Latest Updates

Three Fund Issues That Can Unexpectedly Impact Portfolio Company Investments

Increasingly complex fund structures and documentation mean that analysing how potential portfolio acquisitions interact with the fund at the top of any deal structure is more important now than ever. Investor Excuse Rights for… more

Municipalities Under Connecticut's New Cybersecurity Strategy

On July 10, 2017, Governor Dannel Malloy, along with Chief Information Officer Mark Raymond and Chief Cybersecurity Risk Officer Arthur House, released Connecticut’s initial Cybersecurity Strategy. The goal of the Cybersecurity… more

Minnesota Tightens Restrictions on “Drive-By” Disability Access Lawsuits

On May 23, 2017, Minnesota Governor Mark Dayton signed into law amendments to the Minnesota Human Rights Act (MHRA) that are intended to curb the flood of “drive-by” disability access lawsuits in the state. The law now requires… more

Trademark Office Issues Tequila Certification Mark Just In Time For National Tequila Day

National Tequila Day is celebrated on Monday, July 24. Tequila is made with the distilled extract of the blue agave plant, which grows in and around the city of Tequila and other parts of the state of Jalisco, Mexico. Although agave… more

Commercial building efficiency opportunities

A report prepared for the U.S. Department of Energy by the Pacific Northwest National Laboratory found that the nation's commercial building sector has significant potential to save energy by improving control measures and eliminating… more

New Maine Law Limits Manufacturer and Wholesaler Interactions with Health Care Professionals

Maine recently amended its Pharmacy Practice Act to prevent licensed manufacturers or wholesalers and their agents from offering or giving certain gifts to practitioners. The bill’s sponsor tied the issue of gifts from manufacturers… more

German Government Increases Foreign Investment Oversight

Changes to the German Foreign Trade and Payments Ordinance (Außenwirtschaftsverordnung – FTPO) will impact certain cross-border transactions. Key Points: ..The changes, which entered into force on 18 July 2017, allow the German… more

SEC Chairman Clayton Talks Cyber Threats And Responses

On July 12, 2017, U.S. Securities and Exchange Commission Chairman Jay Clayton made his first public speech as head of the Commission, emphasizing the need for coordination between companies and regulators to thwart cyber attacks… more

Senate Timing Uncertain on Revised Better Care Reconciliation Act of 2017

On July 13, 2017, the Senate released its revised Affordable Care Act (ACA) repeal and replace bill, the Better Care Reconciliation Act of 2017 (BCRA), along with updated summaries (Titles I and II, and Title III) of the legislation… more

Recent case law update: Treatment of Trust Assets — Akers (and others) v. Samba Financial Group (2017)

The English Supreme Court has delivered a ruling that provides helpful guidance on the enforceability of trusts in respect of assets located in foreign jurisdictions that do not recognise trusts. The ruling also highlights potential… more

People with significant control regime: expanded scope and more regular reporting

Changes to the UK's regime for the disclosure by companies of their significant controllers (the PSC regime) took effect on 26 June 2017. The changes ensure that UK legislation is compliant with the EU's Fourth Anti-Money Laundering… more

The End of Days (Or At Least LIBOR)

You know, sometimes life’s problems smack you against the side of the head like a 2×4, and sometimes it’s just a multiplicity of middling offenses that become so annoying that you might just want to roll over and die. Think anything… more

The Case Of The Wholly Owned, But Not Totally Held, Subsidiary That May Or May Not Be 100% Owned

When someone says that a subsidiary is “wholly owned”, I believe that the common understanding is that the parent company owns all of the issued and outstanding equity of the subsidiary. What if the statement is that the subsidiary is… more

M&A Watch: That’s the Way the Cookie Crumbles – Delaware Court Rejects MAE Claim in Commercial Contract Litigation

The Delaware Court of Chancery recently reaffirmed its approach to Material Adverse Effect jurisprudence in the context of a commercial arrangement. Please see full Analysis below for more information… more

Ensuring appropriate confidentiality in arbitration: guidance for arbitrators and parties alike

A recent case, Symbion Power LLC v. Venco Imtiaz Construction Co [2017] EWHC 348 (TCC), highlighted two issues which touch on confidentiality in arbitrations: (1) the confidentiality of communications from an arbitrator to a party; and… more

[Video]Day 12 of One Month to More Effective Internal Controls-Board Oversight as an Internal Control

Is a Board of Directors a compliance internal control? I think the clear answer is yes. In the FCPA Guidance, in the Ten Hallmarks of an Effective Compliance Program, there are two specific references to the obligations of a Board in a… more

DHS Continues Focus on Border Security With Enhanced Aviation Security Measures

On June 28, 2017, Secretary of Homeland Security John Kelly announced the implementation of enhanced security measures for all commercial flights arriving in the United States. These enhanced procedures are set to affect 280 airports… more

US Supreme Court Says No to Post-Sale Restrictions Under Patent Law

The Court also holds that patent exhaustion applies to both foreign and domestic sales in a historic decision. Key Points: ..Patent rights are exhausted by sale even if the patentee purports to impose post-sale… more

Phishing Moves to SMiShing

Phishing, the fraudulent practice of sending emails purporting to be from reputable companies in order to induce individuals to reveal personal information (such as passwords and credit card numbers) is something that we have grown… more

USCIS Adopts AAO Decision Setting Accreditation Guidelines for H-1B Master’s Cap Eligibility

On May 23, 2017, U.S. Citizenship and Immigration Services (USCIS) issued a policy memorandum adopting the Administrative Appeals Office’s (AAO) decision in the case Matter of A-T-Inc. The adopted decision establishes binding policy… more

Trademarks and Unfair Competition

It is my pleasure to present the second issue of our bulletin this year, which contains interesting and important information on trademarks, unfair competition and, in this issue, personal data. There have been big changes in personal… more

Federal Circuit Patent Updates - July 2017

Millennium Pharmaceuticals v. Sandoz Inc. (No. 2015-2006, 7/17/17) (Newman, Mayer, O'Malley) - Newman, J.Reversing and vacating judgments of invalidity for obviousness in consolidated appeals… more

MiFID II: Multilateral Trading Venues and Systematic Internalisers

MiFID II will significantly increase the regulation of most types of secondary market trading activities and functions. It will introduce a new multilateral trading venue, known as an Organised Trading Facility (OTF), and extend the… more

Congress of Colombia issues normativity for the promotion of technology-based companies

On July 6, 2017, the Congress of the Republic enacted Law 1838 of 2017, which seeks to promote technology and innovation through the creation of technology-based companies (or Spin-offs). For the purposes foreseen in this specific… more

Surprise Opposition Sinks the Better Care Reconciliation Act; New Vote on "Repeal-and-Delay" Uncertain to Advance

On Monday evening, July 17, Senators Mike Lee (R-UT) and Jerry Moran (R-KS) issued joint statements in opposition to the Better Care Reconciliation Act (BCRA), the Senate Republicans' companion bill to the House-passed American Health… more

Your Top 3 Questions about Motorcycle Accidents in California Answered

When motorcycle accidents happen in California, riders and their passengers can be more than seriously or permanently injured. They can also be killed. Between lost wages, medical expenses, and the loss of the motorcycle, it can be a… more

You're Always a Day Away: DSCSA Product Identifier Requirements Delayed

In recently issued draft guidance related to the implementation of product identifiers under the Drug Supply Chain Security Act ("DSCSA"), FDA has stated that it intends to exercise enforcement discretion for a period of one year… more

Negligence liability: parent and subsidiary companies

The High Court has considered the circumstances in which a parent company may be liable to third parties in negligence for the acts or omissions of its subsidiary… more

Big Changes For Large Employers: Oregon Legislature Passes Fair Work Week Act

Recently, the Oregon legislature passed Senate Bill 828, known as the Fair Work Week Act, which will dramatically change how covered employers schedule workers. Governor Brown is expected to sign the law soon… more

U.K’s Financial Conduct Authority to Examine Investment Platform Service Providers

On July 17, 2017, the Financial Conduct Authority (FCA) announced that it will explore whether investing platforms help investors make good investment decisions, and whether their investment products offer investors value for their… more

Weekly Update Newsletter - July 2017 #2

FEDERAL AGENCIES - “VA Veteran-Owned Small Business Verification Guidelines.” Federal Register, July 12, 2017. Retrieved from federalregister.gov. Department of Veterans Affairs (VA) published a final rule in the Federal Register… more

Arrested Development: Ship Released from Arrest Despite Pending Appeal

In Platypus Marine, Inc. v. TATU (TATU), the Federal Court of Canada (Court) ordered that the defendant ship be released from arrest because there was no outstanding judgment. Although the plaintiff was appealing a judgment dismissing… more

Washington State Imposes New Reporting Requirements for Out-Of-State Sellers Not Collecting Sales Tax

As part of Washington State’s efforts to collect more sales tax on out-of-state companies’ sales to Washington customers, the Legislature recently enacted H.B. 2163. The bill, signed by the Governor on July 7, imposes notice and… more

New EU Prospectus Regulation published

The EU Prospectus Regulation (the Regulation), which will replace the current Prospectus Directive, has been officially published. A couple of the Regulation's provisions will apply from 20 July 2017, while most of it will apply from… more

Indiana Relaxes Telemedicine Rules as of July 1

Indiana’s relaxed telemedicine rules went into effect July 1. Generally, under the new rules a prescriber (defined as a physician, physician assistant, advanced practice nurse, optometrist, or podiatrist) may prescribe non-controlled… more

MA Employers Beware: Employees Have a Right to Use Medical Marijuana

In a recent decision, the Massachusetts Supreme Judicial Court has made it clear that employers cannot take action against employees who lawfully uses medical marijuana, as doing so is tantamount to denying a request for a reasonable… more

Titleist Trademark Tarnishment?

During today’s first round of the Open Championship at Royal Birkdale, many a golf ball bearing the famous TITLEIST cursive script will be lofted into the heavens – meanwhile, back on the ground, the brand’s owner is attempting to… more

New Guidance Issued by EU Data Protection Regulators – Does Your Organization Use Social Media During Recruitment?

The Article 29 Data Protection Working Party (comprising representatives from the data protection regulators in each EU Member State, the European Data Protection Supervisor and the European Commission) has issued an opinion on data… more

Blog: Will The House Now Try To Undo SOX?

What’s next for the House after taking on Dodd-Frank in the Financial CHOICE Act? Apparently, it’s time to revisit SOX. The Subcommittee on Capital Markets, Securities, and Investment of the House Financial Services Committee held a… more

Revocation of Consent Under the TCPA

The Telephone Consumer Protection Act (TCPA) was enacted as a consumer protection measure against companies that engage in telemarketing practices. The basic principle of the TCPA is that it seeks to prohibit a company from making “any… more

Don’t give medical device makers more time before disclosing product woes

Pro-business and anti-consumer lawmakers in Congress are racing to slacken rules for medical device makers to report problems with their products. This move may imperil more patients, many of whom already have been harmed and some… more

FTC Continues to Implement Reform Agenda; Aims to Reduce Burdens of and Improve Transparency in Commission Investigations

The Federal Trade Commission (FTC or the Commission) announced a wave of reforms this week in line with Acting Chairman Maureen K. Ohlhausen’s mission to “aggressively” implement a Trump administration directive aimed at eliminating… more

Removing an arbitrator is an extreme remedy

You might not like an arbitrator's order or an award, but you cannot seek to remove the arbitrator unless their actions have caused or might lead to substantial injustice… more

Defining A “Bona Fide Relationship” – The Latest With Trump’s Travel Ban

On July 6th, we covered the United States Supreme Court decision regarding President Trump’s travel ban. That Order limited the entry of foreign nationals and refugees based on an individual’s “bona fide relationship” with an entity or… more

Could Supreme Court Case on Debt Recharacterization Provide a Pathway Out of the Stern v. Marshall Maze?

The Supreme Court recently granted certiorari in PEM Entities LLC v. Levin, in which it will decide whether federal or a state law should apply when a debt claim held by a debtor’s insider is sought to be recharacterized in bankruptcy… more

One Strike and You’re Out—Third Circuit Holds a Single Severe Incident Sufficient to Establish a Harassment Claim

The United States Court of Appeals for the Third Circuit held on July 14, 2017 that a single severe incident of harassment may give rise to a claim of workplace harassment in Castleberry v. STI Group, No. 16-3131 (3d Cir. 2017)… more

Tree-Preservation Ordinances in Texas Municipalities May Constitute Regulatory Takings

Texas Attorney General Ken Paxton issued an opinion on July 14, 2017 concluding that municipal tree-preservation ordinances in Texas may, in certain unspecified factual circumstances, constitute a regulatory taking under the Federal… more

Queens Speech: UK company law Brexit and beyond

As widely expected, Brexit-focused legislation dominates the legislative programme outlined in the Queen's Speech on 21 June… more

CMS Considers New Billing Code Policy for Biosimilars

Last week, the Centers for Medicare & Medicaid Services (“CMS”) issued a proposed rule regarding payment policies. Among other things, the proposed rule included a request for comment on the policy for biosimilar reimbursement… more

Company’s Reaction to Claim of Unequal Pay Provides Lessons for Employers

Complaints of unequal pay should not be taken lightly, and certainly should not be met with an immediate adverse employment action. The U.S. Court of Appeals for the Eighth Circuit recently reinstated a female office worker’s equal pay… more

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