Morrison & Foerster LLP

America Invents Act Updates Take Final Form

In a last-minute decision for the 112th Congress, the House of Representatives approved an America Invents Act (AIA) technical-revisions bill as amended by the Senate (H.R. 6621) on January 1, 2013. President Obama is expected…more

America Invents Act, Derivation Proceeding, First-to-Invent, Inter Partes Review (IPR) Proceeding, Patent Reform

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Important Changes to the IRS Determination Letter Program for Retirement Plans

The Internal Revenue Service (“IRS”) has modified procedures governing favorable determination letters for individually designed qualified retirement plans, including 401(k), profit sharing, defined benefit, and cash balance…more

401k, Benefit Plan Sponsors, Defined Benefit Plans, Determination Letter, Employer Identification Number (EIN)

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Financial Services Report, Summer 2015

In This Issue: - Arbitration Report - Beltway Report - Bureau Report - Mobile & Emerging Payments Report - Mortgage & Fair Lending Report - Operations Report - Preemption Report - Privacy…more

Arbitration Agreements, CashCall, CFPB, Consumer Bankruptcy, Consumer Financial Products

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MoFo IP Newsletter - August 2016

Supreme Court Abolished Federal Circuit's Test for Willfulness - On June 13, 2016, in Halo Electronics, Inc. v. Pulse Electronics, Inc., 579 U.S. ___ (2016), the Supreme Court unanimously abrogated the Federal Circuit’s…more

Abuse of Discretion, Appeals, Attorney's Fees, Authorship, Books

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SFO and Rolls-Royce agree to half billion pound DPA

Just over a year after the approval of the first ever Deferred Prosecution Agreement (DPA), Southwark Crown Court on 17 January 2017 approved a DPA proposed by the Serious Fraud Office (SFO) with UK leading engineering group,…more

Corruption, Deferred Prosecution Agreements, Penalties, Rolls-Royce, Serious Fraud Office

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Consumer Products: The CPSC Files Suit Seeking Civil Penalties Against Michaels Stores for Failures of Reporting and Material Misrepresentation

Last week, the U.S. Department of Justice, on behalf of the United States Consumer Product Safety Commission (CPSC), filed suit against Michaels Stores, Inc. (“Michaels”) in the Northern District of Texas. United States of…more

Civil Monetary Penalty, Consumer Product Safety Commission (CPSC), Enforcement Actions, Investigations, Michaels

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Individual Liability: What’s Behind The Headlines?

It’s been open season on financial institutions since the 2008-2009 financial crisis (“Financial Crisis”). State and federal prosecutors and regulators are competing with each other for press coverage of their latest consent…more

Banking Crisis, Banking Sector, C-Suite Executives, CFPB, Civil Monetary Penalty

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Top Ten International Anti-Corruption Developments for January 2017

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary…more

Anti-Bribery, Anti-Corruption, Brazil, Bribery, Chile

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Fair Pay and Safe Work Places Goes to President Trump

March 6, 2017, by a vote of 49-48, the Senate passed a house joint resolution disapproving the final rule implementing Executive Order 13673, Fair Pay and Safe Workplaces. The House previously passed the resolution in February…more

Blacklist, DOL, Executive Orders, Fair Pay and Safe Workplaces, Federal Acquisition Regulations (FAR)

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ITC Commissioners Divided Over Standards For Cease And Desist Orders

Recent decisions by the Commission highlight a split among the Commissioners over the proper standard for issuing cease and desist orders. The majority of Commissioners appear to agree that the determination regarding whether…more

Cease and Desist Orders, Infringement, ITC, Section 337, Split of Authority

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False Advertising Suit Regarding Plum Organics Mighty 4 Puree Pouches Dismissed

On November 2, 2015, Judge Alsup of the Northern District of California dismissed a consumer class action against food manufacturer Plum Organics for failure to state a claim. In Workman et al. v. Plum Inc., D/B/A Plum Organics,…more

Business & Professions Code, Class Action, Consumers Legal Remedies Act, Failure To State A Claim, False Advertising

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Will You Be Caught In The 'Wrong' Law Or Courts Post-Brexit?

The European Union legal regime currently provides contracting parties with significant predictability and stability. The United Kingdom’s election on June 23, 2016, to exit the EU presents a potential affront to such certainty,…more

Contract Disputes, EU, International Litigation, Jurisdiction, Member State

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The Defend Trade Secrets Act: Some Practical Considerations

Today President Obama signed the Defend Trade Secrets Act (DTSA or the “Act”), which creates a new federal cause of action for trade secret misappropriation effective immediately. The DTSA establishes federal jurisdiction…more

Asset Seizure, Defend Trade Secrets Act (DTSA), Ex Parte, Misappropriation, Private Right of Action

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Looking to Litigate in Secret? Fourth Circuit Creates Hurdles for Product Manufacturers

In April, the Fourth Circuit ruled in Company Doe v. Public Citizen that a manufacturer could not hide behind a veil of secrecy even after successfully enjoining the Consumer Product Safety Commission (CPSC) from publishing an…more

Consumer Product Safety Commission (CPSC), Consumer Product Safety Improvement Act (CPSIA), Manufacturers, Transparency

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U.S. Patent and Trademark Office Announces Rule Amendments for Trials Before the Patent Trial and Appeal Board

In an April 1, 2016 Federal Register Notice (“Notice”),1 the United States Patent and Trademark Office (“Office”) finalized amendments to rules governing trial practice for inter partes review, post-grant review, transitional…more

America Invents Act, Claim Construction, Covered Business Method Proceedings, Expert Testimony, Federal Register

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Small Magnets, Big Trouble – Zen Successfully Challenges CPSC Rulemaking in the 10th Circuit

The United States Court of Appeals for the Tenth Circuit recently vacated the Consumer Product Safety Commission’s (CPSC) 2014 rulemaking that prohibits the importation and distribution of high-powered, small, rare earth magnet…more

Consumer Product Safety Commission (CPSC), Enforcement Actions, Safety Standards, Zen Magnets

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The Persuader Rules: Final Opportunity to Avoid Department of Labor Reporting Requirements

The U.S. Department of Labor (“DOL”) recently issued its final regulations regarding the “advice exception” to reporting requirements of employers and lawyers under the Labor-Management Reporting and Disclosure Act…more

Attorney-Client Privilege, Collective Bargaining, DOL, Final Rules, Legal Advice

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Three Key Takeaways from DOJ’s New Yates Memo on Individual Accountability for Corporate Wrongdoing

During a September 10, 2015 conference at New York University, Deputy Attorney General (DAG) Sally Quillian Yates announced new Department of Justice (DOJ or the Department) policy that could significantly affect the way that…more

Attorney-Client Privilege, C-Suite Executives, Cooperation, Corporate Veil, DOJ

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California Appellate Court Requires Actual Viewing of Confidential Information in Data Breach Case Under the California Medical Information Act

In a case against Sutter Health involving records from a stolen office computer, the California Court of Appeal recently issued a decision limiting plaintiffs’ ability to state a claim and obtain statutory damages under the…more

Appeals, CMIA, Electronic Medical Records, Medical Records, Patient Confidentiality Breaches

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Seven IP Cases to Watch in Early 2017

SCA Hygiene AB v. First Quality Baby Products. LLC (Docket No. 15-927, S. Ct.) - In SCA Hygiene AB v. First Quality Baby Products LLC,the Supreme Court will consider “[w]hether and to what extent the defense of laches may…more

Copyright, First Amendment, Free Speech, Impression Products v Lexmark International, Inter Partes Review (IPR) Proceeding

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A View of EB-5 Program Issues from a Top SEC Enforcement Official

As participation in the U.S. Citizen and Immigration Services (USCIS) Immigrant Investor Program or “EB-5 program” grows, regulatory interest is showing a commensurate uptick. On November 20, 2013, Associate Director Stephen…more

Compliance, EB-5, Enforcement, Enforcement Actions, Immigrants

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Is it Time to Streamline Financial Regulation?

A March 13, 2017 presidential order requiring a comprehensive plan to reorganize the executive branch could be the first step toward streamlining the financial regulatory structure. The Executive Order requires the…more

CFTC, Executive Orders, Financial Regulatory Reform, SEC, Trump Administration

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Autonomous Vehicles: USDOT Issues New Policy on Development and Deployment of Automated Vehicle Technologies

On Tuesday, September 20, the U.S. Department of Transportation (USDOT) will release a new policy designed to expedite the development and deployment of autonomous vehicle (AV) technologies in the United States while protecting…more

Automotive Industry, Department of Transportation (DOT), Driverless Cars, Motor Vehicles

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First Circuit Issues Potentially Significant Ruling on Federal Video Privacy Statute’s Application to Mobile Apps

The First Circuit Court of Appeals’ recent decision in Yershov v. Gannett Satellite Information Network, Inc., — F.3d —-, Case No. 15-1719, 2016 WL 1719825 (1st Cir. Apr. 29, 2016), may carry important implications for mobile…more

Advertising, Class Action, Marketing, Mobile Apps, Personally Identifiable Information

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New Tech, Old Rules: 6 Tips For Tech Cos. Managing FCA Risk

When it was first enacted in 1863, the original purpose of the False Claims Act was to prosecute war profiteers who were selling sick mules and broken muzzle-loaded rifles to the Union Army. In recent years, its use has expanded…more

False Claims Act (FCA), Federal Contractors, Product Pricing, Risk Assessment, State Contractors

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Financial Services Report - Spring 2017

EDITOR’S NOTE - In like a lion, out like a lamb—it works for weather; does it work for new administrations? We’ll have to wait and see. We’ll have to wait and see about the length of CFPB Director Richard Cordray’s tenure…more

Anti-Money Laundering, Arbitration Agreements, Bank Fraud, Bank Holding Company Act, Banking Sector

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Are Your Customer Accounts in Order? SEC Announces Sweep of Broker-Dealers and Implementation of the Customer Protection Rule Initiative

On June 23, 2016, the Securities and Exchange Commission (the SEC) announced that it would begin a coordinated effort across divisions to identify potential violations by broker-dealers of Rule 15c3-3 (the “Rule”) under the…more

Broker-Dealer, Custody Rule, Customer Protection Rule, Enforcement Actions, FINRA

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Structured Thoughts: News for the financial services community, Volume 7, Issue 8

Brexit and Structured Products: A Framework for Considering Disclosures - The U.K.’s recent referendum to withdraw from the European Union has affected virtually all segments of the financial industry. The structured…more

Administrative Proceedings, Broker-Dealer, Disclosure Requirements, Distributors, DOL

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Co-Bidder Status in Tender Offers

The recent Allergan litigation in California District Court involved the allegation that Pershing Square Capital Management, LP (together with certain of its affiliates, “Pershing Square”) had violated the prohibition, under…more

Allergan Inc, Disclosure Requirements, Filing Requirements, Securities Exchange Act, Tender Offers

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In Delaware, Privilege Goes to the Buyer -- Court Finds Buyer Controls Attorney-Client Privilege over Seller’s Pre-Closing Communications Regarding Merger Negotiations, Unless Otherwise Agreed

The Delaware court of chancery held recently that control over a target company’s attorney-client privileged communications, including communications between the target company’s counsel and its pre-merger stockholders, passes…more

Attorney-Client Privilege, Contract Drafting, Corporate Counsel, Disqualification, Fraudulent Inducement

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The SEC Issues a Request for Comment on Possible Changes to Industry Guide 3

On March 1st, 2017, the Securities and Exchange Commission (“Commission”) issued a request for comment (“RFC”) seeking comment on Industry Guide 3, “Statistical Disclosure by Bank Holding Companies” (“Guide 3”). Guide 3, which…more

Bank Holding Company, Banking Sector, GAAP, Registration Statement, Regulation S-X

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Socially Aware - Volume 6, Issue 2 - May 2015

In This Issue: - Court Protects Anonymity of Yelp Users - FTC Issues Landmark Report on Internet of Things - Who Will Update My Status When I’m Dead?: The Biggest Social Media Platforms’ Policies on…more

Anonymity, Copyright, Digital Assets, DMCA, FTC

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Brexit: The Impact on the EC/VC Community

The process of Brexit and the implications for our clients’ businesses will unfold over time. Our MoFo Brexit Task Force is coordinating Brexit-related legal analysis across all our offices and working with our clients on their…more

Currency Fluctuation, EEA, Emerging Growth Companies, EU, EU Passport

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MoFo Tax Talk - Volume 8, No. 4

IRS PROVIDES RICS ALTERNATIVES TO ACCOUNT FOR FOREIGN TAX REFUNDS - Generally, when a U.S. taxpayer pays foreign tax, the U.S. taxpayer is entitled to take a credit (a “Foreign Tax Credit”) against the taxpayer’s U.S. tax…more

Certiorari, ConAgra, Dividends, FIRPTA, Foreign Currency

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Employment Law Commentary -- Volume 26, Issue June 2014 -- Protecting Trade Secrets Globally: Comparing The U.S. And EU

International attention to misappropriation of trade secrets has never been at a higher level. In early May 2014, a U.S. federal grand jury indicted several Chinese military officials for allegedly misappropriating trade secrets…more

China, Defend Trade Secrets Act (DTSA), EU, Misappropriation, Trade Secrets

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Top Ten International Anti-Corruption Developments for July 2016

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary…more

Airlines, Alstom, Anti-Corruption, Argentina, Brazil

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SEC Revises Guidance on Granting WKSI Waiver

On March 12, 2014, the SEC’s Division of Corporate Finance updated its guidance regarding requests for waivers by well-known seasoned issuers (“WKSIs”) that would otherwise become ineligible issuers under Rule 405 of the…more

SEC, Securities Exchange Act, Waivers, WKSIs

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Corruption Allegations in China Lead to a Shareholder Class Action in the U.S.

The filing of a shareholder class action has become routine following a drop in stock price after the revelation of adverse news about a company. Allegations of corruption at a public company are proving to be no different, as…more

China, Class Action, Corruption, Foreign Official, Oil & Gas

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California Supreme Court Upholds Class Action Waivers in Arbitration Agreements, but Invalidates Waivers of Representative Actions under the California Private Attorneys General Act

On June 23, the California Supreme Court provided mixed blessings to California employers. In Iskanian v. CLS Transportation, No. S204032 (June 23, 2014), the Court upheld class action waivers in arbitration agreements,…more

Arbitration, Class Action, Class Action Arbitration Waivers, CLS Transportation, Employer Liability Issues

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Form PCT/IB/382: Legal Implications in Countries with Compulsory Licensing Rules

The World Intellectual Property Organization (WIPO) added a new feature in January 2012 in an effort to promote licensing. Patent Cooperation Treaty (PCT) applicants may submit form PCT/IB/382, which informs others that the…more

Licensing Rules, Patents, WIPO

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Structured Thoughts: News for the financial services community, Volume 8, Issue 1

U.S. Court of Appeals Upholds SEC’s Backtesting Finding - In a 2016 case before the U.S. Court of Appeals for the D.C. Circuit, a former investment adviser lost a petition to review and vacate the decision of an SEC…more

Broker-Dealer, DOL, Examination Priorities, Fiduciary Rule, FINRA

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California Supreme Court Opens the Door to Organic Mislabeling Claims

Last week, the California Supreme Court issued a long awaited ruling on organic labeling in Quesada v. Herb Thyme Farms, Inc., No. S216305, 2015 WL 7770635 (Cal. Dec. 3, 2015). At issue in Quesada was whether consumers may bring…more

CA Supreme Court, Consumer Fraud, Corporate Counsel, Food Labeling, Misrepresentation

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MoFo Global Procurement Quarterly: Winter 2015

In This Issue: - Protection of Security Relevant Information vs. Enhancement of Global Competition – Germany's "No Spy Decree" for Public Tenders under Continuous Scrutiny - RWIND Tenderer Test: Objective or…more

Cybersecurity, DOJ, Enforcement Actions, EU, Germany

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CPSC to Consider New Magnet Set Safety Standards Following 10th Circuit Decision in Zen Magnets

We have entered the next chapter in the ongoing saga of the Consumer Product Safety Commission’s (“CPSC”) regulation of high-powered, small, rare earth magnet sets (“SREMS”). On March 1, 2017, CPSC met and unanimously approved…more

Consumer Product Safety Commission (CPSC), Safety Standards, Zen Magnets

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Ten Key Legal Issues to Consider When Moving Stateside

Stateside - Even before the uncertainties following the Brexit referendum result, a move to the U.S. was an attractive proposition for high growth UK businesses. Common language, similar culture, access to capital and a…more

Corporate Structures, Data Privacy, E-Commerce, Intellectual Property Protection, International Labor Laws

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Final IRS Regulations Under Section 162(m) Will Impact Transition Rule Applicable to Newly Public Companies

On March 31, 2015, the IRS issued final regulations under Section 162(m), the tax code provision which limits the deduction for compensation paid to certain public company executive officers. As signaled by the proposed…more

Corporate Taxes, Executive Compensation, IRS, Proposed Regulation, Publicly-Traded Companies

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

U.S. Structured Warrant Programs: Introduction - U.S. and non-U.S. banks have offered structured warrants in the U.S. to address the needs of both institutional and high-net worth investors. This article will describe…more

Advertising, Banking Sector, Broker-Dealer, Cease and Desist, Cooperation

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Consumer Products Face New Challenge: State Finds That Many Common Products Must be Managed as Hazardous Waste When Disposed Of

California’s Department of Toxic Substances Control (DTSC) has released the results of aquatic toxicity testing on over-the-counter remedies, health and beauty products, and cleaning products. The results indicate that over…more

DTSC, Enforcement Actions, EPA, Hazardous Waste, Toxic Exposure

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Is Gorsuch A Positivist?

As President Trump applies his whack-a-mole, hammer-them-all-on-thehead theory of leadership, could a Justice Neil Gorsuch legal philosophy join opinions that would declare the president’s actions unconstitutional? It is a lot…more

Judicial Appointments, Neil Gorsuch, Nominations, SCOTUS, Trump Administration

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California Adopts the Sophisticated Intermediary Doctrine

In a recent opinion, the Supreme Court of California formally adopted the Sophisticated Intermediary Doctrine, clarifying what circumstances may permit a raw materials supplier to discharge its duty to warn consumers. Webb v…more

Asbestos, Burden of Proof, CA Supreme Court, Component Parts Doctrine, Duty to Warn

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ITC Commissioners Divided Over Standards For Cease And Desist Orders

Recent decisions by the Commission highlight a split among the Commissioners over the proper standard for issuing cease and desist orders. The majority of Commissioners appear to agree that the determination regarding whether…more

Cease and Desist Orders, Infringement, ITC, Section 337, Split of Authority

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UCC Standing Blocked in Recent Sabine Decision

What showing must creditors make to be granted the right to prosecute claims on behalf of the bankruptcy estate? Under the widely recognized standard established by the Second Circuit in In re STN Enterprises, a bankruptcy…more

Commercial Bankruptcy, Creditors, Debtors, Fraudulent Conveyance, Mergers

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Recent Decisions Confirm That Forum Selection Bylaws Are Best Considered on a Clear Day - But May Be Beneficial Later as Well

“Exclusive forum” bylaws and charter provisions are a powerful tool for managing the risk of parallel corporate governance litigation against a company and its directors in multiple forums, allowing stockholders to bring such…more

Bylaws, Corporate Governance, Delaware General Corporation Law, Exclusive Forum, Forum Selection

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MoFo New York Tax Insights - Volume 8, Issue 3

ALJ Finds CEO Changed Domicile from New York City to Texas - A New York State Administrative Law Judge has held that the CEO of Match.com (“Match”) changed his domicile from New York to Texas for New York State and City…more

ALJ, ERISA, ESOP, Governor Cuomo, Income Taxes

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Amid Wave of Final Executive Actions, President Obama Eases Sanctions Against Sudan

On January 13, 2017, the White House issued an executive order revoking significant aspects of the sanctions in place against Sudan (that have been in effect since 1997). In conjunction with the announcement, the Treasury…more

Barack Obama, BIS, Executive Orders, General Licenses, Obama Administration

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The Federal Reserve’s Proposed Rules for Financial Contracts of Global Systemically Important Banking Organizations and ISDA’s Resolution Stay Jurisdictional Modular Protocol

Last month the Board of Governors of the Federal Reserve System (the “Board”) issued proposed new rules (the “Proposed Rules”) intended to reduce the potential risks posed to the U.S. financial system by too-big-to-fail banks.1 …more

Banks, Basel Committee, Cross-Border Transactions, Dodd-Frank, Federal Reserve

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Financial Services Report - Spring 2017

EDITOR’S NOTE - In like a lion, out like a lamb—it works for weather; does it work for new administrations? We’ll have to wait and see. We’ll have to wait and see about the length of CFPB Director Richard Cordray’s tenure…more

Anti-Money Laundering, Arbitration Agreements, Bank Fraud, Bank Holding Company Act, Banking Sector

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EPA to Reconsider Previous Determination on Greenhouse Gas Emission Standards for Light-Duty Cars and Trucks

On March 15, 2017, the U.S. Environmental Protection Agency (EPA) announced that the agency and the U.S. Department of Transportation will jointly reconsider EPA’s January 12, 2017 determination not to change greenhouse gas…more

Department of Transportation (DOT), EPA, Greenhouse Gas Emissions, NHTSA

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Significant Liberalization of Foreign Investment Rules in India

On June 20, 2016, the Indian government, in an effort to open up the Indian economy and bring in much-needed foreign capital, announced a radical liberalization of the foreign direct investment (FDI) rules by liberalizing…more

Aviation Industry, Broadcasting, Defense Sector, E-Commerce, Food Manufacturers

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Practice Pointers: Anticipating and Addressing SEC Comments on Non-GAAP Financial Measures - February 2017

The use of non-GAAP financial measures by public companies continues to be an area of growing concern for the Securities and Exchange Commission (“SEC”). Since the staff of the SEC’s Division of Corporation Finance (the…more

Acquisitions, C&DIs, Capital Markets, Corporate Financing, Financial Reporting

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Significant Government Contract Litigation: A Year in Review

Last year provided a number of important claims and cases that further developed various aspects of litigation regarding the Contract Disputes Act (CDA). The major issues raised in some of the more notable claims include claim…more

Accrual Method, Appeals, Binding Contractual Rules, Board of Contract Appeals, CBCA

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Litigation and enforcement in Japan: overview

MAIN DISPUTE RESOLUTION METHODS - 1. What are the main dispute resolution methods used in your jurisdiction to resolve large commercial disputes? Litigation Litigation is the most frequently used dispute resolution…more

Appeals, Arbitration, Class Action, Commercial Arbitration, Confidential Information

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MoFo IP Newsletter - August 2016

Supreme Court Abolished Federal Circuit's Test for Willfulness - On June 13, 2016, in Halo Electronics, Inc. v. Pulse Electronics, Inc., 579 U.S. ___ (2016), the Supreme Court unanimously abrogated the Federal Circuit’s…more

Abuse of Discretion, Appeals, Attorney's Fees, Authorship, Books

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Financial Services Report, Winter 2016

EDITOR’S NOTE - Hope you survived all of those awkward Thanksgiving holiday conversations— amazing how divided people are on whether the court got it right in the PHH case, isn’t it? So on we go into the holiday season,…more

Arbitration, Article III, Blockchain, CalOPPA, CFPB

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The Latest On Statistical Sampling In FCA Cases

After waiting over a year to hear what the Fourth Circuit would say about statistical sampling in False Claims Act cases, the court of appeals recently chose to keep us in suspense. Despite initially granting the relators’…more

Extrapolation, False Claims Act (FCA), Healthcare Fraud, Medicare, Statistical Sampling

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Hong Kong Capital Markets Quarterly News -- October 2013

In This Issue: New Sponsor Regime – Guidance Letters; Policy on Listing Overseas Companies; New Listing Decisions; New Guidance Letters; and Enforcement News Excerpt from New Sponsor Regime – Guidance Letters:…more

Enforcement, Hong Kong, Listing Standards, SFC, Stocks

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China Life Sciences - January 2013

In This Issue: Investor Q&A; Key Regulatory Issues for Strategic Life Sciences Partnerships in China; Compulsory Patent Licensing in China; and New Developments on the “Patentable Subject Matter” Requirement of U.S…more

Biotechnology, China, Compulsory Licenses, Foreign Investment, Licenses

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SPC Issues Interpretation on Jurisdictional Issues Arising from CIETAC Split

In a welcome development, the PRC Supreme People’s Court (the “SPC”) issued on July 15, 2015 an interpretation addressing various jurisdictional issues arising from the decision in mid-2012 of the former CIETAC Shanghai and…more

Arbitration, Arbitration Agreements, China, CIETAC, Foreign Ownership

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Mexico’s National Center for Energy Control (Centro Nacional de Control de Energia: “CENACE”) Publishes Rules for Establishing the Infrastructure Requirements for the Interconnection of Power Plants and Connection of Charging Stations (centros de carga)

On June 2, 2015, CENACE published in the Federal Gazette of the Federation (Diario Oficial de la Federación) the Rules for Establishing the Infrastructure Requirements for the Interconnection of Power Plants and Connection of…more

Charging Stations, New Regulations, Power Infrastructure, Power Plants

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Financial Services Report - Spring 2017

EDITOR’S NOTE - In like a lion, out like a lamb—it works for weather; does it work for new administrations? We’ll have to wait and see. We’ll have to wait and see about the length of CFPB Director Richard Cordray’s tenure…more

Anti-Money Laundering, Arbitration Agreements, Bank Fraud, Bank Holding Company Act, Banking Sector

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MoFo IP Newsletter - November 2016

FDA (Finally!) Issues New Regulations to Clarify Pharmaceutical Patent Litigation: How to Use Patent “Use Codes” - October 6, 2016, the FDA issued a final rule implementing certain provisions of the Medicare Prescription…more

Copyright, De Minimis Claims, Enforcement, FDA, New Regulations

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China’s Draft Foreign Investment Law: A Paradigm Shift in Regulation of Foreign Investment

On January 19, 2015, China’s Ministry of Commerce (“MOFCOM”) released for public comment a draft Foreign Investment Law; “FIL”) along with an accompanying explanatory note (“Note”). The deadline for comments is February 17,…more

China, Foreign Investment, MOFCOM

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FINAL FAR RULE: Prohibition on Reimbursement for Congressional Investigations and Inquiries

On January 13, 2017, the Department of Defense (“DoD”), General Services Administration (“GSA”), and National Aeronautics and Space Administration (“NASA”) issued a 10 U.S.C. § 2324(k)(2). Under the rule, contractors may not be…more

Contractors, Department of Defense (DOD), False Claims Act (FCA), Final Rules, General Services Administration (GSA)

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Broker-Dealer Registration Issues Associated with Development Projects under the EB-5 Program

The EB-5 Immigrant Investor Program (the “EB-5 Program”) administered by the U.S. Citizenship and Immigration Service (USCIS) has been a significant source of capital for various real estate and other development projects…more

Broker-Dealer, Compliance, EB-5, Enforcement, Limited Partnerships

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Problems Abound with DOD’s Proposed IRAD Rule

On November 4, 2016, the Department of Defense proposed a new rule applicable to major defense contractors who expect to use future independent research and development (“IRAD”) to perform DoD contracts. The proposed rule…more

Anti-Competitive, Contractors, Department of Defense (DOD), Federal Acquisition Regulations (FAR), Proposed Rules

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CFPB Report on Online Short-Term Lending Finds Borrowers Face Hidden Costs

On Wednesday, April 20, 2016, the Consumer Financial Protection Bureau (“CFPB,” or “Bureau”) released a report, entitled “Online Payday Loan Payments” (“Report”), which examines short-term, small-dollar loans—or payday…more

CFPB, Lenders, Online Payments, Payday Loans

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California Governor Signs Bill Limiting Cities and Counties Use of Sales/Use Tax Agreements

The governor of California has signed SB 533, which, beginning on January 1, 2016, further limits the power of a city or a county to enter into an agreement with a retailer that would result in the payment, transfer, diversion,…more

Governor Brown, Local Governance, Local Taxes, New Legislation, Rebates

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The SEC Issues a Request for Comment on Possible Changes to Industry Guide 3

On March 1st, 2017, the Securities and Exchange Commission (“Commission”) issued a request for comment (“RFC”) seeking comment on Industry Guide 3, “Statistical Disclosure by Bank Holding Companies” (“Guide 3”). Guide 3, which…more

Bank Holding Company, Banking Sector, GAAP, Registration Statement, Regulation S-X

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Employment Law Commentary - October 2014

California Legislative Update - Welcome back to our annual review of new laws that may impact California employers! This year’s highlights include California’s new paid sick leave law, additions to sexual harassment…more

Child Labor, Employer Liability Issues, FEHA, Independent Contractors, Joint Employers

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Litigation and enforcement in Japan: overview

MAIN DISPUTE RESOLUTION METHODS - 1. What are the main dispute resolution methods used in your jurisdiction to resolve large commercial disputes? Litigation Litigation is the most frequently used dispute resolution…more

Appeals, Arbitration, Class Action, Commercial Arbitration, Confidential Information

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Assessing Acquisition Offers from Chinese Buyers - CFIUS and related considerations for technology company boards

Notwithstanding reports earlier this year of transactions that either failed to close (GO Scale / Lumileds; Tsinghua Unisplendour / Western Digital), lost out to competing U.S. bids (China Resources / Fairchild) or were…more

Acquisitions, Board of Directors, CFIUS, China, Emerging Technology Companies

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