The IRS releases new procedures and sample plan language to assist 403(b) plan sponsors in obtaining pre-approval of 403(b) plan documents and to ensure documentary compliance with 403(b) requirements…more
403(b) Plans, Advisory Opinions, IRS, Pre-approval, Required Documentation
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Amarin is an important US district court opinion affirming the importance of the Second Circuit’s Caronia decision and finding that pharmaceutical and medical device companies have a constitutionally protected right to provide…more
Amarin, Caronia, FDA, FDA Approval, FDCA
IRS announces the issuance of new regulations that will provide relief for certain regulated investment companies that receive foreign tax refunds by either netting the refund against foreign taxes paid in the year of the…more
EU, European Court of Justice (ECJ), Foreign Tax, IRS, Popular
Ruling rejects DOL challenge of an agreement by a 100% ESOP-owned company to advance defense costs and indemnify a trustee…more
DOL, ERISA, ESOP, Indemnification, Legal Costs
A new personal data transfer agreement was announced on February 3, 2016 between EU and US authorities: the EU-US Privacy Shield will replace the invalidated Safe Harbor programme.
Since the landmark decision of the…more
Data Protection Authority, EU, EU-US Privacy Shield, European Commission, European Court of Justice (ECJ)
Decision brings more clarity to jurisdictional boundaries between state public utility regulatory commissions and FERC set forth by the Federal Power Act.
On January 25, the US Supreme Court, in a 6-2 decision, ruled in…more
Demand Response, Energy Consumption, Energy Market, Federal Power Act, FERC
Although the provisions that limit Iran's nuclear program are spelled out in some detail, those related to relaxing economic sanctions against Iran are quite vague…more
Iran Sanctions, Negotiations, Nuclear Weapons, P5+1 Nations, United Nations
The decision details important implications for employers that use deferred compensation arrangements…more
Corporate Counsel, Deferred Compensation, Employee Benefits, ERISA
Any subordinated debt, including Eurobonds, issued after 1 March 2013 must comply with the new rules in order to qualify as regulatory capital…more
Bank of Russia, Basel III, Bonds, Debt, Russia
SEC Staff from the Division of Investment Management has issued guidance on receipt of gifts by investment adviser personnel who manage registered funds…more
Gifts, Investment Adviser, Investment Funds, New Guidance, SEC
Companies doing business in the country should evaluate their compliance programs to avoid the law's sanctions on violators.
On August 2, Brazilian President Dilma Rousseff signed Law No. 12,846/2013—unofficially called…more
Anti-Bribery, Anti-Corruption, Bribery, Compliance, FCPA
The new law extends the grounds for shareholders’ liability and invalidation of transactions.
On 26 March 2014, the new Rehabilitation and Bankruptcy Law (the New Law) took effect in Kazakhstan. The New Law supersedes the…more
Bankruptcy Reform, Commercial Bankruptcy, Shareholders
Eastern District’s order aims to focus patent cases in an attempt to reduce costs.
On October 29, Chief District Judge Leonard Davis of the U.S. District Court for the Eastern District of Texas signed a general order…more
Claim Construction, Discovery, Patents, Prior Art
Companies should revisit their policies for influencer programs for compliance with the updated guidance.
Online advertising and promotion first attracted the attention of the Federal Trademark Commission (FTC) in 2009. In…more
Advertising, Endorsements, FTC, Online Advertisements, Sales Promotions
While plan sponsors of group health plans breathed a little easier this year-end, there are still important action items and reminders to consider as we look to 2016…more
Affordable Care Act, Cadillac Tax, Employer Group Health Plans, Filing Deadlines, Form 1095
New case law and statutory changes increase litigation and liability risk for employers that fail to comply with both federal and state lactation break laws…more
Affordable Care Act, Breastfeeding, Discrimination, EEOC, FLSA
The First Circuit’s decision underscores the limits of court deference to Commission decisions, gives teeth to the “substantial evidence” standard of review, and provides a valuable roadmap for evaluating and defending…more
Abuse of Discretion, Corporate Counsel, Material Misstatements, Misleading Statements, Scienter
If adopted as proposed, the costs to government contractors to implement changes necessary to meet the reporting obligations could be substantial.
On January 20, the Department of Defense, General Services Administration,…more
Comment Period, Corporate Counsel, Department of Defense (DOD), Federal Acquisition Regulations (FAR), Federal Contractors
The changes affect the areas of antenatal appointments, equal pay audits, national minimum wage, Reserve Forces membership, whistleblowing, and shared parental leave…more
Employer Liability Issues, Equal Pay, Maternity Leave, Minimum Wage, New Legislation
New TUPE Regulations come into force on 31 January, with the Department for Business, Innovation and Skills issuing updated accompanying guidance.
On 31 January 2014, the regulations that will amend the UK’s Transfer of…more
Employee Rights, TUPE, UK
Oil exports permitted for the first time in 40 years.
On December 18, the US Congress passed H.R. 2029, ominbus appropriations legislation that provides discretionary funding for the federal government for the current…more
Bipartisan Budget, Crude Oil, Energy Policy, Exports, Repeal
The five-year tax credit extension for wind and solar power facilities is a welcome development for the renewable energy industry in light of recent indications by Congress of a push to end tax credit benefits for wind and solar…more
Protecting Americans from Tax Hikes (PATH) Act, Renewable Energy, Solar Energy, Tax Credits, Wind Power
Supreme Court grants certiorari in qui tam case to consider viability and scope of the “implied certification” theory of liability under the False Claims Act.
On December 4, the US Supreme Court granted certiorari in…more
Certiorari, False Claims Act (FCA), Federal Contractors, Implied Certification, Qui Tam
For the last several years, the life sciences industry has been fertile ground for class action and aggregate litigation. Developments in this area have driven several trends, including state consumer…more
Aggregation Rules, Antitrust Litigation, Class Action, Fraud, Life Sciences
Eight years in the making, the US Securities and Exchange Commission (SEC) has finally approved the Financial Industry Regulatory Authority’s (FINRA's) proposed Rule 2242 (the Rule or Rule 2242), which will…more
Carve Out Provisions, Conflicts of Interest, Debt Securities, Disclosure Requirements, Due Diligence
The signing of the JCPOA regarding Iran nuclear sanctions may usher in a new era of major international investment in the Iranian oil and gas industry…more
Cost Recovery, Crude Oil, Energy Sector, Foreign Investment, IAEA
Take note of these practical concerns for private foundations making grants to foreign organizations.
On September 25, the Internal Revenue Service (IRS) published final regulations for private foundations making good faith…more
Affidavits, Equivalency Determinations, Final Rules, Foreign Charities, Good Faith
A new obligation requires parties to seek amicable resolution to a dispute before referring it to the court.
A New Obligation Entered into Force on 1 April 2015 -
Since 1 April 2015, parties to a civil or…more
Dispute Resolution, France
In affirming its own decision, the Consumer Financial Protection Bureau (CFPB) leaves few protections for targets in its administrative enforcement proceedings. If you are subject to a CFPB administrative proceeding, or…more
ALJ, Captive Insurance Company, CFPB, Enforcement, Enforcement Actions
Under the new law, trade unions are limited and monitored.
New Law No. 211-V of the Republic of Kazakhstan on Trade Unions, dated 27 June 2014, (the Law) has been adopted in Kazakhstan. The Law came into force on 11 July…more
New Regulations, Union Membership, Unions
On January 6, New Jersey employers must begin complying with new posting and notice requirements under the New Jersey Equal Pay Act.
On December 11, the New Jersey Department of Labor and Workforce Development (NJDOL)…more
Compliance, DOL, Equal Pay, Gender Equity, Notice Requirements
Recently issued SEC staff guidance reminds mutual fund directors of their obligations to evaluate fund payments to financial intermediaries and emphasizes investment advisers’ and other service providers’ obligation to provide…more
Board of Directors, Guidance Update, Intermediaries, Investment Adviser, Investment Company Act of 1940
In the wake of the Supreme Court's Windsor decision, employers should review and, if necessary, revise their FMLA policies and procedures to ensure compliance.
The U.S. Department of Labor (DOL) recently clarified that…more
DOL, DOMA, FMLA, Marriage, Same-Sex Marriage
The new law expands the equal pay requirement for men and women to "substantially similar work" regardless of location, modifies employers’ business justification defense, and increases employers’ recordkeeping obligations to…more
Anti-Retaliation Provisions, Appropriate Equitable Relief, Business Justification, Employee Handbooks, Equal Pay
A relator convicted of criminal conduct is precluded from sharing in related FCA recoveries, irrespective of degree of culpability.
On July 16, a US Court of Appeals for the Ninth Circuit panel upheld the dismissal from a…more
Convictions, Criminal Investigations, DOE, False Claims Act (FCA), First Impression
This Outline highlights key U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) and Financial Industry Regulatory Authority (“FINRA”) enforcement developments and cases regarding broker dealers.*
Broker-Dealer, Enforcement, Enforcement Actions, Municipal Securities Issuers, SEC
The 2015 Cromnibus and the Tax Increase Prevention Act of 2014 solve some problems and raise others.
On December 16, 2014, U.S. President Barack Obama signed the Consolidated and Further Continuing Appropriations Act of…more
Affordable Care Act, Appropriations Bill, ERISA, Expatriates, Health Insurance
The principal effect of the rules would be to turn virtually any contribution of appreciated property by a US person to a section 721(c) partnership into a taxable gain recognition event.
On August 6, the US Treasury and…more
Controlled Foreign Corporations, Corporate Taxes, Foreign Entities, IRS, Partnerships
The Act was recently amended to cover more New York City employers and to impose even greater compliance obligations than the original law passed in 2013…more
Employee Rights, Paid Leave, Sick Leave
Employers should take action to ensure compliance with new employment laws that take effect January 1, 2015.
In September 2014, California Governor Jerry Brown signed more than 300 new laws, many of which may require…more
Employer Mandates, Employment Policies, New Legislation, Wage and Hour, Year-End Planning
The statement is tax light, but there is continued focus on carried interest.
On 25 November, the UK Chancellor of the Exchequer George Osborne made a number of tax-related announcements in the 2015 Autumn Statement and…more
Autumn Statement, Common Reporting Standard (CRS), Employee Share Schemes, EU, FATCA
New authority allows FDA inspectors to quickly detain products during inspections if they believe the products are misbranded or adulterated…more
FDA, Misbranding, Pharmaceutical Industry, Prescription Drugs
Table of Contents:
Executive Summary; U.S. Securities and Exchange Commission; and Financial Industry Regulatory Authority.
Executive Summary -
This Outline highlights key U.S. Securities and Exchange…more
Broker-Dealer, Enforcement Actions, FINRA, Investment Adviser, SEC
If adopted, the proposed requirements would significantly alter funds’ ability to enter into derivatives and other financial transactions, present new operational challenges, expand reporting requirements, and impose new and…more
Board of Directors, Derivatives, Investment Companies, Proposed Regulation, Reporting Requirements
This is the first issue of “Automotive News”, a regular update on current developments in the automotive industry, with a particular focus on Germany, published by Morgan Lewis’ automotive practice for clients and interested…more
Antitrust Provisions, Auto Manufacturers, Auto Parts, Automotive Industry, Joint Venture
DOL has indicated that the final rule will be released in the first half of the year.
The US Department of Labor (DOL) sent its final Conflict of Interest Rule—Investment Advice (with related exemptions and amendments to…more
Broker-Dealer, Conflicts of Interest, DOL, ERISA, Fiduciary Duty
New market exclusivity opportunities emerge for pharmaceutical companies.
In draft guidance released by the Food and Drug Administration (FDA or the Agency) on February 24, 2014, the Agency proposed changes to its…more
Exclusive Dealing Agreements, FDA, Pharmaceutical Industry, Prescription Drugs