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Swap Dealer Banks Win Six Month Phase-In for Variation Margin Requirements for Most Counterparties

U.S. swap dealer banks received much needed breathing room, but not complete relief from the March 1, 2017 variation margin (VM) deadline for swaps and security-based swaps. On February 23, 2017, the Federal Reserve Board (FRB) and…more

Defamation Law Series: Massachusetts District Court Tosses Katherine McKee’s Claims Against Bill Cosby

Last week, on February 16, 2017, the United States District Court for the District of Massachusetts dismissed Katherine McKee’s claims against Bill Cosby in McKee v. Cosby. McKee was among the women who alleged that Cosby had…more

Plainfield Repeals Local Pay-to-Play Ordinance

New Jersey is home to a multitude of overlapping pay-to play laws. The State has a default statute covering pay-to-play restrictions at the municipal level. In 2006, however, the State Legislature allowed municipalities to craft their…more

Justice Department Sets Standards for Evaluation of Corporate Compliance Programs

Since the Department of Justice’s (“DOJ”) announcement of its new compliance counsel expert in November 2015, many have been waiting patiently for additional insight into the DOJ’s emphasis on corporate compliance programs. In April…more

CMS Teleconference to Discuss SNF Value-Based Purchasing Program (March 15)

On March 15, 2017, CMS is hosting a call to discuss the Skilled Nursing Facility (SNF) Value-Based Purchasing (VBP) Program, which is scheduled to begin in fiscal year 2019. The call will focus on confidential quarterly feedback…more

Is the Border Tax Crossing the Line?

It is far too early to discern the extent of any change to the relationship between the U.S. and Mexico in the face of the oft-repeated insistence of the Trump campaign to “renegotiate” NAFTA, a promise that was reiterated once Mr…more

In Which Direction Will President Trump Take The Gig Economy?

President Trump has spent much of the first month of his presidency embroiled in controversy over his immigration policies. His economic proposals – part and parcel of his campaign – have taken a backseat to attempts at immigration…more

Blog: 2017 M&A Trends Series: Appraisal Risks Factor High

So far this year, deal parties are approaching M&A with cautious optimism. This series of Cooley M&A blog posts include some brief observations that offer some M&A highlights over the past year and our thoughts for the year to…more

CMS Proposes Changes to Stabilize ACA Health Insurance Markets

At the same time Republican Congressional leaders are attempting to develop legislation to repeal and replace the Affordable Care Act (ACA), CMS has published a proposed rule that is intended to help stabilize the Affordable Insurance…more

Transparency International Publishes “Top Secret: Countries Keep Financial Crime Fighting Data to Themselves”

On February 15, 2017, Transparency International (“TI“) published the above report, recommending that national authorities engage to a greater level in making public disclosure of their countries’ anti-money laundering (“AML“)…more

Duggan’s new D-Insurance plans will be great for the auto accident lawyers, but terrible for everyone else

Does Mayor Duggan want to ‘repeal and replace’ Michigan’s auto No Fault law? Does Detroit Mayor Mike Duggan want to scrap Michigan’s auto No Fault law? Last night, during his State of the City address, the mayor signaled…more

Privacy Tip #75 – Yes-those Tech Support Scams are Really Scams

My friends and family frequently ask me about the newest scams so they can stay vigilant and keep on top of the latest ways fraudsters are trying to get our information. But many times, my friends and family alert me to scams that…more

Actors’ Ages to Remain Available Online (At Least for Now)

A federal court has granted IMDb’s request for a preliminary injunction to allow the entertainment website to keep actors’ ages in their online profiles – despite the enactment of a statute in California prohibiting same…more

Queen For A Day: If I Ran The World, Would I Scrap Our Employment Laws?

For those of you who don’t know Mr. Olson, he’s a libertarian. :-) I have to admit, I needed time to process this! I complain about these laws all the time, but would I really want to get rid of all protections for employees who…more

Second District Court of Appeal Declines to Apply Statute of Limitations to Bar Subsequent Foreclosure Actions Premised on Original Default and “All Subsequent Payments”

Following the Florida Supreme Court’s recent decision in Bartram v. U.S. Bank, N.A., 41 Fla. L. Weekly S493, 2016 WL 6538647 (Fla. Nov. 3, 2016), courts were left to interpret how Bartram would affect lenders’ reliance on breach…more

Non-Compete News - New York Will Not Stop Fired Employees from Competing

A company that terminates an employee — even if it offers the employee the chance to apply for a position with the company’s successor — cannot enforce restrictive covenants over that employee, a New York appeals court recently held…more

U.S. Tax Reform – Border Adjustment Proposal: Current Status, and How Your Company May Be Affected

On 24 June 2016, the Republican Speaker of the U.S. House of Representatives, Paul Ryan, and House Ways and Means Chairman Kevin Brady released a sweeping "Blueprint" proposal to reform the U.S. tax code. A critical component of the…more

Florida's SIU Tool Belt Is a Bit Lighter Today

Florida has been plagued with insurance fraud for decades.  All insurance coverages are susceptible to fraud, but scams are especially prevalent in the context of automobile accidents.  Staged crashes, patient brokering, kickbacks to…more

Yahoo Data Breach Update: A Third Notification + Shareholders Sue

Last week, Yahoo issued another warning to some of its customers telling them that their personal information may have been compromised in a data breach. This is the third notification to Yahoo users that their information has been…more

Maryland Issues Revised Proposed Rules for Servicing Transfers

The Maryland Commissioner of Financial Regulation recently issued a revised proposed regulation impacting servicing transfers. The Commissioner previously issued proposed regulations on this topic in January 2015. This revised proposal…more

With Supreme Court Review Looming, Feds Issue Immediate Withdrawal of Previous Title IX Guidance

Following the recent confirmations of Secretary of Education Elizabeth Devos and Attorney General Jeff Sessions, the new Trump administration has moved quickly to withdraw prior guidance concerning discrimination of transgender…more

LGBT Rights Up in the Air

Changes that may impact LGBT rights in the workplace have employers spinning. This week’s news about the Trump administration’s rescission of federal guidance allowing transgender students to use bathrooms corresponding to their gender…more

A Host of Biometric Privacy/Facial Recognition Bills Currently Circulating in State Legislatures

We’ve written extensively about the numerous lawsuits, dismissals and settlements surrounding the Illinois Biometric Information Privacy Act (BIPA). The statute, generally speaking, prohibits an entity from collecting, capturing…more

Court declines to enjoin Dept. of Education termination of recognition status of college accrediting organization challenging CFPB CID

In December 2016, the Secretary of Education issued a decision adopting the decision of the Department of Education’s Senior Department Official terminating and withdrawing the Department’s recognition of the Accrediting Council for…more

FCC Enforcement Monitor ~ February 2017

Pillsbury’s communications lawyers have published FCC Enforcement Monitor monthly since 1999 to inform our clients of notable FCC enforcement actions against FCC license holders and others. This month’s issue includes: - FCC…more

New Filing Date for Foreign Bank Account Return

If you have a foreign bank account (or signatory authority on a foreign bank account), you are required to file a Form 114 (commonly called an FBAR) if at any point during the calendar year the combined balance in all of your foreign…more

The Defend Trade Secrets Act of 2016: A Year Later By The Numbers

It has been almost a year since the Defend Trade Secrets Act of 2016 (DTSA) took effect. Since Forbes Magazine called the DTSA the “Biggest IP Development in Years,” we thought it might be helpful to take a look at how often litigants…more

Supreme Court Special Master Recommends Denial of Florida Water Rights Complaint Against Georgia

Florida and Georgia have been fighting for decades about flows in the Apalachicola, Chattahoochee and Flint River Basin (ACF Basin) that provide drinking water for the City of Atlanta, as well as water for agriculture in southwest…more

Clues and Cases from Alexander Acosta’s NLRB Tenure

Seyfarth Synopsis: A review and analysis of select NLRB cases decided by President Trump’s new appointee as Secretary of Labor and former NLRB Member Alexander Acosta…more

Exemptions for Security-Based Swaps

On February 10, 2017, the Securities and Exchange Commission (SEC) extended to February 11, 2018 the expiration dates of certain interim final rules relating to “exemptions under [various securities laws] for those security-based swaps…more

Mortgage Servicer Defeats Class Certification Over Collection Practices Allegedly Targeting Discharged Mortgage Debts

The Middle District of Florida recently denied a plaintiff’s motion for class certification concerning claims that a collection agency illegally and intentionally sent collection correspondence to mortgagees whose debts already had…more

Report: Insurance and structured finance - a new dawn?

A growing trend is emerging within the insurance sector, where insurers and other users of insurance products are looking to structured finance solutions both from an investment and risk management perspective…more

Wonder the Goldendoodle Service Dog Isn’t the Question, Exhaustion Is

A U.S. Supreme Court decision handed down Wednesday goes much further than whether a Michigan kindergartener can bring Wonder, her goldendoodle service dog, to school or not. The Court determined the family of the kindergartener…more

"Recent Court of Appeals Decision Provides Hope for Taxpayers Fighting for Congressionally Sanctioned Tax Benefits"

For the second time in just over a year, the U.S. Court of Appeals for the Sixth Circuit reversed the United States Tax Court and affirmed the right of a taxpayer to structure its affairs in a manner that takes into account tax…more

Bank Whistleblower Suits Highlight Limits of Employee Confidentiality Agreements

Employers increasingly face the difficult scenario of employees who misappropriate company data in the pursuit of whistleblower claims alleging misconduct by the employer. Such cases can present a complex mix of regulatory…more

Bare Statutory Violation of FCRA Fails to Satisfy Standing Requirements Post-Spokeo, Says District of New Jersey in Suit Over Michaels Employment Disclosures

Michaels escaped a potential class action alleging Fair Credit Reporting Act (“FCRA”) violations late last month when a federal judge found the United States Supreme Court’s recent decision in Spokeo, Inc. v. Robbins, 136 S. Ct. 1540…more

Illinois Federal Judge Awards Treble Damages and Attorneys’ Fees in Kurt Vonnegut-Fueled Opinion

On February 10, 2017, an Illinois federal judge determined that R-Boc Representatives violated an injunction issued following a jury trial on their alleged patent infringement. In a unique opinion replete with quotations from, and…more

Sometimes Plan Sponsors just want to throw you off their “scent”

When you meet retirement plan sponsors just at different networking events and they find out that you’re a retirement plan provider, they may volunteer that their retirement plan is in perfect shape. As we know as retirement plan…more

Hug It Out at Work? Maybe Not in the Ninth Circuit

When does workplace hugging go too far? The Ninth Circuit Court of Appeals recently weighed in with an opinion. Victoria Zetwick, a county correctional officer, based her Title VII hostile work environment suit almost entirely upon her…more

Paid Rejection: Bankruptcy Court Allows Professional Fees Despite Trustee’s Flawed Strategy

Can a bankruptcy court deny fees requested by a professional simply because her client chose a poor strategy? The Bankruptcy Court for the District of Idaho recently rejected such a notion, holding that an accounting professional that…more

5 Important Estate Planning Lessons for Parents in Manchester by the Sea

When released in late 2016, Manchester by the Sea, directed by Kenneth Lonergan and starring Casey Affleck, received nearly unanimous critical acclaim for exploring themes related to family, personal tragedy, and grief. For estate…more

CMS Releases Proposed 2018 Medicare Advantage/Part D Reimbursement Methodologies and Policies

CMS has released its 2018 Advance Notice and Call Letter, which outline proposed updates to Medicare Advantage (MA) and Part D plan reimbursement methodologies and policies. CMS notes that it its proposed policies focus on four major…more

CIT rules on Made in USA claim

A recent ruling by the U.S. Court of International Trade (CIT) has important implications for importers and manufacturers making “Made in USA” claims for products assembled from imported components. While the case concerned compliance…more

Unauthorized Downloading and Copyright Infringement

Liability for copyright infringement can result when one downloads protected software without the copyright owner’s authorization. The Ninth Circuit was recently tasked with exploring the scope and reach of copyright protection in…more

SEC to Consider Requiring Inline XBRL Reporting and Comments on Disclosures in the Financial Services Industry

The SEC has issued a notice of a meeting to consider: Whether to propose amendments to rules and forms to require the use of the Inline XBRL format for the submission of operating company financial statement information and mutual…more

Horse-trading Your Way to a Better Compliance Program

On this day in 1836, Colonel William Barrett Travis issued his now famous call for help on behalf of the Texan troops defending the Alamo. It has gone down as one of the great cries for freedom-loving peoples everywhere. The plea was…more

Medical Device Alert – Finalised texts of the new EU Regulations on medical devices and in-vitro diagnostic medical devices are out

On 22 February 2017, the Council of the European Union issued the final versions of the draft texts of the European Union (“EU”) Medical Device Regulations (“MDR”) and the In Vitro Diagnostics Regulation (“IVDR”)…more

Big Changes in Pennsylvania for LLCs, LLPs, LPs, and GPs

A major overhaul and modernization of the laws governing unincorporated associations in Pennsylvania took effect Tuesday. Act 170 of 2016, signed into law in November and currently being tracked by Barley Snyder attorneys, amends…more

Potential Relief for Employee Option Exercises

Employees must generally recognize income for tax purposes upon the receipt of employer stock to the extent that the fair market value of the stock received is greater than the amount, if any, paid by the employee for the stock. If the…more

This Week In Securities Litigation

NERA issued a report this week on Canadian class actions. Although the number of those actions filed last year increased compared to the year before, over the last several years the number of securities class actions filed in Canada…more

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