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SEC Reins in Use of Non-GAAP Financial Measures with New Guidance

In Depth - On May 17, 2016, the Securities and Exchange Commission issued six new Compliance & Disclosure Interpretations (C&DIs) and modified other existing C&DIs to provide additional guidance on the use of non-GAAP financial…more

Health Update - May 2016

Actions to Advance Infant and Early Childhood Mental Health - Editor's Note: Children's earliest experiences—both positive and negative—impact their brain formation and in turn their social and emotional, physical, cognitive…more

IRS Offers Tax Guidance Relating to Money Market Fund Rules

The IRS recently provided relief from the RIC distribution requirement for money market funds that receive contributions in connection with the transition to a floating NAV, enabling RICs to top up their NAVs without having to…more

Massachusetts Ranks Second and Boston Ranks Seventh in the 2016 U.S. Clean Tech Leadership Index

Last week, Clean Edge published a report titled the “U.S. Clean Tech Leadership Index” (“Index”) that ranked Massachusetts as the second state and Boston as the seventh metro area in the U.S. according to its scoring methodology. The…more

Data Breaches: Are You Ready (for the inevitable)?

In 2015, identity theft occurred every two seconds, disrupting the lives of 13.1 million people, according to Javelin Strategy and Research. Year after year, U.S. data breaches have hit record highs, reports the Identity Theft Resource…more

Federal Court Strikes Down ACA Cost Sharing Reduction Payments

In Depth - A federal district court judge in Washington, DC ruled on May 12, 2016, that Congress did not appropriate funds for the Affordable Care Act’s (ACA) cost-sharing reduction (CSR) subsidies. See United States House of…more

The Defend Trade Secrets Act: What You Should Do Now

On May 11, 2016, President Obama signed the Defend Trade Secrets Act (DTSA) into law. The DTSA is an expansion of the Economic Espionage Act of 1996 and generally authorizes a civil action in federal court for the misappropriation of…more

"Hong Kong Takeovers Panel Invalidates Whitewash Waiver Granted to Alibaba"

The recent decision of the Hong Kong Takeovers and Mergers Panel (the Panel) in relation to Alibaba Health Information Technology Limited (formerly CITIC 21CN Company Limited (21CN)) has reemphasized the fundamental importance of the…more

Are Ex Parte Reexaminations An Overlooked Method of Challenging Patents?

In the wake of the September 16, 2011, enactment of the America Invents Act (“AIA”), many third-party individuals and organizations began utilizing the newly created post-grant proceedings to challenge the validity of issued patents…more

ISO 37001: A New Measuring Stick for Corporate Compliance Programs

The International Organization for Standardization is developing a certifiable international standard for “anti-bribery management systems” that could influence how the US Department of Justice, US Securities and Exchange Commission…more

EU Technical Standards on the Valuation of Derivatives for Bail-in Adopted by the European Commission

The European Commission adopted Regulatory Technical Standards on the valuation of derivatives for the purpose of bailing-in derivative liabilities. The Bank Recovery and Resolution Directive provides that a resolution authority may…more

Dealing with the new FLSA salary tests in ruby slippers

News releases echoing the famous mantra from The Wizard of Oz – “lions, and tigers, and bears …. Oh my!” – suggested that the Department of Labor (DOL) issued an army of flying monkeys. Not so…more

Federal Court Allows the EEOC to Conduct Investigation on Employer’s Premises Without Employer Consent or a Warrant

Many employers are familiar with the fact that the EEOC regularly conducts on-site workplace investigations after receiving charges of discrimination or harassment. A recent federal court decision, however, may lead to an uptick in…more

EU Technical Standards on Minimum Requirement for Own Funds and Eligible Liabilities Adopted by the European Commission

The European Commission adopted Regulatory Technical Standards on criteria relating to the methodology for setting the Minimum Requirement for Own Funds and Eligible Liabilities (MREL). MREL is the European equivalent of US TLAC. There…more

Intelligent Bio-Systems, Inc. v. Illumina Cambridge Ltd. (Fed. Cir. 2016)

Have you ever mixed up the obviousness determinations of "motivation to combine" and "reasonable expectation of success"? If so, you are apparently not alone -- the Federal Circuit recently faulted the Patent Trial and Appeal Board of…more

Cook County Circuit Court Dismisses 201 False Claims Act Lawsuits

At a hearing yesterday, Cook County Circuit Judge James Snyder granted the State of Illinois’ (State) Motion to Dismiss 201 Illinois False Claims Act (FCA) cases filed by the law firm of Stephen B. Diamond, PC (Relator) against…more

Safe or Good? We All Have Choices to Make

I planned to write about the inspired, better-than-sliced-bread security option of using fingerprint authentication to protect our mobile devices. That imploded. In 2014, and earlier this year, courts in Virginia and California…more

Also In the News - Data, Privacy, & Security Practice Report - May 2016 #2

K&S Client Alert: Third Try Is A Charm: Defend Trade Secrets Act Of 2015 Enacted Into Law—For the third consecutive year, Congress introduced legislation to create a federal civil cause of action for trade secret misappropriation…more

FDA releases long-awaited nutrition facts panel, serving size final rules: key changes to food labels

The FDA has released the long-awaited Nutrition Facts Panel and Serving Size Final Rules, after initially proposing the changes in March 2014. The associated label changes, which mark the first time since 1993 that the Nutrition Facts…more

Defence & Indemnity - April 2016: IV. PRACTICE ISSUES B.

B. Do police need a warrant to access the data on a vehicle’s airbag control module without the owner or driver’s permission? R. v. Fedan, 2016 BCCA 26, per Smith, J.A. [4176]…more

EU Legislation Amends Technical Standards for Ratio of Unexecuted Orders to Transactions

A Commission Delegated Regulation, outlining the Regulatory Technical Standards on ratios of unexecuted orders to transactions, was adopted by the European Commission. The adopted RTS will supplement the requirements set out in the…more

Preventing discrimination against Muslim and Middle Eastern employees

In the wake of recent terrorist attacks in Paris and San Bernardino, the Equal Employment Opportunity Commission (EEOC) has warned employers to be proactive and take measures against discrimination aimed at those who are, or are…more

The Wife’s Rights to a Dowry

In certain cases, standard form marriage certificates in the UAE can be altered to allow room for special conditions, like giving the woman the ability to petition for divorce. The special condition we will focus on here is the dowry…more

Growlers, Howlers, and More: Navigating the Licensure of a Brewery in Rhode Island

Amongst beer enthusiasts, craft beers have become increasingly popular throughout the country in the past decade. With the efforts of local brew enthusiasts, Rhode Island has actively sought to reduce the licensing requirements…more

U.S. Citizenship and Immigration Services (USCIS) publishes extension of Temporary Protected Status for eligible nationals of Honduras

On May 16, 2016, U.S. Citizenship and Immigration Services (USCIS) published an extension of Temporary Protected Status (TPS) for eligible nationals of Honduras and those without nationality who last habitually resided in Honduras for…more

FDA Accepts Samsung Bioepis’s BLA for Remicade® Biosimilar

Samsung Bioepis Co., Ltd., announced that the FDA has accepted its first biosimilar application submitted in the United States. The candidate, SB2, references Janssen’s Remicade® (infliximab), which treats several ailments, including…more

New Defend Trade Secrets Act Requires Employers to Include Disclaimers in All Confidential Information Agreements

On May 16, 2016, President Obama signed into law the Defend Trade Secrets Act of 2016 (DTSA). The new law takes immediate effect and will provide important new federal protections against unauthorized disclosure of proprietary and…more

What Do the Obama Administration’s Overtime Regulations Mean for California Employers?

On May 18, 2016, the U.S. Department of Labor (DOL) released its long-anticipated revisions to the federal overtime regulations governing the so-called white-collar exemptions to the federal Fair Labor Standards Act (FLSA). Most…more

Proposed Rule Would Promote the Use of Direct Testimony Affidavits in the New York Commercial Division

Justices in the Commercial Division of New York State Supreme Court would be expressly authorized to require parties to submit the direct testimony of their own witnesses in affidavit form in non-jury trials and evidentiary hearings…more

How to Draft an Effective Data Breach Incident Response Plan

The best way to handle any emergency is to be prepared. When it comes to data breaches, incident response plans are the first step organizations take to prepare. Furthermore, many organizations are required to maintain one…more

CAFC Affirms Finacea Gel Infringement Under Doctrine of Equivalents

In Intendis GmbH v. Glenmark Pharmaceuticals Inc., USA, the Federal Circuit affirmed the district court decision that found infringement under the doctrine of equivalents. This case shows that the doctrine of equivalents still lives…more

PTAB Institutes IPR on Humira Patent

As we previously reported, the PTAB instituted IPR on U.S. Patent 8,889,135, which is drawn to a method of treating rheumatoid arthritis (“RA”) with Humira®, a TNFa-inhibitor. Claim 1 is directed to “A method for treating rheumatoid…more

EEOC Issues Final Wellness Plan Rules

The Equal Employment Opportunity Commission issued final regulations on May 18, 2016 that place limits on financial incentives used in certain employer-sponsored wellness programs. The two rules issued under the ADA and GINA…more

The SEC, CCOs and Compliance Programs

Compliance programs, Chief Compliance Officers and liability have been the subject of a great deal of debate in recent months. Members of the Commission, for example, debated charging decisions regarding CCOs last year in comments that…more

New Jersey Bills Would Burden Employers with Scheduling and Pay Rules

Both the New Jersey General Assembly (A1117, reported out of committee on April 4) and Senate (S1397, introduced on February 11, 2016) have introduced bills to enact the “New Jersey Schedules That Work Act,” a law that would…more

DOL’s Increased Salary Test: What Employers Need to Know

For months, employers have been anxiously awaiting the Department of Labor’s (DOL’s) final rule on exemptions from overtime under the Fair Labor Standards Act (FLSA) and wondering whether the DOL would pass the rule as previously…more

Vermont AG Enters Largest Settlement With Online Payday Loan Processor

On May 20, the Vermont Attorney General announced a settlement with an Arizona processer of internet payday loans, resolving allegations that the company violated the state’s prohibition on unfair and deceptive acts in commerce. This…more

Department of Labor Issues Final Rule on Pay – Substantially Raising Minimum Salary Threshold to Qualify for Overtime Exemption

The minimum salary threshold for employees to be considered overtime “exempt” under the Fair Labor Standards Act (“FLSA”) will double beginning December 1 under a final rule announced this week by the U.S. Department of Labor. Under…more

DOL Issues Final Overtime Exemption Rules Doubling Minimum Salary as of December 1

On May 18, 2016, the federal Department of Labor’s Wage and Hour Division issued final regulations that dramatically increase the minimum salary required to claim exemption from the overtime provisions of the Fair Labor Standards Act…more

Mortgagees take note: the Law Commission thinks you might be special

The Law Commission recently published its consultation paper on updating the Land Registration Act 2002 (the Paper). Among the numerous proposals is one that will be of particular interest to mortgagees: views are invited on limiting…more

What Is Your Starting Salary? New FLSA Regulations Raise The Bar For U.S. Employers

Employers with salaried employees earning under $47,476 annually should evaluate the impact on their organizations of major changes to employee compensation following new federal wage requirements effective December 1, 2016. To be…more

Minnesota Supreme Court Addresses SOL in Construction Defect Suit

In the case of 328 Barry Avenue, LLC v. Nolan Properties Group, LLC, 871 N.W.2d 745 (Minn. 2015), the Supreme Court of Minnesota considered the statute of limitations under Minn. Stat. § 541.051, subd. 1, for actions “arising out of…more

“Freezing” of construction/reconstruction around “unprotected” “free-standing” monuments

The new protection zones around monuments are intended for the temporary protection of monuments for which preservation zones have not yet been established and which are not situated in the preservation zone of another monument (or…more

Federal Overtime Rules Weigh Heavy on Employers

The U.S. Department of Labor has released final rule changes significantly expanding overtime pay eligibility for salaried employees — raising the current overtime entitlement ceiling from $23,660 annually to $47,476. The move will…more

Bridging the Week - May 2016 #4

Two Related Broker-Dealers To Pay US $17 Million for Widespread AML Compliance Failures; Former AML Compliance Officer Also Sanctioned: Raymond James & Associates, Inc. (RJA), Raymond James Financial Services, Inc. (RJFS) and…more

New EEOC Rules for Wellness Programs: A 30 Percent Incentive = Voluntary

For years, employers have been allowed to offer voluntary wellness programs to employees under the Genetic Information Nondiscrimination Act (GINA) and the Americans with Disabilities Act (ADA). Both laws generally prohibit…more

Fourth Circuit Upholds Four-Year Front-Pay Award To Whistleblower

On May 20, 2016, the Fourth Circuit affirmed the decision of the ARB, finding that a former employee of Deltek, Inc. (Company) was retaliated against in violation of Section 806 of SOX and entitled to four years’ worth of front pay…more

USA vs. Europe: Patients Hang in Balance as Big Pharma Reports Drug Side Effects Differently to FDA, EMA

A newly published study shows that drugmakers are doing a disservice to patients by inconsistently reporting side effects of medications depending on whether the information is being filed with the U.S. Food and Drug Administration or…more

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