Two More Federal Appeals Courts Weigh in on Plain-View Computer Search; Circuit Split

Federal appeals courts are divided as to whether and how to apply to computer searches the Fourth Amendment’s plain-view doctrine,which developed in a non-electronic context.

Senators Dodd, Corker Put Consumer Protection Debate on Hold in Bid to Make Headway on Financial Reform

Citing optimism regarding the development of a consensus bill, Senate Banking Committee Chairman Chris Dodd (D-Conn.) announced Feb. 11 that he and Sen. Bob Corker (R-Tenn.) have agreed to negotiate financial services reform legislation.

SEC Reviewing Point-of-Sale Disclosures Beyond Mutual Fund Industry, Schapiro Says

Securities and Exchange Commission is looking at requiring point-of-sale disclosures beyond the mutual fund context to other financial products that are sold to retail investors, such as equity-indexed annuities, Chairman Mary Schapiro said Feb. 5.

Judge Orders Galleon Insider Trading Defendants to Turn Over Wiretap Evidence to SEC

In a major victory for the Securities and Exchange Commission, the U.S. District Court for the Southern District of New York Feb. 9 ordered the Galleon defendants to turn over wiretap evidence to the agency by Feb. 15 (SEC v. Galleon Management LP, S.D.N.Y., No. 09 Civ. 8811, 2/9/10).

State Combined Reporting Regimes Pose Risks for Foreign Firms Without U.S. Presence

A foreign corporation that has no physical presence in the United States and no obligation to pay federal income taxes could nevertheless incur state tax liability in Massachusetts or Wisconsin under recently enacted combined reporting regimes, a panel of tax experts said Feb. 10.

Documents in Tax Dispute Protected by Attorney-Client Privilege, Federal Magistrate Finds

A magistrate judge for the U.S. District Court for the District of Nebraska Feb. 8 ruled in an employment tax case that correspondence between an attorney and a taxpayer that was turned over to the government by a third party

President Obama Signs Measure Putting in Place Statutory Pay-As-You-Go Budget Law, Boosting Debt Limit

President Obama Feb. 12 signed, without comment, a bill (H.J. Res. 45) reviving the lapsed pay-as-you-go budget law, and also boosting the limit on federal borrowing by a record $1.9 trillion.

Senator Grassley to Move Delayed Tax Extenders as Alternative or Amendments to Jobs Bill

Sen. Charles Grassley (R-Iowa) will attempt to move extenders—which Senate Majority Leader Harry Reid (D-Nev.)