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Securities & Financial News to Note : Alert - August 25, 2008

This bulletin is published every other week on Monday and is disseminated via electronic mail. It features brief summaries of current legal developments in the SEC/corporate, accounting/tax, banking, litigation, as well as other business and financial service areas when appropriate.

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Indian Law: Alert - August 25, 2008

The Bank Secrecy Act (BSA) requires that designated “financial institutions” implement and maintain anti-money laundering (AML) programs. Tribal casinos have been des­ignated as BSA “financial institutions” since 1996. The IRS has stepped up its efforts at moni­toring Tribal casino BSA compliance, and plans to continue and expand these audits. This Alert provides an overview of what to expect during the course of an IRS BSA audit.

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Press Releases

Holland & Knight Successfully Obtains BRAC Victory for State of Pennsylvania
 
August 31, 2005
 
Michael Galano - Washington
Steven Gordon - Washington
Peter Murphy - Washington

Philadelphia, PA – International law firm Holland & Knight LLP has announced that members of the firm’s Base Realignment and Closure (BRAC) and Federal Practice teams – Peter Murphy, Steven Gordon and Michael Galano – successfully represented the Commonwealth of Pennsylvania in a case surrounding the 111th Fighter Wing of the Air National Guard, stationed at the Naval Air Station Joint Reserve Base in Willow Grove, Pennsylvania. 

Pennsylvania Gov. Edward G. Rendell, along with Senators Arlen Specter and Rick Santorum, filed suit, Rendell v. Rumsfeld, in federal court July 11, 2005, alleging that the Department of Defense’s recommendation to deactivate the 111th Fighter Wing of the Pennsylvania National Guard violates federal law because any change to a state’s national guard requires the Governor’s consent.  The action arose under the “militia clause” of the United States Constitution and is intended to supplement the commonwealth’s arguments before the BRAC Commission.

The Pentagon had recommended that the Pennsylvania National Guard’s 111th Fighter Wing, with more than 1,000 personnel, be deactivated.  On Friday, August 26, U.S. District Judge John R. Padova ruled that Defense Secretary Donald H. Rumsfeld needed Gov. Edward Rendell’s consent before moving to close the 111th.

Peter M. Murphy, who led the Holland & Knight legal team for the Commonwealth, was the General Counsel of the United States Marine Corps for 20 years before joining the law firm in 2004.  Prior to entering private practice, Mr. Murphy dealt closely with high-level government officials, including the Secretary of the Navy and senior members of the Office of the Secretary of Defense. Mr. Murphy has served as a front-line advocate for the Marine Corps with Congress, dealing with Members and drafting and shepherding critical legislation.  As the general counsel for a $19 billion enterprise, Mr. Murphy’s advice has encompassed a myriad of issues, from sensitive personnel issues to complex weapons systems development and acquisition to environmental concerns associated with worldwide military operations and homeland security.

Contact: Sonja Gregg-Phelps, (202) 419-2576