Chan September 28, 2007 There was buzz in September 2007 on a rally of thousands of people in Jena, Louisiana in regards to the 6 black young men who have been charged in the beating of a white young man. Jena is 85%... Continue Reading Posted at 10:55 PM \| Permalink \| Comments
	September 2007 Section 409A Update Linda Chan September 28, 2007 The following is not meant to be legal advice. On April 10, 2007, the Internal Revenue Service (IRS) issued final regulations under Section 409A of the Internal Revenue Code of 1986, as amended ("Section 409A"). The final regulations are scheduled... Continue Reading Posted at 9:51 PM \| Permalink \| Comments
	Minnesota on Debit or Credit Card Data Linda Chan September 28, 2007 The following is not meant to be legal advice. Companies with customers in Minnesota no longer should retain credit or debit card security data after the authorization of a transaction. The law on this matter went into effect on August... Continue Reading Posted at 9:49 PM \| Permalink \| Comments
	U-5 Full Terminations Linda Chan September 28, 2007 The following is not meant to be legal advice. In filling out a U-5 full termination for the NASD, a broker-dealer needs to make sure that it has its branch ID number. The branch codes are gathered from the billing... Continue Reading Posted at 9:19 PM \| Permalink \| Comments
Sep27	Gentry v. Superior Court (Circuit City Stores, Inc.) Linda Chan September 27, 2007 The following is not meant to be legal advice. The California Supreme Court in Gentry v. Superior Court answered the issue of whether class arbitration waivers in employment arbitration agreements are enforceable. The background facts: Gentry, a Circuit City... Continue Reading Posted at 11:47 PM \| Permalink \| Comments
	Green v. State of California Linda Chan September 27, 2007 The following is not meant to be legal advice. In August 2007, the California Supreme Court issued three decisions of interest to California employers. One of them, Green v. State of California, answered the issue on whether an employee alleging... Continue Reading Posted at 10:46 PM \| Permalink \| Comments
Sep25	United Auto Workers Linda Chan September 25, 2007 Thousands of United Auto Workers walked off the job at General Motors plants around the country this week in another buzz topic. It was the first nationwide strike against the U.S. auto industry since 1976. Was it the right thing... Continue Reading Posted at 9:19 PM \| Permalink \| Comments
Sep24	Prachasaisoradej v. Ralphs Grocery Company, Inc. Linda Chan September 24, 2007 The following is not meant to be legal advice. On August 23, 2007, in Prachasaisoradej v. Ralphs Grocery Company, Inc., the California Supreme Court held that an incentive compensation plan that allowed employees to share in profits, as calculated by subtracting... Continue Reading Posted at 4:06 PM \| Permalink \| Comments
	Securities Firms Linda Chan September 24, 2007 The following is not meant to be legal advice. For those working at securities firms or broker-dealers, they may be interested to know the following issues that a representative runs into in everyday situations: In advertising, there is detail in... Continue Reading Posted at 3:30 PM \| Permalink \| Comments
Sep23	U.S. Immigration and Customs Enforcement Linda Chan September 23, 2007 The following is not meant to be legal advice.On August 10, 2007, U.S. Immigration and Customs Enforcement (ICE) announced a rule requiring employers who receive a social security mismatch letter to take specific steps to resolve the mismatch within a... Continue Reading Posted at 9:55 PM \| Permalink \| Comments
Sep22	Bankruptcy Provision Linda Chan September 22, 2007 The following is not meant to be legal advice.In many contracts, the attorneys see standard language on being able to terminate an agreement if the other party files a bankruptcy petition or has difficulties with creditors. For example, termination in... Continue Reading Posted at 9:37 PM \| Permalink \| Comments
	PCI-Media Impact Linda Chan September 22, 2007 What is PCI-Media Impact? It is an organization that produces radio and tv programs in order to improve health, human rights, social change. It produces programs for international dissemination in order to tell the stories of culture, communities. For... Continue Reading Posted at 10:36 AM \| Permalink \| Comments
Sep21	Software Bug Linda Chan September 21, 2007 The following in not meant to be legal advice. If there is no non-disclosure agreement in a license agreement, and only a reliance on statute, there is no duty of confidentiality. This means if a defect such as a software... Continue Reading Posted at 9:10 PM \| Permalink \| Comments
	Wild Oats Markets, Inc. and Whole Foods Market, Inc. Linda Chan September 21, 2007 The following is not meant to be legal advice. Many may have heard about the Wild Oats Markets, Inc. and Whole Foods Market, Inc. acquisition from the press on the CEO who spent much time posting on financial message boards. However,... Continue Reading Posted at 8:34 PM \| Permalink \| Comments
Sep20	Failure to Disclose Defect Linda Chan September 20, 2007 The following is not meant to be legal advice. What is the liability for a company doing business in Europe for failing to disclose a hidden defect in a software product at the time of sale? In Europe,... Continue Reading Posted at 9:07 PM \| Permalink \| Comments
Sep16	Antitrust Liability Linda Chan September 16, 2007 The following is not meant to be legal advice. On September 4, 2007, several Courts of Appeal each decided antitrust cases relating to the limits of antitrust liability under Section 2 of the Sherman Act. Price-fixing and bid-rigging have constituted... Continue Reading Posted at 11:41 AM \| Permalink \| Comments
Sep13	Tax Free Rollovers Linda Chan September 13, 2007 On August 13, 2007, the United States Department of the Treasury issued regulations under Section 1045 of the Internal Revenue Code on which tax-free rollovers of gain from the sale of qualified small business stock ("QSBS") can be accomplished through... Continue Reading Posted at 9:42 PM \| Permalink \| Comments
	Harris v. Superior Court Linda Chan September 13, 2007 The following is not meant to be legal advice. On August 16, 2007, the California Court of Appeal decided on Harris v. Superior Court. The case was on the administrative exemption under California law. The case involved employees who were... Continue Reading Posted at 3:48 PM \| Permalink \| Comments
Sep12	Immigration and Customs Enforcement Linda Chan September 12, 2007 The following is not meant to be legal advice. The Department of Homeland Security’s Immigration and Customs Enforcement (ICE) agency published on August 31, 2007, a final rule to be effective on September 14, 2007 requiring employers who receive a... Continue Reading Posted at 10:33 AM \| Permalink \| Comments
	Insider Trading Scandals Linda Chan September 12, 2007 The following is not meant to be legal advice. In the 1980s, there were many reported insider trading scandals. The admired like Michael Milken and Ivan Boesky ended up in jail or fined for misbehaviors. The movie Wall Street popularized... Continue Reading Posted at 10:31 AM \| Permalink \| Comments
Sep11	Temporary Agent Transfer Linda Chan September 11, 2007 The following is not meant to be legal advice. Those working for a broker-dealer in compliance may be familiar with Temporary Agent Transfer (TAT). There is a minimum number of business days to TAT someone. It used to be... Continue Reading Posted at 10:29 AM \| Permalink \| Comments
Sep10	100 Fastest Growing Companies Linda Chan September 10, 2007 In early September 2007, CNNMoney.com’s Fortune Magazine named the 100 Fastest Growing Companies in the USA. How does a company get on the list and what determines fast growth? For attorneys who attend board meetings, they may already know... Continue Reading Posted at 6:37 PM \| Permalink \| Comments
Sep 8	How to Obtain U-5? Linda Chan September 8, 2007 The following is not meant to be legal advice. For a representative to obtain a U-5, he/she has to contact his/her prior broker-dealer or write a letter/fax to the NASD, attention to Quality Service. The representative will need to sign... Continue Reading Posted at 10:18 AM \| Permalink \| Comments
Sep 3	Workers’ Compensation Linda Chan September 3, 2007 The following is not meant to be legal advice.Can a witness be incriminated for testifying in a deposition in a workers’ compensation proceeding that he used unlawful substances in the past?A witness may be compelled to testify whether he used... Continue Reading Posted at 5:45 AM \| Permalink \| Comments
Sep 2	Konnects Linda Chan September 2, 2007 Konnects.com seems to be another LinkedIn. Its members are already sending invitations to people to connect. Law school alumni may start seeing these invitations in their alumni email lists. ... Continue Reading Posted at 9:07 PM \| Permalink \| Comments
	Country Music Linda Chan September 2, 2007 The buzz on August 30, 2007 was the country music. Reported from Nashville, TN, George Strait, who had 55 No. 1 singles in 2007 so far, was inducted to the Country Music Hall of Fame. For the entertainment attorney... Continue Reading Posted at 7:02 PM \| Permalink \| Comments

« August 2007 | Main | October 2007 »

Sep29	Washington State on Unemployment Linda Chan September 29, 2007 Know More: Benefits 2.0, Benefits The following is not meant to be legal advice. This year, Washington enacted a law that requires all employers that are subject to the state’s unemployment insurance to provide personal information regarding corporate officers and other persons who control the payment of unemployment tax contributions. The purpose of the law was to make sure that corporate officers and employees with significant ownership not be eligible to receive unemployment benefits. The registration requirement is also to assist Washington in imposing liability when a business dissolves. Upon dissolution of businesses, corporate officers and employees with significant ownership who control the payment of unemployment tax contributions can be held personally liable if they intentionally evade unemployment benefit obligations. Continue Reading Posted at 11:53 AM \| Permalink \| Comments
Sep29	IRA Accounts Linda Chan September 29, 2007 The following is not meant to be legal advice. When working at a broker-dealer, an attorney may need to know about IRA accounts. IRA questions may usually be answered by the IRS. There is a tax technician available at most... Continue Reading Posted at 11:21 AM \| Permalink \| Comments
Sep28	Jena, Louisiana Linda Chan September 28, 2007 There was buzz in September 2007 on a rally of thousands of people in Jena, Louisiana in regards to the 6 black young men who have been charged in the beating of a white young man. Jena is 85%... Continue Reading Posted at 10:55 PM \| Permalink \| Comments
	September 2007 Section 409A Update Linda Chan September 28, 2007 The following is not meant to be legal advice. On April 10, 2007, the Internal Revenue Service (IRS) issued final regulations under Section 409A of the Internal Revenue Code of 1986, as amended ("Section 409A"). The final regulations are scheduled... Continue Reading Posted at 9:51 PM \| Permalink \| Comments
	Minnesota on Debit or Credit Card Data Linda Chan September 28, 2007 The following is not meant to be legal advice. Companies with customers in Minnesota no longer should retain credit or debit card security data after the authorization of a transaction. The law on this matter went into effect on August... Continue Reading Posted at 9:49 PM \| Permalink \| Comments
	U-5 Full Terminations Linda Chan September 28, 2007 The following is not meant to be legal advice. In filling out a U-5 full termination for the NASD, a broker-dealer needs to make sure that it has its branch ID number. The branch codes are gathered from the billing... Continue Reading Posted at 9:19 PM \| Permalink \| Comments
Sep27	Gentry v. Superior Court (Circuit City Stores, Inc.) Linda Chan September 27, 2007 The following is not meant to be legal advice. The California Supreme Court in Gentry v. Superior Court answered the issue of whether class arbitration waivers in employment arbitration agreements are enforceable. The background facts: Gentry, a Circuit City... Continue Reading Posted at 11:47 PM \| Permalink \| Comments
	Green v. State of California Linda Chan September 27, 2007 The following is not meant to be legal advice. In August 2007, the California Supreme Court issued three decisions of interest to California employers. One of them, Green v. State of California, answered the issue on whether an employee alleging... Continue Reading Posted at 10:46 PM \| Permalink \| Comments
Sep25	United Auto Workers Linda Chan September 25, 2007 Thousands of United Auto Workers walked off the job at General Motors plants around the country this week in another buzz topic. It was the first nationwide strike against the U.S. auto industry since 1976. Was it the right thing... Continue Reading Posted at 9:19 PM \| Permalink \| Comments
Sep24	Prachasaisoradej v. Ralphs Grocery Company, Inc. Linda Chan September 24, 2007 The following is not meant to be legal advice. On August 23, 2007, in Prachasaisoradej v. Ralphs Grocery Company, Inc., the California Supreme Court held that an incentive compensation plan that allowed employees to share in profits, as calculated by subtracting... Continue Reading Posted at 4:06 PM \| Permalink \| Comments
	Securities Firms Linda Chan September 24, 2007 The following is not meant to be legal advice. For those working at securities firms or broker-dealers, they may be interested to know the following issues that a representative runs into in everyday situations: In advertising, there is detail in... Continue Reading Posted at 3:30 PM \| Permalink \| Comments
Sep23	U.S. Immigration and Customs Enforcement Linda Chan September 23, 2007 The following is not meant to be legal advice.On August 10, 2007, U.S. Immigration and Customs Enforcement (ICE) announced a rule requiring employers who receive a social security mismatch letter to take specific steps to resolve the mismatch within a... Continue Reading Posted at 9:55 PM \| Permalink \| Comments
Sep22	Bankruptcy Provision Linda Chan September 22, 2007 The following is not meant to be legal advice.In many contracts, the attorneys see standard language on being able to terminate an agreement if the other party files a bankruptcy petition or has difficulties with creditors. For example, termination in... Continue Reading Posted at 9:37 PM \| Permalink \| Comments
	PCI-Media Impact Linda Chan September 22, 2007 What is PCI-Media Impact? It is an organization that produces radio and tv programs in order to improve health, human rights, social change. It produces programs for international dissemination in order to tell the stories of culture, communities. For... Continue Reading Posted at 10:36 AM \| Permalink \| Comments
Sep21	Software Bug Linda Chan September 21, 2007 The following in not meant to be legal advice. If there is no non-disclosure agreement in a license agreement, and only a reliance on statute, there is no duty of confidentiality. This means if a defect such as a software... Continue Reading Posted at 9:10 PM \| Permalink \| Comments
	Wild Oats Markets, Inc. and Whole Foods Market, Inc. Linda Chan September 21, 2007 The following is not meant to be legal advice. Many may have heard about the Wild Oats Markets, Inc. and Whole Foods Market, Inc. acquisition from the press on the CEO who spent much time posting on financial message boards. However,... Continue Reading Posted at 8:34 PM \| Permalink \| Comments
Sep20	Failure to Disclose Defect Linda Chan September 20, 2007 The following is not meant to be legal advice. What is the liability for a company doing business in Europe for failing to disclose a hidden defect in a software product at the time of sale? In Europe,... Continue Reading Posted at 9:07 PM \| Permalink \| Comments
Sep16	Antitrust Liability Linda Chan September 16, 2007 The following is not meant to be legal advice. On September 4, 2007, several Courts of Appeal each decided antitrust cases relating to the limits of antitrust liability under Section 2 of the Sherman Act. Price-fixing and bid-rigging have constituted... Continue Reading Posted at 11:41 AM \| Permalink \| Comments
Sep13	Tax Free Rollovers Linda Chan September 13, 2007 On August 13, 2007, the United States Department of the Treasury issued regulations under Section 1045 of the Internal Revenue Code on which tax-free rollovers of gain from the sale of qualified small business stock ("QSBS") can be accomplished through... Continue Reading Posted at 9:42 PM \| Permalink \| Comments
	Harris v. Superior Court Linda Chan September 13, 2007 The following is not meant to be legal advice. On August 16, 2007, the California Court of Appeal decided on Harris v. Superior Court. The case was on the administrative exemption under California law. The case involved employees who were... Continue Reading Posted at 3:48 PM \| Permalink \| Comments
Sep12	Immigration and Customs Enforcement Linda Chan September 12, 2007 The following is not meant to be legal advice. The Department of Homeland Security’s Immigration and Customs Enforcement (ICE) agency published on August 31, 2007, a final rule to be effective on September 14, 2007 requiring employers who receive a... Continue Reading Posted at 10:33 AM \| Permalink \| Comments
	Insider Trading Scandals Linda Chan September 12, 2007 The following is not meant to be legal advice. In the 1980s, there were many reported insider trading scandals. The admired like Michael Milken and Ivan Boesky ended up in jail or fined for misbehaviors. The movie Wall Street popularized... Continue Reading Posted at 10:31 AM \| Permalink \| Comments
Sep11	Temporary Agent Transfer Linda Chan September 11, 2007 The following is not meant to be legal advice. Those working for a broker-dealer in compliance may be familiar with Temporary Agent Transfer (TAT). There is a minimum number of business days to TAT someone. It used to be... Continue Reading Posted at 10:29 AM \| Permalink \| Comments
Sep10	100 Fastest Growing Companies Linda Chan September 10, 2007 In early September 2007, CNNMoney.com’s Fortune Magazine named the 100 Fastest Growing Companies in the USA. How does a company get on the list and what determines fast growth? For attorneys who attend board meetings, they may already know... Continue Reading Posted at 6:37 PM \| Permalink \| Comments
Sep 8	How to Obtain U-5? Linda Chan September 8, 2007 The following is not meant to be legal advice. For a representative to obtain a U-5, he/she has to contact his/her prior broker-dealer or write a letter/fax to the NASD, attention to Quality Service. The representative will need to sign... Continue Reading Posted at 10:18 AM \| Permalink \| Comments
Sep 3	Workers’ Compensation Linda Chan September 3, 2007 The following is not meant to be legal advice.Can a witness be incriminated for testifying in a deposition in a workers’ compensation proceeding that he used unlawful substances in the past?A witness may be compelled to testify whether he used... Continue Reading Posted at 5:45 AM \| Permalink \| Comments
Sep 2	Konnects Linda Chan September 2, 2007 Konnects.com seems to be another LinkedIn. Its members are already sending invitations to people to connect. Law school alumni may start seeing these invitations in their alumni email lists. ... Continue Reading Posted at 9:07 PM \| Permalink \| Comments
	Country Music Linda Chan September 2, 2007 The buzz on August 30, 2007 was the country music. Reported from Nashville, TN, George Strait, who had 55 No. 1 singles in 2007 so far, was inducted to the Country Music Hall of Fame. For the entertainment attorney... Continue Reading Posted at 7:02 PM \| Permalink \| Comments

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