Morgan Lewis

ISS Releases Four Sets of FAQs, Glass Lewis Provides an Update, and FASB and IASB Make Certain Decisions Relevant to Equity Compensation Plans

Proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis have both released updates to their policies that outline how they will form recommendations to shareholders on how they should vote on governance,…more

3/6/2015 | Business Organizations, Finance & Banking, Labor & Employment Law, Securities Law

U.S. Supreme Court Holds DMA’s Action Is Not Barred By Tax Injunction Act

The U.S. Supreme Court unanimously held that the Tax Injunction Act does not bar Direct Marketing Association’s federal court challenge to Colorado’s sales and use tax notice and reporting requirements…more

3/6/2015 | Civil Procedure, Civil Remedies, Commercial Law & Contracts, Taxation

Revised Rural Call Completion Reporting Requirements Effective April 1

Covered providers must begin collecting and retaining rural call completion data as of April 1, to be reported beginning August 1. On March 4, the Federal Communications Commission (FCC or the Commission) published in the…more

3/6/2015 | Communications & Media Law

Certain Goods and Services Now Eligible for Importation into the United States from Cuba

The U.S. Department of State published its Section 515.582 List that outlines which goods and services produced by independent Cuban entrepreneurs are eligible for importation into the United States…more

3/5/2015 | Administrative Law, Commercial Law & Contracts, Finance & Banking, International Law & Trade

SEC Recommends "Localized" FCPA Controls For Foreign Subsidiaries

The SEC investigation found that the respondent lacked sufficient internal controls to prevent and detect approximately $230,000 in improper payments made by its China-based offices that falsely recorded the payments in books…more

3/5/2015 | Civil Remedies, Commercial Law & Contracts, International Law & Trade, Securities Law

Supreme Court Ruling's Implications for Healthcare Professions

The U.S. Supreme Court ruled that a state professional board controlled by active market participants must be supervised by a state to enjoy protection from federal antitrust laws…more

3/5/2015 | Administrative Law, Antitrust & Trade Regulation, Civil Procedure, Health

New Guidance from the SEC on Gifts to Adviser Personnel

SEC Staff from the Division of Investment Management has issued guidance on receipt of gifts by investment adviser personnel who manage registered funds…more

3/5/2015 | Commercial Law & Contracts, Finance & Banking, Securities Law

DOL Sends Proposed Conflict of Interest Rule to OMB for Review

The White House backs a “fiduciary rule” for IRAs. The U.S. Department of Labor (DOL) has sent its proposed “Conflict of Interest Rule-Investment Advice” to the president’s Office of Management and Budget (OMB) for…more

3/5/2015 | Labor & Employment Law, Finance & Banking, Taxation

DOL Publishes New FMLA Regulations That Redefine "Spouse"

The Final Rule takes effect on March 27 and redefines “spouse” under the FMLA to reflect the law in the state where the marriage was performed. On February 25, the U.S. Department of Labor (DOL) published a final rule…more

3/3/2015 | Civil Procedure, Civil Rights, Labor & Employment Law, Family Law

Accessibility Standards for Equipment Covered By the Communications Act

New accessibility requirements could affect information and communications technology providers of computers, telecommunications equipment, software, and websites. In a notice of proposed rulemaking (NPRM) published in the…more

3/3/2015 | Administrative Law, Communications & Media Law, Science, Computers, & Technology

SEC May Seek Companies’ Agreements to Determine Whistleblower Treatment

The SEC continues to focus on its whistleblower initiative. According to a February 25 Wall Street Journal article titled “SEC Probes Companies’ Treatment of Whistleblowers,” the U.S. Securities and Exchange Commission…more

3/2/2015 | Business Organizations, Commercial Law & Contracts, Labor & Employment Law, Finance & Banking, Securities Law

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

3/2/2015 | Finance & Banking

FCC Adopts Open Internet (Net Neutrality) Rules

The order classifies broadband Internet access as a telecommunications service. The Federal Communications Commission (FCC or Commission) today voted, by a 3-2 margin, to adopt rules designed to promote an open Internet…more

2/27/2015 | Administrative Law, Communications & Media Law, Science, Computers, & Technology

FINRA Issues Guidance on Materiality Consultations

The Overview addresses, among other things, categories of information and other factors that firms should consider when assessing materiality of prospective business initiatives…more

2/25/2015 | Administrative Law, Finance & Banking, Securities Law

USCIS Publishes Rule to Permit Employment Authorization for Some H-4 Spouses

The rule creates employment eligibility for H-4 spouses where the H-1B principal is subject to I-140 backlogs or is AC-21 eligible. In a release issued earlier today, U.S. Citizenship and Immigration Services (USCIS)…more

2/25/2015 | Immigration Law, Labor & Employment Law