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Read need-to-know updates, commentary, and analysis on Labor & Employment issues written by leading professionals.

Related-Party Provisions Prevent Deduction by S Corp Shareholders - Tax Update Volume 2017, Issue 4

by Pepper Hamilton LLP on

Many routine transactions occur between related parties, including the payment or accrual of interest on indebtedness, license fees, salary or benefits to employees and/or shareholders, and trade invoices. The Tax Court...more

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation - Q&A on IRA Transactions

by Carlton Fields on

Previously, I wrote about potential litigation under the Department of Labor’s then proposed fiduciary rule (see Expect Focus, Vol. II, 2015). I predicted the following as to sales of index annuities to IRAs if the rule was...more

Structured Thoughts: News for the financial services community, Volume 8, Issue 6

Canadian Bail-in and TLAC Rules: Impact on Structured Notes Offered in the United States - Introduction - In June 2017, the Canadian government released draft regulations relating to “bail-in instruments” issued by...more

New SEC Chair Announces Guiding Principles

In remarks before the Economic Club of New York, new SEC Chairman Jay Clayton discussed eight guiding principles: Principle #1: The SEC’s mission is our touchstone. Investors and capital markets will suffer if the SEC...more

WPI Insider Briefing: Workplace Policy under the Trump Administration Begins to Take Shape as "Repeal and Replace" of the ACA...

by Littler on

Five months into President Trump's term, his administration's workplace policy is beginning to take shape. From notable developments at the Department of Labor (DOL), to long-awaited nominations to the National Labor...more

Supreme Court to Decide Circuit Split on Dodd-Frank Whistleblower Protection

by Saul Ewing LLP on

In late June, the Supreme Court granted certiorari in Digital Realty Trust Inc. v. Paul Somers, No. 16-1276, to review whether Dodd-Frank whistleblower protection applies to employees who only report securities law violations...more

Supreme Court to Determine State Court Jurisdiction of Class Actions Under Securities Act of 1933

On June 27, the Supreme Court granted certiorari in Cyan Inc. et al. v. Beaver County Employees Retirement Fund et al., agreeing to weigh in on whether state courts have jurisdiction to hear class action lawsuits brought...more

Supreme Court Upholds Strict Time Limit in Federal Securities Class Actions

On June 26, 2017, the Supreme Court issued a 5-4 decision in California Public Employees’ Retirement System v. ANZ Securities, Inc., et al. (“CalPERS”) (No. 16–373, 2017 WL 2722415) (U.S. June 26, 2017), holding that the...more

Employee Benefits Developments - June 2017

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of June, 2017. Click through the links below for more information on each specific development or case....more

Supreme Court Rules American Pipe Doesn't Toll 3-Year Limit on Securities Claims

On June 26, 2017, the U.S. Supreme Court issued a decision that will have a significant effect on securities class action litigation, changing the strategic calculus for both institutional plaintiffs and defendants. In...more

Employers May Regret Forcing Dodd-Frank Whistleblower Test

While the U.S. Supreme Court may take a narrow view of the Dodd-Frank Act’s protections for whistleblowers by limiting them to those who report violations to the SEC, experts say such a decision could be a “Pyrrhic victory”...more

Supreme Court to Determine Scope of Whistleblower Protection

A percolating issue with respect to the SEC’s whistleblower regulations is whether the anti-retaliation protections apply only when suspected misconduct is reported to the SEC, or whether the protections also apply when the...more

Department of Labor Secretary Acosta Announces Partial Implementation of the Fiduciary Rule

On May 22, 2017, Department of Labor (DOL) Secretary Alexander Acosta announced in an op-ed in the Wall Street Journal that the DOL will not issue another delay of the “fiduciary rule,” set to become generally effective on...more

TechConnect - Your Law Firm Link to Industry News - June 2017

by Mintz Levin on

Seniority Matters - There is little doubt that activity in the trading of secondary shares of private companies remains robust. Private companies are staying private longer and there seems to be an unlimited demand to buy...more

Fifth Circuit Reverses Mississippi District Court’s Interpretation of “Ambiguous” Language to Nullify Defense Within Limits...

by Carlton Fields on

Insurance policies that include the cost of defending a particular claim or action within the policy’s limit of liability, often referred to as “burning,” “eroding,” or “defense within” limits policies, are common in the...more

Finally in Play: A Refresher on the Fiduciary Rule for Plan Sponsors

by Akerman LLP - HR Defense on

On the heels of Labor Secretary Alexander Acosta’s announcement that the Department of Labor’s oft-delayed “Fiduciary Rule” would finally take effect on June 9th, Congressmen introduced new legislation on June 8th to overturn...more

The DOL’s Fiduciary Rule Takes Effect Without Further Delay

The Secretary of Labor, John Acosta, announced recently that no further delays will apply to the Department of Labor’s new Fiduciary Rule on investment advice conflicts of interest and related prohibited transaction...more

DOL Fiduciary Rule Still a Go for June 9, but its Future Remains Uncertain

by Littler on

United States Department of Labor (“DOL”) Secretary Alexander Acosta recently announced that the final DOL fiduciary regulations (the “Fiduciary Rule”) will go into effect on June 9, 2017. In an op-ed in the Wall Street...more

Fifth Circuit Enforces Reimbursement Provision in One-Page Welfare Plan

The Fifth Circuit upheld the reimbursement and subrogation terms found in a welfare benefit plan’s one-page SPD that also served as the plan document. Plaintiff, a plan beneficiary, received $71,644.77 from the plan to cover...more

DOL Fiduciary Rule Taking Effect June 9 Is Low-Calorie, But Still Hard for Some to Swallow

by Cozen O'Connor on

Though many in the financial services industry were hoping for a reprieve, anyone who receives compensation for providing investment advice in connection with an ERISA plan or IRA will be considered a fiduciary effective June...more

EB-5 Visa Program: All That Glitters Is Not Gold

by Akerman LLP - HR Defense on

Concerns over the EB-5 “Gold” visa have been revived since Senior White House advisor Jared Kushner’s sister pitched the prospect of EB-5 immigration visas to Chinese investors. While the program may appear an easy path to...more

Fiduciary-Rule Litigation Moves to Court of Public Opinion

by Burr & Forman on

Last week Labor Secretary Acosta chose a Wall Street Journal op-ed to announce DOL’s decision not to delay the “fiduciary rule” past the once-extended June 9 effective date....more

The Department of Labor Confirms June 9th as the Effective Date of the Fiduciary Rule: What Employers Need to Know Now

by Dickinson Wright on

On May 22, 2017, Secretary of Labor Jim Acosta announced that, after having been delayed 60 days, the Department of Labor’s (“DOL”) Conflict of Interest Rule (“Fiduciary Rule”) will largely apply on June 9, 2017. At that...more

SEC Returns to the Fiduciary-Rule Arena

by Burr & Forman on

On June 1, new SEC Chair Clayton returned the SEC to the arena in the policy debate surrounding the DOL’s Fiduciary Rule. Clayton’s public statement responded to a direct invitation for SEC participation by DOL Secretary...more

Nutter Bank Report, May 2017

Supreme Court Rules That Cities Can Sue Lenders Under the Fair Housing Act - The U.S. Supreme Court has issued a decision that reaffirms the standing of municipalities to sue lenders, including banks, for certain...more

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