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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

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

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

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

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

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

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

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

CFTC’s Division of Swap Dealer and Intermediary Oversight Issues Time-Limited No-Action Transition for March 1, 2017 Compliance Date for Variation Margin and No-Action Relief From Minimum Transfer Amount Provisions

On February 13, 2017, the U.S. Commodity Futures Trading Commission (the “CFTC“) announced that, between March 1, 2017 and September 1, 2017, it would “not recommend an enforcement action against a swap dealer (SD) for failure to…more

OFAC Increases Civil Monetary Penalties

On February 10, 2017, the U.S. Treasury Department announced an increase in civil monetary penalties across a number of Treasury offices, including the Office of Foreign Assets Control (OFAC). Understanding the potential penalties for…more

FCC Announces Details for Mobility Fund Phase II

The FCC adopted an order today that establishes Phase II of the Mobility Fund. As we have previously reported, the FCC established the Mobility Fund to provide universal service subsidies to help expand and preserve 4G LTE mobile…more

Finalized New York Department of Financial Services Cybersecurity Regulation to Take Effect March 1

On February 16, 2017, the New York Department of Financial Services (NYDFS) announced the release of its finalized Cybersecurity Requirements for Financial Services Companies (“Cybersecurity Regulation”), which will take effect on…more

How Effective is Your Anti-Money Laundering Program?

At the end of January, Western Union agreed to pay the United States government $586 million to resolve allegations that it failed to maintain an effective anti-money laundering program under the Bank Secrecy Act and aided and abetted…more

CMS Schedules 2017 Meetings to Consider HCPCS Code Applications

CMS has just announced the dates for its annual meetings to discuss pending applications for new and revised HCPCS codes: - May 16 – 18, 2017: Drugs/Biologicals/Radiopharmaceuticals/Radiologic Imaging Agents - June 7 – 8…more

FCC Finalizes Criteria for CAF Phase II Auction

Yesterday the FCC approved an order that moves the nearly two billion dollar Connect America Fund (CAF) Phase II Auction competitive bidding process forward. As we have previously reported, the Phase II auction will provide support…more

DJI Drone Manufacturer Hit with Class Action Lawsuit Over Firmware Update

Last week, a class action law suit was filed against leader in the drone industry, DJI Technology, Inc. (DJI), for an allegedly harmful firmware update that occurred in December 2015 that rendered certain commercial drones in its…more

Blog: Corp Fin Refines Its Position On Proxy Access Fix-It Proposals

Corp Fin has refined its position with regard to exclusion of proposals to amend existing proxy access bylaws. As you may recall, the line drawn so far by Corp Fin has been that, where the shareholder proposal related to initial…more

Trumpdate: Tons of employment-related stuff!

The employment law week in Trumpland started out a little slow, but now we’re back in business. Acosta looking good for confirmation as Secretary of Labor. In contrast to nominee Andrew Puzder, the outlook appears good for his…more

New York Institutions: Exemption from Cybersecurity Regulations Sought by Bond Granted in Final Regulations Issued by Department of Financial Services

Last month, Bond, Schoeneck & King sought an exemption from cybersecurity regulations proposed by the New York State Department of Financial Services (DFS) for colleges, universities and other charitable organizations that would have…more

Reducing the Regulatory Stranglehold on Federally Facilitated Exchanges: Will It Work?

The Centers for Medicare and Medicaid Services (CMS) recently issued a proposed rule aimed at improving the individual and small group markets that have been plagued with instability as issuers continue exiting the Exchanges. While the…more

SEC Staff Provide New Custody Rule Guidance

On February 21, 2017 the Securities and Exchange Commission (the SEC) released new guidance concerning when a registered investment adviser is deemed to have “custody” for purposes of Adviser’s Act Rule 206(4) (the Custody Rule) in a…more

Of Public Schools and Private Employers: Trump Reverses Direction on Male, Female and Gender Neutral Restrooms

Employers are caught, once again, between agency pronouncements and White House actions. While President Trump commented on the campaign trail that transgender people should “use the bathroom they feel is appropriate,” he appears to…more

Don't Be Penny Wise and Pound Foolish - Advice for New Employers Regarding Employee Classifications

Entrepreneurs wear many hats, from providing a quality product or service to managing employees. New employers frequently expose themselves to liability when they think that ignorance is a defense that they can use if an employee files…more

Don’t Get Hooked! W-2 Phishing Scams on the Rise During Tax Season

Tax season can be a trying time of the year for any employer, but even more so now. As HR Departments across the country are working hard to distribute W-2 forms to employees, cybercriminals are using increasingly sophisticated…more

Connecticut Governor Dannel Malloy Instructs Connecticut Public Schools to Follow Withdrawn Federal Guidance regarding Transgender Students

Yesterday, in response to the withdrawal of federal guidance relating to the rights of transgender students, Connecticut Governor Dannel Malloy instructed Connecticut public schools to continue to follow the withdrawn guidance, pending…more

Is your contract management letting you down?

When disputes arise on projects, the parties will turn to the terms of the contract in order to ascertain their contractual rights and obligations to assist them in resolving the dispute. Too often parties have relied on the commercial…more

KPMG Issues 2017 Global Audit Committee Pulse Survey

Recently, KPMG released its 2017 Global Audit Committee Pulse Survey, which reports on audit committee activities based on survey responses from 800 audit committee members across 42 countries. Asking, "Is Everything Under Control?,"…more

A Tale of Attorneys’ Fees

The backdrop is simple: Mistras Group operates a business that evaluates the structural integrity of energy, industrial and public infrastructure. Two plaintiffs brought a class and collective action against Mistras in the Northern…more

The Administration’s 2017 Trade Agenda

In this post-election period of sharp partisan division, perhaps no issue unites both the Republican and Democratic bases like opposition to recent U.S. trade policy. President Trump campaigned hard on the notion that “free trade”…more

Supreme Court Limits § 271(f)(1) Overseas Infringement Reach: More than One Exported Component Required for Offshore Manufacturing Liability

The US Supreme Court held in Life Techs. Corp. v. Promega Corp., Slip No. 14-1538 (Feb. 22, 2017) that supplying a single component of a multi-component invention manufactured abroad does not give rise to patent infringement liability…more

Improper Assignment of THE EMERALD CITY Mark – Registration Cancelled in Toto

Assignment of an intent-to-use trademark application can be fraught with risk. To deter “trafficking” in ITU applications, Section 10 of the Lanham Act prohibits the assignment of an ITU application before an amendment to allege use…more

Five things you should know about the detention and seizure of aircraft

The Civil Aviation Act 1982 sets out the powers available to airport authorities to detain an aircraft if the aircraft operator fails to pay airport charges (such as landing fees, general terminal fees or other charges related to the…more

U.S. Department of Commerce Establishes Favorable Export Control Policies for India

On January 19, 2017, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) published a final rule (the “Rule”) making two significant changes to U.S. export control policy with respect to India. First, the Rule…more

Oil & Gas Related Bills Introduced in the 2017-2018 Legislative Session

February 17, 2017 marked the deadline by which legislators had to introduce bills for the first half of the 2017-2018 Legislative Session. The Stoel Rives’ Oil & Gas Team has been and will continue to monitor bills throughout the…more

A Deceased Can't Always Will What They Want

There is a common misconception that the testator is free to leave their estate to anyone they choose. While this is largely true, certain family members who were left out or feel they were inadequately provided for under a will do…more

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