All GLG News Analyses Filed Under: Regulation & Administrative Law

Congressional action this week greatly reduces the risk of easy approval for "generic" version of biotech drugs. FDA User Fee legislation approved by a House Committee is similar to the already passed bipartisan Senate bill. The revised version of the House bill that came out of committee no longer...

In its Placanica decision of 6 March 2007, the ECJ ruled that is inconsistent with Community law to criminally sanction the cross-border provision of sports betting. However, several questions remained open. National courts still argue under what circumstances a monopoly with regard to sports betting...

The noose seems to be tightening around what needs to be disclosed in Broker Agreements. Is it more costly to take the chance of not disclosing what may be a fiduciary obligation? Brokers can no longer hide behind any presumption of a sophisticated user.

* Court ruled that greenhouse gases are a pollutant under the Clean Air Act and that the EPA has the legal authority to limit greenhouse gas emissions from cars and trucks. * Ruling will accelerate action by EPA and Congress to limit or mitigate greenhouse gas emissions from both mobile and stationary...

The KKR deal is caught in the current of events that have developed over the past 6 years.  It is a political necessity for Texas officials to "be tough" on the electric industry. 

The World Trade Organization handed the US a defeat on the issue of internet gambling.  The international body ruled that the US must either allow internet gambling based overseas or prohibit US based online horse race betting.  The US government does not want to do either of those things

The internet gambling ban which was attached to last year's port security bill is an example of the power of the fundamentalist, anti-gambling, pro-morality Republican constituency in the waning days of the Bush Era.  Led by (then) Senate Majority Leader Bill Frist (R-TN) in an effort to polish...

---With legislation pending that would give explicit authority to the PUC to approve or reject a transaction similar to the KKR/TXU deal, it is questionable whether the PUC can follow through on its consideration of a rules "tweak" that would increase its regulatory authority over the deal

Decreasing regulations for foreign companies on Sarbox compliance will likely create forum shopping.If we realize Sarbox is too restrictive then loosen the noose first on America.  Ring tones of reciprocal compliance with other countries.

Voluntary compliance was in essence what we had before. Looking at Corporate America more closely is important, but not with a microscope. The ultimate affect of Sarbanes-Oxley will lead to more money for accounting firms and the creation of compliance issues that may eat into the profit structure...