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Draft Released of Highly Anticipated Massachusetts Energy Bill

This week a draft of the long-awaited Massachusetts energy bill was reported out of the Joint Committee on Telecommunications, Utilities and Energy. The bill would require the Commonwealth’s distribution companies to competitively…more

Congress Overhauls 1976 Federal Chemical Regulation Law

Gives EPA Broad Mandate to Evaluate Safety of All Chemicals and Practical Authority to Ensure Safe Use - On Tuesday, the U.S. House of Representatives overwhelmingly passed a bipartisan bill that, for the first time in 40 years…more

CMS’s Final Medicaid Rule Tweaks the Proposed Rules Related to Marketing, Physician Incentive Arrangements and Long-term Care

On April 25, 2016, the Centers for Medicare & Medicaid Services (CMS), released the Medicaid managed care final rule entitled, “Medicaid and Children’s Health Insurance Program (CHIP) Programs; Medicaid Managed Care, CHIP Delivered in…more

Update: Midland Funding v. Madden

In an amicus curiae brief, the US Solicitor General recommends that the petition for certiorari in Madden be denied, but agrees that the Second Circuit’s decision is incorrect and emphasizes the importance of banks being able to freely…more

New York City Tribunal Rejects City’s Attempt to Forcibly Combine Bank and Its Mortgage Subsidiary

The New York City Tax Appeals Tribunal, affirming a determination of an Administrative Law Judge, has held that Astoria Bank, which engaged in a banking business in New York City, was not required to include in its combined New York…more

CMS Temporarily Suspends QIO Patient Status Reviews of Short Stay Inpatient Claims under the Two Midnight Rule

According to press reports, on May 4, 2016, CMS directed Beneficiary and Family Centered Care Quality Improvement Organizations (BFCC-QIOs) tasked with reviewing the appropriateness of short stay inpatient claims under the Two Midnight…more

Advertising Law - May 2016 #4

NAD Vacuums Up Preference Claims - In a challenge brought by a competing vacuum manufacturer, the National Advertising Division recommended that SharkNinja discontinue a claim that "Americans now choose Shark 2-to-1 over Dyson."…more

France Considers New Anti-Corruption Authority

France has introduced a draft bill which proposes to establish a new anti-corruption authority, which will have the power to impose administrative sanctions and conduct US-style monitoring of companies’ anti-bribery…more

The Department of Labor’s 2016 Final Fiduciary and Conflict of Interest Rule: The Best Interest Contract Exemption

Last month the U.S. Department of Labor published a suite of final regulations governing the fiduciary status of, and prescribing conflict of interest rules that apply to, persons who provide investment advice to ERISA-covered…more

CFTC Proposes to Allow Private Lawsuits for Transactions in RTOs and ISOs

The proposal could create uncertainty for market participants and raise jurisdictional questions about which regulator should police power markets…more

Staying Private Longer

Yesterday, May 24, 2016, the Staff of the Securities and Exchange Commission published a Small Entity Compliance Guide that is intended to help issuers navigate the changes to the Exchange Act Section 12(g) threshold in light of the…more

Third Circuit Holds SCRA Protections Do Not Extend to Servicemember-Owned Businesses

In a unanimous opinion in Davis v. City of Philadelphia, the U.S. Court of Appeals for the Third Circuit has held that Servicemembers Civil Relief Act (SCRA) protections do not extend to a servicemember's solely owned business because…more

DOL Fiduciary Rule Re-Makes Retail IRA Advice

Congress voted this week to de-rail the Department of Labor’s sweeping fiduciary-duty suite of rule-making, but doesn’t have the votes to override the President’s threatened veto…more

SEC Issues C&DIs and Small Entity Compliance Guides for Crowdfunding

On May 13, 2016, the SEC issued new Compliance and Disclosure Interpretations (“C&DIs”) on Rules 100 (Crowdfunding Exemption and Requirements), 201 (Disclosure Requirements), 204 (Advertising) and 205 (Promoter Compensation) of…more

Tennessee Legislative Update

Governor Haslam recently signed several bills into law that will impact Tennessee employees and employers in both the public and private sectors. Employers may wish to reassess certain policies and practices in light of these changes…more

Financial Services Weekly News - May 2016 #4

Breaking News - Solicitor General Files Brief in Madden v. Midland Funding - On May 24, the U.S Solicitor General (SG) filed a brief with the U.S. Supreme Court (the Court) in the matter of Madden v. Midland Funding, in…more

Coaches and Athletic Trainers Under the New FLSA Rules

As schools seek to adjust to the new Department of Labor overtime exemption rules and increased salary standards, nearly every institution has classification and overtime-calculation questions about athletic coaches and athletic…more

CFPB May 2016 complaint report highlights credit reporting complaints, complaints from New Mexico consumers

The CFPB has issued its May 2016 complaint report which highlights complaints about credit reporting  and complaints from consumers in New Mexico and the Albuquerque metro area.  The CFPB began taking complaints about credit reporting…more

FINRA Proposes Amendments to its New Debt Research Rule

On May 24, 2016, FINRA proposed amendments to its new debt research rule (Rule 2422). The amendments are intended to clarify Rule 2422 in four respects: (1) the consent requirement for institutional debt research reports distributed…more

Trial & Heirs: 5 Estate Planning Stumbling Blocks

Last month, Prince died at the ripe young age of 57. He had no will, as reported by his only full sibling (a sister). She filed for probate of his estate in Minnesota, where he owned a home in Paisley Park. Under Minnesota law, a…more

CMS Proposes Fiscal Year 2017 Payment for Skilled Nursing Facilities and Provisions for FY 2019 Value-Based Purchasing Implementation

Overall, the Proposed Rule details CMS’s proposals for SNFs in CMS’s accelerating pace of shifting Medicare payment from volume to value toward the administration’s goals and timeline for moving the Medicare program, and the health…more

Real Property & Title Insurance Update: Weeks Ending May 13 & May 20, 2016

REAL PROPERTY UPDATE - Contracts/Personal Liability: official title of “President” underneath signor’s signature on contract did not shield individual from personal liability because contract language reflected individual assumed…more

Meet The Jetsons: Fashionable Technology

In the opening montage of the famous American 1980’s sitcom, The Jetsons, we see the family zipping through their futuristic utopia donning clothing and accessories that we could only dream of, until today. Coco Chanel once aptly noted…more

Third Time’s a Charm: NASDAQ Amends Proposed Rule Requiring Disclosure of “Golden Leash” Arrangements

As we previously reported here, on January 28, 2016, the NASDAQ Stock Market LLC proposed a change to its Listing Rules that, if implemented, would have required NASDAQ-listed companies to publicly disclose so-called “golden leash”…more

Handling Nondiscretionary Incentive Payments Under the New FLSA Overtime Rule

One of the few “wins” for employers under the DOL’s new overtime rule was that employers are now allowed to apply “nondiscretionary incentive payments” to meet up to 10 percent of the new salary threshold. This change could prove very…more

FinCEN Deputy Director: Industry Collaboration Key to Finalizing Customer Due Diligence Rule

On May 16, FinCEN Deputy Director Jamal El-Hindi delivered remarks at the Institute of International Bankers (IIB) Annual Anti-Money Laundering Seminar in New York. The focal point of El-Hindi’s remarks was recent Treasury initiatives…more

Manatt on Medicaid: Monthly Expansion Recap - May 2016

Alaska - House Brings Medicaid Expansion Lawsuit to State Supreme Court - The Alaska House of Representatives has filed an appeal to the State Supreme Court seeking reinstatement of its lawsuit against Governor Bill Walker's…more

Ready . . . Set. . . Stop — Travel Crawls Along During I-84 Interchange Construction

With Memorial Day weekend upon us, I am looking forward to a trip to New Hampshire to enjoy warm sunshine, cold beverages and a little R&R sitting on the front porch and looking at the mountain view.  But before I get there, I will be…more

The End of the “Safe Harbor” Rule for E.U./U.S. Data Transfer: How Can Companies Transfer Personal Data and Remain Compliant?

Directive 95/46/EC of 24 October 1995 - Articles 25 and 26 - The transfer of personal data to a third country is allowed: ..if the third country ensures an adequate level of protection; the Commission can assess this…more

Health Care Employees at the Frontline in The Battle Against Ransomware

As recent noteworthy attacks have shown, no health care organization or provider is safe from ransomware threats, and the results of an attack can be devastating. Ransomware is a virus which limits or eliminates access to data and…more

San Francisco Passes Nation’s First Fully-Paid Parental Leave Law

The mayor of San Francisco recently signed the Paid Parental Leave Ordinance, a law that gives workers in the city the most generous parental leave benefits in the country. Covered employees will have the right to take up to six weeks…more

ACA Nondiscrimination Regulations Finalized

The U.S. Department of Health and Human Services (HHS) has issued final regulations under Section 1557 of the Affordable Care Act (ACA) which prohibit discrimination on the basis of race, color, national origin, sex, age, or disability…more

Update on the EU STS and Risk Retention

On 19 May 2016, the Committee on Economic and Monetary Affairs of the European Parliament (“ECON”) published a working document on the European Commission’s proposal for a regulation (the “Proposed Regulation”) intended to harmonise…more

“It’s Not a Culture War” – Yet?

On May 23, 2016, at FINRA’s annual conference in Washington, D.C., Richard Ketchum, FINRA’s chairman and CEO, delivered a speech that shed a little light on FINRA’s recent sweep letter relating to firm culture…more

Los Angeles County Minimum Wage Increase Set to Take Effect July 1, 2016

Los Angeles’ Minimum Wage Ordinance, passed last summer, begins its steady increase to the city’s minimum wage on July 1. The minimum wage will eventually increase to $15.00 by the year 2020 for large employers. Smaller employers…more

Global VAT Guide 2016 - Cross border supplies of intangible services, rights and digital content

Focusing on supplies of intangibles, such as services, intellectual property rights and digital content, we consider this Global VAT Guide to be timely, given that revenue authorities throughout the world are increasingly focused on…more

I Meant it at the Time: Second Circuit Reverses $1.2BN FIRREA Judgment

It’s hornbook law that a later intentional breach of contract, alone, doesn’t equal promissory fraud. Holding it therefore cannot establish mail or wire fraud, the Second Circuit reversed the Government’s $1.2 Billion FIRREA judgment…more

Latest California ADA Lawsuit Reform Attempt: “Watered Down Solution”

Seyfarth Synopsis: In yet another effort to limit predatory ADA lawsuits, California Governor Jerry Brown recently signed into law – effective immediately – legislation that will provide small business owners with some potential…more

Justice Department Sides With Financial Industry on Madden Case

Marketplace loan investors may want to "gather ye discounted Madden loans while ye may," as the Robert Herrick poem reads (taking some fintech license, of course). In the strongest rebuke yet of the U.S. Court of Appeals for the…more

A New Federal Tool to Defend Against Trade Secret Theft

A new federal law, the Defense of Trade Secrets Act (DTSA), was signed into law on May 11, 2016 by president Obama becoming Public Law No. 114-153. The new law is authorized by the Commerce Clause of the U.S. Constitution and is an…more

European Commission Unveils New Digital Single Market Proposals

The Commission’s proposals aim to drive cross-border e-commerce in the EU and level the regulatory field across audiovisual media services and online platforms. On 25 May 2016 the European Commission (Commission) announced new…more

New Economic Development Opportunities Possible Thanks to Improved Marketability of Philadelphia Tax Increment Finance Transactions

The tools available to the City of Philadelphia to finance community and economic development projects have been enhanced under a new law that authorizes the imposition of special assessments to support tax increment finance (TIF)…more

New Treasury Guidance Significantly Expands Field of Renewable Energy Projects That May Qualify for the PTC or ITC

On May 5, the U.S. Treasury Department released Notice 2016-31 to address certain changes made to the Production Tax Credit (“PTC”) and Investment Tax Credit (“ITC”) in the Protecting Americans from Tax Hikes (“PATH”) Act of 2015, Pub…more

One More Tool in the STB Toolbox, But Will the Agency Use It?

The STB Reauthorization Act of 2015 gave the agency new powers to conduct investigations on its own initiative. This month, the agency issued a Notice of Proposed Rulemaking setting out its proposed three step process for conducting…more

An Ounce of Prevention: Employing Foreign National Physicians in Physician Shortage Areas

Sponsoring a waiver for a J-1 “exchange visitor” can be a good way for healthcare employers to attract talented physicians to vacancies in underserved areas. Here is an example of how the J-1 process works and can help employers and…more

The Recent PTO Guidance on Subject Matter Eligibility: Lessons

A few years ago, former PTO Solicitor General Nancy Linck arose from the audience at the BIO International Conference to provide her thoughts on how the Office had responded to the Supreme Court's decisions in Mayo v. Prometheus Labs…more

FTC Releases New Guidance on FCRA Compliance for Employment Background Screening Companies

The FTC has released new guidance aimed at helping companies that conduct background screenings for employment purposes to determine whether they are “consumer reporting agencies” within the meaning of the federal FCRA. Pointing to the…more

8th Cir. Rejects Dr.’s Grab-Bag Retaliation Suit

Dr. Alaa Elkharwily lost his job at Albert Lea Clinic, but he didn’t go quietly. He sued the clinic and eight related organizations and individuals alleging just about everything a terminated doctor can allege in Minnesota: defamation…more

Blog: European Parliament Moves To Crack Down On The Use Of Virtual Currencies For Money Laundering & Terrorism

The European Parliament has just published a press release, describing a “move to crack down on [the] use of virtual currencies for money laundering, terrorism“, although that’s not quite what the backstory suggests is about to happen…more

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