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New Privacy Regulations Exempt Commercial Credit Providers From EDR

Commercial credit providers and utilities are not required to join a recognised external dispute resolution scheme to participate in credit reporting until 12 March 2015. …more

Australia, Lenders, Privacy Laws

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The New 2013 Eagle Conservation Plan Guidance: Certainty for the Industry or Dust in the Wind?

The new Eagle Conservation Plan Guidance issued by the U.S. Fish & Wildlife Service (“FWS”) presents an interesting question for wind project developers and operators – does it really provide greater certainty and reduce…more

Bird Fatalities, Department of Fish and Wildlife, Renewable Energy, Wind Power

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Arbitration World

From the Editors - Welcome to the 23rd edition of Arbitration World, a publication from K&L Gates' International Arbitration Group that highlights significant developments and issues in international and domestic arbitration…more

Arbitration

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European Court of Justice Holds Google Responsible for the Processing of Personal Data from Third-Party Websites

On May 13, 2014, the European Court of Justice (ECJ) delivered a judgment in Google vs. AEPD (C-131/12, hereinafter “Google Decision”) based on the EU Data Protection Directive (Directive 95/46/EC, the “Directive”). In the…more

Data Protection, EU, First Amendment, Google, Internet

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Hit and Miss? Australian Cricket Coach Takes Swing at Adverse Action Claim

The coach of the Australian cricket team, Mickey Arthur, was dismissed a fortnight before the 2013 Ashes series commenced in England. Arthur had been appointed to the position in November 2011 for a term that was set to expire…more

Adverse Employment Action, Sports

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U.S. Supreme Court Rules Section 3 of DOMA is Unconstitutional: What Should Employee Benefit Plan Sponsors and Administrators Be Doing?

The Defense of Marriage Act (DOMA) provides a single definition of marriage, as between one man and one woman, for purposes of all federal laws, including the Internal Revenue Code and ERISA…more

COBRA, DOMA, Due Process, Employee Benefits, Employer Group Health Plans

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Investment Advisers and Funds – New Treasury Report Form for Foreign Claims and Liabilities

The Department of the Treasury recently amended Treasury International Capital (“TIC”) B forms to explicitly require reporting of cross-border claims on and liabilities to foreign residents by savings and loan holding companies…more

Cross-Border, Foreign Jurisdictions, Investment Adviser

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SEC Adopts Rule Amendments to Permit General Solicitation in Certain Private Offerings

On July 10, 2013, the Securities and Exchange Commission (“SEC”) adopted final rules to eliminate the prohibition against general solicitation and general advertising in certain securities offerings under Rule 506 of Regulation…more

Advertising, General Solicitation, JOBS Act, Private Placements, Regulation D

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EPA Proposes Strict Greenhouse Gas Emissions Standards On New Electric Utilities

The United States Environmental Protection Agency (EPA) has proposed New Source Performance Standards (NSPS) that would set carbon dioxide (CO2) emission limits for certain new fossil-fueled electric utility generating units…more

Carbon Emissions, Clean Air Act, Environmental Policies, EPA, Greenhouse Gas Emissions

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SEC Issues Rule Proposals to Amend Regulation A

On December 18, 2013, the U.S. Securities and Exchange Commission (“SEC”) issued rule proposals to amend Regulation A, implementing an important part of Title IV of the Jumpstart Our Business Startups Act of 2012 (the “JOBS…more

Bad Actors, JOBS Act, PCAOB, Regulation A, Regulation S-X

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Penmanship Lesson: Technical Defects in Massachusetts Pre-foreclosure Letters Not Grounds For Voiding Foreclosures

In a victory for common sense, the Massachusetts Supreme Judicial Court (the “SJC”) has held that MASS. GEN. LAWS ch. 244 § 35A (“Section 35A”) does not relate to “the foreclosure of mortgages by the exercise of a power of…more

Foreclosure, Mortgages

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New IRS Revenue Ruling 2014-18 and the Use of Hedge Fund Stock Options

The Internal Revenue Service has issued Revenue Ruling 2014-18 (the “Ruling”) to clarify that stock options and stock-settled stock appreciation rights (“SARs”), properly designed, can be used as a form of compensation to…more

Compensation & Benefits, Deferred Compensation, Hedge Funds, IRC, IRS

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Allocation of FATCA Withholding Risk in Financial Transactions Outside the United States

The U.S. Treasury Department has delayed implementation of FATCA once again. However, this delay may be the last, and a phased implementation of FATCA is scheduled to begin on July 1, 2014. FATCA introduces the potential for…more

Extraterritoriality Rules, FATCA, FFIs, International Tax Issues, U.S. Treasury

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Global Boardroom Risk Solutions Newsletter

Now more than ever, there is a need for risk solutions in the boardroom. Any organization can be faced with a significant crisis, whether a fraud investigation, a regulatory infringement, allegations of anticompetitive behavior,…more

Chief Compliance Officers, Compliance, Enforcement, EU, FCPA

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CFTC Adopts Harmonization Rules for Investment Advisers that are Commodity Pool Operators of Registered Funds

On August 13, 2013, the Commodity Futures Trading Commission (“CFTC”) adopted long-awaited harmonization rules (“Harmonization Rules”) for operators of registered investment companies (“Registered Funds”) that are subject to…more

CFTC, CPO, Disclosure Requirements, Harmonization Rules, Investment Adviser

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The Projects and Construction Review, Chapter 22 "Italy"

The current state of Italian project finance is the result of a trend initiated more than 20 years ago, when public resources started to become scarce and the construction or infrastructure needed private funds to be carried…more

Arbitration, Bonds, Cross-Border, EU, Foreign Investment

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New EU Regulation Strengthens Customs Authorities’ Ability to Take Action against Counterfeits

Customs authorities in the European Union (“EU”) countries are being given new enforcement tools with the adoption on 1 January 2014 of Council Regulation No. 608/2013 (the “New Regulation”). The New Regulation provides broader…more

Counterfeiting, Customs and Border Protection, EU

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IRS Changes Position on Certain Income Earned by State-Chartered Credit Unions

In a recent memorandum (found here), the IRS issued instructions to all exempt organization examiners on the applicability of unrelated business income tax (“UBIT”) to certain income earned by state-chartered credit unions…more

Business Taxes, Corporate Taxes, Credit Unions, Income Taxes, IRS

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Global Boardroom Risk Solutions Newsletter

Now more than ever, there is a need for risk solutions in the boardroom. Any organization can be faced with a significant crisis, whether a fraud investigation, a regulatory infringement, allegations of anticompetitive behavior,…more

Chief Compliance Officers, Compliance, Enforcement, EU, FCPA

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Protection of Collateral for Uncleared Swaps—the Importance of Initial Margin Segregation

On November 6, 2013, the U.S. Commodity Futures Trading Commission (“CFTC”) published final rules that require swap dealers and major swap participants (“Registered Entities”) to notify end-users of their right to require…more

CFTC, Final Rules, Major Swap Participants, Swap Dealers

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Creation of a new industrial property right in France: the "geographical indication of industrial and handicraft products"

The French law no.2014-344 on consumer protection, named "Hamon Act" (for the name of the Ministry in charge of this reform) and dated March 17, 2014, creates a new industrial property right: the "Geographical Indications…more

Copyright, EU, Industrial Space, National Origin, Patents

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The Projects and Construction Review, Chapter 22 "Italy"

The current state of Italian project finance is the result of a trend initiated more than 20 years ago, when public resources started to become scarce and the construction or infrastructure needed private funds to be carried…more

Arbitration, Bonds, Cross-Border, EU, Foreign Investment

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Global Boardroom Risk Solutions Newsletter

Now more than ever, there is a need for risk solutions in the boardroom. Any organization can be faced with a significant crisis, whether a fraud investigation, a regulatory infringement, allegations of anticompetitive behavior,…more

Chief Compliance Officers, Compliance, Enforcement, EU, FCPA

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SEC Adopts Floating NAV and Liquidity Fees/Redemption Gates Rules for Money Funds

On July 23, 2014, the Securities and Exchange Commission (the SEC) adopted final rules governing the structure and operation of money market funds. These rules are discussed in a release adopting amendments to Rule 2a-7 under…more

Compliance, Investment Company Act of 1940, Liquidity Fees, Money Market Funds, NAV

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The New World Wide Web: FATCA Inspires a Global Effort to Fight Tax Evasion

The rapid evolution of the Foreign Account Tax Compliance Act (“FATCA”) from a U.S. driven effort to crack down on U.S. offshore tax evaders into an information reporting mechanism being considered for adoption throughout the…more

Due Diligence, EU, European Commission, FATCA, Intergovernmental Agreements

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New Protections for Pregnant Employees under New Jersey Law

On January 21, 2014, New Jersey Governor Chris Christie signed a bill into law that adds pregnancy as a protected classification under New Jersey’s Law Against Discrimination (“LAD”) and requires employers to provide reasonable…more

Employee Rights, Pregnancy, Pregnancy Discrimination

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CFTC Adopts Harmonization Rules for Investment Advisers that are Commodity Pool Operators of Registered Funds

On August 13, 2013, the Commodity Futures Trading Commission (“CFTC”) adopted long-awaited harmonization rules (“Harmonization Rules”) for operators of registered investment companies (“Registered Funds”) that are subject to…more

CFTC, CPO, Disclosure Requirements, Harmonization Rules, Investment Adviser

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Kodak Lives: New Jersey Jury Finds Antitrust Violation in the Aftermarkets for Maintenance of Avaya Products

On March 27, 2014, a New Jersey federal jury found that Avaya, Inc. (“Avaya”), a leading manufacturer of enterprise telephone systems, violated the federal antitrust laws by trying to eliminate competition from independent…more

Aftermarket Purchases, Antitrust Litigation, Avaya, Kodak, SCOTUS

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Global Food, Drug and Medical Device Newsletter

In this issue: Legislative Updates: - (i) USA - (ii) EU - (iii) China - (iv) Australia - (v) Japan. - Featured Articles: - (i) Caffeinated Energy Drinks - a Global Perspective - (ii)…more

Advertising, Animal Testing, Australia, Cosmetics, Energy Drinks

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North Carolina Set to Open Doors to Shale Gas Production

North Carolina has just taken significant steps forward toward potential development of the state’s shale gas resources. The Energy Modernization Act (also known as Senate Bill 786; the “Act”), ratified by the legislature and…more

Energy, Fracking, Oil & Gas, Popular, Renewable Energy

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PPSR: A Reminder to All Owners Not in Possession of Their Personal Property

In June 2013, the NSW Supreme Court in Maiden Civil (P&E) Pty Ltd; Richard Albarran and Blair Alexander Pleash as receivers and managers of Maiden Civil (P&E) Pty Ltd & Ors v Queensland Excavation Services Pty Ltd & Ors [2013]…more

Australia, Personal Property, Property Owners

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Wyden’s Previous Proposals Could Signal Tax Reform Priorities

Senator Ron Wyden (D-OR) has been a strong advocate for comprehensive tax reform since he joined the Senate Finance Committee in 2005. During his tenure on the Committee, he has introduced a series of comprehensive tax reform…more

401k, Corporate Tax Rates, Corporate Taxes, Deficit Reduction, Energy Tax Incentives

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FATCA is Coming

At the end of May 2014, a bill was introduced to the Australian Federal Parliament to give effect to the United States' Foreign Account Tax Compliance Act (FATCA) and the intergovernmental agreement which was executed by…more

Australia, FATCA, FATCA Timeline, FFI, Intergovernmental Agreements

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Comcast v. Behrend: New Opportunities for Class Action Defendants?

The Supreme Court’s recent opinion in Comcast Corp. v. Behrend all but invites defendants to make a number of arguments when attempting to defeat class certification. The Behrend case is therefore the latest move by the U.S…more

Class Action, Class Certification, Comcast, Comcast v. Behrend, Rule 23

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ASIC Investigates Conduct of Property Developers for Extending Payment Terms

Sometimes a property developer will allow the purchaser to settle without receiving the full balance of the purchase price because the purchaser is unable to obtain adequate financing to complete a settlement. The shortfall…more

ASIC, Australia, Extensions, Land Developers, Settlement

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Recent Supreme Court Decision on “Truth-in-Labeling” Has Far-Reaching Implications

On April 28, 2014, we reported on the United States Supreme Court’s involvement in the juice-labeling lawsuit between POM Wonderful LLC (“POM”) and Coca-Cola (“Coke”). In POM Wonderful LLC v. Coca-Cola Co. (“POM”), POM sued over…more

Advertising, Coca Cola, FDA, FDCA, Food Labeling

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Federal Financial Regulatory Agencies Poised to Implement Diversity Standards

Acting under a little-analyzed provision of the Dodd-Frank Act, six federal financial regulatory agencies recently published-joint proposed standards for assessing the diversity policies and practices of the institutions they…more

Banks, Diversity, Dodd-Frank, Nonbank Firms

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Road Safety Remuneration Tribunal to Order Minimum Conditions for Drivers

On 1 July 2012, the Road Safety Remuneration Act 2012 (Cth) (Act) came in to force imposing requirements on employers across the road transport industry to meet new remuneration and employment standards for their drivers…more

Fair Work Commission, Remuneration, Road Safety Remuneration Act, Transport Workers Union, Trucking Industry

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Abstract Ideas: The Patent Office’s First Take on Alice Corp. v. CLS Bank International

The United States Patent Office periodically issues guidelines for Examiners, often in response to a recent court decision or new statute. These guidelines do not have the force of law, but nevertheless establish the specific…more

CLS Bank v Alice Corp, Mayo v. Prometheus, Patent Applications, Patent Examinations, Patent Litigation

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Shortcuts on the Patent Prosecution Highway

The Patent Prosecution Highway (PPH) is a program that allows applicants to leverage allowable claims in one participating office to obtain a patent faster and more efficiently for corresponding claims in another participating…more

Foreign Patent Applications, Patent Cooperation Treaty, Patent Prosecution Highway, USPTO

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For the first time Germany extradites former executive to the US on antitrust charges

Romano Pisciotti, an Italian national, was extradited from Germany in April 2014 to personally face criminal charges in the US for participating in a worldwide cartel. This is the first time an individual has been extradited…more

Antitrust Litigation, EU, Extradition

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Significant Changes to UK Consumer Law

The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 (the “Regulations”) come into force on 13 June 2014 and form the final stage of the UK’s implementation of the European Union Directive…more

Digital Goods, E-Commerce, Retailers, UK

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Virtual Currency Under Federal Anti-Money Laundering Laws: FinCEN Provides Guidance

A lot of companies transact in credits that might be called “virtual currency.” Most of these companies probably do not consider themselves financial institutions. Many have never considered the possibility that they need to…more

Anti-Money Laundering, Bitcoins, FinCEN, Virtual Currency

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Supreme Court Redefines Framework for Determining Whether a Patent Case is Exceptional and Warrants an Award of Attorney’s Fees

On April 29, 2014, the Supreme Court delivered much-anticipated decisions in the Octane and Highmark cases and redefined the framework for determining whether a patent lawsuit is “exceptional,” justifying an award of attorney’s…more

Attorney's Fees, Highmark v. Allcare, Octane Fitness v. ICON, Patent Infringement, Patent Litigation

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CAMAC's Report on Equity Crowdfunding

Does it Pave the Way to Bridge the Capital Gap for Start-Ups and Small Scale Enterprises in Australia? The Corporations and Markets Advisory Committee (CAMAC) released its report on crowd sourced equity funding (CSEF)…more

Australia, CAMAC, Crowdfunding, Crowdsourcing, Equity Financing

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The Politics of Property: Delivery of affordable homes in the United Kingdom. A new model.

Background to affordable housing needs - England and Wales has a population of 56.2m. It is divided into 348 municipal authorities. 33 of these are in London and serve an estimated population of 8.2m. Figures regarding…more

P3s

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Turning Lemons into Lemonade: Doing Real Estate Business with the Federal Government in These Challenging Economic Times

The Federal Government is one of the largest real estate players in the United States, owning or leasing a huge portfolio of office buildings and other real estate assets across the country. The Public Building Service (“PBS”),…more

Budget Cuts, Federal Budget, Public Projects, Public-Private Partnerships, Real Estate Investments

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The Extra-territorial Impact of EMIR on Non-EU Swap Counterparties

On November 18, 2013, the European Securities and Markets Authority (“ESMA”) published its final report on technical standards detailing how the regulation of over-the-counter (“OTC”) derivative contracts in the European Union…more

EMIR, ESMA, EU, Extraterritoriality Rules, OTC

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On the Job, On the Field – Bullying in Sport

Recent events in the United States have again brought the issue of workplace bullying to international attention. However, in contrast to many other cases, this recent issue arose in the context of a sporting team where it is…more

Athletes, Bullying, Harassment, Hazing, Sports

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Trademark Office Denies Louboutin’s Request to Broaden Trade Dress in Red Sole Shoes

The red hot dispute continues between Christian Louboutin and Yves Saint Laurent (“YSL”) over Louboutin’s red sole shoe trademark. On January 16, 2013, the U.S. Patent and Trademark Office rejected Louboutin’s request to broaden…more

Christian Louboutin, Infringement, Red Sole Shoes, Trade Dress, Trademarks

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The Debate: Sales Functions in Law Firms

A caution to the legal industry about possibly having a knee-jerk reaction to the latest business development trend du jour, perhaps in response to the serious and ongoing challenges of a global market that has produced flat or…more

Business Development, Firm Leadership, Law Firm Partners, Law Practice Management

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Hydraulic Fracturing in Illinois: Draft Regulations to Protect Chemical Proprietary Information

Last month, the Illinois Department of Natural Resources (“IDNR”) published its first draft of the regulations (62 Ill. Adm. Code 245) (the “HFRA Draft Regulations”) under the Illinois Hydraulic Fracturing Regulatory Act (225…more

Chemicals, Energy, Environmental Policies, Fracking, Natural Gas

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Supreme Court clarifies competence-competence principle

In a highly anticipated decision, the US Supreme Court recently confirmed a $185 million award against Argentina in BG Group Plc v Republic of Argentina. The BG Group decision is significant for international arbitration…more

Arbitration, Arbitration Agreements, BG Group v Republic of Argentina, International Arbitration, Jurisdiction

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