Ted Banks Examines the Implications of Internet of Things Products in “Compliance Week” Article
Partner Ted Banks was quoted in an article from Compliance Week about the ‘Internet of Things’: products and services that allow devices to communicate with each other and can include anything ranging from computer routers to baby monitors. In the article, Mr. Banks noted that every time a company powers some device with an Internet connection, it becomes a compliance issue. For instance, if a product crashes because of Internet trouble, that could constitute a breach of contract. “So part of the risk assessment by management should be examining what’s in the contract. Are you protecting yourself from the legal implications of a failure like this?”
At the upcoming Practising Law Institute (PLI) conference on Compliance and Ethics, Mr. Banks will be organizing a session on this topic. “What we’ll be doing at the PLI program is trying to go through every type of technology and say, ‘here are the compliance implications of that technology,’ ” says Banks. “If you’re using some sort of app that relies on what we lump together as Big Data, have you considered all the implications and what might those be as far as compliance risks are concerned?”
Read the full article.
Stephanie Scharf, Ted Banks, and George Sax Named Among Top Illinois Lawyers
Congratulations to Stephanie A. Scharf and Theodore L. Banks, who have been selected to the 2017 Illinois Super Lawyers list by Super Lawyers Magazines. Ms. Scharf was listed in the practice area of Civil Litigation: Defense and Mr. Banks was listed in the practice area of Business/Corporate. Each year, no more than 5% of the lawyers in Illinois are selected by the research team at Super Lawyers to receive this honor. This is the thirteenth year in a row that Ms. Scharf has received the honor and the fifth year that Mr. Banks has received the honor.
Congratulations also to George D. Sax, who has been selected to the 2017 Illinois Rising Stars list in the practice area of Business Litigation. Each year, no more than 2.5% of the lawyers in Illinois are selected by the research team at Super Lawyers to receive this honor. Attorneys named to the Rising Stars list must also be under 40 years old or have fewer than 10 years of legal experience. This is the seventh year in a row that Mr. Sax has received the honor.
Ted Banks Discusses Compliance Law Trends on “Compliance Beat” Podcast
Partner Ted Banks was a guest on a recent “Compliance Beat” Podcast where he discussed a number of issues related to compliance.
Mr. Banks, the former Chief Counsel for Global Compliance Policy at Kraft Foods, discussed his early years giving compliance presentations to employees – and the need to remember that a compliance presentation is not the same as writing a court brief.. “The most important lesson I learned the hard way is that, whatever you’re doing, you have to always do it from the point of view of your target audience,” he said.
As adjunct professor of law at Loyola University, he’s challenged his law students to do the same. He asks them to take a step back from the law and instead craft policies that will work in the real world. “If I give them an assignment to write a policy about business gifts and entertainment, they come up with lots of language that they think should be in the policy,” said Banks. “I ask them, ‘At the end of the day, if you’re an employee and someone handed this (policy) to you, would you know what to do?’”
When asked about compliance trends of the future, Mr. Banks predicted that technology advances from new social media platforms to autonomous cars will introduce a whole new area of compliance risk and compliance problems. “As you roll out this new technology, you have to consider not just the coolness of it but all the things that may happen based on the way people behave and interact with this technology,” he said.
Three Questions with Ted Banks is featured after the first 15 minutes of the show. Listen to the podcast.
Ted Banks, Corinne Heggie And George Sax Moderate Today’s General Counsel Compliance And Ethics Forum
Partner Ted Banks served as co-moderator of an October 20, 2016 Today’s General Counsel Institute compliance and ethics forum in Chicago, backed up by Corinne Heggie and George Sax as discussion leaders. Mr. Banks and his fellow panelists engaged with over 80 practicing corporate compliance attorneys and administrators in a wide-ranging, all day discussion of compliance structures, special compliance problems, and best practices for compliance training, monitoring, and internal investigation.
Ms. Heggie led a discussion about training and challenges corporations face when reducing practices into a written format that is practical and manageable for employees to use.
Mr. Sax, speaking from a litigator’s perspective, discussed best practices for document preservation and anticipation of discovery, and compliance with state social media laws. Scharf Banks Marmor LLC will continue to monitor developments in corporate compliance and ethics and related litigation, including any amendments that may arise from this or other roundtable discussions.
Ted Banks Talks To Compliance Week About Meeting eDiscovery In Wake Of Plantronics Decision
Partner Ted Banks, along with other compliance attorneys, weighed in on the significance of the Plantronics decision as well as precautions to ensure compliance with e-Discovery demands in a recent Compliance Week article. On July 12, 2016 the U.S. district court in Wilmington, Delaware issued a $3 million sanction because of findings that thousands of emails potentially relevant to the plaintiff had been deleted. The decision highlights the challenges of meeting demands even under new federal rules that were supposed to ease the burdens of eDiscovery.
Mr. Banks outlined important steps that a company should take once a lawsuit is filed or anticipated. A company should not only send a memo warning employees who have relevant information to save it, but should start collecting this information, he said.
Even better is to institute protective measures such as an organized, electronic record-keeping system or use of a unified storage system such as a cloud-based service. Mr. Banks cautioned that, “If a lawsuit is filed, you have to get around to people who have documents or may be witnesses and start to collect them right away and not let too much time pass.”
Chicago Lawyer Magazine Lauds Firm’s High Quality of Client Service
Scharf Banks Marmor LLC is featured as the cover story in the November 2014 issue of Chicago Lawyer magazine. The Firm was highlighted for the quality of its legal services, its continuing attention to client business needs, and its unique position as the largest certified women-owned firm in Chicago. Partners Stephanie Scharf, Ted Banks and Sarah Marmor spoke about the ways in which they have developed their careers and their approaches to managing legal services.
The Firm’s clients spoke about our approach to client services, including that the Firm offers “very talented people, all of them,” “the quality of the work is unique,” and Scharf Banks Marmor serves as “a model for . . . women- and minority-owned firms.”
The article explains how the Firm has become one of the few sizeable majority women-owned law firms in the country, by hiring experienced and talented lawyers, creating a culture of teamwork and sharing, and networking with and mentoring other women in the profession. The article also highlights the major renovation and expansion of the office that is underway as well as the Firm’s focus on technology as a competitive advantage.
Read the full story by clicking here.
Ted Banks Featured Twice in Business Law Today on Compliance Issues
Partner Ted Banks was featured twice as an author in the June issue of Business Law Today, published by the American Bar Association Section of Business Law, as part of its mini-theme: The Many Faces of Compliance. His article “Five Things to Think About Before You Give That Compliance Presentation,” discusses the importance of doing live compliance presentations well – and the damage that can be done as a result of poor preparation. He was co-author with James Lord on the article, “Compliance Programs, Individual Liability, and the Yates Memo: Has Anything Changed?” This article discusses the implications for compliance programs of the memorandum issued by Deputy Attorney General Sally Yates that called on federal prosecutors to focus on individual prosecutions, and not allow culpable individuals to hide behind a company conviction or plea agreement. Copies of the articles are available by contacting Ted Banks at Tbanks@scharfbanks.com.
Ted Banks Moderates ABA Food & Supplements Workshop in NY
Partner Ted Banks moderated a session at the American Bar Association Section of Litigation Food & Supplements Sixth Annual Workshop in Purchase, New York on June 14, 2016. The session, “Ethical Considerations in Consumer Fraud Class Action Settlements,” addressed the ethical issues that can arise when attempts are made to settle class actions, and problems arise that pose ethical dilemmas for lawyers on both sides. For more information, visit the ABA website here.
Partner Ted Banks Authors Article on Smartphone Compliance App
Partner Ted Banks, along with Andy Hinton, Vice President, Ethics & Compliance at Google, Inc., have written an article in the In-house Access newsletter of the Association of Corporate Counsel. The article, “Compliance via Smartphone – Stop Fighting It!,” discusses the importance of using the most up-to-date technology tools as part of a compliance program. Suggestions are given as to what should be included in a smartphone compliance app. The article can be found here, or a copy can be obtained from Ted at firstname.lastname@example.org.
Partner Ted Banks Speaks at CLE Webinar
Partner Ted Banks was a featured speaker at a webinar on April 21, Designing and Implementing Competition Law Policy and Training. This CLE webinar provided guidance to business counsel regarding competition law practices in business transactions, particularly for sales personnel training and business guidance in communications. The panel discussed ways to meaningfully convey the significance of compliance, provide guidance to different types of employees, and maintain awareness of the importance of compliance within an organization. The program was presented by Strafford Publications.
Ted Banks Published in Newsletter for Compliance Committee of ABA
Partner Ted Banks published “5 Things to Think About Before You Give that Compliance Presentation” in the newsletter of the Compliance Committee of the American Bar Association Section of Business Law. A copy can be found here.
Partner Ted Banks Discusses In-House Counsel Promotions with Law360
Scharf Banks Marmor Partner Ted Banks, who spent 33 years rising to different in-house roles at Kraft Foods before co-founding the Firm, offered insights to Law360 readers about ways in-house counsel may position themselves for promotions.
Discussing what makes clients happy, Banks said, ““What you need to be able to do is create a reputation that you’re the person that helps get things done. Very often that will mean saying, ‘You can’t do it that way, but why don’t you try doing it this way?’ Don’t just say no.”
Banks also said in-house counsel should work hard to support their managers and senior leadership within the company.
“What you want to do is make your superior look good,” Banks says. “Make sure you listen to what he or she says. Unless it’s so dramatically bad you can’t deal with it, do what they say, and never let them be surprised by something you do. Being a good team player is your best chance to have your superior have confidence in you and support you for a promotion.”
Read more insights from Banks and other lawyers in the Law360 article, “How to Nab an In-House Promotion.”
Ted Banks Co-Chairs Compliance & Ethics Forum in Chicago
Partner Ted Banks co-chaired the Today’s General Counsel Institute’s Compliance & Ethics forum, held in Chicago on Oct. 22, 2015 at the Metropolitan Club. The program provided an excellent opportunity for Chicago-area in-house counsel and compliance professionals to ask questions and share insights with their peers through a unique moderated discussion format that did not include slides or lectures. All attendees received a summary of the discussions.
Forum presenters discussed—among other relevant topics—compliance structure, best practices for internal investigations, compliance monitoring, compliance training, compliance and ethics in performance reviews, communicating compliance, and how to create a culture of compliance.
Ted Banks' Work as Compliance Monitor Lauded by FTC
The work done by Ted Banks, who serves as a compliance monitor for the Federal Trade Commission, was recently lauded in the “Competition Matters” blog from the FTC. The newsletter mentions the challenges in ensuring that the compliance obligations of the Coca-Cola Co. with regard to confidential information are protected behind an internal firewall, with oversight by the monitor. To read full article, click here.
Ted Banks Published in the June 2015 Issue of Competition Policy International
Partner Ted Banks published “Why You Should Love Your Antitrust Compliance Monitor” in the June 2015 issue of Competition Policy International. The article discusses the pros and cons of the use of monitors to resolve antitrust disputes with government enforcers. (Banks serves as a compliance monitor for the Federal Trade Commission and the Competition Bureau of Canada, but the opinions expressed in the article are his alone). To read full article click here.
Partner Ted Banks Chairs PLI Compliance Institute
Partner Ted Banks chaired the PLI Compliance & Ethics Institute in Chicago on May 4-5, 2015. As part of the comprehensive curriculum, partner Sarah Marmor spoke on compliance requirements for social media. Programs are available by e-mailing Ted Banks here.
Partner Ted Banks Blogs for ACC about Compliance Mistakes
On April 4, 2015 partner Ted Banks, along with Eric Hinton, Chief Ethics & Compliance Officer at 7-Eleven, Inc., published an article, ‘The Biggest Compliance Mistake That Lawyers Make,’ in the In-House Access blog of the Association of Corporate Counsel. The article discusses ways to make certain that compliance programs actually reach employees by focusing on the employee, rather than trying to re-teach law school. If you have any questions about compliance programs, contact Ted Banks at email@example.com
University of Denver Honors Partner Ted Banks
Partner Ted Banks was honored at with the Distinguished Alumni Award at the 2015 International Law Gala Reception of the University of Denver Sturm College of Law on March 25, 2015. While in law school, Banks served as Editor-in-Chief of the Denver Journal of International Law and Policy, and throughout his legal career he was involved in numerous international transactions. In recent years he has been involved in developing compliance programs that address risks that arise from doing business outside of the United States. As part of the March 25 proceedings, Banks delivered a talk entitled “Establishing a Universal Compliance Program for Multinational Corporations.”
Ted Banks Comments on Compliance in Inside Counsel Magazine
On March 2, 2015 Ted Banks wrote in Inside Counsel, Compliance Officers have complicated jobs. They need to manage expectations of government regulators, top-level executives and the rank and file employees. At the same time, a large number of different concerns — from privacy to corruption and more — fall under their purview. As a result, compliance officers must be aware of what is happening in their organizations and in the world, and be agile enough to adjust policies and programs to meet these disparate demands. Read full story by clicking here.
Compliance & Ethics Professional Magazine Features Ted Banks
The March 2015 edition of Compliance & Ethics Professional, the magazine of the Society of Corporate Compliance & Ethics, features an article by Firm Partner Ted Banks. The article compares the management styles of Warren Buffet and Steve Jobs, and how each contributed to the business success of their companies, and occasional failures of the their compliance programs. Read the full text of the article here.
Firm Hosts "Hot Topics for Food Industry/Consumer Packaged Goods Entrepreneurs" Seminar
On February 5, 2015, the Firm hosted a seminar entitled “Hot Topics for Food Industry/Consumer Packaged Goods Entrepreneurs.” Co-hosted by the Women’s Business Development Center, the seminar offered insights from leading members of the food industry on cutting edge legal and business issues.
Ted Banks, Scharf Banks Marmor Partner and Seminar Chair, led the presentations with targeted advice on “Avoiding Legal Problems in the Food and Consumer Packaged Goods Businesses.” Partner Nina Stillman and Senior Associate Virginia Kim explained legal issues regarding ”The Contagious Employee” and what employers can and should do when faced with that situation.
Donna Bunch Coaxum, Sr. Vice President, General Counsel and Secretary at OSI Group, LLC, a $6 billion privately-held food company, and Scott Dickinson, founder of Natural Direct LLC, covered “The Exciting World of Natural and Organic Foods.” Ellen MacGran, a chemist and food industry consultant, joined by Lois Moss-Barnwell, professional nutritionist, explained “Food Safety, Accurate Labeling and Recent Legislation.” Tom Sampson, President and Chief Executive Officer of Peacock Engineering Company, discussed “Opportunities in Private Label Food and Consumer Packaged Goods.”
For further information, including written materials, please contact Food Practice Chair Ted Banks.
Ted Banks Speaks at Fordham Law School Antitrust Compliance Program
On October 30, 2014, Partner Ted Banks spoke at the special program of the Fordham Corporate Law Center, "What You Need to Know Today in Dealing with the DOJ". Ted addressed the ethical issues facing antitrust compliance programs.
Partner Ted Banks Discusses General Counsel's Skill Set
On August 4, 2014 Partner Ted Banks authored the article What Really Should be in General Counsel's Skill Set in Law Technology News, published by American Lawyer Media. The article discusses the technology knowledge that is essential for a general counsel's job for managing legal risks of the enterprise. Among the advice offered is a list of the technology tools and concepts that general counsels should review including technology concepts in substantive law, e-business, compliance and risk.
To read more, click here.
Partners Lead Seminar at the North Shore Labor Counsel
Sarah Marmor, Stephanie Scharf, and Ted Banks presented a seminar to the North Shore Labor Counsel meeting June 13, 2014. Topics discussed were the implications for employment lawyers of the recent repeal of the Illinois' anti-eavesdropping law; notable decisions from the 2014 season from the US Supreme Court, including the anticipated ruling in NLRB v. Noel Canning and its potential effects on employer social media policies and procedures. The presentation also addressed the admissibility of Social Media evidence, which is becoming increasingly important in employment cases. The seminar ended with a discussion of ethical rules for in-house counsel, particularly in the context leading compliance programs and investigations. For more information on any of these subjects contact Sarah Marmor at firstname.lastname@example.org.
Anti-Poaching Agreement Costs Apple, Google, Intel & Adobe $324.5 Million
By Ted Banks and Sarah Marmor
For many years, many people thought that agreements regarding employees were not covered by the antitrust laws. Four major hi-tech companies have just learned that this is not necessarily so. A deal among the major Silicon Valley employers -- Google, Apple, Intel and Adobe -- not to “poach” one another’s top employees has just resulted in a large payment to settle a class action lawsuit days before trial was to begin. In re High-Tech Emp. Antitrust Litig., No. 5:11-cv-02509, (N.D. Cal. May 22, 2014) (motion for preliminary approval of settlement).
The companies’ agreement first came to light after an investigation and then prosecution by the Department of Justice for violation of both antitrust and labor laws. A class action then was instituted on behalf of 64,000 technical employees seeking $3 billion. The problem? If companies agree not to hire a class or group of employees, they are limiting competition for those employee’s services, and (at least in theory) reducing or controlling the salary that the employees can command due to the reduced demand.
Employers should be sensitive to any agreement with another company about employees, their salaries, or their benefits. There is a very specific exception for employers to work together to jointly negotiate a union contract, but in the absence of a union situation, employers cannot work together without creating antitrust issues. Employers should also be very careful about sharing information with competing employers, even if there is no formal agreement among them to use that information to control wages or the like. HR departments often send out surveys of wages or benefits, and even if there is no agreement regarding the results of the survey, the mere fact that the employers communicated creates the inference that there was a tacit agreement to align their salaries and benefits.
There are ways to protect and preserve your employees – through appropriately tailored noncompete agreements. And there are ways to obtain information about prevailing wages and benefits. But these need to be done in consultation with counsel lest you inadvertently run into antitrust buzz saws from the government and private plaintiffs.
Ted Banks is head of the firm’s antitrust practice. email@example.com
Sarah Marmor is head of the firm’s employment law practice. firstname.lastname@example.org
Is Your Antitrust Compliance Program Effective?
On March 20, 2014 Ted Banks has written a new article for the American Bar Association Antitrust Section Compliance & Ethics Sportlight, "Is Your Antitrust Compliance Program Effective?". The article outlines how to make an antitrust compliance program work, and lists 30 questions you should ask about your program. For a copy of the article contact email@example.com.
Attorneys Stephanie A. Scharf, Theodore Banks and George D. Sax Named Among Top Illinois Lawyers
Congratulations to partners Stephanie A. Scharf and Theodore Banks, who have been recognized as 2014 Illinois “Super Lawyers” by Super Lawyers Magazine. Ms. Scharf was recognized for her work in the Civil Litigation: Defense practice area and Mr. Banks was recognized for his work in the Business/Corporate practice area. Both Ms. Scharf and Mr. Banks placed in the top 5% of Illinois lawyers in reviews by peer attorneys. This is the tenth year in a row that Ms. Scharf has received this honor and the third year in the row that Mr. Banks has received this honor.
Counsel George D. Sax was also named an Illinois "Rising Star" in the practice area of Business Litigation. Mr. Sax was ranked in the top 2.5% of attorneys in Illinois who are fewer than 40 years old or have less than 10 years of legal experience. This is the fourth year in a row that Mr. Sax has received this honor.
Ted Banks Authors "Why Your Organization Needs a Cybersecurity Compliance Plan" in Law Technology News
Ted Banks discusses the case brought by the FTC against Wyndham Hotels for failing to protect credit card information, and its implication for corporate compliance programs. The article appeared in the December 10, 2013 edition of Law Technology News. Click here to read it in full.
Ted Banks Comments on Food Industry Developments
Ted Banks was interviewed in November 2013 about developments in the food industry on the Internet radio program, "Money for Lunch", which is available at www.moneyforlunch.com.
Ted Banks Speaks at 2013 SCCE Compliance & Ethics Institute
Partner Ted Banks was a featured speaker at the 2013 Compliance & Ethics Institute of the Society of Corporate Compliance & Ethics, held in Washington, D.C. on October 6-9. Mr. Banks spoke on the topic of Automating Your Compliance Program, and addressed cutting edge techniques for implementing an efficient compliance program. For a copy of the outline from the program, please contact Ted at firstname.lastname@example.org.
Ted Banks Speaks on "Discrimination in Price and Promotions"
Ted Banks spoke on "Discrimination in Price and Promotions" as part of the Practising Law Institute Antitrust Institute 2013 program that was held in Chicago on June 10-11. The panel discussed the basis elements of the price discrimination violation, the concept of injury in primary, secondary, and tertiary lines of competition, the different rules applicable to advertising and promotional allowances, and new developments in the courts and FTC. For more information go to www.pli.edu.
Ted Banks Chairs PLI Corporate Compliance and Ethics Institute
Ted Banks was the chair of the Practising Law Institute Corporate Compliance and Ethics Institute 2013,held in Chicago on May 9-10. Attendees learned the essentials of compliance and ethics programs, the latest legal developments and new technological tools to make implementation of a compliance program more efficient, while having an opportunity to interact with colleagues and faculty members. For more information go to www.pli.edu.
Ted Banks Speaks on ABA Antitrust Section Webinar
On March 15, 2013, Ted Banks was a speaker on a webinar presented by the ABA Antitrust Section - Compliance & Ethics Committee, "Antitrust Programs and the AU Optronics Case." In this case, the judge not only imposed a record-tying $500 million fine, but also honored the Division's recommendation to require an independent third-party antitrust compliance monitor - a first for an antitrust case. The judge also mandated the implementation of an effective compliance and ethics program. Some of the issues discussed were: Are independent compliance monitors the wave of the future for antitrust enforcement? What role should a compliance program play in an enforcement proceeding? What concerns unique to antitrust should companies consider as they implement a compliance program?
Scharf Banks Marmor LLC Attorneys Named Among Top Illinois Lawyers
Congratulations to Stephanie A. Scharf, who was recognized as a 2013 Illinois "Super Lawyer" (for Civil Litigation Defense). Ms. Scharf placed in the top 5% of Illinois lawyers in reviews by her peer attorneys. This is the ninth year in a row that Ms. Scharf has received this honor.
Theodore L. Banks was recognized as a 2013 Illinois "Super Lawyer" (for Corporate Governance & Compliance).
Counsel George D. Sax was named an Illinois "Rising Star" in the field of Business Litigation. Mr. Sax was ranked in the top 2.5% of attorneys in Illinois who are less than 40 years old or have less than 10 years of legal experience.
Ted Banks Named as Compliance Monitor by the Competition Bureau of Canada
Ted Banks was recently named as Compliance Monitor by the Competition Bureau of Canada to oversee compliance with a Consent Agreement issued in connection with a proposed joint venture between Air Canada and United Airlines. According to the Agreement, the airlines are not allowed to share commercially sensitive information on 14 key routes between Canada and the United States where the Competition Bureau was concerned that the combined market share of the two carriers might lead to significant price increases.
Ted Banks Featured in Legaltech News
The October 23, 2012 issue of Legaltech News features attorney Ted Banks speaking his mind on the new iPad Mini and similar devices. Read the article here.
Ted Banks Authors Update on Corporate Compliance: New Statutes and Technology
Firm partner Theodore L. Banks has written an article called "Preventive Measures in a New Age: Preparing for New Technology and New Statutes." The article's topics range from issues of employer liability as a result of the Dodd-Frank Wall Street Reform and Consumer Act, to the trend of social media in the workplace. The article is an effective guide for developing compliance programs that meet the new challenges of today. For a copy, please contact Ted at email@example.com.
Ted Banks Co-authors Article on Antitrust Compliance
Partner Ted Banks co-authored an article in the Denver Journal of International law & Policy, "The International Law of Antitrust Compliance." The article discusses the need for a global standard for antitrust compliance, just as there is for the substantive law of antitrust. For a copy, please contact Ted at firstname.lastname@example.org