| Enhanced Antitrust Criminal Penalty and Leniency Provisions |
| |
| The Antitrust Criminal Penalty Enhancement and Reform Act of 2004, signed into law on June 22, 2004, as part of H.R. 1086, increased penalties for violations of the Sherman Act while increasing incentives for participation in the leniency program of the U.S. Department of Justice. More... |
| |
| Degree of Culpability |
| |
| Typically, directors who conduct the corporation's business must exercise the care that an ordinary prudent person would exercise in the management of his or her own affairs under similar circumstances. This "ordinary" standard of care has been adopted by a majority of states and enacted in their corporation statutes. However, courts consistently interpret the culpability standard for the duty of care as one of gross negligence.More... |
| |
| Investment Adviser Reporting Requirements |
| |
| Investment advisers must file Form ADV with the Securities and Exchange Commission or with state offices for regulating securities. Investment advisers who manage $25 million or more in client assets must file the form and register with the Securities and Exchange Commission. Advisers managing smaller amounts of assets must file Form ADV with state securities regulators.More... |
| |
| Monopolization Under the Sherman Act |
| |
| Section 2 of the Sherman Act, 15 U.S.C.S. § 2, prohibits monopolies and attempts or conspiracies to monopolize. The statute provides for prison terms and fines in actions brought by the U.S. Department Justice and for injunctions and damages in civil actions brought by the Department of Justice, states, and private parties. More... |
| |
| Formation and Operation of a Nonprofit Corporation |
| |
| Nonprofit corporations are a useful tool for organizing for charitable, educational, religious, literary, or scientific purposes while reducing the risk of individual liability in accomplishing those goals. A nonprofit corporation is often referred to as a 501(c)(3) corporation due to the tax code provision under which most nonprofit corporations are considered exempt from federal taxation.More... |
| |
