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Legal news from Wednesday, February 9, 2005 |
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Environmental brief ~ US to delay lifting of Canada beef ban
Tom Henry on February 9, 2005 4:06 PM ET

[JURIST] In Wednesday's environmental law news, USDA [official website] Secretary Mike Johanns has announced [text] that he is delaying the effective date for the lifting of the ban on beef and cattle imports from Canada. The ban was scheduled to be lifted on March 7. Johanns met with Canadian Agriculture Minister Andrew Mitchell, and they also issued a joint statement [text] that reemphasizes the nations' combined commitment to lifting the ban as soon as scientifically prudent.
In other news, - The Fish and Wildlife Service [official website] seeks comments on a proposed rule [text] that would reintroduce the northern aplomado falcon [FWS factpage] (Falco femoralis septentrionalis) into its traditional habitat of New Mexico and Arizona. The bird has been on the endangered species list [FWS factpage] since 1986, has not been seen in Arizona since 1940, and has only sporadically been spotted in New Mexico since the 1970s. If approved, as many as 150 of the currently captively-bred falcons could be introduced to the area annually. Comments can be made here until April 11.
- Also in falcon-related news, the FWS is seeking comments on a proposed rule [text] that would simplify the requirements and federal regulations that handle falconry. These changes would include eliminating the need for a seperate federal permit if a falconer already possesses a state or tribal permit for the practice. Comments can be made here until May 10.
- The EPA [official website] seeks comments on a petition [text] from Shell Oil [corporate website] to delist a certain type of sludge produced at its Houston TX facility from the list of hazardous waste. The company believes that the sludge does not meet the initial listing criteria required by the EPA. Comments can be made here until March 11.
- The Alcohol and Tobacco Tax and Trade Bureau [official website] is seeking comments on a proposed rule [text] that would establish the "Niagara Escarpment" viticultural area in Niagara County New York. The 28 mile-long area currently has 400 acres of vineyards. Comments can be made here until April 11.
- The EPA [official website] seeks comments about amendments [text] that will change parts of the national emission standards to control hazardous air pollutants emitted from catalytic cracking units, catalytic reforming units, and sulfur recovery units at petroleum refineries. The amendments will become effective April 11, unless the EPA receives significant adverse comments by March 11. Comments can be made here.


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Election commissioners praise provisional ballots in House hearing
Jeannie Shawl on February 9, 2005 1:45 PM ET

[JURIST] Commissioners from the federal Election Assistance Commission [official website] told the US House Committee on House Administration [official website] Wednesday that the use of provisional ballots [JURIST Hot Topic archive] in the 2004 election [JURIST Hot Topic archive] allowed more people to vote, with 68 percent of the provisional ballots cast on Election Day being counted toward the final vote. The EAC testimony came as part of a hearing to examine the successes and failures of the Help America Vote Act [text] and to review the problems with the 2004 election. Four state Secretaries of State also testified at the hearing, but conspicuously absent were Kenneth Blackwell, from Ohio, and Florida's Glenda Hood. Ohio and Florida were two of the states with the most complaints following the November election and Blackwell and Hood's absence prompted several committee members to denounce their failure to appear. Review the prepared testimony [PDF text] of the EAC commissioners as well as testimony by the Secretary of State Panel: Chet Culver (IA) [testimony, DOC], Rebecca Vigil-Giron (NM) [testimony, RTF], Todd Rokita (IN) [testimony, DOC], and Ron Thornburgh (KS) [testimony, DOC]. AP has more.


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Corporations and securities brief ~ Bank of America settles market timing charges with SEC
Amit Patel on February 9, 2005 1:28 PM ET

[JURIST] Leading Wednesday's corporations and securities law news, the SEC has announced that three Bank of America Corp. [corporate website] brokerage units have agreed to pay $375 million to settle market timing charges. The SEC charged the three units with entering into improper and undisclosed agreements which allowed larger investors to engage in market timing and late trading in Nations Funds mutual funds. Read the SEC press release. Additionally, Bank of America's Fleet mutual fund unit will settle separate market timing charges and pay a fine of $140 million. Read the SEC press release. The SEC also brought related fraud charges against two former Columbia senior executives in federal court in Boston. Read the SEC litigation release and complaint [PDF]. Bloomberg has more.
In other news... - The SEC [official website] said Nasdaq stock market [official website] failed to report suspicious trading by MarketXT. The SEC stated MarketXT, an electronic trading platform, developed programs which take advantage of market-data rebates available from Nasdaq. CBSMarketWatch has more.
- A House Financial Services subcommittee [official website] wants tougher regulations for Fannie Mae [corporate website] as the subcommittee heard testimony from SEC chief accountant Donald Nicolaisen. Nicolaisen said the agency continues to investigate the company's accounting. Legislation is expected to move forward in Congress which would toughen oversight for mortgage giant. Read Nicolaisen's prepared testimony [PDF]. CBSMarketWatch has more.
- As previously reported on JURIST's Paper Chase, Yukos' [corporate website, JURIST Hot Topic] main owner, Menatep [corporate website] , has brought a damages claim worth $28.3 billion against the Russian government [official website] for expropriating its investment in the oil giant. The claim is based on an allegation that Russia violated its duties under the Energy Charter [PDF], an international treaty designed to enforce international law in energy investments. MosNews has more.
- The big four accounting firms have doubled their audit fees with US clients due to extensive work mandated by the Sarbanes-Oxley Act [PDF]. Companies have reportedly spent on average between $5 million and $8 million to comply with Sarbanes-Oxley in 2004. The Financial Times has more.
Click for previous corporations and securities law news.


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Legal agenda and live webcasts ~ Wednesday, Feb. 9
Chris Buell on February 9, 2005 1:00 AM ET

[JURIST] Here's a run-down of law-related events, expected developments and live webcasts on JURIST's docket for Wednesday, Feb. 9.
The US Senate [official website] convenes today at 9:30 AM ET, and it continues debate of S. 5 [bill summary], the Class Action Bill. Watch a live webcast via C-SPAN 2. The US House [official website] opens its daily session at 10 AM ET, with a live webcast available from C-SPAN.
The Woodrow Wilson International Center for Scholars will hold a forum on US-Iran relations after recent elections in the region, with Ken Pollack of the Saban Center on Middle East Policy and Hadi Semati of the Woodrow Wilson Center. Watch a live webcast of the event beginning at 12:30 PM ET.
EU Commission President Jose Manuel Barroso will hold a joint press conference [daily programme] with EU External Relations and European Neighbourhood Policy Commissioner Benita Ferrero-Waldner and US Secretary of State Condoleezza Rice at 4:50 PM local time [10:50 AM ET]. Watch a live webcast of the conference.
The UN Commission for Social Development [official website] opens its 43rd session [session information] today.
At the International Criminal Tribunal for the Former Yugoslavia, the trial of Slobodan Milosevic [ICTY case backgrounder] continues, with a webcast beginning at 9:30 AM local time [3:30 AM ET]. Also Tuesday, the trial of Fatmir Limaj and others [ICTY case backgrounder] continues, with a webcast beginning at 3:30 PM local time [9:30 AM ET].


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