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Orrick's Financial Industry Week In Review

Agencies to Propose Amending CRA Regulations to Conform to HMDA Regulation Changes, and Remove References to the Neighborhood Stabilization Program - On September 13, 2017, the Board of Governors of the Federal Reserve System, the… more

A Kind Demand Letter? Stranger Things Have Happened (Apologies)

Chicago pop-up bar “The Upside Down” rode a wave of popularity program all the way to Netflix’s legal department. And that’s where things took an unexpected turn!… more

Oil & Gas Sector in Mexico: Comisión Nacional de Hidrocarburos Announces Petróleos Mexicanos Invitation to Bid for Ayín-Batsil Farmout

On September 18, 2017, the Mexican government, through the Comisión Nacional de Hidrocarburos (National Hydrocarbons Commission or “CNH”), commenced an international tender process to grant the right to enter into a license agreement… more

California’s Proposed “Wage Shaming” Law Is Another Mess

In yet another measure to expand the scope of California’s equal pay laws, Assembly Bill 1209 proposes an addition to the Labor Code (section 2810.6) requiring larger employers to gather information relating to gender differentials in… more

IRS and DOL issue retirement plan relief for hurricane victims

The Internal Revenue Service (IRS) has provided welcome relief to individuals affected by Hurricanes Harvey and Irma. The relief permits plan sponsors to temporarily relax restrictions on hardship withdrawals, participant loans and… more

Did The SEC’s Pay Ratio Guidance Miss Conjunction Junction?

Last week, the Securities and Exchange Commission issued interpretive guidance to assist issuers in complying with the pay ratio rule. At the same time, the Division of Corporation Finance staff issued guidance concerning how… more

Does Sorry Have to be the Hardest Word in the Workplace?

When was the last time you said you’re sorry to someone at work. Last week? Last month? Last year? Never? There isn’t a right answer to this but I was thinking about this yesterday on the Jewish New Year… more

Expanded Beneficial Ownership Reporting and AML Duties Under the Corporate Transparency Act

Second of a Two-Part Blog: Anti-Money Laundering Programs Coming to the Legal Profession? Earlier this week, we began our discussion of the proposed Corporate Transparency Act of 2017 (the “Act”), and observed that, if passed, the… more

Dealing with Disasters – Quality Payment Program Exception Available for MIPS-Participating Clinicians and Groups

The Centers for Medicare & Medicaid Services (CMS) simplified the process for clinicians and other providers to seek the Quality Payment Program (QPP) Hardship exception by releasing an online application on Aug. 2… more

Landlord-Tenant – Collateral Estoppel Doctrine Bars Issues Adjudicated in Unlawful Detainer Action

Alfonso Ayala v. Randy Dawson - Court of Appeal, First District (August 4, 2017) - Property owner Randy Dawson and tenant Alfonso Ayala signed a written contract in December, 1999, entitled “Residential Lease with Option to… more

Weekly Update Newsletter - September 2017 #2

CAPITOL HILL - “Serving Small Businesses: Examining the Effectiveness of HUBZone Reforms” House Small Business Committee Press Release, September 13, 2017. Retrieved from smallbusiness.house.gov - The House Small Business… more

British Columbia Overhauling Political Campaign Financing

On September 18, 2017, the NDP Government introduced Bill 3-2017 Election Amendment Act, 2017, aiming to reform British Columbia's maligned image as the Wild West of political donations… more

Halftime in California — Which Climate and Environmental Bills Are on the Board?

The California legislature conducts its business in two-year sessions starting on the first Monday in December following an election. Last Friday, September 15, 2017, marked the last day for the California legislature to pass bills… more

Volkswagen Settlement Provides Funding Opportunities For Electric Utilities

The U.S. Department of Justice has asked the federal district court in the Volkswagen “clean diesel” emissions litigation to approve a long-awaited environmental mitigation trust agreement. The approval of the trust agreement will mark… more

Blockchain Energizer Vol. 13

There is a lot of buzz around blockchain technology and its potential to revolutionize a wide range of industries from finance and health care to real estate and supply chain management. Reports estimate that over $1.4 billion was… more

FCA Concerns Around Complaint Handling

The Financial Conduct Authority (FCA) has written to CEOs expressing concern about how firms handle complaints. Following a review of how firms deal with complaints, the regulator found material non-compliance with regulatory… more

How to Get a 2,333% ROI?

Three affiliated home health companies in Tennessee agreed to pay $1.8 million to settle False Claims Act (FCA) liability. That’s a lot of money, but it’s only about four percent of the $42 million in potential liability that… more

European Commission Proposes Framework to Screen Certain Foreign Direct Investments

Proposal coordinates existing national screening mechanisms, grants the Commission powers to review investments of “Union interest.” European Parliament and Member States’ approval still required. Key Points: On 13 September 2017… more

EU General Data Protection Regulation

The EU’s General Data Protection Regulation (679/2016/EU), the GDPR, comes into force across the EU on 25 May 2018. As it is being made by Regulation the GDPR, unlike the existing Data Protection Directive (implemented into the UK by… more

EPA OIG Releases Report on EPA’s Management of Pesticide Funds

On September 18, 2017, the U.S. Environmental Protection Agency’s (EPA) Office of Inspector General (OIG) issued a report on an evaluation conducted by OIG entitled “EPA Needs to Manage Pesticide Funds More Efficiently.” OIG states… more

CFIUS Annual Report Highlights Period of Increased Scrutiny for Foreign Investments

In 2015, the Committee on Foreign Investment in the United States (CFIUS), a U.S. Government interagency committee that conducts national security reviews of foreign investments, maintained a heavy case load, reviewing 143… more

The Extension of the Senior Manager and Certification Regime to All FCA Regulated Firms

The FCA has issued its long awaited consultation paper in relation to the extension of the senior manager and certification regimes to the wider financial services sector, after its implementation for banks, building societies, credit… more

Updated Draft of ePrivacy Regulation: Still Hampering Innovation

On 8 September 2017, the European Council published its first revisions (“Revised Draft”) to the draft EU ePrivacy Regulation (version COM(2017) 10 of 10 January 2017, “ePrivacy Regulation”). The Revised Draft is based on the… more

Taking It Personally: One Lawsuit Tries to Hold Individuals Accountable for the Equifax Data Breach

As we discussed recently, the Equifax data breach has inevitably brought a great deal of scrutiny and legal action against the credit reporting agency. Amidst the numerous brewing class actions and other reactions from government… more

The ADA Is Not a Medical Leave Entitlement, Seventh Circuit Declares

Today’s employers must run their businesses within the competitive environment in which they operate while affording employees an ever-increasing array of leaves. Yet, running a business without a full complement of employees is… more

This Week In Securities Litigation

The Commission became a cybersecurity headline this week, not for brining a case or writing a rule in the area but for an intrusion into its systems. The Chairman issued a statement on the subject… more

UK MHRA Issues New Guidance on Human Factors and Usability Engineering for Medical Devices

The UK Medicines and Healthcare products Regulatory Agency (MHRA) has published new guidance on taking human factors into account when designing medical devices and ensuring that they meet the essential safety and performance… more

Eleventh Circuit Says PDA May Require Accommodation of Breastfeeding Needs

For years, federal courts have held that pregnancy and sex discrimination laws do not require employers to affirmatively accommodate breastfeeding by employees. However, a recent line of cases has blurred this conclusion, finding that… more

Chinese Buyers Act Quickly – Parallel UK & EU Foreign Takeover Control Systems Proposed

On the 13th September 2017 Jean-Claude Juncker, the European Commission President, unveiled a framework for investment screening for certain foreign mergers in his “State of the Union” address to the European Parliament. At the same… more

Supreme Court Ruling Could Contradict Pa. Law

A recent U.S. Supreme Court decision could mean states now will have to allow public funds to be funneled to religious institutions. In Trinity Lutheran Church of Columbia, Inc. v. Comer, the Court held that Missouri falsely denied… more

DOL Announces Minimum Wage Increase for Federal Contractors

The U.S. Department of Labor has announced an upcoming increase to the minimum wage rate for contractors working on or in connection with contracts covered by Executive Order 13658, which applies to certain federal construction… more

Patent Eligibility Pointers from the Federal Circuit – Part I

What characteristics of a claim do the courts use to determine if a claimed invention meets the statutory requirements under 35 USC §101? This question has been vexing patent attorneys for years, with the question becoming more… more

New York DFS Tightens Cybersecurity Gaps

Equifax takes no deposits and makes no loans, but New York now says that it, as well as all other consumer reporting agencies, must protect consumer data to the same degree as banks and other financial institutions. On September 18… more

Vevo Hacked through LinkedIn Message

Vevo announced this week that it experienced an intrusion into its servers by the hacking collective OurMine, self-described as a white hat organization that informs individuals and organizations of potential security vulnerabilities… more

CFPB finalizes alignment of Regulation B and Regulation C requirements regarding collection of consumer ethnicity and race information

On September 21, the CFPB finalized its proposal to amend Regulation B requirements related to the collection of consumer ethnicity and race information, in order to resolve the differences between Regulation B and revised Regulation C… more

Mexico: Government Declares Non-Working Days for IMSS Proceedings and Transactions Due to Earthquake

On September 19, 2107, Mexico City and neighboring states were rocked by a 7.1-magnitude earthquake that inflicted grave damage, including the loss of life and collapsed structures… more

Hollywood Hills Nursing Home — Grim News

Victims of Profit? The death toll mounted again in the Broward County nursing-home disaster following Hurricane Irma. A ninth patient expired after being evacuated from The Rehabilitation Center at Hollywood Hills in the midst of a… more

Money Advice Service Creditor Toolkit: A Perfect Complement to New FCA Regulation

In July 2017 the Money Advice Service (MAS) released Working Collaboratively with Debt Advice Agencies: A strategic toolkit for creditors, which perfectly compliments the latest Financial Conduct Authority (FCA) regulation regarding… more

Accountant and Attorney Liability NewsBrief - Fall 2017

Our attorneys have published the Fall 2017 edition of LeClairRyan's Accountant and Attorney Liability NewsBrief. In this issue: - Supreme Court Limits SEC Disgorgement to Five Years - Revised Form I-9 Released: Mandatory… more

Nevada Pregnant Workers' Fairness Act Goes Into Effect October 1

The Nevada Pregnant Workers' Fairness Act (NPWFA) goes into effect Sunday, October 1, 2017. The NPWFA applies to employers with 15 or more employees and generally expands the scope of protections provided to female employees for… more

Federal Circuit Vacates Judge Gilstrap’s Controversial Venue Test

The Eastern District of Texas has been the hotbed of patent ligation for years, and that is undoubtedly threatened in light of the Supreme Court’s decision on venue in TC Heartland.  But the Eastern District clearly won’t go down… more

CFTC Files Its First Anti-Fraud Enforcement Action Involving Bitcoin

The CFTC filed a federal civil enforcement action in the U.S. District Court for the Southern District of New York against Defendants Nicholas Gelfman, of Brooklyn, New York, and Gelfman Blueprint, Inc. (GBI), a New York corporation… more

Hurricane Irma – Commercial Property Damage and Business Interruption Insurance Checklist

Hurricane Irma was one of the most devastating storms in United States history, with sustained winds of over 190 miles per hour. Insurance industry experts have estimated the insured damages arising from this storm may reach $50… more

Getting Closer: Progress on Nominations for CPSC Chairman and Commissioner

Yesterday, President Trump announced his intent to nominate Dana Baiocco as CPSC Commissioner. If confirmed, Ms. Baiocco would replace Commissioner Marietta Robinson when her term expires on October 27, and would serve a seven-year… more

Update: Another Court Gives Broad Reading to Illinois Biometric Privacy Act

Another court ruling this week concludes that the Illinois Biometric Information Privacy Act (IBIPA) covers face geometry scans that are created from digital images, again rejecting the argument that the statute should apply only to… more

Supreme Court Set To Weigh In On Class Action Waivers

In late 2017 or early 2018, employers should anticipate clarity from the U.S. Supreme Court as to whether arbitration agreements requiring workers to waive their right to file class or collective actions violates the National Labor… more

Understanding the EEOC’s Shifting Stance on Pay Bias and Data Collection

Recently, the Equal Employment Opportunity Commission (“EEOC”) has sent mixed signals to employers regarding its efforts to collect salary and pay data to combat pay inequity based on gender and race. Many employers are left wondering… more

President Trump Blocks Foreign Acquisition by Chinese Firm: Isolated Case or Harbinger of Increased CFIUS Scrutiny?

On September 13, President Trump blocked the $1.3 billion acquisition of U.S. microchip manufacturer Lattice Semiconductor Corp. ("Lattice") by Chinese private equity firm Canyon Bridge Capital Partners Inc. ("Canyon Bridge"). The… more

Thoughts On National Registration For Service Dogs

I’ve posted before, regarding the dilemma business owners have when faced with a customer with a dog (fake service dog) or a customer with an animal (emotional support animal – which are not afforded the same protections as service… more

Ninth Circuit Weighs in on “Field and Obstacle Preemption,” Reversing District Court’s Finding of Preemption

Whenever a claim is made that a state law has been prempted by an analogous federal law, the courts will rigorously test the strength of the claim. As as example, in a preemption case decided on September 15, by the U.S. Court of… more

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