Author Info for Morgan Lewis

Kamilla Abdykarymova

Kazakhstan General Prosecution Office Introduces ‘Prosecutor’s Filter’ to Protect Investors

The General Prosecutor’s Office of the Republic of Kazakhstan issued an order earlier this year providing a proactive protection of rights and interests of investors in Kazakhstan. This LawFlash summarizes key takeaways from the…more

Investment, Investors, Kazakhstan, Tax Authority

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Michael Abernathy

Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative…more

303 Creative LLC v Elenis, Anti-Discrimination Policies, First Amendment, Public Accommodation, Religious Beliefs

Michael James Ableson

Antidiscrimination Laws Cannot Compel Businesses to ‘Express’ Messages They Disagree With

The US Supreme Court on June 30 sided with a website designer who claimed the First Amendment shielded her from liability under state civil rights laws for refusing to create wedding websites for same-sex couples…more

College Athletes, Colleges, Educational Institutions, Fair Labor Standards Act (FLSA), NCAA

Adam Abrahms

Third Circuit Establishes New Employee Test for Student Athletes

In Johnson v. National Collegiate Athletic Association (NCAA), the US Court of Appeals for the Third Circuit held that student athletes should be permitted to pursue a claim under the Fair Labor Standards Act (FLSA). The opinion…more

Environmental Social & Governance (ESG), Popular, Sustainability, Sustainable Finance, United Arab Emirates (UAE)

Carolyn Abram

ESG: The Middle Eastern and African Regulatory Perspective Part 1

The Middle East is witnessing a significant shift in its investment landscape. Environmental, social, and governance (ESG) considerations are no longer on the fringes but are increasingly becoming central to investment…more

Robert Abramowitz

Window of Opportunity Available for Reducing 2023 PBGC Premiums

Single-employer defined benefit pension plans that have elected to use the “alternative method” for determining Pension Benefit Guaranty Corporation (PBGC) premiums have a window to take action that may significantly reduce…more

Employee Benefits, PBGC, Pensions, Retirement Plan

Donald-Bruce Abrams

Supreme Court Won’t Hear Nextel’s Challenge to PA’s Cap on Net Operating Loss Carryforwards

Following the US Supreme Court’s denial of cert in Nextel, taxpayers with protective refund claims held pending the ultimate outcome of Nextel will need to re-evaluate their claims as Pennsylvania begins to address them…more

Appeals, Net Operating Losses, Nextel, PA Supreme Court, SCOTUS

Artificial Intelligence, Energy Sector, Nuclear Power, Nuclear Regulatory Commission, Popular

Jane Accomando

NRC Staff Lays Framework for the Agency’s AI Use

The demand for energy is anticipated to rise significantly due to the increased deployment of artificial intelligence (AI) technologies, which are highly energy intensive. As we discussed in a recent thought leadership piece,…more

Business Development Companies, Corporate Governance, Investment Company Act of 1940, Investment Funds, Securities and Exchange Commission (SEC)

Jessica Accurso

SEC Modernizes Framework for Fund Valuation Practices

Financial markets and fund investment practices have changed substantially since the US Securities and Exchange Commission (SEC) last addressed fund valuation comprehensively 50 years ago. In adopting Rule 2a-5 on December 3,…more

Consumer Financial Protection Bureau (CFPB), Department of Health and Human Services (HHS), Department of Justice (DOJ), Department of Transportation (DOT), FCC

Terresa Adams

Inaugural Strike Force Meeting Signals Broad Cross-Agency Focus on Pricing

The Federal Trade Commission (FTC) and the US Department of Justice (DOJ) on August 1, 2024 co-hosted the first public meeting of the Strike Force on Unfair and Illegal Pricing (Strike Force), formed by President Joseph Biden…more

Jeanette Kernizan Adelson

Leveraging Legal Expertise in M&A Transactions to Drive Business Success

Given the significance of strategic transactions such as mergers, acquisitions, or dispositions, it is likely that in-house counsel has competent external counsel that it can leverage to do much of the heavy lifting regarding…more

Acquisitions, Corporate Counsel, Mergers, Shareholders

Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Penalties, Securities and Exchange Commission (SEC)

Adam Adler

2017 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

Executive Summary - The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases…more

Employer Liability Issues, State Labor Departments, State Labor Laws, Temporary Employees

Joshua Adler

Illinois Expands Worker Protection Obligations of Companies Contracting with Day and Temporary Labor Service Agencies

Illinois recently issued legislation expanding the information sharing and safety training obligations of companies that contract with day and temporary labor service agencies…more

Department of Labor (DOL), Exempt-Employees, Fair Labor Standards Act (FLSA), Highly Compensated Employees, Minimum Salary

Regina Agopian

California Announces Substantial Increase in Compensation Rate for Computer Professional Exemption in 2023

California employers must ensure that compensation rates for computer professionals meet new salary thresholds, effective January 1, 2023. As inflation continues to rise, so too have the minimum wage thresholds for the…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Final Rules, Non-Compete Agreements

Jacqueline Aguilera

FTC Final Rule Banning Most Noncompete Clauses Effective September 4

The Federal Trade Commission (FTC) approved a Final Rule banning noncompete clauses for almost all workers, effective 120 days following the Rule’s publication in the Federal Register. On May 7, 2024, the Final Rule was…more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

Emily Ahdieh

DOJ Criminal Division Launches Corporate Whistleblower Awards Pilot Program

The US Department of Justice’s (DOJ) Criminal Division on August 1 announced the details of its much-anticipated Corporate Whistleblower Awards Pilot Program. This three-year initiative aims to incentivize individuals to report…more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Non-Solicitation Agreements, Restrictive Covenants

Andrew Ahn

California Further Bolsters its Prohibitions on Noncompete Agreements

On the heels of the enactment of Senate Bill 699, which fortified California’s restrictions on noncompete agreements and other restrictive covenants and provided additional employee protections, California has once more…more

Coronavirus/COVID-19, Germany, International Labor Laws, Social Distancing, Wage and Hour

Walter Ahrens

COVID-19 in Germany: The Employment Law Response – So Far

The coronavirus (COVID-19) pandemic challenges people, economies, and governments across the globe. This LawFlash highlights the actions affecting employers and employees that the German federal government has taken, or is about…more

DIFC, Dubai, Gulf Cooperation Council (GCC), United Arab Emirates (UAE)

Yousif Alawoad Al-Shammari

The New DIFC Prescribed Company Regulations 2024

The DIFC Prescribed Company Regulations 2024 (New PC Regulations) were enacted on July 15, 2024. Replacing the former PC Regulations 2019 (and the 2020 and 2022 amendments thereto), the New PC Regulations aim to streamline and…more

Banking Sector, Deposit Insurance, Disclosure Requirements, FDIC, Financial Crisis

Sari Alamuddin

Silicon Valley Bank Collapse: Initial Issues Raised

The California Department of Financial Protection & Innovation on March 10 declared Silicon Valley Bank insolvent and appointed the FDIC as receiver. To help with the resolution of SVB, the FDIC created the Deposit Insurance…more

Eric Albers-Fiedler

High-stakes Game: IRS ‘goes on the Offense’ Against Sports Industry Partnership Losses

Sports industry partnerships are now on notice that the Internal Revenue Service (IRS) is initiating specialized, issue-based BBA partnership examinations focusing on their income and deductions…more

Income Taxes, IRS, Tax Deductions, Tax Planning, Tax Returns

Bankruptcy Code, Commercial Bankruptcy, Executory Contracts, Ipso Facto Clauses

Jason Alderson

Contract Corner: Exceptions to Unenforceability of Termination in the Event of Bankruptcy Clauses (Part 2)

In Part 1, we discussed how, despite widespread usage, termination in the event of bankruptcy clauses (“ipso facto” clauses) are generally unenforceable pursuant to the bankruptcy code. In this second part, we discuss why these…more

Business Interruption, CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus

Elizabeth Khoury Ali

Paycheck Protection Program Loans: Advice for Borrowers and Lenders

Both borrowers and lenders need to be aware of issues arising from a new US government loan program for small businesses relative to existing capital structures, although some guidance also is not yet available. Both borrowers…more

Felipe Alice

Day 4 Dispatch from CERAWeek: Insights from Bill Gates and Closing Thoughts

In our final dispatch from the CERAWeek conference by S&P Global, Felipe Alice shared some insights and key takeaways from a luncheon and dialogue session featuring tech entrepreneur, investor, and philanthropist Bill Gates…more

Energy Projects, Energy Sector, Renewable Energy, Solar Energy, Wind Power

Nicole Alkire

Deciphering FinCEN’s New Anti-Money Laundering Rules for Advisers

On August 28, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) adopted a final rule that subjects investment advisers to anti-money laundering/countering the financing of terrorism…more

AML/CFT, Anti-Money Laundering, Final Rules, FinCEN, Money Laundering

Electronic Travel Authorization Program (eTA), Foreign Nationals, Immigration Procedures, Popular, UK

Yvette Allen

Expansion of UK ETA Scheme Announced

The UK Home Office published the dates that the United Kingdom’s Electronic Travel Authorisation (ETA) scheme will be rolled out to all applicable countries…more

Advertising, Endorsements, Federal Trade Commission (FTC), FTC Endorsement Guidelines, Marketing

Rochelle Alpert

FTC Letters to Endorsers Highlight Need for Transparency in Social Media Advertising

The Federal Trade Commission sent letters to online influencers and marketers regarding disclosure obligations in social media endorsements…more

Intellectual Property Protection, Patent Infringement, Patents, Pharmaceutical Industry, Pharmaceutical Patents

Stephen Altieri, Ph.d.

How to Develop Partner-Ready Patent Estates

For our third and final Biotech Week Boston post, partner Stephen Altieri—one of the many within our 250-member-strong comprehensive cross-practice life sciences team with an advanced scientific degree—discusses efficient patent…more

Corporate Branding, Cryptocurrency, Digital Assets, Intellectual Property Protection, Metaverse

Kristin Altoff

Metaverse: A Jumpstart Guide to Intellectual Property, Antitrust, and International Considerations

The term “metaverse” first appeared in Neal Stephenson’s dystopian novel Snow Crash in 1992. Two decades later, the metaverse has evolved from a concept in print into an interactive and immersive reality. Its hyper-realistic…more

Algorithms, Artificial Intelligence, Department of Justice (DOJ), Federal Trade Commission (FTC), Innovative Technology

Damos Anderson

Global Regulators Issue Joint Statement on Competition in the Generative AI Sector

The European Commission, UK Competition and Markets Authority, US Department of Justice, and US Federal Trade Commission have issued for the first time a joint statement outlining their commitment to working together to create a…more

Ksenia Andreeva

Saudi Arabia Personal Data Protection Law: Transition Period Ends September 14

The one-year transition period granted to bring businesses’ activities into compliance with the Personal Data Protection Law of the Kingdom of Saudi Arabia is about to end on September 14, 2024. Given the law’s extraterritorial…more

Cybersecurity, Data Privacy, Data Protection, Personal Data, Saudi Arabia

Energy Projects, Inflation Reduction Act (IRA), IRS, Renewable Energy, Solar Energy

Andreas Andrews

Elective Safe Harbor Released for IRA Domestic Content Tax Credit ‘Adder’

The US Department of Treasury and the IRS on May 16 released Notice 2024-41, which provides a new elective safe harbor that taxpayers may use to qualify for the domestic content bonus credit amount under Sections 45, 45Y, 48,…more

IRS, Legitimate Business Interest, U.S. Treasury

Michelle Andrighetto

IRS, Treasury Issue Guidance on ‘Business Interest Expense’ Limitation

The US Department of the Treasury and the Internal Revenue Service on April 2 issued “Initial Guidance Under Section 163(j) as Applicable to Taxable Years Beginning After December 31, 2017” (Notice 2018-28), which announces the…more

Department of Justice (DOJ), False Claims Act (FCA), Private Equity Firms

Nathan Andrisani

DOJ Targeting Private Equity Firms in False Claims Act Litigation

A recent complaint by the US Department of Justice against private equity firm Riordan, Lewis & Haden signals that such firms could be a new class of defendants in False Claims Act cases. Private equity firms are thus…more

Athletes, College Athletes, Endorsements, Intellectual Property Protection, Name and Likeness

Celina Antonellis

New York Passes Name, Image, and Likeness Law for College Athletes

The New York Collegiate Athletic Participation Compensation Act allows student athletes at colleges in New York to receive compensation for their name, image, and likeness and to use agents for endorsement deals—without…more

Daja Apetz-Dreier

EU Continues Combating Human Rights Violations with European Forced Labour Regulation

The European Parliament’s recently adopted European Forced Labor Regulation (the Regulation) aims to ban products made with forced labor from the European market, a crucial step toward the European goal of eliminating all forms…more

Due Diligence, EU, Forced Labor, Human Rights, Supply Chain

Motonori Araki

Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true…more

Investment, Investors, Japan, Limited Partnerships, Partnerships

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Sara Aranjo

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Antitrust Division, Antitrust Provisions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act

Bernard Archbold

New HSR Form Will Transform the US Merger Review Process

The Federal Trade Commission (FTC) has proposed sweeping new Hart-Scott-Rodino Act (HSR) rules along with a new proposed HSR form that would completely change the HSR process. The proposed form—which the FTC prepared in…more

Artificial Intelligence, Data Security, Innovative Technology, Machine Learning

Christopher Archer

Contract Corner: Additional Contracting Tips for AI in Service Agreements

It is no secret that usage of artificial intelligence (AI) technologies continues to expand at a rapid pace. In fact, Flexera’s 2023 Tech Spend Pulse, which is based on a survey of 506 information technology executives across…more

Artificial Intelligence, Energy Sector, Nuclear Power, Popular, Renewable Energy

Neeraj Arora

The Intersection of Energy and Artificial Intelligence: Key Issues and Future Challenges

Artificial intelligence (AI) not only provides new technological advantages to the energy industry, but also the industry is itself responsible for providing the vast (and growing) amount of energy consumption driven by the…more

Acquisitions, Antitrust Provisions, Competition, Competition Authorities, Corporate Counsel

Jack Ashfield

Landmark Reforms to UK Competition and Consumer Protection Landscape Become Law

The Digital Markets, Competition and Consumers Act 2024 received Royal Assent on May 24, 2024, ushering in the most significant reforms to the UK’s competition and consumer protection laws in a generation. The Act introduces…more

Congressional Review Act, FDIC, Financial Regulatory Reform, Financial Services Industry, FinTech

Reed Auerbach

True Lender Rule Invalidated

Congress has enacted and President Joseph Biden has signed a joint resolution of disapproval under the Congressional Review Act (CRA) of the Office of the Comptroller of the Currency’s (OCC’s) “true lender” rule, which, as we…more

Energy Projects, Inflation Reduction Act (IRA), IRS, Renewable Energy, Solar Energy

Casey August

Elective Safe Harbor Released for IRA Domestic Content Tax Credit ‘Adder’

The US Department of Treasury and the IRS on May 16 released Notice 2024-41, which provides a new elective safe harbor that taxpayers may use to qualify for the domestic content bonus credit amount under Sections 45, 45Y, 48,…more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

Meredith Auten

DOJ Criminal Division Launches Corporate Whistleblower Awards Pilot Program

The US Department of Justice’s (DOJ) Criminal Division on August 1 announced the details of its much-anticipated Corporate Whistleblower Awards Pilot Program. This three-year initiative aims to incentivize individuals to report…more

Cybersecurity, Cybersecurity Maturity Model Certification (CMMC), Department of Defense (DOD), DFARS, Federal Contractors

W. Barron A. Avery

DOD Progresses Toward CMMC 2.0 Implementation with New Proposed Rule

The US Department of Defense (DoD) has issued a new proposed rule for implementing the next iteration of the Cybersecurity Maturity Model Certification (CMMC) 2.0 program. This action drives forward the DoD’s plans to bolster US…more

Disclosure Requirements, Enforcement Actions, Securities and Exchange Commission (SEC), Securities Regulation, Securities Violations

Madeleine Ayer

Securities Enforcement Roundup – August 2024

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from August 2024. In August 2024: The SEC announced its latest round of “off-channel communications”…more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

Dana Bach

2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Jasmeen Bahous

EU Launches First In-Depth M&A Investigation Under Foreign Subsidies Regulation

The European Commission is inquiring into a United Arab Emirates-based company just months after its first investigations under the Foreign Subsidies Regulation of various Chinese companies participating in EU tenders…more

Acquisitions, Competition, Corporate Counsel, EU, Foreign Subsidies

Alexandre Bailly

EU Representative Actions Directive: The Developments to Know for This Evolving Landscape

The fragmented priorities and pace of EU member states in adopting national laws following the EU’s enactment of the Representative Actions Directive—a universal minimum-standards legal framework for representative actions aimed…more

Class Action, Collective Redress, EU, Member State

Kazakhstan, Manufacturers, Trade Relations

Asem Bakenova

Kazakhstan Government Introduces Changes to the Calculation of the Share of Domestic Value in a Product

This LawFlash summarizes key takeaways from the recent amendments by the Kazakhstan government to the formula for calculation of the share of domestic value in a product…more

Advertising, Environmental Social & Governance (ESG), Federal Trade Commission (FTC), Green Guides, Sustainability

Keir Baker

ESG and Group Action Developments: What You Need to Know

This Insight discusses the growth and development of class and collective actions and considers future trends in the United States, the European Union, and the United Kingdom…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Eva Baliner-Poggi

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Claim Construction, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board, Patents, Post-Grant Review

Conor Ball

2019 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2019, post-grant proceedings have been in use for seven years. Designed as an alternative to district court litigation, post-grant proceedings have offered litigants a faster and more cost-effective forum for resolving…more

Coronavirus/COVID-19, Employer Liability Issues, Employer Responsibilities, Hospitality Industry, Re-Opening Guidelines

Daniel Ball

Massachusetts Provides Guidance for Phases II–IV of Reopening Plan

Massachusetts is beginning to prepare for the next phase of its four-phase reopening plan. On June 1 Governor Charlie Baker issued an order allowing Phase II businesses to open their locations to workers to prepare for…more

Energy Policy, Energy Reform, Environmental Liability, Environmental Policies, Fracking

Maureen Barber

Delaware River Basin Commission Converts Fracking Moratorium into Permanent Ban

The Delaware River Basin Commission (DRBC) on February 25, 2021, approved a new regulation formally prohibiting high-volume hydraulic fracturing (HVHF), or fracking, in the Delaware River Basin. The final rule makes permanent a…more

Board of Directors, Delaware General Corporation Law, Fiduciary Duty, Mergers, Shareholders

Jody Barillare

Amendments to DGCL Proposed After Chancery Decisions on M&A Practice and Stockholder Agreements on Corporate Governance Rights

The Council of the Corporation Law Section of the Delaware State Bar Association has proposed amendments to the Delaware General Corporation Law that, if enacted by the General Assembly, will address issues raised in three…more

General Partnerships, Institutional Limited Partners Association (ILPA), Limited Partnership Agreements, Limited Partnerships

Marion Giliberti Barish

ILPA Issues Guidance on Net Asset Value–Based Credit Facilities

The Institutional Limited Partners Association (ILPA) has released new guidance for limited partners (LPs) and general partners (GPs) on net asset value–based facilities (NAV Facilities). NAV-based lending, a type of financing…more

Rosina Barker

Preparing for SEC’s Clawback Policies: 10 Compliance Tips for Public Companies

Last fall, the US Securities and Exchange Commission (SEC) announced that it had adopted new rules directing national securities exchanges, including the New York Stock Exchange (NYSE) and Nasdaq, to establish listing standards…more

Clawbacks, Executive Compensation, Incentive Compensation, Nasdaq, NYSE

Intellectual Property Protection, Life Sciences, Patents

Michael Barron

What to Expect When Licensing a Discovery from a University

Today marks the kickoff of the Biotech Week Boston event series, and for the rest of the week our As Prescribed blog will feature posts exclusively from our Boston life sciences lawyers. Local partners Michael Barron, Laurie…more

D&O Insurance, Insurance Industry, Subpoenas

Harvey Bartle IV

Federal Judge Rules D&O Coverage for Wrongful Acts Extends to Responding to Government Subpoenas

US District Judge Manish S. Shah in the Northern District of Illinois last week denied insurers’ motion to dismiss a pharmaceutical company’s action seeking insurance coverage for the costs associated with responding to a US…more

Benefit Plan Sponsors, CARES Act, Employee Benefits, Individual Retirement Account (IRA), IRS

Lisa Barton

Procrastinators Rejoice Part II: IRS Extends CARES Act Amendment Deadlines for Loan Relief and COVID-19-Related Distributions

As described in our prior blog post, the US Internal Revenue Service (IRS) recently extended many impending amendment deadlines for legislative changes made by the Setting Every Community Up for Retirement Enhancement Act of…more

Douglas Baruch

DC’s False Claims Act Enforcement Boosted By $40 Million Tax-Related Settlement

To generate revenue, increase enforcement resources, and “crack down on tax fraudsters,” the District of Columbia amended its False Claims Act (DC FCA) in 2021 to expressly impose liability arising from DC tax code violations…more

False Claims Act (FCA), Income Taxes, Qui Tam, Relators, Tax Code

FinTech, Limited Liability Company (LLC), Startups, Tax Planning

Barton Bassett

Tax Considerations and Pitfalls to Avoid for Fintech Startups

Creating a financial technology (fintech) firm comes with a host of tax considerations and implications. Decisions about the business’s structure, along with the location of both the business itself as well as its employees, can…more

Clean Energy, Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits

Ann Batlle

Inflation Reduction Act Guidance Proposed on Direct Payment for Energy Credits

The Inflation Reduction Act of 2022 opened up many energy credit opportunities for tax-exempt organizations. The Internal Revenue Service (IRS) and US Treasury Department released on June 14, 2023 proposed regulations on the…more

Department of Justice (DOJ), Fair Labor Standards Act (FLSA), Fair Workweek, Federal Trade Commission (FTC), Lactation Accommodation

Leni Battaglia

OSHA, Employment, and Antitrust: New Compliance Strategies for Luxury Retail Industry Companies

Recent labor law, workplace safety regulation, and antitrust enforcement developments are creating an increasingly complex regulatory landscape for luxury retail industry employers. Companies must navigate an array of compliance…more

Employer Liability Issues, Labor Code, Private Attorneys General Act (PAGA), State Labor Laws, Wage and Hour

John Battenfeld

California's New PAGA Bill: Key Changes and Implications for Employers

The State of California significantly overhauled the Labor Code Private Attorneys General Act of 2004 (PAGA) with the recent enactment of Assembly Bill 2288 and Senate Bill 92. This LawFlash summarizes some of the key provisions…more

Corporate Governance, Disclosure Requirements, Financial Statements, Publicly-Traded Companies, Securities and Exchange Commission (SEC)

Michael Baxter

SEC Adopts Extensive Revisions To Rules Governing Financial Information Of Acquired And Disposed Businesses

The US Securities and Exchange Commission on May 20, 2020 adopted a series of amendments to its rules and forms relating to disclosure requirements for financial statements relating to acquisitions and dispositions of…more

Double Patent, Intellectual Property Protection, Obviousness, Patent Expiration, Patent Litigation

Louis Beardell, Jr.

Federal Circuit Clarifies Proper Double-Patenting Reference

In Allergan USA v. MSN Labs, the US Court of Appeals for the Federal Circuit held, that later-filed, later-issued claims cannot serve as proper reference for invalidating earlier-filed, earlier-issued claims having the same…more

Commercial Contracts, Contract Drafting, Contract Terms, IP License, Non-Disclosure Agreement

Dana Becker

IP and Commercial Contract Litigation Developments and Trends: What Transactional Lawyers Should Know

As part of our Spotlight series, we invited litigation partners Dana E. Becker (Philadelphia), Shon Lo (Chicago), and Krista Vink Venegas, Ph.D. (Chicago), to talk about recent trends and issues in IP-related and other…more

Employer Liability Issues, Paid Leave, Sick Leave, State Labor Laws, Wage and Hour

M. Nicole Beckley

California Increases Paid Sick Leave Entitlements

Governor Gavin Newsom recently signed SB 616, which amends California’s Healthy Workplaces, Healthy Families Act of 2014 by increasing the amount of paid sick leave employers must provide to eligible California employees…more

Artificial Intelligence, Governor Newsom, Innovative Technology, Machine Learning, Technology Sector

Leigha Beckman

California’s SB 1047 Would Impose New Safety Requirements for Developers of Large-Scale AI Models

The California State Assembly passed on August 28, 2024 proposed bill SB 1047, also known as the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act, which aims to add new requirements to the development…more

Mana Behbin

Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative…more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

Elizabeth Belanger

2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Best Practices, College Admissions, Diversity, Diversity and Inclusion Standards (D&I), Educational Institutions

Kathryn Belkin

DEI and Best Practices in Corporate America: Harvard/UNC One Year Later

All eyes were on the US Supreme Court in June 2023 as the justices were poised to issue their decision in Students for Fair Admissions v. Harvard & UNC. As colleges and universities awaited the decision and wondered what it…more

Corporate Governance, Department of Labor (DOL), Disclosure Requirements, Environmental Social & Governance (ESG), Nonprofits

Megan Bell

Recent ESG Developments: What Nonprofits Should Know

While none of the recent environmental, social, and governance (ESG) developments with respect to organizations under some sort of regulatory oversight—including public companies and retirement plans—is directly relevant to…more

EU, European Commission, European Supervisory Authorities (ESAs), Regulation Technical Standards (RTS)

Oliver Bell

Preparing for DORA: ESAs Publish Incident Reporting Requirements

In our latest blog post on preparing for the EU’s Digital Operational Resilience Act (DORA), entering into force on January 17, 2025, we take a look at second-level requirements under DORA covering the classification and…more

Choice-of-Law, Hague Convention, Securities, Uniform Commercial Code (UCC)

Alan Beloff

Hague Securities Convention’s Impact on Secured Transactions Choice-of-Law Rules

Choice-of-law rules for security interests in security entitlements in securities credited to security accounts will change on April 1, 2017 when the Hague Securities Convention comes into effect…more

Antitrust Division, Antitrust Provisions, Competition, Department of Justice (DOJ), Enforcement Actions

Nathan Bennett

DOJ’s Rescission of Longstanding Guidance Creates Uncertainty for Market Benchmarking Activities

The US Department of Justice (DOJ) Antitrust Division is withdrawing three enforcement policy statements that provided important guidance on the exchange of competitively sensitive information through third parties. The guidance…more

Annual Meeting, Climate Change, Corporate Governance, Corporate Social Responsibility, Environmental Social & Governance (ESG)

Leland Benton

Proxies, Pay, and the Brave New World of ESG

Environmental, social, and governance (ESG) matters are now the subject of significantly greater regulatory scrutiny and are becoming a more prominent part of public companies’ mandatory filings, shareholder proposals, and…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Jacqueline Berman

Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative…more

Biden Administration, CARES Act, Coronavirus/COVID-19, Federal Loans, Paycheck Protection Program (PPP)

Scott Berman

Biden Administration Updates Paycheck Protection Program to Focus on Underserved Businesses

Following the enactment of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act in December 2020, the Biden administration announced several changes to the Paycheck Protection Program on February 22, 2021…more

Cal Code of Civil Procedure, Confidential Information, Employer Liability Issues, Governor Newsom, Hiring & Firing

Brian Berry

California Employers: New Law Limits NDAs in Settlement & Severance Agreements

California Governor Gavin Newsom on October 7 signed Senate Bill 331, which will prohibit employers from (1) including in a settlement agreement a clause that restricts an employee’s right to disclose information about…more

Claim Construction, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board, Patents, Post-Grant Review

Olga Berson, Ph.d.

2019 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2019, post-grant proceedings have been in use for seven years. Designed as an alternative to district court litigation, post-grant proceedings have offered litigants a faster and more cost-effective forum for resolving…more

Department of Energy (DOE), Electricity, Energy Policy, Energy Sector, Energy Storage

Paul Bessette

DOE Issues Update to Consent-Based Site Process for Spent Nuclear Fuel

The US Department of Energy’s Office of Nuclear Energy recently issued an update to its “road map for implementing a consent-based siting process” to site one or more federal interim storage facilities for spent nuclear fuel…more

Biologics, Biosimilars, BPCIA, Food and Drug Administration (FDA), Patent Infringement

Christopher Betti, Ph.d.

Blockbuster Biologics - Review Issue 24

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to…more

Animal Food, Food and Drug Administration (FDA), Food Manufacturers, Food Safety, Food Supply

Nikita Bhojani

The Horse Is Out of the Barn: FDA and AAFCO Memo of Understanding on Animal Feed Ingredients to Expire

The Association of American Feed Control Officials (AAFCO) and the US Food and Drug Administration (FDA) announced on August 2, 2024 that their long-standing Memorandum of Understanding (MOU) governing the development and review…more

Abitron Austria GmbH v Hetronic International Inc, Extraterritoriality Rules, Foreign Sales, Intellectual Property Protection, Lanham Act

Tara L. Bhupathi

Lanham Act Only Extends to Claims Stemming from US Conduct that Causes a Likelihood of Confusion

The US Supreme Court unanimously overturned a $90 million verdict for trademark infringement under the Lanham Act, 97% of which was attributed to purely extraterritorial conduct. While the holding attempts to draw a bright-line…more

Joseph Bias

California Supreme Court Shuts Down Consumer Sales Tax Suit

Dear Retail Clients and Friends: The California Supreme Court recently ruled that consumers cannot file suit to force a retailer to seek a refund of sales taxes from the California tax agency absent a determination by the…more

CA Supreme Court, Retailers, Sales Tax

CFIUS, China, Disclosure Requirements, Export Controls, Foreign Direct Investment

David Bionghi

Issuers Should Review Risk Factor Disclosures Amid US–China Tensions

Geopolitical, trade, and investment tensions between the United States and China continue due to differences on such issues as the Russia-Ukraine conflict, Taiwan, Xinjiang, Hong Kong, Tibet, the South China Sea, human rights,…more

Kevin Biron

Appellate Court Holds Servicers Can Set Aside Litigation Reserves

The Minnesota Court of Appeals affirmed in a recent case that the securitization agreements at issue authorized the creation of reserves to ensure that the securitization trust could meet its contractual obligation to indemnify…more

Appeals, Indemnification, Investors, Securitization

Lincoln Bisbee

OSHA, Employment, and Antitrust: New Compliance Strategies for Grocery Industry Companies

Recent labor law, workplace safety regulation, and antitrust enforcement developments are creating an increasingly complex regulatory landscape for grocery industry employers. Companies must navigate an array of compliance…more

Fair Workweek, OSHA, Wage and Hour, Work Schedules, Workplace Safety

Business Closures, CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus

Jeannine Bishop

Retail Did You Know? CARES Act Provides Important Relief for Retail & Hospitality Companies

Dear Retail Clients and Friends, This edition of Morgan Lewis Retail Did You Know? examines how the Coronavirus Aid, Relief, and Economic Security (CARES) Act impacts companies in the retail and hospitality sector..…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), PEP

Craig Bitman

Could Sponsoring a Pooled Employer Plan Grow Your Business?

While large financial institutions with significant expertise in retirement plan administration are widely expected to sponsor most pooled employer plans (PEPs), other firms (such as franchisors, gig economy employers, joint…more

403(b) Plans, Benefit Plan Sponsors, Compensation & Benefits, Defined Contribution Plans, Employee Benefits

Summer Blackburn

IRS Issues Important Reminder on Application of IRC Section 415(c) Limit to 403(b) Plans

The Internal Revenue Service (IRS) issued an important reminder of the unique application of the limit under Internal Revenue Code (IRC) Section 415(c) to 403(b) plans on August 20, 2021. The IRS’s “Issue Snapshot” highlighted a…more

Margaret Blake

Congress Codifies SEC Staff's M&A Broker No-Action Letter ... With a Tweak

As many are aware, Congress passed its own version of the US Securities and Exchange Commission (SEC) staff’s mergers and acquisitions (M&A) broker no-action letter in December 2022, creating a new exemption from broker…more

Broker-Dealer, Brokers, EBITDA, Investment Adviser, No-Action Letters

Investors, Schedule 13D, Securities and Exchange Commission (SEC), Securities Exchange Act of 1934

Michael Blanchard

Second Circuit Affirmance of ‘Sterilization’ Remedy Denial in 13d Case Reinforces Need for Appropriate Advance Notice Bylaws

The US Court of Appeals for the Second Circuit recently affirmed a District Court’s denial of a company’s request to “sterilize” the voting securities of stockholders who allegedly violated the disclosure requirements of Section…more

Russell Blau

The DC Circuit Affirms the FCC’s Open Internet Rules

The court upholds the FCC’s authority to regulate internet access services as telecommunications carriers and impose restrictions on blocking and throttling internet content…more

Broadband, FCC, Free Speech, Internet, Internet Service Providers (ISPs)

Administrative Procedure Act, CFTC, Chevron Deference, Chevron v NRDC, Government Agencies

Fred Block

Financial Regulation in a Post-Chevron World: What’s Next?

The US Supreme Court’s decision in Loper Bright Enters. v. Raimondo and Relentless v. Department of Commerce has raised questions regarding the future of financial services regulation, including by the US Securities and Exchange…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

Jeremy Blumenfeld

Assessing Your Health Plan’s Service Provider Compensation

Based on new ERISA disclosure rules, now is a good time to review the compensation paid to your health plan’s consultant and broker. ERISA Section 408(b)(2)(B) requires brokers and consultants expecting $1,000 or more in direct…more

Joshua Bobeck

The DC Circuit Affirms the FCC’s Open Internet Rules

The court upholds the FCC’s authority to regulate internet access services as telecommunications carriers and impose restrictions on blocking and throttling internet content…more

Broadband, FCC, Free Speech, Internet, Internet Service Providers (ISPs)

Administrative Law Judge (ALJ), Broker-Dealer, CFTC, Cybersecurity, Disgorgement

David Boch

Current Developments in Sec and Finra Examinations & Enforcement 2022–2023 - A Special Report for Investment Advisers and Broker-Dealers

Registered entities continued to be a significant focus of the US Securities and Exchange Commission’s (SEC’s or Commission’s) enforcement and rulemaking programs in 2022, and we expect similar attention this year. The SEC’s…more

Board of Directors, Breach of Duty, Fiduciary Duty, Venture Capital

Jeffrey Bodle

Staying in the Fight: Getting Your Company Through the Down Round to the Next Round of Financing

A “down round” is when a company raises capital based on a valuation that is lower (often materially so) than the company’s valuation in one or more prior financing rounds. Depending on the severity of the situation, a “down…more

Melissa Boey

‘Unimpairment’ Under Chapter 11: More Than Just a Non-Word

It begins with an awkward mouthful. Outside a bankruptcy brief, is “unimpairment” even a word? (No, per Merriam-Webster.) Inside Chapter 11, it’s much more: a trend…more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors

Banking Sector, FATCA, Final Rules, Financial Conduct Authority (FCA), Financial Institutions

Charles Bogle

Final Treasury Regulations Published on Transition from IBORs to Qualified Rates

The Internal Revenue Service and the US Treasury Department have issued final regulations providing rules for taxpayers transitioning from interbank offered rates to qualified rates. These regulations provide financial…more

Ability-to-Repay, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Regulatory Reform, Financial Services Industry

Harlyn Bohensky

CFPB Finalizes Qualified Mortgage Changes

The Consumer Financial Protection Bureau (Bureau or CFPB) issued two final rules on December 10 with significant implications for the mortgage marketplace. Of the two final rules from the Bureau, one drastically simplifies the…more

CA Supreme Court, Employer Liability Issues, Labor Code, Wage and Hour, Wage Statements

Kevin Bohm Jr.

California Supreme Court Confirms There is a Good Faith Defense to Wage Statement Penalties

The California Supreme Court recently issued its opinion in Naranjo v. Spectrum Security Services Inc., resolving a split of authority in California state and federal courts whether there is a “good faith” defense to claims…more

Robert Bolgar-Smith

Bitcoin Identity Trial Concludes Dr. Craig Wright Is Not the Creator of Bitcoin

Dr. Craig Wright’s claim to be Satoshi Nakamoto, the elusive creator of bitcoin and author of the bitcoin white paper, has been unequivocally dismissed by Mr. Justice Mellor of the British High Court. The judgment, issued on 20…more

Bitcoin, Cryptocurrency, Digital Currency, UK, Virtual Currency

Celia Calano Bologna

New York Attorney General Alleges Company Misled with Ads of Net-Zero Emissions Goals

The lawsuit against meat packer JBS Foods concerns the company’s advertisements that it would be “Net Zero by 2040” and is one in a growing number of claims arising from allegedly deceptive environmental marketing claims. It…more

Advertising, Environmental Claims, NAD, NARB, Net Zero

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Nick Bolter

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

Emily Booth

Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

CARES Act, Coronavirus/COVID-19, Financial Stimulus, Relief Measures, Unemployment Benefits

Christopher Boran

Unemployment Benefits in the CARES Act

The Relief for Workers Affected by Coronavirus Act (Act), part of the Coronavirus Aid, Relief, and Economic Security Act—known as the CARES Act—provides enhanced unemployment payments for workers traditionally eligible for…more

Eric Bord

Proposed H-1B Modernization – A Conversation with Shannon Donnelly

As part of our Spotlight series, we invited Shannon Donnelly, a partner in our Washington, DC office who works with clients on a wide range of complex global immigration and mobility issues, to discuss the proposed H1B…more

Foreign Nationals, Foreign Workers, H-1B, Immigrants, Immigration Procedures

Daniel Bordoni

Trump National Labor Relations Board Reverses Major Obama-Era Decisions

With the issuance of four recent decisions overruling key Obama-era National Labor Relations Board precedent and announcing a review of the NLRB’s 2015 election regulations, the NLRB has begun the process of charting a new…more

Joint Employers, NLRA, NLRB, Trump Administration

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

Sarah Bouchard

DOJ Criminal Division Launches Corporate Whistleblower Awards Pilot Program

The US Department of Justice’s (DOJ) Criminal Division on August 1 announced the details of its much-anticipated Corporate Whistleblower Awards Pilot Program. This three-year initiative aims to incentivize individuals to report…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), IRS

Claire Bouffard

Secure Act 2.0: DOL and IRS Issue Coordinated Guidance on PLESAS

The US Department of Labor and Internal Revenue Service have issued coordinated guidance on the pension-linked emergency savings account (PLESA), a new in-plan emergency savings account feature created by the SECURE 2.0 Act of…more

10b5-1 Plans, Disclosure Requirements, Insider Trading, Securities Act of 1933, Securities and Exchange Commission (SEC)

G. Jeffrey Boujoukos

Current Developments in SEC Enforcement for Public Companies 2024

The US Securities and Exchange Commission (SEC) continued its significant focus on public companies in 2023 with its enforcement and rulemaking programs, and this heightened level of attention will continue throughout 2024…more

401k, 403(b) Plans, Employee Benefits, Employee Retirement Income Security Act (ERISA), Retirement

Matias Bowman

Retirement Plans: Bona Fide Job-Based Exclusion or Impermissible Service Condition?

Employers utilizing class-based criteria to exclude employees from retirement plan participation face new issues and considerations following the adoption of the long-term part-time employee (LTPTE) rules in SECURE 1.0 and…more

Corporate Crimes, Criminal Investigations, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

Megan Braden

DOJ Deputy Attorney General Pledges New Approach to Corporate Crime

Deputy Attorney General Lisa Monaco described important changes to the Department of Justice’s corporate criminal enforcement policies during her October 28, 2021 keynote address to the ABA’s 36th National Institute on White…more

James Bradley

European Council Issues Guidance on Recently Imposed ‘No Russia’ Clause for EU Exporters

EU-based aircraft owners and lessors, among other exporters, will soon have to incorporate a “No Russia” clause in their contracts with non-EU counterparties for the sale, supply, transfer, or export of aircraft and aircraft…more

Economic Sanctions, EU, Export Controls, Exporters, Exports

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

Johnathon Bramble

Texas Federal Court ‘Sets Aside’ FTC’s Noncompete Clause Rule

Judge Ada Brown of the US District Court for the Northern District of Texas entered a final judgment in Ryan LLC v. Federal Trade Commission (FTC) on August 20, 2024, holding unlawful and setting aside the FTC Noncompete Clause…more

Anti-Corruption, Bribery, Corruption, Foreign Corrupt Practices Act (FCPA), Sports

Jennifer Breen

Staying in Bounds: Compliance Considerations in the Sports Industry

In the complex and dynamic world of sports, legal compliance is crucial for maintaining integrity, ensuring fair play, and safeguarding the interests of all stakeholders. From anti-corruption measures to tax issues to antitrust…more

Artificial Intelligence, Governor Newsom, Innovative Technology, Machine Learning, Technology Sector

Dion Bregman

California’s SB 1047 Would Impose New Safety Requirements for Developers of Large-Scale AI Models

The California State Assembly passed on August 28, 2024 proposed bill SB 1047, also known as the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act, which aims to add new requirements to the development…more

Business Closures, CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus

Patricia Brennan

Retail Did You Know? CARES Act Provides Important Relief for Retail & Hospitality Companies

Dear Retail Clients and Friends, This edition of Morgan Lewis Retail Did You Know? examines how the Coronavirus Aid, Relief, and Economic Security (CARES) Act impacts companies in the retail and hospitality sector..…more

Federal Trade Commission (FTC), Filing Fees, Hart-Scott-Rodino Act, Size of Transaction Test, Threshold Requirements

David Brenneman

FTC HSR Act Threshold and Filing Fee Increases Become Effective March 6

The previously announced Hart-Scott-Rodino Act (HSR Act) jurisdictional filing thresholds and fees will go into effect on March 6, 2024. The Federal Trade Commission’s (FTC’s) previously announced increases to HSR Act…more

Claim Construction, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board, Patents, Post-Grant Review

Calvin Brien

2019 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2019, post-grant proceedings have been in use for seven years. Designed as an alternative to district court litigation, post-grant proceedings have offered litigants a faster and more cost-effective forum for resolving…more

Biden Administration, Employer Liability Issues, Inflation Reduction Act (IRA), OSHA, Workplace Safety

Brandon Brigham

Biden Administration’s Focus on Unions Extends to OSHA and Inflation Reduction Act Projects

Beyond the recent, precedent-rewriting National Labor Relations Board decisions that have been making headlines, the Biden administration has been furthering its pro-labor agenda through other rulemaking efforts, from the US…more

Samson Brill

Football Governance Bill Establishing Independent Football Regulator Introduced to UK Parliament

The Football Governance Bill was introduced to the UK Parliament on 18 March 2024. If passed, the Bill will establish an independent football regulator for England, install a new licensing regime for English football clubs, and…more

Investment, Investors, Soccer, UK, UK Parliament

Abbey Brimson

FTSE Russell Confirms Changes to FTSE Indices Criteria to Reflect New UK Listing Regime – Publications

Following the recent publication of the new UK Listing Rules (UKLRs), FTSE Russell published guidance on how the criteria for inclusion in the FTSE indices will change to reflect the new regime…more

Corporate Governance, FTSE, Listing Rules, UK

Julia Bringhurst

SECURE Act 2.0: Expanded Self-Correction and New Overpayment Correction Rules and Relief

The SECURE 2.0 Act of 2022 makes far-ranging changes to the US employer-retirement plan system intended to expand access to retirement plans and encourage savings by US workers. This LawFlash—one in a series—examines provisions…more

Employee Benefits, EPCRS, Individual Retirement Account (IRA), IRS, Retirement

Abu Dhabi Global Markets (ADGM), Employer Liability Issues, Retaliation, Whistleblowers

Christopher Brinley

Abu Dhabi Global Market Consults on Whistleblower Protection

The Abu Dhabi Global Market free zone (ADGM) is seeking public consultation on its proposals for a whistleblowing framework, which will lead to the introduction of Whistleblower Protections Regulations (the Regulations) and…more

Antitrust Provisions, Business Interruption, Class Action, Colleges, Coronavirus/COVID-19

Robert Brochin

Colleges and Universities: Litigation Challenges and Risk Mitigation in the Face of COVID-19

In navigating the coronavirus (COVID-19) pandemic, higher education institutions should be aware of a recent wave of refund class actions, antitrust considerations in communication with other institutions, claims for business…more

Capital Markets, Corporate Issuers, Foreign Exchanges, Kazakhstan, Listing Standards

Carter Brod

Amendments to Astana International Financial Centre and Astana International Exchange Rules

The amendments came into force in July 2020 and are generally positive for market participants, particularly for issuers considering cross- and dual-listings…more

Construction Industry, Employer Liability Issues, NLRB, Unfair Labor Practices, Union Representatives

David Broderdorf

NLRB Adopts Final Regulations to Restrict Employee Choice on Union Representation

The National Labor Relations Board (NLRB or Board) on August 1 published a new rule addressing three distinct situations affecting employees’ rights to decide whether they want union representation (New Rule). The New Rule…more

Controlled Foreign Corporations, Corporate Taxes, Foreign Entities, IRS, Partnerships

Sarah Brodie

Treasury and IRS Release Notice 2015-54: Potential Impact on Domestic and Foreign Partnerships

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

Automotive Industry, Biden Administration, Electric Vehicles, Environmental Protection Agency (EPA), Executive Orders

David Brown

EPA Kicks the Tires on Stricter Passenger Car Tailpipe Emission Standards

The proposed emissions requirements would be phased in over model years 2027 through 2032, drastically accelerating the nationwide transition to zero-emission vehicles (ZEVs) consistent with the Biden administration’s commitment…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Troy Brown

Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

Vanessa Marie Brown

Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

Russell Bruch

OSHA, Employment, and Antitrust: New Compliance Strategies for Grocery Industry Companies

Recent labor law, workplace safety regulation, and antitrust enforcement developments are creating an increasingly complex regulatory landscape for grocery industry employers. Companies must navigate an array of compliance…more

Fair Workweek, OSHA, Wage and Hour, Work Schedules, Workplace Safety

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

Nathaniel Bruhn

Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Online Platforms, Outsourcing, Social Media, Social Networks

Brooke Bruno

Emerging Market Trend: An Overview of Content Moderation Outsourcing

Although the advent of readily accessible social media platforms has allowed for the proliferation of user content worldwide, there is increasing pressure on social media platforms and related companies to moderate the content…more

Acquisitions, Employee Benefits, Employer Liability Issues, Employment Contract, Executive Compensation

Samuel Bryant

Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 3—Impact on Mergers and Acquisitions

This is the third part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC), banning the enforcement of almost all noncompete…more

Electronic Travel Authorization Program (eTA), Foreign Nationals, Immigration Procedures, Popular, UK

Carina Bryk

Expansion of UK ETA Scheme Announced

The UK Home Office published the dates that the United Kingdom’s Electronic Travel Authorisation (ETA) scheme will be rolled out to all applicable countries…more

Broker-Dealer, Financial Institutions, Risk Management, Securities and Exchange Commission (SEC), Securities Exchange Act

Katherine Dobson Buckley

SEC Adopts New Treasury Clearing Rules

On December 13, 2023, the US Securities and Exchange Commission (SEC) adopted rule amendments (Treasury Clearing Rules) designed to improve risk management in clearance and settlement and to facilitate additional central…more

Accounting Standards, FASB, Financial Accounting, Financial Reporting, Financial Statements

Andrew Budreika

New FASB Standards Mandate Disclosure of Reverse Factoring Programs

Due to new standards issued by the Financial Accounting Standards Board (FASB) in late 2022, companies with supply chain financing are now required to comply with additional disclosures intended to monitor and understand the…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Michele Buenafe

Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative…more

Nicole Buffalano

NLRB Expands Definition of Protected Concerted Activity and Employer Bargaining Obligations

The National Labor Relations Board (NLRB) recently issued a flurry of decisions prior to the expiration of Member Gwynne Wilcox’s first term at the end of August. These decisions joined the sweeping changes to NLRB…more

Employer Liability Issues, NLRA, NLRB, Protected Concerted Activity, Unions

Anti-Money Laundering, Beneficial Owner, Corporate Transparency Act, Financial Crimes, FinCEN

Gregg Buksbaum

Corporate Transparency Act: Beneficial Ownership Reporting Requirements for Small, Medium Businesses Effective Jan. 1

The Financial Crimes Enforcement Network’s final rule implementing the Corporate Transparency Act’s beneficial ownership information reporting requirements will become effective on January 1, 2024. Small and medium businesses…more

E-Verify, Employer Liability Issues, Employment Eligibility Verification, Foreign Workers, Immigration Procedures

Jennifer Bullock

Florida’s New Immigration Law to Require Private Employers to Use E-Verify

Florida’s new immigration bill, effective July 1, will require private employers with 25 or more employees to verify compliance with US work authorization regulations through the E-Verify system. Previously, only public…more

Board of Directors, Captive Insurance Company, Corporate Officers, D&O Insurance, Delaware General Corporation Law

Lauren Silvestri Burke

Delaware Fully Embraces Captive Insurance as an Option to Protect Directors and Officers

Delaware amended its Corporation Law (Section 145(g)) to expressly permit the use of captive insurance to protect directors and officers, including from claims for which indemnification is prohibited, joining many other key…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

Timothy Burke

Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

Civil Rights Act, Employee Transfers, Employer Liability Issues, Employment Litigation, Muldrow v City of St Louis

Michael Burkhardt

US Supreme Court Expands the Scope of Employment Decisions That Can Support Title VII Claims

The US Supreme Court ruled on April 17 that any “disadvantageous” change in the “terms and conditions” of employment that is based on race, gender, or another protected characteristic is actionable under Title VII, even if the…more

Laurie Burlingame

Trends and Tips for Navigating Life Sciences M&A in 2024

Dealmaking in the life sciences sector comes with characteristics not typically seen in more traditional mergers and acquisitions (M&A). Deals often involve negotiating around complexities associated with both the unique nature…more

Acquisitions, Investment, Life Sciences, Mergers, Pharmaceutical Industry

Corporate Counsel, Employer Liability Issues, Governor Murphy, Staffing Agencies, State Labor Laws

Rudolph Burshnic II

New Jersey Enacts First-of-Its-Kind Temporary Workers’ Bill of Rights

New Jersey Governor Phil Murphy recently signed into law the Temporary Workers’ Bill of Rights, which is the first law in the nation to require equal pay for temporary workers. Under the law, employers must pay temporary workers…more

Coronavirus/COVID-19, FRB, Main Street Lending Programs, Main Street New Loan Facility, Relief Measures

Kristen Campana

Main Street Lending Program (UPDATED)

This White Paper gives a broad understanding of the terms and implications of the Main Street Lending Program by delving into the key questions market participants are likely to have and addressing the latest changes implemented…more

Anonymization, Cybersecurity, Data Protection, EU, General Data Protection Regulation (GDPR)

Patrick Campbell Jr.

The eData Guide to GDPR: Anonymization and Pseudonymization Under the GDPR

The EU General Data Protection Regulation (GDPR) regulates the use of personal data collected from European data subjects, including activities of non-European companies that target or process European data subject personal…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Department of Labor (DOL), Equal Employment Opportunity Commission (EEOC)

Crystal Carey

Practical Guidance on Labor and Employment Issues in a Post-Chevron World

With the US Supreme Court’s June 28 decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, the four-decades Chevron doctrine is no longer. While the Court’s decision has altered administrative…more

Administrative Procedure Act, Chevron Deference, Environmental Protection Agency (EPA), Loper Bright Enterprises v Raimondo, Popular

Debra Carfora

DC Circuit Makes Clear Loper Bright Did Not End Deference to Agency Factual Determinations

In a decision on the US Environmental Protection Agency’s risk assessment of a chemical included in its Miscellaneous Organic Chemical Manufacturing (MON) rule, the US Court of Appeals for the District of Columbia Circuit…more

Adverse Employment Action, Decriminalization of Marijuana, Drug Testing, Employer Liability Issues, Employment Policies

Alexis Caris

Washington, DC, Takes Steps to Protect Employees’ Off-Duty Marijuana Use

Washington, DC, City Council unanimously passed a bill on June 7 that would prohibit employers from basing adverse employment actions on an individual’s lawful, off-duty use of marijuana, unless certain exceptions apply. The…more

Investment Company Act of 1940, Investment Management, Liquidity, Liquidity Risk Management Rule, Mutual Funds

K. Michael Carlton

SEC Proposes Mandatory Swing Pricing for Mutual Funds and Revised Liquidity Requirements

On November 2, 2022, the US Securities and Exchange Commission (SEC), by a 3-2 party line vote, proposed amendments (the Proposal) to the liquidity risk management programs rule (Rule 22e-4) under the Investment Company Act of…more

Daniel Carmody

Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

Confidential Information, Early Stage Companies, Entrepreneurs, Life Sciences, Master Service Agreement

James Carrigan

How Early-Stage Life Sciences Companies Can Avoid Potential Legal Missteps Through These Five Key Commercial Agreements

In the early days of a life science company, there can be confusion and a number of landmines where legal missteps may happen. As part of our 2022 Startup & Accelerate Webinar Series, we look at five key commercial agreements…more

Melis Kiziltay Carter

UK Adequacy Decision for European Data Transfers

The European Commission has finally approved two decisions on 28 June granting the United Kingdom the cherished status of having “adequate” data protection laws so that transfers of personal data from the European Union are not…more

Corporate Counsel, Cybersecurity, Data Protection, EU, EU Data Protection Laws

Discovery, Electronically Stored Information, Federal Rules of Civil Procedure, Proportionality, Spoliation

Lorraine Casto

Key Changes to the Federal Rules Governing Discovery

Important amendments went into effect on December 1. The major changes to the Federal Rules of Civil Procedure that govern discovery in federal cases affect Rules 26, 34, and 37…more

Corporate Counsel, Court of Justice of the European Union (CJEU), Cybersecurity, Data Protection, EU

Vincent Catanzaro

Schrems II Could Disrupt US Courts’ Common Ground on eDiscovery and Data Transfers from Europe - THE EDATA GUIDE TO GDPR

Schrems II may force companies obligated to produce EU personal data to the task of determining whether to comply with US discovery obligation rules that risk fines under the GDPR for illegal data transfers or to defy the US…more

Board of Directors, Delaware General Corporation Law, Fiduciary Duty, Mergers, Shareholders

Michelle Catchur

Amendments to DGCL Proposed After Chancery Decisions on M&A Practice and Stockholder Agreements on Corporate Governance Rights

The Council of the Corporation Law Section of the Delaware State Bar Association has proposed amendments to the Delaware General Corporation Law that, if enacted by the General Assembly, will address issues raised in three…more

Board of Directors, Delaware General Corporation Law, Fiduciary Duty, Mergers, Shareholders

Alyssa Cavallo

Amendments to DGCL Proposed After Chancery Decisions on M&A Practice and Stockholder Agreements on Corporate Governance Rights

The Council of the Corporation Law Section of the Delaware State Bar Association has proposed amendments to the Delaware General Corporation Law that, if enacted by the General Assembly, will address issues raised in three…more

CFIUS, Department of Homeland Security (DHS), Department of Justice (DOJ), Export Control Reform Act (ECRA), Export Controls

Patricia Catherine Cave

US House of Representatives Holds ‘China Week’ – What Happened and What’s Next?

With federal elections and the conclusion of the 118th Congress drawing near, “China Week,” as dubbed by House leadership, presented one of the final opportunities for the US House of Representatives to act on a variety of…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

John Ceccio

Texas Federal Court ‘Sets Aside’ FTC’s Noncompete Clause Rule

Judge Ada Brown of the US District Court for the Northern District of Texas entered a final judgment in Ryan LLC v. Federal Trade Commission (FTC) on August 20, 2024, holding unlawful and setting aside the FTC Noncompete Clause…more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

Arcangelo Cella

2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,…more

Board of Directors, Bylaws, Corporate Governance, Shareholders

Laurie Cerveny

Delaware Supreme Court Raises the Bar on Plaintiffs’ Firms Extracting Fees for Challenges to Advance Notice Bylaws

The Delaware Supreme Court on July 11 partially reversed the Delaware Court of Chancery decision in Kellner v. AIM ImmunoTech, which had held that certain advance notice bylaw provisions were “facially invalid,” holding instead…more

Investors, Schedule 13D, Securities and Exchange Commission (SEC), Securities Exchange Act of 1934

Justin Chairman

Second Circuit Affirmance of ‘Sterilization’ Remedy Denial in 13d Case Reinforces Need for Appropriate Advance Notice Bylaws

The US Court of Appeals for the Second Circuit recently affirmed a District Court’s denial of a company’s request to “sterilize” the voting securities of stockholders who allegedly violated the disclosure requirements of Section…more

Foreign Direct Investment, Foreign Investment, Investors, National Security

Olivier Chambord

France Implements Updates to Its FDI Screening Regime

The regime for control of foreign direct investment (FDI) in France has recently experienced significant changes, including through guidelines published by the General Directorate of the Treasury, the implementation of an online…more

Broker-Dealer, Corporate Governance, Cyber Attacks, Cyber Incident Reporting, Cyber Threats

Carmen Chan

Proactive Approach To Cybersecurity: Recent SEC guidance and enforcement actions suggest that reactive firms may be in the SEC’s crosshairs

In an environment where even the largest and most powerful corporations have fallen victim to data breaches, it can be challenging to fathom how to protect against the sophisticated and ever-evolving threat of cyber attacks. The…more

June Chan

HKEX to Further Promote Its Paperless Initiative in 2024

The Stock Exchange of Hong Kong Limited (HKEX) recently released its Consultation Conclusions on the Consultation Paper introduced in December 2022, Proposals to Expand the Paperless Listing Regime and Other Rule Amendments,…more

HKEx, Hong Kong, Hong Kong Stock Exchange, Listing Rules

Banking Sector, Banks, Financial Services Industry, Monetary Authority of Singapore, Singapore

Mei Sum Chan

Monetary Authority of Singapore’s Enhanced Investigative and Supervisory Powers

Singapore’s new bill grants the Monetary Authority of Singapore (MAS) broader authority over the financial sector to oversee, investigate, and penalize misconduct. It aims to address the industry's growth and complexity,…more

Financial Services Industry, Investment Adviser, Securities and Exchange Commission (SEC)

Peter Chan

DC Circuit Ruling May Limit SEC Ability to Bar or Suspend Registered Persons

The US Court of Appeals for the DC Circuit upended a longstanding Securities and Exchange Commission (SEC or Commission) position by ruling on April 30 that “willful” conduct—a frequent prerequisite in a broad range of sanctions…more

Monica Chang

California Law Will Obligate VC Firms to Report Portfolio Company Diversity Metrics

California Governor Gavin Newsom recently signed Senate Bill 54, which aims to increase diversity among founders that are backed by venture capital (VC) companies. If implemented in its current version, SB 54 will likely apply…more

California, Governor Newsom, Investors, Startups, Venture Capital

Ballot Measures, Consumer Privacy Rights, Data Breach, Privacy Laws

Ellie Chapman

California Consumer Privacy Act Could Spell a Sea Change in US Privacy Law

The California Consumer Privacy Act, which could be on the ballot in November, aims to introduce a groundbreaking approach to consumer privacy that not only is likely to resonate with the state’s voters, but is also expected to…more

Board of Directors, Captive Insurance Company, Corporate Officers, D&O Insurance, Delaware General Corporation Law

Daniel Chefitz

Delaware Fully Embraces Captive Insurance as an Option to Protect Directors and Officers

Delaware amended its Corporation Law (Section 145(g)) to expressly permit the use of captive insurance to protect directors and officers, including from claims for which indemnification is prohibited, joining many other key…more

Ascertainable Class, Breach of Contract, Breach of Implied Contract, Class Action, Class Certification

Christina Chen

COVID-19: Court Denies Motion for Class Certification in Ticket Refund Case

A federal district court in Florida denied a plaintiff’s motion for class certification in a putative class action asserting claims on behalf of ticket purchasers against Viagogo, a secondary ticket marketplace platform, for…more

Coronavirus/COVID-19, Corporate Restructuring, Financial Distress, Infectious Diseases, Insolvency

Guan Feng Chen

Singapore Introduces ‘Simplified Insolvency Programme’ for Micro and Small Companies

Micro and small companies will be able to use a “Simplified Insolvency Programme” to be introduced by proposed amendments to Singapore’s Insolvency, Restructuring, and Dissolution Act 2018 (IRDA)…more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

Kenneth Cheney

PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Stephen Cheong

Singapore Court Rules on Right to Challenge Arbitral Awards on Jurisdictional Grounds

On 9 May 2019, the Singapore Court of Appeal in Rakna Arakshaka Lanka Ltd v Avant Garde Maritime Services (Pte) Ltd [2019] SGCA 33 considered whether a respondent who failed to appeal to the Singapore courts in accordance with…more

Arbitration, Arbitration Awards, International Arbitration, Singapore, UNCITRAL

Abu Dhabi Global Markets (ADGM), Escrow Accounts, Financial Services Industry, United Arab Emirates (UAE)

Alexey Chertov

ADGM Issues Real Estate Consultation Paper: Changes to Real Estate Regulations

The Abu Dhabi Global Market (ADGM) recently issued a consultation paper seeking opinions on how to revamp its real estate legal framework in light of the expansion of the ADGM territory to include Al Maryah Island and Al Reem…more

Keith Cheung

HKEX to Further Promote Its Paperless Initiative in 2024

The Stock Exchange of Hong Kong Limited (HKEX) recently released its Consultation Conclusions on the Consultation Paper introduced in December 2022, Proposals to Expand the Paperless Listing Regime and Other Rule Amendments,…more

HKEx, Hong Kong, Hong Kong Stock Exchange, Listing Rules

Adjudicatory Process, Construction Contracts, Contract Disputes, Singapore

Leonard Chew

Singapore Court of Appeal: Claims from Other Contracts Cannot Be Set Off in an Adjudication

Singapore’s Court of Appeal recently ruled that claims and set-offs from other contracts between the two parties in an adjudication are not consistent with the purpose of the Building and Construction Industry Security of…more

Adjudicatory Process, Singapore, SOP Act

Lynette Chew

Singapore Court of Appeal Provides Guidance on Duty of Adjudicators to Consider Issues Raised by Parties

The Singapore Court of Appeal, in Bintai Kindenko Pte Ltd v Samsung C&T Corporation (2018) SGCA 39, recently upheld the decision of the High Court in setting aside an adjudication determination made under the Building and…more

Banking Sector, Banks, Financial Services Industry, Monetary Authority of Singapore, Singapore

Lianne Chia

Monetary Authority of Singapore’s Enhanced Investigative and Supervisory Powers

Singapore’s new bill grants the Monetary Authority of Singapore (MAS) broader authority over the financial sector to oversee, investigate, and penalize misconduct. It aims to address the industry's growth and complexity,…more

Employer Liability Issues, Hiring & Firing, Labor Regulations, Layoffs, Severance Pay

Ashley Chilton

New Jersey WARN Act to Impose Mandatory Severance Pay, Stricter Employer Obligations

The amended New Jersey WARN Act will impose significantly stricter obligations (including potential individual liability) and make New Jersey the first state to mandate severance pay to employees separated as a result of certain…more

California Consumer Financial Protection Law (CCFPL), Consumer Financial Products, Department of Financial Protection and Innovation (DFPI), Enforcement Actions, FinTech

Michelle Park Chiu

California DFPI Staffs Up, Begins Investigating Previously Out-of-Reach Businesses

The California Department of Financial Protection and Innovation (DFPI) announced in its January 2021 monthly bulletin that it will begin exercising its enhanced powers under the California Consumer Financial Protection Law…more

Coronavirus/COVID-19, Employer Responsibilities, Re-Opening Guidelines, Return-to-Work Agreements, UK

Yulia Chizh

Reopening the Workplace: A Preliminary Guide for UK Employers

Key issues that UK employers should begin considering now to minimize difficulties as they reopen or expand their operations include reintegrating staff, assessing internal policies in light of the pandemic, testing for the…more

Karen Cho

California Law Requires Pay Range Disclosures on Job Postings and Mandates Pay Data Reporting

Employers in California must include pay ranges in all job advertisements effective January 1, 2023, and must submit comprehensive pay data for employees and subcontractors to the California Civil Rights Department starting on…more

California, Employees, Employer Liability Issues, New Legislation, Pay Data

Cal-OSHA, California, Employer Liability Issues, Health and Safety, Heat Exposure

Kaiser Chowdhry

Cal/OSHA Standards Board Approves Its First-Ever Indoor Heat Rule

The California Occupational Safety and Health (Cal/OSHA) Standards Board voted unanimously to approve a new indoor heat illness rule covering the vast majority of California employers…more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Criminal Antitrust Litigation, Department of Justice (DOJ)

Jason L. Chrestionson

DOJ Updates Antitrust Leniency FAQs––Clarifying Some Standards and Raising Questions

The US Department of Justice (DOJ) Antitrust Division announced significant guidance updates to its leniency program on April 4, 2022. Under the program, companies that self-report antitrust conspiratorial activity to the…more

Compliance, Department of Justice (DOJ), Pleas

Anna Christensen

DOJ Issues Guidance on Compliance Monitors in Corporate Plea Agreements

The guidance emphasizes flexibility and cost-benefit analysis in the monitor selection process, and along with the recognition by the US Department of Justice that monitors should be appointed only when absolutely necessary, it…more

Aaron Christian

PA Court Holds That Natural Gas Producer Improperly Deducted Fees

Post-production costs deducted from gas royalties, such as interstate transportation charges and marketing costs, must be incurred while a producer still holds title to the gas…more

Class Action, Interstate Commerce, Land Owners, Natural Gas, Pipelines

Broker-Dealer, Financial Institutions, Risk Management, Securities and Exchange Commission (SEC), Securities Exchange Act

Penelope Christophorou

SEC Adopts New Treasury Clearing Rules

On December 13, 2023, the US Securities and Exchange Commission (SEC) adopted rule amendments (Treasury Clearing Rules) designed to improve risk management in clearance and settlement and to facilitate additional central…more

Kenneth Chua

When Is a Deposit Refundable? Express Terms Are Important

Singapore’s Court of Appeal recently ruled that a party to a contract is not entitled to a refund of a $300,000 deposit it had paid in anticipation of an agreement that never materialised. Contracting parties are therefore well…more

Appeals, Contract Terms, Refunds, Singapore

Cybersecurity, Cybersecurity Maturity Model Certification (CMMC), Department of Defense (DOD), DFARS, Federal Contractors

Ezra Church

DOD Progresses Toward CMMC 2.0 Implementation with New Proposed Rule

The US Department of Defense (DoD) has issued a new proposed rule for implementing the next iteration of the Cybersecurity Maturity Model Certification (CMMC) 2.0 program. This action drives forward the DoD’s plans to bolster US…more

Bureau of Industry and Security (BIS), Commerce Control List, ECCNs, Export Administration Regulations (EAR), Export Controls

Giovanna Cinelli

US Expands Controls on Quantum, Semiconductor Tech to Secure Industry Leadership

The US Department of Commerce’s Bureau of Industry and Security (BIS) published an Interim Final Rule (IFR) on September 6, 2024 to implement worldwide export controls on quantum computing, semiconductor, addictive computing,…more

Comment Period, Digital Assets, Distributed Ledger Technology (DLT), IRS, Non-Fungible Tokens (NFTs)

Anthony Cipriano

IRS Releases Proposed Digital Asset Regulations

The Internal Revenue Service (IRS) recently released proposed regulations regarding broker reporting for digital assets, including expansions of and additions to certain definitions, rules, and requirements. The IRS seeks…more

Acquisitions, Employee Benefits, Employer Liability Issues, Mergers, Retirement Plan

Carley Clark

Not Done Yet—Employee Benefits Plan Transition and Integration Decisions Continue After M&A Transactions Close

Patrick Rehfield focuses on matters related to executive compensation, payroll tax, and employee fringe benefits. He advises private and public companies on designing and implementing nonqualified retirement plans, equity…more

Atomic Energy Act, Chevron Deference, Loper Bright Enterprises v Raimondo, Nuclear Power, Nuclear Regulatory Commission

Scott Clausen

Chevron Overturned: Ruling May Impact Challenges to NRC Actions to a Lesser Extent Than Other Agencies

The US Supreme Court’s recent Loper Bright decision overturned its 1984 Chevron decision, which, over the last 40 years, had become a fundamental doctrine in administrative law. That doctrine, known as the “Chevron deference,”…more

John Cleaver

Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative…more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

Economic Sanctions, Executive Orders, Export Controls, Financial Services Industry, Russia

Abaigael Clifford

UK Bolsters Sanctions Powers Against Russia

The United Kingdom on 10 February 2022 amended its Russian sanctions law to more easily add persons to its targeted sanctions regime, which enhances the UK’s ability to quickly impose sanctions against most parts of the Russian…more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

Michele Coffey

2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Advisory Opinions, Cloud Computing, Popular, Sales & Use Tax

William Colgin, Jr.

New York Issues Tax Advisory Opinion Regarding Cloud Computing Product

The new guidance addresses the New York sales and use tax treatment of cloud computing services. Background - On April 14, the New York State Department of Taxation and Finance (the Department) issued Advisory…more

10b5-1 Plans, Disclosure Requirements, Insider Trading, Securities Act of 1933, Securities and Exchange Commission (SEC)

Meredith Compton

Current Developments in SEC Enforcement for Public Companies 2024

The US Securities and Exchange Commission (SEC) continued its significant focus on public companies in 2023 with its enforcement and rulemaking programs, and this heightened level of attention will continue throughout 2024…more

Electronic Travel Authorization Program (eTA), Foreign Nationals, Immigration Procedures, Popular, UK

Jennifer Connolly

Expansion of UK ETA Scheme Announced

The UK Home Office published the dates that the United Kingdom’s Electronic Travel Authorisation (ETA) scheme will be rolled out to all applicable countries…more

China, Coronavirus/COVID-19, Crisis Management, Emergency Management Plans, Infectious Diseases

Sarah Connolly

Implications of COVID-19 for Institutional Investors

The spread of the coronavirus (COVID-19) continues to impact global financial markets and private funds. Institutional investors, funds-of-funds, family offices, and other investors in private funds should consider the economic…more

Mark Conrad

Private Funds 2023: The Year in Brief

2023 was a watershed year for the private fund industry, not only because the US Securities and Exchange Commission (SEC) adopted a package of new regulations that will substantially alter the private fund landscape (subject to…more

Broker-Dealer, Form PF, Investment Adviser, Investors, Private Funds

Amended Rules, Investment Companies, Investment Company Act of 1940, Securities and Exchange Commission (SEC)

Daniel Conroy

Names Rule Amendments Will Require Changes For Certain Funds

On September 20, 2023, in a 4-1 vote, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to the rule governing fund names, which impose new disclosure, compliance, reporting, and recordkeeping…more

Business and Property Courts, Case Management, Disclosure Pilot Scheme, Discovery, Document Productions

Edward (Ted) Cook

Latest Changes to Disclosure Pilot Scheme in the Business and Property Courts of England and Wales

Over the last 18 months, the Business and Property Courts of England and Wales have been running the Disclosure Pilot Scheme. Since its inception, this scheme has undergone a series of tweaks and amendments and the latest…more

Kelly Cooke

Still Hot: Why Global Sports Keep Attracting Record-Breaking Investments

Private equity firms, financial sponsors, and sovereign wealth funds continue to invest in global sports organizations. Financial sponsor–led investments were more prevalent at the beginning of the century in Europe and…more

Institutional Investors, Investors, MLB, NBA, NFL

Case Management, Comment Period, Discovery, Federal Rules of Civil Procedure, Multidistrict Litigation

J. Gordon Cooney, Jr.

Commenters Weigh in on Proposed Federal MDL Rule to Help Shape Future of Mass Litigation

The Federal Advisory Committee on Civil Rules has opened public comment on proposed Rule 16.1, which addresses case management in multidistrict litigation (MDL) proceedings. The proposed rule attempts to provide guidance for…more

Daniel Cooper

IRS Announces Increased Gift and Estate Tax Exemption Amounts for 2024

The US Internal Revenue Service has announced that the annual gift tax exclusion is increasing in 2024 due to inflation. The exclusion will be $18,000 per recipient for 2024—the highest exclusion amount ever…more

Estate Planning, Estate Tax, Estate-Tax Exemption, Gift Tax, Gift-Tax Exemption

Amended Rules, Investment Companies, Investment Company Act of 1940, Securities and Exchange Commission (SEC)

Lea Anne Copenhefer

Names Rule Amendments Will Require Changes For Certain Funds

On September 20, 2023, in a 4-1 vote, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to the rule governing fund names, which impose new disclosure, compliance, reporting, and recordkeeping…more

Timothy Corbett

Update: EU Introduces Its 8th Wide-Ranging Sanctions Package Against Russia

The European Union adopted its 8th sanctions package of restrictive measures against Russia on 6 October 2022 in response to the ongoing conflict in Ukraine…more

Asset Freeze, Cryptoassets, Economic Sanctions, EU, Export Bans

Employee Rights, Employer Liability Issues, Local Ordinance, Posting Requirements

Carolyn M. Corcoran

NYC Creates Workplace Bill of Rights Poster to Be Distributed by July 1

New York City employers must post and distribute to employees in New York City a new “Know Your Rights at Work” notice created by the New York City Department of Consumer and Worker Protection (DCWP) by July 1. The notice is…more

Coronavirus/COVID-19, Insurance Claims, Insurance Regulations, Legislative Agendas, Policy Terms

Benjamin Cordiano

State Insurance Regulators and Legislators Respond to COVID-19 Pandemic

Insurance regulators across the country have enacted emergency regulations, issued administrative guidance, and requested carriers to take certain actions to try to address the financial impact of the coronavirus (COVID-19)…more

Aviation Industry, Carbon Offset and Reduction Scheme for International Aviation (CORSIA), Climate Change, Fuel Standards, Greenhouse Gas Emissions

Franco Corrado

Countdown to (Net) Zero: Aviation Industry Aims for Total Carbon Removal by 2050

The International Air Transport Association (IATA) and its more than 300 airline members have committed to achieving net-zero carbon emissions by 2050, a goal largely driven by the industry’s use and investment in sustainable…more

Colleges, Department of Education, Educational Institutions, Students, Universities

Diana Cortes

Recent Congressional Action on Antisemitism Expands from Educational Institutions to Nonprofit and Financial Entities

US Congress continues to expand legislative action to address antisemitism. What began in the House of Representatives Committee on Education and the Workforce has expanded to a House-wide effort to combat antisemitism and…more

Banking Sector, EU, European Banking Authority (EBA), Non-Performing Loans (NPL), Securitization

Gulmin Cosar

Non-performing and Re-performing Loan Securitisation in Europe: What Does the Future Hold?

An elevated level of non-performing loans (NPLs) on European banks’ balance sheets drove a slate of legislation and regulation in recent years, including directives aimed at developing and enhancing a secondary market for NPLs…more

Centers for Medicare & Medicaid Services (CMS), Fee-for-Service, Health Care Providers, Medicare, Recovery Audit Contractors (RACs)

John Cosgriff

CMS Administrator Touts Changes to RAC Program

In CMS’s continuing effort to take “a strategic approach to protecting taxpayer dollars and reducing regulation to put patients over paperwork,” Administrator Seema Verma recently highlighted changes to the Recovery Audit…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Final Rules, Internal Revenue Code (IRC)

Peter Coulson

Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 4—Timing of Taxation under Code Sections 83, 3121(v), and 457(f)

This is the fourth part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC) banning the enforcement of almost all noncompete…more

Intellectual Property Protection, Patent Infringement, Patents, Pharmaceutical Industry, Pharmaceutical Patents

Emily Coury

How to Develop Partner-Ready Patent Estates

For our third and final Biotech Week Boston post, partner Stephen Altieri—one of the many within our 250-member-strong comprehensive cross-practice life sciences team with an advanced scientific degree—discusses efficient patent…more

Coronavirus/COVID-19, Employee Benefits, Governor Newsom, Paid Leave, Paid Time Off (PTO)

Kayla K. Cox

Assembly Bill 152 Extends California’s COVID-19 Supplemental Paid Sick Leave

California Governor Gavin Newsom signed Assembly Bill 152 into law on September 29, extending California’s 2022 COVID-19 Supplemental Paid Sick Leave law to December 31, 2022. The bill also creates a program that will reimburse…more

Biologics, Biosimilars, BPCIA, Food and Drug Administration (FDA), Patent Infringement

Jennifer Patritti Cram, Ph.D

Blockbuster Biologics - Review Issue 24

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to…more

Financial Conduct Authority (FCA), HM Treasury, Prudential Regulation Authority (PRA), Securitization, UK

Merryn Craske

New UK Securitisation Rules Published

The UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) recently published their final rules relating to securitisation. Together with certain provisions under the Securitisation Regulations 2024 (as…more

Background Checks, Criminal Background Checks, Criminal Records, Employer Liability Issues, Fair Chance Act

Kara Crawford

LA County Passes Fair Chance Ordinance on Employer Consideration of Criminal History

The County of Los Angeles has announced a new Fair Chance Ordinance, taking effect on September 3, 2024, that will regulate the consideration of criminal history information by employers with five or more employees in…more

Arbitration, Electricity, Energy Sector, Foreign Investment, International Arbitration

Juan-pablo Crespo

Amendments to Mexico’s Power Industry Law Remain Suspended Despite Court Decisions

As of July 15, 2021, both Federal Collegiate Courts in Administrative Matters Specialized in Economic Competition (Tribunal Colegiado en Materia Administrativa Especializado en Competencia Económica, Radiodifusión y…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

Douglas Crisman

Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Department of Education, Deregulation, Disciplinary Proceedings, Educational Institutions, Gender-Based Violence

Bradley Crowell

Allegations Of Sexual Misconduct On Campus: Complying With The Us Department Of Education’s Final Regulations On Title IX

The US Department of Education (DOE) on May 6, 2020 issued legally binding amended regulations governing how institutions that receive federal funding under Title IX of the Education Amendments of 1972 (Title IX) must respond to…more

Excise Tax, Internal Revenue Code (IRC), IRS, Proposed Regulation, U.S. Treasury

Colleen Culbertson

IRS Proposes Regulations for Excise Taxes on Taxable Distributions from Donor-Advised Funds

The US Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) recently issued proposed regulations under Internal Revenue Code Section 4966 (the Proposed Regulations) that provide important clarifications…more

Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Helix Energy Solutions Group Inc v Hewitt No 21-984, Highly Compensated Employees

Thomas Cullen Wallace

US Supreme Court: Highly Compensated Employees Entitled to Overtime Unless FLSA Exemption Requirements Satisfied

In Helix Energy Solutions Group Inc. v. Hewitt, the US Supreme Court held (on the facts of that case) that an employer had improperly classified a supervisory employee earning more than $200,000 per year as an exempt “executive”…more

Banking Sector, Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), Financial Institutions, Financial Services Industry

Michael Cumming

Abusive Acts and Practices: Putting the CFPB’s Policy Statement into Practice

The Consumer Financial Protection Bureau (CFPB) released a second iteration of its Policy Statement on Abusive Acts and Practices (Policy Statement) on April 3, 2023, giving insight into its current thinking on the abusiveness…more

Drew Cummings

IRS’s Implicit Parental Support Guidance ‘Formalizes’ Past Litigation Position

The Internal Revenue Service (IRS) recently issued a nonbinding Generic Legal Advice Memorandum (GLAM) that provides advice on Internal Revenue Code Section 482 and so-called implicit parental support. Consistent with prior IRS…more

Corporate Taxes, IRS, Parent Corporation, Section 482, Tax Planning

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

Justin Cupples

Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Maggie E. Curran

The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

Artificial Intelligence, EU, European Securities and Markets Authority (ESMA), Financial Services Industry, MiFID II

Simon Currie

ESMA Issues Guidance on AI in Retail Financial Services as EU AI Act Takes Effect

The European Securities and Markets Authority (ESMA) recently published its first formal guidance on the use of artificial intelligence (AI) in the provision of retail investment services. The guidance outlines AI’s potential…more

Jocelyn Cuttino

New Opportunities for Investors in the Growing Women's Sports Sector

Investment in women’s sports has undergone a significant transformation in recent years, with the once underinvested market now commanding attention from sports fans and investors globally. The shift not only reflects the…more

George Cyriac

Competition Commission of India Provides Updated Deal Value Threshold

Revising the merger control regime in India, the Ministry of Corporate Affairs on September 10 implemented certain provisions of the Competition Act, 2002 and Competition (Amendment) Act, 2023, and the Competition Commission of…more

Competition, Competition Authorities, India, Mergers

Employer Liability Issues, Employment Policies, Hiring & Firing, Job Applicants, State Labor Laws

Michael D'Agostino

Connecticut Law to Require Provision of Wage Ranges to Applicants and Employees

Beginning October 1, 2021, employers in Connecticut will be required to provide both job applicants and employees with the wage range of the position for which the applicant is applying or that the employee holds…more

Thomas D'Ambrosio

The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

Renée Dailey

Reform Comes to Australian Restructuring and Insolvency Law

Two key changes made to Australian insolvency law enhance restructuring efforts in Australia and could improve outcomes for US investors…more

Australia, Bankruptcy Code, Chapter 11, Debtors, Insolvency

China, Health Care Providers, Medical Research, Research Funding

Beverly Dale

US Government Cracks Down on Alleged Misuse of US Funded Research by Chinese Scholars, Students

US government–funded academic medical centers and other research institutions are caught between traditional values of academic freedom, collaboration, and nondiscrimination and their obligations to comply with US law and…more

Contributory Infringement, Corporate Counsel, Counterfeiting, Intellectual Property Protection, Lanham Act

Joshua Dalton

Jury Finds for Online Marketplace over Atari in Trademark Infringement Case

In the case, Atari had alleged that Redbubble failed to adequately police its marketplace to remove artist uploads that counterfeited or infringed upon Atari’s trademarks in its logo and other iconic images. As part of its…more

Food and Drug Administration (FDA), Life Sciences, Pharmaceutical Industry, Prescription Drugs

Rebecca Dandeker

Citizen Petitions, Class Actions Call for FDA Action on Drug Products Containing Benzene

Spurred by a March 5, 2024 citizen petition to the Food and Drug Administration (FDA), a flurry of class action complaints have been filed claiming that drug makers failed to warn consumers about the presence of benzene in…more

Intellectual Property Protection, Patent Litigation, Patent Trial and Appeal Board, Patents, USPTO

Sujohn Das

Early Results of USPTO’s New Climate Change Mitigation Pilot Program

The United States Patent and Trademark Office launched the Climate Change Mitigation Pilot Program last year to incentivize the filing of patent applications that cover technologies directed to climate change mitigation. With…more

Counter Sanctions, Economic Sanctions, Financial Institutions, Foreign Policy, Russia

Roman Dashko

Russia to Permit Certain Transactions with Securities of Non-Russian Issuers

Decree 844, issued by the Russian president on November 8, 2023, marked the latest piece of legislation making up the so-named Russian countersanctions law. We have previously covered the rules set by Decree 844 for funds held…more

Employer Liability Issues, EU, France, Hiring & Firing, International Labor Laws

Charles Dauthier

French Government Welcomes Draft Collective Agreement on Value Sharing

At a time when purchasing power is a central and hot topic of debate, French unions and employers have agreed on a draft collective agreement aimed at allowing greater sharing of profit with employees. The draft agreement has…more

Biden Administration, Employer Group Health Plans, Health Insurance, Mental Health, Mental Health Parity Rule

Deborah Davidson

Biden Administration Proposes Increased Enforcement of Mental Health Parity Requirements

The US Departments of the Treasury, Labor, and Health and Human Services (the Departments) recently unveiled a proposed rule intended to increase mental health coverage through expanded plan oversight and enforcement activity…more

American Taxpayer Relief Act, Begun Construction Test, Investment Tax Credits, IRS, Physical Work Test

Douglas Davidson

IRS Releases “Start Construction” Guidance for Renewable Energy Facilities

Long-awaited guidance regarding eligibility for production or investment tax credits largely tracks guidance under the Section 1603 cash grant program…more

Benjamin Davies

COVID-19: Practical Considerations for UK Companies’ Annual General Meetings

In light of the UK government’s lockdown measures and the COVID-19 pandemic, there are key issues English public companies should consider for their annual general meetings (AGMs) while awaiting further legislation and…more

Annual Meeting, BEIS, Coronavirus/COVID-19, Corporate Governance, UK

Emily Davies

Update: EU, UK, and US Sanctions Against Turkey

Recent sanctions imposed by the European Union, United Kingdom, and the United States on Turkey and certain Turkish persons will be of interest to European and American investors in Turkey’s defense and energy sectors. The…more

CAATSA, Defense Sector, Economic Sanctions, EU, Foreign Relations

Janay Davis

President Biden Revokes Ban Suspending Entry of Certain Immigrants, Issuance of Green Cards Overseas

President Joe Biden has rescinded Presidential Proclamation 10014, the prior administration’s ban that suspended the issuance of certain green cards overseas and barred entry into the United States of certain groups of…more

Biden Administration, Corporate Counsel, EB-1, EB-2, EB-3

Centers for Medicare & Medicaid Services (CMS), Investment, Investors, Private Equity, Private Equity Firms

Janice Davis

The Focus on Healthcare PE Investment Is Here to Stay—For Now

While private equity (PE) investments in healthcare have long been subject to scrutiny, as PE investment in healthcare has grown sizably over the last decade, so too has the concern from federal and state regulatory bodies…more

Design Patent, Intellectual Property Protection, Obviousness, Patent Litigation, Patents

Kenneth Davis

Federal Circuit Overhauls Test for Assessing Design Patent Obviousness

In a landmark decision, the US Court of Appeals for the Federal Circuit has overruled the longstanding test for assessing whether a design patent is considered obvious in view of prior art. This decision represents a pivotal…more

Patent Infringement, Patent Litigation, Patents, SCOTUS, TC Heartland LLC v Kraft Foods

Thomas Davis

US Supreme Court Clarifies Where Corporations Can Be Sued for Patent Infringement

The United States Supreme Court clarified that 28 U.S.C. § 1400 is the exclusive venue statute for patent infringement cases, so the definition of “residence” for domestic corporations is limited to where they are incorporated…more

Acquisitions, Breach of Duty, Corporate Governance, Financial Industry Regulatory Authority (FINRA), Initial Public Offering (IPO)

R. Alec Dawson

The Future of SPACs: Increasing Litigation and Regulation

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms” complete mergers with or acquisitions of private…more

Employee Benefits, Employee Retirement Income Security Act (ERISA), Multiemployer Plan, Pensions, Retirement Plan

Althea Day

Withdrawal Liability Notice and Demand in Multiemployer Plans: Interpreting ‘As Soon as Practicable’ for Funds and Employers

A recent ruling by the US Court of Appeals for the Third Circuit serves provides a valuable reminder for multiemployer pension funds and contributing employers regarding ERISA’s withdrawal liability notice and demand…more

Critical Infrastructure Sectors, E-Scooters, Educational Institutions, Green Transportation, Innovative Technology

Theodore Dayno

State and Local Survey of Laws Regulating Escooter Sharing Services

The growth and use of electric scooters (escooters) for personal transportation has exploded over the last several years. Much of this growth has been driven by escooter sharing companies, which, rather than pursuing a model of…more

Compliance, Department of Justice (DOJ), Foreign Corrupt Practices Act (FCPA), Penalties

Michael De Giovanni

DOJ Announces New ‘No Piling-On’ Policy, but Maintains Compliance Expectations

The US Department of Justice announced on May 9 a new policy to avoid the imposition of duplicative penalties by multiple authorities in corporate fraud investigations. But, the DOJ’s expectations with respect to compliance…more

Arbitration, Best Practices, Biometric Information, Biometric Information Privacy Act, Class Action

Kathryn Deal

Key Takeaways: Developments and Trends in Privacy Law: a Look at BIPA and Wiretapping Litigation

The latest developments under the Biometric Information Privacy Act (BIPA) and a recent wave of wiretapping class actions and arbitrations against website operators and third-party analytics companies are analyzed in a recent…more

Biden Administration, Energy Projects, Energy Sector, Offshore Wind, Renewable Energy

Raphaëlle Debenedetti

White House Partnership Aims to Speed Up Construction of Offshore Wind Farms

Another boost to the growing US offshore wind industry came on June 23, 2022, when the Biden-Harris administration and several cabinet secretaries announced new initiatives, including a partnership with 11 eastern states…more

Expert Testimony, Expert Witness, Manufacturing Defects

John Deck

Texas High Court Limits Interdependent Expert Opinions

Experts may not rely on the unreliable opinions of other experts. In a recent opinion in Gharda USA, Inc. v. Control Solutions, Inc., No. 12-0987, --S.W.3d--, 2015 WL 2148058, at *9 (Tex. May 8, 2015), the Supreme Court of…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

Laurie Dee

1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Business Development Companies, Derivatives, ETFs, Financial Regulatory Reform, Investment Funds

Shannon Delaney

New SEC Rule Will Regulate Registered Fund Investments in Derivatives

On October 28, 2020, the US Securities and Exchange Commission (SEC) voted 3–2 to adopt Rule 18f-4 (the Rule) under the Investment Company Act of 1940 (the Investment Company Act), which will replace decades-old SEC and staff…more

Healthy Workplaces Healthy Families Act 2014, Paid Leave, Paid Sick Leave Act, Sick Leave, Wage and Hour

William Delany

Maryland Becomes Ninth State to Enact Paid Sick Leave

The Healthy Working Families Act requires certain Maryland employers with 15 or more employees to provide paid sick leave. Maryland became the ninth state, along with the District of Columbia, to enact paid sick leave after…more

Employer Liability Issues, Equal Pay, Posting Requirements, State Labor Laws, Transparency

Christopher Dempsey

Illinois Enacts New Job Posting Transparency Law

Following the lead of numerous other states and localities requiring pay transparency in job postings, the State of Illinois further amended the Illinois Equal Pay Act of 2003 (IEPA) to accomplish this goal. Effective January 1,…more

Financial Institutions, Financial Services Industry, Insolvency, UK

Paul Denham

English High Court Takes ‘More Nuanced Approach’ to Difference Between Fixed and Floating Charges

The English High Court provided guidance on 25 April 2023 in Re Avanti Communications Limited to determine whether a charge is a fixed charge or a floating charge. The distinction between a fixed charge and a floating charge is…more

Banking Sector, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Depository Institutions, Financial Institutions

Allen Denson

CFPB Finalizes New Rule to Monitor Nonbank ‘Repeat Offenders’

The Consumer Financial Protection Bureau (CFPB) recently finalized its proposed rule to create a so-called “Repeat Offender” registry for certain covered financial services providers and individuals violating federal, state, and…more

Anastasia Dergacheva

Social Media Influencer Agreements, Part 2: Considerations When Drafting for an Influencer

In Part 1, we discussed how companies rely on social media influencers to promote their products and services online, and certain items to consider when drafting an influencer agreement. In this Part 2 blog post, we’ll focus on…more

Advertising, Endorsements, Influencers, Marketing, Social Media

Kevin Dermody

2019 ISG Momentum Market Trends & Insights Geography Report

The 2019 ISG Momentum Market Trends & Insights Geography Report was recently released and contains valuable insights on how the outsourcing industry is growing and transforming around the world. The report, which was published…more

Contract Terms, Outsourcing, Technology

Antitrust Violations, Department of Justice (DOJ), DOJ Strike Force, Public Procurement Policies

Francis DeSimone

DOJ Launches Procurement Collusion Strike Force on Antitrust Crimes

The US Department of Justice (DOJ) on November 5 announced the formation of the Procurement Collusion Strike Force (PCSF). This interagency initiative will “lead a coordinated national response to combat antitrust crimes and…more

Best Practices, College Admissions, Diversity, Diversity and Inclusion Standards (D&I), Educational Institutions

Emily Cuneo DeSmedt

DEI and Best Practices in Corporate America: Harvard/UNC One Year Later

All eyes were on the US Supreme Court in June 2023 as the justices were poised to issue their decision in Students for Fair Admissions v. Harvard & UNC. As colleges and universities awaited the decision and wondered what it…more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

Andrew Devkar

PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Federal Trade Commission (FTC), Filing Fees, Hart-Scott-Rodino Act, Size of Transaction Test, Threshold Requirements

M. Luisa Di Lauro

FTC HSR Act Threshold and Filing Fee Increases Become Effective March 6

The previously announced Hart-Scott-Rodino Act (HSR Act) jurisdictional filing thresholds and fees will go into effect on March 6, 2024. The Federal Trade Commission’s (FTC’s) previously announced increases to HSR Act…more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

Tinos Diamantatos

DOJ Criminal Division Launches Corporate Whistleblower Awards Pilot Program

The US Department of Justice’s (DOJ) Criminal Division on August 1 announced the details of its much-anticipated Corporate Whistleblower Awards Pilot Program. This three-year initiative aims to incentivize individuals to report…more

Environmental Protection Agency (EPA), Groundwater, Insurance Industry, Water

Teri Diaz

Electric Utilities Affected by Recent EPA Regulation May Benefit from Legacy Liability Insurance Policies

The US Environmental Protection Agency (EPA) on May 8, 2024 expanded the obligations of coal-fired power plants to remediate coal ash-related groundwater impacts with amendments to the federal Coal Combustion Residual (CCR)…more

Robert Dickey

Navigating PPP Loans In M&A Transactions (UPDATED)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government…more

CARES Act, Coronavirus/COVID-19, Eligibility, Federal Loans, Financial Stimulus

Jennifer Dienes

What’s in a Name? FDA Proposes Updates to Its Biosimilar Naming Policy

The US Food and Drug Administration (FDA) issued an updated draft guidance on March 7 on the nonproprietary naming of biologics, titled Nonproprietary Naming of Biological Products: Update (Guidance). This update is FDA’s second…more

Clemens Dienstbier

Lack of Regulation on Book Value Transfer Between Partnerships with Identical Shareholdings Unconstitutional

In its decision dated 28 November 2023 (2 BvL 8/13), the German Federal Constitutional Court (BVerfG) ruled that Sec. 6 Para. 5 Sent. 3 German Income Tax Act (Einkommensteuergesetz, EStG) violates the principle of equality…more

Germany, Income Taxes, Shareholders, Transfer of Assets

Design Patent, Intellectual Property Protection, Obviousness, Patent Litigation, Patents

Andy Dietrick

Federal Circuit Overhauls Test for Assessing Design Patent Obviousness

In a landmark decision, the US Court of Appeals for the Federal Circuit has overruled the longstanding test for assessing whether a design patent is considered obvious in view of prior art. This decision represents a pivotal…more

Sheri Dillon

High-stakes Game: IRS ‘goes on the Offense’ Against Sports Industry Partnership Losses

Sports industry partnerships are now on notice that the Internal Revenue Service (IRS) is initiating specialized, issue-based BBA partnership examinations focusing on their income and deductions…more

Income Taxes, IRS, Tax Deductions, Tax Planning, Tax Returns

Beneficial Owner, Corporate Transparency Act, Financial Crimes, FinCEN, Reporting Requirements

Jeffrey Dinerstein

US District Court Declares Corporate Transparency Act Is Unconstitutional

The US District Court for the Northern District of Alabama issued a landmark decision on March 1, 2024 in which it held that the Corporate Transparency Act (CTA) is unconstitutional. In the opinion, Judge Liles Burke held that…more

Benefit Plan Sponsors, Employee Benefits, Internal Revenue Code (IRC), IRS, Required Minimum Distributions

Hengyang Ding

IRS Extends Post-Death RMD Relief Under the 10-Year Rule for 2024 Distributions

The Internal Revenue Service (IRS) recently extended relief with respect to certain post-death required minimum distributions (RMDs) under Internal Revenue Code Section 401(a)(9)…more

American Rescue Plan Act of 2021, Biden Administration, Coronavirus/COVID-19, DACA, Education Reform

Christopher Dlutowski

Back in the Classroom, but Not Back to ‘Normal’

The education industry, like many others, saw a fundamental shift in 2020 as remote learning challenged some of the long-held traditions of institutions, educators, and related companies. From federal support of reopening…more

Coronavirus/COVID-19, Government Lockdown, Infectious Diseases, Re-Opening Guidelines, Remote Working

Dmitry Dmitriev

COVID-19: Moscow Steps Up Workplace Restrictions, Introduces Reporting Requirements as Infection Rises

In response to the coronavirus (COVID-19) pandemic, President Vladimir Putin authorized the heads of Russian regions to determine the lockdown rules depending on the epidemiological situation in a particular territory. In this…more

Khoa D. Do

A Look at the M&A Trends Impacting the Technology Industry

M&A dealmakers have been on a wild ride: from the pandemic-fueled rout in 2020 to 2021’s record-breaking recovery to a steep decline in 2023, the global M&A market has offered a masterclass in volatility. While global M&A…more

Acquisitions, Antitrust Provisions, Artificial Intelligence, CFIUS, Mergers

Coronavirus/COVID-19, Fraud, Medical Supplies, Personal Protective Equipment, Risk Mitigation

John Dodds

DOJ and OIG Warn Against Fraud Schemes Related to COVID-19 Pandemic

In managing the quickly evolving healthcare landscape during this current crisis, healthcare companies should be wary of fraudsters who attempt to divert critical resources…more

Cryptoassets, Cryptocurrency, Digital Assets, Financial Conduct Authority (FCA), Financial Services Industry

James Doench

Going Digital in the UK, US, and UAE: The Latest Digital Asset Developments

The global digital landscape continues to rapidly transform and bring forth innovative financial instruments and technologies, including within the shifting regulatory frameworks that have shaped the digital asset ecosystem in…more

Copyright Ownership, Intellectual Property Protection, Non-Disclosure Agreement, Patent Ownership, Trademark Ownership

Cindy Dole

Contract Corner: Best Practices for Securing IP Ownership

Part 1 of this three-part series discusses intellectual property ownership rights in the absence of another agreement. Part 2 addresses some of the common ways that parties can allocate the ownership of intellectual property in…more

Rod Donnelly

IRS Provides Guidance on Tax Reform’s New § 965 Deemed Repatriation Provision

It answers some questions but leaves many issues unresolved. On December 29, the US Internal Revenue Service (IRS) issued Notice 2018-07—Guidance under Section 965 (the Notice)—indicating its intent to issue regulations for…more

Consolidated Tax Returns, Foreign Currency, IRS, Repatriation, Subpart F

Electronic Travel Authorization Program (eTA), Foreign Nationals, Immigration Procedures, Popular, UK

Shannon Donnelly

Expansion of UK ETA Scheme Announced

The UK Home Office published the dates that the United Kingdom’s Electronic Travel Authorisation (ETA) scheme will be rolled out to all applicable countries…more

Joshua Dorchak

Second Circuit Reverses Marblegate Holding on TIA § 316(b)

Court holds that TIA § 316(b) prohibits only non-consensual amendments to an indenture’s core payment terms. The US Court of Appeals for the Second Circuit limited the ability of minority bondholders to challenge…more

Bonds, Creditors, Foreclosure Sales, Trust Indenture Act

Cryptoassets, Cryptocurrency, Digital Assets, Financial Conduct Authority (FCA), Financial Services Industry

Andrea Dougall

Going Digital in the UK, US, and UAE: The Latest Digital Asset Developments

The global digital landscape continues to rapidly transform and bring forth innovative financial instruments and technologies, including within the shifting regulatory frameworks that have shaped the digital asset ecosystem in…more

Defined Benefit Plans, Distribution Rules, Employee Benefits, Internal Revenue Code (IRC), IRS

Brian Dougherty

PBGC Modernizes De Minimis Distribution Rates

The Pension Benefit Guaranty Corporation (PBGC) published a final rule (Final Rule) on September 9 providing that effective January 1, 2021, it will use the interest and mortality assumptions under Internal Revenue Code (Code)…more

Biologics, Biosimilars, BPCIA, Food and Drug Administration (FDA), Patent Infringement

Maria Doukas

Blockbuster Biologics - Review Issue 24

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to…more

DIFC, Dubai, Investment Management, Private Investment Funds, United Arab Emirates (UAE)

Philip Dowsett

DIFC Funds Regime Introduces Changes to Improve Flexibility, Clarity

In line with its position as the leading financial hub for the Middle East and North Africa region, the Dubai International Financial Centre (DIFC) has improved the flexibility of its funds regime, which should make it more…more

Biden Administration, Environmental Justice, Environmental Policies, Environmental Protection Agency (EPA), Executive Orders

James Dragna

EPA Announces Creation of Office of Environmental Justice and External Civil Rights

US Environmental Protection Agency Administrator Michael Regan announced on September 24 that the agency is establishing a new national office focused on advancing environmental justice and civil rights…more

Acquisitions, Capital Gains, Income Taxes

Emma Dragomirova

Federal Fiscal Court Confirms Previous Case Law on the Taxation of Management Participations

In its rulings dated December 14, 2023 (VI R 1/21 and VI R 2/21 NV), the Federal Fiscal Court (BFH) confirmed its previous case law on the taxation of management participations and further specified the criteria for…more

Artificial Intelligence, Authorship, Copyright, Copyright Applications, Copyright Office

Ron Dreben

Dueling Briefs Filed Over Human Authorship Requirement for US Copyright Registration

The threshold issue of human authorship as a prerequisite for obtaining copyright registration at the US Copyright Office is currently being litigated in federal court in the District of Columbia. In August 2023, the US District…more

Rachelle Dubow

The Trends—and Traps—that Will Shape 2023

The last few years have thrown many surprises at businesses. Organizations across all sectors have faced inflation, global conflicts, supply chain challenges, a pandemic, and continually changing government policies. In 2023,…more

Automotive Industry, Capital Markets, Cryptocurrency, Energy Sector, EU

CARES Act, Coronavirus/COVID-19, Deadlines, Filing Deadlines, Intellectual Property Protection

Amy Dudash

USPTO and Copyright Office Grant Deadline Relief, Further Guidance Awaited

The Director of the US Patent and Trademark Office and the Acting Register of the US Copyright Office have now taken action pursuant to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide relief from…more

Morgan Oksana Dudkewitz

Open Banking – Update for 2020

In December 2019, we published a blog post introducing open banking; here, we provide an update for 2020. To briefly summarize, open banking comprises a set of rules which permit third-party providers (TPPs) of financial…more

Cyber Crimes, Cybersecurity, Data Collection, Data Management, EU

Broker-Dealer, Enforcement, Enforcement Actions, Municipal Securities Issuers, Securities and Exchange Commission (SEC)

Jane Dudzinski

Select Broker-Dealer Enforcement Cases and Developments: 2014 Year in Review

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.* The SEC…more

Collective Bargaining Agreements (CBA), Confidential Information, Employer Liability Issues, Employment Contract, Hiring & Firing

Patrick Duffey

New Law Expands Prohibitions on Restrictive Covenant Agreements With Illinois Employees

Illinois Governor J.B. Pritzker signed new legislation on August 13 amending the Illinois Freedom to Work Act (the Act). The amended Act codifies certain existing common law principles and imposes new requirements that will…more

Joseph Duffy

FTC Settles Consumer Review Charges against Fashion Nova and Signals More Action to Come - Retail Did You Know?

The US Federal Trade Commission (FTC) has settled charges brought against Fashion Nova, LLC (Fashion Nova) under Section 5(a) of the FTC Act for failure to publish negative product reviews on its website. This edition of Morgan…more

Federal Trade Commission (FTC), FTC Act, Marketing, Online Reviews, Section 5

Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Penalties, Securities and Exchange Commission (SEC)

Mary Dunbar

2017 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

Executive Summary - The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases…more

CERCLA, Clean Air Act, Contamination, Environmental Protection Agency (EPA), RCRA

Emily Dupraz

New EPA Guidance Cuts Prior Residential Soil Lead Levels in Half

The US Environmental Protection Agency (EPA) recently lowered the recommended regional screening level (RSL) and regional removal management level (RML) for lead-contaminated soil in areas where children live and play from 400…more

Ballot Measures, Business Taxes, Compensation & Benefits, Executive Compensation, New Legislation

Leslie DuPuy

San Francisco to Impose Tax on Companies with Disproportionate Executive Pay

San Francisco voters on November 3 approved Proposition L, which imposes an additional tax on businesses whose highest paid executive makes 100 times or more than the median salary of the business’s employees based in San…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Final Rules, Internal Revenue Code (IRC)

Timothy Durbin

Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 4—Timing of Taxation under Code Sections 83, 3121(v), and 457(f)

This is the fourth part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC) banning the enforcement of almost all noncompete…more

Artificial Intelligence, Copyright, Coronavirus/COVID-19, Intellectual Property Protection, Patents

Jesse Dyer

The Intersection of Artificial Intelligence, COVID-19, and Copyright

While artificial intelligence promises to be useful in responding to the coronavirus (COVID-19) pandemic, companies should be aware of potential copyright considerations. The sudden and severe impact of COVID-19 has created many…more

Compliance, Corporate Counsel, Criminal Investigations, Department of Justice (DOJ)

Lisa Dykstra

DOJ: Corporate Compliance Programs Must Be Truly Effective

In its updated guidance issued on Tuesday, the US Department of Justice Criminal Division places effectiveness at the epicenter of its factors to be utilized when evaluating a company’s compliance program in the context of a…more

Artificial Intelligence, Department of Labor (DOL), Federal Contractors, Hiring & Firing, OFCCP

David Dziengowski

US Department of Labor Publishes Guidelines Addressing Use of AI in Employment Decisions

The US Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) recently issued guidance for the use of artificial intelligence (AI) by federal contractors in employment decisions…more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

Patty Eakes

DOJ Criminal Division Launches Corporate Whistleblower Awards Pilot Program

The US Department of Justice’s (DOJ) Criminal Division on August 1 announced the details of its much-anticipated Corporate Whistleblower Awards Pilot Program. This three-year initiative aims to incentivize individuals to report…more

Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Hospitals, Inpatient Prospective Payment System (IPPS), Medicare

Roshni Edalur

CMS Defers Low Wage Index Hospital Policy Changes in FY 2025 IPPS Final Rule Despite DC Circuit Holding

The Centers for Medicare and Medicaid Services (CMS) has deferred taking immediate action on its low wage index hospital policy in light of the US Court of Appeals for the DC Circuit’s decision in Bridgeport Hospital v. Becerra…more

Intellectual Property Protection, Patent Applications, Patent Trial and Appeal Board, Patents, USPTO

Chantal Francis Edde

US Patent Office ARP Affirms the Use of Means-Plus-Function Limitations to Claim Antibodies

In the recent decision Ex parte Chamberlain, Appeal 22-1944 (Xencor), the United States Patent and Trademark Office’s new Appeals Review Panel provided clarity regarding its stance on means-plus-function claims. Its decision…more

Claim Construction, New Amendments, Patents

Bianca Eddy

District of Massachusetts Adds Certainty to Local Patent Rules

Effective June 1, the local rule for patent cases in the US District Court for the District of Massachusetts, Local Rule 16.6, has been amended. The amendments replace the former rule entirely and apply to all cases for which a…more

Sagiv Edelman

Supreme Court Adopts Broad Interpretation of Primary Liability in SEC Antifraud Case

In a decision beneficial to the US Securities and Exchange Commission, the US Supreme Court has affirmed that those persons who disseminate statements containing material misrepresentations or omissions are primarily liable for…more

Appeals, Enforcement Actions, False Statements, Fines, Intent to Defraud

Asbestos, Boeing, Employer Liability Issues, Take-Home Exposure

Brady Edwards

Pennsylvania Does Not Recognize Duty to Warn an Employee’s Spouse

District court predicts that Pennsylvania will not recognize a duty to protect or warn the spouse of an employee in “take home” or “household” asbestos exposure cases. On August 26, Judge Eduardo C. Robreno of the U.S…more

Coronavirus/COVID-19, Employer Liability Issues, Executive Orders, Governor Murphy, Public Health

Carlyle Edwards-Balfour

NJ State Contractors Required to Mandate Vaccination or Weekly Covid-19 Testing – Publications

Under a newly signed executive order in New Jersey, all state contractors and subcontractors entering agreements with the state must include a clause that requires all covered workers to either provide adequate proof to the…more

Coronavirus/COVID-19, Critical Infrastructure Sectors, Emergency Management Plans, Health and Safety, Infectious Diseases

Elisa Egonu

New York Drops COVID-19 Restrictions as State Reaches 70% Vaccination Goal

Governor Andrew Cuomo announced on June 15 that the State of New York reached its goal of 70% of adult New Yorkers receiving at least one dose of a COVID-19 vaccine. As anticipated based on prior announcements, Governor Cuomo…more

Capital Investments, Corporate Sales Transactions, Covered Transactions, Investment, New Legislation

Oleg Egorov

Russia Adopts New Investment Law

President Vladimir Putin signed a package of laws (informally referred to as the Investment Code) on 1 April to encourage further investment in Russia. The primary tool that the new legislation offers to investors is an…more

Disclosure Requirements, Due Diligence, Financial Conduct Authority (FCA), HM Treasury, Securitization

Erdem Elif Eke

HM Treasury Publishes Near-Final Draft of UK Securitisation Regulations 2023

HM Treasury recently published a near-final draft of a statutory instrument that, together with rules to be made by the UK regulators, will replace the UK Securitisation Regulation. This will result in some noteworthy changes to…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

Magda El Guindi-Rosenbaum

1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Restrictive Covenants, State Labor Laws

Damon Elder

Washington State Expands Its Noncompete Law

While the Federal Trade Commission’s new noncompete ban is facing challenges on multiple fronts, Washington State has enacted its own new restriction on noncompetes. Effective June 6, 2024, employers must comply with the new…more

Cross-Border, EU, Foreign Jurisdictions, International Business Courts, International Litigation

Richard Ellison

Brexit and Judicial Cooperation – All Is Not Lost…Yet

The smooth functioning of international civil legal proceedings across European Union (EU) national frontiers has been one of the benefits of EU membership. With the United Kingdom (UK) now departing from the EU, are…more

Lauren Emery

NLRB Blocked from Implementing Expansive Joint Employer Rule

A federal district court recently vacated the National Labor Relations Board’s 2023 joint employer rule (2023 Rule), which would have expanded the standard to hold separate companies joint employers based on indirect or reserved…more

Collective Bargaining, Employer Liability Issues, Joint Employers, NLRB, Unions

Anti-Money Laundering, Beneficial Owner, Court of Justice of the European Union (CJEU), Disclosure Requirements, EU

Karsten Emmermann

No More Public Access to German Transparency Register Due to New European Court of Justice Ruling

The European Court of Justice in a recent judgment nullified a key provision in the 2018 version of the EU Money Laundering Directive requiring that information regarding beneficial owners registered in the European national…more

Arbitration, Arbitration Agreements, Bissonnette v LePage Bakeries Park St LLC, Delivery Drivers, Employer Liability Issues

Lauren Engel

US Supreme Court Clarifies Application of Federal Arbitration Act’s ‘Transportation Worker’ Exemption

In Bissonnette v. LePage Bakeries, a unanimous Supreme Court clarified the scope of the Federal Arbitration Act’s (FAA’s) “transportation worker” exemption by rejecting the industry-based test applied in the Second Circuit. In…more

Department of Justice (DOJ), Fair Labor Standards Act (FLSA), Fair Workweek, Federal Trade Commission (FTC), Lactation Accommodation

Keri Engelman

OSHA, Employment, and Antitrust: New Compliance Strategies for Luxury Retail Industry Companies

Recent labor law, workplace safety regulation, and antitrust enforcement developments are creating an increasingly complex regulatory landscape for luxury retail industry employers. Companies must navigate an array of compliance…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

Brian Ercole

Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

28 U.S.C. § 1782, Commercial Arbitration, Discovery, Foreign Jurisdictions, Foreign Tribunals

Catherine Eschbach

US Supreme Court Restricts Use of US Courts to Aid in Discovery for International Arbitrations

Parties seeking to use the US court system to facilitate discovery in foreign commercial and investor-state arbitrations may no longer have that option…more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

Jeremy Esperon

2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Acquisition Agreements, Energy Storage, Infrastructure, Merger Agreements, Oil & Gas

Michael Espinoza

Navigating Trends and Pitfalls in Power and Utilities M&A Transactions

For businesses in the highly regulated areas of electric, gas, and water, and businesses in the wholesale electric generation space, there are many key considerations to keep in mind when pursuing an M&A transaction…more

Acquired Distinctiveness, Appeals, Booking.com, Domain Name Registration, Domain Names

Brittany Estell

US Supreme Court Allows Trademark Registration for Booking.com

The US Supreme Court has rejected a bright-line rule denying applications to register trademarks comprising a generic term and “.com.” In an 8–1 decision by Justice Ruth Bader Ginsberg in United States Patent and Trademark…more

Environmental Protection Agency (EPA), Hazardous Substances, PFAS, Toxic Chemicals, Toxic Substances Control Act (TSCA)

Jeremy Esterkin

EPA Delays Start of Toxic Substances Control Act Reporting Period for PFAS Data

The US Environmental Protection Agency (EPA) issued a direct final rule on September 5 that will delay the beginning of the per- and polyfluoroalkyl substances (PFAS) reporting period under the Toxic Substances Control Act…more

Employer Liability Issues, Minimum Wage, Puerto Rico, Wage and Hour

Anne Marie Estevez

Puerto Rico Increases Minimum Wage and Extends Deadline to File Payroll Statement

Effective July 1, 2024, Puerto Rico’s minimum wage will increase to $10.50 per hour. Additionally, employers now have until August 15, 2024 to file their annual payroll statement to maintain their insurance coverage through the…more

Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Hospitals, Inpatient Prospective Payment System (IPPS), Medicare

Gregory Etzel

CMS Defers Low Wage Index Hospital Policy Changes in FY 2025 IPPS Final Rule Despite DC Circuit Holding

The Centers for Medicare and Medicaid Services (CMS) has deferred taking immediate action on its low wage index hospital policy in light of the US Court of Appeals for the DC Circuit’s decision in Bridgeport Hospital v. Becerra…more

China, Intellectual Property Protection, International Emergency Economic Powers Act (IEEPA), Judicial Review, National Security

Lucas Evans

New Act Authorizes Sanctions for Trade Secret Theft

Congress recently passed and sent to the president the Protecting American Intellectual Property Act of 2022. The act mandates sanctions on entities and individuals identified by the executive branch as having committed…more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

Erica Zong Evenson

2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Final Rules, Non-Compete Agreements

J. Clayton Everett, Jr.

FAQs on Federal Trade Commission’s Rule Banning Worker Noncompete Clauses

On April 23, the Federal Trade Commission (FTC), by a 3-2 vote, approved a Final Rule banning almost all worker noncompetes. The Final Rule will go into effect 120 days following its publication in the Federal Register. In this…more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

Brad Fagg

Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not…more

Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Helix Energy Solutions Group Inc v Hewitt No 21-984, Highly Compensated Employees

Brian Fahy

US Supreme Court: Highly Compensated Employees Entitled to Overtime Unless FLSA Exemption Requirements Satisfied

In Helix Energy Solutions Group Inc. v. Hewitt, the US Supreme Court held (on the facts of that case) that an employer had improperly classified a supervisory employee earning more than $200,000 per year as an exempt “executive”…more

Disclosure Requirements, Enforcement Actions, Securities and Exchange Commission (SEC), Securities Regulation, Securities Violations

Michael Fakhoury

Securities Enforcement Roundup – August 2024

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from August 2024. In August 2024: The SEC announced its latest round of “off-channel communications”…more

Automotive Industry, Charging Stations, Electric Vehicles, Infrastructure, Manufacturers

Mark Fanelli

Charging Ahead: Top Issues and Opportunities Facing the EV Industry

Electric vehicles (EVs) will make up a significant portion of new light-duty personal vehicles sold over the next decade. Despite recent media coverage depicting EVs as floundering novelties akin to the Bricklin or DeLorean, the…more

Coronavirus/COVID-19, FRB, Main Street Lending Programs, Main Street New Loan Facility, Relief Measures

Crystal Fang

Main Street Lending Program (UPDATED)

This White Paper gives a broad understanding of the terms and implications of the Main Street Lending Program by delving into the key questions market participants are likely to have and addressing the latest changes implemented…more

Real Estate Market, Realty Transfer Taxes, Tenants, Tenants in Common

Stephanie Faraci

Los Angeles ‘Mansion Tax’ May Be Lessened Using Tenants-in-Common Structure

A recent amendment to the Los Angeles Municipal Code, Measure ULA, has greatly increased the real property transfer taxes for realty sold within the city. Properties owned and sold as tenants in common may help limit the impact…more

Employer Liability Issues, International Labor Laws, Sexual Harassment, UK

Phoebe Fardell

UK Employers’ New Duty to Prevent Sexual Harassment: Are You Ready?

Employers have a new duty to take reasonable steps to prevent sexual harassment of employees in the course of their employment under the Worker Protection (Amendment of Equality Act 2010) Act 2023 (the Act). After receiving…more

Banking Sector, Controlled Foreign Corporations, Financial Services Industry, Section 956, Shareholders

F. Scott Farmer

Final Section 956 Regulations Follow Approach of Proposed Regulations—with Two Helpful Modifications

Final regulations applicable to controlled foreign corporations and their US shareholders, issued by the US Treasury under Code Section 956, generally follow previously proposed regulations but introduce two modifications: a new…more

Consumer Price Index, Department of Industrial Relations, Department of Labor (DOL), Employer Liability Issues, Fair Labor Standards Act (FLSA)

Alicia Farquhar

California Announces 2024 Substantial Increase in Computer Professional Exemption Compensation Rate

California employers must ensure that compensation rates for exempt computer professionals meet updated salary thresholds, as of January 1, 2024. The minimum wage thresholds for the California computer professional…more

Centers for Medicare & Medicaid Services (CMS), Disclosure Requirements, Health Care Providers, Inflation Reduction Act (IRA), Medicare Part D

Saghi Fattahian

CMS Disclosures Due October 15: Is Your Plan’s Rx Coverage Still Creditable?

The Inflation Reduction Act (IRA) made several changes to Medicare Part D that may impact whether employer-sponsored coverage will be creditable for the 2025 plan year. With open enrollment season about to begin, plan sponsors…more

Broker-Dealer, Enforcement, Enforcement Actions, Municipal Securities Issuers, Securities and Exchange Commission (SEC)

Elizabeth Fay

Select Broker-Dealer Enforcement Cases and Developments: 2014 Year in Review

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.* The SEC…more

Appeals, China Agritech Inc v Resh, Class Action, Class Certification, Class Members

Joseph Fay

Supreme Court Limits American Pipe Tolling

The unanimous ruling in China Agritech, Inc. v. Resh, et al., reflects the US Supreme Court’s continued attempt to confine American Pipe tolling, denying such tolling for follow-on class actions filed after the expiration of…more

Federal Trade Commission (FTC), Franchise Agreements, Franchisee, Franchises, Franchisors

R. Brendan Fee

FTC Expands Its Focus on Franchising Regulation with New Policy Statement and Staff Guidance

The Federal Trade Commission (FTC) on July 12, 2024 released a policy statement warning that the use of contract provisions that prohibit franchisees from communicating with the government about legal violations are unlawful…more

Anti-Money Laundering, Broker-Dealer, Conflicts of Interest, Custody Rule, Customer Protection Rule

Melissa Feig

2016 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

Executive Summary - The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases…more

Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

Heather Feingold

Rewind and (P)FAST Forward: Current Developments in PFAS Regulation

With a flurry of new regulatory activity involving per- and polyfluoroalkyl substances (PFAS), 2023 proved to be a milestone year for PFAS governance by the US Environmental Protection Agency (EPA). Among other key developments,…more

Environmental Protection Agency (EPA), Hazardous Substances, PFAS, Toxic Chemicals, Toxic Substances Control Act (TSCA)

Stephanie Feingold

EPA Delays Start of Toxic Substances Control Act Reporting Period for PFAS Data

The US Environmental Protection Agency (EPA) issued a direct final rule on September 5 that will delay the beginning of the per- and polyfluoroalkyl substances (PFAS) reporting period under the Toxic Substances Control Act…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Wendy West Feinstein

Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative…more

Jennifer Feldsher

US Supreme Court: Nonconsensual Third-party Releases Impermissible Under Bankruptcy Code

The US Supreme Court ruled in a landmark 5-4 decision on June 27, 2024 that nonconsensual third-party releases, as proposed in Purdue Pharma’s bankruptcy plan, were not permissible under the Bankruptcy Code. A nonconsensual…more

Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Debtors, SCOTUS

Cancer, Commercial Insurance Policies, Duty to Defend, Food and Drug Administration (FDA), Food Labeling

Mark Feller

Legal Considerations for WHO’s ‘Possibly Carcinogenic’ Aspartame Classification

On July 14, 2023, the World Health Organization (WHO) published a summary of two findings regarding aspartame, an artificial sweetener found in many consumer products. One finding categorized aspartame as “possibly…more

CERCLA, Consent Decrees, Department of Justice (DOJ), Environmental Justice, Environmental Protection Agency (EPA)

Denise Fellers

EPA Updates Model Remedial Design/Remedial Action Consent Decree and Statement of Work

The updated model of the remedial design/remedial action consent decree and statement of work seeks to streamline and quicken CERCLA settlement negotiations and address environmental justice concerns of Superfund sites in…more

Centers for Medicare & Medicaid Services (CMS), Disclosure Requirements, Health Care Providers, Inflation Reduction Act (IRA), Medicare Part D

Allison Fepelstein

CMS Disclosures Due October 15: Is Your Plan’s Rx Coverage Still Creditable?

The Inflation Reduction Act (IRA) made several changes to Medicare Part D that may impact whether employer-sponsored coverage will be creditable for the 2025 plan year. With open enrollment season about to begin, plan sponsors…more

Brett Ferenchak

FCC Fines Non-Telecom Companies for Lapse in Compliance with Wireless Rules

FCC Fines Non-Telecom Companies for Lapse in Compliance with Wireless Rules August 19, 2016 The enforcement action highlights the importance of complying with FCC rules with respect to their wireless facilities and devices…more

Approval Requirements, Assignments, Enforcement Actions, FCC, Fines

Department of Defense (DOD), Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances, NDAA

Jenna Ferraro

US Government Presses on with PFAS Regulation

The US government took another step toward further regulation of per- and polyfluoroalkyl substances (PFAS) on December 15 with the US Senate passing the National Defense Authorization Act for Fiscal Year 2022 by a vote of…more

Employee Benefits, Individual Retirement Account (IRA), Retirement, Retirement Plan, SECURE Act

John Ferreira

SECURE 2.0 Simplifies Corporate Transactions with Mid-Year Termination Rules for SIMPLE IRA Plans

In connection with a merger, acquisition, or other corporate (M&A) transaction, buyers often face the dilemma of how to handle the seller’s existing retirement plans covering the continuing employees. Terminating a seller’s…more

Corporate Counsel, Employee Rights, Employer Liability Issues, Employment Discrimination, Separation Agreement

Alanna Fichtel

New York State Year-End Legislative Developments for Employers to Know

New York recently enacted a number of laws and rules affecting New York employers, many of which took effect immediately. Some of these laws are significant, including changes to the confidentiality preference agreements…more

Ballot Measures, Political Campaigns, Political Candidates, Presidential Elections, State and Local Government

Fred Fielding

2016 Post-Election Report

President - While final vote tallies are still being counted in several battleground states, Republican Donald J. Trump has surpassed the 270 Electoral College vote threshold to be elected as the 45th president of the…more

Biotechnology, Investors, Life Sciences, Pharmaceutical Industry, Research and Development

Suzanne Filippi

Get Ready, Set, and Go to the JPM Healthcare Conference

As Prescribed and Health Law Scan subscribers know that the end of the holidays means the annual J.P. Morgan (JPM) Healthcare Conference is only days away. To make the most of the 2024 conference and conference-adjacent…more

Board of Directors, Breach of Duty, Fiduciary Duty, Venture Capital

John Filippone

Staying in the Fight: Getting Your Company Through the Down Round to the Next Round of Financing

A “down round” is when a company raises capital based on a valuation that is lower (often materially so) than the company’s valuation in one or more prior financing rounds. Depending on the severity of the situation, a “down…more

Electric Generation Suppliers, Energy Policy, Federal Power Act, FERC, Power Plants

Richard Filosa

FERC Issues Rule to Implement Revisions to PURPA Regulations

FERC has issued a final rule, Order No. 872, revising the Commission’s regulations governing qualifying small power producers and co-generators (collectively, qualifying facilities or QFs) under the Public Utility Regulatory…more

Banking Sector, Cloud Service Providers (CSPs), EU, European Banking Authority (EBA), Financial Institutions

Ada Finkel

European Banking Authority Issues Recommendations for Outsourcing to Cloud Service Providers

European financial institutions (competent authorities, credit institutions, and investment firms as defined in EU Regulation No. 575/2013, collectively Institutions) have been instructed to comply with the European Banking…more

Case Management, Comment Period, Discovery, Federal Rules of Civil Procedure, Multidistrict Litigation

Mark Fiore

Commenters Weigh in on Proposed Federal MDL Rule to Help Shape Future of Mass Litigation

The Federal Advisory Committee on Civil Rules has opened public comment on proposed Rule 16.1, which addresses case management in multidistrict litigation (MDL) proceedings. The proposed rule attempts to provide guidance for…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

Debra Fischer

Texas Federal Court ‘Sets Aside’ FTC’s Noncompete Clause Rule

Judge Ada Brown of the US District Court for the Northern District of Texas entered a final judgment in Ryan LLC v. Federal Trade Commission (FTC) on August 20, 2024, holding unlawful and setting aside the FTC Noncompete Clause…more

Banking Sector, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Depository Institutions, Financial Institutions

Daniel Fishbein

CFPB Finalizes New Rule to Monitor Nonbank ‘Repeat Offenders’

The Consumer Financial Protection Bureau (CFPB) recently finalized its proposed rule to create a so-called “Repeat Offender” registry for certain covered financial services providers and individuals violating federal, state, and…more

Adverse Employment Action, Decriminalization of Marijuana, Disability Discrimination, Employment Policies, Marijuana

Jordan Fisher

New York’s Marijuana Regulation and Taxation Act: Employer Considerations

New York’s Marijuana Regulation and Taxation Act legalized recreational cannabis in New York State on March 31, 2021. While it will take some time to organize and implement many aspects of the law ..…more

Bankruptcy Court, Liquidated Damages, Make-Whole Doctrine, Noteholders

Chester Fisher III

Ultra Court Confirms Make-Whole Amount and Post-Petition Interest for OpCo Noteholders

The court awarded OpCo Noteholders in excess of $320 million in Make-Whole Amount and post-petition interest, confirming that make-whole is an enforceable liquidated damage claim…more

Blockchain, Broker-Dealer, Cryptocurrency, Digital Assets, Financial Industry Regulatory Authority (FINRA)

Mark Fitterman

FINRA Again Seeks Information on Broker-Dealers’ Digital Asset Activities

In its continued efforts to learn what broker-dealers and their employees are doing in the digital asset space, FINRA has effectively reissued a regulatory notice requesting that broker-dealers keep FINRA apprised of their…more

Air Pollution, Clean Air Act, Environmental Protection Agency (EPA), Federal Implementation Plans (FIP), NAAQS

Stephen Fitzgerald

US Supreme Court Grants Stay, Temporarily Blocks Implementation of EPA’s Good Neighbor Plan

The US Supreme Court issued on June 27, 2024 an opinion in Ohio v. EPA staying enforcement of the US Environmental Protection Agency’s (EPA’s) Federal Implementation Plan (FIP). The FIP sought to impose more stringent standards…more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

A. Klair Fitzpatrick

DOJ Criminal Division Launches Corporate Whistleblower Awards Pilot Program

The US Department of Justice’s (DOJ) Criminal Division on August 1 announced the details of its much-anticipated Corporate Whistleblower Awards Pilot Program. This three-year initiative aims to incentivize individuals to report…more

Americans with Disabilities Act (ADA), Diversity Jurisdiction, Forum Shopping, Principal Place of Business, Public Accommodation

Michael Fleming

California Appellate Court Holds Web Access Claims Against Web-Only Businesses Fail Under ADA and Unruh Act

The California Court of Appeal, Second Appellate District, issued a decision on August 1 holding that websites without any connection to physical place of business are not “places of public accommodation” under Title III of the…more

Auto Parts, Automotive Industry, CARB, Enforcement Guidance, Environmental Policies

Margret Flodeen

CARB Calls on Motor Vehicle Industry to Self-Report Regulatory Violations

Citing recent investigations and new emissions detection capabilities, the California Air Resources Board (CARB) urges automakers and equipment manufacturers to voluntarily disclose potential violations of regulatory…more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds

Joseph Floren

Fifth Circuit Vacates SEC Private Fund Adviser Rules in Full

In a unanimous decision published on June 5, 2024, the US Court of Appeals for the Fifth Circuit vacated the entire set of regulations, including amendments to existing rules (collectively, the Rules), adopted by the US…more

Form N-CEN, Form N-PORT, Investment Companies, Investment Company Act of 1940, Liquidity

Laura Flores

SEC Amends Registered Fund Reporting Requirements, Issues Guidance on Liquidity Risk Management Programs

The US Securities and Exchange Commission (SEC), by a 3-2 vote, recently adopted amendments to registered fund reporting requirements on Form N-PORT and Form N-CEN and provided guidance on open-end funds’ liquidity risk…more

Aaron Flyer

Court Limits FERC’s Authority to Direct Modifications Under Section 205

The court reaffirms that when reviewing a utility’s filing under Section 205, FERC may not “transform the proposal into an entirely new rate.”…more

Energy Sector, Federal Power Act, FERC, PJM, Section 205

Best Practices, Business Plans, Business Strategies, Capital Investments, Corporate Governance

Helen Fok

The Regulatory Overlay On ESG Investing

This White Paper highlights the legal and regulatory considerations in the United States, the United Kingdom, the European Union, Hong Kong, and Singapore that asset managers and their institutional investor clients should…more

General Partnerships, Institutional Limited Partners Association (ILPA), Limited Partnership Agreements, Limited Partnerships

Nichola Foley

ILPA Issues Guidance on Net Asset Value–Based Credit Facilities

The Institutional Limited Partners Association (ILPA) has released new guidance for limited partners (LPs) and general partners (GPs) on net asset value–based facilities (NAV Facilities). NAV-based lending, a type of financing…more

Cryptocurrency, Digital Assets, Employer Liability Issues, International Labor Laws, United Arab Emirates (UAE)

Rebecca Ford

Paying Salaries in Cryptocurrency in the UAE: A New Possibility?

A recent judgment from the Dubai Court of First Instance determined that part of an employee’s remuneration can be paid in cryptocurrency, but notably does not change the basic principle that cryptocurrencies cannot be the sole…more

Stephen Forster

No Surprise: 340B Audits Are on the Rise!

While audits are part of doing business in the ordinary course, businesses are generally less than eager to open the books. And the same is true when it comes to the 340B Drug Pricing Program. Audits are now making the list of…more

Audits, Drug Pricing, HRSA, Pharmaceutical Industry, Prescription Drugs

Ryan Fournier

Burger King Has Its Way: Vegan Whopper Class Action Suit Dismissed

In an order issued on July 20, Judge Raag Singhal of the US District Court for the Southern District of Florida dismissed a class action lawsuit that claimed Burger King Corporation’s advertising deceived customers by making a…more

Advertising, Breach of Contract, Burger King, Class Action, Food Manufacturers

Biometric Information, Biometric Information Privacy Act, Cybersecurity, Data Collection, Data Privacy

Gregory Fouts

Beware of Biometrics: Complying with Illinois’ Biometric Information Privacy Act

Biometrics are physical or behavioral human characteristics that can be used to digitally identify a person to grant access to systems, devices, or data. Examples of biometric identifiers are fingerprints, facial geometry scans,…more

Attorney's Fees, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Litigation

Karon Fowler

Federal Circuit Confirms Boundaries of Fee Recovery Under 35 USC § 285

In Dragon Intellectual Property LLC v. DISH Network LLC, the US Court of Appeals for the Federal Circuit addressed an “exceptional” set of circumstances concerning the recovery of attorney fees in district court litigation under…more

Amber Trzinski Fox

OSHA, Employment, and Antitrust: New Compliance Strategies for Grocery Industry Companies

Recent labor law, workplace safety regulation, and antitrust enforcement developments are creating an increasingly complex regulatory landscape for grocery industry employers. Companies must navigate an array of compliance…more

Fair Workweek, OSHA, Wage and Hour, Work Schedules, Workplace Safety

Bitcoin Mining, Certiorari, Cryptocurrency, NVIDIA, Nvidia Corp v E Ohman J or Fonder AB

Jason Frank

US Supreme Court Agrees to Review Securities Fraud Pleading Standards

The US Supreme Court granted certiorari in NVIDIA Corp. v. E. Ohman J:or Fonder AB on June 17, 2024, agreeing to consider the standards for pleading under the federal securities laws that statements are false and made with…more

Russell Franklin

Leveraging Legal Expertise in M&A Transactions to Drive Business Success

Given the significance of strategic transactions such as mergers, acquisitions, or dispositions, it is likely that in-house counsel has competent external counsel that it can leverage to do much of the heavy lifting regarding…more

Acquisitions, Corporate Counsel, Mergers, Shareholders

Background Checks, Criminal Background Checks, Criminal Records, Employer Liability Issues, Fair Chance Act

Andrew Frederick

LA County Passes Fair Chance Ordinance on Employer Consideration of Criminal History

The County of Los Angeles has announced a new Fair Chance Ordinance, taking effect on September 3, 2024, that will regulate the consideration of criminal history information by employers with five or more employees in…more

Ban the Box, Criminal Background Checks, Employer Liability Issues, Employment Policies, Gender Identity

Carol Freeman

Reminder: New California Employment Regulations Go into Effect July 1

Employers with employees in California should review policies and practices regarding consideration of criminal history in employment decisions as well as protections on the basis of gender identity, gender expression, and…more

David Freese

ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial…more

Bitcoin, Cryptocurrency, Digital Assets, ETFs, Exchange-Traded Products

Jonathan Fritts

Trump National Labor Relations Board Reverses Major Obama-Era Decisions

With the issuance of four recent decisions overruling key Obama-era National Labor Relations Board precedent and announcing a review of the NLRB’s 2015 election regulations, the NLRB has begun the process of charting a new…more

Joint Employers, NLRA, NLRB, Trump Administration

Brian Frontino

FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024…more

Advertising, Automotive Industry, Automotive Loans, Banks, Car Dealerships

Climate Change, Corporate Governance, Disclosure Requirements, Environmental Social & Governance (ESG), Popular

Tomoko Fuminaga

ESG Investments: the Asia-pacific Regulatory Perspective

Environmental, social, and governance (ESG) investing is gaining traction across the Asia-Pacific region, but different jurisdictions and markets have varied approaches to disclosure requirements and regulations, creating a…more

Banking Sector, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Depository Institutions, Financial Institutions

Daniel Funaro

CFPB Finalizes New Rule to Monitor Nonbank ‘Repeat Offenders’

The Consumer Financial Protection Bureau (CFPB) recently finalized its proposed rule to create a so-called “Repeat Offender” registry for certain covered financial services providers and individuals violating federal, state, and…more

CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus, Paycheck Protection Program (PPP)

Matthew Furlong

COVID-19: Cares Act Provisions Impacting The Banking Sector

The Coronavirus Aid, Relief, and Economic Security (CARES) Act offers broad-based economic support for companies contending with the disruptions caused by the coronavirus (COVID-19) pandemic…more

Lauren Wansor Galbraith

Navigating PPP Loans In M&A Transactions (UPDATED)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government…more

CARES Act, Coronavirus/COVID-19, Eligibility, Federal Loans, Financial Stimulus

Andrew Gallo

Third Circuit Finds Make-Whole Is Unmatured Interest That Must Be Paid by Solvent Debtor

The US Court of Appeals for the Third Circuit on September 10, 2024 issued its anticipated opinion in In re The Hertz Corp., with a majority holding that make-whole premiums constitute unmatured interest disallowed by the US…more

Bankruptcy Code, Chapter 7, Creditors, Debtors, Section 502

Coronavirus/COVID-19, Executive Orders, Financial Services Industry, Foreclosure, Mortgage Servicers

Ferdinand Gallo III

New York Executive Orders Temporarily Limit Bank, Mortgage Servicer, and Landlord Remedies

In response to the coronavirus (COVID-19) crisis, New York Governor Andrew Cuomo has issued two executive orders that place temporary restraints on the ability of banks, residential mortgage servicers, and landlords to exercise…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Environmental Protection Agency (EPA), Government Agencies

Ella Foley Gannon

The End of the Chevron Doctrine: an Environmental Law Watershed?

The US Supreme Court’s opinion in the Loper Bright v. Raimondo and Relentless v. Commerce cases overruling the rule of deference to agency interpretations of federal statutes established by its decision 40 years ago in Chevron…more

Animal Food, Food and Drug Administration (FDA), Food Manufacturers, Food Safety, Food Supply

Alexandre Gapihan

The Horse Is Out of the Barn: FDA and AAFCO Memo of Understanding on Animal Feed Ingredients to Expire

The Association of American Feed Control Officials (AAFCO) and the US Food and Drug Administration (FDA) announced on August 2, 2024 that their long-standing Memorandum of Understanding (MOU) governing the development and review…more

Ascertainable Class, Breach of Contract, Breach of Implied Contract, Class Action, Class Certification

Bernard Garbutt III

COVID-19: Court Denies Motion for Class Certification in Ticket Refund Case

A federal district court in Florida denied a plaintiff’s motion for class certification in a putative class action asserting claims on behalf of ticket purchasers against Viagogo, a secondary ticket marketplace platform, for…more

Allison Gargano

New Opportunities for Investors in the Growing Women's Sports Sector

Investment in women’s sports has undergone a significant transformation in recent years, with the once underinvested market now commanding attention from sports fans and investors globally. The shift not only reflects the…more

E-Verify, Employer Liability Issues, Employment Eligibility Verification, Foreign Workers, Immigration Procedures

Laura Garvin

Florida’s New Immigration Law to Require Private Employers to Use E-Verify

Florida’s new immigration bill, effective July 1, will require private employers with 25 or more employees to verify compliance with US work authorization regulations through the E-Verify system. Previously, only public…more

Angela Gassner

California EPA Adopts Public Health Goals for PFOA and PFOS

The California Environmental Protection Agency (CalEPA) on April 5 set new public health goals for two per- and polyfluoroalkyl substances (PFAS) in drinking water, signaling the possibility of strict regulation by the state…more

Drinking Water, Environmental Protection Agency (EPA), OEHHA, PFAS, Water

Country of Origin, Federal Trade Commission (FTC), Final Rules, FTC Act, Made in the USA

Sophia Gaulkin

FTC and USDA Promote Transparency in ‘Made in USA’ Labeling Claims

The Federal Trade Commission (FTC) recently issued a final rule that marks a major shift in the regulatory landscape for labeling that has already begun to impact other regulatory bodies—namely, the US Department of Agriculture…more

Mark Geday

UK Takeover Panel Makes Extensive Compensation and ‘Cold Shoulder’ Orders for UK Takeover Code Breaches

The UK Takeover Panel (Panel) has made its first-ever compensation order under the statutory powers granted to it under the Companies Act 2006 (CA 2006). It has also issued “cold shoulder” orders against 10 individuals, the most…more

Companies Act, Corporate Governance, Directors, UK

Alana Genderson

OSHA, Employment, and Antitrust: New Compliance Strategies for Grocery Industry Companies

Recent labor law, workplace safety regulation, and antitrust enforcement developments are creating an increasingly complex regulatory landscape for grocery industry employers. Companies must navigate an array of compliance…more

Fair Workweek, OSHA, Wage and Hour, Work Schedules, Workplace Safety

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

Seth Gerber

Texas Federal Court ‘Sets Aside’ FTC’s Noncompete Clause Rule

Judge Ada Brown of the US District Court for the Northern District of Texas entered a final judgment in Ryan LLC v. Federal Trade Commission (FTC) on August 20, 2024, holding unlawful and setting aside the FTC Noncompete Clause…more

Consumer Protection Laws, Fraud and Abuse, Local Ordinance, Unfair or Deceptive Trade Practices

Nicholas Gess

Philadelphia Enacts Ordinance to Protect Residents From Unfair or Deceptive Trade Practices

Philadelphia joins other major US cities in passing a local law to address consumer fraud and abuse. With its newfound enforcement authority, the Philadelphia Law Department can investigate and initiate legal action against…more

Jason Gettleman

What’s Driving the Future of Asia’s Tech Scene: Key Trends and Regulatory Updates

Heading into 2023, Asia’s tech scene is well-positioned for strong growth potential. As with any industry where advancement and innovation are outpacing regulation, the complex landscape can be difficult for businesses to…more

Asia, CFIUS, Data Privacy, Digital Assets, Due Diligence

Victor Ghidu, Ph.d.

USPTO Proposes New Rule on Terminal Disclaimers

The US Patent and Trademark Office (USPTO) recently proposed a new rule for filing terminal disclaimers to overcome obviousness-type double patenting rejections. If adopted, the rule will likely spur patent applicants to…more

Double Patent, Patents, Proposed Rules, Terminal Disclaimer, USPTO

Contract Terms, Indemnification Clauses, Indemnity, Indemnity Claim

Katherine Gianelli

‘Indemnify, Defend, and Hold Harmless’: What Does It Really Mean?

An indemnification provision serves as a contractual remedy to redress a party’s (or third party’s) financial loss suffered as a result of a claim, breach, or some other event or condition set forth in the provision…more

Kirstin Gibbs

Day 3 Dispatch from CERAWeek: A Trip to the Innovation Agora and Other Executive Conference Discussions

Our coverage of the CERAWeek conference by S&P Global in Houston, running from March 18 to March 22, continues with more updates. Today’s missive comes from the Innovation Agora, which is connected to the Executive Conference at…more

Energy Sector, Infrastructure, Natural Gas, Oil & Gas, Pipelines

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Popular, Renewable Energy

Kelly Gibson

ESG Investing: A Global Regulatory Review and Outlook

As environmental, social, and governance (ESG) considerations become increasingly central to investment strategies worldwide, the regulatory landscapes governing ESG investing are evolving rapidly across different regions…more

Acquisitions, Contract Terms, Coronavirus/COVID-19, Hospital Mergers, Material Adverse Change Clauses (MACs)

Mark Gilligan

Global Healthcare Transactions Series: Impact of COVID-19 on Healthcare Mergers and Acquisitions in UAE

The COVID-19 pandemic created many uncertainties and challenges for investors and operators alike across the Middle East, including in the United Arab Emirates, which is often considered a regional healthcare and business hub…more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

John Gisleson

Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not…more

Employer Liability Issues, Medical Leave, Paid Leave, Paid Time Off (PTO), State Labor Laws

Gabriel Gladstone

Massachusetts Amends Paid Family and Medical Leave Law

As of November 1, 2023, the Massachusetts Paid Family and Medical Leave (PFML) law will permit employees to supplement their PFML benefits using accrued paid time off (PTO), such as sick or vacation pay. Employers cannot require…more

Confidential Information, Early Stage Companies, Entrepreneurs, Life Sciences, Master Service Agreement

David Glazer

How Early-Stage Life Sciences Companies Can Avoid Potential Legal Missteps Through These Five Key Commercial Agreements

In the early days of a life science company, there can be confusion and a number of landmines where legal missteps may happen. As part of our 2022 Startup & Accelerate Webinar Series, we look at five key commercial agreements…more

Breach of Contract, Contract Terms, Counterparties, Licenses

Randall Gleason

Keeping Options Open When Going Exclusive

When a contracting party decides that the counterparty is worth an exclusive commitment, such a decision often rests on some minimum expectations and basic assumptions. But, in light of Murphy’s law, it may be worthwhile to put…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

Abbey Glenn

Assessing Your Health Plan’s Service Provider Compensation

Based on new ERISA disclosure rules, now is a good time to review the compensation paid to your health plan’s consultant and broker. ERISA Section 408(b)(2)(B) requires brokers and consultants expecting $1,000 or more in direct…more

Employer Liability Issues, Foreign Workers, Immigrants, Immigration Procedures

Andrew Gniewek

2026 World Cup: Navigating Labor, Employment, and Immigration Challenges

The 2026 Men’s World Cup is expected to draw in a substantial cross-border workforce, meaning participating employers should prepare ahead of time if they want to successfully navigate this global event--including with respect…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Amanda Goceljak

Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative…more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Popular, Renewable Energy

Elizabeth Goldberg

ESG Investing: A Global Regulatory Review and Outlook

As environmental, social, and governance (ESG) considerations become increasingly central to investment strategies worldwide, the regulatory landscapes governing ESG investing are evolving rapidly across different regions…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Julie Goldemberg

Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative…more

Artificial Intelligence, Energy Sector, Nuclear Power, Nuclear Regulatory Commission, Popular

Robert Goldfin

NRC Staff Lays Framework for the Agency’s AI Use

The demand for energy is anticipated to rise significantly due to the increased deployment of artificial intelligence (AI) technologies, which are highly energy intensive. As we discussed in a recent thought leadership piece,…more

BE-180, BEA, Filing Deadlines, Financial Regulatory Reform, Financial Services Industry

Richard Goldman

Deadline for Filing BE-180 Approaches for US Financial Service Providers

As the US Department of Commerce seeks certain financial services data from an expanded list of US financial services providers, most US fund managers, investment advisers, private funds, and registered investment companies will…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), PEP

Theresa Gomez

Could Sponsoring a Pooled Employer Plan Grow Your Business?

While large financial institutions with significant expertise in retirement plan administration are widely expected to sponsor most pooled employer plans (PEPs), other firms (such as franchisors, gig economy employers, joint…more

Employer Liability Issues, Labor Code, Private Attorneys General Act (PAGA), State Labor Laws, Wage and Hour

Carrie Gonell

California's New PAGA Bill: Key Changes and Implications for Employers

The State of California significantly overhauled the Labor Code Private Attorneys General Act of 2004 (PAGA) with the recent enactment of Assembly Bill 2288 and Senate Bill 92. This LawFlash summarizes some of the key provisions…more

Consumer Privacy Rights, Cybersecurity, Data Collection, Data Privacy, Data Protection

Ali Gonsman

Navigating the Evolving Landscape of State Consumer Privacy Laws

With the flurry of new consumer privacy laws enacted in states across the country, it is vital for companies operating in multiple states to remain informed of this changing landscape in order to plan and execute their…more

Arbitration, Electricity, Energy Sector, Foreign Investment, International Arbitration

Humberto Padilla Gonzalez

Amendments to Mexico’s Power Industry Law Remain Suspended Despite Court Decisions

As of July 15, 2021, both Federal Collegiate Courts in Administrative Matters Specialized in Economic Competition (Tribunal Colegiado en Materia Administrativa Especializado en Competencia Económica, Radiodifusión y…more

Corporate Counsel, Executive Compensation, First Impression, Standard of Review

Alexandra Good

Delaware Court Signals Significant Change in Standard of Review of Executive Compensation Decisions for Controlled Companies

In a case of first impression, the Delaware Court of Chancery has held that the entire fairness standard of review applies to compensation decisions made with respect to controlled companies, absent implementation of specified…more

Bankruptcy Court, Bankruptcy Trustees, Chapter 11, Constitutional Challenges, Fees

John Goodchild, III

SCOTUS Punts on Remedy for Unconstitutional Chapter 11 Quarterly Fee Increase

Earlier this year, we highlighted the US Supreme Court’s grant of certiorari in Siegel v. Fitzgerald (In re Circuit City Stores, Inc.) to determine whether a 2017 statute that increased Chapter 11 quarterly fees was…more

Algorithms, Artificial Intelligence, Department of Justice (DOJ), Federal Trade Commission (FTC), Innovative Technology

Joshua Goodman

Global Regulators Issue Joint Statement on Competition in the Generative AI Sector

The European Commission, UK Competition and Markets Authority, US Department of Justice, and US Federal Trade Commission have issued for the first time a joint statement outlining their commitment to working together to create a…more

Centers for Medicare & Medicaid Services (CMS), Disclosure Requirements, Health Care Providers, Inflation Reduction Act (IRA), Medicare Part D

Lindsay Goodman

CMS Disclosures Due October 15: Is Your Plan’s Rx Coverage Still Creditable?

The Inflation Reduction Act (IRA) made several changes to Medicare Part D that may impact whether employer-sponsored coverage will be creditable for the 2025 plan year. With open enrollment season about to begin, plan sponsors…more

Clean Energy, Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits

Paul Gordon

Inflation Reduction Act Guidance Proposed on Direct Payment for Energy Credits

The Inflation Reduction Act of 2022 opened up many energy credit opportunities for tax-exempt organizations. The Internal Revenue Service (IRS) and US Treasury Department released on June 14, 2023 proposed regulations on the…more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

John Gorman

PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Cybersecurity, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Retirement Plan

Michael Gorman

DOL Reiterates Its Focus on Cybersecurity with Updated Guidance

The US Department of Labor (DOL) issued a press release on September 6, 2024 reminding ERISA plan fiduciaries that it considers cybersecurity to be an area of “great concern” and emphasizing that it continues to investigate…more

William Gorrod

Upcoming Deadline to Dispute California Property Tax Valuation

For California property owners that could potentially reduce their property taxes with a decline-in-value assessment appeal, the property tax assessment appeals for 2024 are due by either September 16 or December 2 depending on…more

Property Owners, Property Tax, Property Valuation, State Taxes, Tax Assessment

Sean Graber

ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial…more

Bitcoin, Cryptocurrency, Digital Assets, ETFs, Exchange-Traded Products

Artificial Intelligence, Governor Newsom, Innovative Technology, Machine Learning, Technology Sector

Andrew Gray IV

California’s SB 1047 Would Impose New Safety Requirements for Developers of Large-Scale AI Models

The California State Assembly passed on August 28, 2024 proposed bill SB 1047, also known as the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act, which aims to add new requirements to the development…more

Fixing America’s Surface Transportation Act (FAST Act), Form 10-K, Interim Rule, Securities and Exchange Commission (SEC)

Linda Griggs

Thanks For (Less Than) Nothing

Section 72001 of the FAST Act and the SEC’s interim final rule. In a December 2015 LawFlash, we addressed several provisions of the Fixing America’s Surface Transportation Act (“FAST Act”) that relate to the federal…more

College Athletes, Colleges, Educational Institutions, Fair Labor Standards Act (FLSA), NCAA

Alexander Grodan

Third Circuit Establishes New Employee Test for Student Athletes

In Johnson v. National Collegiate Athletic Association (NCAA), the US Court of Appeals for the Third Circuit held that student athletes should be permitted to pursue a claim under the Fair Labor Standards Act (FLSA). The opinion…more

Artificial Intelligence, Copyright, Intellectual Property Protection, Text Messages

Dana Gross

Rise of Text-to-Speech AI Models Part 1: Intellectual Property Issues

Text-to-speech AI models (TTS Models) are rapidly evolving within the broader spectrum of AI solutions, offering tremendous potential for businesses. These models can analyze text and speech as well as generate anything from…more

Life Sciences, Patent-Eligible Subject Matter, Patents

Eric Grote

In Split Decision, Federal Circuit Invalidates Diagnostic Method Patent

A split panel of the US Court of Appeals for the Federal Circuit held on February 6 that claims to an assay for diagnosing myasthenia gravis are not patent eligible because they are directed to a natural law. The majority…more

Leora Grushka

NYC Postpones Enforcement of AI Bias Law Until April 2023 and Revises Proposed Rules

The New York City Department of Consumer and Worker Protection (DCWP) announced that it would postpone enforcement of New York City Local Law 14a4 (the AI Law) from January 1, 2023, to April 15. The DCWP also released further…more

Algorithms, Artificial Intelligence, Bias, City of New York, Machine Learning

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Dennis Gucciardo

Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative…more

CFIUS, Department of Homeland Security (DHS), Department of Justice (DOJ), Export Control Reform Act (ECRA), Export Controls

Jiazhen Guo

US House of Representatives Holds ‘China Week’ – What Happened and What’s Next?

With federal elections and the conclusion of the 118th Congress drawing near, “China Week,” as dubbed by House leadership, presented one of the final opportunities for the US House of Representatives to act on a variety of…more

Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds, Securities and Exchange Commission (SEC)

Joshua Gurney

SEC Adopts New Private Fund Adviser Rules with Nuanced Application to Non-US Advisers

The US Securities and Exchange Commission (SEC) recently adopted sweeping new rules under the Investment Advisers Act of 1940 (Advisers Act) that apply in certain circumstances to non-US advisers to private investment funds…more

Administrative Law Judge (ALJ), Broker-Dealer, CFTC, Cybersecurity, Disgorgement

Ariel Gursky

Current Developments in Sec and Finra Examinations & Enforcement 2022–2023 - A Special Report for Investment Advisers and Broker-Dealers

Registered entities continued to be a significant focus of the US Securities and Exchange Commission’s (SEC’s or Commission’s) enforcement and rulemaking programs in 2022, and we expect similar attention this year. The SEC’s…more

Affordable Housing, Low Income Housing, Low-Income Issues, Rental Property, Tax Credits

Harrison Haas

US Senators and Representatives Propose Bipartisan Workforce Housing Tax Credit Act

In response to a shortage of affordable middle-income housing in the United States, legislators recently introduced the Workforce Housing Tax Credit Act, which includes significant financial incentives for developers, to help…more

Kate Habershon

UK Government Calls for Evidence on the Reform of Carried Interest

On 29 July, the UK government issued a call for evidence in connection with its proposed reform of the UK taxation of carried interest. Noting that the tax treatment of carried interest is the subject of considerable debate, the…more

Evidence, Income Taxes, Tax Rates, UK

Capital Markets, China, Corporate Governance, Department of Justice (DOJ), Foreign Corporations

Michael Hacker

US-China Auditing Oversight Agreement Signals Cooperation Between Nations but Could Lead to Increased Enforcement Risk

Due to a recent agreement between the Public Company Accounting Oversight Board and Chinese securities regulators, many US exchange–listed companies audited by accounting firms based in mainland China and Hong Kong may be able…more

Beneficial Owner, Corporate Transparency Act, FinCEN, Popular, Reporting Requirements

Carson Haddow

Corporate Transparency Act Update: Beneficial Ownership Reporting in Tax Equity Transactions

Regulations recently coming into effect under the Corporate Transparency Act (CTA) may impose new beneficial ownership reporting obligations on clean energy tax equity partnerships and joint ventures. The rules now require…more

Artificial Intelligence, Corporate Counsel, EU, General Data Protection Regulation (GDPR), Innovative Technology

Kristin Hadgis

EU AI Act Compliance: 10 Key Steps for Providers and Deployers of AI Systems

The European Union’s new AI Act (the Act) went into efect on 1 August 2024. The Act is the first-ever comprehensive law focused on artifcial intelligence and machine learning (collectively, AI). The Act impacts many…more

Abu Dhabi Global Markets (ADGM), Financial Services Industry, Fund Managers, Hedge Funds, Investment Adviser

Alexios Hadji

A Trending Hedge Fund Hub: Key Aspects of ADGM Hedge Funds

The Abu Dhabi Global Market (ADGM) is fast becoming an international financial hub in the MENA region for global hedge fund managers that are drawn to the quality of the ADGM’s independent regulator, the Financial Services…more

Maya A. Hairston

New IRS Guidance Provides a Spot of Certainty Amid Digital Asset Limbo

Per recent transitional guidance, the IRS will not require taxpayers to report transactions involving receipt of digital assets under Section 6050I…more

Cryptocurrency, Digital Assets, IRS, Tax Liability, Tax Planning

Employee Rights, Employer Liability Issues, Local Ordinance, Posting Requirements

Ashley Hale

NYC Creates Workplace Bill of Rights Poster to Be Distributed by July 1

New York City employers must post and distribute to employees in New York City a new “Know Your Rights at Work” notice created by the New York City Department of Consumer and Worker Protection (DCWP) by July 1. The notice is…more

Aircraft Equipment, Airlines, Aviation Industry, Cape Town Convention, Corporate Governance

Dannielle Hamer

UK Corporate Insolvency and Governance Act 2020: Protection for Cape Town-Registered Interests

The Corporate Insolvency and Governance (CIG) Act 2020, which was enacted on 25 June 2020, introduces a number of permanent changes to the insolvency and restructuring framework in the United Kingdom, some of which have specific…more

Andrew Hamilton

Preparation is Key When Selling a Business: What to Know

After years of dedication to building a business, the time has come to consider selling. The process of selling can be complex, but taking the time to prepare before listing a business for sale or engaging with potential buyers…more

Acquisitions, Buyers, Due Diligence, Sellers, Selling a Business

Amended Rules, NYSE, Reverse Stock Splits, Securities and Exchange Commission (SEC), Stock Splits

Thurston J. Hamlette

NYSE Amendments to Trading Halt Rules for Reverse Stock Splits Effective May 11

The New York Stock Exchange’s (NYSE) amendments to NYSE Rule 123D (Rule 123D) (Halts in Trading) will become effective on May 11, 2024. The amendments to Rule 123D (NYSE Amendments) provide for a regulatory halt to trading at…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Benjamin Hand

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Carbon Emissions, Climate Change, Energy Projects, Environmental Social & Governance (ESG), Greenhouse Gas Emissions

Elizabeth Hanigan

Companies Committing to Corporate Sustainability

The scope of commitments by corporations involving their own sustainability efforts around the globe has markedly accelerated this year. About 300 companies have signed on to the RE100 initiative, which brings together…more

Mortgage Lenders, Mortgages, Property Tax, Real Estate Market

Ryan Hanofee

C-Pace Financing: Exploring the Benefits and Risks

With real estate market conditions continuing to remain in flux, many developers and operators of real estate have been left searching for new partners and capital providers to finance acquisitions and development. One option…more

Insurance Commissioners, Insurance Industry, Investment, NAIC

Richard Hanson

Update on NAIC Proposals to Challenge Credit Ratings for Structured Securities

The National Association of Insurance Commissioners recently held its August 2024 meeting, which saw significant changes to the proposal pertaining to the Security Valuation Office's discretion authority over designations…more

Xavier Haranger

EU Continues Combating Human Rights Violations with European Forced Labour Regulation

The European Parliament’s recently adopted European Forced Labor Regulation (the Regulation) aims to ban products made with forced labor from the European market, a crucial step toward the European goal of eliminating all forms…more

Due Diligence, EU, Forced Labor, Human Rights, Supply Chain

Critical Infrastructure Sectors, E-Scooters, Educational Institutions, Green Transportation, Innovative Technology

Joan Haratani

State and Local Survey of Laws Regulating Escooter Sharing Services

The growth and use of electric scooters (escooters) for personal transportation has exploded over the last several years. Much of this growth has been driven by escooter sharing companies, which, rather than pursuing a model of…more

Business Interruption, Business Losses, Captive Insurance Company, Coronavirus/COVID-19, Insurance Claims

David Harbaugh

Captive Insurance Opportunities and Solutions Post-COVID-19

Companies with coronavirus (COVID-19)-related losses and legacy liabilities may appreciate significant additional tax benefits from funding those legacy liabilities through a captive insurer before the end of this year…more

Dr. Florian Harder

Federal Government Expands Access to Capital for Startups

The federal government is planning to invest considerable funds into promoting startups investing in artificial intelligence, climate, quantum, or biotechnology, for example, and into increasing exit opportunities for German and…more

Investment, Investors, Startups, Venture Capital

Asset Management, Blockchain, Cryptocurrency, Distributed Ledger Technology (DLT), Financial Markets

Debra Hare

Tokenized Funds, The Next Investment Trend? Regulatory Developments in the UK, EU, and UAE

There has been a growing trend among traditional funds and asset managers to launch programs to tokenize alternative assets. The main benefits of tokenizing funds include increased liquidity and accessibility, heightened…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

Thomas Harman

1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Biologics, Biosimilars, BPCIA, Food and Drug Administration (FDA), Patent Infringement

Margaret Harney

Blockbuster Biologics - Review Issue 24

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to…more

Centers for Medicare & Medicaid Services (CMS), Final Rules, Health Care Providers, Long Term Care Facilities, Long-Term Care

Jacob Harper

CMS Publishes Final Rule for Minimum Staffing Standards for Long-Term Care Facilities

The Centers for Medicare & Medicaid Services (CMS) published its Final Rule today to implement a minimum staffing “floor” for nursing homes in the United States, as first announced on April 22. The Final Rule, which as proposed…more

Anti-Harassment Policies, Corrective Actions, Employer Liability Issues, Employment Policies, Hostile Environment

Matthew Harper

New Texas Laws Expand Sexual Harassment Liability for Employers and Individuals

Texas has expanded sexual harassment protections for employees in the workplace beyond those offered under federal law. As of September 1, 2021, individuals and all employers (including those with only one employee) may now face…more

Contaminated Properties, Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances, National Priorities List (NPL)

Colin Harris

EPA May Ignore Mitigation System and Use of Industrial Facility in National Priorities Listing

Deferring to the US Environmental Protection Agency, the US Court of Appeals for the DC Circuit rejected a challenge to the first-ever listing of a site on the Superfund National Priorities List under recent regulatory revisions…more

Gregory (G.T) Harris

Preparation is Key When Selling a Business: What to Know

After years of dedication to building a business, the time has come to consider selling. The process of selling can be complex, but taking the time to prepare before listing a business for sale or engaging with potential buyers…more

Acquisitions, Buyers, Due Diligence, Sellers, Selling a Business

Aircraft Finance Insurance Consortium (AFIC), Aircraft Financing, Aviation Industry, Equity Investors, Global Market

Ivan Harris

JOL vs. JOLCO in the Aviation Sector: What Are They and How Do They Differ?

2022 saw a gradual return of Japanese operating leases (JOLs) and Japanese operating leases with call options (JOLCOs) in the aviation sector. These products are essentially used to deploy Japanese equity, bringing back more…more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

Jillian Harris

2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Acquisitions, Capital Markets, Initial Public Offering (IPO), Listing Rules, Mergers

Caitlin Dey Harrison

A Look at the SPAC Market in 2022

A Special Purpose Acquisition Company (SPAC) is a blank-check company formed for the purpose of effecting a business combination with one or more businesses. While SPACs are not new, they have recently increased in prevalence…more

Corporate Transparency Act, FinCEN, Investment Company Act of 1940, Private Funds, Securities and Exchange Commission (SEC)

Joy Crutcher Harrison

US Corporate Transparency Act: Impact on Private Funds and Venture Capital Funds

The final rule of the Financial Crimes Enforcement Network (FinCEN) implementing the Corporate Transparency Act’s (CTA’s) beneficial ownership requirements will become effective on January 1, 2024. The final rule may apply to…more

John Hartigan

OCC’s Updated Guidance on Retail Nondeposit Investment Products

The Office of the Comptroller of the Currency (OCC) recently released an updated and substantially revised section of its Comptroller’s Handbook titled “Retail Nondeposit Investment Products” (the Booklet). The Booklet replaces…more

Banking Sector, Banks, Guidance Update, Industry Examinations, OCC

Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits, IRS

Gregory Hartker

IRS and Treasury Release Credit Transfer Guidance Aiming to Jump Start Market for Ira's Clean Tech Industry Tax Credit Sales

On June 14, 2023, the Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) released temporary regulations (Temporary Regulations) and proposed regulations (Proposed Regulations; collectively with the…more

Business Litigation, Class Action, Commercial Court

Patrick Harvey

Defendant Class Actions Are Dead in Maryland State Courts

The Maryland Court of Appeals voted on Wednesday to adopt a new rule abolishing all defendant class actions in Maryland state courts. The new Rule 2-231, which is effective prospectively, explicitly limits the availability of…more

Biometric Information, Biometric Information Privacy Act, Data Collection, Data Privacy, Fingerprints

Alborz Hassani

Illinois Supreme Court Holds Healthcare Employee Fingerprint Data Exempt from BIPA

In the first win for defendants facing Illinois Biometric Information Privacy Act (BIPA) litigation before the Illinois Supreme Court, the Court in Mosby v. Ingalls Memorial Hospital held that BIPA excludes from its protections…more

False Claims Act (FCA), Health Care Providers, Medicaid, Medicare

Cassandra Hastie

False Claims Act Enforcement Continues to Target Education Industry

A recent settlement agreement presents another example of how educational institutions can find themselves facing potential liability under the False Claims Act (FCA). The settlement illustrates how FCA liability remains a risk…more

Cybersecurity, Cybersecurity Maturity Model Certification (CMMC), Department of Defense (DOD), DFARS, Federal Contractors

Alexander Hastings

DOD Progresses Toward CMMC 2.0 Implementation with New Proposed Rule

The US Department of Defense (DoD) has issued a new proposed rule for implementing the next iteration of the Cybersecurity Maturity Model Certification (CMMC) 2.0 program. This action drives forward the DoD’s plans to bolster US…more

Administrative Procedure Act, Chevron Deference, Environmental Protection Agency (EPA), Loper Bright Enterprises v Raimondo, Popular

Douglas Hastings

DC Circuit Makes Clear Loper Bright Did Not End Deference to Agency Factual Determinations

In a decision on the US Environmental Protection Agency’s risk assessment of a chemical included in its Miscellaneous Organic Chemical Manufacturing (MON) rule, the US Court of Appeals for the District of Columbia Circuit…more

Intellectual Property Protection, Patent Litigation, Patent Trial and Appeal Board, Patents, USPTO

C. Erik Hawes

Early Results of USPTO’s New Climate Change Mitigation Pilot Program

The United States Patent and Trademark Office launched the Climate Change Mitigation Pilot Program last year to incentivize the filing of patent applications that cover technologies directed to climate change mitigation. With…more

Cybersecurity, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Retirement Plan

Matthew Hawes

DOL Reiterates Its Focus on Cybersecurity with Updated Guidance

The US Department of Labor (DOL) issued a press release on September 6, 2024 reminding ERISA plan fiduciaries that it considers cybersecurity to be an area of “great concern” and emphasizing that it continues to investigate…more

Automotive Industry, Connected Cars, Electric Vehicles, Manufacturers, National Security

Brent Hawkins

Evolving Regulatory Landscape for Connected Vehicles: Balancing Innovation with National Security

The US Department of Commerce’s Bureau of Industry and Security (BIS) took a potentially important step toward shaping the future of connected vehicles (CVs) by issuing an advance notice of proposed rulemaking (ANPRM) on…more

Employer Liability Issues, Labor Code, Private Attorneys General Act (PAGA), State Labor Laws, Wage and Hour

John Hayashi

California's New PAGA Bill: Key Changes and Implications for Employers

The State of California significantly overhauled the Labor Code Private Attorneys General Act of 2004 (PAGA) with the recent enactment of Assembly Bill 2288 and Senate Bill 92. This LawFlash summarizes some of the key provisions…more

Biologics, China, Intellectual Property Protection, Manufacturers, Pharmaceutical Industry

Mudan He

China Boosts Regulatory Framework for Local Pharmaceutical Manufacturing

In recent years, China has introduced significant changes to its Drug Administration Law and corresponding legislation, including the nationwide Market Authorization Holder (MAH) system. These reforms aim to boost foreign…more

Decriminalization of Marijuana, Drug Testing, Employer Liability Issues, Employment Policies, Human Resources Professionals

August Heckman III

New Jersey Cannabis Regulatory Commission Issues Interim Guidance on Workplace Impairment

The New Jersey Cannabis Regulatory Commission recently issued interim guidance on the workplace drug testing provisions of the state’s recreational cannabis law meant to act as a placeholder until regulations on the standards…more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP, Labor Regulations

Brian Hector

SECURE Act 2.0: Impact on ESOPs

The SECURE 2.0 Act of 2022 (SECURE Act 2.0) makes far-reaching changes to the US retirement plan system. Our initial SECURE Act 2.0 LawFlash provided a general overview of its significant provisions. This blog post—one in our…more

Annual Filings, Charitable Organizations, E-Filing, E-Signatures, Filing Deadlines

Allison M. Heimann

New York AG Launches Easy-to-Use Online Filing Portal for State Charities

New York Attorney General Letitia James has announced the launch of an easy-to-use online filing portal for charities to file required state annual financial disclosures. The new system will use e-signatures and electronic…more

Cybersecurity, Data Protection, General Data Protection Regulation (GDPR), Germany, International Data Transfers

Dr. Joachim Heine

German Data Protection Authorities on Asset Deals: Restrictions on Data Transfers Under GDPR

The German Data Protection Conference (DSK) on September 11, 2024 published guidance on asset deals (the Guidelines) that distinguishes between various stages of a sale process and the relevant personal data that can be shared…more

Design Patent, Intellectual Property Protection, Obviousness, Patent Litigation, Patents

John Hemmer

Federal Circuit Overhauls Test for Assessing Design Patent Obviousness

In a landmark decision, the US Court of Appeals for the Federal Circuit has overruled the longstanding test for assessing whether a design patent is considered obvious in view of prior art. This decision represents a pivotal…more

Gender Discrimination, Gender Neutral, New Legislation, Price Discrimination, Retailers

Holly Henrich

California ‘Pink Tax’ Law Prohibits Gender-Based Pricing of Consumer Products

Dear Retail Clients and Friends: Starting January 1, 2023, a new law in California will prohibit higher prices for products marketed to a particular gender. The law specifically takes aim at higher prices on products marketed…more

Artificial Intelligence, Automation Systems, Employer Liability Issues, Employment Discrimination, Hiring & Firing

John Hensler

Illinois Passes New Law to Address AI in the Workplace

Despite the rapid rise in the use of artificial intelligence (AI) in the workplace, legislation regulating employers’ use of AI remains sparse. Until recently, only New York City and Colorado had passed laws governing an…more

California, Employer Liability Issues, Employment Contract, Non-Compete Agreements, Restrictive Covenants

Todd Hentges

Reminder: California Noncompete Deadline Is February 14

Besides being Valentine’s Day, February 14, 2024 is an important day for employers with any California employees: It is the last day for employers to notify California employees (including former employees who were employed…more

Ability-to-Repay, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Cooperative Compliance Regime, Financial Regulatory Reform

Asa Herald

CFPB Finalizes Delay of Mandatory Compliance Date for General Qualified Mortgage Final Rule

On April 27, 2021, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a final rule formally delaying the mandatory compliance date for the rule defining a “qualified mortgage” (QM) (the General QM Final Rule) from…more

Acquisitions, Breach of Duty, Corporate Governance, Financial Industry Regulatory Authority (FINRA), Initial Public Offering (IPO)

Brian Herman

The Future of SPACs: Increasing Litigation and Regulation

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms” complete mergers with or acquisitions of private…more

Intellectual Property Protection, Inventions, Patent Applications, Patents, USPTO

Pablo Herrera

Practical Applications of Recent USPTO Patent Eligibility Examples

The United States Patent and Trademark Office (USPTO) has released new guidance on patent subject matter eligibility (the Guidance), with a particular focus on artificial intelligence (AI) and related technologies. As noted by…more

Artificial Intelligence, Corporate Counsel, EU, General Data Protection Regulation (GDPR), Innovative Technology

Elizabeth Herrington

EU AI Act Compliance: 10 Key Steps for Providers and Deployers of AI Systems

The European Union’s new AI Act (the Act) went into efect on 1 August 2024. The Act is the first-ever comprehensive law focused on artifcial intelligence and machine learning (collectively, AI). The Act impacts many…more

Charles Herzecke

Enforcing US Jury Judgments in France: Avoiding the Pitfall of Motivation

Obtaining the exequatur of US judgments in France can be complex, as these rulings might not include a clear statement of reasons, which is one of the conditions required by the French judge for obtaining the exequatur. French…more

Final Judgment, France, Jury Trial, Jury Verdicts

Mary Hevener

Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair…more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

Biden Administration, De Minimis Claims, Section 232, Tariffs, Trade Act of 1974

Katelyn Hilferty

Update: White House Joins in Dialogue on De Minimis Reform

The Biden administration announced on September 13, 2024 its intention to use executive authority to limit the use of the de minimis exemption and encourage Congress to take comprehensive legislative action, adding to the…more

Bankruptcy Code, CARES Act, Commercial Bankruptcy, Coronavirus/COVID-19, Debtors

Jamal Hill

Debtors Need Not Apply? Continuing Developments on the SBA’s Authority to Deny PPP Loans to Debtor Applicants

The Small Business Administration on April 24 issued an update to an interim final rule, crystalizing its view that applicants that have sought protection under the US Bankruptcy Code are not qualified borrowers under the…more

Best Practices, Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, Crisis Management, Emergency Management Plans

Tyler Hill

Face Coverings and Gloves On: New Jersey Orders New Worksite Social Distancing and Infection Control Measures

As New Jersey continues to battle the spread of coronavirus (COVID-19), Governor Phil Murphy ordered essential businesses in the state to adopt several measures including mandatory face coverings at worksites, occupancy limits…more

Consumer Protection Laws, Fraud and Abuse, Local Ordinance, Unfair or Deceptive Trade Practices

Rebecca Hillyer

Philadelphia Enacts Ordinance to Protect Residents From Unfair or Deceptive Trade Practices

Philadelphia joins other major US cities in passing a local law to address consumer fraud and abuse. With its newfound enforcement authority, the Philadelphia Law Department can investigate and initiate legal action against…more

Antitrust Provisions, Automotive Industry, Connected Cars, Corporate Sales Transactions, Driverless Cars

Florian Hinderer

Morgan Lewis Automotive & Mobility – Q1 2021

Welcome to the 27th edition of our newsletter on developments in the automotive industry published by Morgan Lewis’s automotive and mobility team with contributions from lawyers in our offices around the globe. We counsel our…more

Climate Change, Electricity, Energy Projects, Energy Sector, Greenhouse Gas Emissions

Jonathan Hines

Morgan Lewis Spark Q2 - 2021 - Russian

Morgan Lewis Spark – это ежеквартальный обзор, освещающий нововведения и изменения российского законодательства, имеющие важное значение для компаний, работающих в российских секторах энергетики и добычи полезных ископаемых. Мы…more

Business Associates, Covered Entities, Department of Health and Human Services (HHS), Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

W. Reece Hirsch

Online Tracking Technologies: Updated HIPPA Guidance Creates Uncertainty

On March 18, the US Department of Health and Human Services’ (HHS’s) Office for Civil Rights (OCR) updated its guidance regarding the use of online tracking technologies. The American Hospital Association and others filed a…more

Cyber Incident Reporting, Cybersecurity, Form 8-K, Ransomware, Securities and Exchange Commission (SEC)

Martin Hirschprung

SEC Releases Interpretations on Ransomware Attacks and Payment Disclosures

The US Securities and Exchange Commission (SEC), Division of Corporation Finance on June 24, 2024 issued five Compliance and Disclosure Interpretations (C&DIs) on its website to address questions raised by its requirement for…more

Capital Markets, Corporate Governance, HKEx, Hong Kong, Hong Kong Stock Exchange

William Ho

Hong Kong Stock Exchange Welcomes Specialist Tech Companies Under New Chapter 18C

The Hong Kong Stock Exchange (HKEx) announced on March 24, 2023 that eligible specialist technology companies (STCs) at the pre-commercial or early commercial stage can apply for listing on the HKEx under the new Chapter 18C of…more

Adam Holmes

Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

Cindy Seunghee Hong

US Supreme Court to Hear International Case Involving Alleged Price Fixing

Potentially impacting the reach of US antitrust enforcement, the Court will determine standards to apply in considering a foreign government's legal statement concerning the interpretation of its domestic law in price fixing and…more

China, Corporate Counsel, MOFCOM, Price-Fixing, SCOTUS

Terry Xu Hongli

Singapore Court of Appeal Holds Conditional Award Can Be Final Award, No Implied Reservation of Jurisdiction to Revisit

The Singapore Court of Appeal held on 2 May 2024 in Voltas Ltd v York International Pte Ltd that (1) a conditional award can be a final award; and (2) following the issuance of a final award and absent an express reservation of…more

Appeals, Arbitration, Arbitration Agreements, Arbitration Awards, Singapore

Maurice Hoo

EMEA Private Equity: A Look Ahead at 2024

The private equity industry has faced a number of challenges over the last year: we have seen interest rate rises in response to greater inflationary pressure including increasing labor, transport, and energy costs, the…more

Acquisitions, Investment, Investors, Private Equity, Private Equity Firms

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

Elizabeth Hood

Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

§315(e), Burden of Proof, Estoppel, Inter Partes Review (IPR) Proceeding, Patent Litigation

Katerina Hora

Federal Circuit Clarifies IPR Estoppel Burden

A recent Federal Circuit opinion clarified that patent owners carry the burden of proving that inter partes review (IPR) estoppel applies to invalidity grounds not included in their IPR petitions. The Federal Circuit also…more

Tadao Horibe

Japan Introduces Real Estate Legislation for National Security Purposes

The National Diet of Japan recently passed the Real Estate Investigation and Regulation Act, which is in line with tightening global trends in real estate regulations in order to prevent threats to national security. The Real…more

CFIUS, Foreign Investment, Japan, National Security, Real Estate Investments

Financial Conduct Authority (FCA), HM Treasury, Prudential Regulation Authority (PRA), Securitization, UK

Karl Horvath

New UK Securitisation Rules Published

The UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) recently published their final rules relating to securitisation. Together with certain provisions under the Securitisation Regulations 2024 (as…more

Business Closures, Coronavirus/COVID-19, Critical Infrastructure Sectors, Grocery Stores, On-Demand Services

Sheryl Horwitz

COVID-19: LA City Council Approves Ordinances on Sick Leave and Retail and Delivery Workers

The Los Angeles City Council held an emergency meeting on March 27 in response to the coronavirus (COVID-19) crisis and approved several ordinances, including one pertaining to sick leave and another relating to retail and…more

Asset Seizure, Defend Trade Secrets Act (DTSA), Economic Espionage Act, Ex Parte, Misappropriation

Corey Houmand

The Landmark Defend Trade Secrets Act of 2016

The Defend Trade Secrets Act of 2016 (DTSA) amends the Economic Espionage Act of 1996, which provides for federal criminal penalties for foreign economic espionage and trade secret theft and adds new federal civil trade secret…more

Colleges, Department of Education, Educational Institutions, Federal Funding, OCR

Catherine Houseman

US Awaits Substantial Changes to Title IX Regulations – Will They Apply to You?

Despite popular belief that Title IX applies only to higher education institutions, the regulations interpreting Title IX—and court decisions analyzing and applying those regulations—apply the statute much more broadly. This…more

Economic Substance Doctrine, Licensing Rules, Regulatory Requirements, United Arab Emirates (UAE)

Ali Houssein

Update to Economic Substance Regulations in the UAE

The United Arab Emirates (UAE) Cabinet of Ministers has recently issued updated Economic Substance Regulations which repeal and replace those previously announced. These are: the Ministry of Finance Resolution No. 57 of 2020,…more

Artificial Intelligence, Best Practices, Chief Compliance Officers, Compliance, Department of Justice (DOJ)

David Howard

How to Progress Compliance Plans from Paper to Practice

On paper, many compliance programs may seem comprehensive; however, are they effectively being moved from paper to practice? Talking the talk and walking the walk are two very different things, especially to corporate…more

Employer Liability Issues, International Labor Laws, Sexual Harassment, UK

Matthew Howse

UK Employers’ New Duty to Prevent Sexual Harassment: Are You Ready?

Employers have a new duty to take reasonable steps to prevent sexual harassment of employees in the course of their employment under the Worker Protection (Amendment of Equality Act 2010) Act 2023 (the Act). After receiving…more

Advertising, Endorsements, Fake Reviews, Federal Trade Commission (FTC), FTC Endorsement Guidelines

Alice Hrdy

FTC Issues Final Rule on Consumer Reviews and Testimonials

Earlier this month, the Federal Trade Commission (FTC or Commission) published a final rule prohibiting certain specified unfair or deceptive acts or practices involving consumer reviews and testimonials. Effective October 21,…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

Ahren Hsu-Hoffman

2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Business Interruption, Commercial General Liability Policies, Critical Infrastructure Sectors, Cyber Attacks, Cyber Insurance

Lingzi Hu

Mitigating Energy Sector Risks Through Cyberinsurance

Energy companies in the power and oil and gas sectors are leading targets of cyberattacks, as threats to critical infrastructure systems continue to rise. A 2021 report by a third-party cyberrisk company found that a quarter of…more

China, Cybersecurity, Personal Information, Proposed Regulation

Sylvia Hu

China’s Proposed Regulations on National Network Identity Authentication Public Services

The Ministry of Public Security and the Cyberspace Administration of China (CAC) on July 26, 2024 released an announcement soliciting public comments on the Draft Measures for the Administration of National Network Identity…more

Alice Huang

Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative…more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

China, Employer Liability Issues, Employment Contract, Hiring & Firing, Termination

Bill Huang

China’s Highest Court Highlights Guidance on Termination Certificate Guidelines Set by Appellate Court

The Supreme People’s Court of the People’s Republic of China (PRC) recently confirmed guidance on the contents of termination certificates, which employers in the PRC are required to issue to evidence the end of an employment…more

Corporate Counsel, Design Patent, Indefiniteness, Patent Applications, Patent Trial and Appeal Board

Donald Huddler

Federal Circuit: 2D Depiction of 3D Article Can Satisfy Written Description in a Design Patent

The recent ruling in In re Maatita means that a two-dimensional drawing of a three-dimensional object may meet the enablement and definiteness requirements for a design patent…more

Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances, Public Health, Risk Assessment

Jamie Huffman

EPA Releases Final Risk Evaluation for 1,4-Dioxane

The US Environmental Protection Agency’s controversial final risk evaluation for 1,4-dioxane found unreasonable risks to workers and occupational non-users for 13 out of 24 use conditions, but no unreasonable risks to the…more

Jarrod Huffman

Tax Reform Legislation Addresses UBIT and Segregation of UBTI Investments

Adopting the Senate’s approach, tax reform legislation will not require governmental pension plans to be subject to unrelated business income tax, and tax-exempt entities subject to tax on unrelated business taxable income will…more

Business Taxes, Tax Exempt Entities, Tax Reform, UBIT

Biden Administration, Department of Energy (DOE), Energy Policy, Energy Reform, Environmental Liability

Steven Hunchuck

Department of Energy Predicts Substantial Impact From Fracking Ban

The US Department of Energy submitted a report to the president last month on “Economic and National Security Impacts under a Hydraulic Fracturing Ban.” This 80-page report analyzed the effects of a hypothetical United States…more

Centers for Medicare & Medicaid Services (CMS), Disclosure Requirements, Health Care Providers, Inflation Reduction Act (IRA), Medicare Part D

Robert Hunter

CMS Disclosures Due October 15: Is Your Plan’s Rx Coverage Still Creditable?

The Inflation Reduction Act (IRA) made several changes to Medicare Part D that may impact whether employer-sponsored coverage will be creditable for the 2025 plan year. With open enrollment season about to begin, plan sponsors…more

Form N-CEN, Form N-PORT, Investment Companies, Investment Company Act of 1940, Liquidity

Barry Hurwitz

SEC Amends Registered Fund Reporting Requirements, Issues Guidance on Liquidity Risk Management Programs

The US Securities and Exchange Commission (SEC), by a 3-2 vote, recently adopted amendments to registered fund reporting requirements on Form N-PORT and Form N-CEN and provided guidance on open-end funds’ liquidity risk…more

Board of Directors, CEOs, Corporate Governance, Independent Director, Listing Rules

Eric Hwang

SGX RegCo Proposes Independent Director Tenure Limits, Director and CEO Pay Disclosure

The Singapore Exchange Regulation (SGX RegCo) published a public consultation paper proposing to amend the Listing Rules to impose a hard nine-year limit on the tenure of independent directors, removing the current two-tier…more

Masaki Ichimura

Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true…more

Investment, Investors, Japan, Limited Partnerships, Partnerships

Board of Directors, Corporate Governance, Minority Shareholders, Russia, Shareholders

Andrey Ignatenko

Update: New Decree Allows Certain Russian Companies to Remove Voting Rights of Minority Shareholders and Directors from Unfriendly States

Russian President Vladimir Putin adopted Decree No. 16 on January 17, allowing Russian companies to change their corporate decision-making so that minority shareholders from the so-called “unfriendly states” (or those controlled…more

Acquisitions, Antitrust Provisions, Cartels, Competition, Competition Authorities

Leonard Impagliazzo Iv

Global Cartel Enforcement Report 2023

In 2023, cartel fines in key jurisdictions increased by 7.7%—totaling $1.4 billion—compared to 2022. While the totals remain significantly below the peaks seen in the mid-2010s, 2023 saw record fines imposed in several…more

Investment, Investment Adviser, Investment Opportunities, Investors, Securities and Exchange Commission (SEC)

Tomer Inbar

Family Offices Investing in Impact

Family offices are increasingly seeking to use their assets to achieve financial returns and build a legacy that aligns with their deeply held values. Traditional approaches to philanthropy have been used for generations by…more

Administrative Law Judge (ALJ), Broker-Dealer, CFTC, Cybersecurity, Disgorgement

Ben Indek

Current Developments in Sec and Finra Examinations & Enforcement 2022–2023 - A Special Report for Investment Advisers and Broker-Dealers

Registered entities continued to be a significant focus of the US Securities and Exchange Commission’s (SEC’s or Commission’s) enforcement and rulemaking programs in 2022, and we expect similar attention this year. The SEC’s…more

Narumi Ito

Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true…more

Investment, Investors, Japan, Limited Partnerships, Partnerships

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions, Individual Retirement Account (IRA)

Lindsay Jackson

DOL QPAM Notification Deadline of September 15 Fast Approaching

The amendments to the QPAM Exemption include a September 15, 2024 notification deadline that will apply to many asset managers. This blog post includes a brief summary of the US Department of Labor’s (DOL’s) recent technical…more

Certiorari, False Claims Act (FCA), Federal Contractors, Implied Certification, Qui Tam

Evan Jacobs

US Supreme Court to Decide Fate of FCA’s Implied Certification Theory

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

Compensation Committee, Coronavirus/COVID-19, Executive Compensation, Publicly-Traded Companies

Zachary Jacobson

The COVID-19 Test for Compensation Committees

Compensation Committees are addressing whether compensation should be adjusted to reflect the effect of the coronavirus (COVID-19) pandemic on companies’ businesses and how to correlate executive compensation with changing…more

Enforcement Actions, False Statements, Investment Adviser, Misleading Statements, Securities and Exchange Commission (SEC)

Julia Jacovides

SEC Charges Investment Advisers with Making False and Misleading Statements About Their Use of AI

On March 18, the US Securities and Exchange Commission (SEC) announced the first AI-related settled actions against two investment advisers—Delphia (USA) Inc. and Global Predictions Inc.—for making false and misleading…more

Critical Infrastructure Sectors, Cyber Attacks, Cyber Threats, Cybersecurity

Robert Jacques

The National Cybersecurity Strategy: A Guide for Critical Infrastructure Owners and Operators

Protecting critical infrastructure has become a national security priority. On March 2, 2023, the Biden administration released the National Cybersecurity Strategy, a far-reaching document that sets forth its vision for the…more

Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

Spenser Jaenichen

EPA Finalizes New Enforceable National Drinking Water Regulation

On April 10, 2024, the US Environmental Protection Agency (EPA) finalized its highly anticipated new rule aimed at reducing the level of certain per- and polyfluoroalkyl substances (PFAS) in drinking water. The final rule is not…more

Corporate Crimes, Corporate Entities, Corporate Transparency Act, Financial Crimes, Fraud

Erica Jaffe

New UK Corporate Offence: The ‘Failure to Prevent Fraud’

The recent passage of the Economic Crime and Corporate Transparency Act 2023 marked a significant moment in the UK government’s commitment to improving its economic crime legislative framework with the aim to deter and further…more

Collie James, IV

New Modifications to the Proposition 65 Regulations

The modifications significantly change both the AG’s Regulations and OEHHA’s Clear and Reasonable Warnings provisions. California’s Office of Administrative Law recently approved important changes to two sets of Proposition 65…more

Amended Regulation, Manufacturers, OEHHA, Proposition 65, Retailers

Investment, Investors, Private Equity, Private Equity Firms, Private Equity Funds

Nida Javaid

Revisiting Post-Closing Management Incentives in Challenging Climates

When private equity investment transactions close, management and private equity investors are off to the races—generally aligned on strategic and financial objectives. However, as market conditions and the economic climate…more

Dr. Jann Jetter

Government Draft of Annual Tax Act 2024 Adopted

The Federal Cabinet adopted the government draft of an Annual Tax Act 2024 (JStG 2024) on June 5, 2024. The government draft largely corresponds to the draft bill of May 17, 2024 and contains a large number of very different…more

Germany, Income Taxes, International Tax Issues, Investment, Tax Liability

Audrey Jeung

SEC and CFTC Adopt Amendments to Form PF

On February 8, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC and, together with the SEC, the Commissions) voted to adopt amendments to Form PF1 that will impact the required…more

CFTC, Form PF, Investment Adviser, Investors, Private Equity

Anti-Kickback Statute, Department of Health and Human Services (HHS), Health Care Providers, OIG, Physicians

Yunica Jiang

OIG Releases New ‘One-Stop Shop’ General Compliance Program Guidance

The US Department of Health and Human Services Office of Inspector General (OIG) released on November 6 its General Compliance Program Guidance (GCPG), a helpful new resource for the healthcare industry that consolidates…more

Delisting, Nasdaq, Noncompliance, Securities and Exchange Commission (SEC)

Xingye (Aiden) Jin

Nasdaq Proposes Stricter Delisting Rules for Noncompliance with Minimum Bid Price Requirement

The Nasdaq Stock Market LLC (Nasdaq) recently filed with the Securities and Exchange Commission (SEC) the proposed amendments to its rules regarding the delisting of penny stocks (i.e., shares with bid price below $1.00), aiming…more

Acquisitions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act, Mergers

Zachary Johns

Growing Number of US States Target Private Equity Transactions in Healthcare

Driven by a growing wave of enforcer skepticism toward further healthcare consolidation, some state legislatures have begun to propose “mini-HSR” laws explicitly targeting healthcare transactions involving private equity firms…more

Critical Infrastructure Sectors, E-Scooters, Educational Institutions, Green Transportation, Innovative Technology

Brittany Johnson

State and Local Survey of Laws Regulating Escooter Sharing Services

The growth and use of electric scooters (escooters) for personal transportation has exploded over the last several years. Much of this growth has been driven by escooter sharing companies, which, rather than pursuing a model of…more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds

Ethan Johnson

Fifth Circuit Vacates SEC Private Fund Adviser Rules in Full

In a unanimous decision published on June 5, 2024, the US Court of Appeals for the Fifth Circuit vacated the entire set of regulations, including amendments to existing rules (collectively, the Rules), adopted by the US…more

Ability-to-Repay, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Regulatory Reform, Financial Services Industry

Jeffrey Johnson

CFPB Finalizes Qualified Mortgage Changes

The Consumer Financial Protection Bureau (Bureau or CFPB) issued two final rules on December 10 with significant implications for the mortgage marketplace. Of the two final rules from the Bureau, one drastically simplifies the…more

Steven Johnson

Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair…more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

Dress Codes, Employer Liability Issues, Employment Discrimination, Employment Policies, Hairstyle Discrimination

Terry Johnson

New Jersey Declares Hair Discrimination Unlawful

New Jersey Governor Phil Murphy recently signed legislation under the New Jersey Law Against Discrimination expanding the definition of “race” to cover “traits historically associated with race,” including hair texture, hair…more

Investment, Investment Adviser, Investment Opportunities, Investors, Securities and Exchange Commission (SEC)

Zeke Johnson

Family Offices Investing in Impact

Family offices are increasingly seeking to use their assets to achieve financial returns and build a legacy that aligns with their deeply held values. Traditional approaches to philanthropy have been used for generations by…more

Harry Johnson, III

NLRB Issues New Joint Employer Rule Affirming Expansive Joint Employer Status

The NLRB recently published its final rule on the standard for determining joint employer status, broadening the circumstances under which separate businesses can be considered joint employers—thereby making them obligated to…more

Employer Liability Issues, Franchisee, Franchisors, Joint Employers, NLRB

Bruce Johnston

Update: ‘Control’ for UK Sanctions Addressed in Hellard Case

Asset freeze measures enacted by the United Kingdom against designated persons (DPs) can, under certain circumstances, extend to entities “owned or controlled” by DPs. To date, there have been few—and at times partly…more

Corporate Entities, Corporate Governance, Corporate Transparency Act, Financial Crimes, UK

Jasmine Jones

UK Economic Crime and Corporate Transparency Act: Initial Changes to Roll Out in March 2024

Following government guidance that updates to UK Companies Registries brought about by the Economic Crime and Corporate Transparency Act 2023 (ECCTA) would start to come into force over the course of 2024, the Companies House…more

Disclosure Requirements, Enforcement Actions, Securities and Exchange Commission (SEC), Securities Regulation, Securities Violations

Micah Jones

Securities Enforcement Roundup – August 2024

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from August 2024. In August 2024: The SEC announced its latest round of “off-channel communications”…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

Michael Jones

Texas Federal Court ‘Sets Aside’ FTC’s Noncompete Clause Rule

Judge Ada Brown of the US District Court for the Northern District of Texas entered a final judgment in Ryan LLC v. Federal Trade Commission (FTC) on August 20, 2024, holding unlawful and setting aside the FTC Noncompete Clause…more

Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

Drew Cleary Jordan

EPA Finalizes New Enforceable National Drinking Water Regulation

On April 10, 2024, the US Environmental Protection Agency (EPA) finalized its highly anticipated new rule aimed at reducing the level of certain per- and polyfluoroalkyl substances (PFAS) in drinking water. The final rule is not…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions

Emily Jordan

DOL Publishes QPAM Exemption Amendments: Action Items and Considerations for QPAMS, Plan Sponsors

The US Department of Labor (DOL) published final amendments to Prohibited Transaction Class Exemption 84-14, the so-called “QPAM Exemption,” in the Federal Register on April 3, 2024. The amendments are anticipated to affect…more

Climate Change, Greenhouse Gas Emissions, Renewable Energy, Saudi Arabia, UNFCCC

Jennifer Josefson

Preparing for UAE Cop 28: Gulf Countries’ Net-zero and Climate Action Roadmaps

At the end of 2023, the United Arab Emirates (UAE) will host the Conference of the Parties (COP), the decision-making body responsible for monitoring and reviewing the implementation of the United Nations Framework Convention on…more

Americans with Disabilities Act (ADA), Diversity Jurisdiction, Forum Shopping, Principal Place of Business, Public Accommodation

Beth Joseph

California Appellate Court Holds Web Access Claims Against Web-Only Businesses Fail Under ADA and Unruh Act

The California Court of Appeal, Second Appellate District, issued a decision on August 1 holding that websites without any connection to physical place of business are not “places of public accommodation” under Title III of the…more

Matthew Joseph

Supreme Court Denies Certiorari Petition in Madden Case

Although it is reasonably unlikely that other circuit courts will follow the Second Circuit decision, it is uncertain whether application of the Madden case in the Second Circuit will be confined to its facts…more

Appeals, Banking Sector, Choice-of-Law, Credit Cards, Debt Buyers

Amended Rules, Final Rules, Money Market Funds, Reporting Requirements, Securities and Exchange Commission (SEC)

Roger Joseph

SEC Adopts Further Money Market Fund Reforms

The US Securities and Exchange Commission (Commission) adopted amendments to the rule governing money market funds on July 12, 2023 in an attempt to address concerns about institutional prime and institutional tax-exempt (i.e.,…more

Ajinkya Joshi

The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

Copyright, Copyright Infringement, Copyright Litigation, Damages, Music Industry

Matthew Julyan

Supreme Court Declines to Limit Copyright Damages to Three-Year Look Back

The US Supreme Court ruled that if a copyright claim is timely, all damages may be recovered and there is no separate three-year limitation to recovery. The case involved the so-called "discovery rule" that allows a claim to be…more

Environmental Protection Agency (EPA), Groundwater, Insurance Industry, Water

Sandra Kaczmarczyk

Electric Utilities Affected by Recent EPA Regulation May Benefit from Legacy Liability Insurance Policies

The US Environmental Protection Agency (EPA) on May 8, 2024 expanded the obligations of coal-fired power plants to remediate coal ash-related groundwater impacts with amendments to the federal Coal Combustion Residual (CCR)…more

Artificial Intelligence, Automation Systems, Employer Liability Issues, Employment Discrimination, Hiring & Firing

Daniel Kadish

Illinois Passes New Law to Address AI in the Workplace

Despite the rapid rise in the use of artificial intelligence (AI) in the workplace, legislation regulating employers’ use of AI remains sparse. Until recently, only New York City and Colorado had passed laws governing an…more

Kazakhstan, Manufacturers, Trade Relations

Bakhytzhan Kadyrov

Kazakhstan Government Introduces Changes to the Calculation of the Share of Domestic Value in a Product

This LawFlash summarizes key takeaways from the recent amendments by the Kazakhstan government to the formula for calculation of the share of domestic value in a product…more

Business Losses, Commercial Bankruptcy, Coronavirus/COVID-19, Financial Distress, Net Operating Losses

Kenneth Kail

Beware of Debtor Tax Traps in Restructuring and Bankruptcy

The economic outcome from the coronavirus (COVID-19) pandemic is still uncertain but is likely to remain catastrophic in many respects. Of late popular name brands and companies have filed for bankruptcy as stay-at-home orders…more

Theresa Kalathil

Competition Commission of India Provides Updated Deal Value Threshold

Revising the merger control regime in India, the Ministry of Corporate Affairs on September 10 implemented certain provisions of the Competition Act, 2002 and Competition (Amendment) Act, 2023, and the Competition Commission of…more

Competition, Competition Authorities, India, Mergers

Disability, Employer Liability Issues, Labor Code, Wage and Hour

Jasmine Kaliyeva

Observance of Rights of Persons with Disabilities by Legal Entities in Accordance with the Laws of the Republic of Kazakhstan

The work on creating equal opportunities for persons with disabilities is underway at the legislative level in Kazakhstan, including the development of the draft law On Amending Certain Legislative Acts of the Republic of…more

Employee Benefits, Individual Retirement Account (IRA), Retirement, Retirement Plan, SECURE Act

Naina Kamath

SECURE 2.0 Simplifies Corporate Transactions with Mid-Year Termination Rules for SIMPLE IRA Plans

In connection with a merger, acquisition, or other corporate (M&A) transaction, buyers often face the dilemma of how to handle the seller’s existing retirement plans covering the continuing employees. Terminating a seller’s…more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

Vineeta Prakash Kamath

2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,…more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

Olga Kamensky

2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,…more

Seyfi Can Kandemir

The Rise of Energy Storage

Energy storage: the technology that will cash the checks written by the renewable energy industry. Energy storage can transform intermittent clean energy—primarily derived from wind and solar—into a reliable source of 24/7…more

Batteries, Clean Energy, Electricity, Energy Projects, Energy Sector

Jane Kang

The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

Acquisitions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act, Mergers

Ryan Kantor

Growing Number of US States Target Private Equity Transactions in Healthcare

Driven by a growing wave of enforcer skepticism toward further healthcare consolidation, some state legislatures have begun to propose “mini-HSR” laws explicitly targeting healthcare transactions involving private equity firms…more

Amended Rules, Investment Companies, Investment Company Act of 1940, Securities and Exchange Commission (SEC)

Jeremy Kantrowitz

Names Rule Amendments Will Require Changes For Certain Funds

On September 20, 2023, in a 4-1 vote, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to the rule governing fund names, which impose new disclosure, compliance, reporting, and recordkeeping…more

Centers for Medicare & Medicaid Services (CMS), Final Rules, Health Care Providers, Long Term Care Facilities, Long-Term Care

Kayla Stachniak Kaplan

CMS Publishes Final Rule for Minimum Staffing Standards for Long-Term Care Facilities

The Centers for Medicare & Medicaid Services (CMS) published its Final Rule today to implement a minimum staffing “floor” for nursing homes in the United States, as first announced on April 22. The Final Rule, which as proposed…more

Aviation Industry, CERCLA, Clean-Up Costs, Contaminated Properties, Environmental Protection Agency (EPA)

Ariel Kapoano

Oil Companies Must Pay Nearly $50M to United States for WWII Environmental Pollution Cleanup

The US District Court for the Central District of California issued an opinion on December 10 in the decades-long fight between the US Environmental Protection Agency and several oil companies over payment of the United States’…more

Rahul Kapoor

Competition Commission of India Provides Updated Deal Value Threshold

Revising the merger control regime in India, the Ministry of Corporate Affairs on September 10 implemented certain provisions of the Competition Act, 2002 and Competition (Amendment) Act, 2023, and the Competition Commission of…more

Competition, Competition Authorities, India, Mergers

Scott Karchmer

Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational…more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Aliza Karetnick

Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative…more

Civil Rights Act, De Minimus Doctrine, Employer Liability Issues, Equal Employment Opportunity Commission (EEOC), Groff v DeJoy

Tova Katims

Religious Accommodations: Us Supreme Court Heightens Undue Hardship Standard

The US Supreme Court issued a unanimous decision on June 29, 2023 in Groff v. DeJoy, revising the standard for undue hardship in the context of religious discrimination claims brought under Title VII. The Court held that an…more

Algorithmic Trading, CFTC, Department of Justice (DOJ), Disruptive Trading Practices, Enforcement Actions

Dina Kaufman

Prosecutors Record First-Ever Conviction for ‘Spoofing’: A New Era of Trading Enforcement

Asset managers and other traders should expect aggressive anti-spoofing enforcement and consider reviewing their trading practices in light of this most recent development. On November 3, 2015, a federal jury in Chicago,…more

Advertising, Endorsements, Fake Reviews, Federal Trade Commission (FTC), FTC Endorsement Guidelines

Noah Kaufman

FTC Issues Final Rule on Consumer Reviews and Testimonials

Earlier this month, the Federal Trade Commission (FTC or Commission) published a final rule prohibiting certain specified unfair or deceptive acts or practices involving consumer reviews and testimonials. Effective October 21,…more

Background Checks, Criminal Background Checks, Criminal Records, Employer Liability Issues, Fair Chance Act

Chloe Keating Leigh

LA County Passes Fair Chance Ordinance on Employer Consideration of Criminal History

The County of Los Angeles has announced a new Fair Chance Ordinance, taking effect on September 3, 2024, that will regulate the consideration of criminal history information by employers with five or more employees in…more

Gerald Kehoe

Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative…more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Bryan Keighery

Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative…more

Board of Directors, Corporate Governance, Diversity, Diversity and Inclusion Standards (D&I), Gender Equity

Thomas Kellerman

California Expands Diversity Requirements for Public Company Boards

California Governor Gavin Newsom on September 30 signed into law Assembly Bill No. 979, which requires publicly held companies headquartered in California to have a minimum number of directors from “underrepresented…more

Breach of Duty, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Retirement

Amy Pocino Kelly

Stick to the (ERISA) Plan

The backbone of a fiduciary’s duties is the written plan document: understanding the key terms and adhering to them provides a bulwark against fiduciary breach. ERISA Sections 402(a)(1) and 404(a)(1)(d) require that every…more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds

Michael Kenneally

Fifth Circuit Vacates SEC Private Fund Adviser Rules in Full

In a unanimous decision published on June 5, 2024, the US Court of Appeals for the Fifth Circuit vacated the entire set of regulations, including amendments to existing rules (collectively, the Rules), adopted by the US…more

Elizabeth Kennedy

IRS Proposes Long-Term, Part-Time Employee Regulations

On November 24, 2023, the Internal Revenue Service (IRS) proposed long-awaited regulations providing guidance on the required coverage of long-term, part-time employees (LTPTEs) under the Setting Every Community Up for…more

401k, Employee Benefits, Employer Liability Issues, Full-Time Employees, IRS

Automotive Industry, Biden Administration, Clean Energy, Compliance, Department of Justice (DOJ)

Howard Kenny

2021 Year in Review: Automotive Industry

In 2021, the automotive industry was awash in change— driven by investment trends, new goals set by the Biden-Harris administration, and international electric vehicle–focused developments. Looking back, 2021 will be viewed as a…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Meaghan Kent

Impact on IP Law in the Wake of US Supreme Court’s Decision

The US Supreme Court’s June 28, 2024 decision in Loper Bright Enterprises v. Raimondo and Relentless Inc. v. Department of Commerce overruled the forty-year-old Chevron U.S.A. Inc. v. Natural Resources Defense Council Inc…more

Kendall Keshtkar

Treasury and the IRS Finalize Section 897 ‘Domestically Controlled’ Look-Through Rule

On April 24, the Internal Revenue Service (IRS) issued final regulations (Final Regulations) regarding Section 897. In December 2022, the IRS issued proposed regulations under Sections 897 (the Proposed Regulations) and 892 of…more

Income Taxes, Internal Revenue Code (IRC), IRS, Tax Planning, U.S. Treasury

Affordable Housing, Low Income Housing, Low-Income Issues, Rental Property, Tax Credits

Kathleen Keyser

US Senators and Representatives Propose Bipartisan Workforce Housing Tax Credit Act

In response to a shortage of affordable middle-income housing in the United States, legislators recently introduced the Workforce Housing Tax Credit Act, which includes significant financial incentives for developers, to help…more

Emma Khairallah

The Road Ahead: DFSA Seeks Market Feedback on the DIFC Credit Fund Regime

The Dubai Financial Services Authority (DFSA) has issued a consultation paper (CP 158) relating to proposed amendments to its Collective Investment Rules (CIR), which includes one proposed change in relation to credit funds, and…more

DFSA, DIFC, Dubai, Financial Services Industry, Investment Funds

Ayman Khaleq

The Road Ahead: DFSA Seeks Market Feedback on the DIFC Credit Fund Regime

The Dubai Financial Services Authority (DFSA) has issued a consultation paper (CP 158) relating to proposed amendments to its Collective Investment Rules (CIR), which includes one proposed change in relation to credit funds, and…more

DFSA, DIFC, Dubai, Financial Services Industry, Investment Funds

Acquisitions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act, Mergers

Surya Khanna

Growing Number of US States Target Private Equity Transactions in Healthcare

Driven by a growing wave of enforcer skepticism toward further healthcare consolidation, some state legislatures have begun to propose “mini-HSR” laws explicitly targeting healthcare transactions involving private equity firms…more

Arbitration, Arbitration Awards, Energy Projects, International Arbitration, LCIA

Pardeep Khosa

International Arbitration: Updates in Asia

With changes in global markets, the international arbitration landscape in Asia has notably shifted over the last few years. This article explores the impacts of volatility in today’s energy markets, related contractual issues,…more

DIFC, Dubai, Gulf Cooperation Council (GCC), United Arab Emirates (UAE)

Joanna Maria El Khoury

The New DIFC Prescribed Company Regulations 2024

The DIFC Prescribed Company Regulations 2024 (New PC Regulations) were enacted on July 15, 2024. Replacing the former PC Regulations 2019 (and the 2020 and 2022 amendments thereto), the New PC Regulations aim to streamline and…more

Brendan Killeen

OSHA, Employment, and Antitrust: New Compliance Strategies for Grocery Industry Companies

Recent labor law, workplace safety regulation, and antitrust enforcement developments are creating an increasingly complex regulatory landscape for grocery industry employers. Companies must navigate an array of compliance…more

Fair Workweek, OSHA, Wage and Hour, Work Schedules, Workplace Safety

Certiorari, Environmental Impact Statements, Environmental Review, NEPA, Permits

Bryan Killian

US Supreme Court Grants Petition of Certiorari on Scope of NEPA Review

The US Supreme Court granted a petition of certiorari in Seven County Infrastructure v. Eagle County, Colorado, which concerns the scope of review under the National Environmental Policy Act (NEPA). Granting certiorari allows…more

EU, European Patent Office, Intellectual Property Protection, Member State, Patents

Jeffrey Killian, Ph.d.

European Unitary Patent and Unified Patent Court: Delayed but Still Arriving in 2023

The European (EP) patent landscape will shift in 2023 with the launch of the unitary patent system, consisting of unitary patents and a Unitary Patent Court. All current EP patent right holders now have a decision with regard to…more

Employer Liability Issues, Employment Contract, Healthcare Workers, Non-Compete Agreements, Restrictive Covenants

Eric Kim

Pennsylvania Restricts Employee Noncompete Agreements for Health Care Workers

The Commonwealth of Pennsylvania has enacted its Fair Contracting for Health Care Practitioners Act, which will prohibit employers from enforcing employment noncompete clauses for medical professionals with limited exceptions…more

Constitutional Challenges, Out-of-State Companies, Retailers, SCOTUS, Twenty-First Amendment

Su Jin Kim

US Supreme Court to Weigh In on Tennessee’s Durational Residency Requirements for Wine Retailers

The US Supreme Court is expected to rule this summer in Tennessee Wine & Spirit Retailers Ass’n v. Blair, which marks the first time in 14 years that the Court has taken up a case involving the wine industry. One hundred years…more

American Rescue Plan Act of 2021, Employee Benefits, Final Rules, Financial Assistance Policies, Multiemployer Plan

James Kimble

PBGC Issues Final Regulation on Multiemployer Pension Plan Special Financial Assistance

The Pension Benefit Guaranty Corporation has issued a Final Rule implementing the special financial assistance provisions of the American Rescue Plan Act to help financially troubled multiemployer pension plans. The Final Rule…more

Biologics, Biosimilars, BPCIA, Food and Drug Administration (FDA), Patent Infringement

Maarika Kimbrell

Blockbuster Biologics - Review Issue 24

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to…more

Belarus, Bureau of Industry and Security (BIS), Economic Sanctions, Executive Orders, Export Controls

Emily Kimmelman

US Announces New Restrictions on Export of Luxury Goods to Russia

Dear Retail Clients and Friends, President Joseph Biden issued Executive Order 14068 on March 11 expanding prohibitions on trade with Russia and announcing new restrictions on Russian imports, exports, and investments—including…more

William Kissinger

The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

Breach of Contract, Contract Terms, Counterparties, Licenses

A. Benjamin Klaber

Keeping Options Open When Going Exclusive

When a contracting party decides that the counterparty is worth an exclusive commitment, such a decision often rests on some minimum expectations and basic assumptions. But, in light of Murphy’s law, it may be worthwhile to put…more

Acquisition Agreements, Energy Storage, Infrastructure, Merger Agreements, Oil & Gas

John Klauberg

Navigating Trends and Pitfalls in Power and Utilities M&A Transactions

For businesses in the highly regulated areas of electric, gas, and water, and businesses in the wholesale electric generation space, there are many key considerations to keep in mind when pursuing an M&A transaction…more

Environmental Protection Agency (EPA), Food and Drug Administration (FDA), PFAS, Plastics

Matthew Klayman

From Particles to Policy: Microplastics at the Crossroads of Regulation and Litigation

Rising alarm over microplastics as pollutants has sparked significant attention, stirring public concern and regulatory scrutiny. While there is both a lack of standardized methods for measuring microplastics and no scientific…more

Department of Labor (DOL), Fiduciary Duty, Initial Public Offering (IPO), Investors, Popular

Daniel Kleinman

DOL Removes Restrictions on Recommendations of Principal Traded Assets from Prohibited Transaction Exemption 2020-02

The US Department of Labor (DOL) amended Prohibited Transaction Exemption 2020-02 (PTE 2020-02) to provide relief for recommendations of all types of principal trades. This change, effective September 23, 2024 and subject to all…more

AMG Capital Management LLC v FTC, Enforcement Authority, Federal Trade Commission (FTC), FTC Act, FTCA Section 13(b)

Kenneth Kliebard

US Supreme Court: FTC Cannot Seek Equitable Monetary Relief in Section 13(b) Cases

In a unanimous 9-0 decision authored by Justice Breyer, the US Supreme Court has held that the Federal Trade Commission (FTC) lacks the authority to seek equitable monetary relief in cases brought in federal court under FTC Act…more

Colleges, Department of Education, Educational Institutions, Federal Funding, OCR

Ali Kliment

US Awaits Substantial Changes to Title IX Regulations – Will They Apply to You?

Despite popular belief that Title IX applies only to higher education institutions, the regulations interpreting Title IX—and court decisions analyzing and applying those regulations—apply the statute much more broadly. This…more

Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), ESOP, Indemnification, Legal Costs

John Kober

Court Upholds Validity of ERISA Fiduciary Indemnification

Ruling rejects DOL challenge of an agreement by a 100% ESOP-owned company to advance defense costs and indemnify a trustee…more

Konstantin Kochetkov

Update: ‘Control’ for UK Sanctions Addressed in Hellard Case

Asset freeze measures enacted by the United Kingdom against designated persons (DPs) can, under certain circumstances, extend to entities “owned or controlled” by DPs. To date, there have been few—and at times partly…more

Marina Kofsman

Private Funds 2023: The Year in Brief

2023 was a watershed year for the private fund industry, not only because the US Securities and Exchange Commission (SEC) adopted a package of new regulations that will substantially alter the private fund landscape (subject to…more

Broker-Dealer, Form PF, Investment Adviser, Investors, Private Funds

Department of Defense (DOD), Federal Acquisition Regulations (FAR), Federal Contractors, Fixed Price Contracts, Guidance Update

Clara Kollm

Updated DoD Guidance on Economic Price Adjustments and Inflation Revives Seldom-Used Public Law

The US Department of Defense issued a memorandum this month refining its guidance on inflation-related economic price adjustments for contractors with existing firm-fixed-price contracts. The updated guidance provides new hope…more

Cancer, Commercial Insurance Policies, Duty to Defend, Food and Drug Administration (FDA), Food Labeling

Gerald Konkel

Legal Considerations for WHO’s ‘Possibly Carcinogenic’ Aspartame Classification

On July 14, 2023, the World Health Organization (WHO) published a summary of two findings regarding aspartame, an artificial sweetener found in many consumer products. One finding categorized aspartame as “possibly…more

Anna Kornilova

Kazakhstan Adopts Law Introducing Changes to Antimonopoly Regulations

On 6 April 2024, Kazakhstan adopted a law that will amend and supplement certain legislative acts on doing business (the Law). The Law amends a number of fundamental national legislative acts, including the Land Code, the…more

Anti-Monopoly, Competition, Kazakhstan, Monopolization

Ulrich Korth

EMEA Private Equity: A Look Ahead at 2024

The private equity industry has faced a number of challenges over the last year: we have seen interest rate rises in response to greater inflationary pressure including increasing labor, transport, and energy costs, the…more

Acquisitions, Investment, Investors, Private Equity, Private Equity Firms

Artificial Intelligence, Authorship, Computer-Related Inventions, Copyright, European Patent Office

Alexandra Koseva

Copyright, Patent, or Trade Secret Protection for AI Content: Challenges and Considerations

From creative endeavors like art and music to practical applications like translation and weather forecasting, artificial intelligence (AI) is producing more and more content and being used by inventors. Given the nuances in how…more

Christian Kozlowski

Treasury Proposes Rule to Expand CFIUS’s Real Estate Jurisdiction

The US Department of the Treasury on July 8, 2024 proposed updates to the Committee on Foreign Investment in the United States’s (CFIUS’s) regulations that seek to expand the list of military installations for which proximity…more

CFIUS, Cross-Border Transactions, FIRRMA, Foreign Investment, Investors

Dr. Manuela Krach

A Practical Guide to Aircraft Engine RPFH Agreements

For the ever-evolving aviation industry, the traditional time and material–based contracts between airlines and original equipment manufacturers (OEMs) for the maintenance of aircraft engines may not always be the most practical…more

Aircraft, Airlines, Aviation Industry, Maintenance, Transportation Industry

Banking Sector, Banks, EU, European Banking Authority (EBA), Financial Institutions

Theresa Kradjian

Multijurisdictional Securitization in the Age of the New EU Securitization Rules

It can be difficult to structure securitization transactions that comply with both the US and EU regulatory regimes, a task made even more complicated by the new EU rules that came into effect on January 1, 2019. While the…more

Dr. Anne Kristin Krafft

Seller Has Increased Duty of Care in Case of a Virtual Provision of Information During Due Diligence Process

In its verdict of September 15, 2023 (case reference V ZR 77/22), the German Federal Court of Justice (BGH) increased the requirements to be placed on a seller in the context of due diligence. The court determines under which…more

Due Diligence, Duty of Care, Duty to Disclose, Sellers

Employer Liability Issues, Fair Labor Standards Act (FLSA), Non-Exempt Employees, Over-Time, PA Supreme Court

Shelby Krafka

Pennsylvania Amends Overtime Rate Calculations for Salaried, Nonexempt Employees

Pennsylvania employers with salaried, nonexempt employees working in the commonwealth may need to adjust how they calculate overtime premiums for these employees in light of amendments to the Pennsylvania Minimum Wage Act that…more

Cal-OSHA, COBRA, Coronavirus/COVID-19, Employer Liability Issues, Employer Responsibilities

Liliya Kramer

What the End of COVID-19 Emergency Declarations Means for Employers

President Biden signed into law a House bill on April 10 that immediately ended the COVID-19 presidential declaration of national emergency established in March 2020. The COVID-19 federal public health emergency—a separate…more

Ability-to-Repay, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Regulatory Reform, Financial Services Industry

Keith Krasney

CFPB Finalizes Qualified Mortgage Changes

The Consumer Financial Protection Bureau (Bureau or CFPB) issued two final rules on December 10 with significant implications for the mortgage marketplace. Of the two final rules from the Bureau, one drastically simplifies the…more

Michael Kraut

Appellate Court Holds Servicers Can Set Aside Litigation Reserves

The Minnesota Court of Appeals affirmed in a recent case that the securitization agreements at issue authorized the creation of reserves to ensure that the securitization trust could meet its contractual obligation to indemnify…more

Appeals, Indemnification, Investors, Securitization

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions, Individual Retirement Account (IRA)

Marla Kreindler

DOL QPAM Notification Deadline of September 15 Fast Approaching

The amendments to the QPAM Exemption include a September 15, 2024 notification deadline that will apply to many asset managers. This blog post includes a brief summary of the US Department of Labor’s (DOL’s) recent technical…more

Broker-Dealer, Financial Industry Regulatory Authority (FINRA), Investment Adviser, Securities and Exchange Commission (SEC)

Amy Natterson Kroll

SEC Stays Approval of Amendment to FINRA Rule 2210 That Would Allow Projections of Performance

In an unusual move, on July 26, 2024, the Securities and Exchange Commission (SEC) stayed an order that was previously issued by its own Division of Trading and Markets just one week earlier on July 19, 2024. That order approved…more

Lutz Hans Krosien

German Federal Court of Justice Strengthens Minimum Offer Price Rules Under German Securities Acquisitions and Takeover Act - Legal Insights Germany

The German Federal Court of Justice (FCJ), in two recent judgments (case numbers II ZR 219/21 and II ZR 220/21), awarded former shareholders of a target company that accepted a takeover offer payment claims for the difference…more

Acquisitions, Capital Markets, Germany, Shareholders

Sarah-Loreen Krüger

Recent Developments of the New German Supply Chain Act

Addressees of the German Act on Corporate Due Diligence Obligations in Supply Chains should note some new developments, including the first complaints filed under the act, guidance on small- and mid-sized enterprises as…more

Due Diligence, Germany, Human Rights, Risk Management, Supply Chain

Corporate Restructuring, Listing Rules, Singapore, Singapore Exchange

Chrystle Kuek

Amendments Proposed to SGX Listing Rules to Support Company Restructuring

The Singapore Exchange Regulation (SGX RegCo) recently launched a public consultation on its proposed enhancements to Singapore’s corporate restructuring and trading resumption frameworks. Proposed changes to the Mainboard Rules…more

Climate Change, Corporate Governance, Disclosure Requirements, Greenhouse Gas Emissions, Securities and Exchange Commission (SEC)

Kenneth Kulak

SEC’s Climate Disclosure Rules: Balancing Compliance Amid Legal Uncertainty

The US Securities and Exchange Commission (SEC) completed a historic rulemaking on March 6, 2024 by adopting new rules requiring public companies to disclose certain climate-related information in registration statements and…more

Contract Terms, Coronavirus/COVID-19, Crisis Management, Force Majeure Clause, Frustration of a Common Purpose

Kelly Kuschel

Leasing Considerations for Tenants and Landlords During COVID-19 Pandemic

Tenants and landlords should consider whether certain provisions such as force majeure, frustration of purpose, and/or impracticability of performance can protect them under current leases—and whether to include such provisions…more

Trina Kwon

Privacy and Data Security: Key Developments from the FCC, FTC, and Capitol Hill

Technological advancements and cyber threats are keeping privacy and data security issues at the forefront of lawmaker and regulatory agency agendas on “the Hill,” in particular the US Federal Communications Commission (FCC),…more

Cybersecurity, Data Privacy, Data Protection, Data Security, FCC

Antitrust Provisions, Antitrust Violations, Competition, Resale Price Maintenance (RPM)

Stephen LaBrecque

Minimum Resale Price Maintenance Agreements Face Scrutiny from Maryland Attorney General

The Office of the Maryland Attorney General recently announced that the state is actively investigating resale price maintenance (RPM) violations under Maryland’s state antitrust law. Maryland’s investigations are notable as it…more

Matthew Ladd

New York Expands False Claims Act Tax Liability for Non-Filers

New York Governor Kathy Hochul recently signed into law new legislation expanding the reach of the New York False Claims Act (NYFCA) to entities that fail to file tax returns in New York. Unlike the federal False Claims Act…more

False Claims Act (FCA), New York, Qui Tam, State Taxes, Tax Fraud

Richard LaFalce

Treasury and the IRS Finalize Section 897 ‘Domestically Controlled’ Look-Through Rule

On April 24, the Internal Revenue Service (IRS) issued final regulations (Final Regulations) regarding Section 897. In December 2022, the IRS issued proposed regulations under Sections 897 (the Proposed Regulations) and 892 of…more

Income Taxes, Internal Revenue Code (IRC), IRS, Tax Planning, U.S. Treasury

Centers for Medicare & Medicaid Services (CMS), Inflation Reduction Act (IRA), Medicare, Medicare Part D, Prescription Drugs

Rachel Lamparelli

The Ins and Outs of Medicare’s Prescription Payment Plan

Through its passage, the Inflation Reduction Act (IRA) ushered in several reforms directed at rising prescription drug costs, aiming to lower costs for Medicare enrollees and reduce spending by the federal government. Included…more

Economic Sanctions, Foreign Policy, Foreign Relations, Military Conflict, Russia

Daryl Landy

Ukraine Conflict Two Years Later: Key Legal Lessons for Businesses

It’s been two years since the escalation of the ongoing conflict in Ukraine, which has led many companies with business operations or personnel in Eastern Europe to adjust, restructure, or exit locations in Russia. Meanwhile,…more

Consumer Financial Protection Bureau (CFPB), Financial Services Industry, Hidden Fees, Mortgage Lenders, Mortgages

Molly Moriarty Lane

CFPB Expands ‘Junk Fee’ Crackdown to Mortgage Closing Costs

Following a recent call for consumer input, the Consumer Financial Protection Bureau (CFPB) announced it will launch a formal public inquiry into so-called “junk fees” that the Bureau claims may be increasing mortgage closing…more

BEPS, Corporate Taxes, Cross-Border Transactions, International Tax Issues, Multinationals

Kai Lee Lau

The Dawn of BEPS 2.0 in Singapore: An Uncertain Road, A Certain Destination

The global wave of the two-pillar solution to address base erosion and profit shifting, commonly known as BEPS 2.0, has formally washed ashore in Singapore. It is now certain that multinational enterprises (MNEs) with local…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

Gina Lauriero

Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 2—Prohibited vs. Permissible Compensation Arrangements

This is the second in a multipart series on ML BeneBits discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC) banning the enforcement of almost all noncompete…more

Civil Liability, Commercial General Liability Policies, Coronavirus/COVID-19, Infectious Diseases, Life Sciences

John Lavelle, Jr.

Insurance, Liability, and Enforcement Considerations for Organizations Providing Vaccine Access

The recent rollout of various COVID-19 vaccines has raised many questions around their availability, distribution, and requirements for employers and other groups, including essential insurance, liability, and enforcement…more

Artificial Intelligence, Energy Sector, Nuclear Power, Popular, Renewable Energy

Mark Lazaroff

The Intersection of Energy and Artificial Intelligence: Key Issues and Future Challenges

Artificial intelligence (AI) not only provides new technological advantages to the energy industry, but also the industry is itself responsible for providing the vast (and growing) amount of energy consumption driven by the…more

Amended Legislation, Article 9, Governor Cuomo, Uniform Commercial Code (UCC)

Marc Leduc

2014 Changes to the New York Uniform Commercial Code

The changes provide modernization but with some nonuniform provisions. On December 17, 2014, New York Governor Andrew Cuomo signed into law New York Assembly Bill 9933, which amends the Uniform Commercial Code (the UCC)…more

Banking Sector, FATCA, Final Rules, Financial Conduct Authority (FCA), Financial Institutions

Ester Lee

Final Treasury Regulations Published on Transition from IBORs to Qualified Rates

The Internal Revenue Service and the US Treasury Department have issued final regulations providing rules for taxpayers transitioning from interbank offered rates to qualified rates. These regulations provide financial…more

Artificial Intelligence, Innovative Technology, Machine Learning, Technology Sector

Kristian Lee

Singapore Expands Its AI Governance Approach to Include Generative AI

Singapore’s Infocomm Media Development Authority (IMDA) launched the Model AI Governance Framework for Generative AI (Generative AI Framework) on 30 May 2024. The framework, developed by the IMDA and its wholly owned and…more

Banking Sector, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry

Kristin Lee

CFPB Announces Revised Supervisory Appeals Process

The Consumer Financial Protection Bureau (CFPB) on February 16 issued an internal process regulation—effective immediately upon publication in the Federal Register—updating and formalizing the steps that supervised institutions…more

Income Taxes, IRS, Limited Liability Company (LLC), Limited Partnerships, Self-Employment Tax

Scott Lee

US Tax Court Decision Opens Limited Partners to Self-Employment Tax Exposure

Private equity, hedge fund, and other investment fund sponsors should be aware of the recent development in the Internal Revenue Service’s (IRS’s) audit campaign with respect to potential liability for Self-Employment…more

Employer Liability Issues, Job Applicants, Pay Transparency, State Labor Laws, Wage and Hour

W. John Lee

Vermont Passes Pay Transparency Law: Considerations for Employers

Vermont Governor Philip Scott on June 4, 2024 signed into law H.704, a pay transparency requirement mandating employers with five or more employees to include wage ranges in job advertisements, effective July 1, 2025. The Office…more

Critical Infrastructure Sectors, Foreign Acquisitions, Foreign Direct Investment, Foreign Investment, Mergers

Christian Leeder

FDI Screening Alert: Challenges for Sensitive Technology Deals in Germany and United Kingdom

Two major transactions have recently faced headwinds in Germany and the United Kingdom, jurisdictions traditionally perceived as investor friendly. Specifically, Taiwanese-based investor GlobalWafers Co. Ltd. failed to obtain…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Alan Leeds

Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative…more

Aaron Leong

Singapore Exchange Amends Listing Rules Following Changes to the Companies Act

The Singapore Exchange has introduced amendments to the Mainboard and Catalist listing rules—including in relation to the electronic transmission of documents to shareholders, exemptions for insurance coverage and indemnities…more

CEOs, Consent, Directors, Electronic Communications, Financial Statements

Beneficial Owner, Business Ownership, Corporate Transparency Act, FinCEN, Limited Liability Company (LLC)

Laura Lerner

Llcs and Small Business Owners: Be Sure to File Beneficial Ownership Information Report to Comply With CTA

January 1, 2024 ushered in a new regulatory scheme for small business owners across the United States with the Corporate Transparency Act (CTA). The CTA seeks to combat illicit activity involving tax fraud, money laundering, and…more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Restrictive Covenants, State Labor Laws

Claire Lesikar

Washington State Expands Its Noncompete Law

While the Federal Trade Commission’s new noncompete ban is facing challenges on multiple fronts, Washington State has enacted its own new restriction on noncompetes. Effective June 6, 2024, employers must comply with the new…more

Coronavirus/COVID-19, Equity Compensation, Equity Grants, Hiring & Firing, Inducements

Jeffrey Letalien

Inducement Grants Enable Companies to Avoid Depletion of Equity Plan Share Reserves

This LawFlash discusses awarding equity grants to newly hired employees as “inducement grants” outside the shareholder approved plan and the pros and cons of making inducement grants…more

Attorney's Fees, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Litigation

Liya Levin

Federal Circuit Confirms Boundaries of Fee Recovery Under 35 USC § 285

In Dragon Intellectual Property LLC v. DISH Network LLC, the US Court of Appeals for the Federal Circuit addressed an “exceptional” set of circumstances concerning the recovery of attorney fees in district court litigation under…more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds

Timothy Levin

Fifth Circuit Vacates SEC Private Fund Adviser Rules in Full

In a unanimous decision published on June 5, 2024, the US Court of Appeals for the Fifth Circuit vacated the entire set of regulations, including amendments to existing rules (collectively, the Rules), adopted by the US…more

Randall Mark Levine

Ninth Circuit: US Must Pay Share of CERCLA Cleanup Costs at Former Military Plant

The decision could make it easier to recover from the government for CERCLA response costs at former defense production facilities and shift leverage in settlement discussions…more

CERCLA, Cleanup Doctrine, Environmental Policies, tdy

Congressional Review Act, FDIC, Financial Regulatory Reform, Financial Services Industry, FinTech

Steve Levitan

True Lender Rule Invalidated

Congress has enacted and President Joseph Biden has signed a joint resolution of disapproval under the Congressional Review Act (CRA) of the Office of the Comptroller of the Currency’s (OCC’s) “true lender” rule, which, as we…more

28 U.S.C. § 1782, Commercial Arbitration, Discovery, Foreign Jurisdictions, Foreign Tribunals

David Levy

US Supreme Court Restricts Use of US Courts to Aid in Discovery for International Arbitrations

Parties seeking to use the US court system to facilitate discovery in foreign commercial and investor-state arbitrations may no longer have that option…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

Lindsey Titus Levy

Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

Mathew Lewis

A Closer Look at DOJ’s New Safe Harbor Policy for Voluntary Self-Disclosure in M&A

With the Department of Justice’s (DOJ’s) recently announced “Safe Harbor Policy” encouraging voluntary self-disclosure in mergers and acquisitions (M&A), this LawFlash discusses key considerations and measures that acquiring…more

Bonnie Li

Shanghai Municipal Health Commission Issues New Regulation on Integrity Practices for Medical Staff

The Shanghai Municipal Health Commission—with the Shanghai Municipal Medical Insurance Bureau and the Shanghai Municipal Administration of Traditional Chinese Medicine—issued a new regulation on April 7, “Implementation Rules…more

Bribery, China, Corruption, Pharmaceutical Industry

Biologics, China, Intellectual Property Protection, Manufacturers, Pharmaceutical Industry

Todd Liao

China Boosts Regulatory Framework for Local Pharmaceutical Manufacturing

In recent years, China has introduced significant changes to its Drug Administration Law and corresponding legislation, including the nationwide Market Authorization Holder (MAH) system. These reforms aim to boost foreign…more

Cryptoassets, Cryptocurrency, Digital Assets, Financial Conduct Authority (FCA), Financial Services Industry

Steven Lightstone

Going Digital in the UK, US, and UAE: The Latest Digital Asset Developments

The global digital landscape continues to rapidly transform and bring forth innovative financial instruments and technologies, including within the shifting regulatory frameworks that have shaped the digital asset ecosystem in…more

Department of Energy (DOE), Energy Reorganization Act, Energy Sector, IAEA, Nuclear Power

Ryan Lighty

Nuclear Energy Mid-Year Report: Navigating the Changing Nuclear Landscape in 2024

The first half of 2024 has been a dynamic period for the nuclear energy industry, marked by significant legislative and regulatory developments, evolving enforcement trends, and a continued focus on innovation and public safety…more

China, Employee Benefits, International Labor Laws, Retirement

K Lesli Ligorner

China Announces Plan to Gradually Increase Statutory Retirement Age

China has released its plan to raise the statutory retirement age for male and female employees. The increase will start to gradually take effect from January 1, 2025. The ultimate retirement age set by statute will continue to…more

Acquisitions, Employee Benefits, Employer Liability Issues, Employment Contract, Executive Compensation

Austin Lilling

Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 3—Impact on Mergers and Acquisitions

This is the third part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC), banning the enforcement of almost all noncompete…more

Beneficial Owner, Proposed Amendments, Reporting Requirements, Schedule 13D, Securities and Exchange Commission (SEC)

Lixin Lin

SEC Amends Rules for Reporting Beneficial Ownership on Schedules 13D and 13G

The US Securities and Exchange Commission (SEC) adopted amendments on October 10, 2023 to the rules governing beneficial ownership reporting on Schedules 13D and 13G and provided guidance on the rules’ application. The revisions…more

Advanced Pricing Agreements, Audits, Cross-Border Transactions, Tax Planning, Transfer Pricing

Thomas Linguanti

Beware States Offering Unilateral Advance Pricing Agreements for Transfer Pricing

As state revenue agencies train their auditors in traditional IRC §482 transfer-pricing methodologies or outsource transfer-pricing audits to third-party specialists, a recent initiative by the Indiana Department of Revenue…more

Civil Rights Act, De Minimus Doctrine, Employer Liability Issues, Equal Employment Opportunity Commission (EEOC), Groff v DeJoy

Thomas Linthorst

Religious Accommodations: Us Supreme Court Heightens Undue Hardship Standard

The US Supreme Court issued a unanimous decision on June 29, 2023 in Groff v. DeJoy, revising the standard for undue hardship in the context of religious discrimination claims brought under Title VII. The Court held that an…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Andrew Lipman

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Corporate Counsel, Employer Liability Issues, OSHA, Workplace Injury, Workplace Safety

Megan Lipsky

New Guidance Shows OSHA May Target Stretching Programs Often Used to Prevent Musculoskeletal Disorders

The Occupational Safety and Health Administration (OSHA) recently released enforcement guidance to its inspectors to determine when Active Release Techniques and stretching for employees, which are often used to prevent or…more

Asset Management, China, China Securities Regulatory Commission (CSRC), Financial Markets, Foreign Corporations

Joy Liu

China Securities Regulatory Commission Responds to Foreign Asset Managers’ FMC Applications

Feedback on recent applications to the China Securities Regulatory Commission provides some clarity on what will be expected from foreign asset managers wishing to establish fund management companies in the Chinese domestic…more

Marc Liverant

Upcoming Deadline to Dispute California Property Tax Valuation

For California property owners that could potentially reduce their property taxes with a decline-in-value assessment appeal, the property tax assessment appeals for 2024 are due by either September 16 or December 2 depending on…more

Property Owners, Property Tax, Property Valuation, State Taxes, Tax Assessment

Commercial Contracts, Contract Drafting, Contract Terms, IP License, Non-Disclosure Agreement

Wan-Shon Lo

IP and Commercial Contract Litigation Developments and Trends: What Transactional Lawyers Should Know

As part of our Spotlight series, we invited litigation partners Dana E. Becker (Philadelphia), Shon Lo (Chicago), and Krista Vink Venegas, Ph.D. (Chicago), to talk about recent trends and issues in IP-related and other…more

Artificial Intelligence, Governor Newsom, Innovative Technology, Machine Learning, Technology Sector

Minna Lo Naranjo

California’s SB 1047 Would Impose New Safety Requirements for Developers of Large-Scale AI Models

The California State Assembly passed on August 28, 2024 proposed bill SB 1047, also known as the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act, which aims to add new requirements to the development…more

Janice Logan, Ph.d.

Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational…more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

Whitney Lohr

US Department of State Releases September 2024 Visa Bulletin

The US Citizenship and Immigration Services (USCIS) will use the Final Action Dates for Employment-Based Adjustment of Status Applications chart in September 2024. The Final Action Dates chart reflects significant EB-3…more

EB-1, EB-2, EB-3, Foreign Nationals, Foreign Workers

Christine Lombardo

Deciphering FinCEN’s New Anti-Money Laundering Rules for Advisers

On August 28, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) adopted a final rule that subjects investment advisers to anti-money laundering/countering the financing of terrorism…more

AML/CFT, Anti-Money Laundering, Final Rules, FinCEN, Money Laundering

Brian London

ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial…more

Bitcoin, Cryptocurrency, Digital Assets, ETFs, Exchange-Traded Products

Cybersecurity, Cybersecurity Maturity Model Certification (CMMC), Department of Defense (DOD), DFARS, Federal Contractors

Sarah-Jane Lorenzo

DOD Progresses Toward CMMC 2.0 Implementation with New Proposed Rule

The US Department of Defense (DoD) has issued a new proposed rule for implementing the next iteration of the Cybersecurity Maturity Model Certification (CMMC) 2.0 program. This action drives forward the DoD’s plans to bolster US…more

Daniel Losk

Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative…more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Helix Energy Solutions Group Inc v Hewitt No 21-984, Highly Compensated Employees

Jonathan Lotsoff

US Supreme Court: Highly Compensated Employees Entitled to Overtime Unless FLSA Exemption Requirements Satisfied

In Helix Energy Solutions Group Inc. v. Hewitt, the US Supreme Court held (on the facts of that case) that an employer had improperly classified a supervisory employee earning more than $200,000 per year as an exempt “executive”…more

Board of Directors, Delaware General Corporation Law, Fiduciary Duty, Mergers, Shareholders

Brian Loughnane

Amendments to DGCL Proposed After Chancery Decisions on M&A Practice and Stockholder Agreements on Corporate Governance Rights

The Council of the Corporation Law Section of the Delaware State Bar Association has proposed amendments to the Delaware General Corporation Law that, if enacted by the General Assembly, will address issues raised in three…more

Artificial Intelligence, Authorship, Copyright, Copyright Office, Copyright Registration

Emily Lowe

Two ‘Gotchas’ to Watch for When Negotiating (Not Just AI) Contracts – Part 1

As we continue to see AI steadily and increasingly be incorporated into service offerings, businesses should pay special attention to previously “standard” provisions when contracting for the provision and use of services that…more

Patrick Lucke

Private Funds 2023: The Year in Brief

2023 was a watershed year for the private fund industry, not only because the US Securities and Exchange Commission (SEC) adopted a package of new regulations that will substantially alter the private fund landscape (subject to…more

Broker-Dealer, Form PF, Investment Adviser, Investors, Private Funds

Banking Sector, Banks, Financial Services Industry, Monetary Authority of Singapore, Singapore

Bernard Lui

Monetary Authority of Singapore’s Enhanced Investigative and Supervisory Powers

Singapore’s new bill grants the Monetary Authority of Singapore (MAS) broader authority over the financial sector to oversee, investigate, and penalize misconduct. It aims to address the industry's growth and complexity,…more

Edwin Luk

HKEX to Further Promote Its Paperless Initiative in 2024

The Stock Exchange of Hong Kong Limited (HKEX) recently released its Consultation Conclusions on the Consultation Paper introduced in December 2022, Proposals to Expand the Paperless Listing Regime and Other Rule Amendments,…more

HKEx, Hong Kong, Hong Kong Stock Exchange, Listing Rules

Artificial Intelligence, Automated Decision Systems (ADS), Employer Liability Issues, Equal Employment Opportunity Commission (EEOC), Hiring & Firing

Kimberley Lunetta

AI in the Workplace: The New Legal Landscape Facing US Employers

Artificial intelligence (AI) is quickly transforming the employment landscape, automating tasks, streamlining processes, and enhancing decision-making. At the same time, the technology raises concerns about potential biases,…more

Cyber Incident Reporting, Cybersecurity, Disclosure Requirements, Form 10-K, Form 8-K

Albert Lung

SEC Proposes Mandatory Cybersecurity Disclosures

The US Securities and Exchange Commission has proposed new rules and amendments to mandate disclosure regarding cybersecurity risk management, strategy, governance, and incident reporting, including amendments to Form 8-K, Form…more

Margaret Luo

Morgan Lewis Automotive & Mobility – Q3 | 2023

Welcome to the 37th edition of our newsletter on developments in the automotive industry, published by Morgan Lewis’s automotive and mobility team with contributions from lawyers in our offices around the globe. We counsel our…more

Acquisitions, Antitrust Provisions, Automotive Industry, Competition, Mergers

Michael Luskin

Default Rate Interest in the Wake of Golden Seahorse Chapter 11 Decision

Can a debtor reinstate a defaulted loan under a Chapter 11 plan without paying default rate interest? This question was analyzed thoroughly in a recent Southern District of New York Bankruptcy Court decision by Judge Philip…more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Debtors

Asbestos, Boeing, Employer Liability Issues, Take-Home Exposure

Steven Luxton

Pennsylvania Does Not Recognize Duty to Warn an Employee’s Spouse

District court predicts that Pennsylvania will not recognize a duty to protect or warn the spouse of an employee in “take home” or “household” asbestos exposure cases. On August 26, Judge Eduardo C. Robreno of the U.S…more

Department of Labor (DOL), Economic Realities Test, Employee Definition, Employer Liability Issues, Fair Labor Standards Act (FLSA)

Sean Lynch

US Department of Labor Publishes Its Independent Contractor Final Rule

The US Department of Labor (DOL) published on January 10, 2024 its long-awaited Final Rule regarding independent contractor classification under the Fair Labor Standards Act (FLSA), signaling a return to its pre-2021…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

Timothy Lynch

Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

Michael Lyons

PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Cal-OSHA, California, Employer Liability Issues, Health and Safety, Heat Exposure

Heather MacDougall

Cal/OSHA Standards Board Approves Its First-Ever Indoor Heat Rule

The California Occupational Safety and Health (Cal/OSHA) Standards Board voted unanimously to approve a new indoor heat illness rule covering the vast majority of California employers…more

Comment Period, Intellectual Property Protection, Patent Infringement, Patent Litigation, Patents

Christina Macdougall, Ph.d.

An Expansion to the Experimental Use Exception to Patent Infringement in the Works?

The US Patent and Trademark Office is requesting public feedback on the current experimental use exception’s impact on technology sectors—and the public’s appetite for expanding the exception…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

Kathleen Macpeak

1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Acquisitions, Breach of Duty, Corporate Governance, Financial Industry Regulatory Authority (FINRA), Initial Public Offering (IPO)

Grant MacQueen

The Future of SPACs: Increasing Litigation and Regulation

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms” complete mergers with or acquisitions of private…more

Cyber Attacks, Cyber Threats, Cybersecurity, Department of Health and Human Services (HHS), FBI

Michael Madderra

HHS and FBI Release Joint Cybersecurity Advisory Statement for Healthcare Providers

Shortly after our prior blog post discussing the need for healthcare entities to shore up protections against phishing attacks, the Department of Health and Human Services (HHS) and the Federal Bureau of Investigation (FBI)…more

Cyber Attacks, Cyber Threats, Cybersecurity, Department of Health and Human Services (HHS), FBI

Amy Magnano

HHS and FBI Release Joint Cybersecurity Advisory Statement for Healthcare Providers

Shortly after our prior blog post discussing the need for healthcare entities to shore up protections against phishing attacks, the Department of Health and Human Services (HHS) and the Federal Bureau of Investigation (FBI)…more

Americans with Disabilities Act (ADA), Department of Justice (DOJ), Disability Discrimination, New Guidance, Public Accommodation

Joseph Magrisso

DOJ Breaks Silence on ADA Web Accessibility with New Guidance

Following a period of silence on whether the Americans with Disabilities Act requires websites to be accessible to persons with disabilities, the US Department of Justice released new guidance on March 18 focusing on covered…more

Coronavirus/COVID-19, Intellectual Property Protection, Patent Examinations, USPTO, USPTO Pilot Program

Komal Magsi, Ph.D.

Small and Micro Entities with COVID-19-related Inventions Now Have Inexpensive Track to Patent

The US Patent and Trademark Office (USPTO) on May 8 announced a new COVID-19 Prioritized Examination Pilot Program (Pilot Program), under which eligible small and micro entities will receive prioritized examination without…more

Centers for Disease Control and Prevention (CDC), Contact Tracing, Coronavirus/COVID-19, Infectious Diseases, New Guidance

Brian Mahoney

CDC Expands Definition of ‘Close Contact’ to Include Multiple Short Interactions

The US Centers for Disease Control and Prevention has expanded its definition of “close contact” to include individuals who spend 15 cumulative minutes within six feet of an individual infected with coronavirus (COVID-19) over a…more

Anti-Corruption, Bribery, Corruption, Foreign Corrupt Practices Act (FCPA), Sports

Stacey Anne Mahoney

Staying in Bounds: Compliance Considerations in the Sports Industry

In the complex and dynamic world of sports, legal compliance is crucial for maintaining integrity, ensuring fair play, and safeguarding the interests of all stakeholders. From anti-corruption measures to tax issues to antitrust…more

Asset Management, Blockchain, Cryptocurrency, Distributed Ledger Technology (DLT), Financial Markets

Robert Mailer

Tokenized Funds, The Next Investment Trend? Regulatory Developments in the UK, EU, and UAE

There has been a growing trend among traditional funds and asset managers to launch programs to tokenize alternative assets. The main benefits of tokenizing funds include increased liquidity and accessibility, heightened…more

Department of Labor (DOL), Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Final Rules

Eric Makinen

Department of Labor Issues Final Rule Raising Salary Level for FLSA ‘White Collar’ Exemptions

On April 24, 2024, the US Department of Labor (DOL) announced the highly anticipated revisions to the salary thresholds for the Fair Labor Standards Act’s (FLSA’s) “white collar” overtime exemptions. The update significantly…more

Business Disruption, Business Interruption, Business Losses, Civil Authority Coverage, Coronavirus/COVID-19

Charles Malaret

COVID-19 Business Interruption Losses: The Potential Keys to Unlocking Insurance Recovery

As the coronavirus (COVID-19) pandemic evolves, governmental executive and legislative authorities are taking actions in the form of emergency declarations and proposed legislation that could improve a company’s ability to…more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Restrictive Covenants, State Labor Laws

Ryan Malhan

Washington State Expands Its Noncompete Law

While the Federal Trade Commission’s new noncompete ban is facing challenges on multiple fronts, Washington State has enacted its own new restriction on noncompetes. Effective June 6, 2024, employers must comply with the new…more

Artificial Intelligence, Department of Justice (DOJ), Fraud, Securities and Exchange Commission (SEC), Self-Disclosure Requirements

Harold Malkin

DOJ Update : Financial Awards for Corporate Whistleblowers, Enhanced Penalties for Fraud Involving AI Misuse

The US Department of Justice (DOJ) continues to enhance its tougher-on-corporate-crime policy stance as first announced by Deputy Attorney General Lisa Monaco in 2021. In remarks on March 7 and March 8, DAG Monaco and Acting…more

Employer Liability Issues, International Labor Laws, UK, Wage and Hour

William Mallin

The State of UK Employment Law Reforms Post–King’s Speech

As projected, the King’s Speech of 17 July 2024, outlining the UK government’s legislative agenda, made reference to the Labour Party’s “New Deal for Working People” among other proposed legislation for the Party’s first 100…more

Coronavirus/COVID-19, Employer Liability Issues, Health and Safety, Infectious Diseases, Masks

Alexander Malson

OSHA Issues Guidance on Mitigating and Preventing COVID-19 Spread in the Workplace

Among other features, the new guidance recommends that employers implement a COVID-19 prevention program and identifies key measures for limiting the spread of COVID-19. The Occupational Safety and Health Administration (OSHA)…more

Asia, Coronavirus/COVID-19, Digital Health, EU, Food and Drug Administration (FDA)

Jeffry Mann, Ph.d.

Life Sciences International Review | August 2020

Welcome to the August 2020 issue of our Life Sciences International Review. This issue covers new developments within Asia, Europe, and the United States in intellectual property, regulatory, pricing, and international trade,…more

Breach of Duty, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Retirement

Rachel Mann

Stick to the (ERISA) Plan

The backbone of a fiduciary’s duties is the written plan document: understanding the key terms and adhering to them provides a bulwark against fiduciary breach. ERISA Sections 402(a)(1) and 404(a)(1)(d) require that every…more

Competition, Merger Controls, Mergers, UK, UK Competition and Markets Authority (CMA)

Savas Manoussakis

UK Competition and Markets Authority Releases Update on Potential Risks of AI Foundation Models

The UK Competition and Markets Authority (CMA) recently published an update paper outlining its concerns with AI foundation models (FMs). The CMA’s September 2023 initial Report on FMs set out its early views on how FMs should…more

Climate Change, Electricity, Energy Projects, Energy Sector, Greenhouse Gas Emissions

Alexander Marchenko

Morgan Lewis Spark Q2 - 2021 - Russian

Morgan Lewis Spark – это ежеквартальный обзор, освещающий нововведения и изменения российского законодательства, имеющие важное значение для компаний, работающих в российских секторах энергетики и добычи полезных ископаемых. Мы…more

Grigory Marinichev

Update: ‘Control’ for UK Sanctions Addressed in Hellard Case

Asset freeze measures enacted by the United Kingdom against designated persons (DPs) can, under certain circumstances, extend to entities “owned or controlled” by DPs. To date, there have been few—and at times partly…more

Background Checks, Criminal Background Checks, Criminal Records, Employer Liability Issues, Fair Chance Act

Aleksandr Markelov

LA County Passes Fair Chance Ordinance on Employer Consideration of Criminal History

The County of Los Angeles has announced a new Fair Chance Ordinance, taking effect on September 3, 2024, that will regulate the consideration of criminal history information by employers with five or more employees in…more

Richard Marks

NLRB Issues New Joint Employer Rule Affirming Expansive Joint Employer Status

The NLRB recently published its final rule on the standard for determining joint employer status, broadening the circumstances under which separate businesses can be considered joint employers—thereby making them obligated to…more

Employer Liability Issues, Franchisee, Franchisors, Joint Employers, NLRB

Employer Liability Issues, International Labor Laws, Sexual Harassment, UK

Cary Marshall

UK Employers’ New Duty to Prevent Sexual Harassment: Are You Ready?

Employers have a new duty to take reasonable steps to prevent sexual harassment of employees in the course of their employment under the Worker Protection (Amendment of Equality Act 2010) Act 2023 (the Act). After receiving…more

Administrative Authority, Administrative Law Judge (ALJ), Administrative Proceedings, Civil Monetary Penalty, Constitutional Challenges

David Martin

US Supreme Court Curtails Availability of SEC In-House Proceedings

In a 6-3 decision, the US Supreme Court on June 27, 2024, in Securities and Exchange Commission v. Jarkesy held that the Seventh Amendment of the US Constitution entitles a defendant to a jury trial when the US Securities and…more

Cyber Incident Reporting, Cybersecurity, Form 8-K, Ransomware, Securities and Exchange Commission (SEC)

Erin Martin

SEC Releases Interpretations on Ransomware Attacks and Payment Disclosures

The US Securities and Exchange Commission (SEC), Division of Corporation Finance on June 24, 2024 issued five Compliance and Disclosure Interpretations (C&DIs) on its website to address questions raised by its requirement for…more

Gabrielle Martin

The Impact of Brexit on UK Competition Law Cases

Following Brexit, EU competition law continued to apply in the United Kingdom until 31 December 2020 as part of an agreed Transition Period. In this LawFlash, we summarise how the end of the Transition Period is likely to impact…more

Anti-Competitive, Antitrust Provisions, Competition, EU, Jurisdiction

Capital Markets, China, Corporate Governance, Department of Justice (DOJ), Foreign Corporations

Hanna Martin

US-China Auditing Oversight Agreement Signals Cooperation Between Nations but Could Lead to Increased Enforcement Risk

Due to a recent agreement between the Public Company Accounting Oversight Board and Chinese securities regulators, many US exchange–listed companies audited by accounting firms based in mainland China and Hong Kong may be able…more

Diversity, Diversity and Inclusion Standards (D&I), Employee Training, Employer Liability Issues, Stop Woke Act

Anne Martinez

Courts Issue Three Significant DEI Decisions

Last week, three federal courts issued significant decisions impacting the diversity, equity, and inclusion (DEI) legal landscape. Together, the cases demonstrate the rapidly evolving state of the law with respect to DEI…more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

David Marvin

2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Employee Benefits, Employee Retirement Income Security Act (ERISA), Multiemployer Plan, Pensions, Retirement Plan

William Marx

Withdrawal Liability Notice and Demand in Multiemployer Plans: Interpreting ‘As Soon as Practicable’ for Funds and Employers

A recent ruling by the US Court of Appeals for the Third Circuit serves provides a valuable reminder for multiemployer pension funds and contributing employers regarding ERISA’s withdrawal liability notice and demand…more

Department of Labor (DOL), Minimum Wage, Over-Time, Wage and Hour

Lauren Marzullo

Pennsylvania DLI Issues Proposed Revisions to PMWA Overtime Exemption Regulations

On June 12, the Pennsylvania Department of Labor and Industry submitted proposed rulemaking announcing proposed revisions to the Pennsylvania Minimum Wage Act overtime exemptions. The proposed rulemaking seeks to significantly…more

Algorithms, Artificial Intelligence, Department of Justice (DOJ), Federal Trade Commission (FTC), Innovative Technology

Michael Masling

Global Regulators Issue Joint Statement on Competition in the Generative AI Sector

The European Commission, UK Competition and Markets Authority, US Department of Justice, and US Federal Trade Commission have issued for the first time a joint statement outlining their commitment to working together to create a…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Department of Labor (DOL), Equal Employment Opportunity Commission (EEOC)

Sharon Perley Masling

Practical Guidance on Labor and Employment Issues in a Post-Chevron World

With the US Supreme Court’s June 28 decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, the four-decades Chevron doctrine is no longer. While the Court’s decision has altered administrative…more

Natacha Massih

Massachusetts Limits Foreclosures, Evictions; Requires Forbearance

Governor Charlie Baker signed emergency legislation on April 20 limiting evictions for residential and small business properties, and limiting foreclosures and requiring forbearance for residential properties…more

CARES Act, Coronavirus/COVID-19, Eviction, Forbearance Agreements, Foreclosure

Anti-Kickback Statute, False Claims Act (FCA), Health Care Providers, Healthcare Fraud, Medicare

Jeffrey Masters

Second Circuit Confirms ‘Willfulness’ Standard for Scienter Has Teeth Under the Anti-Kickback Statute and False Claims Act

In a new decision that could have a significant impact on the persistent efforts of relators to reach otherwise lawful conduct and characterize it as a violation of the Anti-Kickback Statute (AKS), the US Court of Appeals for…more

John Matthews

Update on Status of US-UK 123 Agreement Regarding Nuclear Trade

As we reported in 2019, the United Kingdom’s withdrawal from the European Union, which occurred on January 31, 2020, included the United Kingdom’s exit from the European Atomic Energy Community (Euratom). Exports of nuclear…more

Atomic Energy, Atomic Energy Act, Euratom Treaty, Nuclear Power, UK

CERCLA, Contamination, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

Laurie Matthews

EPA Designates PFOA and PFOS As CERCLA Hazardous Substances

The US Environmental Protection Agency (EPA) on April 19 released the pre-publication final rule (Rule) designating perfluorooctanoic acid (PFOA) and perfluorooctanesulfonic acid (PFOS) as “hazardous substances” under the…more

Timothy Matthews

Congress Passes Legislation to Ban Imports of Russian Uranium

Congress recently passed legislation to ban imports of Russian uranium products into the United States. The Prohibiting Russian Uranium Imports Act (HR 1042) (the Act) was approved by the House of Representatives on December 11,…more

Imports, Nuclear Power, Russia, Uranium

Department of Energy (DOE), Energy Sector, Nuclear Power, Nuclear Regulatory Commission

Molly Mattison

Congress Gives 40-Year Extension for Price-Anderson Nuclear Liability Framework

With the change of a single number, Congress has provided continued support for the nuclear power industry by renewing the Price-Anderson Act. Congress amended Section 170 of the Atomic Energy Act of 1954 (commonly known as the…more

Paul Mayer

US Supreme Court Affirms Easy Government Dismissal Standard in Declined Qui Tam Cases, But Renews Constitutionality Debate

The US Supreme Court’s decision in United States ex rel. Polansky v. Executive Health Resources confirms the relative ease by which the US government can exercise its dismissal authority under False Claims Act (FCA) Section…more

Constitutional Challenges, False Claims Act (FCA), Qui Tam, Relators, SCOTUS

Department of Energy (DOE), Energy Sector, Federal Power Act, FERC

Levi McAllister

FERC Orders 1920 and 1977: The Latest Evolution in Transmission Planning and Oversight

The US federal government’s evolving role in overseeing transmission development took another leap forward after the Federal Energy Regulatory Commission (FERC) issued Orders 1920 and 1977, two new rules that mark FERC’s first…more

Clean Air Act, Clean Water Act, Environmental Protection Agency (EPA), Fossil Fuel, Greenhouse Gas Emissions

Christopher McAuliffe

EPA Finalizes Rules for Fossil Fuel–Fired Power Plants, Including GHG Standards

The US Environmental Protection Agency (EPA) released on April 25, 2024 the prepublication versions of four final rules applicable to fossil fuel–fired power plants. The rules establish carbon dioxide standards for existing…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

B. Scott McBride

Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Environmental Protection Agency (EPA), Government Agencies

Duke Mccall, III

The End of the Chevron Doctrine: an Environmental Law Watershed?

The US Supreme Court’s opinion in the Loper Bright v. Raimondo and Relentless v. Commerce cases overruling the rule of deference to agency interpretations of federal statutes established by its decision 40 years ago in Chevron…more

Employee Benefits, Individual Retirement Account (IRA), IRS, Popular, Retirement Plan

Vivian McCardell

SECURE Act: IRS Sets Amendment Deadline for IRA Providers and Addresses Other IRA Issues

The Internal Revenue Service (IRS) recently released new guidance in IRS Notice 2020-68 to assist owners of individual retirement accounts and annuities (IRAs) and IRA providers implement certain provisions of the Setting Every…more

Meghan McCarthy

Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

Mortgage Lenders, Mortgages, Property Tax, Real Estate Market

Ryan McCarthy

C-Pace Financing: Exploring the Benefits and Risks

With real estate market conditions continuing to remain in flux, many developers and operators of real estate have been left searching for new partners and capital providers to finance acquisitions and development. One option…more

CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus, Paycheck Protection Program (PPP)

S. Elaine Mcchesney

COVID-19: Cares Act Provisions Impacting The Banking Sector

The Coronavirus Aid, Relief, and Economic Security (CARES) Act offers broad-based economic support for companies contending with the disruptions caused by the coronavirus (COVID-19) pandemic…more

Artificial Intelligence, Energy Sector, Nuclear Power, Nuclear Regulatory Commission, Popular

Erin McClelland

NRC Staff Lays Framework for the Agency’s AI Use

The demand for energy is anticipated to rise significantly due to the increased deployment of artificial intelligence (AI) technologies, which are highly energy intensive. As we discussed in a recent thought leadership piece,…more

Administrative Authority, Administrative Law Judge (ALJ), Administrative Proceedings, Civil Monetary Penalty, Constitutional Challenges

Matthew McDonough

US Supreme Court Curtails Availability of SEC In-House Proceedings

In a 6-3 decision, the US Supreme Court on June 27, 2024, in Securities and Exchange Commission v. Jarkesy held that the Seventh Amendment of the US Constitution entitles a defendant to a jury trial when the US Securities and…more

Employer Liability Issues, Job Applicants, Pay Transparency, State Labor Laws, Wage and Hour

Margaret Mcdowell

Vermont Passes Pay Transparency Law: Considerations for Employers

Vermont Governor Philip Scott on June 4, 2024 signed into law H.704, a pay transparency requirement mandating employers with five or more employees to include wage ranges in job advertisements, effective July 1, 2025. The Office…more

Business Continuity Plans, Coronavirus/COVID-19, Corporate Governance, Duty of Care, Duty of Loyalty

Tara Mcelhiney

Boards of Directors Must Continue to Meet Fiduciary Duties During Pandemic

As the coronavirus (COVID-19) pandemic disrupts everyday life throughout the world, boards of directors of corporations working around the clock to understand, address, and mitigate its effects on business operations must direct…more

Antitrust Provisions, Antitrust Violations, Climate Change, Environmental Social & Governance (ESG)

William Mcenroe

Climate Risks and Antitrust: The Policy and Politics of ESG Collaborations

Hotly contested across party lines—and often borders—environmental, social, and governance (ESG) standards were the focus of recent dueling reports by the US House Judiciary Committee. Despite the deepening debate, what…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Environmental Protection Agency (EPA), Government Agencies

John McGahren

The End of the Chevron Doctrine: an Environmental Law Watershed?

The US Supreme Court’s opinion in the Loper Bright v. Raimondo and Relentless v. Commerce cases overruling the rule of deference to agency interpretations of federal statutes established by its decision 40 years ago in Chevron…more

Annual Meeting, Climate Change, Corporate Governance, Corporate Social Responsibility, Environmental Social & Governance (ESG)

Randall McGeorge

Proxies, Pay, and the Brave New World of ESG

Environmental, social, and governance (ESG) matters are now the subject of significantly greater regulatory scrutiny and are becoming a more prominent part of public companies’ mandatory filings, shareholder proposals, and…more

Brooke McGlinn

Smoother Sailing to 30 GW by 2030: Proposed Enhancements to Offshore Wind Permitting Process

Leaders across the United States are prioritizing offshore wind development as an essential component of any strategy to address climate change, since the ocean is one of the few available areas that can provide enough renewable…more

BOEM, Clean Energy, Energy Projects, Energy Sector, Offshore Lease

Medco Health Solutions, On-Sale Bar, Patent Applications, Patents, Uniform Commercial Code (UCC)

Margaret McGreal

Federal Circuit Defines Commercial Sale For ‘On-Sale’ Bar

Unanimous en banc Federal Circuit holds that on-sale bar only applies where a commercial sale “bears the general hallmarks of a sale.” On July 11, in a unanimous en banc ruling, the full US Court of Appeals for the Federal…more

Corporate Branding, Cryptocurrency, Digital Assets, Intellectual Property Protection, Metaverse

Kathryn McGuigan

Metaverse: A Jumpstart Guide to Intellectual Property, Antitrust, and International Considerations

The term “metaverse” first appeared in Neal Stephenson’s dystopian novel Snow Crash in 1992. Two decades later, the metaverse has evolved from a concept in print into an interactive and immersive reality. Its hyper-realistic…more

Form N-CEN, Form N-PORT, Investment Companies, Investment Company Act of 1940, Liquidity

W. John McGuire

SEC Amends Registered Fund Reporting Requirements, Issues Guidance on Liquidity Risk Management Programs

The US Securities and Exchange Commission (SEC), by a 3-2 vote, recently adopted amendments to registered fund reporting requirements on Form N-PORT and Form N-CEN and provided guidance on open-end funds’ liquidity risk…more

Collateralized Debt Obligations, Corporate Counsel, Foreign Corporations, Intercompany Transactions, Internal Revenue Code (IRC)

Bill McKee

Impact of New Tax Regulations on Intercompany Debt Obligations

The final, temporary, and proposed regulations issued by the Internal Revenue Service on October 13 relating to intercompany debt obligations between members of an affiliated group of corporations under Section 385 of the…more

Cal-OSHA, California, Employer Liability Issues, Health and Safety, Heat Exposure

Mathew McKenna

Cal/OSHA Standards Board Approves Its First-Ever Indoor Heat Rule

The California Occupational Safety and Health (Cal/OSHA) Standards Board voted unanimously to approve a new indoor heat illness rule covering the vast majority of California employers…more

Diversity and Inclusion Standards (D&I), Law Enforcement, Police, Police Brutality, Police Misconduct

Jami McKeon

Mobilizing for Equality: 2021 Annual Report

The murder of George Floyd in May 2020 ignited a long-overdue global movement for racial justice, with communities across the United States and around the world unifying to demand change. In the immediate aftermath of the…more

Neil McKnight

UK Government Calls for Evidence on the Reform of Carried Interest

On 29 July, the UK government issued a call for evidence in connection with its proposed reform of the UK taxation of carried interest. Noting that the tax treatment of carried interest is the subject of considerable debate, the…more

Evidence, Income Taxes, Tax Rates, UK

Article III, Breach of Duty, Defined Benefit Plans, Duty of Loyalty, Duty of Prudence

Sean McMahan

US Supreme Court Bars Claims Involving Defined Benefit Plan Investments

In a 5-4 decision in Thole v. U.S. Bank N.A., the US Supreme Court has ruled that defined benefit plan participants lack Article III standing to sue for fiduciary breaches that do not harm the individual participants. As the…more

Artificial Intelligence, Automation Systems, Outsourcing, Technology Sector

David McManus

2023 Tech & Sourcing Summit: A Summary

On October 25, the Morgan Lewis technology transactions, outsourcing, and commercial contracts team filled a room in New York with representatives from various industries who were looking to engage in interactive discussions…more

Board of Directors, Bylaws, Corporate Governance, Shareholders

Laura Hughes McNally

Delaware Supreme Court Raises the Bar on Plaintiffs’ Firms Extracting Fees for Challenges to Advance Notice Bylaws

The Delaware Supreme Court on July 11 partially reversed the Delaware Court of Chancery decision in Kellner v. AIM ImmunoTech, which had held that certain advance notice bylaw provisions were “facially invalid,” holding instead…more

Collective Bargaining, Exemptions, Local Ordinance, Part-Time Employees, Retail Workers

James Mead

Eric Meckley

Update: Amendments to San Francisco Retail Workers Bill of Rights Take Effect

Less than one week after the San Francisco Retail Workers Bill of Rights became effective, it was amended in several ways that impact employers’ compliance obligations going forward…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

Siobhan Mee

Texas Federal Court ‘Sets Aside’ FTC’s Noncompete Clause Rule

Judge Ada Brown of the US District Court for the Northern District of Texas entered a final judgment in Ryan LLC v. Federal Trade Commission (FTC) on August 20, 2024, holding unlawful and setting aside the FTC Noncompete Clause…more

Artificial Intelligence, Cybersecurity, Data Privacy, Data Protection, Data Security

Bansri Mehta Mccarthy

Optimizing AI: Strategies for Intelligent Management

Evaluating what intelligent management of artificial intelligence (AI) means for an organization requires analysis of various intersecting factors. First, stakeholders need to determine what counts as AI. That determination will…more

Artificial Intelligence, Innovative Technology, Machine Learning, Outsourcing, Technology Sector

Barbara Murphy Melby

Unlocking AI and Outsourcing: Strategies for Success

In today’s dynamic business landscape, outsourcing has become an indispensable tool for organizations seeking to streamline operations, cut costs, and access specialized expertise. Yet, as technology advances at an exponential…more

CARES Act, Coronavirus/COVID-19, Economic Injury Disaster Loans, Relief Measures, SBA

Christopher Melendez

COVID-19 Relief for Small Businesses – Existing Options (UPDATED)

Small businesses are among the hardest hit by the coronavirus (COVID-19) crisis and the shocks to consumer demand and supply resulting from the ensuing government orders to stay at home and close nonessential businesses. In…more

Christina Edling Melendi

FTC Settles Consumer Review Charges against Fashion Nova and Signals More Action to Come - Retail Did You Know?

The US Federal Trade Commission (FTC) has settled charges brought against Fashion Nova, LLC (Fashion Nova) under Section 5(a) of the FTC Act for failure to publish negative product reviews on its website. This edition of Morgan…more

Federal Trade Commission (FTC), FTC Act, Marketing, Online Reviews, Section 5

Coronavirus/COVID-19, Employer Liability Issues, Employer Responsibilities, International Labor Laws, Latin America

Thomas Mellor

Reopening Considerations for Latin America in the Time of COVID-19

As Latin America continues to manage the adverse economic effects resulting from the coronavirus (COVID-19) pandemic and prepares for what lies ahead, there are certain post-shutdown processes and regulatory requirements to keep…more

Artificial Intelligence, Department of Justice (DOJ), Fraud, Securities and Exchange Commission (SEC), Self-Disclosure Requirements

Zane David Memeger

DOJ Update : Financial Awards for Corporate Whistleblowers, Enhanced Penalties for Fraud Involving AI Misuse

The US Department of Justice (DOJ) continues to enhance its tougher-on-corporate-crime policy stance as first announced by Deputy Attorney General Lisa Monaco in 2021. In remarks on March 7 and March 8, DAG Monaco and Acting…more

Clinical Trials, Department of Health and Human Services (HHS), Food and Drug Administration (FDA), Life Sciences, Medical Devices

Scott Memmott

Manufacturers Should Carefully Evaluate OIG’s Approval of Medicare Cost Sharing Subsidies in Clinical Trials

At the end of last year, the US Department of Health and Human Services Office of Inspector General (OIG) issued an Advisory Opinion (AO 23-11, the Opinion) in which OIG approved an arrangement where a medical device…more

Comment Period, Environmental Social & Governance (ESG), Investment Company Act of 1940, Proposed Amendments, Public Comment

Christopher Menconi

The Name Game: SEC Proposes Expanding Scope of Registered Funds’ ‘Names Rule’

In a 3-1 vote, the US Securities and Exchange Commission on May 25 proposed amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Names Rule) that, if adopted as proposed, could cause new entrants and existing…more

Cryptocurrency, Digital Assets, Employer Liability Issues, International Labor Laws, United Arab Emirates (UAE)

Lisa Merod

Paying Salaries in Cryptocurrency in the UAE: A New Possibility?

A recent judgment from the Dubai Court of First Instance determined that part of an employee’s remuneration can be paid in cryptocurrency, but notably does not change the basic principle that cryptocurrencies cannot be the sole…more

Family Offices, Investment, Investment Management, Tax Planning

Christina Mesires Fournaris

10 Frequently Asked Questions on Starting a Family Office

In the last decade, family offices have become increasing popular vehicles among high-net-worth individuals and families looking for more formalized investment management, tax planning, estate planning, and philanthropic…more

Business Interruption, Commercial General Liability Policies, Insurance Industry, Liability Insurance, Policy Terms

Paul Mesquitta

Baltimore Bridge Collapse: Key Insurance Considerations for Impacted Businesses

The catastrophic collapse of the Baltimore Francis Scott Key Bridge resulted in the tragic loss of life, severed part of Interstate 695, and shut down one of the busiest ports in the United States. The disaster could become one…more

Acquisitions, Capital Markets, Initial Public Offering (IPO), Listing Rules, Mergers

Andrew Milano

A Look at the SPAC Market in 2022

A Special Purpose Acquisition Company (SPAC) is a blank-check company formed for the purpose of effecting a business combination with one or more businesses. While SPACs are not new, they have recently increased in prevalence…more

CA Supreme Court, Employer Liability Issues, Employment Litigation, State Labor Laws, Timekeeping

Barbara Miller

Rounding Employee Time in California—Even Via Neutral Policy—Creates Risk Under New Appellate Decision

Although prior California decisions have approved neutral rounding systems, Camp v. Home Depot U.S.A., Inc. questions that law when an employer can track employee clock times to the minute. Therefore, employers in California…more

Confidential Information, Disclosure Requirements, Health Care Providers, New Legislation, New York

Christopher Miller

New York State: Healthcare Entities Must Disclose Certain Material Transactions

As part of the New York State budget for fiscal year 2023–2024, the New York State Assembly amended the New York Public Health Law to impose new notification requirements related to material transactions involving physician…more

Deanne Miller

New Modifications to the Proposition 65 Regulations

The modifications significantly change both the AG’s Regulations and OEHHA’s Clear and Reasonable Warnings provisions. California’s Office of Administrative Law recently approved important changes to two sets of Proposition 65…more

Amended Regulation, Manufacturers, OEHHA, Proposition 65, Retailers

Steven Miller

Navigating PPP Loans In M&A Transactions (UPDATED)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government…more

CARES Act, Coronavirus/COVID-19, Eligibility, Federal Loans, Financial Stimulus

Biologics, Biosimilars, Food and Drug Administration (FDA), Intellectual Property Protection, IP License

Zachary Miller

Taking Advantage of the New Purple Book Patent Requirements for Biologics

New federal legislation will take effect this year that will require a reference product sponsor to submit to the FDA a list of any patents identified to a biosimilar applicant during the patent dance. The FDA is required to…more

Jason Mills

Legal Lessons Learned from Recent World Cups

The 2022 Men’s World Cup in Qatar and the 2023 Women’s World Cup in Australia and New Zealand set new standards for sustainability, human rights, and sponsorships—and with those new standards come new challenges…more

CFTC, Employee Rights, Greenhouse Gas Emissions, OSHA, Workplace Safety

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Scott Milner

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

Devon Minerve

Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

Biden Administration, Closely Held Businesses, Estate Planning, Estate Tax, Generation-Skipping Transfer

Francis Mirabello

The House Democrats’ Tax Plan – The Time for Estate Planning Is Now

The Democrats of the House of Representatives have released a much-anticipated tax plan that would significantly impact the federal estate and gift tax system. Importantly, the House could still amend this legislation and the…more

Employer Liability Issues, NLRB, NLRB General Counsel, Unfair Labor Practices, Union Organizers

Philip Miscimarra

New NLRB Rules Favor Mandatory Union Recognition & Limit Employee Voting in Secret-Ballot Elections

The National Labor Relations Board drastically changed the process for unions seeking recognition of most private sector employees in the United States. Abandoning 50 years of established law, in Cemex Construction Materials…more

Administrative Agencies, Administrative Law Judge (ALJ), Administrative Proceedings, Appeals, Appointments Clause

Christian Mixter

Supreme Court Provides One Answer about SEC Administrative Law Judges, but Leaves Many Questions

On June 21, in Lucia v. Securities and Exchange Commission, the US Supreme Court held that administrative law judges of the US Securities and Exchange Commission are not mere federal employees but qualify as “Officers of the…more

Best Practices, China, Coronavirus/COVID-19, Emergency Management Plans, Employer Liability Issues

Charles Mo

Responding to the 2019 Novel Coronavirus: Guidance for Multinational Employers in Hong Kong

With the situation surrounding the 2019 Novel Coronavirus (COVID-19) rapidly changing, multinational companies with operations in Hong Kong should be aware of how to handle challenging employment issues during this time…more

AL Supreme Court, Fertility Treatments, Human Embryos, Life Sciences, Reproductive Healthcare Issues

Sameer Mohan

Alabama Supreme Court Ruling on Frozen Embryos Raises Complex Questions for IVF and Fertility Industry

The Alabama Supreme Court recently ruled that frozen embryos, or “extrauterine children,” should be afforded the same legal protections as living children under a state wrongful death law…more

Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Helix Energy Solutions Group Inc v Hewitt No 21-984, Highly Compensated Employees

Stefanie Moll

US Supreme Court: Highly Compensated Employees Entitled to Overtime Unless FLSA Exemption Requirements Satisfied

In Helix Energy Solutions Group Inc. v. Hewitt, the US Supreme Court held (on the facts of that case) that an employer had improperly classified a supervisory employee earning more than $200,000 per year as an exempt “executive”…more

Airlines, Aviation Industry, Department of Transportation (DOT), Federal Aviation Administration (FAA)

R. Latane Montague

US Airline Industry Regulatory Updates: Avoiding Thunderheads in New FAA Reauthorization

The US aviation industry has been in the headlines recently with the passage of a comprehensive bill to authorize funding of the Federal Aviation Administration (FAA) for five more years as well as Department of Transportation…more

Advertising, Endorsements, Fake Reviews, Federal Trade Commission (FTC), FTC Endorsement Guidelines

David Monteiro

FTC Issues Final Rule on Consumer Reviews and Testimonials

Earlier this month, the Federal Trade Commission (FTC or Commission) published a final rule prohibiting certain specified unfair or deceptive acts or practices involving consumer reviews and testimonials. Effective October 21,…more

Climate Change, Corporate Governance, Disclosure Requirements, Environmental Social & Governance (ESG), Publicly-Traded Companies

Veronika Montes

The Future of Climate-related Disclosures for Multinational Companies

Climate change has become a top priority on the global agenda, prompting governments, businesses, and investors to take decisive action. Central to these efforts is the disclosure of sustainability risks— particularly…more

Jeffrey Moorad

New Opportunities for Investors in the Growing Women's Sports Sector

Investment in women’s sports has undergone a significant transformation in recent years, with the once underinvested market now commanding attention from sports fans and investors globally. The shift not only reflects the…more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

Kelly Moore

DOJ Criminal Division Launches Corporate Whistleblower Awards Pilot Program

The US Department of Justice’s (DOJ) Criminal Division on August 1 announced the details of its much-anticipated Corporate Whistleblower Awards Pilot Program. This three-year initiative aims to incentivize individuals to report…more

Nicholas Moore

UK Government Announces Funding for Innovative Companies, New COVID-19 Future Fund

The UK government has announced two new schemes for funding to innovative companies and startups, launching in May 2020…more

Business Formation, Coronavirus/COVID-19, Funding, Small Business, Startups

Yericca Morales

New York Expands False Claims Act Tax Liability for Non-Filers

New York Governor Kathy Hochul recently signed into law new legislation expanding the reach of the New York False Claims Act (NYFCA) to entities that fail to file tax returns in New York. Unlike the federal False Claims Act…more

False Claims Act (FCA), New York, Qui Tam, State Taxes, Tax Fraud

Decriminalization of Marijuana, Employee Rights, Marijuana, Off-Duty Employees, Recreational Use

Clare Moretti

Rhode Island Legalizes Recreational Marijuana and Protects Off-Duty Use for Employees

Rhode Island Governor Dan McKee signed a bill on May 25 legalizing recreational marijuana in the state. The law, which took effect immediately, prohibits basing adverse employment actions on off-duty marijuana use, unless…more

Sarah-Jane Morin

Treasury and the IRS Finalize Section 897 ‘Domestically Controlled’ Look-Through Rule

On April 24, the Internal Revenue Service (IRS) issued final regulations (Final Regulations) regarding Section 897. In December 2022, the IRS issued proposed regulations under Sections 897 (the Proposed Regulations) and 892 of…more

Income Taxes, Internal Revenue Code (IRC), IRS, Tax Planning, U.S. Treasury

Kimberley Morning

Providers: Are You Prepared for Broadband Label Requirements?

The Federal Communications Commission’s (FCC’s) broadband label requirements take effect as soon as April 10, 2024, but preparation to meet this deadline—including extensive documentation and information technology…more

Broadband, FCC, Labeling, Telecommunications

Board of Directors, Delaware General Corporation Law, Fiduciary Duty, Mergers, Shareholders

Brian Morris

Amendments to DGCL Proposed After Chancery Decisions on M&A Practice and Stockholder Agreements on Corporate Governance Rights

The Council of the Corporation Law Section of the Delaware State Bar Association has proposed amendments to the Delaware General Corporation Law that, if enacted by the General Assembly, will address issues raised in three…more

Anti-Corruption, Bribery, Corruption, Foreign Corrupt Practices Act (FCPA), Sports

Sandra Moser

Staying in Bounds: Compliance Considerations in the Sports Industry

In the complex and dynamic world of sports, legal compliance is crucial for maintaining integrity, ensuring fair play, and safeguarding the interests of all stakeholders. From anti-corruption measures to tax issues to antitrust…more

Banking Sector, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Depository Institutions, Financial Institutions

Joshua Moses

CFPB Finalizes New Rule to Monitor Nonbank ‘Repeat Offenders’

The Consumer Financial Protection Bureau (CFPB) recently finalized its proposed rule to create a so-called “Repeat Offender” registry for certain covered financial services providers and individuals violating federal, state, and…more

Automotive Industry, Connected Cars, Electric Vehicles, Manufacturers, National Security

Pejman Moshfegh

Evolving Regulatory Landscape for Connected Vehicles: Balancing Innovation with National Security

The US Department of Commerce’s Bureau of Industry and Security (BIS) took a potentially important step toward shaping the future of connected vehicles (CVs) by issuing an advance notice of proposed rulemaking (ANPRM) on…more

Business Disruption, Business Interruption, Business Losses, Civil Authority Coverage, Coronavirus/COVID-19

Jeffrey Moss

COVID-19 Business Interruption Losses: The Potential Keys to Unlocking Insurance Recovery

As the coronavirus (COVID-19) pandemic evolves, governmental executive and legislative authorities are taking actions in the form of emergency declarations and proposed legislation that could improve a company’s ability to…more

Oluwatomisin Mosuro

DIFC New Security Law: Creditors Beware

The Law of Security 2024 (New Law) came into effect in the Dubai International Financial Centre (DIFC) on 8 March 2024 (Effective Date), replacing the previous Law of Security 2005 (Old Law). Modelled after the UNCITRAL Model…more

Arbitration, DIFC, Dubai, UNCITRAL, United Arab Emirates (UAE)

Board of Directors, Breach of Duty, Fiduciary Duty, Venture Capital

Corey Mueller

Staying in the Fight: Getting Your Company Through the Down Round to the Next Round of Financing

A “down round” is when a company raises capital based on a valuation that is lower (often materially so) than the company’s valuation in one or more prior financing rounds. Depending on the severity of the situation, a “down…more

Michael Müller

Reaching Net Zero: The Role of Nuclear Energy in Industrial Operations

In the race to mitigate climate change and achieve net-zero emissions, the industrial sector currently faces immense challenges. One promising solution is the integration of nuclear energy into industrial operations. Here, we…more

Clean Energy, Climate Change, Energy Projects, Energy Sector, Nuclear Power

James Mulligan

Global IT Disruption Highlights Third-Party Risk Management Resiliency Considerations

In the weeks following a defective software update that disrupted several industries globally, including financial services, aviation, retail, and emergency services, remediation efforts remain ongoing while organizations look…more

Financial Services Industry, Risk Management, Software, Suppliers, Supply Chain

Capital Markets, Capital Raising, Initial Public Offering (IPO), Investment, Listing Rules

Karla Mullins

SPACs: Financial Conduct Authority Consults on Changes to UK Listing Regime

Key proposed changes to the UK listing regime include the removal of the presumption of suspension in trading in a SPAC’s shares when it announces a potential acquisition, subject to certain qualifying criteria being met…more

Anti-Competitive, Antitrust Violations, Corporate Counsel, Criminal Investigations, Department of Justice (DOJ)

Jordan Mundell

DOJ Antitrust Division Brings First Criminal Wage-Fixing Case: Continuing Enforcement on Labor Market Issues

A federal grand jury in Texas indicted the owner of a therapist staffing company on wage-fixing charges on December 9. Although this is the US Department of Justice’s first criminal wage-fixing prosecution, the indictment…more

Acquisitions, Antitrust Provisions, Competition, Competition Authorities, Corporate Counsel

Frances Murphy

Landmark Reforms to UK Competition and Consumer Protection Landscape Become Law

The Digital Markets, Competition and Consumers Act 2024 received Royal Assent on May 24, 2024, ushering in the most significant reforms to the UK’s competition and consumer protection laws in a generation. The Act introduces…more

General Partnerships, Institutional Limited Partners Association (ILPA), Limited Partnership Agreements, Limited Partnerships

Pauline Mutuc

ILPA Issues Guidance on Net Asset Value–Based Credit Facilities

The Institutional Limited Partners Association (ILPA) has released new guidance for limited partners (LPs) and general partners (GPs) on net asset value–based facilities (NAV Facilities). NAV-based lending, a type of financing…more

Acquisitions, Breach of Duty, Corporate Governance, Financial Industry Regulatory Authority (FINRA), Initial Public Offering (IPO)

Marlee Myers

The Future of SPACs: Increasing Litigation and Regulation

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms” complete mergers with or acquisitions of private…more

Environmental Social & Governance (ESG), Financial Services Agency, Financial Services Industry, Japan, Public Funds

Kyoko Nagano

FSA Responds to Public Comments on Its ESG Public Fund Guidelines

The Financial Services Agency of Japan (FSA) published its responses to public comments on the draft version of new guidelines on environmental, social, and governance (ESG) public funds on March 31. This LawFlash discusses…more

Asset Seizure, Court of International Trade, Customs and Border Protection, Enforcement Authority, Exclusion Orders

Eric Namrow

ITC Rescinds Seizure & Forfeiture Order after CIT Determines Redesign Does Not Infringe

A recent decision by the International Trade Commission (ITC) to temporarily rescind a seizure and forfeiture order after the Court of International Trade (CIT) granted summary judgment of non-infringement for certain redesigned…more

Algorithms, Artificial Intelligence, Department of Justice (DOJ), Federal Trade Commission (FTC), Innovative Technology

Kannan Narayanan

Global Regulators Issue Joint Statement on Competition in the Generative AI Sector

The European Commission, UK Competition and Markets Authority, US Department of Justice, and US Federal Trade Commission have issued for the first time a joint statement outlining their commitment to working together to create a…more

William Nash III

The Road Ahead: DFSA Seeks Market Feedback on the DIFC Credit Fund Regime

The Dubai Financial Services Authority (DFSA) has issued a consultation paper (CP 158) relating to proposed amendments to its Collective Investment Rules (CIR), which includes one proposed change in relation to credit funds, and…more

DFSA, DIFC, Dubai, Financial Services Industry, Investment Funds

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

Christine Nassauer

2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Broker-Dealer, Investment Adviser, Investment Advisers Act of 1940, Proposed Rules, Securities and Exchange Commission (SEC)

Eden Nebel

SEC Proposes Sweeping Rules on Broker-Dealer and Investment Adviser Technology Use

The US Securities and Exchange Commission (SEC) proposed on July 26, 2023 new rules designed to address conflicts of interest from the use of predictive data analytics in “investor interactions” by broker-dealers and investment…more

Gregory Needles

Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair…more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

Employer Liability Issues, Employment Policies, Human Resources Professionals, Labor Reform, Puerto Rico

Mayra Negrete

Amendments to 2017 Puerto Rico Labor Reform Annulled

Puerto Rico Act No. 41-2022 (Act 41), which amended and repealed certain more employer-friendly sections of the 2017 Labor Reform, was declared void by a federal judge on March 3, 2022. The decision renders Act 41, and any…more

Daniel Nelson

Treasury and the IRS Finalize Section 897 ‘Domestically Controlled’ Look-Through Rule

On April 24, the Internal Revenue Service (IRS) issued final regulations (Final Regulations) regarding Section 897. In December 2022, the IRS issued proposed regulations under Sections 897 (the Proposed Regulations) and 892 of…more

Income Taxes, Internal Revenue Code (IRC), IRS, Tax Planning, U.S. Treasury

Gregory Nelson

NLRB Issues New Joint Employer Rule Affirming Expansive Joint Employer Status

The NLRB recently published its final rule on the standard for determining joint employer status, broadening the circumstances under which separate businesses can be considered joint employers—thereby making them obligated to…more

Employer Liability Issues, Franchisee, Franchisors, Joint Employers, NLRB

Business Closures, Commerce Clause, Constitutional Challenges, Coronavirus/COVID-19, First Amendment

Heather Nelson

Constitutional Challenges to State Actions in Response to COVID-19

State government actions in response to the coronavirus (COVID-19) pandemic—from closing businesses and limiting travel to lifting those restrictions—raise potential constitutional questions. Federal lawsuits challenging the…more

Anti-Dumping Duty, Court of International Trade, False Claims Act (FCA), Qui Tam

James Nelson

Ninth Circuit Considers Whether False Claims Act Applies to Customs Violations

In a recent development in Island Industries, Inc. v. Sigma Corp.—a nonintervened False Claims Act (FCA) qui tam action based on an alleged failure to pay antidumping duties—the Ninth Circuit, post–oral argument, ordered…more

Banking Sector, FATCA, Final Rules, Financial Conduct Authority (FCA), Financial Institutions

Sarah Nelson

Final Treasury Regulations Published on Transition from IBORs to Qualified Rates

The Internal Revenue Service and the US Treasury Department have issued final regulations providing rules for taxpayers transitioning from interbank offered rates to qualified rates. These regulations provide financial…more

Business Interruption, Commercial General Liability Policies, Critical Infrastructure Sectors, Cyber Attacks, Cyber Insurance

W. Brad Nes

Mitigating Energy Sector Risks Through Cyberinsurance

Energy companies in the power and oil and gas sectors are leading targets of cyberattacks, as threats to critical infrastructure systems continue to rise. A 2021 report by a third-party cyberrisk company found that a quarter of…more

Alena Neskoromyuk

Saudi Arabia Personal Data Protection Law: Transition Period Ends September 14

The one-year transition period granted to bring businesses’ activities into compliance with the Personal Data Protection Law of the Kingdom of Saudi Arabia is about to end on September 14, 2024. Given the law’s extraterritorial…more

Cybersecurity, Data Privacy, Data Protection, Personal Data, Saudi Arabia

Biden Administration, Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Offshore Wind

Laura Neumeister Wright

US Offshore Wind Roundup as of March 2023

Despite global economic headwinds, the US offshore wind industry has continued to slowly but steadily blossom, driven largely by enhanced vision and cooperation among federal government agencies under the Biden administration,…more

Financial Services Industry, Monetary Authority of Singapore, Payment Systems, Singapore

Gina Ng

Singapore Revises Its Guidelines on Licensing for Payment Service Providers

The Monetary Authority of Singapore (MAS) published updates to its Guidelines on Licensing for Payment Service Providers [PS-G01] (the Guidelines), which will take effect on August 26, 2024. The revisions to the Guidelines are…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Joo Khin Ng

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Vanessa Ng

Singapore Personal Data Protection Act Changes Have Implications for Healthcare Sector

Key amendments to the Singapore Personal Data Protection Act take into account technological advances, new business models, and global developments in data protection legislation, and will have an effect on healthcare providers…more

Cybersecurity, Data Breach, Data Privacy, Data Protection, Data Security

Fund Managers, Investors, Monetary Authority of Singapore, Singapore

Alvin Ngai

Monetary Authority of Singapore Set to Repeal Registered Fund Management Companies Regime

The Monetary Authority of Singapore (MAS) intends to repeal the Registered Fund Management Companies (RFMCs) regime to streamline fund management regulations. Ahead of this substantial change, the MAS has launched a public…more

Business Closures, California, Coronavirus/COVID-19, Critical Infrastructure Sectors, Emergency Management Plans

Lauren Nikkhah

California’s Regional Stay-at-Home Order Takes Effect December 5

Governor Gavin Newsom announced a regional stay-at-home order on December 3 in response to the unprecedented surge of coronavirus (COVID-19) cases in California. The order, which takes effect December 5, is triggered for any…more

CARES Act, Consolidated Appropriations Act (CAA), Coronavirus/COVID-19, Infectious Diseases, Loan Forgiveness

Shah Nizami

Spending Bill Revives Paycheck Protection Program for US Small Businesses

The US Congress has passed a spending bill that includes $285 billion to extend and expand the Paycheck Protection Program, providing new first-time loans and adding second-draw loans to help support small businesses…more

CA Supreme Court, Class Action, Employer Liability Issues, Employment Litigation, Labor Code

Eva Nofri

California Supreme Court: Trial Courts Lack Authority to Strike or Dismiss PAGA Claims on Manageability Grounds

In Estrada v. Royalty Carpet Mills Inc., a unanimous decision by the California Supreme Court resolves a split between California courts of appeal by ruling that a trial court does not have inherent authority to strike PAGA…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

Thomas Nolan

2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Amended Regulation, Cybersecurity, Cybersecurity Information Sharing Act (CISA), Data Breach, Regulation S-P

Catherine North Hounfodji

SEC’s New Data Breach Requirement Increases Obligations for Financial Services Companies

The US Securities and Exchange Commission has adopted amendments to Regulation S-P requiring entities under its remit to provide notice to individuals affected by certain types of data breaches. This adds yet another obligation…more

Alternative Minimum Tax, Corporate Taxes, Foreign Tax Credits, Inflation Reduction Act (IRA), International Tax Issues

Douglas Norton

Inflation Reduction Act Creates New Corporate Minimum Tax

The Inflation Reduction Act of 2022, signed by US President Joseph Biden on August 16, 2022, includes a new alternative minimum tax for corporations with profits of more than $1 billion…more

Form N-CEN, Form N-PORT, Investment Companies, Investment Company Act of 1940, Liquidity

Jonathan Nowakowski

SEC Amends Registered Fund Reporting Requirements, Issues Guidance on Liquidity Risk Management Programs

The US Securities and Exchange Commission (SEC), by a 3-2 vote, recently adopted amendments to registered fund reporting requirements on Form N-PORT and Form N-CEN and provided guidance on open-end funds’ liquidity risk…more

Courtney Nowell

California Law Will Obligate VC Firms to Report Portfolio Company Diversity Metrics

California Governor Gavin Newsom recently signed Senate Bill 54, which aims to increase diversity among founders that are backed by venture capital (VC) companies. If implemented in its current version, SB 54 will likely apply…more

California, Governor Newsom, Investors, Startups, Venture Capital

Coronavirus/COVID-19, Employer Liability Issues, Hiring & Firing, Layoff Notices, Layoffs

Joseph Nuccio

New Jersey's WARN Act Amended to Provide Relief to Employers Conducting Mass Layoffs

Governor Phil Murphy signed a suite of new laws on April 14 in response to the coronavirus (COVID-19) pandemic, including an amendment to New Jersey’s WARN Act providing relief to employers that conduct mass layoffs as a result…more

Bureau of Industry and Security (BIS), Commerce Control List, ECCNs, Export Administration Regulations (EAR), Export Controls

Kenneth Nunnenkamp

US Expands Controls on Quantum, Semiconductor Tech to Secure Industry Leadership

The US Department of Commerce’s Bureau of Industry and Security (BIS) published an Interim Final Rule (IFR) on September 6, 2024 to implement worldwide export controls on quantum computing, semiconductor, addictive computing,…more

John O'Brien

Deciphering FinCEN’s New Anti-Money Laundering Rules for Advisers

On August 28, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) adopted a final rule that subjects investment advisers to anti-money laundering/countering the financing of terrorism…more

AML/CFT, Anti-Money Laundering, Final Rules, FinCEN, Money Laundering

Employer Liability Issues, Essential Functions, Fair Labor Standards Act (FLSA), Job Duties, Labor Regulations

Shane O'Halloran

Ninth Circuit Finds Time Booting Up Computers May Be Compensable for Call Center Workers

The US Court of Appeals for the Ninth Circuit (which covers California, Nevada, Arizona, Alaska, Hawaii, Idaho, Montana, Oregon, and Washington) held on October 24 in a unanimous published opinion that because call center…more

Best Management Practices, Centers for Disease Control and Prevention (CDC), Disaster Preparedness, Ebola, Health Insurance Portability and Accountability Act (HIPAA)

Georgina O'Hara

Employers: How Prepared Are You for Ebola?

Rapidly changing circumstances raise workplace questions. The Ebola epidemic in 2014 has already been confirmed by the U.S. Centers for Disease Control (CDC) as the worst in history. The extent of this outbreak is still…more

Katherine O'Keefe

Proposed H-1B Modernization – A Conversation with Shannon Donnelly

As part of our Spotlight series, we invited Shannon Donnelly, a partner in our Washington, DC office who works with clients on a wide range of complex global immigration and mobility issues, to discuss the proposed H1B…more

Foreign Nationals, Foreign Workers, H-1B, Immigrants, Immigration Procedures

Disclosure Requirements, Failure To Disclose, Macquarie Infrastructure Corp v Moab Partners LP, Omissions, Rule 10(b)

Robert O'leary

US Supreme Court Holds ‘Pure Omissions’ Not Actionable Under 10(b) of Securities Exchange Act, Resolving Circuit Split

In a blow to the plaintiffs’ securities bar, the US Supreme Court in Macquarie Infrastructure Corp. v. Moab Partners unanimously held that a “pure omission”—the failure to disclose information in the absence of an inaccurate,…more

Breach of Contract, Common Law Torts, Computer Fraud and Abuse Act (CFAA), Corporate Counsel, Estoppel

Carla Oakley

LinkedIn v. hiQ: Landmark Data Scraping Suit Provides Guidance to Data Scrapers and Web Operators

Following up on our April 27, 2022 post, Data Scraping Deemed Legal in Certain Circumstances, the most significant data scraping lawsuit has finally come to an end. After six years of litigation, LinkedIn Corp. and hiQ Labs,…more

Environmental Protection Agency (EPA), Groundwater, Insurance Industry, Water

Sergio Oehninger

Electric Utilities Affected by Recent EPA Regulation May Benefit from Legacy Liability Insurance Policies

The US Environmental Protection Agency (EPA) on May 8, 2024 expanded the obligations of coal-fired power plants to remediate coal ash-related groundwater impacts with amendments to the federal Coal Combustion Residual (CCR)…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

Haniel Ogburu-Ogbonnaya

Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

Samantha Ojo

Legal Lessons Learned from Recent World Cups

The 2022 Men’s World Cup in Qatar and the 2023 Women’s World Cup in Australia and New Zealand set new standards for sustainability, human rights, and sponsorships—and with those new standards come new challenges…more

CFTC, Employee Rights, Greenhouse Gas Emissions, OSHA, Workplace Safety

Sandhal Olds

USPTO Provides Guidance for Design Patent Applications Directed to Computer-Generated Electronic Images

The US Patent and Trademark Office (USPTO) published supplemental guidance on whether a design claim including a computer-generated electronic image is directed to statutory subject matter. While the USPTO’s examination of…more

Design Patent, Patent Applications, Patents, USPTO

Administrative Procedure Act, CFTC, Chevron Deference, Chevron v NRDC, Government Agencies

Caitlin S. Onomastico

Financial Regulation in a Post-Chevron World: What’s Next?

The US Supreme Court’s decision in Loper Bright Enters. v. Raimondo and Relentless v. Department of Commerce has raised questions regarding the future of financial services regulation, including by the US Securities and Exchange…more

Business Entities, Intellectual Property Protection, Investors, Patent Applications, Patents

Alia Orbin, Ph.d.

USPTO Clarifies and Expands Small Entity Status Exceptions

The US Patent and Trademark Office (USPTO) announced on December 4 a rule change to clarify and expand exceptions to small entity status, which primarily affects the fees that the USPTO charges patent applicants…more

American Depository Receipts (ADRs), Department of Justice (DOJ), Enforcement Actions, Foreign Corrupt Practices Act (FCPA), Sovereign Wealth Funds

Andres Paciuc

Sovereign Wealth Funds and the FCPA: The Importance of Targeted Due Diligence

Given the global nature of sovereign wealth funds’ (SWFs’) investments and operations, it is essential that SWFs are aware of and in compliance with the Foreign Corrupt Practices Act (FCPA) in order to facilitate business with…more

Coronavirus/COVID-19, Employer Liability Issues, Employer Mandates, Employment Policies, Remote Working

Samantha Padilla

Navigating Remote Work and Vaccine Mandates in Latin America: A Road Map for the Region

Faithful to the historically employee-friendly nature of laws and courts in the region, most regulators in Latin America are adopting policies to protect remote workers and their constitutional rights to make unpressured…more

Yesul Pae

US Supreme Court Adopts Narrow Reading of TCPA’s Autodialer Ban: Four Things to Know

The US Supreme Court in Facebook, Inc. v. Duguid unanimously held on April 1 that the Telephone Consumer Protection Act’s definition of an autodialer is limited to systems that have the capacity either to store a telephone…more

ATDS, Auto-Dialed Calls, Corporate Counsel, Facebook, Facebook Inc v Duguid

Financial Conduct Authority (FCA), Financial Services Industry, Greenwashing, UK, UK Competition and Markets Authority (CMA)

Michelle Page

UK Financial Conduct Authority Adopts New Anti-Greenwashing Rule and Guidance

The UK Financial Conduct Authority (FCA) recently adopted a new anti-greenwashing rule, alongside supplemental guidance, requiring that financial service businesses regulated by the FCA ensure that any sustainability claims…more

Antitrust Provisions, Competition, Department of Justice (DOJ), Federal Trade Commission (FTC), Merger Controls

Vincent Papa

FTC Votes to Rescind Vertical Merger Guidelines, No Replacement Announced

The US Federal Trade Commission (FTC) recently voted to withdraw its approval of the Vertical Merger Guidelines (the 2020 VMGs), which, as we covered in the past, the FTC and Department of Justice (DOJ) issued over a year ago on…more

Corporate Issuers, Disclosure Requirements, Public Offerings, Securities Act of 1933, Securities and Exchange Commission (SEC)

Kevin Papay

Ninth Circuit Holds That Social Media Posts Can Give Rise to Securities Act Liability

The US Court of Appeals for the Ninth Circuit recently held that a person who makes social media posts promoting securities—motivated at least in part by their own financial interests or those of the securities’ owner—is…more

Ascertainable Class, Breach of Contract, Breach of Implied Contract, Class Action, Class Certification

Matthew Papkin

COVID-19: Court Denies Motion for Class Certification in Ticket Refund Case

A federal district court in Florida denied a plaintiff’s motion for class certification in a putative class action asserting claims on behalf of ticket purchasers against Viagogo, a secondary ticket marketplace platform, for…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Chris Paridon

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

Collin Park

PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

E. John Park

Corporate Venture Capital Survey: Q1 2024

While the economic terms of each investment will be unique based on the distinct facts and circumstances of the companies and investors participating, the Q1 2024 corporate venture capital survey indicates that the overall…more

Financing, Investment, Investors, Startups, Venture Capital

California Consumer Privacy Act (CCPA), Consumer Privacy Rights, Cybersecurity, Data Collection, Data Privacy

Gene Park

Responding to Requests to Delete - Morgan Lewis Practical Advice on Privacy: Guide to the CCPA

The recently proposed regulations implementing the California Consumer Privacy Act (CCPA) “establish procedures to facilitate consumers’ new rights under the CCPA and provide guidance to businesses for how to comply.” This…more

Cal-OSHA, Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, Public Health, Re-Opening Guidelines

Julianne Park

California Will Move Beyond the Blueprint for a Safer Economy, Effective June 15, 2021

The California Department of Public Health (CDPH) announced the state will move beyond the Blueprint for a Safer Economy, allowing businesses to return to usual operations (with limited exceptions for Mega Events), effective…more

Min Woo Park

Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true…more

Investment, Investors, Japan, Limited Partnerships, Partnerships

Asset-Backed Securities, Borrowers, CARES Act, Collateral, Collateralized Loan Obligations

Samuel Park

Updated Guide to the 2020 Term Asset-backed Securities Loan Facility (TALF) Program (UPDATED)

The US Treasury Department and the Federal Reserve Bank of New York (the New York Fed) have announced the complete terms of a new Term Asset-Backed Securities Loan Facility (TALF) program, which is intended to address the…more

Gregory Parks

The Framework of a Strong Family Office Cybersecurity Strategy

Cybersecurity is a critical element of effective family office operations management, yet many family offices need to further prepare for the range of cybersecurity threats they may face. Family offices manage significant assets…more

Cyber Crimes, Cybersecurity, Data Breach, Data Privacy, Data Protection

Department of Labor (DOL), Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Final Rules

Christopher Parlo

Department of Labor Issues Final Rule Raising Salary Level for FLSA ‘White Collar’ Exemptions

On April 24, 2024, the US Department of Labor (DOL) announced the highly anticipated revisions to the salary thresholds for the Fair Labor Standards Act’s (FLSA’s) “white collar” overtime exemptions. The update significantly…more

ABC Test, Employer Liability Issues, Fair Labor Standards Act (FLSA), Federal Trade Commission (FTC), Franchises

Mary Grace Parsons

Massachusetts High Court Issues Three Major Wage and Hour Decisions

The Massachusetts Supreme Judicial Court recently issued three decisions with significant implications for employers in the commonwealth, holding that (1) when an employer pays wages to an employee after the deadlines provided…more

Alexey Pashinskiy

DIFC New Security Law: Creditors Beware

The Law of Security 2024 (New Law) came into effect in the Dubai International Financial Centre (DIFC) on 8 March 2024 (Effective Date), replacing the previous Law of Security 2005 (Old Law). Modelled after the UNCITRAL Model…more

Arbitration, DIFC, Dubai, UNCITRAL, United Arab Emirates (UAE)

John Pease III

Despite Snyder Ruling, Gratuities Still an Issue for Government Contractors

The US Supreme Court’s June 26 ruling in Snyder v. United States clarified that the primary federal law regulating state and local corruption, 18 USC § 666, does not bar state and local officials from accepting…more

Bribery, Corruption, Federal Contractors, Public Corruption, Public Officials

Department of Defense (DOD), Department of Justice (DOJ), False Claims Act (FCA), Federal Contractors

Michelle Pector

False Claims Act: Defense-related Enforcement in Fy 2023 and on the Horizon

The headlines from the US Department of Justice’s (DOJ’s) recently released fiscal year 2023 civil fraud statistics may, on the surface, seem unremarkable. Indeed, the $2.7 billion topline number—reflecting total recoveries from…more

Employer Liability Issues, Equal Pay, Gender Equity, International Labor Laws

Laetitia de Pelet

Gender Equality at Work: Where Does France Stand?

March is a good month to take stock of gender equality (or inequality) in the corporate world. While this is in part due to International Women's Day, in France, March also means the publishing of corporate gender equality index…more

Eleanor Pelta

US Department of State Releases September 2024 Visa Bulletin

The US Citizenship and Immigration Services (USCIS) will use the Final Action Dates for Employment-Based Adjustment of Status Applications chart in September 2024. The Final Action Dates chart reflects significant EB-3…more

EB-1, EB-2, EB-3, Foreign Nationals, Foreign Workers

Compliance, Cooperation, Corporate Misconduct, Department of Justice (DOJ), Self-Disclosure Requirements

Victora Peng-Rue

US Attorneys Emphasize Benefits of New Voluntary Self-Disclosure Policy

Assistant Attorney General (AAG) Kenneth A. Polite Jr. of the US Department of Justice’s (DOJ’s) Criminal Division recently joined several high-profile, diverse US Attorneys at the inaugural Charlotte E. Ray Lecture and White…more

Department of Energy (DOE), Energy Sector, FERC, Liquid Natural Gas, Natural Gas

Patrick Pennella

US Senate Advances Energy Infrastructure Permitting Bill

The US Senate Committee on Energy and Natural Resources has advanced the Energy Permitting Reform Act of 2024, a bipartisan energy bill that would facilitate permitting for energy infrastructure and mining projects…more

Breach of Contract, Commercial Contracts, Contract Terms, Performance Standards

Eric Pennesi

Excuse from Performance in Commercial Contracts Part 2: Sorry, Not Sorry

In part one, we discussed key considerations for the possible inclusion of commercial contract provisions affording a party with excusal/relief from liability for nonperformance of an obligation that it otherwise would have been…more

Amelia Pennington

NFTs: What's in Store for 2022?

2021 was a banner year for non-fungible token sales, which are projected to climb even higher in 2022. Selected by Collins English Dictionary as the 2021 Word of the Year, non-fungible tokens (NFTs) are unique blockchain-based…more

Art, Artists, Blockchain, Copyright, Cryptocurrency

Benjamin Pensak

Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational…more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

Employer Liability Issues, Job Applicants, Pay Transparency, State Labor Laws, Wage and Hour

Anna Perocchi

Massachusetts Passes Pay Transparency Law: Considerations for Employers

Effective July 31, 2025, employers with 25 or more employees in the Commonwealth of Massachusetts must disclose a salary range when posting a job and provide pay range information to certain employees and applicants. In passing…more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

Jessica Perry

Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

William Peterson

Impact on IP Law in the Wake of US Supreme Court’s Decision

The US Supreme Court’s June 28, 2024 decision in Loper Bright Enterprises v. Raimondo and Relentless Inc. v. Department of Commerce overruled the forty-year-old Chevron U.S.A. Inc. v. Natural Resources Defense Council Inc…more

Civil Monetary Penalty, Department of Health and Human Services (HHS), Enforcement Actions, Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

John Petrelli

Fifth Circuit Vacates Civil Money Penalty, Finds MD Anderson in Compliance with HIPAA

The US Court of Appeals for the Fifth Circuit issued its ruling in the landmark HIPAA case between The University of Texas MD Anderson Cancer Center (MD Anderson) and the US Department of Health and Human Services (HHS). The…more

Artificial Intelligence, Digital Health, Food and Drug Administration (FDA), Life Sciences, PHI

Vito Petretti

Key Contract Considerations and Trends: Buying, Selling, and Integrating With Digital Health Solutions

These are exciting times for the advancement of healthcare, whether you’re a hospital, health system, or healthcare technology company or a consumer that benefits from the proliferation of products and services provided. In…more

Mary A. Petrovic

Recent Updates Regarding the Special Financial Assistance Program

Recent action taken by the Pension Benefit Guaranty Corporation (PBGC) and the US Department of Labor (DOL) will affect plans that are eligible for, or have received, special financial assistance (SFA). SFA-eligible plans should…more

Department of Labor (DOL), Employee Benefits, PBGC, Pensions, Retirement Plan

Intellectual Property Protection, Inventions, Patent Applications, Patents, USPTO

Benjamin Pezzner

Practical Applications of Recent USPTO Patent Eligibility Examples

The United States Patent and Trademark Office (USPTO) has released new guidance on patent subject matter eligibility (the Guidance), with a particular focus on artificial intelligence (AI) and related technologies. As noted by…more

Artificial Intelligence, Innovative Technology, Machine Learning, Outsourcing, Technology Sector

Michael Pfeuffer

Unlocking AI and Outsourcing: Strategies for Success

In today’s dynamic business landscape, outsourcing has become an indispensable tool for organizations seeking to streamline operations, cut costs, and access specialized expertise. Yet, as technology advances at an exponential…more

CA Supreme Court, Employer Liability Issues, Labor Code, State Labor Laws, Wage and Hour

Hailey Phelan

California Supreme Court Ruling Gives Guidance on Compensable Time Under California Law

The California Supreme Court issued its decision in Huerta v. CSI Electrical Contractors, providing further guidance to employers on when employee time spent in (1) security exit procedures, (2) traveling on employer property,…more

CFTC, Civil Monetary Penalty, Enforcement Actions, Swap Dealers

Michael Philipp

CFTC Releases New Blueprint for Enforcement: Higher Penalties, Monitors, Admissions

The Division of Enforcement of the US Commodity Futures Trading Commission (CFTC or Commission) published on October 17, 2023 an advisory to assist its staff in recommending future enforcement resolutions to the Commission (the…more

Employer Liability Issues, NLRB, Quickie Election Rules, Union Elections, Unions

Kelcey Phillips

National Labor Relations Board Reinstates ‘Quickie’ Election Rules

In a move that marks the return of the Board’s “quickie” election rules, the National Labor Relations Board has announced changes to its representation-case procedures that will dramatically accelerate the pre-election timeline…more

Chief Information Security Officer (CISO), Cybersecurity, Financial Industry Regulatory Authority (FINRA), SEC v Jarkesy, Securities and Exchange Commission (SEC)

Zoe Phillips

Securities Enforcement Roundup – July 2024

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from last month. In July 2024: A district court dismissed several of the SEC’s claims against…more

Peter Phleger

California Law Will Obligate VC Firms to Report Portfolio Company Diversity Metrics

California Governor Gavin Newsom recently signed Senate Bill 54, which aims to increase diversity among founders that are backed by venture capital (VC) companies. If implemented in its current version, SB 54 will likely apply…more

California, Governor Newsom, Investors, Startups, Venture Capital

Economic Sanctions, Exports, Foreign Policy, Mexico, Office of Foreign Assets Control (OFAC)

Cullen Pick

Mexican Companies Face Risk of Secondary Sanctions From Mexican President’s Offer to Sell Gasoline to Venezuela

Mexican President Andrés Manuel López Obrador recently announced that Mexico is willing to ship gasoline to Venezuela notwithstanding the threat of US sanctions against such activity…more

Emily Pickering

IRS Announces Increased Gift and Estate Tax Exemption Amounts for 2024

The US Internal Revenue Service has announced that the annual gift tax exclusion is increasing in 2024 due to inflation. The exclusion will be $18,000 per recipient for 2024—the highest exclusion amount ever…more

Estate Planning, Estate Tax, Estate-Tax Exemption, Gift Tax, Gift-Tax Exemption

Mike Pierides

Global IT Disruption Highlights Third-Party Risk Management Resiliency Considerations

In the weeks following a defective software update that disrupted several industries globally, including financial services, aviation, retail, and emergency services, remediation efforts remain ongoing while organizations look…more

Financial Services Industry, Risk Management, Software, Suppliers, Supply Chain

Ulises Pin

Treasury Proposes Rule to Expand CFIUS’s Real Estate Jurisdiction

The US Department of the Treasury on July 8, 2024 proposed updates to the Committee on Foreign Investment in the United States’s (CFIUS’s) regulations that seek to expand the list of military installations for which proximity…more

CFIUS, Cross-Border Transactions, FIRRMA, Foreign Investment, Investors

Administrative Law Judge (ALJ), Broker-Dealer, CFTC, Cybersecurity, Disgorgement

Jason Pinney

Current Developments in Sec and Finra Examinations & Enforcement 2022–2023 - A Special Report for Investment Advisers and Broker-Dealers

Registered entities continued to be a significant focus of the US Securities and Exchange Commission’s (SEC’s or Commission’s) enforcement and rulemaking programs in 2022, and we expect similar attention this year. The SEC’s…more

CFIUS, Department of Homeland Security (DHS), Department of Justice (DOJ), Export Control Reform Act (ECRA), Export Controls

David Plotinsky

US House of Representatives Holds ‘China Week’ – What Happened and What’s Next?

With federal elections and the conclusion of the 118th Congress drawing near, “China Week,” as dubbed by House leadership, presented one of the final opportunities for the US House of Representatives to act on a variety of…more

Maciej Bernard Plotka

EU Launches First In-Depth M&A Investigation Under Foreign Subsidies Regulation

The European Commission is inquiring into a United Arab Emirates-based company just months after its first investigations under the Foreign Subsidies Regulation of various Chinese companies participating in EU tenders…more

Acquisitions, Competition, Corporate Counsel, EU, Foreign Subsidies

Biologics, Biosimilars, BPCIA, Food and Drug Administration (FDA), Patent Infringement

Kelly Plummer, Ph.d.

Blockbuster Biologics - Review Issue 24

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to…more

Corporate Governance, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG), Proxy Season, Proxy Statements

Karen Pieslak Pohlmann

A Proxy Season Wrap-up: Shareholder Proposals Target ESG and Equity Audits

In recent years, there has been a steady increase in shareholder proposals that target a public company’s ESG commitments, including diversity and inclusion data, environmental or emission programs, and community engagement. As…more

Electricity, Energy Sector, Nuclear Power, Nuclear Regulatory Commission, Power Plants

Thomas Poindexter

NRC Approves Staff Withdrawal of Recommendations on Reactor Oversight Program Improvements

The NRC’s Commissioners approved an NRC Staff request on August 5 to withdraw two SECY memoranda related to improvements of the effectiveness and efficiency of the Reactor Oversight Process (ROP). These SECY papers were…more

Department of Energy (DOE), Energy Reorganization Act, Energy Sector, IAEA, Nuclear Power

Alex Polonsky

Nuclear Energy Mid-Year Report: Navigating the Changing Nuclear Landscape in 2024

The first half of 2024 has been a dynamic period for the nuclear energy industry, marked by significant legislative and regulatory developments, evolving enforcement trends, and a continued focus on innovation and public safety…more

Abitron Austria GmbH v Hetronic International Inc, Extraterritoriality Rules, Foreign Sales, Intellectual Property Protection, Lanham Act

Anita Polott

Lanham Act Only Extends to Claims Stemming from US Conduct that Causes a Likelihood of Confusion

The US Supreme Court unanimously overturned a $90 million verdict for trademark infringement under the Lanham Act, 97% of which was attributed to purely extraterritorial conduct. While the holding attempts to draw a bright-line…more

Anna Pomykala

Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair…more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

Zaitun Poonja

Five Common Mistakes Private Companies Make When Granting Stock Options

Private companies grant stock options to their employees as a way to retain and motivate them and to reward their employees for the company’s success. Included below are five common mistakes we have come across…more

Executive Compensation, Securities, Stock Options, Stocks

Business Interruption, Business Losses, Commercial Insurance Policies, Infectious Diseases, Insurance Claims

Christopher Popecki

Maximizing Insurance Assets Amid Extreme Weather Conditions

With recent severe weather events in Texas and other states causing significant property damage and business disruptions, companies should consider how their insurance coverage, including business interruption and supply chain…more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds

T. Peter R. Pound

Fifth Circuit Vacates SEC Private Fund Adviser Rules in Full

In a unanimous decision published on June 5, 2024, the US Court of Appeals for the Fifth Circuit vacated the entire set of regulations, including amendments to existing rules (collectively, the Rules), adopted by the US…more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

Sandra Praxmarer

2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,…more

Beneficial Owner, Corporate Transparency Act, Financial Crimes, FinCEN, Reporting Requirements

James Preston

US District Court Declares Corporate Transparency Act Is Unconstitutional

The US District Court for the Northern District of Alabama issued a landmark decision on March 1, 2024 in which it held that the Corporate Transparency Act (CTA) is unconstitutional. In the opinion, Judge Liles Burke held that…more

Anti-Competitive, Antitrust Provisions, Competition, Federal Trade Commission (FTC), Private Equity Firms

Adam Prince

FTC Sues Private Equity Firm Over Alleged Anticompetitive Scheme Involving Roll-up Acquisitions

The US Federal Trade Commission is suing US Anesthesia Partners Inc. and its private equity founder for allegedly enacting an anticompetitive scheme to gain market power through a series of roll-up acquisitions…more

Comment Period, Intellectual Property Protection, Patent Infringement, Patent Litigation, Patents

Alyssa Pugh

An Expansion to the Experimental Use Exception to Patent Infringement in the Works?

The US Patent and Trademark Office is requesting public feedback on the current experimental use exception’s impact on technology sectors—and the public’s appetite for expanding the exception…more

Department of Labor (DOL), Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Final Rules

Michael Puma

Department of Labor Issues Final Rule Raising Salary Level for FLSA ‘White Collar’ Exemptions

On April 24, 2024, the US Department of Labor (DOL) announced the highly anticipated revisions to the salary thresholds for the Fair Labor Standards Act’s (FLSA’s) “white collar” overtime exemptions. The update significantly…more

Ivan Qiu

European Council Issues Guidance on Recently Imposed ‘No Russia’ Clause for EU Exporters

EU-based aircraft owners and lessors, among other exporters, will soon have to incorporate a “No Russia” clause in their contracts with non-EU counterparties for the sale, supply, transfer, or export of aircraft and aircraft…more

Economic Sanctions, EU, Export Controls, Exporters, Exports

Compensation & Benefits, Computer Programmers, Consumer Price Index, Department of Industrial Relations, Department of Labor (DOL)

Michelle L. Quach

California Announces 2022 Increase in Compensation Rate for Computer Professional Exemption

California employers must ensure that compensation rates for computer professionals meet updated salary thresholds, as of January 1, 2022. The California Department of Industrial Relations (DIR) issued a memo on October 18,…more

Climate Change, Draft Guidance, Energy Projects, Greenhouse Gas Emissions, Infrastructure

Deborah Quick

CEQ Issues Draft Guidance on Evaluation of Greenhouse Gas Emissions

The guidance will significantly affect infrastructure projects located on federal land and federal permitting of major energy projects. On December 18, the White House’s Council on Environmental Quality (CEQ) issued draft…more

Employer Liability Issues, Employment Contract, NJ Supreme Court, Non-Disclosure Agreement, Non-Disparagement Provisions

P. Bart Quintans

New Jersey Supreme Court Decision Requires Review of Non-Disparagement Agreements

On May 7, 2024, the New Jersey Supreme Court ruled that non-disparagement provisions precluding discussion of discrimination, retaliation, or harassment claims are unenforceable. We delve into the Court’s reasoning, as well as…more

Employment Eligibility Verification, Foreign Workers, H-1B, Immigration Procedures, US Department of State

Annamaria Racota

State Department to Launch Stateside Visa Renewal Pilot Program in Late January – Publications

The US Department of State announced on December 21 the launch of a stateside visa renewal pilot program, which will be limited to approximately 20,000 nonimmigrant visa holders during its initial pilot run, which starts on…more

Alternative Reference Rates Committee (ARRC), Benchmarks, Consumer Financial Products, Financial Contracts, ICE Benchmark Administration (IBA)

Kurt Rademacher

New York Enacts Legislative ‘Fix’ for Legacy LIBOR Contracts Governed by NY Law; Will a Federal Fix Be Next?

The State of New York has enacted a new law that should ease the transition away from US dollar LIBOR for legacy financial contracts that are governed by New York law but do not contain modern benchmark fallback provisions…more

Environmental Social & Governance (ESG), Germany, Reporting Requirements, Stock Corporations

Leon Gabriel Rady

German Braunschweig Higher Regional Court Rules on Statutory ESG Reporting Obligations for Stock Corporation Management Boards

In a decision dated May 8, 2023 (case reference: 2 W 25/23), the Braunschweig Higher Regional Court (OLG) addressed the question of whether specific ESG reporting obligations can be provided for in the articles of association of…more

Joseph Ragaglia

Trump National Labor Relations Board Reverses Major Obama-Era Decisions

With the issuance of four recent decisions overruling key Obama-era National Labor Relations Board precedent and announcing a review of the NLRB’s 2015 election regulations, the NLRB has begun the process of charting a new…more

Joint Employers, NLRA, NLRB, Trump Administration

Sidanth Rajagopal

A Practical Guide to Aircraft Engine RPFH Agreements

For the ever-evolving aviation industry, the traditional time and material–based contracts between airlines and original equipment manufacturers (OEMs) for the maintenance of aircraft engines may not always be the most practical…more

Aircraft, Airlines, Aviation Industry, Maintenance, Transportation Industry

Artificial Intelligence, Energy Sector, Nuclear Power, Popular, Renewable Energy

Arjun Prasad Ramadevanahalli

The Intersection of Energy and Artificial Intelligence: Key Issues and Future Challenges

Artificial intelligence (AI) not only provides new technological advantages to the energy industry, but also the industry is itself responsible for providing the vast (and growing) amount of energy consumption driven by the…more

Patent Infringement, Patent Litigation, Patents, SCOTUS, TC Heartland LLC v Kraft Foods

Rick Rambo

US Supreme Court Clarifies Where Corporations Can Be Sued for Patent Infringement

The United States Supreme Court clarified that 28 U.S.C. § 1400 is the exclusive venue statute for patent infringement cases, so the definition of “residence” for domestic corporations is limited to where they are incorporated…more

Americans with Disabilities Act (ADA), Department of Justice (DOJ), Disability Discrimination, New Guidance, Public Accommodation

Christopher Ramsey

DOJ Breaks Silence on ADA Web Accessibility with New Guidance

Following a period of silence on whether the Americans with Disabilities Act requires websites to be accessible to persons with disabilities, the US Department of Justice released new guidance on March 18 focusing on covered…more

Collateral Estoppel, Corporate Counsel, Inter Partes Review (IPR) Proceeding, Obviousness, Patent Litigation

Theodore Rand

Federal Circuit Clarifies Scope and Timing of Collateral Estoppel for Claims Under IPR

In a recent opinion, the Federal Circuit added several new wrinkles to amendment practice in inter partes review proceedings. The court affirmed the Patent Trial and Appeal Board’s determination that most of the original claims…more

Erin Randolph-williams

What Public Companies Should Consider Since the NYSE and Nasdaq Have Issued Proposed Clawback Listing Standards

On October 26, 2022, the US Securities and Exchange Commission (SEC) announced the adoption of its new rules directing national securities exchanges, including the New York Stock Exchange (NYSE) and the Nasdaq Stock Market…more

Clawbacks, Incentive Based Contracts, Listing Standards, Nasdaq, New Rules

Employee Benefits, Employer Liability Issues, Employment Policies, Military Leave, Military Service Members

Jason Ranjo

Third Circuit Joins Seventh Circuit in Holding Paid Leave May Be Required During Military Service

The US Court of Appeals for the Third Circuit held on August 10 in Travers v. Federal Express Corporation that paid leave is among the “rights and benefits” that the Uniformed Services Employment and Reemployment Rights Act…more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

Hillary Rankin

Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not…more

Coronavirus/COVID-19, Data Protection, Electronic Protected Health Information (ePHI), General Data Protection Regulation (GDPR), Health Care Providers

Paul Ranson

Telehealth in the United Kingdom: Considerations for Providers

With telehealth surging around the globe due to the COVID-19 pandemic, the UK National Health Services has released guidance that provides a set of good practice principles for third-party partners to follow…more

Arjun Rao

FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024…more

Advertising, Automotive Industry, Automotive Loans, Banks, Car Dealerships

Affordable Care Act, Appropriations Bill, Automotive Industry, Big Data, Bioengineering

Joshua Rapoport

The Next Big Things: Insights for 2020

Autonomous cars, sports betting, and CBD products have burst onto the scene, setting the stage for major developments in how companies do business and how regulators monitor new innovations…more

Jeffrey Raskin

Considerations When Assessing Your Company’s Vulnerability to a Cyberattack

The current cyberrisk landscape comprises a range of evolving threats, from phishing schemes to third-party vendor vulnerabilities. Companies looking to secure valuable assets, including data, can better prevent and manage…more

Cyber Attacks, Cybersecurity, Data Breach, Data Privacy, Data Protection

Department of Defense (DOD), Department of Justice (DOJ), False Claims Act (FCA), Federal Contractors

Heidi Rasmussen

False Claims Act: Defense-related Enforcement in Fy 2023 and on the Horizon

The headlines from the US Department of Justice’s (DOJ’s) recently released fiscal year 2023 civil fraud statistics may, on the surface, seem unremarkable. Indeed, the $2.7 billion topline number—reflecting total recoveries from…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Department of Labor (DOL), Equal Employment Opportunity Commission (EEOC)

Gabriella Ravida

Practical Guidance on Labor and Employment Issues in a Post-Chevron World

With the US Supreme Court’s June 28 decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, the four-decades Chevron doctrine is no longer. While the Court’s decision has altered administrative…more

Intellectual Property Protection, Inventions, Patent Applications, Patents, USPTO

Manita Rawat

Practical Applications of Recent USPTO Patent Eligibility Examples

The United States Patent and Trademark Office (USPTO) has released new guidance on patent subject matter eligibility (the Guidance), with a particular focus on artificial intelligence (AI) and related technologies. As noted by…more

Board of Directors, Breach of Duty, Fiduciary Duty, Venture Capital

Andrew Ray

Staying in the Fight: Getting Your Company Through the Down Round to the Next Round of Financing

A “down round” is when a company raises capital based on a valuation that is lower (often materially so) than the company’s valuation in one or more prior financing rounds. Depending on the severity of the situation, a “down…more

Business Interruption, Coronavirus/COVID-19, Corporate Counsel, Hartford Insurance Company, Infectious Diseases

Latiera Rayford

Federal Panel’s Decision Not to Centralize Certain COVID-19 Insurance Lawsuits Provides Strategic Opportunities for Policyholders

The US Judicial Panel on Multidistrict Litigation (Panel) previously declined to centralize all coronavirus (COVID-19)-related business interruption insurance lawsuits, but left open the possibility of certain insurer-specific…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

Paul Raymond

1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Form N-CEN, Form N-PORT, Investment Companies, Investment Company Act of 1940, Liquidity

Sadhvika (Shenu) Reddy

SEC Amends Registered Fund Reporting Requirements, Issues Guidance on Liquidity Risk Management Programs

The US Securities and Exchange Commission (SEC), by a 3-2 vote, recently adopted amendments to registered fund reporting requirements on Form N-PORT and Form N-CEN and provided guidance on open-end funds’ liquidity risk…more

Hayley Reed, Ph.D.

USPTO Proposes New Rule on Terminal Disclaimers

The US Patent and Trademark Office (USPTO) recently proposed a new rule for filing terminal disclaimers to overcome obviousness-type double patenting rejections. If adopted, the rule will likely spur patent applicants to…more

Double Patent, Patents, Proposed Rules, Terminal Disclaimer, USPTO

Antitrust Division, Antitrust Provisions, Competition, Department of Justice (DOJ), Enforcement Actions

Steven Reed

DOJ’s Rescission of Longstanding Guidance Creates Uncertainty for Market Benchmarking Activities

The US Department of Justice (DOJ) Antitrust Division is withdrawing three enforcement policy statements that provided important guidance on the exchange of competitively sensitive information through third parties. The guidance…more

Coronavirus/COVID-19, Critical Infrastructure Sectors, Elective Surgical Procedures, Executive Orders, Health Care Providers

Sydney Reed

Texas Governor Instructs Hospitals to Postpone Surgeries and Procedures

Texas Governor Greg Abbott issued Executive Order No. GA-27 on June 25 relating to the need for increased hospital capacity during the coronavirus (COVID-19) pandemic. As COVID-19 numbers in Texas surge, the order aims to…more

Artificial Intelligence, Corporate Counsel, Court of Justice of the European Union (CJEU), Data Protection, EU

Kevin Regan

EU’s Highest Court Expands EU GDPR Restrictions on Automated Decision-Making, Profiling, and AI

A recent decision by the Court of Justice of the European Union will extend the EU General Data Protection Regulation’s automated decision-making restrictions to many present and future use cases of such technologies. While the…more

Acquisitions, Employee Benefits, Employer Liability Issues, Employment Contract, Executive Compensation

Patrick Rehfield

Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 3—Impact on Mergers and Acquisitions

This is the third part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC), banning the enforcement of almost all noncompete…more

Coronavirus/COVID-19, Employer Liability Issues, Executive Orders, Governor Murphy, Public Health

Emily Reineberg

NJ State Contractors Required to Mandate Vaccination or Weekly Covid-19 Testing – Publications

Under a newly signed executive order in New Jersey, all state contractors and subcontractors entering agreements with the state must include a clause that requires all covered workers to either provide adequate proof to the…more

Carbon Emissions, Climate Change, Germany, Greenhouse Gas Emissions

Sylvia Reinhart

QUO VADIS: Tort Liability of Companies for Climate Damage?

As the recent heavy rainfall and the associated flooding in Bavaria and Baden-Württemberg have shown, extreme weather events are becoming more and more frequent, with increasing damage. According to current projections, insurers…more

Coronavirus/COVID-19, Occupational Exposure, Premises Liability, Re-Opening Guidelines, Risk Mitigation

Charles Reitmeyer

COVID-19: Reopening Businesses, Potential Personal Injury Theories, And Mitigating Risks

REOPENING BUSINESS IN THE WAKE OF COVID-19 - As federal, state, and local regulators issue guidelines allowing businesses to reopen during the coronavirus (COVID-19) crisis, businesses face the risk of personal injury claims…more

Acquisitions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act, Mergers

Y. Frank Ren

Growing Number of US States Target Private Equity Transactions in Healthcare

Driven by a growing wave of enforcer skepticism toward further healthcare consolidation, some state legislatures have begun to propose “mini-HSR” laws explicitly targeting healthcare transactions involving private equity firms…more

Artificial Intelligence, Corporate Counsel, EU, General Data Protection Regulation (GDPR), Innovative Technology

Christina Renner

EU AI Act Compliance: 10 Key Steps for Providers and Deployers of AI Systems

The European Union’s new AI Act (the Act) went into efect on 1 August 2024. The Act is the first-ever comprehensive law focused on artifcial intelligence and machine learning (collectively, AI). The Act impacts many…more

Disclosure Requirements, Enforcement Actions, Securities and Exchange Commission (SEC), Securities Regulation, Securities Violations

Emily Renshaw

Securities Enforcement Roundup – August 2024

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from August 2024. In August 2024: The SEC announced its latest round of “off-channel communications”…more

Artificial Intelligence, Department of Justice (DOJ), Fraud, Securities and Exchange Commission (SEC), Self-Disclosure Requirements

Susan Resley

DOJ Update : Financial Awards for Corporate Whistleblowers, Enhanced Penalties for Fraud Involving AI Misuse

The US Department of Justice (DOJ) continues to enhance its tougher-on-corporate-crime policy stance as first announced by Deputy Attorney General Lisa Monaco in 2021. In remarks on March 7 and March 8, DAG Monaco and Acting…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

Nicholas Restauri

2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Byunghwi Rho

Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational…more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

Board of Directors, Corporate Governance, India, Publicly-Traded Companies, Shareholders

Widya Rianita

‘… this isn’t Hotel California’ (or India’s New Fixed Offer Price Mechanism for Taking Public Companies Private)

The Securities and Exchange Board of India has decided to simplify the process of taking public companies private in India by permitting fixed-price delisting offers as an alternative to the existing requirement of determining…more

Acquisitions, Blockchain, Cryptocurrency, Digital Assets, Financial Services Industry

Mark Riccardi

State of the Fintech M&A Landscape: Market Trends and Regulatory and Enforcement Considerations

Three months into 2023 and the fintech landscape looks wildly different than this time one year ago. Global economic uncertainty clouds the fintech industry, with it facing challenges from rising interest rates, significant…more

Antitrust Provisions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act, Merger Controls

Jonathan Rich

New US Merger Guidelines Signal Continued Aggressive Merger Enforcement at DOJ, FTC

The US Department of Justice (DOJ) and Federal Trade Commission (FTC) released new Merger Guidelines on December 18, 2023—dramatically expanding the number and type of transactions that the agencies will consider presumptively…more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions, Individual Retirement Account (IRA)

Michael Richman

DOL QPAM Notification Deadline of September 15 Fast Approaching

The amendments to the QPAM Exemption include a September 15, 2024 notification deadline that will apply to many asset managers. This blog post includes a brief summary of the US Department of Labor’s (DOL’s) recent technical…more

Emily Rickard

IRS Warns of Compliance Actions Related to ESOPs and High-Income Taxpayers

The Internal Revenue Service (IRS) recently issued IR-2023-144 (the Notice), warning stakeholders of compliance issues associated with employee stock ownership plans (ESOPs) related to the tax liability of high-income taxpayers…more

Department of Labor (DOL), Employee Benefits, ESOP, IRS, Retirement Plan

Cryptoassets, Cryptocurrency, Digital Assets, Financial Conduct Authority (FCA), Financial Services Industry

Sarah Riddell

Going Digital in the UK, US, and UAE: The Latest Digital Asset Developments

The global digital landscape continues to rapidly transform and bring forth innovative financial instruments and technologies, including within the shifting regulatory frameworks that have shaped the digital asset ecosystem in…more

Construction Industry, Employer Liability Issues, NLRB, Unfair Labor Practices, Union Representatives

John Ring

NLRB Adopts Final Regulations to Restrict Employee Choice on Union Representation

The National Labor Relations Board (NLRB or Board) on August 1 published a new rule addressing three distinct situations affecting employees’ rights to decide whether they want union representation (New Rule). The New Rule…more

Antitrust Litigation, Class Certification, Competition, Criminal Conspiracy, Criminal Investigations

J. Warren Rissier

US Supreme Court Will Not Weigh In on Class Certification, Representative Evidence Questions

The US Supreme Court denied a certiorari petition seeking to resolve circuit court splits relevant to the litigation of class action matters, including if and when class certification is appropriate where a significant portion…more

Viktoria Ritter

Government Draft of Annual Tax Act 2024 Adopted

The Federal Cabinet adopted the government draft of an Annual Tax Act 2024 (JStG 2024) on June 5, 2024. The government draft largely corresponds to the draft bill of May 17, 2024 and contains a large number of very different…more

Germany, Income Taxes, International Tax Issues, Investment, Tax Liability

Disclosure Requirements, Enforcement Actions, Securities and Exchange Commission (SEC), Securities Regulation, Securities Violations

Alyse Rivett

Securities Enforcement Roundup – August 2024

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from August 2024. In August 2024: The SEC announced its latest round of “off-channel communications”…more

Colleges, Department of Education, Educational Institutions, Students, Universities

Celia Roady

Recent Congressional Action on Antisemitism Expands from Educational Institutions to Nonprofit and Financial Entities

US Congress continues to expand legislative action to address antisemitism. What began in the House of Representatives Committee on Education and the Workforce has expanded to a House-wide effort to combat antisemitism and…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Stephanie Roberts

Impact on IP Law in the Wake of US Supreme Court’s Decision

The US Supreme Court’s June 28, 2024 decision in Loper Bright Enterprises v. Raimondo and Relentless Inc. v. Department of Commerce overruled the forty-year-old Chevron U.S.A. Inc. v. Natural Resources Defense Council Inc…more

Antitrust Provisions, Department of Justice (DOJ), Federal Trade Commission (FTC), Filing Fees, Hart-Scott-Rodino Act

Harry Robins

Biden Administration’s HSR Data: 7 Key Takeaways (and Some Surprises)

The Federal Trade Commission (FTC) recently released the Hart-Scott-Rodino Annual Report for Fiscal Year 2022 (the Report)1 , which includes Hart-Scott-Rodino Act filing (HSR filing) statistics for the most recent year available…more

Colleges, Department of Education, Educational Institutions, Students, Universities

Amanda Robinson

Recent Congressional Action on Antisemitism Expands from Educational Institutions to Nonprofit and Financial Entities

US Congress continues to expand legislative action to address antisemitism. What began in the House of Representatives Committee on Education and the Workforce has expanded to a House-wide effort to combat antisemitism and…more

Jose Robles Jr.

Corporate Transparency Act: What Companies Need to Know

While the Corporate Transparency Act largely applies to foreign-owned shell companies, domestic companies should carefully read the definition of “reporting company” to ensure they fall within one of the exceptions to the…more

Beneficial Owner, Corporate Transparency Act, FinCEN, Legal Entities, NDAA

Antitrust Provisions, Artificial Intelligence, Best Practices, Competition, Corporate Counsel

Brian Rocca

Generative AI and Antitrust Enforcement: Understanding the GenAI ‘Stack’

The rapid rise of generative artificial intelligence (GenAI) is poised to revolutionize industries and potentially unleash efficiencies and innovation in the global economy. However, this transformative technology has also…more

Oliver Rochman

Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative…more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

Andrew Rocks

New Opportunities for Investors in the Growing Women's Sports Sector

Investment in women’s sports has undergone a significant transformation in recent years, with the once underinvested market now commanding attention from sports fans and investors globally. The shift not only reflects the…more

Department of Justice (DOJ), Fair Labor Standards Act (FLSA), Fair Workweek, Federal Trade Commission (FTC), Lactation Accommodation

Melissa Rodriguez

OSHA, Employment, and Antitrust: New Compliance Strategies for Luxury Retail Industry Companies

Recent labor law, workplace safety regulation, and antitrust enforcement developments are creating an increasingly complex regulatory landscape for luxury retail industry employers. Companies must navigate an array of compliance…more

Antitrust Provisions, Antitrust Violations, Climate Change, Environmental Social & Governance (ESG)

Jon Roellke

Climate Risks and Antitrust: The Policy and Politics of ESG Collaborations

Hotly contested across party lines—and often borders—environmental, social, and governance (ESG) standards were the focus of recent dueling reports by the US House Judiciary Committee. Despite the deepening debate, what…more

Jared Rogers

IRS Expands Self-Correction Program, Issues Other Technical Changes in Update to EPCRS

The Internal Revenue Service (IRS) issued an important update late last month to the Employee Plans Compliance Resolution System (EPCRS) in Revenue Procedure 2019-19. The IRS provided a helpful summary of the changes. The most…more

EPCRS, IRS, Retirement Plan

Employer Liability Issues, International Labor Laws, Sexual Harassment, UK

Jessica Rogers

UK Employers’ New Duty to Prevent Sexual Harassment: Are You Ready?

Employers have a new duty to take reasonable steps to prevent sexual harassment of employees in the course of their employment under the Worker Protection (Amendment of Equality Act 2010) Act 2023 (the Act). After receiving…more

Bankruptcy Code, CARES Act, Commercial Bankruptcy, Coronavirus/COVID-19, Debtors

Veronica Roh

Debtors Need Not Apply? Continuing Developments on the SBA’s Authority to Deny PPP Loans to Debtor Applicants

The Small Business Administration on April 24 issued an update to an interim final rule, crystalizing its view that applicants that have sought protection under the US Bankruptcy Code are not qualified borrowers under the…more

Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Long Term Care Facilities, Medicaid, Medicare

Christopher Ronne

CMS Rule Targeting Private Equity and REIT Ownership of Nursing Facilities Now in Effect

Effective January 16, 2024, a new rule promulgated by the Centers for Medicare & Medicaid Services (CMS) will significantly expand disclosure requirements for skilled nursing facilities participating in Medicare (SNFs) and…more

Alternative Fuels, Automotive Industry, China, Foreign Investment, Transportation Industry

Christopher Rose

Developing and Investing in Automotive Production in China

The growth of automobile production and sales in China, particularly in the realm of alternative fuel vehicles (New Energy Vehicles or NEVs), has been nothing short of explosive, experiencing a nearly 1,000-fold increase between…more

Employer Liability Issues, Employment Contract, NJ Supreme Court, Non-Disclosure Agreement, Non-Disparagement Provisions

Richard Rosenblatt

New Jersey Supreme Court Decision Requires Review of Non-Disparagement Agreements

On May 7, 2024, the New Jersey Supreme Court ruled that non-disparagement provisions precluding discussion of discrimination, retaliation, or harassment claims are unenforceable. We delve into the Court’s reasoning, as well as…more

Compliance, Department of Labor (DOL), Exempt-Employees, Minimum Wage

Ira Rosenstein

New York Increases Minimum Wage, Salaries as of December 31

Department of Labor adopts amendments to wage regulations setting the minimum wage rates for nonexempt employees and minimum salaries for exempt employees…more

Employer Liability Issues, NLRB, Quickie Election Rules, Union Elections, Unions

Geoffrey Rosenthal

National Labor Relations Board Reinstates ‘Quickie’ Election Rules

In a move that marks the return of the Board’s “quickie” election rules, the National Labor Relations Board has announced changes to its representation-case procedures that will dramatically accelerate the pre-election timeline…more

Banking Sector, Deposit Insurance, Disclosure Requirements, FDIC, Financial Crisis

John Rosenthal

Silicon Valley Bank Collapse: Initial Issues Raised

The California Department of Financial Protection & Innovation on March 10 declared Silicon Valley Bank insolvent and appointed the FDIC as receiver. To help with the resolution of SVB, the FDIC created the Deposit Insurance…more

Alexandra Rotar

The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Rick Rothman

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Employee Benefits, Individual Retirement Account (IRA), Retirement, Retirement Plan, SECURE Act

Claire Rowland

SECURE 2.0 Simplifies Corporate Transactions with Mid-Year Termination Rules for SIMPLE IRA Plans

In connection with a merger, acquisition, or other corporate (M&A) transaction, buyers often face the dilemma of how to handle the seller’s existing retirement plans covering the continuing employees. Terminating a seller’s…more

Charlotte Roxon

Luxembourg’s Financial Services Regulator Enhances ICT Incident Reporting Framework

New ICT incident reporting requirements under Circular 24/847 (Circular) of the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg’s financial regulator, will come into effect on April 1. This introduces a new…more

CSSF, Financial Institutions, Investment Firms, Investment Funds, Luxembourg

Excise Tax, Internal Revenue Code (IRC), IRS, Proposed Regulation, U.S. Treasury

Chelsea Rubin

IRS Proposes Regulations for Excise Taxes on Taxable Distributions from Donor-Advised Funds

The US Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) recently issued proposed regulations under Internal Revenue Code Section 4966 (the Proposed Regulations) that provide important clarifications…more

Asset Freeze, Biden Administration, Blocking Sanctions, Economic Sanctions, Export Administration Regulations (EAR)

Charles Rush

Update: United States Expands Sanctions, Export Controls in Response to Russian Operations in Ukraine

Based on the evolving military operations of the Russian Federation in Ukraine, the United States has imposed additional sanctions on the Russian Federation, Russian leadership, and various financial institutions and companies…more

Arbitration, Arbitration Agreements, Class Action, Class Action Arbitration Waivers, Collective Actions

Matthew Russell

Seventh Circuit: No FLSA Collective Action Notice For Workers Subject To Individual Arbitration Agreements

In Bigger v. Facebook, Inc., the US Court of Appeals for the Seventh Circuit held that courts should not authorize notice of a pending Fair Labor Standards Act (FLSA) collective action to individuals who have already entered…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

Philip Russell

Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Belarus, Belarus Sanctions, Economic Sanctions, International Arbitration, London Court of International Arbitration

Melanie Ryan

London Court of International Arbitration Is Granted Exemption from Russia and Belarus Sanctions

The United Kingdom’s Office of Financial Sanctions Implementation (OFSI) has granted the London Court of International Arbitration (LCIA) a General Licence allowing it to process payments from designated parties (DPs) who are…more

Artificial Intelligence, Emerging Growth Companies, Innovative Technology, Machine Learning, Technology Sector

Michael Ryan

Key Takeaways: AI and Other Considerations for Emerging Companies

When focusing on getting a company off the ground and ensuring success for those involved—founders, employees, investors, etc.—there are some concerns regarding artificial intelligence (AI) that would be wise to keep in mind…more

Economic Sanctions, Foreign Policy, General Licenses, Office of Foreign Assets Control (OFAC)

Eli Rymland-Kelly

OFAC Amends the Syrian Sanctions Regulations: What’s Next?

The US Office of Foreign Assets Control first issued the Syrian Sanctions on April 5, 2005, implementing Executive Order 13338, “Blocking Property of Certain Persons and Prohibiting the Export of Certain Goods to Syria.” On June…more

Employer Liability Issues, Job Duties, Reimbursements, Remote Working

Samuel Sadeghi

California’s Pandemic Stay-at-Home Order Didn’t Excuse Employer’s Obligation to Reimburse Necessary Work-From-Home Expenses

The California Court of Appeal held in Thai v. International Business Machines Corp. that even if government-mandated stay-at-home orders during the COVID-19 pandemic were an intervening cause of employees working from home and…more

Mitsuyoshi Saito

Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true…more

Investment, Investors, Japan, Limited Partnerships, Partnerships

Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Pensions, Retirement Plan

Daniel Salemi

Transitioning to Post-SECURE 2.0 Pension Overpayment Recovery Practices

As we have previously discussed, the SECURE Act 2.0 of 2022 (SECURE 2.0) changed the game for plan sponsors when considering whether and how to recover retirement plan overpayments. The new rules provide welcome relief and…more

Chevron Deference, Loper Bright Enterprises v Raimondo, Magnuson-Stevens Act (MSA), National Marine Fisheries Service, Oral Argument

David Salmons

US Supreme Court Hears Oral Arguments in Challenge to Chevron Deference

The US Supreme Court recently debated the future of the legal precedent known as Chevron deference in two separate cases arising out of the National Marine Fisheries Service’s statutory interpretation of the Magnuson-Stevens…more

Energy Projects, Inflation Reduction Act (IRA), IRS, Renewable Energy, Solar Energy

M. Jared Sanders

Elective Safe Harbor Released for IRA Domestic Content Tax Credit ‘Adder’

The US Department of Treasury and the IRS on May 16 released Notice 2024-41, which provides a new elective safe harbor that taxpayers may use to qualify for the domestic content bonus credit amount under Sections 45, 45Y, 48,…more

Animal Food, Food and Drug Administration (FDA), Food Manufacturers, Food Safety, Food Supply

Kathleen Sanzo

The Horse Is Out of the Barn: FDA and AAFCO Memo of Understanding on Animal Feed Ingredients to Expire

The Association of American Feed Control Officials (AAFCO) and the US Food and Drug Administration (FDA) announced on August 2, 2024 that their long-standing Memorandum of Understanding (MOU) governing the development and review…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

Marcos Sasso

Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Rishi Satia

AI and Algorithmic Pricing: Current Issues and Compliance Considerations

While algorithmic pricing has been used in many industries for decades, with the rapid development of artificial intelligence (AI) technology, antitrust enforcers, legislators, and private plaintiffs have been actively…more

Algorithms, Artificial Intelligence, Competition, Machine Learning, Pricing

Joshua Savey

Treasury and the IRS Finalize Section 897 ‘Domestically Controlled’ Look-Through Rule

On April 24, the Internal Revenue Service (IRS) issued final regulations (Final Regulations) regarding Section 897. In December 2022, the IRS issued proposed regulations under Sections 897 (the Proposed Regulations) and 892 of…more

Income Taxes, Internal Revenue Code (IRC), IRS, Tax Planning, U.S. Treasury

Advertising, Endorsements, Fake Reviews, Federal Trade Commission (FTC), FTC Endorsement Guidelines

Daniel Savrin

FTC Issues Final Rule on Consumer Reviews and Testimonials

Earlier this month, the Federal Trade Commission (FTC or Commission) published a final rule prohibiting certain specified unfair or deceptive acts or practices involving consumer reviews and testimonials. Effective October 21,…more

Kenneth Schacter

The Martoma Decision: The Second Circuit Tackles Insider Trading Post-Salman

The decision could alter the landscape of tipping liability. The US Court of Appeals for the Second Circuit issued another landmark insider trading opinion on August 23. In United States v. Martoma, the Second Circuit…more

Breach of Duty, Dirks v SEC, Fiduciary Duty, Illegal Tipping, Insider Trading

CARES Act, Coronavirus/COVID-19, Employer Liability Issues, Employer Responsibilities, Personal Protective Equipment

Regina Schaffer-Goldman

Retail Reopens Guide

As local and national governments begin easing pandemic-related restrictions on in-person activities, businesses must weigh how best to proceed with reopening, including restarting or expanding operations, reintegrating…more

Automotive Industry, Electric Vehicles, EU, Manufacturers, Transportation Industry

Dr. Philipp Schäuble

EU Automotive Industry: Antitrust and Regulatory Updates You Need to Know

In the European Union (EU), battery-electric vehicle (BEV) registration outpaced diesel vehicles for the first time in 2023. The EU electric vehicle (EV) market continues to show positive signs of consumer and private…more

Jason Scherr

COVID-19: What Servicers Should Know About Managing Mortgage Loan Forbearances

Federal and state regulators and Congress continue to release new guidance and requirements to assist mortgage borrowers facing economic hardships resulting from the coronavirus (COVID-19) pandemic…more

CARES Act, Coronavirus/COVID-19, Fannie Mae, FHFA, Financial Distress

Amended Regulation, Cybersecurity, Cybersecurity Information Sharing Act (CISA), Data Breach, Regulation S-P

Terese Schireson

SEC’s New Data Breach Requirement Increases Obligations for Financial Services Companies

The US Securities and Exchange Commission has adopted amendments to Regulation S-P requiring entities under its remit to provide notice to individuals affected by certain types of data breaches. This adds yet another obligation…more

Artificial Intelligence, Automated Decision Systems (ADS), Employer Liability Issues, Equal Employment Opportunity Commission (EEOC), Hiring & Firing

Michael Schlemmer

AI in the Workplace: The New Legal Landscape Facing US Employers

Artificial intelligence (AI) is quickly transforming the employment landscape, automating tasks, streamlining processes, and enhancing decision-making. At the same time, the technology raises concerns about potential biases,…more

Christine Ayako Schleppegrell

Deciphering FinCEN’s New Anti-Money Laundering Rules for Advisers

On August 28, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) adopted a final rule that subjects investment advisers to anti-money laundering/countering the financing of terrorism…more

AML/CFT, Anti-Money Laundering, Final Rules, FinCEN, Money Laundering

Carbon Emissions, Climate Change, Germany, Greenhouse Gas Emissions

Philipp Schmitter

QUO VADIS: Tort Liability of Companies for Climate Damage?

As the recent heavy rainfall and the associated flooding in Bavaria and Baden-Württemberg have shown, extreme weather events are becoming more and more frequent, with increasing damage. According to current projections, insurers…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

Matthew Schnall

Loper Bright Upends Judicial Deference: Implications for the IRS, Treasury, and Taxpayers

On June 28, 2024, the US Supreme Court decided Loper Bright Enterprises v. Raimondo and Relentless, Inc. v. Department of Commerce, which ended the era of judicial deference to agencies’ interpretations of federal law, as…more

Michelle Schneider

Carbon Dioxide Storage Act Amendment: An Important Step Toward Decarbonizing the German Industry?

On May 29, 2024, the German Federal Cabinet adopted a draft law to amend the Carbon Dioxide Storage Act (Kohlendioxid-Speicherungsgesetz – KSpG) and key points of a carbon management strategy. The draft law is based on a draft…more

Carbon Emissions, Climate Change, Energy Sector, Germany, Renewable Energy

David Schrader

Morgan Lewis Automotive & Mobility – Q3 | 2023

Welcome to the 37th edition of our newsletter on developments in the automotive industry, published by Morgan Lewis’s automotive and mobility team with contributions from lawyers in our offices around the globe. We counsel our…more

Acquisitions, Antitrust Provisions, Automotive Industry, Competition, Mergers

Corporate Crimes, Corporate Entities, Corporate Transparency Act, Financial Crimes, Fraud

Amy E. Schuh

New UK Corporate Offence: The ‘Failure to Prevent Fraud’

The recent passage of the Economic Crime and Corporate Transparency Act 2023 marked a significant moment in the UK government’s commitment to improving its economic crime legislative framework with the aim to deter and further…more

Best Practices, College Admissions, Diversity, Diversity and Inclusion Standards (D&I), Educational Institutions

Stephanie Schuster

DEI and Best Practices in Corporate America: Harvard/UNC One Year Later

All eyes were on the US Supreme Court in June 2023 as the justices were poised to issue their decision in Students for Fair Admissions v. Harvard & UNC. As colleges and universities awaited the decision and wondered what it…more

Environmental Protection Agency (EPA), Groundwater, Insurance Industry, Water

Scott Schutte

Electric Utilities Affected by Recent EPA Regulation May Benefit from Legacy Liability Insurance Policies

The US Environmental Protection Agency (EPA) on May 8, 2024 expanded the obligations of coal-fired power plants to remediate coal ash-related groundwater impacts with amendments to the federal Coal Combustion Residual (CCR)…more

Board of Directors, Corporate Governance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Gender Equity

David Schwartz

Nasdaq Proposes New Board Diversity Composition and Disclosure Requirements

The Nasdaq Stock Market (Nasdaq) announced that it had submitted a proposal to the US Securities and Exchange Commission (SEC) seeking approval of new listing rules to advance board diversity and increase transparency to…more

Corporate Governance, Disclosure Requirements, Financial Regulatory Reform, Publicly-Traded Companies, Regulation S-K

Kira Schwartz

SEC Modernizes Business, Legal Proceedings, and Risk Factor Disclosures Under Regulation S-K

The US Securities and Exchange Commission announced that it voted on August 26 to adopt amendments to Regulation S-K to modernize the description of business, legal proceedings, and risk factor disclosures that registrants are…more

Employer Liability Issues, Medical Leave, Paid Leave, Paid Time Off (PTO), State Labor Laws

Douglas Schwarz

Massachusetts Amends Paid Family and Medical Leave Law

As of November 1, 2023, the Massachusetts Paid Family and Medical Leave (PFML) law will permit employees to supplement their PFML benefits using accrued paid time off (PTO), such as sick or vacation pay. Employers cannot require…more

Torsten Schwarze

Carbon Dioxide Storage Act Amendment: An Important Step Toward Decarbonizing the German Industry?

On May 29, 2024, the German Federal Cabinet adopted a draft law to amend the Carbon Dioxide Storage Act (Kohlendioxid-Speicherungsgesetz – KSpG) and key points of a carbon management strategy. The draft law is based on a draft…more

Carbon Emissions, Climate Change, Energy Sector, Germany, Renewable Energy

Coronavirus/COVID-19, Executive Orders, Government Agencies, Public Meetings, Ralph M. Brown Act

Monica Schwebs

California Public Agency Open-Meeting Rules Relaxed Amid COVID-19

California Governor Gavin Newsom has issued multiple orders affecting how and under what conditions state and local agencies may meet and discuss and/or approve of contracts for services and products during the coronavirus…more

Ryan Sears

NLRB Expands Definition of Protected Concerted Activity and Employer Bargaining Obligations

The National Labor Relations Board (NLRB) recently issued a flurry of decisions prior to the expiration of Member Gwynne Wilcox’s first term at the end of August. These decisions joined the sweeping changes to NLRB…more

Employer Liability Issues, NLRA, NLRB, Protected Concerted Activity, Unions

Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits, IRS

Kathryn Seen

Treasury and IRS Publish Long-Awaited Guidance on Renewable Energy Investment Tax Credit

The US Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) released proposed regulations on November 17, 2023 addressing the investment tax credit (ITC) for renewable energy and energy storage facilities,…more

Collateralized Loan Obligations, Dodd-Frank, LTSA, Risk Retention, Securities and Exchange Commission (SEC)

Edmond Seferi

The LSTA Case: DC Circuit Court Delivers Victory for CLO Industry, with Some Broader Ramifications

The Loan Syndications & Trading Association prevailed in its quest to eliminate credit risk retention requirements for open-market CLO managers, in a ruling that has other important implications…more

Competition, EU, European Court of Justice (ECJ), Motor Vehicles, Transportation Industry

Leonhard Seifert

European Court of Justice Facilitates Access to Vehicle Data for Independent Vehicle Repairers

In two recent judgments, the European Court of Justice (ECJ) mandated information access rights by independent vehicle repairers to vehicle data under Regulation (EU) 2018/858. The judgments are likely to facilitate access to…more

Climate Change, Corporate Governance, Disclosure Requirements, Environmental Social & Governance (ESG), Publicly-Traded Companies

Ari Selman

The Future of Climate-related Disclosures for Multinational Companies

Climate change has become a top priority on the global agenda, prompting governments, businesses, and investors to take decisive action. Central to these efforts is the disclosure of sustainability risks— particularly…more

Artificial Intelligence, Employee Handbooks, Employer Liability Issues, Employment Policies

Valentina Semenikhina

AI in the Workplace: It May Be Time to Update Your Employee Handbook

One of the commonly advertised features of AI is that it is beneficial for automation and increasing productivity. When a company considers improving its productivity and employing an AI tool, it will typically go through a…more

Matthew Sepp

GAO Finds Offshore Pipeline Oversight Lacking

On April 19, 2021, eleven years since the Deepwater Horizon explosion, the US Government Accountability Office (GAO) released a report issued to Congress criticizing the Department of Interior’s Bureau of Safety and…more

BSEE, Deepwater Horizon, Failure to Monitor, GAO, Gulf of Mexico

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

Toby Serkin

1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Centers for Medicare & Medicaid Services (CMS), Clinical Laboratory Testing, Coronavirus/COVID-19, Department of Health and Human Services (HHS), Food and Drug Administration (FDA)

Brian Shaffer

Staying Within the Legal Lane: Providing Products and Services for COVID-19

Companies marketing products or services for coronavirus (COVID-19) should be aware of key areas of healthcare law and regulation, including Food and Drug Administration regulation, clinical laboratory testing oversight, product…more

Acquisitions, Antitrust Provisions, Competition, Competition Authorities, Corporate Counsel

Omar Shah

Landmark Reforms to UK Competition and Consumer Protection Landscape Become Law

The Digital Markets, Competition and Consumers Act 2024 received Royal Assent on May 24, 2024, ushering in the most significant reforms to the UK’s competition and consumer protection laws in a generation. The Act introduces…more

Antitrust Provisions, Business Interruption, Class Action, Colleges, Coronavirus/COVID-19

Sujal Shah

Colleges and Universities: Litigation Challenges and Risk Mitigation in the Face of COVID-19

In navigating the coronavirus (COVID-19) pandemic, higher education institutions should be aware of a recent wave of refund class actions, antitrust considerations in communication with other institutions, claims for business…more

CERCLA, Coronavirus/COVID-19, Environmental Policies, Environmental Protection Agency (EPA), RCRA

Tanya Shah

COVID-19: EPA Releases Interim Guidance for Cleanup Sites

The US Environmental Protection Agency (EPA) has released additional interim guidance for field work decisions at cleanup sites under EPA authority, emphasizing its commitment to ensuring the health and safety of the public, its…more

DIFC, Dubai, Gulf Cooperation Council (GCC), United Arab Emirates (UAE)

Nahla Shamseddine

The New DIFC Prescribed Company Regulations 2024

The DIFC Prescribed Company Regulations 2024 (New PC Regulations) were enacted on July 15, 2024. Replacing the former PC Regulations 2019 (and the 2020 and 2022 amendments thereto), the New PC Regulations aim to streamline and…more

Artificial Intelligence, EU, European Securities and Markets Authority (ESMA), Financial Services Industry, MiFID II

Vishnu Shankar

ESMA Issues Guidance on AI in Retail Financial Services as EU AI Act Takes Effect

The European Securities and Markets Authority (ESMA) recently published its first formal guidance on the use of artificial intelligence (AI) in the provision of retail investment services. The guidance outlines AI’s potential…more

Beneficial Owner, Corporate Transparency Act, FinCEN, Popular, Reporting Requirements

Shabeena Sharak

Corporate Transparency Act Update: Beneficial Ownership Reporting in Tax Equity Transactions

Regulations recently coming into effect under the Corporate Transparency Act (CTA) may impose new beneficial ownership reporting obligations on clean energy tax equity partnerships and joint ventures. The rules now require…more

Altitude Express Inc v Zarda, Bostock v Clayton County Georgia, Civil Rights Act, EEOC v RG & GR Harris Funeral Homes, Employer Liability Issues

Matthew Sharbaugh

US Supreme Court: Federal Law Prohibits Discrimination Against Gay, Lesbian, and Transgender Employees

The US Supreme Court on June 15 issued its long-anticipated ruling in Bostock v. Clayton County, which raised the question of whether Title VII’s anti-discrimination provisions protect applicants and employees who experience…more

Economic Sanctions, Foreign Policy, Foreign Relations, Military Conflict, Russia

Peter Sharp

Ukraine Conflict Two Years Later: Key Legal Lessons for Businesses

It’s been two years since the escalation of the ongoing conflict in Ukraine, which has led many companies with business operations or personnel in Eastern Europe to adjust, restructure, or exit locations in Russia. Meanwhile,…more

#MeToo, Arbitration, Arbitration Agreements, Employer Liability Issues, Employment Contract

Samuel Shaulson

Bill Ending Forced Arbitration of Sexual Misconduct Expected to Become Law

The Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act of 2021 passed by voice vote in the US Senate on February 10. The US House of Representatives approved the same measure with bipartisan support on…more

Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, General Duty Clause, Guidance Update, Infectious Diseases

Mikaela Shaw

OSHA Updates Guidance to Mitigate COVID-19 in the Workplace

The Occupational Safety and Health Administration (OSHA) recently updated its nonbinding COVID-19 guidance applicable to all industries not otherwise covered by its Emergency Temporary Standard (ETS). The primary purpose of the…more

Jack Shawdon

UK Government Announces Funding for Innovative Companies, New COVID-19 Future Fund

The UK government has announced two new schemes for funding to innovative companies and startups, launching in May 2020…more

Business Formation, Coronavirus/COVID-19, Funding, Small Business, Startups

Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Medicare, Physician Fee Schedule, Physicians

Albert Shay

CMS Proposes Additional Revisions to the 60-Day Rule

The Centers for Medicare & Medicaid Services has issued its Calendar Year 2025 Medicare Physician Fee Schedule Proposed Rule, scheduled for publication in the Federal Register on July 31, 2024. In response to industry concerns…more

Doneld Shelkey

Global IT Disruption Highlights Third-Party Risk Management Resiliency Considerations

In the weeks following a defective software update that disrupted several industries globally, including financial services, aviation, retail, and emergency services, remediation efforts remain ongoing while organizations look…more

Financial Services Industry, Risk Management, Software, Suppliers, Supply Chain

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

Scott Sherwin

PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

David Shim

US Supreme Court: Nonconsensual Third-party Releases Impermissible Under Bankruptcy Code

The US Supreme Court ruled in a landmark 5-4 decision on June 27, 2024 that nonconsensual third-party releases, as proposed in Purdue Pharma’s bankruptcy plan, were not permissible under the Bankruptcy Code. A nonconsensual…more

Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Debtors, SCOTUS

Corporate Issuers, Disclosure Requirements, Public Offerings, Securities Act of 1933, Securities and Exchange Commission (SEC)

Charlene Shimada

Ninth Circuit Holds That Social Media Posts Can Give Rise to Securities Act Liability

The US Court of Appeals for the Ninth Circuit recently held that a person who makes social media posts promoting securities—motivated at least in part by their own financial interests or those of the securities’ owner—is…more

Artificial Intelligence, Emerging Growth Companies, Innovative Technology, Machine Learning, Technology Sector

Zachary Shine

Key Takeaways: AI and Other Considerations for Emerging Companies

When focusing on getting a company off the ground and ensuring success for those involved—founders, employees, investors, etc.—there are some concerns regarding artificial intelligence (AI) that would be wise to keep in mind…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

Lindsey Shinn

2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Due Diligence, Investment, Investors, Reporting Requirements

Kevin Shmelzer

Strengthening Governance in Family Offices: Investment Committees Can Safeguard Family Legacies

Establishing a formal investment committee is crucial for strategic investment oversight and decision-making in the complex landscape of family office management. Given the unique challenges and opportunities that family offices…more

Karin Shmulevich

ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial…more

Bitcoin, Cryptocurrency, Digital Assets, ETFs, Exchange-Traded Products

Aset Shyngyssov

Kazakhstan General Prosecution Office Introduces ‘Prosecutor’s Filter’ to Protect Investors

The General Prosecutor’s Office of the Republic of Kazakhstan issued an order earlier this year providing a proactive protection of rights and interests of investors in Kazakhstan. This LawFlash summarizes key takeaways from the…more

Investment, Investors, Kazakhstan, Tax Authority

Asset Seizure, Central Bank of Russia, Foreign Relations, Russia

Maxim Sidorenko

Russia Introduces Framework to Seize US Assets Within its Territory

The Russian President on May 23 issued Decree No. 422, establishing a procedure to seize the assets of US persons within Russian jurisdiction. The announced purpose of the decree is to provide compensation for the damage caused…more

Antitrust Provisions, Competition, Federal Trade Commission (FTC), Health Care Providers, Hospital Mergers

Glenn Siegel

Global Healthcare Transactions Series: How COVID-19 Impacted Transactions in the United States

After a sluggish year in 2020 for mergers and acquisitions among hospitals and health systems, 2021 has shown renewed vigor and is poised for considerable transactional activity. When the COVID-19 pandemic erupted in the United…more

Abortion, Dobbs v. Jackson Women’s Health Organization, Health Care Providers, Patient Access, Pregnancy

Shane Siegel

Evolving Laws and Litigation Post–Dobbs: The State of Reproductive Rights as of May 2023

It has been almost a year since the US Supreme Court held in Dobbs v. Jackson Women’s Health Organization that there was no constitutional right to abortion and returned the question of abortion to the states, resulting in a…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

Emilee Siegl

Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

Administrative Patent Judges, Appointments Clause, Arthrex Inc v Smith & Nephew Inc, Constitutional Challenges, Director of the USPTO

Michael Sikora

Government Arguments Potentially Open Constitutional Can of Worms Regarding PTAB Appointments

In response to arguments made by the US government in an appeal pending before the US Supreme Court, members of Congress requested an investigation into the adequacy of due process afforded to Patent Trial and Appeal Board…more

Attorney General, Compliance, Department of Justice (DOJ)

Carolyn Silane

DAG Rosenstein Reinforces Value of Effective and Tailored Compliance Programs

Deputy Attorney General Rod Rosenstein delivered remarks on May 21 at the Mayflower Hotel in Washington, DC, as part of Compliance Week’s 2018 Annual Conference for Risk Professionals. In candid remarks, Mr. Rosenstein…more

Clinical Trials, Food and Drug Administration (FDA), Life Sciences, Medical Devices, Pharmaceutical Industry

Angela Silva

FDA Issues Long-Awaited Diversity Action Plan Guidance

Recognizing the importance of diversity and inclusivity in clinical trials, drug development, and regulatory decision-making, Congress amended the Federal Food, Drug, and Cosmetic Act (FDCA) in connection with the Food and Drug…more

Environmental Policies, Plastics, Pollution Control, Recycling, Regulatory Reform

Julie Silva Palmer

Reduce, Reuse, Regulate: The Current State of Plastic Waste Legislation in the United States

Three hundred million tons of plastics are produced each year worldwide. Less than 10% of plastic waste in the United States is recycled each year. With projections showing that plastics production is expected to triple over the…more

Conciliation, Disability Discrimination, Employer Liability Issues, Equal Employment Opportunity Commission (EEOC)

Michelle Seldin Silverman

EEOC Publishes Final Rule Amending Conciliation Process

The Equal Employment Opportunity Commission (EEOC) on January 11 published its Final Rule amending procedural rules for its conciliation process. EEOC is statutorily required to engage in the conciliation process whenever it…more

Defined Benefit Plans, Employee Benefits, Employee Contributions, IRS, Retirement Plan

Mark Simons

Final 417(e) Regulations Add New Requirements and Offer Design Flexibility

The US Internal Revenue Service (IRS) recently issued final regulations concerning “minimum present value requirements” for tax-qualified defined benefit plans (DB plans). There are three primary changes for sponsors of DB plans…more

CRISPR, Interference Claims, Life Sciences, Patent Applications, Patent Litigation

Sara Sims, Ph.D

PTAB Issues Decision Awarding Priority of Invention of CRISPR Gene Editing Patents to Broad Institute

The Patent Trial and Appeal Board issued a decision on February 28 awarding priority of invention of foundational CRISPR gene editing patents to the Broad Institute, Massachusetts Institute of Technology, and Harvard…more

Artificial Intelligence, Corporate Counsel, EU, General Data Protection Regulation (GDPR), Innovative Technology

Izzet Sinan

EU AI Act Compliance: 10 Key Steps for Providers and Deployers of AI Systems

The European Union’s new AI Act (the Act) went into efect on 1 August 2024. The Act is the first-ever comprehensive law focused on artifcial intelligence and machine learning (collectively, AI). The Act impacts many…more

Aircraft, Business Interruption, Commercial Insurance Policies, Insurance Industry, Political Risk Insurance

Jaswant (Josh) Singh

Update: Business Insurance Considerations Amid Conflict in Ukraine

The conflict in Ukraine and actions taken by and against Russia continue to wreak havoc on global business operations, causing supply chain disruptions, interruptions in operations, and the loss of assets located abroad. With…more

Anti-Kickback Statute, False Claims Act (FCA), Health Care Providers, Healthcare Fraud, Medicare

Eric Sitarchuk

Second Circuit Confirms ‘Willfulness’ Standard for Scienter Has Teeth Under the Anti-Kickback Statute and False Claims Act

In a new decision that could have a significant impact on the persistent efforts of relators to reach otherwise lawful conduct and characterize it as a violation of the Anti-Kickback Statute (AKS), the US Court of Appeals for…more

Arbitration, Arbitration Awards, Cross-Border, Foreign Arbitral Awards, International Arbitration

Polina Sizikova

Turkmenistan Takes Steps to Improve Its Business Climate

Turkmenistan, a holder of one of the world’s largest natural gas reserves, has recently taken steps to improve its business climate. In May 2022, Turkmenistan acceded to the New York Convention on the Recognition and Enforcement…more

Artificial Intelligence, Energy Sector, Nuclear Power, Popular, Renewable Energy

J. Daniel Skees

The Intersection of Energy and Artificial Intelligence: Key Issues and Future Challenges

Artificial intelligence (AI) not only provides new technological advantages to the energy industry, but also the industry is itself responsible for providing the vast (and growing) amount of energy consumption driven by the…more

Employer Liability Issues, International Labor Laws, Sexual Harassment, UK

Louise Skinner

UK Employers’ New Duty to Prevent Sexual Harassment: Are You Ready?

Employers have a new duty to take reasonable steps to prevent sexual harassment of employees in the course of their employment under the Worker Protection (Amendment of Equality Act 2010) Act 2023 (the Act). After receiving…more

Contract Terms, Indemnification Clauses, Indemnity, Indemnity Claim

Katrina Slack

‘Indemnify, Defend, and Hold Harmless’: What Does It Really Mean?

An indemnification provision serves as a contractual remedy to redress a party’s (or third party’s) financial loss suffered as a result of a claim, breach, or some other event or condition set forth in the provision…more

Artificial Intelligence, Emerging Growth Companies, Innovative Technology, Machine Learning, Technology Sector

Brian Slough

Key Takeaways: AI and Other Considerations for Emerging Companies

When focusing on getting a company off the ground and ensuring success for those involved—founders, employees, investors, etc.—there are some concerns regarding artificial intelligence (AI) that would be wise to keep in mind…more

Edwin Smith

How to Navigate the Post-FTX Crypto Bankruptcy Regulatory Landscape

In the wake of several high-profile collapses of cryptocurrency exchanges, most notably FTX, Celsius, and Voyager, the state of the digital asset landscape is ever-changing, with more questions and landmines than clear paths…more

Bankruptcy Code, Cryptocurrency, Debtors, Digital Currency, Section 365

Drug Pricing, Intellectual Property Protection, NIST, Patents, Pharmaceutical Industry

Nathan Smith

Bipartisan Focus on Drug Prices Continues with Proposed Expansion of Federal Authority Over Patent Rights

Pharmaceutical drug pricing and reimbursement remains a bipartisan focus as we draw closer to the November presidential elections, with politicians remaining steadfast in their efforts to turn up the heat on pharmaceutical…more

Investment Company Act of 1940, Investment Management, Liquidity, Liquidity Risk Management Rule, Mutual Funds

Philip Smith

SEC Proposes Mandatory Swing Pricing for Mutual Funds and Revised Liquidity Requirements

On November 2, 2022, the US Securities and Exchange Commission (SEC), by a 3-2 party line vote, proposed amendments (the Proposal) to the liquidity risk management programs rule (Rule 22e-4) under the Investment Company Act of…more

Anti-Abuse Rule, FIRPTA, Internal Revenue Code (IRC), Investment Management, Pension Funds

Todd Smith

Treasury Issues Final Regulations on FIRPTA Exemption for Qualified Foreign Pension Funds

The US Department of Treasury recently released final regulations providing guidance on the exception from taxation under the Foreign Investment in Real Property Tax Act of 1980 for “qualified foreign pension funds” under…more

Employer Liability Issues, Equal Pay, Gender Equity, International Labor Laws

Sabine Smith-Vidal

Gender Equality at Work: Where Does France Stand?

March is a good month to take stock of gender equality (or inequality) in the corporate world. While this is in part due to International Women's Day, in France, March also means the publishing of corporate gender equality index…more

Yaroslav Smorodin

Update: ‘Control’ for UK Sanctions Addressed in Hellard Case

Asset freeze measures enacted by the United Kingdom against designated persons (DPs) can, under certain circumstances, extend to entities “owned or controlled” by DPs. To date, there have been few—and at times partly…more

Double Patent, Intellectual Property Protection, Obviousness, Patent Expiration, Patent Litigation

Robert Smyth, Ph.d.

Federal Circuit Clarifies Proper Double-Patenting Reference

In Allergan USA v. MSN Labs, the US Court of Appeals for the Federal Circuit held, that later-filed, later-issued claims cannot serve as proper reference for invalidating earlier-filed, earlier-issued claims having the same…more

Biden Administration, Centers for Medicare & Medicaid Services (CMS), Constitutional Challenges, Coronavirus/COVID-19, Employer Liability Issues

Jonathan Snare

Supreme Court Reimposes Stay on OSHA Emergency Temporary Standard, Allows CMS Rule to Go Forward

The US Supreme Court issued two decisions on January 13, 2022 in cases challenging the Occupational Safety and Health Administration’s (OSHA’s) Emergency Temporary Standard (ETS) on Vaccination and Testing and the Centers for…more

Board of Directors, Bylaws, Corporate Governance, Shareholders

Celia Soehner

Delaware Supreme Court Raises the Bar on Plaintiffs’ Firms Extracting Fees for Challenges to Advance Notice Bylaws

The Delaware Supreme Court on July 11 partially reversed the Delaware Court of Chancery decision in Kellner v. AIM ImmunoTech, which had held that certain advance notice bylaw provisions were “facially invalid,” holding instead…more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Popular, Renewable Energy

Allison Soilihi

ESG Investing: A Global Regulatory Review and Outlook

As environmental, social, and governance (ESG) considerations become increasingly central to investment strategies worldwide, the regulatory landscapes governing ESG investing are evolving rapidly across different regions…more

Ascertainable Class, Breach of Contract, Breach of Implied Contract, Class Action, Class Certification

Charles Solomont

COVID-19: Court Denies Motion for Class Certification in Ticket Refund Case

A federal district court in Florida denied a plaintiff’s motion for class certification in a putative class action asserting claims on behalf of ticket purchasers against Viagogo, a secondary ticket marketplace platform, for…more

Board of Directors, Bylaws, Corporate Governance, Shareholders

Joanne Soslow

Delaware Supreme Court Raises the Bar on Plaintiffs’ Firms Extracting Fees for Challenges to Advance Notice Bylaws

The Delaware Supreme Court on July 11 partially reversed the Delaware Court of Chancery decision in Kellner v. AIM ImmunoTech, which had held that certain advance notice bylaw provisions were “facially invalid,” holding instead…more

Affirmative Action, College Admissions, Colleges, Diversity, Diversity and Inclusion Standards (D&I)

Grace Speights

Us Supreme Court: Affirmative Action in College Admissions Must Come to an End

The US Supreme Court issued a landmark decision on June 29, 2023 regarding challenges to race-conscious admissions programs at Harvard University and the University of North Carolina (UNC). In a 6–3 decision split along…more

Cybersecurity, Data Protection, General Data Protection Regulation (GDPR), Germany, International Data Transfers

Dr. Axel Spies

German Data Protection Authorities on Asset Deals: Restrictions on Data Transfers Under GDPR

The German Data Protection Conference (DSK) on September 11, 2024 published guidance on asset deals (the Guidelines) that distinguishes between various stages of a sale process and the relevant personal data that can be shared…more

Department of Energy (DOE), Energy Sector, FERC, Liquid Natural Gas, Natural Gas

Stephen Spina

US Senate Advances Energy Infrastructure Permitting Bill

The US Senate Committee on Energy and Natural Resources has advanced the Energy Permitting Reform Act of 2024, a bipartisan energy bill that would facilitate permitting for energy infrastructure and mining projects…more

Paul R. St. Lawrence

Volcker Rule Amendments: An Early Assessment of Interpretive Issues, Business Impact, and Market Opportunities

Recently published amendments to the Volcker Rule — effective October 1, 2020—could have significant market impact for affected stakeholders, and will liberalize certain key aspects of the Volcker Rule’s regulations and quell or…more

Asset Management, Covered Funds, Credit Funds, Dodd-Frank, Exclusions

Accounting Standards, FASB, Financial Accounting, Financial Reporting, Financial Statements

Benjamin Stango

New FASB Standards Mandate Disclosure of Reverse Factoring Programs

Due to new standards issued by the Financial Accounting Standards Board (FASB) in late 2022, companies with supply chain financing are now required to comply with additional disclosures intended to monitor and understand the…more

Chevron Deference, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty

Julie Stapel

What the End of the Chevron Doctrine May Mean for ERISA’s Fiduciary Provisions

In Loper Bright Enterprises v. Raimondo and Relentless Inc. v Department of Commerce, the Supreme Court held that both the United States’ constitutional structure and the Administrative Procedure Act preclude a court from…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

James Steele, III

Loper Bright Upends Judicial Deference: Implications for the IRS, Treasury, and Taxpayers

On June 28, 2024, the US Supreme Court decided Loper Bright Enterprises v. Raimondo and Relentless, Inc. v. Department of Commerce, which ended the era of judicial deference to agencies’ interpretations of federal law, as…more

Olanike Steen

Supreme Court’s Cert Denial Leaves Low Pleading Bar for Claims Against Sports Leagues

The US Supreme Court on April 22, 2024 denied a petition for a writ of certiorari in the closely watched antitrust case United States Soccer Federation Inc. v. Relevent Sports LLC. The decision raises important questions about…more

Antitrust Provisions, Certiorari, Competition, SCOTUS, Sherman Act

Collateral Estoppel, Corporate Counsel, Inter Partes Review (IPR) Proceeding, Obviousness, Patent Litigation

Alexander Stein

Federal Circuit Clarifies Scope and Timing of Collateral Estoppel for Claims Under IPR

In a recent opinion, the Federal Circuit added several new wrinkles to amendment practice in inter partes review proceedings. The court affirmed the Patent Trial and Appeal Board’s determination that most of the original claims…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Benjamin Stein

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Anti-Competitive, Antitrust Provisions, Competition, Federal Trade Commission (FTC), Private Equity Firms

Mark Stein

FTC Sues Private Equity Firm Over Alleged Anticompetitive Scheme Involving Roll-up Acquisitions

The US Federal Trade Commission is suing US Anesthesia Partners Inc. and its private equity founder for allegedly enacting an anticompetitive scheme to gain market power through a series of roll-up acquisitions…more

Federal Contractors, Investigations, Notice of Violation, OFCCP

Arielle Steinhart

New OFCCP Rule Changes Investigative Process—to the Detriment of Contractors

The US Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) recently issued a new final rule that will change how the agency investigates and enforces allegations of discrimination against federal…more

AMG Capital Management LLC v FTC, Enforcement Authority, Federal Trade Commission (FTC), FTC Act, FTCA Section 13(b)

Scott Stempel

US Supreme Court: FTC Cannot Seek Equitable Monetary Relief in Section 13(b) Cases

In a unanimous 9-0 decision authored by Justice Breyer, the US Supreme Court has held that the Federal Trade Commission (FTC) lacks the authority to seek equitable monetary relief in cases brought in federal court under FTC Act…more

Alternative Investment Fund Managers Directive (AIFMD), EU, European Economic Area (EEA), Investment Funds

Samuel Stenning

AIFMD II Enters into Force: Key Changes to EU Fund Regime

After several years of negotiations between the European Commission, European Council, and European Parliament following the publication of the initial draft proposal in November 2021, AIFMD II was published in the Official…more

Coronavirus/COVID-19, Employee Benefits, Employer Liability Issues, Governor Newsom, Paid Leave

Kassi Stephenson

Update: California Governor Signs SB 114 to Reinstate COVID-19 Supplemental Paid Sick Leave

The California State Legislature Senate Bill 114, signed by Governor Newsom on February 9, requires employers with 26 or more employees to provide up to 80 hours of supplemental paid sick leave for qualifying COVID-19 related…more

Heinrich Stirtz

Federal Government Expands Access to Capital for Startups

The federal government is planning to invest considerable funds into promoting startups investing in artificial intelligence, climate, quantum, or biotechnology, for example, and into increasing exit opportunities for German and…more

Investment, Investors, Startups, Venture Capital

Dr. Mathias Stöcker

Recent Developments of the New German Supply Chain Act

Addressees of the German Act on Corporate Due Diligence Obligations in Supply Chains should note some new developments, including the first complaints filed under the act, guidance on small- and mid-sized enterprises as…more

Due Diligence, Germany, Human Rights, Risk Management, Supply Chain

Automotive Industry, Connected Cars, Electric Vehicles, Manufacturers, National Security

F. Jackson Stoddard

Evolving Regulatory Landscape for Connected Vehicles: Balancing Innovation with National Security

The US Department of Commerce’s Bureau of Industry and Security (BIS) took a potentially important step toward shaping the future of connected vehicles (CVs) by issuing an advance notice of proposed rulemaking (ANPRM) on…more

Consumer Protection Laws, Fraud and Abuse, Local Ordinance, Unfair or Deceptive Trade Practices

Martha Stolley

Philadelphia Enacts Ordinance to Protect Residents From Unfair or Deceptive Trade Practices

Philadelphia joins other major US cities in passing a local law to address consumer fraud and abuse. With its newfound enforcement authority, the Philadelphia Law Department can investigate and initiate legal action against…more

Mark Stolzenburg

NLRB Issues New Joint Employer Rule Affirming Expansive Joint Employer Status

The NLRB recently published its final rule on the standard for determining joint employer status, broadening the circumstances under which separate businesses can be considered joint employers—thereby making them obligated to…more

Employer Liability Issues, Franchisee, Franchisors, Joint Employers, NLRB

Steven Stone

Deciphering FinCEN’s New Anti-Money Laundering Rules for Advisers

On August 28, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) adopted a final rule that subjects investment advisers to anti-money laundering/countering the financing of terrorism…more

AML/CFT, Anti-Money Laundering, Final Rules, FinCEN, Money Laundering

Intellectual Property Protection, Patent Litigation, Patent Trial and Appeal Board, Patents, USPTO

Melissa Story

Early Results of USPTO’s New Climate Change Mitigation Pilot Program

The United States Patent and Trademark Office launched the Climate Change Mitigation Pilot Program last year to incentivize the filing of patent applications that cover technologies directed to climate change mitigation. With…more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

Susan Stradley

Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not…more

Coronavirus/COVID-19, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions, Fraud

Steven Strauss

DOJ COVID-19 Fraud Enforcement Task Force Releases Report on Combating Fraud

The US Department of Justice’s (DOJ’s) COVID-19 Fraud Enforcement Task Force (CFETF) released a report on April 9 summarizing its efforts to identify, investigate, and prosecute fraud related to COVID-19 relief programs. DOJ’s…more

Artificial Intelligence, Department of Labor (DOL), Federal Contractors, Hiring & Firing, OFCCP

Emory Strawn

US Department of Labor Publishes Guidelines Addressing Use of AI in Employment Decisions

The US Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) recently issued guidance for the use of artificial intelligence (AI) by federal contractors in employment decisions…more

Economic Sanctions, Foreign Policy, Foreign Relations, Military Conflict, Russia

Vasilisa Strizh

Ukraine Conflict Two Years Later: Key Legal Lessons for Businesses

It’s been two years since the escalation of the ongoing conflict in Ukraine, which has led many companies with business operations or personnel in Eastern Europe to adjust, restructure, or exit locations in Russia. Meanwhile,…more

Business Closures, Clean Air Act, Coronavirus/COVID-19, Department of Environmental Protection, Emergency Management Plans

Glen Stuart

COVID-19 in Pennsylvania: Department of Environmental Protection Cancels Public Meetings

As the coronavirus (COVID-19) pandemic continues, state government agencies are increasingly responding with closures and cancellations. In Pennsylvania, the Department of Environmental Protection recently cancelled seven highly…more

Arbitration, Best Practices, Biometric Information, Biometric Information Privacy Act, Class Action

Megan Suehiro

Key Takeaways: Developments and Trends in Privacy Law: a Look at BIPA and Wiretapping Litigation

The latest developments under the Biometric Information Privacy Act (BIPA) and a recent wave of wiretapping class actions and arbitrations against website operators and third-party analytics companies are analyzed in a recent…more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Popular, Renewable Energy

Alishia Sullivan

ESG Investing: A Global Regulatory Review and Outlook

As environmental, social, and governance (ESG) considerations become increasingly central to investment strategies worldwide, the regulatory landscapes governing ESG investing are evolving rapidly across different regions…more

America Invents Act, Claim Construction, Discovery, Estoppel, Inter Partes Review (IPR) Proceeding

John Sullivan

2017 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

Recent patent reform legislation, rule changes, and court rulings are expected to have a significant impact on the strategies of both patent owners and petitioners…more

Form N-CEN, Form N-PORT, Investment Companies, Investment Company Act of 1940, Liquidity

Kyle Sullivan

SEC Amends Registered Fund Reporting Requirements, Issues Guidance on Liquidity Risk Management Programs

The US Securities and Exchange Commission (SEC), by a 3-2 vote, recently adopted amendments to registered fund reporting requirements on Form N-PORT and Form N-CEN and provided guidance on open-end funds’ liquidity risk…more

Board of Directors, Bylaws, Corporate Governance, Shareholders

Shawn Summers

Delaware Supreme Court Raises the Bar on Plaintiffs’ Firms Extracting Fees for Challenges to Advance Notice Bylaws

The Delaware Supreme Court on July 11 partially reversed the Delaware Court of Chancery decision in Kellner v. AIM ImmunoTech, which had held that certain advance notice bylaw provisions were “facially invalid,” holding instead…more

Business Associates, Covered Entities, Department of Health and Human Services (HHS), Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

Sydney Swanson

Online Tracking Technologies: Updated HIPPA Guidance Creates Uncertainty

On March 18, the US Department of Health and Human Services’ (HHS’s) Office for Civil Rights (OCR) updated its guidance regarding the use of online tracking technologies. The American Hospital Association and others filed a…more

Fixing America’s Surface Transportation Act (FAST Act), Regulation D, Rule 144A, Section 4(a), Securities Act of 1933

Charles Sweet

The FAST Act, Section 4(a)(7) and Section 4(a)(1½)

This LawFlash was originally published on January 4, 2016. The FAST Act’s private resale safe harbor has not gained traction in private offerings of asset-backed securities. On December 4, 2015, US President Barack Obama…more

Artificial Intelligence, Automation Systems, Employer Liability Issues, Employment Discrimination, Hiring & Firing

Stephanie Sweitzer

Illinois Passes New Law to Address AI in the Workplace

Despite the rapid rise in the use of artificial intelligence (AI) in the workplace, legislation regulating employers’ use of AI remains sparse. Until recently, only New York City and Colorado had passed laws governing an…more

Anti-Monopoly, Antitrust Provisions, Competition, Critical Infrastructure Sectors, Japan

Richard Taffet

JFTC Issues Survey Results on Trade Practices Involving Startups

The Japan Fair Trade Commission (JFTC) on November 27 published its final report on the survey (Survey) it conducted since November 2019 regarding trade practices involving startup companies…more

Eric Tajcher

Navigating PPP Loans In M&A Transactions (UPDATED)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government…more

CARES Act, Coronavirus/COVID-19, Eligibility, Federal Loans, Financial Stimulus

Capital Gains Tax, Corporate Taxes, Foreign Sovereigns, Income Taxes, Sovereign Immunity

Grace Tan

UK Sovereign Immunity from Direct Taxation

Sovereign immunity is a principle of public international law whereby one sovereign state should not seek to apply its law to another sovereign state. Alongside the jurisdictional immunity foreign sovereigns enjoy in the United…more

Employer Liability Issues, Flexible Work Arrangements, International Labor Laws, Singapore

Wendy Tan

How Employers Can Prepare as Singapore Readies for Employment Rule Changes

The second half of 2024 is shaping up to be a consequential time for employment rules in Singapore. Not only will the Workplace Fairness Legislation (WFL) be introduced in Parliament, but guidelines for the inclusion of…more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

Alison Tanchyk

DOJ Criminal Division Launches Corporate Whistleblower Awards Pilot Program

The US Department of Justice’s (DOJ) Criminal Division on August 1 announced the details of its much-anticipated Corporate Whistleblower Awards Pilot Program. This three-year initiative aims to incentivize individuals to report…more

Bo Tang

What’s Driving the Future of Asia’s Tech Scene: Key Trends and Regulatory Updates

Heading into 2023, Asia’s tech scene is well-positioned for strong growth potential. As with any industry where advancement and innovation are outpacing regulation, the complex landscape can be difficult for businesses to…more

Asia, CFIUS, Data Privacy, Digital Assets, Due Diligence

Abbreviated New Drug Application (ANDA), Antitrust Division, Claim Construction, Hatch-Waxman, Inter Partes Review (IPR) Proceeding

Jessica Taticchi

Pharma Review - Issue 3

Welcome to the third issue of the Morgan Lewis Pharma Review, which summarizes key recent cases from the Federal Circuit and district courts that impact the pharma space, including Federal Circuit and district court decisions in…more

Anti-Discrimination Policies, Employees, Employer Liability Issues, Equal Protection, Labor Reform

Amy Phan Taylor

Seattle Becomes First US Jurisdiction to Add Caste as a Protected Class

The city council of Seattle recently added caste as a protected class to the city’s anti-discrimination laws. In doing so, Seattle becomes the first US jurisdiction to ban caste discrimination and the first in the world to pass…more

Jesse Taylor

Social Media Influencer Agreements, Part 2: Considerations When Drafting for an Influencer

In Part 1, we discussed how companies rely on social media influencers to promote their products and services online, and certain items to consider when drafting an influencer agreement. In this Part 2 blog post, we’ll focus on…more

Advertising, Endorsements, Influencers, Marketing, Social Media

Construction Industry, Employer Liability Issues, NLRB, Unfair Labor Practices, Union Representatives

Michael Taylor

NLRB Adopts Final Regulations to Restrict Employee Choice on Union Representation

The National Labor Relations Board (NLRB or Board) on August 1 published a new rule addressing three distinct situations affecting employees’ rights to decide whether they want union representation (New Rule). The New Rule…more

Artificial Intelligence, Department of Justice (DOJ), Fraud, Securities and Exchange Commission (SEC), Self-Disclosure Requirements

Daniel Tehrani

DOJ Update : Financial Awards for Corporate Whistleblowers, Enhanced Penalties for Fraud Involving AI Misuse

The US Department of Justice (DOJ) continues to enhance its tougher-on-corporate-crime policy stance as first announced by Deputy Attorney General Lisa Monaco in 2021. In remarks on March 7 and March 8, DAG Monaco and Acting…more

Cancer, Commercial Insurance Policies, Duty to Defend, Food and Drug Administration (FDA), Food Labeling

Adam Teitcher

Legal Considerations for WHO’s ‘Possibly Carcinogenic’ Aspartame Classification

On July 14, 2023, the World Health Organization (WHO) published a summary of two findings regarding aspartame, an artificial sweetener found in many consumer products. One finding categorized aspartame as “possibly…more

Chief Information Security Officer (CISO), Cybersecurity, Financial Industry Regulatory Authority (FINRA), SEC v Jarkesy, Securities and Exchange Commission (SEC)

Noah Teixeira

Securities Enforcement Roundup – July 2024

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from last month. In July 2024: A district court dismissed several of the SEC’s claims against…more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Restrictive Covenants, State Labor Laws

Molly Terwilliger

Washington State Expands Its Noncompete Law

While the Federal Trade Commission’s new noncompete ban is facing challenges on multiple fronts, Washington State has enacted its own new restriction on noncompetes. Effective June 6, 2024, employers must comply with the new…more

Climate Change, Corporate Governance, Disclosure Requirements, Environmental Social & Governance (ESG), Popular

Divya Thakur

ESG Investments: the Asia-pacific Regulatory Perspective

Environmental, social, and governance (ESG) investing is gaining traction across the Asia-Pacific region, but different jurisdictions and markets have varied approaches to disclosure requirements and regulations, creating a…more

Antitrust Provisions, Antitrust Violations, Climate Change, Environmental Social & Governance (ESG)

Leonidas Theodosiou

Climate Risks and Antitrust: The Policy and Politics of ESG Collaborations

Hotly contested across party lines—and often borders—environmental, social, and governance (ESG) standards were the focus of recent dueling reports by the US House Judiciary Committee. Despite the deepening debate, what…more

Humphrey Thomas

UK Takeover Panel Makes Extensive Compensation and ‘Cold Shoulder’ Orders for UK Takeover Code Breaches

The UK Takeover Panel (Panel) has made its first-ever compensation order under the statutory powers granted to it under the Companies Act 2006 (CA 2006). It has also issued “cold shoulder” orders against 10 individuals, the most…more

Companies Act, Corporate Governance, Directors, UK

Americans with Disabilities Act (ADA), Fitness for Duty Exams, Public Health

Andrea Threet

Third Circuit Affirms Priority of NRC Public Health and Safety Requirements

Court rules that the ADA does not create a loophole to NRC fitness-for-duty and security regulations. On August 15, for the first time, a US court of appeals ruled that the US Nuclear Regulatory Commission’s (NRC’s)…more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds

Stephen Tirrell

Fifth Circuit Vacates SEC Private Fund Adviser Rules in Full

In a unanimous decision published on June 5, 2024, the US Court of Appeals for the Fifth Circuit vacated the entire set of regulations, including amendments to existing rules (collectively, the Rules), adopted by the US…more

Buyers, CFIUS, Commercial Leases, Commercial Real Estate Contracts, Commercial Real Estate Market

Richard Toelke

Real Estate Report

The Real Estate Report, produced by our Real Estate lawyers, covers important commercial real estate trends and developments…more

Abu Dhabi Global Markets (ADGM), Escrow Accounts, Financial Services Industry, United Arab Emirates (UAE)

Alexander Tombak

ADGM Issues Real Estate Consultation Paper: Changes to Real Estate Regulations

The Abu Dhabi Global Market (ADGM) recently issued a consultation paper seeking opinions on how to revamp its real estate legal framework in light of the expansion of the ADGM territory to include Al Maryah Island and Al Reem…more

401k, 403(b) Plans, Employee Benefits, Employee Retirement Income Security Act (ERISA), Retirement

R. Randall Tracht

Retirement Plans: Bona Fide Job-Based Exclusion or Impermissible Service Condition?

Employers utilizing class-based criteria to exclude employees from retirement plan participation face new issues and considerations following the adoption of the long-term part-time employee (LTPTE) rules in SECURE 1.0 and…more

California Privacy Rights Act (CPRA), Consumer Privacy Rights, Cybersecurity, Data Collection, Data Privacy

Jonathan D. Traub

Despite Delayed Adoption of Final Regulations, CPRA Is Enforceable As of Initial Enforceability Date

The Court of Appeal of the State of California (the Court of Appeals) recently ruled that Proposition 24, the California Privacy Rights Act of 2020 (CPRA), is enforceable without any further delay. The CPRA contains important…more

Jason Traue

Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions, Fraud, Healthcare Fraud

Devin Troy

DOJ Releases 2023 Fraud Section Year in Review

In recent weeks, the US Department of Justice (DOJ) Criminal Division’s Fraud Section released its annual Year in Review report, summarizing the Fraud Section’s accomplishments in 2023. This detailed account points to a…more

Beneficiary Designations, Coronavirus/COVID-19, Employee Benefits, QDRO, Retirement Plan

Patrick Trunzo

Approving QDROs During Court and Government Office Closures

Due to widespread court closures as a result of the coronavirus (COVID-19) pandemic, it may be difficult for participants or their attorneys to obtain a certified copy of a domestic relations order that many retirement plans…more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Popular, Renewable Energy

Carol Tsuchida

ESG Investing: A Global Regulatory Review and Outlook

As environmental, social, and governance (ESG) considerations become increasingly central to investment strategies worldwide, the regulatory landscapes governing ESG investing are evolving rapidly across different regions…more

Matthew Tudino

New Law Changes Massachusetts Estate Tax Exemption Amount

Massachusetts Governor Maura Healey signed a bill on October 4, 2023 amending the state’s estate tax law. INCREASED MASSACHUSETTS ESTATE TAX EXEMPTION AMOUNT For individuals dying on or after January 1, 2023, the new law…more

Estate Planning, Estate Tax, Estate-Tax Exemption, Tax Exemptions, Tax Planning

Arbitration, Arbitration Agreements, Corporate Counsel, Employee Handbooks, Employer Liability Issues

Kenneth Turnbull

NY Federal Court Decision Highlights Importance of Careful Drafting of Arbitration Program

The US District Court for the Southern District of New York (SDNY) ruled that an employer’s mandatory arbitration program was unenforceable because its terms were contained in an employee handbook and did not create a binding…more

Affirmative Action, Civil Rights Act, College Admissions, Diversity, Educational Institutions

Larry Turner

EO 11246 Following the Harvard-UNC Supreme Court Cases: Why Federal Contractors Should Stay the Course for Now

The US Supreme Court’s June 29 decision in Students for Fair Admissions, Inc. v. University of North Carolina and Students for Fair Admissions, Inc. v. Harvard University (the Harvard-UNC cases), which will have a significant,…more

Employer Liability Issues, International Labor Laws, UK, Wage and Hour

Thomas Twitchett

The State of UK Employment Law Reforms Post–King’s Speech

As projected, the King’s Speech of 17 July 2024, outlining the UK government’s legislative agenda, made reference to the Labour Party’s “New Deal for Working People” among other proposed legislation for the Party’s first 100…more

James Tynion III

Offshore Wind Update: Checks Are in the Mail

As many industry observers predicted (and hoped), 2022 has been a breakout year for the nascent US offshore wind industry. Spurred by the Biden-Harris administration’s goals of 30 gigawatts of offshore wind by 2030 and net-zero…more

Electricity, Energy Projects, Energy Sector, Renewable Energy, Wind Power

Board of Directors, Delaware General Corporation Law, Fiduciary Duty, Mergers, Shareholders

Jessica Tyrrell

Amendments to DGCL Proposed After Chancery Decisions on M&A Practice and Stockholder Agreements on Corporate Governance Rights

The Council of the Corporation Law Section of the Delaware State Bar Association has proposed amendments to the Delaware General Corporation Law that, if enacted by the General Assembly, will address issues raised in three…more

Asbestos, Chemicals, Environmental Protection Agency (EPA), Toxic Chemicals, Toxic Substances Control Act (TSCA)

Edward Ulloa

EPA Announces Ban on Chrysotile Asbestos

The White House and US Environmental Protection Agency (EPA) jointly announced on March 18 a final rule to prohibit ongoing uses of chrysotile asbestos, the only known form of asbestos currently used in or imported to the United…more

Double Patent, Intellectual Property Protection, Obviousness, Patent Expiration, Patent Litigation

Kalpesh Upadhye

Federal Circuit Clarifies Proper Double-Patenting Reference

In Allergan USA v. MSN Labs, the US Court of Appeals for the Federal Circuit held, that later-filed, later-issued claims cannot serve as proper reference for invalidating earlier-filed, earlier-issued claims having the same…more

Department of Homeland Security (DHS), E-Verify, Employer Liability Issues, Employment Eligibility Verification, Foreign Workers

Yesim Usluca

DHS Announces New Form I-9 and Document Verification Guidelines

The US Department of Homeland Security (DHS) announced on July 21, 2023 the modernization of the I-9 process following the COVID-19 pandemic, including through new guidelines expanding the use of E-Verify, the DHS’s employment…more

Certificate of Public Convenience and Necessity, Certiorari, Condemnation, Critical Infrastructure Sectors, Eleventh Amendment

Katherine Vaky

Supreme Court to Review Third Circuit’s ‘Disruptive’ NGA Decision on Pipeline’s Power to Acquire Right-of-Way over State Lands

The US Supreme Court granted certification on February 3 to review the US Court of Appeals for the Third Circuit’s decision in In re PennEast Pipeline Co. in order to resolve an important question: Does the Natural Gas Act (NGA)…more

Biden Administration, De Minimis Claims, Section 232, Tariffs, Trade Act of 1974

Carl Valenstein

Update: White House Joins in Dialogue on De Minimis Reform

The Biden administration announced on September 13, 2024 its intention to use executive authority to limit the use of the de minimis exemption and encourage Congress to take comprehensive legislative action, adding to the…more

Lisa Valentovish

Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair…more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Penalties, Securities and Exchange Commission (SEC)

John Vassallo, III

2017 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

Executive Summary - The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases…more

Automotive Industry, Biden Administration, Carbon Emissions, Clean Air Act, Critical Infrastructure Sectors

Catherine Vasudevan

The Course Ahead: Legal and Regulatory Updates for Emissions and Electric Vehicles in the Biden-Harris Administration

Just over 100 days into the Biden-Harris administration, the course being charted by the government for automobile emissions and emerging automotive mobility technologies is becoming clearer…more

Commercial Contracts, Contract Drafting, Contract Terms, IP License, Non-Disclosure Agreement

Krista Vink Venegas, Ph.d.

IP and Commercial Contract Litigation Developments and Trends: What Transactional Lawyers Should Know

As part of our Spotlight series, we invited litigation partners Dana E. Becker (Philadelphia), Shon Lo (Chicago), and Krista Vink Venegas, Ph.D. (Chicago), to talk about recent trends and issues in IP-related and other…more

Centers for Medicare & Medicaid Services (CMS), Disclosure Requirements, Health Care Providers, Inflation Reduction Act (IRA), Medicare Part D

Jewelle Vernon

CMS Disclosures Due October 15: Is Your Plan’s Rx Coverage Still Creditable?

The Inflation Reduction Act (IRA) made several changes to Medicare Part D that may impact whether employer-sponsored coverage will be creditable for the 2025 plan year. With open enrollment season about to begin, plan sponsors…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Sandra Vrejan

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Non-Solicitation Agreements, Restrictive Covenants

Adam Wagmeister

California Further Bolsters its Prohibitions on Noncompete Agreements

On the heels of the enactment of Senate Bill 699, which fortified California’s restrictions on noncompete agreements and other restrictive covenants and provided additional employee protections, California has once more…more

Carbon Emissions, Climate Change, Energy Sector, Environmental Policies, Greenhouse Gas Emissions

Ayesha Waheed

Article 6 of the Paris Agreement and Its Impact on Investments in Clean Cookstoves

The “rulebook” for the technical and operational aspects of Article 6 of the Paris Agreement, which facilitates countries engaging in projects that reduce greenhouse gas emissions and selling the associated carbon credits to…more

Donor-Advised Funds (DAFs), IRS, Private Foundations, Proposed Regulation

Caroline Waldner

IRS Holds Two-Day Hearing on Proposed Donor-Advised Fund Regulations

The Internal Revenue Service (IRS) held a hearing on May 6–7, 2024 on the proposed regulations for donor-advised funds (REG-142338-07) issued by the agency in November 2023. More than 150 organizations provided comments on the…more

Arbitration, EU, European Court of Human Rights, Human Rights, International Arbitration

David Waldron

Iliria S.R.L. v Albania: Landmark Decision Affirms Need for Timely Justice

In a landmark decision rendered by the European Court of Human Rights (ECtHR), the recent case of Iliria S.R.L. v Albania underscores the imperative need for timely justice in matters of international arbitration in the context…more

Coronavirus/COVID-19, Government Lockdown, India, Operators of Essential Services, Wage and Hour

Steven Wall

COVID-19 in India: Lockdown Guidelines Revised

The nationwide lockdown in India in response to the coronavirus (COVID-19) pandemic has been extended until May 3. The Indian government has permitted the operation of certain additional business activities from April 20…more

Arbitration Agreements, Contract of Adhesion, Employment Contract, Employment Discrimination, Limitation Periods

James Walsh, Jr.

New Jersey Rejects Contractual Shortening of Limitations Period

The New Jersey Supreme Court’s decision forbids employers from contractually shortening the two-year limitations period under the state’s Law Against Discrimination. In a decision issued on June 15 that reversed two lower…more

Asset Management, China, China Securities Regulatory Commission (CSRC), Financial Markets, Foreign Corporations

Alex Wang

China Securities Regulatory Commission Responds to Foreign Asset Managers’ FMC Applications

Feedback on recent applications to the China Securities Regulatory Commission provides some clarity on what will be expected from foreign asset managers wishing to establish fund management companies in the Chinese domestic…more

Catherine Wang

National Telecommunications and Information Administration Seeks Input on US Spectrum Strategy

The US Commerce Department’s National Telecommunications and Information Administration (NTIA), the executive branch’s advisor and representative on spectrum policy, recently launched a public inquiry to develop the National…more

5G Network, NTIA, Public Comment, Telecommunications, Wireless Industry

Artificial Intelligence, Authorship, Computer-Related Inventions, Copyright, European Patent Office

Jianbai "Jenn" Wang

Copyright, Patent, or Trade Secret Protection for AI Content: Challenges and Considerations

From creative endeavors like art and music to practical applications like translation and weather forecasting, artificial intelligence (AI) is producing more and more content and being used by inventors. Given the nuances in how…more

Judy Wang

China Releases Standard Contractual Clauses for Cross-Border Data Transfers

The Cyberspace Administration of China released for public consultation its long-awaited template for the cross-border data transfer agreement on June 30, 2022, under the draft Provisions on the Prescribed Agreement on…more

China, Corporate Counsel, Cross-Border Transactions, Data Processors, EU

Colleges, Department of Education, Educational Institutions, Students, Universities

Rachel Ward

Recent Congressional Action on Antisemitism Expands from Educational Institutions to Nonprofit and Financial Entities

US Congress continues to expand legislative action to address antisemitism. What began in the House of Representatives Committee on Education and the Workforce has expanded to a House-wide effort to combat antisemitism and…more

Financial Conduct Authority (FCA), Financial Services Industry, Greenwashing, UK, UK Competition and Markets Authority (CMA)

Chris Warren-Smith

UK Financial Conduct Authority Adopts New Anti-Greenwashing Rule and Guidance

The UK Financial Conduct Authority (FCA) recently adopted a new anti-greenwashing rule, alongside supplemental guidance, requiring that financial service businesses regulated by the FCA ensure that any sustainability claims…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

Brittany Washington

2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Artificial Intelligence, Copyright, Intellectual Property Protection, Text Messages

Joseph Washington

Rise of Text-to-Speech AI Models Part 1: Intellectual Property Issues

Text-to-speech AI models (TTS Models) are rapidly evolving within the broader spectrum of AI solutions, offering tremendous potential for businesses. These models can analyze text and speech as well as generate anything from…more

Investors, Schedule 13D, Securities and Exchange Commission (SEC), Securities Exchange Act of 1934

Christopher Wasil

Second Circuit Affirmance of ‘Sterilization’ Remedy Denial in 13d Case Reinforces Need for Appropriate Advance Notice Bylaws

The US Court of Appeals for the Second Circuit recently affirmed a District Court’s denial of a company’s request to “sterilize” the voting securities of stockholders who allegedly violated the disclosure requirements of Section…more

Carbon Capture and Sequestration, Carbon Emissions, Climate Change, Energy Efficiency, Energy Policy

Tsugumichi Watanabe

Race Around the World to Achieve Net Zero Energy Consumption

Since the 2015 Paris Agreement, countries around the globe have been analyzing their energy and development strategies and planning to meet their commitments. While some countries have made progress by, among other things,…more

Peter Watt-Morse

Proposed H-1B Modernization – A Conversation with Shannon Donnelly

As part of our Spotlight series, we invited Shannon Donnelly, a partner in our Washington, DC office who works with clients on a wide range of complex global immigration and mobility issues, to discuss the proposed H1B…more

Foreign Nationals, Foreign Workers, H-1B, Immigrants, Immigration Procedures

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Fiduciary Rule

Linda Way-Smith

DOL Proposed Rule on Automatic Portability: Plan Fiduciaries’ Perspective

While the US Department of Labor’s (DOL’s) recently proposed regulations regarding automatic portability transactions would place the onus of compliance on transfer providers, a number of the provisions would trigger ERISA…more

Biden Administration, De Minimis Claims, Section 232, Tariffs, Trade Act of 1974

Casey Weaver

Update: White House Joins in Dialogue on De Minimis Reform

The Biden administration announced on September 13, 2024 its intention to use executive authority to limit the use of the de minimis exemption and encourage Congress to take comprehensive legislative action, adding to the…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

Lisa Weddle

Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Delisting, Nasdaq, Noncompliance, Securities and Exchange Commission (SEC)

Kuinan Wei

Nasdaq Proposes Stricter Delisting Rules for Noncompliance with Minimum Bid Price Requirement

The Nasdaq Stock Market LLC (Nasdaq) recently filed with the Securities and Exchange Commission (SEC) the proposed amendments to its rules regarding the delisting of penny stocks (i.e., shares with bid price below $1.00), aiming…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Final Rules, Non-Compete Agreements

Michael Weil

FTC Final Rule Banning Most Noncompete Clauses Effective September 4

The Federal Trade Commission (FTC) approved a Final Rule banning noncompete clauses for almost all workers, effective 120 days following the Rule’s publication in the Federal Register. On May 7, 2024, the Final Rule was…more

Investment Adviser, Investment Advisers Act of 1940, Private Funds, Registered Investment Advisors, Securities and Exchange Commission (SEC)

Ellen Weinstein

Split SEC Adopts New and Amended Rules Overhauling Private Fund Industry

On August 23, 2023, the US Securities and Exchange Commission (SEC) voted 3-2 to adopt new and amended rules under the Investment Advisers Act of 1940, as amended (Advisers Act) that will impose additional requirements on…more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

Justin Weitz

DOJ Criminal Division Launches Corporate Whistleblower Awards Pilot Program

The US Department of Justice’s (DOJ) Criminal Division on August 1 announced the details of its much-anticipated Corporate Whistleblower Awards Pilot Program. This three-year initiative aims to incentivize individuals to report…more

Family Offices, Investment, Investment Management, Tax Planning

Sara Wells

10 Frequently Asked Questions on Starting a Family Office

In the last decade, family offices have become increasing popular vehicles among high-net-worth individuals and families looking for more formalized investment management, tax planning, estate planning, and philanthropic…more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary, Missing Plan Participants

Natalie Wengroff

DOL Guidance on Missing Participants Is No Longer Missing

The US Department of Labor (DOL) provided three long-awaited pieces of sub-regulatory guidance on January 12 on the issues of missing participants and uncashed checks. This is an area that has been the subject of a focused DOL…more

CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus, Main Street Lending Programs

Ian Wenniger

CARES Act and Federal Reserve Offer Economic Assistance to Stabilize US Economy (UPDATED)

The Federal Reserve took additional actions on April 9 to provide up to $2.3 trillion in loans to support the US economy during the coronavirus (COVID-19) pandemic. This LawFlash covers the new and expanded programs, and…more

Antitrust Litigation, Energy Sector, Risk Management

Colin West

Role of Antitrust Laws in Labor Markets, Including in the Energy Field, Remains Key Focus of Enforcers

As noted in this article by Morgan Lewis antitrust lawyers, the role of antitrust laws in labor markets, including in the energy field, remains a key area of focus by enforcers, including the Antitrust Division of the US…more

Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, DFEH, Health and Safety, Infectious Diseases

Lauren West

CDC Issues Health Recommendations for Vaccinated People; States Begin Issuing Vaccine Guidance

The Centers for Disease Control and Prevention (CDC) issued public health recommendations for fully vaccinated people that provide guidance on activities these individuals can engage in as well as ongoing precautions of which to…more

Centers for Medicare & Medicaid Services (CMS), Drug Pricing, Medicare, Medicare Part B, Pharmaceutical Industry

Tesch Leigh West

Unpackaging CMS’s HOPPS Proposed Rule and Payments for Diagnostic Radiopharmaceuticals

In what can only be characterized as a necessary but significant proposed departure from current political initiatives focused on lowering pharmaceutical drug prices, the Centers for Medicare & Medicaid Services (CMS) proposes…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

Alexander Wettermann

2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Buy Now Pay Later (BNPL), Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry

Emily Kimmelman Wheeling

Regulatory Scrutiny of the Buy Now, Pay Later Industry

Since 2019, “buy now, pay later” (BNPL) loans have been a popular option among consumers and retailers alike. In the last few years, however, the BNPL industry has undergone explosive growth due, in large part, to increased…more

Andrew White

New Opportunities for Investors in the Growing Women's Sports Sector

Investment in women’s sports has undergone a significant transformation in recent years, with the once underinvested market now commanding attention from sports fans and investors globally. The shift not only reflects the…more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

Jason White

PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Broker-Dealer, Financial Industry Regulatory Authority (FINRA), Investment Adviser, Securities and Exchange Commission (SEC)

Kyle Whitehead

SEC Stays Approval of Amendment to FINRA Rule 2210 That Would Allow Projections of Performance

In an unusual move, on July 26, 2024, the Securities and Exchange Commission (SEC) stayed an order that was previously issued by its own Division of Trading and Markets just one week earlier on July 19, 2024. That order approved…more

Department of Justice (DOJ), Fair Labor Standards Act (FLSA), Fair Workweek, Federal Trade Commission (FTC), Lactation Accommodation

Kaitlyn Whiteside

OSHA, Employment, and Antitrust: New Compliance Strategies for Luxury Retail Industry Companies

Recent labor law, workplace safety regulation, and antitrust enforcement developments are creating an increasingly complex regulatory landscape for luxury retail industry employers. Companies must navigate an array of compliance…more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

Jaclyn Unis Whittaker

DOJ Criminal Division Launches Corporate Whistleblower Awards Pilot Program

The US Department of Justice’s (DOJ) Criminal Division on August 1 announced the details of its much-anticipated Corporate Whistleblower Awards Pilot Program. This three-year initiative aims to incentivize individuals to report…more

Income Taxes, IRS, Limited Liability Company (LLC), Limited Partnerships, Self-Employment Tax

Jedd Wider

US Tax Court Decision Opens Limited Partners to Self-Employment Tax Exposure

Private equity, hedge fund, and other investment fund sponsors should be aware of the recent development in the Internal Revenue Service’s (IRS’s) audit campaign with respect to potential liability for Self-Employment…more

Artificial Intelligence, Cybersecurity, Data Privacy, EU, General Data Protection Regulation (GDPR)

Phillip Wiese

EU AI Act, US NIST Target Cyberattacks on AI Systems—Guidance and Reporting Obligations

The European Union published on July 12, 2024 the final text of its Artificial Intelligence (AI) Act, in force on August 1, 2024, which will implement material cybersecurity and incident reporting requirements, among other…more

Biden Administration, Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Offshore Wind

Jonathan Wilcon

US Offshore Wind Roundup as of March 2023

Despite global economic headwinds, the US offshore wind industry has continued to slowly but steadily blossom, driven largely by enhanced vision and cooperation among federal government agencies under the Biden administration,…more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

Jared Wilkerson

Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not…more

Air Pollution, Clean Air Act, Environmental Protection Agency (EPA), Federal Implementation Plans (FIP), NAAQS

Laura Williams

US Supreme Court Grants Stay, Temporarily Blocks Implementation of EPA’s Good Neighbor Plan

The US Supreme Court issued on June 27, 2024 an opinion in Ohio v. EPA staying enforcement of the US Environmental Protection Agency’s (EPA’s) Federal Implementation Plan (FIP). The FIP sought to impose more stringent standards…more

Artificial Intelligence, Department of Justice (DOJ), Fraud, Securities and Exchange Commission (SEC), Self-Disclosure Requirements

Bradie Williams

DOJ Update : Financial Awards for Corporate Whistleblowers, Enhanced Penalties for Fraud Involving AI Misuse

The US Department of Justice (DOJ) continues to enhance its tougher-on-corporate-crime policy stance as first announced by Deputy Attorney General Lisa Monaco in 2021. In remarks on March 7 and March 8, DAG Monaco and Acting…more

Artificial Intelligence, Cybersecurity, Data Privacy, Data Protection, Data Security

Jennifer Mott Williams

Optimizing AI: Strategies for Intelligent Management

Evaluating what intelligent management of artificial intelligence (AI) means for an organization requires analysis of various intersecting factors. First, stakeholders need to determine what counts as AI. That determination will…more

Consumer Privacy Rights, Cybersecurity, Data Privacy, Data Protection, Data Security

Julian Williams

State Consumer Privacy Laws: New Privacy Laws in Texas, Oregon, and Montana Take Effect in 2024

Beginning July 1, 2024, Texas and Oregon will join the growing list of states with active consumer privacy laws, with Montana joining them on October 1. The new laws are similar to existing state data privacy laws in that they…more

Electronic Travel Authorization Program (eTA), Foreign Nationals, Immigration Procedures, Popular, UK

Loleini Williams

Expansion of UK ETA Scheme Announced

The UK Home Office published the dates that the United Kingdom’s Electronic Travel Authorisation (ETA) scheme will be rolled out to all applicable countries…more

Abbreviated New Drug Application (ANDA), Antitrust Division, Claim Construction, Hatch-Waxman, Inter Partes Review (IPR) Proceeding

Amanda Williamson

Pharma Review - Issue 3

Welcome to the third issue of the Morgan Lewis Pharma Review, which summarizes key recent cases from the Federal Circuit and district courts that impact the pharma space, including Federal Circuit and district court decisions in…more

Board of Directors, Delaware General Corporation Law, Fiduciary Duty, Mergers, Shareholders

Benjamin Wills

Amendments to DGCL Proposed After Chancery Decisions on M&A Practice and Stockholder Agreements on Corporate Governance Rights

The Council of the Corporation Law Section of the Delaware State Bar Association has proposed amendments to the Delaware General Corporation Law that, if enacted by the General Assembly, will address issues raised in three…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

Mari Wilson

1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Compensation Committee, Coronavirus/COVID-19, Executive Compensation, Publicly-Traded Companies

Carl Witkin

The COVID-19 Test for Compensation Committees

Compensation Committees are addressing whether compensation should be adjusted to reflect the effect of the coronavirus (COVID-19) pandemic on companies’ businesses and how to correlate executive compensation with changing…more

Victoria Mesquita Wlazlo

UAE Central Bank Takes Measures in Response to COVID-19

Measures under the Targeted Economic Support Scheme include allowing UAE banks to temporarily defer loan repayments and extend existing facilities for corporate and retail clients…more

Banks, Coronavirus/COVID-19, Deferred Action, Loans, Retail Banks

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Christina Wlodarczyk

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Structured Dismissals

Shannon Wolf

Great Atlantic & Pacific Tea Co. – Giving Structure to a Structured Dismissal

Most corporate bankruptcy filings result in either a plan of reorganization under Chapter 11 of the Bankruptcy Code (the Code) or a liquidation under Chapter 7 of the Code. Sometimes, however, neither option is viable and the…more

Bankruptcy Code, CARES Act, Commercial Bankruptcy, Coronavirus/COVID-19, Debtors

Craig Wolfe

Debtors Need Not Apply? Continuing Developments on the SBA’s Authority to Deny PPP Loans to Debtor Applicants

The Small Business Administration on April 24 issued an update to an interim final rule, crystalizing its view that applicants that have sought protection under the US Bankruptcy Code are not qualified borrowers under the…more

Jennifer Wollenberg

DC’s False Claims Act Enforcement Boosted By $40 Million Tax-Related Settlement

To generate revenue, increase enforcement resources, and “crack down on tax fraudsters,” the District of Columbia amended its False Claims Act (DC FCA) in 2021 to expressly impose liability arising from DC tax code violations…more

False Claims Act (FCA), Income Taxes, Qui Tam, Relators, Tax Code

Corporate Governance, Reporting Requirements, Securities and Exchange Commission (SEC), Shareholders

Matthew Wolock

Tailoring Shareholder Reports: SEC Finalizes Amendments to Registered Fund Shareholder Reporting Requirements

The US Securities and Exchange Commission (SEC) recently finalized rule and form amendments (Adopted Rules) that require mutual funds and most exchange-traded funds (ETFs) to provide shareholders with streamlined and “visually…more

Delisting, Nasdaq, Noncompliance, Securities and Exchange Commission (SEC)

Billy Wong

Nasdaq Proposes Stricter Delisting Rules for Noncompliance with Minimum Bid Price Requirement

The Nasdaq Stock Market LLC (Nasdaq) recently filed with the Securities and Exchange Commission (SEC) the proposed amendments to its rules regarding the delisting of penny stocks (i.e., shares with bid price below $1.00), aiming…more

Employer Liability Issues, Employment Contract, Employment Litigation, Singapore, TikTok

Kelley Wong

Singapore High Court Dismisses Application to Restrain Former Employee from Accepting Work with Competitor

In Shopee Singapore Private Limited v Lim Teck Yong [2024] SGHC 29 (Shopee v Lim), the Singapore High Court (HC) heard and dismissed an application by an international ecommerce platform, Shopee, to restrain its former employee…more

Capital Markets, Disclosure Requirements, Financial Conduct Authority (FCA), Listing Rules, UK

Nicholas Woolf

Publication of Final Listing Rules Marks Fundamental Overhaul of UK Listing Regime

The new UK listing regime, entering into force on 29 July 2024, is the result of more than three years and multiple rounds of consultation and is intended to make the UK a more attractive market for listing. The Listing Rules…more

Capital Markets, Comment Period, Cybersecurity, Financial Reporting, Internal Controls

Brittney Wozniak

SEC Releases Draft Strategic Plan for Fiscal Years 2022 to 2026

The US Securities and Exchange Commission recently released its draft Strategic Plan for fiscal years 2022 to 2026 for public comment. The Strategic Plan sets forth the following three key goals for the Securities and Exchange…more

Capital Markets, Disclosure Requirements, Financial Conduct Authority (FCA), Listing Rules, UK

Tomasz Wozniak

Publication of Final Listing Rules Marks Fundamental Overhaul of UK Listing Regime

The new UK listing regime, entering into force on 29 July 2024, is the result of more than three years and multiple rounds of consultation and is intended to make the UK a more attractive market for listing. The Listing Rules…more

Mortgage Lenders, Mortgages, Property Tax, Real Estate Market

Heena Wozny

C-Pace Financing: Exploring the Benefits and Risks

With real estate market conditions continuing to remain in flux, many developers and operators of real estate have been left searching for new partners and capital providers to finance acquisitions and development. One option…more

Iain Wright

UK Takeover Panel Makes Extensive Compensation and ‘Cold Shoulder’ Orders for UK Takeover Code Breaches

The UK Takeover Panel (Panel) has made its first-ever compensation order under the statutory powers granted to it under the Companies Act 2006 (CA 2006). It has also issued “cold shoulder” orders against 10 individuals, the most…more

Companies Act, Corporate Governance, Directors, UK

Banking Sector, Deposit Accounts, Deposit Insurance, Depository Institutions, FDIC

Ian Wright

SVB and Distressed Banks: Lessons Learned from a Wild Weekend

US governmental authorities, including the US Department of the Treasury, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation, took actions to provide both insured and uninsured…more

Department of Energy (DOE), Energy Sector, Federal Power Act, FERC

Pamela Tsang Wu

FERC Orders 1920 and 1977: The Latest Evolution in Transmission Planning and Oversight

The US federal government’s evolving role in overseeing transmission development took another leap forward after the Federal Energy Regulatory Commission (FERC) issued Orders 1920 and 1977, two new rules that mark FERC’s first…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Ami Wynne

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

China, CNIPA, Corporate Counsel, Generic Drugs, Intellectual Property Protection

Irene Xu

New Chinese Administrative Forum, CNIPA, Issues First Patent Infringement Decisions Against Generic Drug Makers

The China National Intellectual Property Administration, a newly established administrative authority on patent infringement disputes, recently issued its first decisions, addressing questions many companies had on the practical…more

Jensen Xu

What’s Driving the Future of Asia’s Tech Scene: Key Trends and Regulatory Updates

Heading into 2023, Asia’s tech scene is well-positioned for strong growth potential. As with any industry where advancement and innovation are outpacing regulation, the complex landscape can be difficult for businesses to…more

Asia, CFIUS, Data Privacy, Digital Assets, Due Diligence

Artificial Intelligence, Innovative Technology, OECD, Technology Sector

Shokoh Yaghoubi

AI Regulation in India: Current State and Future Perspectives

Artificial intelligence (AI) presents big opportunities and potential risks for countries around the globe, and India is no exception. India has a vast, burgeoning high-tech labor force. The country also attracts millions of…more

Nancy Yamaguchi

Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational…more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

Delisting, Nasdaq, Noncompliance, Securities and Exchange Commission (SEC)

Yiming (Carissa) Yang

Nasdaq Proposes Stricter Delisting Rules for Noncompliance with Minimum Bid Price Requirement

The Nasdaq Stock Market LLC (Nasdaq) recently filed with the Securities and Exchange Commission (SEC) the proposed amendments to its rules regarding the delisting of penny stocks (i.e., shares with bid price below $1.00), aiming…more

Comment Period, Environmental Social & Governance (ESG), Investment Company Act of 1940, Proposed Amendments, Public Comment

Joseph Yanoshik

The Name Game: SEC Proposes Expanding Scope of Registered Funds’ ‘Names Rule’

In a 3-1 vote, the US Securities and Exchange Commission on May 25 proposed amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Names Rule) that, if adopted as proposed, could cause new entrants and existing…more

Financial Services Industry, Monetary Authority of Singapore, Payment Systems, Singapore

Wai Ming Yap

Singapore Revises Its Guidelines on Licensing for Payment Service Providers

The Monetary Authority of Singapore (MAS) published updates to its Guidelines on Licensing for Payment Service Providers [PS-G01] (the Guidelines), which will take effect on August 26, 2024. The revisions to the Guidelines are…more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Popular, Renewable Energy

William Yonge

ESG Investing: A Global Regulatory Review and Outlook

As environmental, social, and governance (ESG) considerations become increasingly central to investment strategies worldwide, the regulatory landscapes governing ESG investing are evolving rapidly across different regions…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), IRS

Gaeun Yoo

Secure Act 2.0: DOL and IRS Issue Coordinated Guidance on PLESAS

The US Department of Labor and Internal Revenue Service have issued coordinated guidance on the pension-linked emergency savings account (PLESA), a new in-plan emergency savings account feature created by the SECURE 2.0 Act of…more

Clinical Trials, Department of Health and Human Services (HHS), Food and Drug Administration (FDA), Life Sciences, Medical Devices

Jonathan York

Manufacturers Should Carefully Evaluate OIG’s Approval of Medicare Cost Sharing Subsidies in Clinical Trials

At the end of last year, the US Department of Health and Human Services Office of Inspector General (OIG) issued an Advisory Opinion (AO 23-11, the Opinion) in which OIG approved an arrangement where a medical device…more

Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Medicare, Physician Fee Schedule, Physicians

Howard Young

CMS Proposes Additional Revisions to the 60-Day Rule

The Centers for Medicare & Medicaid Services has issued its Calendar Year 2025 Medicare Physician Fee Schedule Proposed Rule, scheduled for publication in the Federal Register on July 31, 2024. In response to industry concerns…more

Diversity, Employer Liability Issues, International Labor Laws, Remote Working, Visas

Vivien Yu

Remote Work is Key for Building and Retaining Tech Talent in Asia

Asia’s technology sector presents numerous challenges for employers, with legal frameworks that not only differ across regions but can also be layered with cultural nuances. Because competition for talent in Asia spans the…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

Mims Maynard Zabriskie

Texas Federal Court ‘Sets Aside’ FTC’s Noncompete Clause Rule

Judge Ada Brown of the US District Court for the Northern District of Texas entered a final judgment in Ryan LLC v. Federal Trade Commission (FTC) on August 20, 2024, holding unlawful and setting aside the FTC Noncompete Clause…more

Biden Administration, Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Offshore Wind

Arshak Zakarian

US Offshore Wind Roundup as of March 2023

Despite global economic headwinds, the US offshore wind industry has continued to slowly but steadily blossom, driven largely by enhanced vision and cooperation among federal government agencies under the Biden administration,…more

Joseph Zargari

Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative…more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

Coronavirus/COVID-19, Infectious Diseases, New Legislation, Relief Measures, Sick Leave

Jennifer Zargarof

California Retroactively Extends Sick Leave Coverage for Employees Affected by COVID-19

California Governor Gavin Newsom signed into law Senate Bill 95 (SB 95) on March 19, 2021. SB 95 requires employers to provide employees with supplemental paid sick leave (CSPSL) for various absences related to COVID-19 and…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Richard Zarin

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Competition, Department of Justice (DOJ)

Dennie Zastrow

DOJ Emphasizes Importance of Antitrust Compliance Programs for HR Professionals

The US Department of Justice’s Antitrust Division recently stated that antitrust compliance programs must include training for human resources professionals on issues such as wage-fixing and no-poach agreements in order to be…more

Cosimo Zavaglia

Upcoming Deadline to Dispute California Property Tax Valuation

For California property owners that could potentially reduce their property taxes with a decline-in-value assessment appeal, the property tax assessment appeals for 2024 are due by either September 16 or December 2 depending on…more

Property Owners, Property Tax, Property Valuation, State Taxes, Tax Assessment

Employer Mandates, Independent Contractors, Outsourcing, Temporary Employees, Venezuela

Mark Zelek

Venezuelan Employers Must Immediately Put Outsourced Employees on Payroll

The grace period for implementation has expired. Venezuelan employers were required to incorporate outsourced employees into their payroll as of May 7 to meet the deadline for the 2012 Organic Law of Labor and Workers…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Final Rules, Internal Revenue Code (IRC)

David Zelikoff

Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 4—Timing of Taxation under Code Sections 83, 3121(v), and 457(f)

This is the fourth part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC) banning the enforcement of almost all noncompete…more

AML/CFT, Anti-Money Laundering, Financial Institutions, Hong Kong Securities and Futures Commission (HKSFC), Terrorist Financing Regulations

Yan Zeng

Hong Kong Securities and Futures Commission Consults on Regulation of Virtual Asset Trading Platforms

To prepare for commencement of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance regime for virtual asset service providers, the Hong Kong Securities and Futures Commission is conducting a consultation on the…more

Environmental Protection Agency (EPA), Groundwater, Insurance Industry, Water

Paul Zevnik

Electric Utilities Affected by Recent EPA Regulation May Benefit from Legacy Liability Insurance Policies

The US Environmental Protection Agency (EPA) on May 8, 2024 expanded the obligations of coal-fired power plants to remediate coal ash-related groundwater impacts with amendments to the federal Coal Combustion Residual (CCR)…more

Advertising, Endorsements, Fake Reviews, Federal Trade Commission (FTC), FTC Endorsement Guidelines

Caitlin Zeytoonian

FTC Issues Final Rule on Consumer Reviews and Testimonials

Earlier this month, the Federal Trade Commission (FTC or Commission) published a final rule prohibiting certain specified unfair or deceptive acts or practices involving consumer reviews and testimonials. Effective October 21,…more

James Zhang

Unveiling and Preventing Common Expense Fraud Schemes in China

In this LawFlash, we outline the expense fraud scheme reported in a 2019 case involving the crime of illegal sale of “fapiaos,” examine some typical expense fraud schemes in China, and provide our practical takeaways with regard…more

China, Fraud, Purchase and Sale Agreements, Reimbursements, White Collar Crimes

Delisting, Nasdaq, Noncompliance, Securities and Exchange Commission (SEC)

Ning Zhang

Nasdaq Proposes Stricter Delisting Rules for Noncompliance with Minimum Bid Price Requirement

The Nasdaq Stock Market LLC (Nasdaq) recently filed with the Securities and Exchange Commission (SEC) the proposed amendments to its rules regarding the delisting of penny stocks (i.e., shares with bid price below $1.00), aiming…more

Board of Directors, Corporate Governance, India, Publicly-Traded Companies, Shareholders

Yujie Zhang

‘… this isn’t Hotel California’ (or India’s New Fixed Offer Price Mechanism for Taking Public Companies Private)

The Securities and Exchange Board of India has decided to simplify the process of taking public companies private in India by permitting fixed-price delisting offers as an alternative to the existing requirement of determining…more

China, Coronavirus/COVID-19, Employer Liability Issues, Health and Safety, Infectious Diseases

Xiaoqian Zhou

Managing Employment Issues During the Current COVID-19 Lockdown in Shanghai

In response to the spread of the COVID-19 omicron variant, Shanghai implemented a general lockdown in April 2022. This LawFlash provides multinational companies with operations in Shanghai, People’s Republic of China with…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

Shaobin Zhu

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

China, Employee Benefits, International Labor Laws, Retirement

Yuting Zhu

China Announces Plan to Gradually Increase Statutory Retirement Age

China has released its plan to raise the statutory retirement age for male and female employees. The increase will start to gradually take effect from January 1, 2025. The ultimate retirement age set by statute will continue to…more

Bankruptcy Court, Bankruptcy Trustees, Chapter 11, Constitutional Challenges, Fees

Matthew Ziegler

SCOTUS Punts on Remedy for Unconstitutional Chapter 11 Quarterly Fee Increase

Earlier this year, we highlighted the US Supreme Court’s grant of certiorari in Siegel v. Fitzgerald (In re Circuit City Stores, Inc.) to determine whether a 2017 statute that increased Chapter 11 quarterly fees was…more

Brian Zimbler

Russia Sanctions Update – US / EU (And Brexit-UK) Overview And Energy Sector Focus & Russian Countersanctions, as of 10 December 2020

The still evolving US sanctions (as well as the EU and now also separate UK sanctions) continue to challenge Russia-related business. The sanctions frameworks are complex, changing, and, at times, inconsistent as well as…more

Bureau of Industry and Security (BIS), CAATSA, Crimea, Economic Sanctions, EU

Jonathan Zimmerman

Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair…more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

Amusement Parks, Biometric Information, Biometric Information Privacy Act, Data Collection, Data Privacy

Tyler Zmick

Harm Is Not Required to Sue Under Illinois Biometric Privacy Statute

In a significant ruling for businesses operating in Illinois, the Illinois Supreme Court held that plaintiffs are not required to allege actual harm to sue for liquidated damages and/or injunctive relief under the state’s…more

Christian Zschocke

German Federal Court of Justice Strengthens Minimum Offer Price Rules Under German Securities Acquisitions and Takeover Act - Legal Insights Germany

The German Federal Court of Justice (FCJ), in two recent judgments (case numbers II ZR 219/21 and II ZR 220/21), awarded former shareholders of a target company that accepted a takeover offer payment claims for the difference…more

Acquisitions, Capital Markets, Germany, Shareholders

Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board, Patents, SAS Institute Inc. v Iancu, SCOTUS

Austin Zuck

US Supreme Court Strikes Down Partial Institutions in IPRs

The ruling in SAS Institute v. Iancu, which requires final written decisions on all or none of the challenged claims, will lead petitioners to carefully consider their strategy on which claims to challenge in an inter partes…more