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Sustainable Development Update - December 2016 #2

Sustainable Development Focus - Stanford unveils innovative solar generating station - Stanford News Service - Dec 5 - It was a cold, blustery day in Rosamond, California, but spirits were high in a small…more

Getting the Deal Through — Electricity Regulation 2017: Germany

1 Policy and law - What is the government policy and legislative framework for the electricity sector? Since 2005 Germany’s electricity industry has been regulated in accordance with European standards, based on the EU…more

"Federal Regulator Signals Willingness to Grant National Bank Charters to Fintech Companies"

On December 2, 2016, the Office of the Comptroller of the Currency (OCC) announced its willingness to entertain applications from financial technology (fintech) companies for special purpose national bank charters. In recent years, the…more

Government Contractors Should Not Fear Contract Termination Over Twitter #ComplicatedRegulations #CostlyTerminationProvisions

Carrier. UTC. Boeing. Swamp-draining rhetoric. While many ponder what America can expect from the next administration, one thing is clear – it appears to have its eyes on government contractors. However, it is important for those eyes…more

Navigating Connected Cars in 2017

It’s a fact: today’s marketplace has given connected cars the green light. As an OEM or supplier accelerating to create products to meet industry demand, what challenges can you anticipate in 2017? Here’s one area we think you should…more

Director of Manufacturing Policy Initiative Sought

Indiana University’s Manufacturing Policy Initiative (Initiative) has announced a candidate search for the first full-time Director of the Initiative. The Manufacturing Policy Initiative seeks to analyze how public policies affect the…more

California’s $20B Problem: Obamacare Repeal Threatens 4M Californians

The repeal of the Affordable Care Act (ACA) could ultimately cost California as much as $20 billion in annual federal spending on the state’s Medicaid program, Medi-Cal. Putting this in perspective, $20 billion represents nearly 18% of…more

Human v. Mouse

What conceivable correlation exists between class actions and pests? No, it’s not that. At least not for Jeanne Steigerwald. Hers was a story that started, she claimed, when she noticed “mice droppings in her pantry…more

Some Thoughts for Maine Employers on Marijuana Legalization

If we assume that the Question 1 referendum recount does not change the outcome, Maine’s 128th Legislature will begin the process of hammering out a new statutory regime to accompany legalization in 2017. At the present time, no…more

President-Elect Trump Announces the New Secretary of Labor

Today, President-elect Donald Trump announced Andrew Franklin (Andy) Puzder, 66, chief executive officer of CKE Restaurants, as his choice for Secretary of the U.S. Department of Labor. In 2016, Puzder was a Trump presidential…more

Guidelines for Retaining a Forensic Investigator

Many competent IT departments lack the expertise, hardware, or software to preserve evidence in a forensically sound manner and to thoroughly investigate a security incident. In-house counsel needs to be able to recognize such a…more

Final Rule Implementing MACRA

On October 14, 2016, the Centers for Medicare and Medicaid Services (CMS) released its final rule (the “Final Rule”) implementing the Medicare Access and Children’s Health Insurance Program (CHIP) Authorization Act of 2015 (MACRA)…more

Commercial Mortgage Loans and CMBS: Developments in the European Market – Chapter 1

Commercial real estate (CRE) is a tremendously important asset, as the content of this book will discuss. However, the CRE lending and commercial mortgage-backed securities (CMBS) markets are, at the time of writing, largely…more

Celltrion and Hospira Have Launched Inflectra® in U.S.

This past April, the FDA approved Inflectra® (infliximab-dyyb), Celltrion and Hospira’s biosimilar of Janssen’s Remicade®. According to papers filed in the Federal Circuit this week, Celltrion and Hospira (collectively, “Celltrion”)…more

Dole’s “All Natural” Description On Certain Fruit Products Could Mislead Reasonable Consumers

A recent decision from the Ninth Circuit has highlighted the uncertainty that exists in the food product market about the use and definition of “All Natural” in labeling and advertising. In Brazil v. Dole Packaged Foods, LLC, 2016…more

Fifth Circuit Agrees to Fast Track Overtime Appeal

On December 8, 2016, the U.S. Court of Appeals for the Fifth Circuit announced that it will fast track the appeal of a nationwide preliminary injunction that blocks the U.S. Department of Labor (DOL) from implementing its revisions to…more

This Week In Securities Litigation

The Supreme Court handed down its much anticipated decision in Salman this week, essentially reaffirming its seminal decision on illegal tipping in Dirks. In affirming the Petitioner’s conviction the Court rejected his contention that…more

Fairmont: SCC Revises Common Law Test for Tax Rectifications

In a 7-2 decision in AG (Canada) v. Fairmont Hotels Inc., the Supreme Court of Canada has modified the common law test for rectification where the taxpayer has suffered an unintended and adverse tax result. The Court also clarified the…more

When Is a Rule 54(B) Certification Appropriate?

Recently, opposing counsel asked if we would stipulate to Rule 54(b) certification of a particular order granting/denying summary judgment on some but not all of plaintiffs’ claims. Of course, we thought this would make a great topic…more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Special Purpose National Bank Charters for FinTech Companies - On December 2, 2016, Comptroller of the Currency, Thomas J. Curry, announced that the Office of the Comptroller of the Currency…more

ECON Agrees Compromise Amendments to STS/Risk Retention

The European Parliament’s Committee on Economic and Monetary Affairs (“ECON”) has today agreed compromise amendments (the “Compromise Amendments”) to the proposed EU regulation intended to lay down common rules on securitisation and…more

New Life For Opinions Of Counsel In Patent Litigation

After 2007, the value of obtaining an opinion of counsel when confronted with claims of infringement reached a historical low. Federal Circuit case law made such evidence, which generally relates to the subjective state of mind of an…more

Your Daily Dose of Financial News

A NY state court threw out Ace Decade Holdings’ suit against UBS accusing the Swiss lender of fraud for its $500 million investment loss in a Chinese company. The court found that jurisdictional issues plagued plaintiff’s claims…more

Ontario Bill Proposes to Create “Health and Safety Management System” under OHSA

The Ontario government has introduced legislation that seeks to, among other things, provide for the establishment of employer “health and safety management systems” under the Occupational Health and Safety Act…more

Supreme Court Lowers Burden in Insider Trading Prosecutions

On December 6, 2016, the U.S. Supreme Court issued its first insider trading decision in nearly two decades unanimously affirming the Ninth Circuit and holding that an insider’s “gift” of confidential information to a “trading relative…more

Who Owns a Noise – Should Data Collected in a Public Space by a Private Company be Generally Accessible to the Public?

While law enforcement have access to new technology owned by third parties that assist them with protecting the public, questions arise as to who should own the data gathered by that technology. Sometimes, it is the technology provider…more

OCC Proposes to Grant National Bank Charters to Financial Technology Companies

For the first time, the Office of Comptroller of Currency (OCC) will allow financial technology (fintech) companies to apply for national bank charters. The OCC has invited public comment on the concept with a deadline for submitting…more

Hearing Aid Deregulation to Affect Wireless Device Industry and Create Compatibility Issues

Within the last week, both the U.S. Senate and the U.S. Food and Drug Administration (FDA or the Agency) have taken significant steps to deregulate a large portion of hearing aid devices. Despite the benefits that hearing aid…more

I Believe in Father Christmas and Internal Controls for Gifts in the Holiday Season

Rock and roll heaven got another power player this week as Greg Lake died on December 7th. He was one-third of the greatest prog rock trio Emerson, Lake & Palmer (aka ELP). With apologies to Patrick Hays and all you Rush-heads out…more

New Executive Branch Gift Rules Released: New Action Required Before Executive Officials Can Attend Banquet Dinners

The Office of Government Ethics (OGE), the agency within the executive branch that oversees conflict of interest compliance, recently published revised gift rules applicable to executive branch employees that become effective January…more

The MACRA Final Rule: 10 Things You Need to Know

The Centers of Medicare and Medicaid Services (CMS) released the much-anticipated Medicare Access and CHIP Reauthorization Act (MACRA) final rule this month. The rule makes extensive changes to traditional Medicare Part B…more

USDA Proposes Overhaul of Nutrition Facts Panel for Meat and Poultry Products

Earlier this month, the United States Department of Agriculture (USDA), Food Safety and Inspection Service (FSIS) issued a proposed rule to overhaul the nutrition facts panel for meat and poultry products. FSIS issued its proposal in…more

The “French Bribery Act” That is Soon to be Enacted

The last version of the “French Bribery Act” gives more shape to the new provisions of the law and confirms that it contemplates to substantially change the legal anti-corruption scope in France. Since March 2016, French…more

OCAC Publishes Report on Voluntary Disclosure Program

The Offshore Compliance Advisory Committee (OCAC) has published its report on the CRA’s Voluntary Disclosure Program, the first of several anticipated OCAC reports in furtherance of the OCAC’s mandate to provide advice to the Minister…more

CFPB enters into consent orders with reverse mortgage companies to settle alleged advertising violations

The CFPB announced that it entered into consent orders with three reverse mortgage companies to settle the CFPB’s allegations that the companies engaged in deceptive advertising in violation of the Mortgage Acts and…more

FTC Complaint Made Against Genesis Toys and Nuance Communications

On December 6, 2016, The Electronic Privacy Information Center, The Campaign for a Commercial Free Childhood, The Center for Digital Democracy and Consumers Union filed a Complaint and Request for Investigation, Injunction and Other…more

DOJ and FTC Advocate Broader Approach to FERC’s Market Power Evaluation under Sections 203 and 205 of the Federal Power Act

On November 28, 2016, the Department of Justice (“DOJ”) and the Federal Trade Commission (“FTC”) (together, the “Agencies”) submitted comments on the Federal Energy Regulatory Commission’s (the “Commission” or “FERC”) September 22…more

What a Trump Administration Could Mean for the 340B Drug Program

A Republican White House and a Republican-run Congress could bring significant changes to the 340B Drug Pricing Program (“the 340B program”). Many in Washington believe that the new administration and Republicans in Congress will favor…more

Clean Power Plan's Future in Jeopardy Under Trump

During his campaign, President-Elect Donald Trump vowed to scrap President Obama's Clean Power Plan (CPP) rule. The CPP is the cornerstone of President Obama's environmental legacy. The rule establishes the first national standards to…more

Court Order to U-Haul: Haul Your Non-Compete Clauses Out of California

A California appellate court recently upheld a permanent injunction in Robinson v. U-Haul Company of California barring U-Haul from enforcing its non-compete covenants in California. U-Haul also was required to pay over $800,000 in…more

Going the Distance: The Expanding Lifecycles of Private Equity Funds

The lifecycles of private equity (PE) funds are lengthening as managers continue to seek longer fundraising periods. This is due to a number of factors, including increases in due diligence and holding periods for investments as well…more

Arbitration World

From the Editors - Welcome to this 33rd edition of Arbitration World. Following the United Kingdom’s referendum decision on 23 June to leave the EU, in this edition we examine how the uncertainty over the treatment of English…more

Restaurant and Business Leader Andy Puzder Picked to Lead the DOL

President-elect Donald Trump has formally named Andy Puzder as his choice to be the next Secretary of Labor. Currently the CEO of CKE Restaurants, the parent company to several fast-food chains, Puzder is a long-time advocate for job…more

Close but no cigar? What’s different about the T-4 Capacity Market auction results of 2016?

They say a picture is worth a thousand words, so rather than writing a lengthy post on the results of the provisional four-year ahead GB Capacity Market Auction, published on 9 December 2016 by National Grid, we are focusing on two…more

The Year In Review: SEC Enforcement Actions Against Investment Advisers

The Securities and Exchange Commission’s enforcement program is highly focused on investment advisers for an obvious reason: they manage more than $67 trillion in assets for approximately 30 million clients. In addition, because the…more

Paid Sick Leave: Coming to a Town Near You

You are likely familiar with the Healthy Workplace Healthy Family Act of 2014 (“AB 1522”), which entitles California employees to use at least 24 hours of paid sick leave per year and caps accruals at 48 hours. However, you may not…more

Six Crucial Points About the Prohibition on Chinese Investors' Acquisition of U.S. Aixtron Operations

On December 2, President Obama, acting under the Exon-Florio law, blocked the planned acquisition by China's Fujian Grand Chip Investment Fund LP ("Fujian Grand Chip"), a Chinese investment fund, of the U.S. operations of German…more

An Early Holiday Boost to Low-Wage Silicon Valley Workers?: San José Passes “Opportunity to Work” Ordinance and Accelerates The City’s Minimum Wage Increase

The New Year will bring significant changes to the local employment laws affecting Silicon Valley-area employers, with measures aimed at reducing the expansion of the part-time workforce and increasing the minimum wage…more

Illinois Passes Sweeping Energy Legislation

On December 7, 2016, Illinois Governor Bruce Rauner signed into law broad-reaching legislation popularly known as the Future Energy Jobs Bill (Public Act 99-0906), the largest state energy action since Illinois deregulated its power…more

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