Category Archives: Banking and Finance law

Banking and Finance Law news articles, reiews, notes and blog examples.

Medical Device Manufacturing: Capital Intensity

This is the seventh in a multi-part series that will focus on the capital intensity in the medical device manufacturing industry, a member of the manufacturing sector. Capital Intensity Roughly $0.08 is invested in capital improvements for every $1.00 the average medical device manufacturing company spends on labor[1]. Many specialized products require hands-on work and cannot be furnished through an automated assembly line. Highly paid skilled specialists research, assemble and create medical devices. Wages account for roughly 20.6% of revenue while depreciation accounts for 1.6%. The level of technology change is high as companies seek to rapidly develop new products and adapt to technological changes. This can be attributed to the fact that 12% of market revenue is directed towards research and development. Industry players seek to incorporate non-industry technological advances into production processes. Technological advantages are protected fiercely by patents and can be….. To continue reading this legal news please click Read full information...

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SEC’s Chief Accountant Discusses Digital Assets

Recently, in a wide-ranging speech, the SEC’s Chief Accountant, Wes Bricker, provided his thoughts on how the SEC accounting staff analyzes accounting issues surrounding digital assets and distributed ledger technology. Bricker emphasized that companies must continue to maintain appropriate books and records, irrespective of whether distributed ledger technology, smart contracts or other technology-driven applications are (or are not) used. Likewise, when accounting for digital assets, companies should act appropriately within the parameters of the existing requirements of the federal securities laws. Accordingly, they should consider traditional regulations and accounting standards such as those relating to books and records, internal accounting controls, internal control over financial reporting, and custody. Bricker emphasized that “[d]istributed ledger technology and digital assets, despite their exciting possibilities, do not alter this fundamental….. To continue reading this legal news please click Read full information...

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California Near to Enacting Nation’s First Commercial Finance Disclosure Law

In the final days of its 2018 session, the California legislature sent a flurry of bills to Governor Jerry Brown’s desk on topics as diverse as net neutrality, school start times, and clean energy. But it is SB 1235, “Commercial financing; disclosures,” that may be of particular note for commercial lenders.  The bill is designed to give small busine… Read the rest.. To continue reading this legal news please click Read full information...

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Commissioner Peirce urges ‘humility’ in response regulatory response to cryptocurrency

By Amy Leisinger, J.D. Seeming to embrace the new moniker of “CryptoMom,” SEC Commissioner Hester Peirce told attendees of the Cato Institute’s FinTech Unbound Conference that she would likely be a “free-range” mother that would encourage a child to learn and explore with limited supervision. This approach requires acceptance of a certain level of risk, she acknowledged, but achievements are often only possible with a certain level of risk-taking. Citing her recent dissents from decisions to block exchange-traded products designed to give investors access to bitcoin, Peirce noted that the capital markets are all about risks and suggested that the SEC “helicopters in with good intentions, but often without sufficient concern for the way its blades roil the markets, frustrate innovation, and potentially expose investors to greater risks.” Investors should have access to a wide variety of investment options and be able to evaluate risks….. To continue reading this legal news please click Read full information...

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Receiver Awarded $2.4 Million Bonus For 110% Recovery

There has never been a case like this one in all the years and in all the cases over which this Court has presided…In what appears to the Court to be the first of its kind, the investors have received not only all the monies they invested in the Ponzi scheme but have received substantial monies above and beyond their initial investments. All due largely to the extraordinary achievements of the Receiver that many of them now seek to vilify. -U.S. District Judge Christopher A. Boyko Receiver Mark DottoreIn a fitting end to an SEC enforcement action filed back in 2006, a federal judge agreed that a court-appointed receiver was entitled to a $2.4 million bonus for his "singularly remarkable and unheard of accomplishment" in recovering enough funds to pay victims over 110% of their losses – a feat that is likely unparalleled and especially extraordinary considering the average Ponzi scheme recovery has been estimated at pennies on the dollar.  Over the….. To continue reading this legal news please click Read full information...

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