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Blog: Solvency II: the PRA on monitoring model drift & standard formula reporting for internal model firms

The UK’s Prudential Regulation Authority has published a brief Supervisory Statement, “SS15/16 Solvency II: Monitoring model drift and standard formula SCR reporting for firms with an approved internal model“. The PRA has long…more

A New Financial Consumer Framework – Does this Change Everything?

On October 25, 2016, Bill C-29, Budget Implementation Act, 2016, No. 2, received first reading. Division 5 of Bill C-29 will, if passed, consolidate the consumer provisions under the Bank Act. This is a result of successive…more

Yes, We Can (Order a Country to Suspend Criminal Prosecution and Extradition): Hydro v. Albania Redux

An update, if not an epilogue, to the Hydro v. Albania saga. As described in our prior post, the ICSID arbitration tribunal in that case had imposed interim measures directing the Albanian government to suspend its prosecution of two…more

SEC Proposed Rules on Universal Proxy Cards

At an open meeting held today, the Securities and Exchange Commission (SEC) voted 2 to 1 to propose amendments to the proxy rules relating to the use of universal proxy cards and require provision of additional voting options and…more

OSHA Postpones Enforcement of New Retaliation Provisions

The retaliation provisions of OSHA’s new “Improve Tracking of Workplace Injuries and Illnesses” rule are now scheduled to take effect on Dec. 1, 2016. OSHA states that the purpose of the rule is to intensify anti-retaliation…more

Ninth Circuit Affirms Denial Of Motion To Compel Arbitration For Lack Of Federal Jurisdiction

The Ninth Circuit affirmed a district court’s dismissal of a plaintiff’s RICO claim, and thus found the district court lacked independent federal jurisdiction to compel arbitration of the dispute under the Federal Arbitration Act…more

CFPB Mortgage Servicing Rules Published

With the Oct. 19. publication of the Consumer Financial Protection Bureau’s (CFPB) mortgage servicing rules in the Federal Register, the 12-month clock has started for lenders and servicers to implement most of the broad-range rules…more

Plaintiff Must Cooperate on Search Terms, Says Court: eDiscovery Case Law

In Pyle v. Selective Insurance Company of America, No. 2:16-cv-335 (W.D. Pa. Sept. 30, 2016), Pennsylvania Senior District Judge Terrence F. McVerry granted the defendant’s Motion to Compel Plaintiff to Provide ESI Search Terms…more

Deposition Horrors!

By Suzanne Quinson Image from Halloween is fast approaching, meaning zany costumes, yummy treats, Linus awaiting the Great Pumpkin, and horror stories! All attorneys, paralegals, and court reporters have a few of these. Read…more

Countries at a Glance: Australia - Employee Stock Purchase Plans

EMPLOYEE STOCK PURCHASE PLANS - EMPLOYEE STOCK PURCHASE PLANS: EMPLOYMENT - Labor Concerns - Employees may have rights to additional vesting or other benefits under the Plan in cases of involuntary termination. To reduce…more

Florida Supreme Court Rules Incorrect Denial of Insurance Benefits Can Trigger Award of Attorneys’ Fees to Insured

On September 29, 2016, the Florida Supreme Court held, in Johnson v. Omega Insurance Company (No. SC14-2124), that a homeowner is entitled to an award of attorneys’ fees after an improper denial of insurance benefits. The homeowner…more

The Crime-Fraud Exception Can Apply to Innocent Lawyers' Communications

The crime-fraud exception can strip away privilege protection from communications in which lawyers further their clients' future wrongful conduct. Under the majority approach, the adversary must (1) first meet a fairly low threshold…more

False Financial Statements Not Always Actionable

A Houston federal court recently held that neither an oil and gas company nor two of its directors were liable for federal securities fraud—and were not liable to shareholders—even though the company issued annual financial statements…more

Cordray remarks to MBA signal continued CFPB focus on servicing, likely petition for rehearing in PHH case

In his remarks at the Mortgage Bankers Association’s annual meeting in Boston on October 25, Director Cordray signaled that mortgage servicing will continue to be a focus of CFPB supervisory and enforcement activity, with the CFPB…more

Court Enjoins Several Parts of the Fair Pay & Safe Workplaces Final Rule

Over the last few months our Government Contracting and Labor & Employment teams have been breaking down the specifics about the Fair Pay & Safe Workplaces Final Rule and the corresponding Department of Labor guidance. As we explained…more

“Blacklisting” Executive Order Stayed by District Court Judge

On October 24th, 2016, United States District Judge Marcia A. Crone issued a preliminary injunction that suspends the implementation of certain portions of President Obama’s Executive Order 13673, called the Fair Pay and Safe…more

Timing Is Everything: Successful Joinder Motions At The PTAB

The joinder provisions of inter partes review (IPR) proceedings can be a great tool to circumvent the 1-year IPR filing deadline following service of a complaint for infringement. However, grant of a joinder petition by the Patent…more

Litigation Alert: The Fifth Circuit Limits Coverage under the Computer Fraud Provision of Insurance Policies

Last week, the U.S. Court of Appeals for the Fifth Circuit narrowed the conduct covered under an insurance policy’s computer fraud provision by vacating the judgment in favor of the insured, Apache Corp., and rendering judgment for the…more

Halloween Tax Alert: Beware of the IRS "Wealth Squad"

What’s scarier than zombies, clowns, or vampires? The dreaded Global High-Wealth Industry Group, a/k/a the IRS’s “Wealth Squad.” The Wealth Squad is comprised of highly-specialized examiners and other professionals whose sole job is to…more

OSHA’s “Perp Walks” for the Week of October 17th

OSHA has long bemoaned that the Occupational Safety and Health Act (“OSH Act”) does not allow OSHA to issue penalties sufficiently high enough to deter noncompliance. While reasonable minds can disagree about the sufficiency of the…more

Blog: Passive Investors: The Invisible Hand Of The Marketplace?

You might be interested in this article in the WSJ discussing the ascension to power-broker status of passive investors, such as index funds. The article contends that “leverage over America’s corporate boards… increasingly belongs to…more

Blacklist Regs Get a “Preliminary” Black Eye from the District Court in Texas

On October 24, 2016, U.S. District Court Judge Marcia Crone of the Eastern District of Texas granted a nationwide preliminary injunction enjoining implementation of the Fair Pay and Safe Workplaces regulations. In addition to…more

Ohio Supreme Court Rules Medical Malpractice Lawsuits Must Be Filed Within Four Years of Claimed Injury

Reminger Co., L.P.A. is pleased to announce that it successfully persuaded the Ohio Supreme Court to reverse the Eighth District Court of Appeals, in the case of Antoon v. Cleveland Clinic, Slip Opinion No. 2016-Ohio-7432. This appeal…more

DOT Issues Proposed Cybersecurity Guidance for Auto Industry

On Monday, October 24, 2016, the Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) issued proposed cybersecurity guidance to the auto industry, including auto manufacturers and designers and…more

Must-Have Skills to Demonstrate eDiscovery Competence

Technological competence is a key component of a lawyer’s ethical duties. But how can corporate and outside counsel, whose practice areas often involve substantive legal matters other than eDiscovery, comply with their duty of…more

Overview of New Section 385 Regulations

The IRS has issued final and temporary regulations under Code Section 385. These provisions, intended to limit earnings stripping, will enhance the IRS' ability to characterize related party ownership arrangements, purportedly…more

Changes in the Balance of Power: The Board Versus CEO

There is no doubt that corporate boards operate under greater scrutiny. The trend is clearly to hold boards and individual members accountable. But this is not the result of government prosecution; rather, this trend reflects increased…more

Request For Attorneys’ Fees Is Denied

The disputed technology relates to an apparatus for performing computer assisted microsurgery. The court previously found all asserted claims invalid for indefiniteness after a claim construction hearing. The parties stipulated to a…more

Oklahoma Federal Court Denies Injunctive Relief in Wind Farm Nuisance Suit

A recent decision in the U.S. District Court for the Western District of Oklahoma, Terra Walker et al. v. Kingfisher Wind, LLC, No. 5:14-cv-914-D, Doc. 160 (W.D. Okla. Oct. 13, 2016), could sound a death knell for nuisance suits…more

Blog: Cybersecurity Diligence in M&A Transactions: Lessons from Verizon/Yahoo!

Recently, in the midst of an M&A transaction involving Verizon and Yahoo!, news broke of a Yahoo! cybersecurity breach that had occurred approximately two years earlier. This event raised a lot of speculation around what effect the…more

Finally Some Sanity For Federal Contractors! Judge Issues Preliminary Injunction On Fair Pay & Safe Workplaces Rule

On the eve of the effective date, a federal judge granted a nationwide preliminary injunction, stopping implementation of the majority of the Fair Pay & Safe Workplaces Rule. As my colleague Jon Yarbrough recently reported, the…more

Trick Or Treat: Cookies And Consumer Privacy In Online Advertising

The proliferation of online goods and services means consumer data is available to those with a need or interest in possessing it. One method providers and third party partners employ to collect online consumer data is the use of…more

Watching the Detectives: The SEC Launches a Dedicated FINRA Oversight Unit

The SEC has launched a dedicated team to oversee FINRA, according to remarks by Marc Wyatt, Director of the SEC’s Office of Compliance Inspections and Examinations (“OCIE”). Congress has vested the SEC with the power to supervise…more

Countries at a Glance: Germany - Employee Stock Purchase Plans

EMPLOYEE STOCK PURCHASE PLANS - EMPLOYEE STOCK PURCHASE PLANS: EMPLOYMENT - Labor Concerns - In order to reduce the risk of German employment law restrictions applying to purchase rights granted to German employees, it…more

Limitation and foreign follow-on actions

Two recent attempts to hedge limitation risk in follow-on claims by commencing proceedings in the UK High Court and the UK Competition Appeal Tribunal have failed. The Tribunal ruled that a claim, based on foreign law, brought before…more

Post-Petition Lenders: Does Your Super-Priority Claim Trump Post Conversion Expenses?

Key points: While DIP Lenders rightfully negotiate for super-priority administrative expenses which trump post conversion chapter 7 administrative expenses, these provisions are not uniformly enforced. DIP Lenders…more

Important Changes to HEAR Act Preserve New York’s Demand and Refusal Rule (For Now)

The Holocaust Expropriated Art Recovery (HEAR) Act of 2016 has been pending for several monthsnow, and was recently recommended favorably by the Senate Judiciary Committee in September. The bill would create a uniform six-year statute…more

OSHA Clarifies Its “Just Say No” to Automatic Post-Accident Drug-Testing Position

How do employers reconcile automatic drug-testing required by workers’ compensation laws with the provisions of OSHA’s new Rule saying that automatic testing could be retaliatory? Following our recent blog on that issue, many of our…more

E-Discovery Nightmares: 5 Experts Share Tales of Redactions, Huge Data Sets, and Things That Go Bump in the Night

Now that the days are growing short, and the summer sun gone, leaving us with overcast skies and wind driven mists clinging to the rain-soaked hills, the mood is set for telling stories of ghouls, goblins, and other specters that haunt…more

Chair Jenny R. Yang's Remarks at the Annual Meeting of the President's Interagency Task Force to Monitor and Combat Trafficking in Persons

Thank you, Secretary Kerry. Thanks to members of the Advisory Council, to the Presidential Award recipients, and to everyone in the room for your leadership on this issue. When workers are trafficked, they may also be victims of…more

Sometimes it’s about control

As a retirement plan provider, you meet a potential client and you just do so well in the meeting that you think there should be no way that you’re going to lose this prospect. Yet you get the call that a competing provider got the job…more

Moore v. Mercer – What Defendants in Personal Injury Cases Need to Know

Although the amount a medical finance company pays for a lien might be relevant evidence of the value of services provided to an injured plaintiff, courts have discretion to exclude such evidence if it is minimally probative and…more

The 2016 Election and Your Healthcare System: What’s at Stake?

Regardless of the 2016 general election outcome, a new administration will have to respond to pressing policy issues that will shape continued transformation of the U.S. healthcare system. What are the issues and where do presidential…more

Sierra Pacific v. Bradbury goes unchallenged: Colorado’s six-year statute of repose begins when a subcontractor’s scope of work ends

It’s official: the October 20, 2016 deadline to petition for certiorari to the Colorado Court of Appeals on its decision in Sierra Pacific Industries, Inc. v. Bradbury has passed, so it appears that decision will stand. In Sierra…more

Countries at a Glance: Canada - Employee Stock Purchase Plans

EMPLOYEE STOCK PURCHASE PLANS - EMPLOYEE STOCK PURCHASE PLANS: EMPLOYMENT - Labor Concerns - To reduce the risk of potential claims from employees that they have entitlements under a Plan, the Plan and related agreements…more

Seventh Circuit Holds that FDAAA Does Not Affect Mensing/Bartlett Preemption

When we first set foot on the University of Chicago Law School campus back in 1982, Chicago sports were a mess. But quickly – certainly more quickly than our ability to grasp the Rule in Shelley’s Case, Last Clear Chance, or the…more

FTC and DOJ Issue Guidance on Application of Antitrust Law to Employee Hiring and Compensation

On Thursday, October 20, 2016, the U.S. Federal Trade Commission (FTC) and the Department of Justice Antitrust Division (DOJ) jointly released Antitrust Guidance for Human Resources Professionals (guidance) to explain how antitrust law…more

Clinton or Trump? On Energy, the Choice Is Natural Gas

Natural gas will be the clear winner whether you vote for Hillary Clinton or Donald Trump in the upcoming presidential election. While their proposed energy plans are widely different—Clinton is calling for major investments in…more

Ad hoc Local Leniency Application Makes the Difference: The Italian Council of State Upholds the Administrative Court of Lazio Judgment on the Alleged International Road Freight Cartel

On 20 October 2016, the Italian Council of State (the “Council of State”) upheld the judgment of the Administrative Court of Lazio (“TAR”) on the cartel in the sector of international road freight forwarding to and from Italy and…more

Court finds Onionhead a religion in reverse religious discrimination case

Many of you who read the headline about “Onionhead” being considered a religion in the context of a discrimination case may have guffawed or shaken your head in disbelief. The 102-page opinion by U.S. District Court Judge Matsumoto in…more

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Eric Bardwell focuses his practice in the area of trust and estate planning. Prior to joining Lane Powell, Eric was a senior associate at WTAS, where he implemented estate planning, charitable…

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