The long-awaited judgment of the General Court (GC) in the pay-TV saga (case AT.40023 Cross-border access to pay-TV) has finally been delivered, two years after the annulment action was brought.

On 10 December 2018, the Court of Justice of the European Union (“CJEU”) issued a judgment, ruling that a Member State can unilaterally revoke its notice to leave the European Union under Article 50 of the Treaty on European Union. The court ruled that both a unilateral and consensual revocation are permitted.

Sandra Bang, our firm’s Chief Diversity & Talent Strategy Officer, was interviewed in Law.com’s Legal Speak podcast.

A senior executive of a public company has agreed to pay $609,810 in civil penalties for acquiring additional voting securities in the company without first making a Hart-Scott-Rodino Act filing and observing the statutory waiting period.

Partner Lona Nallengara (New York-Capital Markets) was quoted in a Mergermarket report titled “Year 3 of the SEC Under President Trump.” The report discusses the challenges the SEC will likely focus on in 2019, especially regarding corporate governance and financial disclosure. It was published in December 2018.

On November 26, 2018, the Treasury Department and the Internal Revenue Service issued highly-anticipated regulations regarding the new section 163(j) limitation on business interest deductions.

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) recently released a Risk Alert highlighting common issues of compliance with Rule 206(4)-3 under the U.S. Investment Advisers Act of 1940, as amended, otherwise known as the “Cash Solicitation Rule” (the “Rule”).   The Rule provides that investment advisers registered under the Advisers Act (or required to be registered) cannot pay a cash fee to any person who solicits clients for the adviser unless several conditions are met.

In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates.

Counsel Andrew “Buddy” Donohue authored an article in Law360 titled “Winklevoss Ruling Highlights Subjective Aspects of SEC Mission.” It was published in November 2018.