Business

What China’s New National Security Law Means for the Special Trade Relationship between the U.S. and Hong Kong

By: Arya Koneru

Hong Kong Skyline

Hong Kong Skyline

 

Hong Kong offers several international trade benefits that elevated the city to a prosperous financial and commercial hub. Over 1,300 American companies operate in Hong Kong, with more than 800 having a central office in the city. Companies are attracted to Hong Kong for a multitude of reasons, all stemming from its semiautonomous system of governance.

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A Tug of War Over Record Books: How a Coffee Shop Scandal Could End a Decade-Long Deadlock Between the SEC and Chinese Regulators

By: Haodi Dong

Wikimedia Commons

Wikimedia Commons

In 2002, Congress passed the Sarbanes-Oxley Act (“SOX”), setting a series of new regulations and penalties for all U.S. public companies. SOX aimed to protect investors from fraudulent financial activities by requiring companies to certify the accuracy of their financial information. Specifically, Title I of SOX established the Public Company Accounting Oversight Board (“PCAOB”) under the Securities and Exchange Commission (“SEC”). The PCAOB “oversee[s] the audit of public companies . . . ; establish[s] audit report standards and rules; and inspect[s], investigate[s], and enforce[s] compliance . . . of registered public accounting firms.”  Continue reading »

Pandemic Playbook: What Games Without Fans Means for Financing Football

By: Ashley Willard

https://pixabay.com/photos/stadium-rows-of-seats-grandstand-2921657/

https://pixabay.com/photos/stadium-rows-of-seats-grandstand-2921657/

In March, after a long year of negotiations with the NFL, the NFL Players Association (“NFLPA”) ratified the 2020 Collective Bargaining Agreement (“CBA”), which governs through 2030. Neither side could have anticipated that a pandemic would ravage the country and potentially bring them back to the bargaining table just months later. Since the NFL does not have a “force majeure” clause in its CBA that could terminate the season, the show must go on. However, the NFL and the NFLPA will need to work together to address both safety issues and the looming prospect of a shrinking salary cap in 2021. Continue reading »

Unions are Disappearing. Do We Care?

By: Hannah Weiss

http://www.nlrb.gov/nlrb/legal/manuals/CHM1/2009/CHM1.pdf

http://www.nlrb.gov/nlrb/legal/manuals/CHM1/2009/CHM1.pdf

 

Unionization is declining.

A recent report from the Brookings Institute demonstrates that membership in US labor unions has declined since the middle of the twentieth century.  Union membership was at its highest in the 1940s and 1950s when almost thirty-five percent of workers belonged to unions.  Unionization has declined most in the private sector, with only a little over six percent of private-sector workers belonging to unions in 2018.  In contrast, membership in public-sector unions has consistently been about one-third of employees since the 1970s.

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Who’s Afraid of TikTok?

By: Hannah Weiss

TikTok

TikTok.com

 

US officials are conducting a national security review of TikTok, a popular app that allows users to share short videos and video clips.  This is part of a growing trend of high-profile transactions being reviewed for national security conflicts as foreign companies seeking to invest in the United States are facing increasing scrutiny.   Evincing this, in 2018, President Trump signed off on the Foreign Investment Risk Review Modernization Act (FIRRMA). Continue reading »

More Conflict than Interest? How the SEC’s New Conflict-Of-Interest Rules May Mislead Retiring Investors.

By: Nathaniel Reiff

What may seem as a virtuous undertaking by the U.S. Securities Exchange Commission (“SEC”) to protect the nation’s aging population, is receiving a significant amount of backlash from some of the nation’s most influential advocacy groups. Continue reading »

Paying Back Stolen Money Isn’t Fair?

By: Hannah Weiss

https://www.flickr.com/photos/us_sec/46296136224

https://www.flickr.com/photos/us_sec/46296136224

The Supreme Court recently granted certiorari to determine whether US courts, under their equitable powers, can require people convicted of securities law violations to disgorge their ill-gotten profits.  The answer to this question could have a significant effect on the Security and Exchange Commission’s (SEC’s) mechanisms for enforcing securities laws.  The question is the central issue in Liu v. SEC and has remained unanswered since the Court’s 2017 ruling in Kokesh v. SEC. Continue reading »

Symposium Feature Story: Balling on a Budget and Assessing the Federal Government’s Potential Role in Regulating College Athletics’ Compensation

By: Nathaniel Reiff

NCAA

The “eternal conflict” of athletic departments fostering a for-profit business model while adhering to the nonprofit educational mission of the NCAA and its umbrella of public universities has captured the interest of both federal and state lawmakers.

Up to 30 states are considering proposals that would lay the foundation for student-athlete compensation. This initiative comes after California passed a law in 2019 that would allow NCAA players in the state to make endorsements or bid merchandise without jeopardizing their scholarships or eligibility.

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Symposium Spotlight: Michael Grace Jr.

By: Olivia Bane

GraceMichaelA

Michael Grace Jr. will moderate the Athletes as Employees: Analyzing the Business Implications of the “Pay-for-Play” Model panel at the Wake Forest Journal of Business & Intellectual Property Law’s Spring 2020 symposium. Michael’s practice focuses on business and finance, securities, and mergers and acquisitions. He is a first-year associate in Kilpatrick Townsend & Stockton’s Winston-Salem office. Prior to joining Kilpatrick Townsend, Michael spent several years as legal counsel at the Supreme Court of North Carolina, where he provided legal support to the Honorable Chief Justice Mark Martin in his role as head of the North Carolina Judicial Branch. Previously, Mr. Grace served as a Judicial Law Clerk for Chief Justice Martin.

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Symposium Spotlight: Shelia Huggins

By: Olivia Bane

 

Shelia Huggins 2

Shelia Huggins is a solo practitioner, law professor, North Carolina representative for the Democratic National Committee, and social media personality. Shelia’s firm, Shelia Huggins, PLLC, focuses on business, contracts, sports, media, internet, employment, and entertainment law. Shelia teaches an Entertainment and Business Law course as an adjunct professor at North Carolina Central School of Law. For nearly nine years, Shelia also worked for the city of Durham, where she was involved in the programming of citywide events and projects supporting neighborhood revitalization efforts and economic development.

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