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CFTC Fines Summit Energy Services, Inc. for Violating CTA Registration Rules Under the Commodity Exchange Act

On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity…more

CFTC, Civil Monetary Penalty, Commodities Exchange Act, CTA, Enforcement Actions

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Insurance Topics We Will Be Watching in 2014

With the first month of the year behind us, this report outlines major insurance topics that we will be watching throughout 2014. Forces, trends and events that we believe will affect regulation, transactions and…more

Affordable Care Act, Casualty Insurance, Federal Insurance Office, Healthcare, Healthcare Reform

See All Updates »

MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

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FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

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Broker-Dealers Face Unique Challenges Under Unclaimed Property Laws, Says New SIFMA White Paper

On January 23, 2015, the Securities Industry and Financial Markets Association (SIFMA) released a new white paper outlining the unique and varied challenges broker-dealers face when complying with state unclaimed property laws…more

Broker-Dealer, Securities, SIFMA, Unclaimed Property, White Paper

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New York State ALJ Determines Travel Reservation Facilitation Receipts and Online Advertising Receipts Constitute Service Receipts That Must Be Sourced Where Performed For Income Tax Purposes

There has been significant controversy in New York regarding whether receipts from services—particularly those that may be delivered via the Internet—constitute “service” receipts or “other business receipts” for corporate…more

Corporate Taxes, eCommerce, Internet, State Taxes

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Broker-Dealers Face Unique Challenges Under Unclaimed Property Laws, Says New SIFMA White Paper

On January 23, 2015, the Securities Industry and Financial Markets Association (SIFMA) released a new white paper outlining the unique and varied challenges broker-dealers face when complying with state unclaimed property laws…more

Broker-Dealer, Securities, SIFMA, Unclaimed Property, White Paper

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Legal Alert: Isolated Genes No Longer Patentable: Supreme Court Reverses Federal Circuit in Myriad Case

In a thinly worded unanimous decision in Assn. for Molecular Pathology v. Myriad Genetics, Inc. on June 13, 2013, the U.S. Supreme Court held that patent claims directed to genes are not patent eligible despite being claimed in…more

AMP v Myriad, DNA, Human Genes, Myriad, Patent-Eligible Subject Matter

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

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Texas Supreme Court Limits Fraud Claims by Terminated Employees

In a case of first impression, the Supreme Court of Texas declared that at-will employees may not bring an action for fraud that is contingent on the promise of continued at-will employment. The Court also held that employees…more

At-Will Employment, Collective Bargaining, Fraud, Hiring & Firing, Termination

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Another Software Patent is Ruled Patent-Ineligible - Are Business Method and Software Patents at Risk?

On November 14, 2014, in a much-anticipated decision following the U.S. Supreme Court’s decision in Alice v. CLS Bank, a unanimous U.S. Court of Appeals for the Federal Circuit held in Ultramercial, L.L.C. v. WildTangent, Inc…more

CLS Bank v Alice Corp, Copyrights, Covered Business Method Patents, Mayo v. Prometheus, Online Advertisements

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Supreme Court Holds Dismissal of Individual Case in MDL Proceedings Is Immediately Appealable

The U.S. Supreme Court unanimously held yesterday in Gelboim v. Bank of America Corp., No. 13-1174, that an order disposing of an individual case previously consolidated with other cases for multidistrict litigation (MDL)…more

Antitrust Litigation, Appeals, Banks, Gelboim v Bank of America, Multidistrict Litigation

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Life Insurance Unclaimed Property Recommendations of the Uniform Law Commission Working Group

The Uniform Law Commission (ULC) Life Insurance Working Group (Working Group) has released its recommendations to revise the life insurance provisions of the Uniform Unclaimed Property Act of 1995 (1995 Uniform Act or Uniform…more

Insurance Industry, Life Insurance, Unclaimed Life Insurance Benefits Act, Unclaimed Property

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Redial: 2014 TCPA Year In Review – Analysis Of Critical Issues And Trends

In this Analysis: - New TCPA Rules Take Effect for Telemarketing Calls - Just the Fax: Recent TCPA Developments on Liability for Unsolicited Faxes and Fax Opt-Out Notices - TCPA Best Practices: Consent,…more

Best Practices, Insurance Industry, Opt-Outs, Popular, Prior Express Consent

See All Updates »

MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

CFTC Fines Summit Energy Services, Inc. for Violating CTA Registration Rules Under the Commodity Exchange Act

On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity…more

CFTC, Civil Monetary Penalty, Commodities Exchange Act, CTA, Enforcement Actions

See All Updates »

Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

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EPA to Publish Rule Rescinding Greenhouse Gas Permits and Will Not Enforce Existing Permits

On December 19, the U.S. Environmental Protection Agency (EPA) issued two memos – Next Steps for Addressing EPA-Issued Step 2 Prevention of Significant Deterioration Greenhouse Gas Permits and Associated Requirements and No…more

Enforcement, EPA, Greenhouse Gas Emissions, Permits, SCOTUS

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Massachusetts Treasurer Demands National Mutual Fund Records in Multistate Unclaimed Property Audit

Late this summer, the Massachusetts Treasurer demanded mutual fund records on a nationwide basis as part of a multistate unclaimed property audit. Thirty-five (35) states are involved in the audit, but the Treasurer has sought…more

Audits, Death Master Files, IRA, Mutual Funds, Social Security Adminstration

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The Aftermath of a Section 355 Transaction

In this article: - Mechanics of Section 355 - Framework for analysis - Deviation from asserted corporate business purpose - Post-spin events involving Distributing or Controlled assets -…more

Articles of Incorporation, Corporate Charters, Section 355, Stocks

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

See All Updates »

MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

Broker-Dealers Face Unique Challenges Under Unclaimed Property Laws, Says New SIFMA White Paper

On January 23, 2015, the Securities Industry and Financial Markets Association (SIFMA) released a new white paper outlining the unique and varied challenges broker-dealers face when complying with state unclaimed property laws…more

Broker-Dealer, Securities, SIFMA, Unclaimed Property, White Paper

See All Updates »

Congress Authorizes New Ukraine-Related Sanctions Against Russia

On December 18th, President Obama signed into law the “Ukraine Freedom Support Act of 2014,” authorizing stricter sanctions against Russia, and also increasing military and non-military assistance for Ukraine. Although the new…more

Banking Sector, Barack Obama, Defense Sector, Energy Sector, Oil & Gas

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Legal Alert: Final Volcker Rule: Update and Key Takeaways for Insurers

On December 10, 2013, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, and the Commodity Futures Trading…more

Bank Holding Company Act, Banks, CFTC, Collateralized Debt Obligations, Dodd-Frank

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New SEC Guidance Adds Flexibility to BDC Co-Investing

The U.S. Securities and Exchange Commission (SEC) Division of Investment Management (the Division) just published guidance that will permit business development companies (BDCs) to co-invest with certain persons considered…more

Affiliates, Business Development, Business Development Companies, Equity Investors, Investment Company Act of 1940

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SST Governing Board Considers "Best Practices" Matrix and Marketplace Fairness Implementation; SLAC Contemplates Digital Goods Sourcing

The Streamlined Sales Tax Governing Board (SSTGB), as well as its State and Local Advisory Council (SLAC) and Business Advisory Council (BAC), assembled in Minneapolis this week to discuss a number of policy matters related to…more

Digital Goods, Marketplace Fairness Act, State and Local Government

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NAIC 2014 Fall National Meeting and Congressional Hearing on Global Standards in Insurance Regulation

The National Association of Insurance Commissioners (NAIC) met for its Fall National Meeting in Washington, D.C. from November 14th through November 19th. As with prior meetings, competition among state, Federal and…more

Congressional Investigations & Hearings, Insurers, NAIC, Regulatory Agenda, Regulatory Standards

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

The Ninth Circuit Raises Pleading Standards for FLSA Plaintiffs

The U.S. Court of Appeals for the Ninth Circuit makes pleading Fair Labor Standards Act (FLSA) violations more difficult by applying the heightened standard in Bell Atlantic Corp. v. Twombly, 550 U.S. 544 (2007), and Ashcroft v…more

Employer Liability Issues, FLSA, Minimum Wage, Pleading Standards, Twombly/Iqbal Pleading Standard

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Mandatory Clearing in Europe May Still Be “A Ways Off”: ESMA Responds to Proposed Amendments on Interest Rate Swaps Clearing RTS and Postpones Consideration of FX NDF Clearing

The Dodd-Frank Wall Street Reform and Consumer Protection Act’s mandatory clearing requirement for interest rate swaps and certain credit default swaps has been in place for quite some time. However, the clearing requirement for…more

Dodd-Frank, EMIR, ESMA, EU, European Securities and Markets Authority

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The CFPB Proposes to Supervise Nonbanks that Perform One Million or More International Money Transfers Per Year

On January 23, 2014, the Consumer Financial Protection Bureau (CFPB) proposed a rule whereby the definition of “larger participants” will be expanded to include nonbanks that perform one million or more international money…more

CFPB, Compliance, Enforcement, Money Transfer, Nonbank Firms

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New Jersey Creates More Difficult Independent Contractor Test for State Wage Law Purposes

On Wednesday, the Supreme Court of New Jersey articulated the test to be used in determining whether a worker is an independent contractor or employee for purposes of the state’s Wage Payment Law and Wage and Hour Law. Any…more

Employee Definition, Employer Liability Issues, FLSA, Independent Contractors, Wage and Hour

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Legal Alert: Largest SEC Whistleblower Award Could Have Been Larger

On September 22, 2014, the U.S. Securities and Exchange Commission announced the largest-ever whistleblower award, more than double last year’s record-breaking award. According to the Order, the award, which will likely exceed…more

Dodd-Frank, Extraterritoriality Rules, Foreign Nationals, SEC, Whistleblower Awards

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U.S. Government Resets Cuban Policy and Eases Sanctions Against Cuba

Yesterday, President Obama announced that the United States and Cuba will begin talks to resume full diplomatic relations and partially lift travel and economic sanctions and restrictions, some of which have existed for more…more

Barack Obama, Cuba, Embargo, Foreign Relations, Sanctions

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Redial: 2014 TCPA Year In Review – Analysis Of Critical Issues And Trends

In this Analysis: - New TCPA Rules Take Effect for Telemarketing Calls - Just the Fax: Recent TCPA Developments on Liability for Unsolicited Faxes and Fax Opt-Out Notices - TCPA Best Practices: Consent,…more

Best Practices, Insurance Industry, Opt-Outs, Popular, Prior Express Consent

See All Updates »

Mandatory Clearing in Europe May Still Be “A Ways Off”: ESMA Responds to Proposed Amendments on Interest Rate Swaps Clearing RTS and Postpones Consideration of FX NDF Clearing

The Dodd-Frank Wall Street Reform and Consumer Protection Act’s mandatory clearing requirement for interest rate swaps and certain credit default swaps has been in place for quite some time. However, the clearing requirement for…more

Dodd-Frank, EMIR, ESMA, EU, European Securities and Markets Authority

See All Updates »

Redial: 2014 TCPA Year In Review – Analysis Of Critical Issues And Trends

In this Analysis: - New TCPA Rules Take Effect for Telemarketing Calls - Just the Fax: Recent TCPA Developments on Liability for Unsolicited Faxes and Fax Opt-Out Notices - TCPA Best Practices: Consent,…more

Best Practices, Insurance Industry, Opt-Outs, Popular, Prior Express Consent

See All Updates »

Legal Alert: Largest SEC Whistleblower Award Could Have Been Larger

On September 22, 2014, the U.S. Securities and Exchange Commission announced the largest-ever whistleblower award, more than double last year’s record-breaking award. According to the Order, the award, which will likely exceed…more

Dodd-Frank, Extraterritoriality Rules, Foreign Nationals, SEC, Whistleblower Awards

See All Updates »

CFTC Fines Summit Energy Services, Inc. for Violating CTA Registration Rules Under the Commodity Exchange Act

On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity…more

CFTC, Civil Monetary Penalty, Commodities Exchange Act, CTA, Enforcement Actions

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Are we headed toward “Basic writ small”?

The U.S. Supreme Court heard oral argument yesterday in the closely watched Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317, which places in the Court’s crosshairs the continued viability of the fraud-on-the-market…more

Basic v Levinson, Fraud-on-the-Market, Halliburton, Halliburton v Erica P. John Fund, SCOTUS

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Another Software Patent is Ruled Patent-Ineligible - Are Business Method and Software Patents at Risk?

On November 14, 2014, in a much-anticipated decision following the U.S. Supreme Court’s decision in Alice v. CLS Bank, a unanimous U.S. Court of Appeals for the Federal Circuit held in Ultramercial, L.L.C. v. WildTangent, Inc…more

CLS Bank v Alice Corp, Copyrights, Covered Business Method Patents, Mayo v. Prometheus, Online Advertisements

See All Updates »

MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

After All the Preparation, It’s Finally Here: FATCA Becomes Effective July 1, 2014

More than four years after Congress enacted the Hiring Incentives to Restore Employment Act of 2010, Pub. L. 111-147, which added the Foreign Account Tax Compliance Act (FATCA) provisions to the Internal Revenue Code, FATCA will…more

FATCA, FFI, Form W-8, Intergovernmental Agreements, IRS

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Massachusetts Treasurer Demands National Mutual Fund Records in Multistate Unclaimed Property Audit

Late this summer, the Massachusetts Treasurer demanded mutual fund records on a nationwide basis as part of a multistate unclaimed property audit. Thirty-five (35) states are involved in the audit, but the Treasurer has sought…more

Audits, Death Master Files, IRA, Mutual Funds, Social Security Adminstration

See All Updates »

2014 in Review: ERISA Individual Prohibited Transaction Exemptions and Advisory Opinions

In 2014, the Department of Labor (DOL) maintained a diminished program of advance guidance under the Employment Retirement Income Security Act of 1974, as amended (ERISA), in response to requests from the regulated community…more

Affordable Care Act, DOL, EBSA, ERISA, Exemptions

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To the Direct Acquirer Belong the Tax Attributes: Proposed Regulations Modify the Definition of Acquiring Corporation for Purposes of IRC § 381

On May 7, Treasury and the IRS published proposed regulations addressing which corporation succeeds to the tax attributes of another corporation that transfers assets in an acquisitive asset reorganization described in IRC §§…more

Acquisitions, Asset Transfer, Business Assets, IRC, IRS

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Legal Alert: A Little Rule With Big Implications: USPTO Implements New Fee Schedule Including a 75% Reduction in Patent Fees for Applicants Qualifying for "Micro Entity" Status

On March 19, 2013, the United States Patent and Trademark Office (USPTO) implemented a new fee schedule as authorized by the Leahy-Smith America Invents Act (Act). Among numerous changes in the fees for patent services provided…more

America Invents Act, Micro Entity Status, Patent Applications, Patent Fees, Patent Reform

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Redial: 2014 TCPA Year In Review – Analysis Of Critical Issues And Trends

In this Analysis: - New TCPA Rules Take Effect for Telemarketing Calls - Just the Fax: Recent TCPA Developments on Liability for Unsolicited Faxes and Fax Opt-Out Notices - TCPA Best Practices: Consent,…more

Best Practices, Insurance Industry, Opt-Outs, Popular, Prior Express Consent

See All Updates »

2014 in Review: ERISA Individual Prohibited Transaction Exemptions and Advisory Opinions

In 2014, the Department of Labor (DOL) maintained a diminished program of advance guidance under the Employment Retirement Income Security Act of 1974, as amended (ERISA), in response to requests from the regulated community…more

Affordable Care Act, DOL, EBSA, ERISA, Exemptions

See All Updates »

Legal Alert: The 2012 Tax Litigation Year in Review: Important Events

The year 2012 was quite an interesting one for tax controversy. Whereas 2011 brought a win for the Treasury on deference issues in Mayo Foundation for Medical Ed. v. United States, 131 S. Ct. 704 (2011), 2012 was the year courts…more

Administrative Procedure Act, Dominion Resources, FICA Taxes, H&M, Hewlett-Packard

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

See All Updates »

S.D.N.Y. Judge Permits Novel Theory And Allows SEC To Use Unpaid Taxes As Measure Of Disgorgement In Securities Fraud Case

In a case against Dallas billionaires Sam Wyly and the estate of his late brother, Charles, Judge Shira Scheindlin of the U.S. District Court for the Southern District of New York agreed with the U.S. Securities and Exchange…more

Corporate Counsel, Disgorgement, IRS, Offshore Funds, Popular

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California Joins Maryland and Ohio in Addressing “Price Optimization”

The California Insurance Commissioner issued a notice on February 18, 2015 to more than 750 property and casualty insurers doing business in California, announcing that “any use of Price Optimization in the ratemaking/pricing…more

Casualty Insurance, Insurance Commissioners, Insurance Companies, Price Discrimination, Price Optimization

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The Ninth Circuit Raises Pleading Standards for FLSA Plaintiffs

The U.S. Court of Appeals for the Ninth Circuit makes pleading Fair Labor Standards Act (FLSA) violations more difficult by applying the heightened standard in Bell Atlantic Corp. v. Twombly, 550 U.S. 544 (2007), and Ashcroft v…more

Employer Liability Issues, FLSA, Minimum Wage, Pleading Standards, Twombly/Iqbal Pleading Standard

See All Updates »

SST Governing Board Considers "Best Practices" Matrix and Marketplace Fairness Implementation; SLAC Contemplates Digital Goods Sourcing

The Streamlined Sales Tax Governing Board (SSTGB), as well as its State and Local Advisory Council (SLAC) and Business Advisory Council (BAC), assembled in Minneapolis this week to discuss a number of policy matters related to…more

Digital Goods, Marketplace Fairness Act, State and Local Government

See All Updates »

CFTC Fines Summit Energy Services, Inc. for Violating CTA Registration Rules Under the Commodity Exchange Act

On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity…more

CFTC, Civil Monetary Penalty, Commodities Exchange Act, CTA, Enforcement Actions

See All Updates »

Solar Products from China and Taiwan Face Major New Investigations

On February 14, the U.S. International Trade Commission (“ITC”) voted to go forward with the new antidumping and countervailing duty cases filed on New Year’s Eve by SolarWorld Industries America, Inc., the U.S. solar panel unit…more

Antidumping Duties, China, Countervailing Duties, Investigations, ITC

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Legal Alert: The Tax Court Approves the Use of Predictive Coding

On September 17, the U.S. Tax Court, in Dynamo Holdings LP v. Commissioner, 143 T.C. No. 9 (Sept. 17, 2014), held that a taxpayer could use predictive coding, over the objection of the Internal Revenue Service (IRS), to identify…more

Attorney-Client Privilege, Discovery, Electronically Stored Information, Federal Rules of Civil Procedure, IRS

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Inherited IRAs Are Not Bankruptcy-Exempt as “Retirement Funds”

On June 12, 2014, the U.S. Supreme Court unanimously held in Clark v. Rameker that an inherited individual retirement account (IRA) does not qualify for the “retirement funds” exemption in the Bankruptcy Code and is not excluded…more

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

Redial: 2014 TCPA Year In Review – Analysis Of Critical Issues And Trends

In this Analysis: - New TCPA Rules Take Effect for Telemarketing Calls - Just the Fax: Recent TCPA Developments on Liability for Unsolicited Faxes and Fax Opt-Out Notices - TCPA Best Practices: Consent,…more

Best Practices, Insurance Industry, Opt-Outs, Popular, Prior Express Consent

See All Updates »

Life Insurance Unclaimed Property Recommendations of the Uniform Law Commission Working Group

The Uniform Law Commission (ULC) Life Insurance Working Group (Working Group) has released its recommendations to revise the life insurance provisions of the Uniform Unclaimed Property Act of 1995 (1995 Uniform Act or Uniform…more

Insurance Industry, Life Insurance, Unclaimed Life Insurance Benefits Act, Unclaimed Property

See All Updates »

Legal Alert: Final Volcker Rule: Update and Key Takeaways

On December 10, 2013, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission and the Commodity Futures…more

Bank Holding Company Act, Banks, CFTC, Collateralized Debt Obligations, Compliance

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President Signs Changes to Collins Amendment Favorable to Insurers

On December 18, President Obama signed into law the Insurance Capital Standards Clarification Act of 2014 (the Act). The Act makes it clear that the Board of Governors of the Federal Reserve (the Fed) is not required to apply…more

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2014 in Review: ERISA Individual Prohibited Transaction Exemptions and Advisory Opinions

In 2014, the Department of Labor (DOL) maintained a diminished program of advance guidance under the Employment Retirement Income Security Act of 1974, as amended (ERISA), in response to requests from the regulated community…more

Affordable Care Act, DOL, EBSA, ERISA, Exemptions

See All Updates »

MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

Counterparty Rights in Energy Bankruptcies

For the past several years, low interest rates and higher commodity prices have resulted in generally favorable financial conditions in the energy sector, keeping energy bankruptcy activity to a minimum. With the recent sharp…more

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Insurance Topics We Will Be Watching in 2014

With the first month of the year behind us, this report outlines major insurance topics that we will be watching throughout 2014. Forces, trends and events that we believe will affect regulation, transactions and…more

Affordable Care Act, Casualty Insurance, Federal Insurance Office, Healthcare, Healthcare Reform

See All Updates »

Redial: 2014 TCPA Year In Review – Analysis Of Critical Issues And Trends

In this Analysis: - New TCPA Rules Take Effect for Telemarketing Calls - Just the Fax: Recent TCPA Developments on Liability for Unsolicited Faxes and Fax Opt-Out Notices - TCPA Best Practices: Consent,…more

Best Practices, Insurance Industry, Opt-Outs, Popular, Prior Express Consent

See All Updates »

Texas Supreme Court Rules CGL Policy’s “Contractual Liability" Exclusion Does Not Bar Coverage for Claims Arising From Construction Defects

On January 17, 2014, the Supreme Court of Texas rejected a commercial general liability (“CGL”) insurer’s attempt to invoke the “contractual liability” exclusion to deny coverage under a standard CGL policy regarding a…more

Breach of Contract, Commercial General Liability Policies, Construction Contracts, Construction Defects, Construction Disputes

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Legal Alert: CFPB Proposes to Examine and Directly Supervise Nonbank Auto Lenders

On September 17, the Consumer Financial Protection Bureau (CFPB) proposed to make nonbank automobile lenders subject to the examination and direct supervision of the Bureau. The proposed rule can be found here. Under the…more

Automotive Industry, Automotive Loans, CFPB, Larger Participant, Nonbank Firms

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CFTC Fines Summit Energy Services, Inc. for Violating CTA Registration Rules Under the Commodity Exchange Act

On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity…more

CFTC, Civil Monetary Penalty, Commodities Exchange Act, CTA, Enforcement Actions

See All Updates »

FERC Issues Proposed Policy Statement on Cost Recovery Mechanisms for Modernization of Natural Gas Facilities

On November 20, the Federal Energy Regulatory Commission (Commission) issued a Proposed Policy Statement on cost recovery mechanisms, such as trackers or surcharges, that pipelines may use to recoup infrastructure modernization…more

EPA, FERC, Natural Gas, Oil & Gas, PHMSA

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U.S. Supreme Court Unanimously Rules That Juries Should Decide Trademark Tacking

In its first substantive trademark ruling in more than a decade, the U.S. Supreme Court unanimously held on January 21, in Hana Financial, Inc. v. Hana Bank et al., No. 13-1211, that tacking – which is whether two trademarks are…more

Hana Financial v Hana Bank, Jury Questions, Likelihood of Confusion, SCOTUS, Tacking

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

See All Updates »

FERC Issues a NOPR Reforming Gas Day and Two Orders to Improve Natural Gas – Electric Generation Industry Coordination

On March 20, 2014, the Federal Energy Regulatory Commission (FERC) issued a Notice of Proposed Rulemaking (NOPR) and two separate, but related, Orders to improve the coordination of scheduling natural gas pipeline capacity to…more

Energy, FERC, Natural Gas, Utilities Sector

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

See All Updates »

MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

CFTC Fines Summit Energy Services, Inc. for Violating CTA Registration Rules Under the Commodity Exchange Act

On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity…more

CFTC, Civil Monetary Penalty, Commodities Exchange Act, CTA, Enforcement Actions

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U.S. District Judge in Florida Dismisses SEC Action Against Corporate Defendants and Holds that Five-Year Statute of Limitations Removed the Court’s Subject-Matter Jurisdiction

On May 12, Judge James Lawrence King of the U.S. District Court for the Southern District of Florida dismissed with prejudice the U.S. Securities and Exchange Commission’s (SEC) case against five defendants in an action alleging…more

Dismissals, SEC, Section 2462, Securities Fraud, Statute of Limitations

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Redial: 2014 TCPA Year In Review – Analysis Of Critical Issues And Trends

In this Analysis: - New TCPA Rules Take Effect for Telemarketing Calls - Just the Fax: Recent TCPA Developments on Liability for Unsolicited Faxes and Fax Opt-Out Notices - TCPA Best Practices: Consent,…more

Best Practices, Insurance Industry, Opt-Outs, Popular, Prior Express Consent

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Regulators Respond to Recent Crude by Rail Incidents: Ten Considerations Before Shipping Crude by Rail to Mitigate Exposure

Last week’s derailments in West Virginia and Canada bring more scrutiny to the already heavily scrutinized shipment of crude by rail given the real-time media coverage of the incidents. Last Friday, Oregon Senator Ron…more

Crude by Rail, Oil & Gas, Oil Spills, PHMSA, Railroads

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Legal Alert: IRS Offers Rules of the Road for Cadillac Plan Tax

On February 23, the Internal Revenue Service (IRS) issued Notice 2015-16 (Notice), which describes several possible approaches for implementing the excise tax on high-cost employer-sponsored health care plans (also known as the…more

Cadillac Tax, Employer Group Health Plans, Health Insurance, IRC, IRS

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

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FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

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S.D.N.Y. Judge Permits Novel Theory And Allows SEC To Use Unpaid Taxes As Measure Of Disgorgement In Securities Fraud Case

In a case against Dallas billionaires Sam Wyly and the estate of his late brother, Charles, Judge Shira Scheindlin of the U.S. District Court for the Southern District of New York agreed with the U.S. Securities and Exchange…more

Corporate Counsel, Disgorgement, IRS, Offshore Funds, Popular

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Are You Really Sure That Construction Began? IRS Issues Third Notice Regarding Renewable Energy Tax Credit Beginning of Construction Test

On August 8, 2014, the Internal Revenue Service (“IRS”) issued Notice 2014-46, which provides further guidance intended to assist developers and purchasers of renewable energy facilities evaluate whether such facilities…more

Construction Contracts, Construction Disputes, Investment Tax Credits, IRS, Production Tax Credit

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FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

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Braun v. Wal-Mart Stores, Inc: Opening the Door to Class Actions?

In Braun v. Wal-Mart Stores, Inc., the Pennsylvania Supreme Court upheld a $187 million jury verdict in favor of class action plaintiffs. The rationale of the ruling raises the concern that Pennsylvania state courts may become a…more

Class Action, Employer Liability Issues, Forum Shopping, Jury Verdicts, Popular

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Broker-Dealers Face Unique Challenges Under Unclaimed Property Laws, Says New SIFMA White Paper

On January 23, 2015, the Securities Industry and Financial Markets Association (SIFMA) released a new white paper outlining the unique and varied challenges broker-dealers face when complying with state unclaimed property laws…more

Broker-Dealer, Securities, SIFMA, Unclaimed Property, White Paper

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Another Software Patent is Ruled Patent-Ineligible - Are Business Method and Software Patents at Risk?

On November 14, 2014, in a much-anticipated decision following the U.S. Supreme Court’s decision in Alice v. CLS Bank, a unanimous U.S. Court of Appeals for the Federal Circuit held in Ultramercial, L.L.C. v. WildTangent, Inc…more

CLS Bank v Alice Corp, Copyrights, Covered Business Method Patents, Mayo v. Prometheus, Online Advertisements

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CFTC Fines Summit Energy Services, Inc. for Violating CTA Registration Rules Under the Commodity Exchange Act

On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity…more

CFTC, Civil Monetary Penalty, Commodities Exchange Act, CTA, Enforcement Actions

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

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U.S. Supreme Court Holds That Time Spent in Security Screenings Not Compensable Under FLSA

On December 9, 2014, the United States Supreme Court unanimously reversed a decision by the United States Court of Appeals for the Ninth Circuit holding that warehouse employees had stated a claim for unpaid wages under the Fair…more

FLSA, Integrity Staffing v Busk, SCOTUS, Security Checks, Wage and Hour

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

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Colombia Seeks Foreign Investment to Expand Timberland Plantations

Colombia plans to double its cultivated acreage from one million to two million hectares by 2020, according to Rubén Darío Lizarralde, the country’s Minister of Agriculture and Rural Development. Lizarralde announced the planned…more

Foreign Investment, Forestry, Free Trade Agreement, Income Taxes, International Tax Issues

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Florida Legislature Relaxes Agency Licensing Requirements for Broker-Dealer Branch Offices Selling Insurance Products but Creates New Disclosure Requirements for Surrenders

Under current Florida insurance laws, branch offices of broker-dealers selling insurance products in Florida are required to either “license” or “register” as agency branches (in addition to satisfying insurance producer…more

Broker-Dealer, Disclosure Requirements, Insurance Brokers, Insurers, Licensing Rules

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Texas Apartment Association Files Amicus Brief in U.S. Supreme Court Fair Housing Act Case

The U.S. Supreme Court will review a Fair Housing Act case to address whether the Act prohibits facially neutral conduct that has an unintended disparate impact on members of a protected class. In its amicus curiae brief, the…more

Affordable Housing, DHCA v Inclusive Communities Project, Discrimination, Disparate Impact, Fair Housing Act

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2014 in Review: ERISA Individual Prohibited Transaction Exemptions and Advisory Opinions

In 2014, the Department of Labor (DOL) maintained a diminished program of advance guidance under the Employment Retirement Income Security Act of 1974, as amended (ERISA), in response to requests from the regulated community…more

Affordable Care Act, DOL, EBSA, ERISA, Exemptions

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FERC Issues a NOPR Reforming Gas Day and Two Orders to Improve Natural Gas – Electric Generation Industry Coordination

On March 20, 2014, the Federal Energy Regulatory Commission (FERC) issued a Notice of Proposed Rulemaking (NOPR) and two separate, but related, Orders to improve the coordination of scheduling natural gas pipeline capacity to…more

Energy, FERC, Natural Gas, Utilities Sector

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New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity…more

Cybersecurity, Insurance Companies, Insurance Industry, NYDFS, Popular

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Legal Alert: Marvin M. Brandt Revocable Trust v. United States: Supreme Court Opens the Door to Potential Fifth Amendment Takings Litigation in Rails-to-Trails Cases

In what is commonly known as a rails-to-trails case, the U.S. Supreme Court held on March 10, 2014, in an eight-to-one decision, that certain railroad rights-of-way revert to private property owners following the railroad’s…more

Brandt Irrevocable Trust v Us, Fifth Amendment, Railways, SCOTUS, Takings

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Colombia Seeks Foreign Investment to Expand Timberland Plantations

Colombia plans to double its cultivated acreage from one million to two million hectares by 2020, according to Rubén Darío Lizarralde, the country’s Minister of Agriculture and Rural Development. Lizarralde announced the planned…more

Foreign Investment, Forestry, Free Trade Agreement, Income Taxes, International Tax Issues

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EPA and Sierra Club Reach Partial Settlement in Ozone SIP Litigation

The U.S. Environmental Protection Agency (EPA) and the Sierra Club have entered into a proposed consent decree that would partially resolve a lawsuit brought by the Sierra Club against the agency. Notice of the proposed…more

Clean Air Act, Consent Decrees, EPA, NAAQS, Settlement Negotiations

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CFTC Fines Summit Energy Services, Inc. for Violating CTA Registration Rules Under the Commodity Exchange Act

On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity…more

CFTC, Civil Monetary Penalty, Commodities Exchange Act, CTA, Enforcement Actions

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Legal Alert: Private Offerings: The SEC Lifts Ban on General Solicitation But Proposes a Hefty Regulatory Burden in Return

During an open meeting of the U.S. Securities and Exchange Commission (the SEC) on July 10, 2013, the SEC adopted a rule that lifts the ban on general solicitation of unregistered securities offerings and paves the way for…more

Advertising, Bad Actors, General Solicitation, JOBS Act, Regulation D

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Inherited IRAs Are Not Bankruptcy-Exempt as “Retirement Funds”

On June 12, 2014, the U.S. Supreme Court unanimously held in Clark v. Rameker that an inherited individual retirement account (IRA) does not qualify for the “retirement funds” exemption in the Bankruptcy Code and is not excluded…more

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Department of Energy Report Indicates Fracking Has Not Contaminated Drinking Water in Western Pennsylvania

A recent study by the Department of Energy’s National Energy Technology Laboratory (NETL) indicates that chemical-laced fluids used in hydraulic fracturing, or fracking, have not contaminated the drinking water at a test drill…more

Chemicals, Contamination, DOE, Energy, Fracking

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Fifth Circuit Limits Pollution Liability

In a significant decision issued February 24, 2014, the Fifth U.S. Circuit Court of Appeals ruled that federal laws preempt state laws in the case of the 2010 Gulf of Mexico oil spill, because the event occurred in federal…more

Discharge of Pollutants, Environmental Liability, Gulf Oil Spill, Oil & Gas

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U.S. Supreme Court Unanimously Rules That Juries Should Decide Trademark Tacking

In its first substantive trademark ruling in more than a decade, the U.S. Supreme Court unanimously held on January 21, in Hana Financial, Inc. v. Hana Bank et al., No. 13-1211, that tacking – which is whether two trademarks are…more

Hana Financial v Hana Bank, Jury Questions, Likelihood of Confusion, SCOTUS, Tacking

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Legal Alert: The 2012 Tax Litigation Year in Review: Important Events

The year 2012 was quite an interesting one for tax controversy. Whereas 2011 brought a win for the Treasury on deference issues in Mayo Foundation for Medical Ed. v. United States, 131 S. Ct. 704 (2011), 2012 was the year courts…more

Administrative Procedure Act, Dominion Resources, FICA Taxes, H&M, Hewlett-Packard

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Texas Apartment Association Files Amicus Brief in U.S. Supreme Court Fair Housing Act Case

The U.S. Supreme Court will review a Fair Housing Act case to address whether the Act prohibits facially neutral conduct that has an unintended disparate impact on members of a protected class. In its amicus curiae brief, the…more

Affordable Housing, DHCA v Inclusive Communities Project, Discrimination, Disparate Impact, Fair Housing Act

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Ten Items to Consider as FINRA’s Consolidated Supervision Rules Take Effect

On December 1, 2014, the Financial Industry Regulatory Authority’s (FINRA) Consolidated Supervision Rules will take effect. The Consolidated Supervision Rules, which were approved by the U.S. Securities and Exchange Commission…more

Consolidated Supervision Rules, FINRA, Regulatory Standards, SEC

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Legal Alert: The Tax Court Approves the Use of Predictive Coding

On September 17, the U.S. Tax Court, in Dynamo Holdings LP v. Commissioner, 143 T.C. No. 9 (Sept. 17, 2014), held that a taxpayer could use predictive coding, over the objection of the Internal Revenue Service (IRS), to identify…more

Attorney-Client Privilege, Discovery, Electronically Stored Information, Federal Rules of Civil Procedure, IRS

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

See All Updates »

MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

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What Financial Advisers and Accountants Should Know About Expanded IRS Streamlined Filing Compliance Procedures for U.S. Taxpayers with Unreported Foreign Assets and Accounts

The Internal Revenue Service (IRS) recently announced “major changes” to its offshore compliance programs, including the Streamlined Filing Compliance Procedures (Streamlined Procedures), the delinquent international information…more

Filing Requirements, Foreign Bank Accounts, IRS, Offshore Companies, Offshore Funds

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Legal Alert: A Little Rule With Big Implications: USPTO Implements New Fee Schedule Including a 75% Reduction in Patent Fees for Applicants Qualifying for "Micro Entity" Status

On March 19, 2013, the United States Patent and Trademark Office (USPTO) implemented a new fee schedule as authorized by the Leahy-Smith America Invents Act (Act). Among numerous changes in the fees for patent services provided…more

America Invents Act, Micro Entity Status, Patent Applications, Patent Fees, Patent Reform

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New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity…more

Cybersecurity, Insurance Companies, Insurance Industry, NYDFS, Popular

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NAIC 2014 Fall National Meeting and Congressional Hearing on Global Standards in Insurance Regulation

The National Association of Insurance Commissioners (NAIC) met for its Fall National Meeting in Washington, D.C. from November 14th through November 19th. As with prior meetings, competition among state, Federal and…more

Congressional Investigations & Hearings, Insurers, NAIC, Regulatory Agenda, Regulatory Standards

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Mandatory Clearing in Europe May Still Be “A Ways Off”: ESMA Responds to Proposed Amendments on Interest Rate Swaps Clearing RTS and Postpones Consideration of FX NDF Clearing

The Dodd-Frank Wall Street Reform and Consumer Protection Act’s mandatory clearing requirement for interest rate swaps and certain credit default swaps has been in place for quite some time. However, the clearing requirement for…more

Dodd-Frank, EMIR, ESMA, EU, European Securities and Markets Authority

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New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity…more

Cybersecurity, Insurance Companies, Insurance Industry, NYDFS, Popular

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De Novo Review of Claim Construction No Longer the De Facto Standard

On January 20, the U.S. Supreme Court, in Teva Pharmaceuticals USA, Inc. v. Sandoz, rejected the de novo review standard applied by the U.S. Court of Appeals for the Federal Circuit when reviewing all claim construction issues…more

Claim Construction, Clear Error Standard, De Novo Standard of Review, Intellectual Property Litigation, Patent Litigation

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New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity…more

Cybersecurity, Insurance Companies, Insurance Industry, NYDFS, Popular

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What Does It Take to Make the SEC Happy? SEC Criticism of Broker-Dealers’ Due Diligence for Sales of Unregistered Securities Leaves More Questions Than Answers

To ensure that broker-dealers (BDs) do not inadvertently facilitate an unlawful distribution of securities, the Securities and Exchange Commission has long required BDs to conduct a “reasonable inquiry” into the circumstances…more

Broker-Dealer, Due Diligence, FINRA, OCIE, SEC

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CFTC Fines Summit Energy Services, Inc. for Violating CTA Registration Rules Under the Commodity Exchange Act

On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity…more

CFTC, Civil Monetary Penalty, Commodities Exchange Act, CTA, Enforcement Actions

See All Updates »

New SEC Guidance Adds Flexibility to BDC Co-Investing

The U.S. Securities and Exchange Commission (SEC) Division of Investment Management (the Division) just published guidance that will permit business development companies (BDCs) to co-invest with certain persons considered…more

Affiliates, Business Development, Business Development Companies, Equity Investors, Investment Company Act of 1940

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Regulators Respond to Recent Crude by Rail Incidents: Ten Considerations Before Shipping Crude by Rail to Mitigate Exposure

Last week’s derailments in West Virginia and Canada bring more scrutiny to the already heavily scrutinized shipment of crude by rail given the real-time media coverage of the incidents. Last Friday, Oregon Senator Ron…more

Crude by Rail, Oil & Gas, Oil Spills, PHMSA, Railroads

See All Updates »

Broker-Dealers Face Unique Challenges Under Unclaimed Property Laws, Says New SIFMA White Paper

On January 23, 2015, the Securities Industry and Financial Markets Association (SIFMA) released a new white paper outlining the unique and varied challenges broker-dealers face when complying with state unclaimed property laws…more

Broker-Dealer, Securities, SIFMA, Unclaimed Property, White Paper

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EPA and Sierra Club Reach Partial Settlement in Ozone SIP Litigation

The U.S. Environmental Protection Agency (EPA) and the Sierra Club have entered into a proposed consent decree that would partially resolve a lawsuit brought by the Sierra Club against the agency. Notice of the proposed…more

Clean Air Act, Consent Decrees, EPA, NAAQS, Settlement Negotiations

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Broker-Dealers Face Unique Challenges Under Unclaimed Property Laws, Says New SIFMA White Paper

On January 23, 2015, the Securities Industry and Financial Markets Association (SIFMA) released a new white paper outlining the unique and varied challenges broker-dealers face when complying with state unclaimed property laws…more

Broker-Dealer, Securities, SIFMA, Unclaimed Property, White Paper

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2014 in Review: ERISA Individual Prohibited Transaction Exemptions and Advisory Opinions

In 2014, the Department of Labor (DOL) maintained a diminished program of advance guidance under the Employment Retirement Income Security Act of 1974, as amended (ERISA), in response to requests from the regulated community…more

Affordable Care Act, DOL, EBSA, ERISA, Exemptions

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U.S. Supreme Court Hears Oral Argument Over the Preclusive Effect of Administrative Trademark Determinations on Future Infringement Litigation

The U.S. Supreme Court heard oral argument last week in a much anticipated trademark matter, B&B Hardware Inc. v. Hargis Industries Inc. et al. The primary question presented was whether a likelihood-of-confusion determination…more

Administrative Hearings, B&B Hardware v Hargis Industries, Claim Preclusion, Infringement, Likelihood of Confusion

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

Redial: 2014 TCPA Year In Review – Analysis Of Critical Issues And Trends

In this Analysis: - New TCPA Rules Take Effect for Telemarketing Calls - Just the Fax: Recent TCPA Developments on Liability for Unsolicited Faxes and Fax Opt-Out Notices - TCPA Best Practices: Consent,…more

Best Practices, Insurance Industry, Opt-Outs, Popular, Prior Express Consent

See All Updates »

Legal Alert: Final Volcker Rule: Update and Key Takeaways for Insurers

On December 10, 2013, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, and the Commodity Futures Trading…more

Bank Holding Company Act, Banks, CFTC, Collateralized Debt Obligations, Dodd-Frank

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Ninth Circuit Rejects Challenge to Bonus Annuity

The U.S. Court of Appeals for the Ninth Circuit has affirmed summary judgment for the insurer in a putative RICO class action relating to a bonus indexed annuity. Rejecting the plaintiff’s claims, the court held that the insurer…more

Annuities, Class Action, Insurance Companies, Insurers, RICO

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Fifth Circuit Limits Pollution Liability

In a significant decision issued February 24, 2014, the Fifth U.S. Circuit Court of Appeals ruled that federal laws preempt state laws in the case of the 2010 Gulf of Mexico oil spill, because the event occurred in federal…more

Discharge of Pollutants, Environmental Liability, Gulf Oil Spill, Oil & Gas

See All Updates »

Texas Apartment Association Files Amicus Brief in U.S. Supreme Court Fair Housing Act Case

The U.S. Supreme Court will review a Fair Housing Act case to address whether the Act prohibits facially neutral conduct that has an unintended disparate impact on members of a protected class. In its amicus curiae brief, the…more

Affordable Housing, DHCA v Inclusive Communities Project, Discrimination, Disparate Impact, Fair Housing Act

See All Updates »

Securities Class Action Defendants Can Rebut the Basic Fraud-on-the-Market Presumption of Reliance at the Class Certification Stage

The U.S. Supreme Court held yesterday that defendants in securities fraud class actions can defeat the Basic fraud-on-the-market presumption of reliance at the class certification stage “through evidence that the…more

Basic v Levinson, Class Action, Class Certification, Fraud, Fraud-on-the-Market

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You Can’t Judge a Book By Its Cover: When Are Domestic Negotiations a “Sale” or “Offer to Sell”?

In Halo Electronics, Inc. v. Pulse Electronics, Inc., 2013-1472, - 1656 (October 22, 2014), the Federal Circuit concluded that there was no direct infringement when substantial activities of a sales transaction – including the…more

Contract Disputes, Direct Infringement, Electronics, Extraterritoriality Rules, Patent Infringement

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FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

See All Updates »

Mandatory Clearing in Europe May Still Be “A Ways Off”: ESMA Responds to Proposed Amendments on Interest Rate Swaps Clearing RTS and Postpones Consideration of FX NDF Clearing

The Dodd-Frank Wall Street Reform and Consumer Protection Act’s mandatory clearing requirement for interest rate swaps and certain credit default swaps has been in place for quite some time. However, the clearing requirement for…more

Dodd-Frank, EMIR, ESMA, EU, European Securities and Markets Authority

See All Updates »

NAIC 2014 Fall National Meeting and Congressional Hearing on Global Standards in Insurance Regulation

The National Association of Insurance Commissioners (NAIC) met for its Fall National Meeting in Washington, D.C. from November 14th through November 19th. As with prior meetings, competition among state, Federal and…more

Congressional Investigations & Hearings, Insurers, NAIC, Regulatory Agenda, Regulatory Standards

See All Updates »

Obama Issues Executive Order and Presidential Memorandum Concerning Equal Pay Initiatives for Federal Contractors

Yesterday, President Obama issued an Executive Order and Presidential Memorandum intended to address equal pay for women. The Executive Order prohibits federal contractors from retaliating against an applicant or employee who…more

Equal Pay, Executive Orders, Federal Contractors, OFCCP, Retaliation

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FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

See All Updates »

MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

New SEC Guidance Adds Flexibility to BDC Co-Investing

The U.S. Securities and Exchange Commission (SEC) Division of Investment Management (the Division) just published guidance that will permit business development companies (BDCs) to co-invest with certain persons considered…more

Affiliates, Business Development, Business Development Companies, Equity Investors, Investment Company Act of 1940

See All Updates »

Ten Items to Consider as FINRA’s Consolidated Supervision Rules Take Effect

On December 1, 2014, the Financial Industry Regulatory Authority’s (FINRA) Consolidated Supervision Rules will take effect. The Consolidated Supervision Rules, which were approved by the U.S. Securities and Exchange Commission…more

Consolidated Supervision Rules, FINRA, Regulatory Standards, SEC

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President Signs Changes to Collins Amendment Favorable to Insurers

On December 18, President Obama signed into law the Insurance Capital Standards Clarification Act of 2014 (the Act). The Act makes it clear that the Board of Governors of the Federal Reserve (the Fed) is not required to apply…more

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FIO Report Sets the Agenda for Discourse on the Future of Insurance Regulation

On December 12, 2013, the Federal Insurance Office (FIO) of the U.S. Department of the Treasury released its much anticipated study, How to Modernize and Improve the System of Insurance Regulation in the United States (Report). …more

Dodd-Frank, Federal Insurance Office, Insurance Companies, Insurance Reform, Insurers

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

Legal Alert: CFPB Proposes to Examine and Directly Supervise Nonbank Auto Lenders

On September 17, the Consumer Financial Protection Bureau (CFPB) proposed to make nonbank automobile lenders subject to the examination and direct supervision of the Bureau. The proposed rule can be found here. Under the…more

Automotive Industry, Automotive Loans, CFPB, Larger Participant, Nonbank Firms

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2014 in Review: ERISA Individual Prohibited Transaction Exemptions and Advisory Opinions

In 2014, the Department of Labor (DOL) maintained a diminished program of advance guidance under the Employment Retirement Income Security Act of 1974, as amended (ERISA), in response to requests from the regulated community…more

Affordable Care Act, DOL, EBSA, ERISA, Exemptions

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No SLUSA Protection Absent Material Connection With Sale/Purchase of Covered Security

In Chadbourne & Parke LLP v. Troice, the U.S. Supreme Court held on February 26, 2014, that the victims of Allen Stanford’s multibillion-dollar Ponzi scheme can proceed with their claims against law firms, insurance brokers, and…more

Banks, Chadbourne & Parke LLP v Troice, Fraud, Ponzi Scheme, SCOTUS

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Regulators Respond to Recent Crude by Rail Incidents: Ten Considerations Before Shipping Crude by Rail to Mitigate Exposure

Last week’s derailments in West Virginia and Canada bring more scrutiny to the already heavily scrutinized shipment of crude by rail given the real-time media coverage of the incidents. Last Friday, Oregon Senator Ron…more

Crude by Rail, Oil & Gas, Oil Spills, PHMSA, Railroads

See All Updates »

Supreme Court Holds Dismissal of Individual Case in MDL Proceedings Is Immediately Appealable

The U.S. Supreme Court unanimously held yesterday in Gelboim v. Bank of America Corp., No. 13-1174, that an order disposing of an individual case previously consolidated with other cases for multidistrict litigation (MDL)…more

Antitrust Litigation, Appeals, Banks, Gelboim v Bank of America, Multidistrict Litigation

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CFTC Fines Summit Energy Services, Inc. for Violating CTA Registration Rules Under the Commodity Exchange Act

On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity…more

CFTC, Civil Monetary Penalty, Commodities Exchange Act, CTA, Enforcement Actions

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IRS Issues Favorable Private Letter Ruling to Data Center REIT

On June 6, 2014, the Internal Revenue Service (IRS) released Private Letter Ruling 201423011 (the PLR), confirming that income from certain data center services can constitute “rents from real property” for purposes of the real…more

Data Centers, IRS, Private Letter Rulings, REIT

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FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

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Clock Is Ticking…Relief for Late Filed GRAs Expected to Expire Soon

Time may be running out for taxpayers to correct technically deficient gain recognition agreements (GRAs) under the relief procedure contained in the Directive on Examination Action With Respect to Certain Gain Recognition…more

Gain Recognition Agreements, IRS, Tax Returns, Taxpayer Relief Provisions

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FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

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NAIC 2014 Fall National Meeting and Congressional Hearing on Global Standards in Insurance Regulation

The National Association of Insurance Commissioners (NAIC) met for its Fall National Meeting in Washington, D.C. from November 14th through November 19th. As with prior meetings, competition among state, Federal and…more

Congressional Investigations & Hearings, Insurers, NAIC, Regulatory Agenda, Regulatory Standards

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Georgia PSC Issues Initial Decision in “Reconstruction in Substantial Kind” Case

On September 17, 2014, a hearing officer for the Georgia Public Service Commission (PSC) issued an initial decision in a “reconstruction in substantial kind” case under Georgia’s Territorial Act, O.C.G.A. § 46-3-1 et…more

Electricity, Manufacturers, Manufacturing Facilities

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Counterparty Rights in Energy Bankruptcies

For the past several years, low interest rates and higher commodity prices have resulted in generally favorable financial conditions in the energy sector, keeping energy bankruptcy activity to a minimum. With the recent sharp…more

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The Court Mows Down Yard-Man - The Supreme Court Rejects Claim for Lifetime Retiree Benefits

The Supreme Court, in M&G Polymers USA, LLC v. Tackett, held that courts cannot infer an employer’s intent to vest welfare benefits from ambiguous or silent collective bargaining agreements, but instead courts must use ordinary…more

Collective Bargaining, Employer Group Health Plans, Health and Welfare Plans, SCOTUS, Vested Benefits

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New Patent Eligibility Guidance: USPTO Tones Down the Rhetoric

On December 15, 2014, the U.S. Patent and Trademark Office issued its long-awaited Interim Guidance on Patent Subject Matter Eligibility (published in the Federal Register on December 16). The Guidance supersedes the guidelines…more

AMP v Myriad, CLS Bank v Alice Corp, Guidance Update, Mayo v. Prometheus, Patent-Eligible Subject Matter

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U.S. Supreme Court Hears Oral Argument Over the Preclusive Effect of Administrative Trademark Determinations on Future Infringement Litigation

The U.S. Supreme Court heard oral argument last week in a much anticipated trademark matter, B&B Hardware Inc. v. Hargis Industries Inc. et al. The primary question presented was whether a likelihood-of-confusion determination…more

Administrative Hearings, B&B Hardware v Hargis Industries, Claim Preclusion, Infringement, Likelihood of Confusion

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Virtual Reality: IRS Provides Guidance on the Treatment of Bitcoin and Other Virtual Currency Transactions

On March 25, 2014, the Internal Revenue Service (IRS) issued Notice 2014-21 (the Notice), which provides guidance regarding the tax treatment of Bitcoins and other virtual currency through a series of “frequently asked…more

Bitcoins, FBAR, Income Taxes, Investment Funds, IRS

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IRS Announces $281 Million Available Under New CREBs Program

On February 3, the Internal Revenue Service (IRS) released Notice 2015-12 (the Notice) which solicited applications for a third round of allocations of volume cap for new clean renewable energy bonds (New CREBs) under Section…more

Bonds, CREBs, Energy Sector, IRC, IRS

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Asbestos MDL Court Concludes Punitive Damages for Unseaworthiness Allowed for Seaman But Not for a Seaman’s Personal Representative in Wrongful Death or Survival Actions

In a consolidated asbestos products liability multidistrict litigation (MDL), the U.S. District Court for the Eastern District of Pennsylvania held in In re Asbestos Products Liability Litigation (No. VI), MDL 875, that punitive…more

Asbestos, Asbestos Litigation, Mesothelioma, Multidistrict Litigation

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2014 in Review: ERISA Individual Prohibited Transaction Exemptions and Advisory Opinions

In 2014, the Department of Labor (DOL) maintained a diminished program of advance guidance under the Employment Retirement Income Security Act of 1974, as amended (ERISA), in response to requests from the regulated community…more

Affordable Care Act, DOL, EBSA, ERISA, Exemptions

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New SEC Guidance Adds Flexibility to BDC Co-Investing

The U.S. Securities and Exchange Commission (SEC) Division of Investment Management (the Division) just published guidance that will permit business development companies (BDCs) to co-invest with certain persons considered…more

Affiliates, Business Development, Business Development Companies, Equity Investors, Investment Company Act of 1940

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Georgia PSC Issues Initial Decision in “Reconstruction in Substantial Kind” Case

On September 17, 2014, a hearing officer for the Georgia Public Service Commission (PSC) issued an initial decision in a “reconstruction in substantial kind” case under Georgia’s Territorial Act, O.C.G.A. § 46-3-1 et…more

Electricity, Manufacturers, Manufacturing Facilities

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Supreme Court Holds Dismissal of Individual Case in MDL Proceedings Is Immediately Appealable

The U.S. Supreme Court unanimously held yesterday in Gelboim v. Bank of America Corp., No. 13-1174, that an order disposing of an individual case previously consolidated with other cases for multidistrict litigation (MDL)…more

Antitrust Litigation, Appeals, Banks, Gelboim v Bank of America, Multidistrict Litigation

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

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New SEC Guidance Adds Flexibility to BDC Co-Investing

The U.S. Securities and Exchange Commission (SEC) Division of Investment Management (the Division) just published guidance that will permit business development companies (BDCs) to co-invest with certain persons considered…more

Affiliates, Business Development, Business Development Companies, Equity Investors, Investment Company Act of 1940

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U.S. Supreme Court Unanimously Rules That Juries Should Decide Trademark Tacking

In its first substantive trademark ruling in more than a decade, the U.S. Supreme Court unanimously held on January 21, in Hana Financial, Inc. v. Hana Bank et al., No. 13-1211, that tacking – which is whether two trademarks are…more

Hana Financial v Hana Bank, Jury Questions, Likelihood of Confusion, SCOTUS, Tacking

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Public-Private Partnership Bill Passes Georgia Senate to Pave Way for Widespread P3 in Georgia

Georgia may soon join the growing ranks of states with broad enabling legislation for all forms of public-private partnerships (or P3). Senate Bill 255 (2013) passed the Georgia State Senate on Monday, February 24, 2014, by a…more

Infrastructure, P3s, Public-Private Partnerships

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FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

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Clock Is Ticking…Relief for Late Filed GRAs Expected to Expire Soon

Time may be running out for taxpayers to correct technically deficient gain recognition agreements (GRAs) under the relief procedure contained in the Directive on Examination Action With Respect to Certain Gain Recognition…more

Gain Recognition Agreements, IRS, Tax Returns, Taxpayer Relief Provisions

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Legal Alert: Largest SEC Whistleblower Award Could Have Been Larger

On September 22, 2014, the U.S. Securities and Exchange Commission announced the largest-ever whistleblower award, more than double last year’s record-breaking award. According to the Order, the award, which will likely exceed…more

Dodd-Frank, Extraterritoriality Rules, Foreign Nationals, SEC, Whistleblower Awards

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FINRA Provides New Carve-Out Provisions to Include in Settlement and Confidentiality Agreements

Financial Industry Regulatory Authority (FINRA) Member Firms have new language to include in their settlement and confidentiality agreements. On October 9, FINRA released Regulatory Notice (RN) 14-40, warning that firms are…more

Arbitration Agreements, Carve Out Provisions, Confidentiality Agreements, FINRA, Settlement

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Legal Alert: CFPB Warns Credit Card Companies About Potential UDAAP Violations When Marketing Promotional Interest Rates

The Consumer Financial Protection Bureau (CFPB) issued a bulletin on September 3, 2014 warning credit card companies that marketing materials for promotional annual percentage rate (APR) offers may be in violation of the unfair,…more

Advertising, Banking Sector, Banks, CFPB, Credit Cards

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

IRS Issues Favorable Private Letter Ruling to Data Center REIT

On June 6, 2014, the Internal Revenue Service (IRS) released Private Letter Ruling 201423011 (the PLR), confirming that income from certain data center services can constitute “rents from real property” for purposes of the real…more

Data Centers, IRS, Private Letter Rulings, REIT

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Legal Alert: SEC and PCAOB Address Independence Requirements in Audits Related to Broker-Dealers’ Financial Statements

Confirming that auditor independence continues to be a regulatory priority, the Securities and Exchange Commission (SEC or Commission) and the Public Company Accounting Oversight Board (PCAOB) issued orders on December 8,…more

Auditors, Audits, Broken Gates, Broker-Dealer, Financial Statements

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

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New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity…more

Cybersecurity, Insurance Companies, Insurance Industry, NYDFS, Popular

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Mandatory Clearing in Europe May Still Be “A Ways Off”: ESMA Responds to Proposed Amendments on Interest Rate Swaps Clearing RTS and Postpones Consideration of FX NDF Clearing

The Dodd-Frank Wall Street Reform and Consumer Protection Act’s mandatory clearing requirement for interest rate swaps and certain credit default swaps has been in place for quite some time. However, the clearing requirement for…more

Dodd-Frank, EMIR, ESMA, EU, European Securities and Markets Authority

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U.S. Court of Appeals Rules in Favor of Durbin Amendment Rules

On March 21, 2014, in NACS, et. al. v. Board of Governors of the Federal Reserve System, the U.S. Court of Appeals for the District of Columbia Circuit ruled in favor of the Federal Reserve’s interpretation of the Durbin…more

Debit and Credit Card Transactions, Durbin Amendment Rules, Federal Reserve

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

See All Updates »

Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

See All Updates »

Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

See All Updates »

FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

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Fifth Circuit Limits Pollution Liability

In a significant decision issued February 24, 2014, the Fifth U.S. Circuit Court of Appeals ruled that federal laws preempt state laws in the case of the 2010 Gulf of Mexico oil spill, because the event occurred in federal…more

Discharge of Pollutants, Environmental Liability, Gulf Oil Spill, Oil & Gas

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IRS Issues Favorable Private Letter Ruling to Data Center REIT

On June 6, 2014, the Internal Revenue Service (IRS) released Private Letter Ruling 201423011 (the PLR), confirming that income from certain data center services can constitute “rents from real property” for purposes of the real…more

Data Centers, IRS, Private Letter Rulings, REIT

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Legal Alert: EPA Issues Amendments to the Renewable Fuel Standard to Address RIN Fraud

Earlier today and in the wake of the fraudulent renewable fuel credit (known as “RINs”) scandal that has shaken both the renewable fuel and petroleum industries, the Environmental Protection Agency (EPA) released a number of…more

EPA, Renewable Energy, Renewable Fuel Standard, RIN

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Changes to the Recordation Tax in Maryland for Refinancing Commercial Mortgage Loans: Recordation Tax Imposed Only on New Money

Maryland Governor Martin O’Malley signed into law an act providing relief to commercial borrowers that wish to refinance or modify loans originally secured by indemnity deeds of trust. This new law, effective July 1, 2013,…more

Deed of Trust, Indemnity Deed of Trust, Loan Modifications, Mortgages, New Legislation

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New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity…more

Cybersecurity, Insurance Companies, Insurance Industry, NYDFS, Popular

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

See All Updates »

New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity…more

Cybersecurity, Insurance Companies, Insurance Industry, NYDFS, Popular

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Ethical Issues Implicated by Lawyers’ Use of Third-Party Cloud Services

Law firms increasingly turn to “cloud services” for processing and storing confidential client information because of their greater flexibility and efficiency. Use of “the cloud,” however, outsources the administration, physical…more

Attorney-Client Privilege, Cloud Computing, Cloud-Based Services, Confidential Information, Cybersecurity

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Congress Authorizes New Ukraine-Related Sanctions Against Russia

On December 18th, President Obama signed into law the “Ukraine Freedom Support Act of 2014,” authorizing stricter sanctions against Russia, and also increasing military and non-military assistance for Ukraine. Although the new…more

Banking Sector, Barack Obama, Defense Sector, Energy Sector, Oil & Gas

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Supreme Court Simplifies Removal from State Courts

Yesterday, the Supreme Court relieved decades of uncertainty concerning the filing requirements for removal of cases to federal court from state court by holding that a defendant is required only to file “a short and plain…more

CAFA, Class Action, Dart Cherokee Basin Operating Co. v. Owens, Federal Jurisdiction, Notice Requirements

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The SEC Tackles Technicality

Within several months of Securities and Exchange Commission Chair Mary Jo White’s announcement in late 2013 of a commitment to improving the SEC’s trial readiness, the Commission suffered a number of losses in federal district…more

ALJ, Corporate Counsel, Enforcement Actions, Forum, Mary Jo White

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Legal Alert: The Tax Court Approves the Use of Predictive Coding

On September 17, the U.S. Tax Court, in Dynamo Holdings LP v. Commissioner, 143 T.C. No. 9 (Sept. 17, 2014), held that a taxpayer could use predictive coding, over the objection of the Internal Revenue Service (IRS), to identify…more

Attorney-Client Privilege, Discovery, Electronically Stored Information, Federal Rules of Civil Procedure, IRS

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FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

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FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

See All Updates »

Counterparty Rights in Energy Bankruptcies

For the past several years, low interest rates and higher commodity prices have resulted in generally favorable financial conditions in the energy sector, keeping energy bankruptcy activity to a minimum. With the recent sharp…more

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Legal Alert: IRS Offers Rules of the Road for Cadillac Plan Tax

On February 23, the Internal Revenue Service (IRS) issued Notice 2015-16 (Notice), which describes several possible approaches for implementing the excise tax on high-cost employer-sponsored health care plans (also known as the…more

Cadillac Tax, Employer Group Health Plans, Health Insurance, IRC, IRS

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EPA and Sierra Club Reach Partial Settlement in Ozone SIP Litigation

The U.S. Environmental Protection Agency (EPA) and the Sierra Club have entered into a proposed consent decree that would partially resolve a lawsuit brought by the Sierra Club against the agency. Notice of the proposed…more

Clean Air Act, Consent Decrees, EPA, NAAQS, Settlement Negotiations

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Are You Really Sure That Construction Began? IRS Issues Third Notice Regarding Renewable Energy Tax Credit Beginning of Construction Test

On August 8, 2014, the Internal Revenue Service (“IRS”) issued Notice 2014-46, which provides further guidance intended to assist developers and purchasers of renewable energy facilities evaluate whether such facilities…more

Construction Contracts, Construction Disputes, Investment Tax Credits, IRS, Production Tax Credit

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CFTC Fines Summit Energy Services, Inc. for Violating CTA Registration Rules Under the Commodity Exchange Act

On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity…more

CFTC, Civil Monetary Penalty, Commodities Exchange Act, CTA, Enforcement Actions

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Congress Scrutinizes Hedge Funds’ Use of Financial Derivatives

This week the Senate Permanent Subcommittee on Investigations, Committee on Homeland Security and Governmental Affairs (Subcommittee), in conjunction with the Subcommittee’s hearing on July 22, 2014, released a report on hedge…more

Derivatives, Financial Regulatory Reform, Fraud and Abuse, Hedge Funds, IRS

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New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity…more

Cybersecurity, Insurance Companies, Insurance Industry, NYDFS, Popular

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Inherited IRAs Are Not Bankruptcy-Exempt as “Retirement Funds”

On June 12, 2014, the U.S. Supreme Court unanimously held in Clark v. Rameker that an inherited individual retirement account (IRA) does not qualify for the “retirement funds” exemption in the Bankruptcy Code and is not excluded…more

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

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New York State ALJ Determines Travel Reservation Facilitation Receipts and Online Advertising Receipts Constitute Service Receipts That Must Be Sourced Where Performed For Income Tax Purposes

There has been significant controversy in New York regarding whether receipts from services—particularly those that may be delivered via the Internet—constitute “service” receipts or “other business receipts” for corporate…more

Corporate Taxes, eCommerce, Internet, State Taxes

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Mandatory Clearing in Europe May Still Be “A Ways Off”: ESMA Responds to Proposed Amendments on Interest Rate Swaps Clearing RTS and Postpones Consideration of FX NDF Clearing

The Dodd-Frank Wall Street Reform and Consumer Protection Act’s mandatory clearing requirement for interest rate swaps and certain credit default swaps has been in place for quite some time. However, the clearing requirement for…more

Dodd-Frank, EMIR, ESMA, EU, European Securities and Markets Authority

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IRS Announces $281 Million Available Under New CREBs Program

On February 3, the Internal Revenue Service (IRS) released Notice 2015-12 (the Notice) which solicited applications for a third round of allocations of volume cap for new clean renewable energy bonds (New CREBs) under Section…more

Bonds, CREBs, Energy Sector, IRC, IRS

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New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity…more

Cybersecurity, Insurance Companies, Insurance Industry, NYDFS, Popular

See All Updates »

FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

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Ten Items to Consider as FINRA’s Consolidated Supervision Rules Take Effect

On December 1, 2014, the Financial Industry Regulatory Authority’s (FINRA) Consolidated Supervision Rules will take effect. The Consolidated Supervision Rules, which were approved by the U.S. Securities and Exchange Commission…more

Consolidated Supervision Rules, FINRA, Regulatory Standards, SEC

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U.S. Supreme Court Unanimously Rules That Juries Should Decide Trademark Tacking

In its first substantive trademark ruling in more than a decade, the U.S. Supreme Court unanimously held on January 21, in Hana Financial, Inc. v. Hana Bank et al., No. 13-1211, that tacking – which is whether two trademarks are…more

Hana Financial v Hana Bank, Jury Questions, Likelihood of Confusion, SCOTUS, Tacking

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Life Insurance Unclaimed Property Recommendations of the Uniform Law Commission Working Group

The Uniform Law Commission (ULC) Life Insurance Working Group (Working Group) has released its recommendations to revise the life insurance provisions of the Uniform Unclaimed Property Act of 1995 (1995 Uniform Act or Uniform…more

Insurance Industry, Life Insurance, Unclaimed Life Insurance Benefits Act, Unclaimed Property

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FERC Issues Proposed Policy Statement on Cost Recovery Mechanisms for Modernization of Natural Gas Facilities

On November 20, the Federal Energy Regulatory Commission (Commission) issued a Proposed Policy Statement on cost recovery mechanisms, such as trackers or surcharges, that pipelines may use to recoup infrastructure modernization…more

EPA, FERC, Natural Gas, Oil & Gas, PHMSA

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Legal Alert: Final Volcker Rule: Update and Key Takeaways for Private Funds

On December 10, 2013, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission, and the Commodity Futures…more

Antitrust Provisions, Bank Holding Company Act, Banks, CFTC, Collateralized Debt Obligations

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Texas Apartment Association Files Amicus Brief in U.S. Supreme Court Fair Housing Act Case

The U.S. Supreme Court will review a Fair Housing Act case to address whether the Act prohibits facially neutral conduct that has an unintended disparate impact on members of a protected class. In its amicus curiae brief, the…more

Affordable Housing, DHCA v Inclusive Communities Project, Discrimination, Disparate Impact, Fair Housing Act

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IRS Declares 2014 and 2015 as a Transition Period for FATCA Administration and Enforcement and Provides an Additional Six Months of Relief for Certain Preexisting Obligations

Pursuant to Notice 2014-33 (the Notice), the IRS announced that it will treat calendar years 2014 and 2015 as a transition period for the administration and enforcement of the due diligence, reporting, and withholding provisions…more

Due Diligence, Enforcement, Extensions, FATCA, FFI

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More Regulatory Stability and Incentives for Biogas and Biomass Projects

Last month, the U.S. Environmental Protection Agency (EPA) announced a host of new incentives to encourage the use of fuels derived from biomass—including biogas that replaces traditional natural gas in the form of compressed…more

Biofuel, Biomass, Clean Air Act, Clean Power Plan, Energy Tax Incentives

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CFTC Fines Summit Energy Services, Inc. for Violating CTA Registration Rules Under the Commodity Exchange Act

On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity…more

CFTC, Civil Monetary Penalty, Commodities Exchange Act, CTA, Enforcement Actions

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

See All Updates »

FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

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Redial: 2014 TCPA Year In Review – Analysis Of Critical Issues And Trends

In this Analysis: - New TCPA Rules Take Effect for Telemarketing Calls - Just the Fax: Recent TCPA Developments on Liability for Unsolicited Faxes and Fax Opt-Out Notices - TCPA Best Practices: Consent,…more

Best Practices, Insurance Industry, Opt-Outs, Popular, Prior Express Consent

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SEC Releases Results of 2014 Cybersecurity Exam Sweep

On February 3, the Securities and Exchange Commission (SEC) issued a Risk Alert prepared by its Office of Compliance Inspections and Examinations (OCIE) that summarizes the results of a sweep of more than 100 broker-dealers and…more

Broker-Dealer, Cybersecurity, Investment Adviser, OCIE, Risk Alert

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EPA’s New Final Rule on Logging Roads: Not So Final?

On November 30, 2012, the Environmental Protection Agency (EPA) issued its final rule revising the Phase I stormwater regulations under the Clean Water Act to clarify that stormwater discharges from logging roads do not…more

Clean Water Act, EPA, NPDES, Storm Water

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Life Insurance Unclaimed Property Recommendations of the Uniform Law Commission Working Group

The Uniform Law Commission (ULC) Life Insurance Working Group (Working Group) has released its recommendations to revise the life insurance provisions of the Uniform Unclaimed Property Act of 1995 (1995 Uniform Act or Uniform…more

Insurance Industry, Life Insurance, Unclaimed Life Insurance Benefits Act, Unclaimed Property

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

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Legal Alert: Alice v. CLS Bank: U.S. Supreme Court Revisits Subject Matter Eligibility Under 35 U.S.C. § 101

On June 19, the Supreme Court issued a decision in Alice Corporation. Pty. Ltd. v. CLS Bank International. et al., a high-profile patent case involving the scope of patent eligibility under 35 U.S.C. § 101. In a unanimous…more

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Legal Alert: Holder of Deed Need Not Be Holder of Note to Foreclose, Georgia Supreme Court Rules

The Georgia Supreme Court held this week that the holder of a security deed need not also hold the underlying note to exercise the power of sale in accordance with the terms of the security deed. You v. JP Morgan Chase Bank,…more

Deeds, Foreclosure, Land Titles, Mortgages, Promissory Notes

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

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Legal Alert: CFTC Adopts Streamlined Approach for Delegation of CPO Registration

On May 12, 2014, the Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) issued a staff letter (the Staff Letter) that provides a streamlined approach for commodity pool…more

CFTC, Commodity Pool, Compliance, CPO, DSIO

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Another Software Patent is Ruled Patent-Ineligible - Are Business Method and Software Patents at Risk?

On November 14, 2014, in a much-anticipated decision following the U.S. Supreme Court’s decision in Alice v. CLS Bank, a unanimous U.S. Court of Appeals for the Federal Circuit held in Ultramercial, L.L.C. v. WildTangent, Inc…more

CLS Bank v Alice Corp, Copyrights, Covered Business Method Patents, Mayo v. Prometheus, Online Advertisements

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Legal Alert: Final Volcker Rule: Update and Key Takeaways for Private Funds

On December 10, 2013, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission, and the Commodity Futures…more

Antitrust Provisions, Bank Holding Company Act, Banks, CFTC, Collateralized Debt Obligations

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FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

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New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity…more

Cybersecurity, Insurance Companies, Insurance Industry, NYDFS, Popular

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Legal Alert: SEC and PCAOB Address Independence Requirements in Audits Related to Broker-Dealers’ Financial Statements

Confirming that auditor independence continues to be a regulatory priority, the Securities and Exchange Commission (SEC or Commission) and the Public Company Accounting Oversight Board (PCAOB) issued orders on December 8,…more

Auditors, Audits, Broken Gates, Broker-Dealer, Financial Statements

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U.S. Supreme Court Unanimously Rules That Juries Should Decide Trademark Tacking

In its first substantive trademark ruling in more than a decade, the U.S. Supreme Court unanimously held on January 21, in Hana Financial, Inc. v. Hana Bank et al., No. 13-1211, that tacking – which is whether two trademarks are…more

Hana Financial v Hana Bank, Jury Questions, Likelihood of Confusion, SCOTUS, Tacking

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Are You Really Sure That Construction Began? IRS Issues Third Notice Regarding Renewable Energy Tax Credit Beginning of Construction Test

On August 8, 2014, the Internal Revenue Service (“IRS”) issued Notice 2014-46, which provides further guidance intended to assist developers and purchasers of renewable energy facilities evaluate whether such facilities…more

Construction Contracts, Construction Disputes, Investment Tax Credits, IRS, Production Tax Credit

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De Novo Review of Claim Construction No Longer the De Facto Standard

On January 20, the U.S. Supreme Court, in Teva Pharmaceuticals USA, Inc. v. Sandoz, rejected the de novo review standard applied by the U.S. Court of Appeals for the Federal Circuit when reviewing all claim construction issues…more

Claim Construction, Clear Error Standard, De Novo Standard of Review, Intellectual Property Litigation, Patent Litigation

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SEC’s Examination Program Issues a Risk Alert on Investment Adviser Due Diligence Processes

On January 28, 2014, the U.S. Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert entitled: Investment Adviser Due Diligence Processes for Selecting Alternative…more

Compliance, Due Diligence, Enforcement, Investigations, OCIE

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Legal Alert: IRS Offers Rules of the Road for Cadillac Plan Tax

On February 23, the Internal Revenue Service (IRS) issued Notice 2015-16 (Notice), which describes several possible approaches for implementing the excise tax on high-cost employer-sponsored health care plans (also known as the…more

Cadillac Tax, Employer Group Health Plans, Health Insurance, IRC, IRS

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U.S. Supreme Court Holds That Time Spent in Security Screenings Not Compensable Under FLSA

On December 9, 2014, the United States Supreme Court unanimously reversed a decision by the United States Court of Appeals for the Ninth Circuit holding that warehouse employees had stated a claim for unpaid wages under the Fair…more

FLSA, Integrity Staffing v Busk, SCOTUS, Security Checks, Wage and Hour

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Redial: 2014 TCPA Year In Review – Analysis Of Critical Issues And Trends

In this Analysis: - New TCPA Rules Take Effect for Telemarketing Calls - Just the Fax: Recent TCPA Developments on Liability for Unsolicited Faxes and Fax Opt-Out Notices - TCPA Best Practices: Consent,…more

Best Practices, Insurance Industry, Opt-Outs, Popular, Prior Express Consent

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De Novo Review of Claim Construction No Longer the De Facto Standard

On January 20, the U.S. Supreme Court, in Teva Pharmaceuticals USA, Inc. v. Sandoz, rejected the de novo review standard applied by the U.S. Court of Appeals for the Federal Circuit when reviewing all claim construction issues…more

Claim Construction, Clear Error Standard, De Novo Standard of Review, Intellectual Property Litigation, Patent Litigation

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Public-Private Partnership Bill Passes Georgia Senate to Pave Way for Widespread P3 in Georgia

Georgia may soon join the growing ranks of states with broad enabling legislation for all forms of public-private partnerships (or P3). Senate Bill 255 (2013) passed the Georgia State Senate on Monday, February 24, 2014, by a…more

Infrastructure, P3s, Public-Private Partnerships

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Legal Alert: Largest SEC Whistleblower Award Could Have Been Larger

On September 22, 2014, the U.S. Securities and Exchange Commission announced the largest-ever whistleblower award, more than double last year’s record-breaking award. According to the Order, the award, which will likely exceed…more

Dodd-Frank, Extraterritoriality Rules, Foreign Nationals, SEC, Whistleblower Awards

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EPA and Sierra Club Reach Partial Settlement in Ozone SIP Litigation

The U.S. Environmental Protection Agency (EPA) and the Sierra Club have entered into a proposed consent decree that would partially resolve a lawsuit brought by the Sierra Club against the agency. Notice of the proposed…more

Clean Air Act, Consent Decrees, EPA, NAAQS, Settlement Negotiations

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Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending…more

Chapter 11, Commercial Bankruptcy, Commercial Loans, General Motors, Intent

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MTC Launches Transfer Pricing Effort

On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States…more

Audits, Multistate Tax Compact, Transfer Pricing

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Life Insurance Unclaimed Property Recommendations of the Uniform Law Commission Working Group

The Uniform Law Commission (ULC) Life Insurance Working Group (Working Group) has released its recommendations to revise the life insurance provisions of the Uniform Unclaimed Property Act of 1995 (1995 Uniform Act or Uniform…more

Insurance Industry, Life Insurance, Unclaimed Life Insurance Benefits Act, Unclaimed Property

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Legal Alert: EPA Sends Rule Amending Renewable Fuel Biogas Provisions to the White House for Final Review

The Environmental Protection Agency (EPA) has sent amendments to the Renewable Fuel Standard (RFS) to the White House’s Office of Management and Budget (OMB) that would further incorporate the use of biogas into the RFS. OMB…more

EPA, OMB, Proposed Regulation, Renewable Fuel Standard

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FY 2016 Budget Tax Proposals Target Insurance Companies

On February 2, the Obama Administration released its fiscal year 2016 budget (FY 2016 Budget). The hallmarks of the FY 2016 Budget are proposals that would impose (i) a minimum tax on the current foreign earnings of U.S…more

Barack Obama, Controlled Foreign Corporations, Corporate Taxes, FATCA, Federal Budget

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Legal Alert: Final Rules on Compensation Deduction Limit for Health Insurers

The Internal Revenue Service (IRS) and the Department of Treasury (Treasury) have issued final regulations under section 162(m)(6) of the Internal Revenue Code of 1986, as amended (Code), which limit the deduction certain health…more

Compensation & Benefits, Healthcare, Independent Contractors, IRS, U.S. Treasury

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Redial: 2014 TCPA Year In Review – Analysis Of Critical Issues And Trends

In this Analysis: - New TCPA Rules Take Effect for Telemarketing Calls - Just the Fax: Recent TCPA Developments on Liability for Unsolicited Faxes and Fax Opt-Out Notices - TCPA Best Practices: Consent,…more

Best Practices, Insurance Industry, Opt-Outs, Popular, Prior Express Consent

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New Jersey Creates More Difficult Independent Contractor Test for State Wage Law Purposes

On Wednesday, the Supreme Court of New Jersey articulated the test to be used in determining whether a worker is an independent contractor or employee for purposes of the state’s Wage Payment Law and Wage and Hour Law. Any…more

Employee Definition, Employer Liability Issues, FLSA, Independent Contractors, Wage and Hour

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U.S. Court of Appeals Rules in Favor of Durbin Amendment Rules

On March 21, 2014, in NACS, et. al. v. Board of Governors of the Federal Reserve System, the U.S. Court of Appeals for the District of Columbia Circuit ruled in favor of the Federal Reserve’s interpretation of the Durbin…more

Debit and Credit Card Transactions, Durbin Amendment Rules, Federal Reserve

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Areas of Practice
  • Alternative Dispute Resolution (ADR)
  • Antitrust & Trade Regulation
  • Appellate Practice
  • Bankruptcy
  • Business Organizations
  • Business Torts
  • Class Action
  • Commercial Law & Contracts
  • Communications & Media Law
  • Construction Law
  • Debtor/Creditor
  • Education
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  • Environmental Law
  • Finance & Banking
  • Government
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  • Intellectual Property
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  • Real Estate
  • Science, Computers, & Tech
  • Securities Law
  • Taxation
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Locations
Other U.S. Locations
  • California
  • D.C.
  • New York
  • Texas
Other Countries
  • Switzerland
  • United Kingdom
Number of Attorneys

400+ Attorneys

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