In the Hall Street decision in 2008, SCOTUS held that parties could not contractually enlarge Section 10 of the Federal Arbitration Act by agreeing that a court could vacate the arbitration award for reasons not found in that…more
On November 20, 2013, the Minnesota Supreme Court issued its long-awaited decision in the case of Helmberger v. Johnson Controls, Inc. The Court ruled in favor of Johnson Controls, Inc. (JCI) and its subcontractor, Architectural…more
As we previously reported, FERC hosted a workshop December 11 on filing reactive power rate schedules for which there is no compensation. The clear message to FERC from the industry panelists was: "Slow down the train, there are…more
The Dodd-Frank Act requires or authorizes various federal agencies to issue hundreds of rules to implement reforms intended to strengthen the financial services industry. As amended by Public Law No. 112-10, the act also…more
The U.S. Department of the Treasury’s Federal Insurance Office, or FIO, has submitted to Congress and released a report on how to modernize and improve the system of insurance regulation in the United States. Given the…more
The SEC charged a London-based hedge fund adviser and its former U.S.-based holding company with internal controls failures that led to the overvaluation of a fund’s assets and inflated fee revenue for the firms. The case arose…more
Subcontractors and suppliers take careful note. Last week, the Minnesota Supreme Court issued a ruling in which it admitted that a statute created "a trap for the unwary" subcontractor or supplier that files a claim under the…more
The so-called Volker Rule, as required to be implemented by the Dodd-Frank Act, generally prohibits any banking entity from engaging in proprietary trading. The final rule has been adopted by the Office of the Comptroller of…more
Beginning on January 1, 2014, any entity with an employer identification number (EIN) issued by the Internal Revenue Service (IRS) must report a change in the identity or address of its “responsible party” within 60 days of the…more
Every year the IRS issues optional standard mileage rates that can be used by taxpayers to calculate the deductible cost of operating an automobile for business, charitable, medical or moving purposes. Many employers reimburse…more
The SEC has granted the first bad actor waiver under Rule 506 to RBS Securities. RBS pointed out the following to the SEC..…more
On Friday, FERC issued a notice for the workshop on filing reactive power rate schedules for which there is no compensation. The workshop is scheduled for next Wednesday, December 11, from 1:30 p.m. to 4 p.m. at FERC's offices…more
On November 25, 2013, the Commodity Futures Trading Commission (CFTC) settled with Daniel Shak and SHK Management LLC (collectively Respondents) for violating the Commodity Exchange Act (CEA).
This morning, the Minnesota Management & Budget office released the November forecast. Changes in general fund revenue and expenditures for the current biennium have increased the projected balance for FY 2014-15 from $47…more
Whistleblowers covered by one of 22 statutes (including Sarbanes-Oxley and Dodd-Frank) administered by the U.S. Department of Labor’s Occupational Safety and Health Administration will now be able to file complaints online. …more
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