Yesterday's post centered on how important it is for U.S. companies to keep tabs on their foreign subsidiaries. Well, the Conglomerate blog has an excellent post on the increase of foreign subsidiaries that have entered guilty pleas with the U.S. government for misconduct that took place after the financial crisis. What's interesting about the rise in foreign subsidiaries … [Read more...]
Hey U.S. Corporations–Don't Neglect Your Foreign Subsidiaries!
I recently received an email from a board member of a corporation concerned that one of the company’s foreign subsidiaries was having compliance issues. I immediately interrupted and asked if there were any local bodies on the ground at the company’s foreign subsidiary. I wasn't exactly surprised to learn that there were not. In fact, no one from the U.S. office had visited … [Read more...]
Clean Energy Cases Are Heating Up the World Trade Organization.
I'll be heading to Washington, D.C. next week to meet with White House officials and members of Congress to discuss the President's clean energy agenda. So it's no surprise that I’m a big advocate of the global clean energy industry, which last year alone generated almost $269 Billion in international business. In somewhat of a tribute to the growing importance of clean … [Read more...]
SEC Takes Immediate Action in Freezing OffShore Accounts Tied to Heinz Insider-Trading.
Yesterday it was announced that Warren Buffet’s Berkshire Hathaway partnered with Brazilian equity fund 3G to purchase iconic American ketchup maker Heinz in a blockbuster $23 Billion deal. Just a day after the deal, the SEC obtained an emergency court order to freeze assets in a Zurich, Switzerland-based trading account that was used to reap more than $1.7 million from … [Read more...]
International Lawyers Get Green Light to Serve as In-House Counsel in the U.S.
It’s about time the American Bar Association recognized that the globalization of law is a “trend” that’s here to stay. I say this because the ABA House of Delegates just passed a resolution that would allow foreign attorneys to work in the U.S. as in-house counsel. The fact is that seven states already allow international attorneys to work as in-house lawyers in the U.S. … [Read more...]