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Notice and Notice Regime Does Not Change Law for Obtaining Norwich Orders

Unlike many countries which provide an effective “notice and take down” remedy for copyright owners whose works are wrongly posted on internet sites, Canada has implemented a “notice and notice” regime. In Voltage Pictures, LLC v. John…more

SEC Announces Enforcement Actions Under its Muni Bond Disclosure Initiative

Last week, the Securities and Exchange Commission (SEC) announced that it brought enforcement actions against 71 municipal issuers and other obligated persons as part of the SEC’s Municipalities Continuing Disclosure Cooperating (MCDC)…more

Anti-Corruption Laws and Other International Risks – What it Means for the Real Estate Industry and How to Protect Against Risks

Real estate investment involves many risks with which real estate investment managers are familiar. These range from “micro” risks, such as tenant disputes and defective property maintenance, to “macro risks” such as negative…more

New Visa Rule Proposed for International Entrepreneurs

The Secretary of the Department of Homeland Security recently signed a proposed rule that would allow certain international entrepreneurs to temporarily enter the U.S. to start their businesses. The U.S. Citizenship and Immigration…more

Teacher Retirement Board Issues Revised Guidelines for the Reemployment of Retired Teachers

On June 29, 2016, the Teacher Retirement Board (“TRB”) issued new guidance concerning the reemployment of retired teachers. One of the new and significant guidelines for post-retirement employment concerned the application of federal…more

Court Dismisses Appeal From Order Appointing A Temporary Administrator And Reverses Temporary Injunction

In Harris v. Taylor, Harris challenged a probate court’s interlocutory order appointing a temporary administrator and a temporary injunction order enjoining her from accessing certain financial accounts. No. 01-15-00925-CV, 2016 Tex…more

“High Volatility” - How Can Banks Avoid Having Loans Classified as HVCRE?

Where did the HVCRE rules come from? In the wake of the 2008 financial crisis, international banking regulators determined that banks were not sufficiently well-capitalized and published the Basel III Capital Accords in 2010…more

Foreclosing Residential Lenders Ignore Environmental Issues at Their Own Risk

Several years ago, we assisted a lender who foreclosed on rural residential property and then discovered that vandals had removed metal pipes from the basement of the house. That was bad enough, but the removed piping had connected a…more

Export Licenses vs. Anti-discrimination: Hiring Non-U.S. Persons at Colleges and Universities

Imagine your institution has employed a graduate student to support a technology research program. The student is a citizen of the People’s Republic of China and holds a student visa, but is not authorized to view certain…more

FTC Bars New York Debt Collector and Companies from Future Debt Collection

On August 24, 2016, the Federal Trade Commission (FTC) announced that the FTC and the Attorney General for the State of New York (New York AG) reached a settlement with a New York debt collector that will ban the owner and his…more

Your daily dose of financial news - The Brief – 8.30.16

And after all the sturm und drang surrounding the Hershey Trust and the Mondelez buyout offer over these past few months . . .  it’s over.  Mondelez announced yesterday that it’s no longer seeking to acquire the Hershey Company…more

Accommodating Requests for Service Animals and Emotional Support Animals in your Community

Many community associations are presented with requests for accommodating service animals and emotional support animals. It can be difficult to navigate through the various laws. There are specific obligations required of housing…more

US Supreme Court False Claims Act Decision in Escobar Has Significant Implications for Contractors

On June 16, 2016, the U.S. Supreme Court ruled in the matter of Universal Health Services, Inc. v. United States ex rel. Escobar, 136 S. Ct. 1989 (2016), changing the legal landscape for False Claims Act qui tam claims concerning the…more

Data Transmission Patent Not Invalid Under Alice

Since the decision of Alice v. CLS Bank, courts have routinely invalidated patents for being directed to nothing more than abstract ideas with no inventive concept. However, there is light at the end of the tunnel for patent holders…more

Nevada Corporations And Virtual Stockholder Meetings

Companies typically cite cost savings and ease of access as the motivation for holding virtual stockholder meetings. Andy D. Bryant, Chairman of the Board of Intel Corporation, for example, provided the following rationale in the…more

EEOC Looking For Religious Discrimination Claims From Young Workers

?The U.S. Equal Employment Opportunity Commission (EEOC) recently released a one-page fact sheet, which it says will help young workers understand their rights under Title VII of the Civil Rights Act, and specifically protections…more

Why Regulation Fails

I’d like everyone to go out and buy a copy of Professor Paul Mahoney’s slender new book, Wasting a Crisis – Why Securities Regulation Fails. Paul is a brilliant guy. Until this spring, he was the dean of the University of Virginia…more

The requirement to register BEE transactions

On 6 June 2016, the South African Department of Trade and Industry (DTI) published, with immediate effect, Regulations to the Broad-Based Black Economic Empowerment Act 53 of 2003 (BEE Act). The Regulations aim to monitor compliance…more

OCC and Bank Reach $3 Million Settlement Over Alleged Unfair Billing Practices

On August 25, 2016, the Office of the Comptroller of the Currency (OCC) announced that it had agreed to consent orders with a national bank based on its alleged unfair billing practices. The civil money penalty order will require that…more

OCR to Increase Investigations Of Smaller PHI Breaches

Healthcare providers and other covered entities must report breaches of unsecured protected health information (“PHI”) to the Secretary of Health and Human Services in accordance with the Breach Notification Rule of the Health…more

Non-GAAP Disclosure Controls and Procedures

It seems that everyone is focused on non-GAAP financial measures these days, including the SEC. As has been exhaustively reported, SEC Chair Mary Jo White fired the first shot across public company bows back in December 2015, stating…more

New CMA Measures to Boost Transparency & Competition in Retail Banking

On 9 August 2016, following their retail banking market investigation, the Competition and Markets Authority (CMA) concluded that large banks well established in the personal and small business retail market do not have to compete hard…more

DOJ Files Suit Against California Lenders Alleging Discriminatory Loan Modification Scheme

On August 23, 2016, the Department of Justice (DOJ) announced the filing of a lawsuit in the United States District Court for the Northern District of California against several California-based mortgage loan modification service…more

Short-Sellers Partnering with Hackers: Exploiting Cybersecurity Fears for Short-Term Profit

A research report released last week on the supposed cyber vulnerabilities of St. Jude Medical’s devices not only jeopardizes a pending $25 billion acquisition of the company by Abbott Laboratories, it opens a worrisome new front on…more

FCC Issues Federal Debt Collection Robocall Rules

On August 11, the Federal Communications Commission (“FCC”) issued a Report and Order (“R&O”) adopting rules to implement provisions of the Bipartisan Budget Act of 2015, which amended the Telephone Consumer Protection Act (“TCPA”) to…more

What Next for Shares of Public Companies that Open Pension Funds are Entitled to?

As part of the Strategy for Responsible Development - Capital Building Program, one of the directions of the changes being considered by the Ministry of Development ("Ministry") is the total scrapping of Open Pension Funds ("OPF")…more

New Jersey Enacts Uniform Trust Code

On July 17, 2016, New Jersey’s version of the Uniform Trust Code became effective. The objective of the Uniform Trust Code, which has now been enacted in approximately 30 states, is to provide more certainty for beneficiaries…more

SEC Adopts Amendments to Form ADV

On August 25, 2016, the Securities and Exchange Commission (SEC) adopted amendments to Form ADV that are designed to provide additional information regarding advisers, including information about their separately managed account…more

New FDIC Study is Predictive of Upcoming Risk Management Examinations

When the FDIC finishes an examination of a bank and finds that improvements are recommended in certain areas, the recommendation is delivered to the bank in the Report of Examination as Matters Requiring Board Attention (MRBA). The…more

Say-On-Pay Considerations for Compensation Committees

Now that most public companies have held their 2016 annual meetings, and stockholders have voiced their opinions regarding executive compensation, it is more important now than ever for companies and their compensation committees to…more

FTC Reverses Its ALJ and Finds LabMD Section 5 Violation

The Federal Trade Commission recently vacated the decision of its Chief Administrative Law Judge and on July 29, 2016 entered a final order against LabMD potentially expanding previous interpretations of what constitutes “unfair or…more

Form ADV Gets an Overhaul

On August 25, 2016, the Securities and Exchange Commission (“SEC”) modernized the reporting regime for investment advisers by adopting amendments to the Investment Advisers Act of 1940, as amended (the “Advisers Act”) and Form ADV…more

Ninth Circuit Uproots Department of Justice Prosecution of Medical Marijuana Cases

On August 16, 2016, the United States Court of Appeals for the Ninth Circuit rebuked the Department of Justice (“DOJ”) in United States v. McIntosh, a case that involves the tension between federal and state laws involving medical…more

The Business Court Opens Its Door Wide To "Intellectual Property" Disputes

The Business Court doesn't often discuss its interpretation of the statutory bases for a designation to the Court, all of which are contained in G.S. sec. 7A-45.4. So its published Order this month in Southeastern Automotive, Inc. v…more

Don’t Hail the CAB – Why FINRA’s Capital Acquisition Broker Rule Set Will Not Get Private Funds to their Destination

For many years, the private fund industry and the securities bar have called for a limited rule set to govern broker-dealers solely engaged in raising capital for private funds or other issuers of unregistered securities or in merger…more

FCC Licenses: The Forgotten Stepchildren of M & A

Parties to acquisitions often find themselves in the position of the McCallisters in "Home Alone," dashing out of the house and arriving in Paris only to discover that they’ve left little Macaulay Culkin (aka Kevin) behind. Like the…more

OSHA’s Electronic Reporting Rule and Its Heightened Focus on Non-Retaliation

On November 1, 2016, the Occupational Safety and Health Administration (OSHA) will begin enforcement of a new final rule on electronic reporting of workplace injuries. The rule increases employers’ obligations to make sure that…more

OSHA’s Recordkeeping Anti-Retaliation Rule: Assault on Pizza Parties, Drug Tests and Exec Compensation

OSHA’s recent Injury and Illness Recordkeeping reform has created quite a stir for employers. As we discussed in an earlier article about the new Recordkeeping rule, OSHA now requires employers to electronically submit to OSHA their…more

CFPB and National Bank Reach $32.25 Million Settlement Regarding Credit Card Add-On Products

On August 25, 2016, the Consumer Financial Protection Bureau (CFPB) announced an order against a national bank that will require the bank to pay $32.25 million in consumer relief and civil penalties based on practices relating to…more

Changes to Confidential Business Information Disclosure Under the Reformed Toxic Substances Control Act

This client alert is the fourth in a series that discusses the significant changes instituted by the passage of a new federal Toxic Substance Control Act (TSCA). The first alert addressed broadly the law’s myriad of changes. The second…more

International Entrepreneurs Receive Welcome News from USCIS

The U.S. Citizenship and Immigration Service (USCIS) has announced a proposal to grant international entrepreneurs temporary admission to the United States in order to start or scale their businesses here. On Friday, August 26, 2016…more

Vineyard Wind offshore project changes hands

Danish fund management company Copenhagen Infrastructure Partnershas acquired Offshore MW LLC, the holder of an offshore wind energy lease issued by the U.S. Bureau of Ocean Energy Management over an area south of…more

ACA Non-Discrimination Rules May Apply to Certain Healthcare Employers' Benefits Practices

In May, the Department of Health and Human Services (DHHS) issued final regulations implementing Section 1557 of the Affordable Care Act. This legislative provision, which has been in effect since 2010, prohibits health programs or…more

Contested FCC Media Ownership Order Leaves Rules Largely Unchanged

After failing to complete the required Quadrennial Review of its media ownership rules for nearly a decade, on August 25, 2016, the FCC released a Second Report and Order signaling the completion of both its 2010 and 2014 Quadrennial…more

Ninth Circuit Rules that Agreements Precluding Employees from Bringing Class Action Claims Violate Federal Labor Law

In a sweeping ruling with far-reaching implications for California employers, the Ninth Circuit Court of Appeals – the federal appellate court for the Western United States – has concluded in Morris v. Ernst & Young, LLP that an…more

Suspending Franchise Sales

In several states that require franchise registration, it is a good idea to suspend franchise sales while an amendment or renewal application is pending with the state.  Franchisors commonly suspend franchise sales pending…more

So You Want To Sell Your Business… PART 4 of 4 – Engaging Advisors to Assist in the Sale

The time has come. You have well-thought-out reasons to sell your business. You have put your business in the best possible position for sale. You are ready to devote significant time and money to the sales process. Market conditions…more

The Ripple Effect of the Federal Circuit’s Decision in Amgen v. Apotex on Biosimilar Litigation

In July, the Federal Circuit decided Amgen v. Apotex, No. 2016-1308 (Fed, Cir. July 5, 2016), its second decision interpreting the U.S. biosimilar statute, the Biologics Price Competition and Innovation of Act of 2009 (BPCIA). The…more

OIG Releases Revised Guidance on Independent Review Organization Independence and Objectivity

On August 22, 2016, the Office of Inspector General of the Department of Health and Human Services (OIG) released updated guidance on Independent Review Organization (IRO) independence and objectivity (the “Guidance”). The Guidance…more

U.S. CPSC Oversees Recall of Hoverboards Citing Risks Associated with Lithium-ion Battery Packs

Not surprisingly, following on the heels of various accounts and reports of fires caused by hoverboards, ten manufacturers, distributors and retailers have issued an official recall of 501,000 hoverboards in the United States…more

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