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Trial of Art Dealer Accused of Tax Fraud and Money Laundering by French Tax Authorities Ends With Judgement of Acquittal

On 12 January, the Paris Criminal Court acquitted Guy Wildenstein, who was facing the possibility of two years in prison and a €250 million fine, and other members of his family as well as their trustees and advisors who were also…more

United States to Lift Sanctions Against Sudan

On January 13, 2017, the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) issued a Final Rule, announcing that it would amend the Sudanese Sanctions Regulations to authorize all transactions previously prohibited…more

Simplified tax regime under Trump might obviate current workarounds, experts say

Marc M. Stern, an estate planning partner at Greenberg Glusker, was quoted in a Daily Journal article published on January 11, 2017, about the potential for a system under Trump in which exotic accounting methods to reduce tax burdens…more

California Court of Appeal Holds Doing Business ? Any Activity Engaged In for Pecuniary Gain

On January 12, 2017, the California Court of Appeal held in a published opinion that a taxpayer passively holding a 0.2 percent interest in a California-based limited liability company (CA LLC) was not “doing business” in the state for…more

2017 Financial Industry Regulatory Priorities - OCIE and FINRA Announce Examination Areas of Focus

In early January, both the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) and FINRA announced their examination priorities for 2017. As in previous years, both the SEC and FINRA share many examination priorities, a…more

The Notion of “Ecological Prejudice” Now in the French Civil Code

With the Biodiversity Law n°2016-1087 of August 8, 2016, the French Civil code now formally recognises “ecological prejudice” (préjudice écologique) as a category of indemnifiable damage. The move is symbolically significant and builds…more

Another Round! – Second Set of Changes to Liquor Code Take Effect on January 16, 2017

Although short of complete liquor privatization in Pennsylvania, 2016 saw some of the most significant changes to the Commonwealth’s liquor laws in decades. In June of 2016, House Bill 1690 went from a bill that was dead in the water…more

Florida State Agencies Secure $28 Million Coordinated Settlement With Online Payday Lender

On January 12, 2017, the Florida Attorney General’s Office (Florida AG) announced that it and the Florida Office of Financial Regulation (Florida OFR) had entered into coordinated settlements with an online payday lender and its…more

Ex parte Itagaki and Nishihara (PTAB 2016)

A great deal of angst has been generated by the Patent Trial and Appeal Board's decision, in Ex parte Itagaki and Nishihara, regarding the panel's application of Section 101 (sua sponte as a new ground of rejection under 37 C.F.R. §…more

False Labeling Lawsuits Get Hung Up On Faulty Damages Models

Food companies have several significant defenses to consumer fraud class actions over product labeling, say attorneys Joshua Briones and Crystal Lopez, and analyst Grace Rosales. The authors focus on damages, an area in which…more

U.S. Supreme Court Grants Certiorari To Evaluate Class Waivers Under the National Labor Relations Act

The U.S. Supreme Court decided today to consider related cases addressing whether arbitration agreements containing class action waivers violate employee rights under the National Labor Relations Act (“NLRA”). The National Labor…more

Department of State Releases February 2017 Visa Bulletin

No change in Dates for Filing chart again; scant advancement in Final Action Dates chart. The US Department of State (DOS) has released its January 2017 Visa Bulletin. The Visa Bulletin sets out per-country priority date cutoffs…more

Simple Steps to Help Keep Your Trade Secrets Safe

As illustrated by the recent lawsuit by America’s Test Kitchen against celebrity chef Christopher Kimball, companies in a variety of industries are vulnerable to losing their trade secrets…more

OSHA’s New Electronic Reporting and Anti-Retaliation Rule Challenged By Industry Groups in Oklahoma

Seyfarth Synopsis: Business organizations have once again brought suit against OSHA’s new electronic reporting and retaliation rule, arguing that the proposed online database violates employers’ First and Fifth Amendment rights and…more

Headed for Overtime? Trump Administration Will Decide Fate of New Time-and-a-Half Rule

If you're an employee and you work more than 40 hours a week, you typically have the right to receive time-and-a-half overtime pay for those extra hours…more

Commercial Division Advisory Council Releases New Video on The New York Commercial Division

A short new video, entitled A Forum for Business Disputes: The Commercial Division of the Supreme Court of the State of New York, has recently been released. The film was produced by the Court System’s Commercial Division Advisory…more

Employee W-4 Forms

Employers are required to obtain a signed IRS Form W-4 when hiring a new employee. Although Form W-4 is revised each year by the IRS to reflect current tax rates, exemption amounts, etc., the form remains valid until an employee…more

Plan Sponsors Sued Over Fees on Multiple Plans and Vendors

In a very novel retirement fee lawsuit, a plan sponsor is being sued over the cost of multiple plans and the use of multiple record-keepers…more

C’est La Vie: No ‘Right to Disconnect’ in U.S., But Non-Exempt Workers Must Be Paid for ‘Connected’ Time

Could a “right to disconnect” become law in the U.S.? France is trying it. Effective January 1, a new French law went into effect giving workers a “right to disconnect” when not at work. French employers with 50 or more employees have…more

Maritime Cybersecurity Regulation on the Horizon

Over the past year, various institutions and organizations—both domestic and international—have shown an interest in moving the increasingly prevalent cybersecurity conversation offshore. Domestically, both Congress and federal…more

CFPB Consent Orders with Consumer Reporting Agencies Focus on Marketing Practices not Credit Reporting

Marketing practices remain at the forefront of CFPB activity as evidenced by two recent consent orders entered into with TransUnion and Equifax. The consent orders combine to require the CRAs to pay more than $17.6 million in…more

The Difference Between Being Right and Doing Right

Not long ago I wrote about the Securities and Exchange Commission’s recent enforcement actions against companies that include pretaliation clauses in their employment contracts. I posted the article online, and one compliance…more

Judge Cuts Over $10M from Attorney Fees Due to Use of Temporary Attorneys for Document Review: eDiscovery Case Law

The use of temporary associates for document review (and billing at normal staff associate rates) caused a federal judge in Manhattan to reduce the request for attorney fees by $10.3 million in a settlement of a securities case against…more

The Joint Commission Bans Text Messaging for Patient Care Orders

The Joint Commission, which accredits hospitals and other health care organizations, recently announced it will not permit hospitals and other health care organizations to use secure text messaging platforms to transmit orders. The…more

Kentucky Passes Right-to-Work Law: FAQs on What This Means to Kentucky Employers and Their Employees

Kentucky has passed House Bill 1, the Kentucky Right to Work Act, making Kentucky the 27th state to adopt right-to-work legislation…more

California Environmental Law & Policy Update - January 2017 #2

Environmental and Policy Focus - U.S. Supreme Court to hear Clean Water Act jurisdictional dispute - Reuters - Jan 13 - The U.S. Supreme Court today agreed to resolve a dispute over which court should handle…more

Members of EU High-Level Expert Group on Sustainable Finance Appointed

The European Commission announced the membership composition of the High-Level Expert Group on sustainable finance. The purpose of the Expert Group is to provide recommendations for a comprehensive EU strategy on sustainable finance as…more

European Banking Authority Requests Extension for Delivery of Draft Technical Standards under EU Capital Requirements Legislation

The European Banking Authority published a letter, dated December 23, 2016, in which it requests an extension of time from the European Commission for delivering certain draft technical standards which were due to be delivered by…more

The NSR Regulations Still Make No Sense: The 6th Circuit Reverses the DTE Decision Based on a 1-Judge Minority Opinion

Last week, the 6th Circuit Court of Appeals reversed – for the second time – a District Court decision granting summary judgment to DTE Energy in the United States’ case alleging that DTE Energy had violated EPA’s NSR regulations…more

Weekly Update Newsletter - January 2017 #2

GOVERNMENT CONTRACTS - Federal Acquisition Regulation; Federal Acquisition Circular 2006-95 - This Federal Acquisition Circular provides a summary presentation of final rules issued by the Department of Defense (“DOD”), the…more

Ukraine: Unified registry of debtors officially launched (Ukrainian)

In the beginning of January 2017, the Unified Registry of Debtors (hereinafter, “the Registry”) has been officially launched. ?he Registry should contain the information about debtors under enforcement proceedings, which were commenced…more

Ukraine: Unified registry of debtors officially launched

In the beginning of January 2017, the Unified Registry of Debtors (hereinafter, “the Registry”) has been officially launched. ?he Registry should contain the information about debtors under enforcement proceedings, which were commenced…more

NLRB Joins Other Federal Agencies in Combatting Retaliation

Several federal agencies have joined forces to release a joint Fact Sheet highlighting the various anti-retaliation provisions of the workplace laws these agencies enforce. “Retaliation Based on the Exercise of Workplace Rights is…more

Financial Regulatory Reform in the Trump Administration

Summary - With the inauguration of President-elect Trump less than a week away, there is considerable speculation regarding what legal changes are in store for the financial services industry in the next administration. During his…more

The Basics of 1031 Exchanges - Part One

This is part one of a two-part series on Internal Revenue Code Section 1031 Tax-Deferred property exchanges. This first article will provide an overview of the rules that govern 1031 exchanges. Part two will deal with the complex 1031…more

Probate Inventory: A Public Listing of Assets

When I first posted about Prince’s estate, I did not intend to continue providing updates. However, as administration of the estate continues, more and more opportunities arise to discuss how things could have been handled differently…more

A Privacy Shield Replaces a Safe Harbor for the Swiss, Too

US companies with employees or clients in Switzerland will be interested to hear that the new Swiss-US Privacy Shield was approved on 11 January. Although Switzerland is not a member of the European Union, its data protection law…more

D.C. Council Approves New Paid Parental, Family, and Medical Leave Act

On December 20, 2016, the D.C. Council approved, by a vote of 9 to 4, a wide-ranging new paid leave system that applies to private employers in the District of Columbia. The Universal Paid Leave Act of 2016 is a bill that will allow…more

Michigan Governor Signs Law Excluding Library Taxes from Capture by Tax Increment Financing Entities

On Jan. 9, 2017, Michigan Governor Snyder signed into law a package of bills, all with immediate effect, that would exempt certain taxes levied for library purposes from being captured by tax increment financing authorities, including…more

SEC Chair Urges Continued Efforts on Global Accounting Standards

Outgoing Securities and Exchange Commission (SEC) Chair Mary Jo White has urged her successor and the SEC to continue to pursue high-quality, globally accepted accounting standards “as one of its highest priorities.” In a January 5…more

HHS Publishes Final Rule for 340B Drug Program Ceiling Prices and Civil Monetary Penalties

On January 5, 2017, the HHS Health Resources and Services Administration (HRSA) published a final rule updating the price structure that drug manufacturers participating in the 340B Drug Pricing Program may charge to covered entities…more

ITAR Guide for the Firearms Industry

The U.S. firearms industry is regulated under the National Firearms Act, Gun Control Act and other federal and state firearms laws. However there is another important area of regulation that applies to the firearms industry as well –…more

TTB Publishes a Federal Register Notice Adjusting the Civil Monetary Penalty under ABLA

On January 10, 2017, TTB published a Federal Register notice adjusting the civil monetary penalty imposed for violations of the Alcohol Beverage Labeling Act of 1988 (the ABLA). The ABLA requires the labels of alcohol beverages sold in…more

Supreme Court to Review BPCIA -- Amgen v. Sandoz Petitions for Writs of Certiorari Granted

On Friday, the Supreme Court granted both petitions for writs of certiorari and consolidated the Sandoz v. Amgen (No. 15-1039) and Amgen v. Sandoz (No. 15-1195) appeals. Sandoz had petitioned the Court on February 16, 2016 for a writ…more

Kokesh v. SEC—US Supreme Court Set to Decide SEC Disgorgement Circuit Split

Supreme Court grants certiorari to clarify whether Section 2462’s five-year limitation period applies to SEC disgorgement claims. The US Supreme Court granted certiorari to settle a circuit split in the US courts of appeals over…more

Uncertain Seas: European Financial and Regulatory Developments into 2017

Charting New and Dangerous Waters - Lloyd George and Epictetus may be long gone but their words have much resonance with the events of 2016. The political fallout from the UK’s vote to leave the European Union (“EU”) was…more

Supreme Court to Review Validity of Class Action Waivers in Employment Arbitration Agreements

The U.S. Supreme Court has agreed to decide whether class action waivers in employment arbitration agreements violate the National Labor Relations Act. The Supreme Court’s action promises the much-anticipated resolution of the circuit…more

Delay to Finalizing Basel III

The Basel Committee on Banking Supervision announced that it had, along with the Group of Central Bank Governors and Heads of Supervision, made progress towards completing the Basel Committee’s post-crisis regulatory reforms, known as…more

Corporate and Financial Weekly Digest - Volume XII, Issue 2

2017 Examination Priorities Announced by the SEC - On January 12, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released its 2017 examination priorities, which seek to address:…more

Simplified procedure for initiating bankruptcy by the legal successors of banks

In October 2016, the Chamber for Commercial Disputes at the Supreme Court of the Russian Federation considered the cassation appeal of Eurasian Trading Company LLC (hereinafter – the Trading Company) in Case ? ?57-16992/2015 against…more

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