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April 27, 2016, Covington Alert
In late April 2016, federal financial regulators began the process of re-proposing rules (the “Proposal”) to implement restrictions on incentive-based compensation required by Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). Section 956 directs a number of federal regulators (the “Agencies”) to jointly issue regulations or guidelines with respect to incentive-based compensation practices at specific types of financial institutions that have $1 billion or more in assets.
The Proposal comes more than five years after the Agencies initially proposed rules to implement Section 956 (the “2011 Proposal”). In addition to refining the 2011 Proposal, the Proposal incorporates and expands upon principles relating to incentive compensation set forth in the federal banking agencies’ 2010 interagency guidance implementing safety and soundness standards under Section 39 of the Federal Deposit Insurance Act (the “2010 Guidance”).
January 30, 2017
WASHINGTON—Covington represented India-based Piramal Enterprises and its wholly owned Critical Care subsidiary in the UK in its agreement to acquire a portfolio of intrathecal spasticity and pain management drugs from Mallinckrodt LLC.
The purchase price was $171 million, plus an earn-out of up to an additional $32 million. This is the third acquisition that ...
September 2016, The Banking Law Journal
August 27, 2012
WASHINGTON, DC, August 27, 2012 — Covington & Burling LLP lawyers received 196 individual mentions in 57 areas of law in the 2013 edition of The Best Lawyers in America. This annual compilation of top U.S. lawyers is based on peer-review surveys and is used as a referral guide in the legal profession.
The Covington lawyers recognized are as ...