Sutherland Asbill & Brennan LLP

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Cheryl I. Aaron

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

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Bert Adams

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 »

Mary Alexander

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Dennis Allen

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

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F. Danielle Allison

Non-Unionized Employers: The NLRB Commands Your Attention

Many non-unionized employers might be surprised to learn that they, too, are governed by the National Labor Relations Board (NLRB). In fact, in 2012, the NLRB launched a website directed at non-union employees, which details the…more

At-Will Employment, Class Action, Class Action Arbitration Waivers, Confidential Employer Investigations, NLRA

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Peter Anderson

Supreme Court Expands SOX Whistleblower Protection to Employees of Private Contractors of Public Companies

In the first SOX whistleblower case to be heard by the U.S. Supreme Court, the Court held on March 4 that the Sarbanes-Oxley Act of 2002 (SOX) prohibits private contractors of publicly traded companies from retaliating against…more

Contractors, Fidelity Investments, FMR LLC, Lawson v FMR, Retaliation

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Andrew Appleby

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Eric Arnold

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused on…more

Casualty Insurance, Corporate Governance, Cyber Insurance, Cybersecurity, Flood Insurance

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Joshua Aronson, Ph.D.

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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David Arrojo

Access to Recent DMF Data Restricted to Certified Persons Starting Today

Today, the U.S. Department of Commerce’s National Technical Information Service (NTIS) put into effect a certification program required for any person or entity seeking to access information during the three-year period…more

Data Protection, Death Master Files, Social Security

See All Updates »

Zachary Atkins

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

See All Updates »

David Baay

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 »

Brendan Ballard

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

See All Updates »

Margaret C. Barker

Legal Alert: IRS Rules on Account-Opening Bonuses in IRAs and 529 Plans

The Internal Revenue Service (the Service) recently released PLR 201310043 (December 11, 2012), which addresses account - opening bonuses credited to an individual retirement account (IRA) or section 529 college tuition savings…more

529 Plans, Bonuses, IRA, IRS, Reporting Requirements

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Wilson Barmeyer

The CFPB Releases Its “Data Point” Report on Payday Lending

On March 25, 2014, the Consumer Financial Protection Bureau (CFPB) released its second report on payday lending. This report followed a white paper on payday lending and deposit advance products that the CFPB issued in April…more

CFPB, Payday Loans

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Keith Barnett

Department of Labor Issues Interim Final Employee Whistleblower Rule Under the Consumer Financial Protection Act

On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower…more

CFPA, CFPB, DOL, OSHA, Whistleblower Protection Policies

See All Updates »

Madison Barnett

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

See All Updates »

Brian Barrett

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

See All Updates »

Frederick Bellamy

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

See All Updates »

Herbert Beller

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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Elisabeth Bentzinger

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

See All Updates »

Marlys Bergstrom

Access to Recent DMF Data Restricted to Certified Persons Starting Today

Today, the U.S. Department of Commerce’s National Technical Information Service (NTIS) put into effect a certification program required for any person or entity seeking to access information during the three-year period…more

Data Protection, Death Master Files, Social Security

See All Updates »

Todd Betor

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

See All Updates »

Bruce Bettigole

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

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Jeffrey Bialos

Judicial Review of Government Contractor Suspensions

In recent years, the U.S. government has exercised enhanced scrutiny over federal contractors through, among other things, the increased use of its suspension and debarment remedies – fueled in part by reports of contractor…more

Affiliates, COFC, Defense Logistics Agency, Department of Defense, Federal Acquisition Regulations

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Thomas Bissett

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

See All Updates »

Steven B. Boehm

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

See All Updates »

Scott Booth

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 »

Joshua Borden

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 »

Nicole Boutros

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

See All Updates »

James Briody

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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Carmen Brun

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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Thomas Bundy, III

Department of Labor Issues Interim Final Employee Whistleblower Rule Under the Consumer Financial Protection Act

On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower…more

CFPA, CFPB, DOL, OSHA, Whistleblower Protection Policies

See All Updates »

B. Scott Burton

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused on…more

Casualty Insurance, Corporate Governance, Cyber Insurance, Cybersecurity, Flood Insurance

See All Updates »

Thomas Byrne

Legal Alert: My Brother’s TCPA Keeper? Recent Cases Highlight Third-Party Risk Under the Telephone Consumer Protection Act

Early 2014 has produced a series of court decisions highlighting third-party liability issues under the Telephone Consumer Protection Act (TCPA). In February, the U.S. Supreme Court declined to hear a case about liability for…more

Advertising, FCC, SCOTUS, TCPA, Third-Party Risk

See All Updates »

James M. Cain

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

See All Updates »

Amanda Callais

Legal Alert: My Brother’s TCPA Keeper? Recent Cases Highlight Third-Party Risk Under the Telephone Consumer Protection Act

Early 2014 has produced a series of court decisions highlighting third-party liability issues under the Telephone Consumer Protection Act (TCPA). In February, the U.S. Supreme Court declined to hear a case about liability for…more

Advertising, FCC, SCOTUS, TCPA, Third-Party Risk

See All Updates »

Brittany Cambre

SEC’s Office of the Whistleblower Warns Companies and Inside Counsel Against Using Employment Incentives to Deter External Whistleblowing

During a recent panel discussion at the Georgetown University Law Center’s 18th Annual Corporate Counsel Institute, the head of the U.S. Securities and Exchange Commission’s Office of the Whistleblower, Sean McKessy, warned…more

Corporate Counsel, SEC, Whistleblower Protection Policies, Whistleblowers

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Doyle Campbell

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

See All Updates »

Kally Y. Carreathers

Federal Agencies Issue Final Volcker Rule

On December 10, 2013, five federal agencies, including the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, and the…more

Banks, CFTC, Compliance, Dodd-Frank, FDIC

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Samuel Casey

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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Eric Cayford

Legal Alert: One Shade of GRA: Proposed Regulations Foreshadow the End of the GRA Directive and Provide That "Available Upon Request" Is a "Willful Failure"

On January 30, Treasury and the IRS issued proposed regulations relating to the proper filing of gain recognition agreements (GRAs) and other related compliance obligations (the Proposed Regulations). As a general matter, a U.S…more

Directors, Federal Reserve, Gain Recognition Agreements, IRS, Stocks

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Christopher Chang

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

See All Updates »

Robert S. Chase II

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

See All Updates »

Nicholas Christakos

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

See All Updates »

Brenna Clark

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

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Reginald Clark

The Honeymoon Is Over: IRS Says It Is Time to Amend Plans to Cover Same-Sex Spouses

On April 4, 2014, the Internal Revenue Service (IRS) released Notice 2014-19, which provides a series of Q&As regarding the application of the U.S. Supreme Court’s decision in United States v. Windsor and the IRS’s prior…more

IRS, Marriage, Same-Sex Marriage, SCOTUS, Tax Benefits

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James Cline, Jr.

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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Rachel Giesber Clingman

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 »

Maia Cogen

Georgia District Court Judge Rules that FIRREA Precludes D&O Insurer Declaratory Judgment Actions Against FDIC as Receiver and Insured D&Os

On March 5, 2014, Judge Richard Story in the United States District Court for the Northern District of Georgia issued an order denying Plaintiff OneBeacon Midwest Insurance Company’s (OneBeacon) Motion for Limited…more

Board of Directors, D&O Insurance, FDIC, FIRREA, Professional Liability

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Adam Cohen

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

See All Updates »

N. Jerold Cohen

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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Kent Collier

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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Mikka Gee Conway

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

See All Updates »

Robert Copps

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

See All Updates »

Thomas Cullinan

Legal Alert: The 2013 Tax Litigation Year in Review: Important Events

As we look forward to 2014, we take a look back at the top 10 important tax controversy issues making the news in 2013 that may have continuing importance in the future…more

Banks, IRS, SCOTUS, United States v Woods, UTPs

See All Updates »

Jeanette Curtis

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

See All Updates »

Thomas Curvin

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

See All Updates »

Lee Davis

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

See All Updates »

Miranda Davis

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 »

Warren N. Davis

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

See All Updates »

Peter Dean

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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Joseph DePew

Legal Alert: The 2013 Tax Litigation Year in Review: Important Events

As we look forward to 2014, we take a look back at the top 10 important tax controversy issues making the news in 2013 that may have continuing importance in the future…more

Banks, IRS, SCOTUS, United States v Woods, UTPs

See All Updates »

Nikola R. Djuric

Legal Alert: The Cliff-Hanger (Chapter One) is Over: Highlights of the American Taxpayer Relief Act of 2012

On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the Act), effective as of January 1, 2013. In general, the Act made permanent for most taxpayers the tax rate cuts first enacted under…more

Alternative Minimum Tax, American Taxpayer Relief Act, Business Taxes, Capital Gains, Dividends

See All Updates »

Knox Dobbins

Department of Labor Issues Interim Final Employee Whistleblower Rule Under the Consumer Financial Protection Act

On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower…more

CFPA, CFPB, DOL, OSHA, Whistleblower Protection Policies

See All Updates »

Kara Duffle

Department of Labor Issues Interim Final Employee Whistleblower Rule Under the Consumer Financial Protection Act

On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower…more

CFPA, CFPB, DOL, OSHA, Whistleblower Protection Policies

See All Updates »

Ellen Dunn

Access to Recent DMF Data Restricted to Certified Persons Starting Today

Today, the U.S. Department of Commerce’s National Technical Information Service (NTIS) put into effect a certification program required for any person or entity seeking to access information during the three-year period…more

Data Protection, Death Master Files, Social Security

See All Updates »

Dwaune Dupree

Legal Alert: The Cliff-Hanger (Chapter One) is Over: Highlights of the American Taxpayer Relief Act of 2012

On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the Act), effective as of January 1, 2013. In general, the Act made permanent for most taxpayers the tax rate cuts first enacted under…more

Alternative Minimum Tax, American Taxpayer Relief Act, Business Taxes, Capital Gains, Dividends

See All Updates »

Jacob Dweck

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

See All Updates »

James Dwyer

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 »

Peter Farley

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

See All Updates »

Jaliya Stewart Faulkner

Department of Labor Issues Interim Final Employee Whistleblower Rule Under the Consumer Financial Protection Act

On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower…more

CFPA, CFPB, DOL, OSHA, Whistleblower Protection Policies

See All Updates »

Jonathan Feldman

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

See All Updates »

Eric Fenichel

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused on…more

Casualty Insurance, Corporate Governance, Cyber Insurance, Cybersecurity, Flood Insurance

See All Updates »

Kevin Finnegan

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 »

Jennifer Fletcher

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

See All Updates »

Paul Forshay

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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Ann Fort

Legal Alert: Better Luck Next Time? Trial Judge Rejects RICO Claim Against Innovatio IP Ventures, Wireless Hot Spot NPE

For those interested in the unique legal issues presented by the licensing and litigation efforts of non-practicing entities, the Chicago-based litigation involving non-practicing entity Innovatio IP Ventures, LLC, has showcased…more

Breach of Contract, False Statements, Innovatio, Licenses, Non-Practicing Entities

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Daniel Frank

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

See All Updates »

Dorothy Black Franzoni

Legal Alert: Energy Tax Reform: Current Updates And What It Means For Companies In The Energy Sector

Energy tax reform has been the subject of three recent, and very significant, administrative and legislative proposals: - The President’s 2015 budget, released on March 4, 2014; - The comprehensive tax reform plan…more

Energy, Energy Tax Incentives, Tax Reform

See All Updates »

Jeffrey Friedman

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Ted Friedman

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Daphne G. Frydman

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

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Juan Garcia

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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Jonathan Gardiner

Legal Alert: One Shade of GRA: Proposed Regulations Foreshadow the End of the GRA Directive and Provide That "Available Upon Request" Is a "Willful Failure"

On January 30, Treasury and the IRS issued proposed regulations relating to the proper filing of gain recognition agreements (GRAs) and other related compliance obligations (the Proposed Regulations). As a general matter, a U.S…more

Directors, Federal Reserve, Gain Recognition Agreements, IRS, Stocks

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Matt Gatewood

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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Andrea Gehman

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

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Thomas A. Gick

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

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Thomas Glassic

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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Jonathan Goldman

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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Saren Goldner

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

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Patricia Gorham

SEC’s Office of the Whistleblower Warns Companies and Inside Counsel Against Using Employment Incentives to Deter External Whistleblowing

During a recent panel discussion at the Georgetown University Law Center’s 18th Annual Corporate Counsel Institute, the head of the U.S. Securities and Exchange Commission’s Office of the Whistleblower, Sean McKessy, warned…more

Corporate Counsel, SEC, Whistleblower Protection Policies, Whistleblowers

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Alison Graab

NIST Cybersecurity Framework – What It Is and What It Means for the Energy Industry

The federal government’s long-awaited Cybersecurity Framework offers promising tools for energy companies to manage their cybersecurity risk, but leaves many questions unanswered. The National Institute of Standards and…more

Critical Infrastructure Sectors, Cybersecurity, Cybersecurity Framework, Data Protection, Energy

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Olga Greenberg

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

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Malvern Griffin III

Legal Alert: Better Luck Next Time? Trial Judge Rejects RICO Claim Against Innovatio IP Ventures, Wireless Hot Spot NPE

For those interested in the unique legal issues presented by the licensing and litigation efforts of non-practicing entities, the Chicago-based litigation involving non-practicing entity Innovatio IP Ventures, LLC, has showcased…more

Breach of Contract, False Statements, Innovatio, Licenses, Non-Practicing Entities

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Meghan R. Gruebner

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

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Timothy Gustafson

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Cheryl Haas

Department of Labor Issues Interim Final Employee Whistleblower Rule Under the Consumer Financial Protection Act

On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower…more

CFPA, CFPB, DOL, OSHA, Whistleblower Protection Policies

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Sahang-Hee Hahn

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Lisa Haldar

Supreme Court Defines “Changing Clothes” to Include Steelworkers’ Donning and Doffing of Certain Protective Gear

On January 27, 2014, the United States Supreme Court unanimously affirmed a decision by the U.S. Court of Appeals for the Seventh Circuit holding that steelworkers’ donning and doffing of certain items of required protective…more

Collective Bargaining, FLSA, Sandifer v U.S. Steel Corp, SCOTUS, Unions

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Victor P. Haley

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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Issa Hanna

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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Ruth Harper

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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Richard Hartnig

Legal Alert: One Shade of GRA: Proposed Regulations Foreshadow the End of the GRA Directive and Provide That "Available Upon Request" Is a "Willful Failure"

On January 30, Treasury and the IRS issued proposed regulations relating to the proper filing of gain recognition agreements (GRAs) and other related compliance obligations (the Proposed Regulations). As a general matter, a U.S…more

Directors, Federal Reserve, Gain Recognition Agreements, IRS, Stocks

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Michael Hepburn

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

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Jennifer Herbert

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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Mark Herlach

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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Thomas Herman

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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Alexander S. Holtan

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

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Heather Howdeshell

Legal Alert: Georgia Department of Banking and Finance Publishes Proposed Regulations Regarding Chartering of Merchant Acquirer Limited Purpose Banks

On July 31, 2013, the Georgia Department of Banking and Finance published its first set of proposed regulations to implement the Georgia Merchant Acquirer Limited Purpose Bank Act. The Act, which became effective on March 28,…more

Banks, Credit Cards, FDIC, MasterCard, Payment Processors

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Joel Hughey

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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Eric Hurst

Legal Alert: Georgia Court of Appeals Upholds Lien, but the Lien May Have Limited Value

In a recent case, the Georgia Court of Appeals reaffirmed that, in most instances, a contractor’s or materialmen’s lien may only be asserted against “whatever interest his employer had in the property at the time the work was…more

Commercial Leases, Contractors, Land Developers, Land Titles, Liens

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M. Hill Jeffries

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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Daniel Johnson

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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James Johnson

Legal Alert: Trademark Clearinghouse and the New gTLDs

The new Generic Top - Level Domain (gTLD) expansion program developed by the Internet Corporation for Assigned Names and Numbers (ICANN) includes a Trademark Clearinghouse (TMCH), which was set to go into effect beginning March…more

Domain Names, gTLD, ICANN, Internet, Trademark Clearinghouse

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Kendall Jones

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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Sean Jordan

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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Saabir Kapoor

Sutherland SALT Shaker: August 2013 Digest

In this issue: - No Expressions of Goodwill from Arizona Department of Revenue - California Court of Appeal: ITFA Doesn’t Make the CUT - Round We Go: Indiana Denies Taxpayer’s Intercompany “Residual Profit”…more

Excise Tax, Goodwill, Income Taxes, Intangibles, IRS

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Gregory Kaufman

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

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Sheldon Kay

Legal Alert: The 2013 Tax Litigation Year in Review: Important Events

As we look forward to 2014, we take a look back at the top 10 important tax controversy issues making the news in 2013 that may have continuing importance in the future…more

Banks, IRS, SCOTUS, United States v Woods, UTPs

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Charles C. Kearns

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Michael Kerman

New Florida Statute Allows Limitation of Design Professional Liability

Over the past fourteen years, third parties have been able to maintain a direct negligence cause of action against an individual design professional, such as an architect or engineer, arising out a construction project, despite…more

Architects, Construction Defects, Contractors, Design Defects, Negligence

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Jessica Kerner

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Scott Killian

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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Kevin King

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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Clifford E. Kirsch

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

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Justin Kitchens

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused on…more

Casualty Insurance, Corporate Governance, Cyber Insurance, Cybersecurity, Flood Insurance

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Meltem F. Kodaman

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

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Michael B. Koffler

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

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Alexandra Konieczny

NIST Cybersecurity Framework – What It Is and What It Means for the Energy Industry

The federal government’s long-awaited Cybersecurity Framework offers promising tools for energy companies to manage their cybersecurity risk, but leaves many questions unanswered. The National Institute of Standards and…more

Critical Infrastructure Sectors, Cybersecurity, Cybersecurity Framework, Data Protection, Energy

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Susan S. Krawczyk

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

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Charles Kruly

Department of Labor Issues Interim Final Employee Whistleblower Rule Under the Consumer Financial Protection Act

On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower…more

CFPA, CFPB, DOL, OSHA, Whistleblower Protection Policies

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Catherine M. Krupka

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

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Cynthia M. Krus

SEC’s Office of the Whistleblower Warns Companies and Inside Counsel Against Using Employment Incentives to Deter External Whistleblowing

During a recent panel discussion at the Georgetown University Law Center’s 18th Annual Corporate Counsel Institute, the head of the U.S. Securities and Exchange Commission’s Office of the Whistleblower, Sean McKessy, warned…more

Corporate Counsel, SEC, Whistleblower Protection Policies, Whistleblowers

See All Updates »

Jennifer Kubicek

New Reliability Compliance Opportunities in 2013

The Federal Energy Regulatory Commission (FERC) closed out 2012 with several orders affecting reliability compliance. FERC adopted a revised definition of the “bulk electric system,” authorized FERC access to e-Tags used to…more

Compliance, Electricity, FERC, NERC, Penalties

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Susan Lafferty

The Environmental Protection Agency’s Authority to Amend the Renewable Fuel Standard

In this article: - Introduction - EPA’s Underlying Authority to Interpret the CAA - RFS Volume Mandate Reduction Authority under the CAA - Analysis of EPA’s Authority to Amend the RFS Regulatory…more

Clean Air Act, Clean Energy, Environmental Policies, EPA, Renewable Fuel Standard

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Yasho Lahiri

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

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Daniella Landers

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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Paul Lang

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

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Elisabeth Langworthy

U.S. Supreme Court Clarifies Standing Requirements for Lanham Act False Advertising Claim

A unanimous U.S. Supreme Court held Tuesday that a plaintiff may bring a false advertising claim under the Lanham Act, 15 U.S.C. § 1125(a), even where the plaintiff is not a direct competitor of the defendant. A false…more

Lanham Act, Lexmark, Lexmark v Static Control Components, SCOTUS, Standing

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John Lanier

IRS Pressures Build: Budgetary Constraints, the Aging IRS Workforce and Changes in IRS Focus

On April 10, 2013, President Obama released his proposed Fiscal Year 2014 Budget of the U.S. Government. The budget calls for an increase in funding for the Internal Revenue Service (“IRS”), which has faced budget cuts in…more

Audits, Federal Budget, IRS, Layoffs, OVDP

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Todd Lard

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Allegra Lawrence-Hardy

Department of Labor Issues Interim Final Employee Whistleblower Rule Under the Consumer Financial Protection Act

On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower…more

CFPA, CFPB, DOL, OSHA, Whistleblower Protection Policies

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Douglas Leary

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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Stephany Olsen-LeGrand

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 »

Robert Lemus

NIST Cybersecurity Framework – What It Is and What It Means for the Energy Industry

The federal government’s long-awaited Cybersecurity Framework offers promising tools for energy companies to manage their cybersecurity risk, but leaves many questions unanswered. The National Institute of Standards and…more

Critical Infrastructure Sectors, Cybersecurity, Cybersecurity Framework, Data Protection, Energy

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Kurt Lentz

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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Elizabeth Ann Lester

Patent Owners’ Heavy Burdens: Proof of Infringement

The U.S. Supreme Court reversed the U.S. Court of Appeals for the Federal Circuit in a unanimous opinion in Medtronic, Inc. v. Mirowski Family Ventures, LLC, No. 12-1128, on January 22, 2014, holding that patent owners bear the…more

Burden of Proof, Eli Lilly, Medtronics, Non-Challenge Clauses, Patent Infringement

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Jerome Libin

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

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Ling Ling

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused on…more

Casualty Insurance, Corporate Governance, Cyber Insurance, Cybersecurity, Flood Insurance

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Jade Logan

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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Shane Lord

Sutherland SALT Shaker: August 2013 Digest

In this issue: - No Expressions of Goodwill from Arizona Department of Revenue - California Court of Appeal: ITFA Doesn’t Make the CUT - Round We Go: Indiana Denies Taxpayer’s Intercompany “Residual Profit”…more

Excise Tax, Goodwill, Income Taxes, Intangibles, IRS

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Jennifer Lowndes

New Florida Statute Allows Limitation of Design Professional Liability

Over the past fourteen years, third parties have been able to maintain a direct negligence cause of action against an individual design professional, such as an architect or engineer, arising out a construction project, despite…more

Architects, Construction Defects, Contractors, Design Defects, Negligence

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Jeffrey Mace

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

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Jonathan Maddison

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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John J. Mahon

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

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Ben Marzouk

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

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David Massey

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 »

Ronald Massumi

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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Pilar Mata

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Carol McClarnon

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

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Andrew McCormick

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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David McCullough

The Environmental Protection Agency’s Authority to Amend the Renewable Fuel Standard

In this article: - Introduction - EPA’s Underlying Authority to Interpret the CAA - RFS Volume Mandate Reduction Authority under the CAA - Analysis of EPA’s Authority to Amend the RFS Regulatory…more

Clean Air Act, Clean Energy, Environmental Policies, EPA, Renewable Fuel Standard

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James McGibbon

State Attorney General Parens Patriae Actions Are Not Removable to Federal Court as CAFA “Mass Actions”

This week the U.S. Supreme Court unanimously held in Mississippi ex rel. Hood v. AU Optronics Corp. that parens patriae actions in which the State is the sole plaintiff are not “mass actions” under the Class Action Fairness Act…more

CAFA, Class Action, Mass Action, Mississippi ex rel. Hood v. AU Optronics, Parens Patriae

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David T. McIndoe

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

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Daniel McKeithen

Camp Goes All-In with Comprehensive Tax Plan: Highlights, Tax Reform Status and Impact on Taxpayers

On February 26, Representative Dave Camp (R-Mich.), chairman of the House Ways and Means Committee, released his much-awaited comprehensive tax reform plan (the “Camp Proposal”). That proposal seeks to cut marginal tax rates on…more

Capital Gains, Corporate Tax Rates, Corporate Taxes, Employee Benefits, Energy

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Jamey Medlin

Legal Alert: IRS Rules on Account-Opening Bonuses in IRAs and 529 Plans

The Internal Revenue Service (the Service) recently released PLR 201310043 (December 11, 2012), which addresses account - opening bonuses credited to an individual retirement account (IRA) or section 529 college tuition savings…more

529 Plans, Bonuses, IRA, IRS, Reporting Requirements

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Gabriel Mendel

Georgia District Court Judge Rules that FIRREA Precludes D&O Insurer Declaratory Judgment Actions Against FDIC as Receiver and Insured D&Os

On March 5, 2014, Judge Richard Story in the United States District Court for the Northern District of Georgia issued an order denying Plaintiff OneBeacon Midwest Insurance Company’s (OneBeacon) Motion for Limited…more

Board of Directors, D&O Insurance, FDIC, FIRREA, Professional Liability

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Michael Miles

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

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Douglas Mo

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Jennifer Molnar

New Final Regs on Use of Differential Income Stream in Evaluating Cost-Sharing Arrangements

On August 26, 2013, the United States Treasury Department issued new final regulations under Internal Revenue Code (IRC) Section 482. The new regulations provide guidance on the “income method” for determining taxable income in…more

Cost-Sharing, IRC, Licensing Rules, New Regulations, U.S. Treasury

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Mary Monahan

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

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Daren Moreira

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused on…more

Casualty Insurance, Corporate Governance, Cyber Insurance, Cybersecurity, Flood Insurance

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Benjamin Morgan

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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Brian Murphy

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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Alice Murtos

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

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Joanna Myers

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

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Daniel Neustadt

U.S. Supreme Court Clarifies Standing Requirements for Lanham Act False Advertising Claim

A unanimous U.S. Supreme Court held Tuesday that a plaintiff may bring a false advertising claim under the Lanham Act, 15 U.S.C. § 1125(a), even where the plaintiff is not a direct competitor of the defendant. A false…more

Lanham Act, Lexmark, Lexmark v Static Control Components, SCOTUS, Standing

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Daniel R.B. Nicholas

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

See All Updates »

Matthew Nichols

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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Sheila Novak

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

See All Updates »

Meredith O'Leary

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

See All Updates »

Victoria O’Connor

Camp Goes All-In with Comprehensive Tax Plan: Highlights, Tax Reform Status and Impact on Taxpayers

On February 26, Representative Dave Camp (R-Mich.), chairman of the House Ways and Means Committee, released his much-awaited comprehensive tax reform plan (the “Camp Proposal”). That proposal seeks to cut marginal tax rates on…more

Capital Gains, Corporate Tax Rates, Corporate Taxes, Employee Benefits, Energy

See All Updates »

Troy Olsen

Camp Goes All-In with Comprehensive Tax Plan: Highlights, Tax Reform Status and Impact on Taxpayers

On February 26, Representative Dave Camp (R-Mich.), chairman of the House Ways and Means Committee, released his much-awaited comprehensive tax reform plan (the “Camp Proposal”). That proposal seeks to cut marginal tax rates on…more

Capital Gains, Corporate Tax Rates, Corporate Taxes, Employee Benefits, Energy

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James Orr

Litigation Update on 14 Patronage Capital Cases in Eight States

Since 2009, at least 14 cases have been filed against electric cooperatives over patronage capital (or capital credits) in eight states: Alabama, Arkansas, Georgia, Missouri, New Mexico, North Carolina, South Carolina, and…more

Breach of Duty, Fiduciary Duty, Shareholder Litigation

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Robert Owen

SEC’s Office of the Whistleblower Warns Companies and Inside Counsel Against Using Employment Incentives to Deter External Whistleblowing

During a recent panel discussion at the Georgetown University Law Center’s 18th Annual Corporate Counsel Institute, the head of the U.S. Securities and Exchange Commission’s Office of the Whistleblower, Sean McKessy, warned…more

Corporate Counsel, SEC, Whistleblower Protection Policies, Whistleblowers

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Suzanne Palms

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Harry S. Pangas

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

See All Updates »

W. Henry Parkman

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

See All Updates »

William Pauls

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

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Aaron Payne

Legal Alert: The End of an Era: IRS Expands “No-Rule” Policy for Spin-Offs and Other Common Corporate Transactions

On June 25, the IRS expanded its “no-rule” policy with respect to spin-offs and other tax-free corporate separations, liquidations, contributions, and reorganizations. Effective for letter ruling requests received by the IRS…more

Integrated Transactions, IRS, Liquidation, No-Rule Policy, Spinoffs

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Lee Peifer

SEC’s Office of the Whistleblower Warns Companies and Inside Counsel Against Using Employment Incentives to Deter External Whistleblowing

During a recent panel discussion at the Georgetown University Law Center’s 18th Annual Corporate Counsel Institute, the head of the U.S. Securities and Exchange Commission’s Office of the Whistleblower, Sean McKessy, warned…more

Corporate Counsel, SEC, Whistleblower Protection Policies, Whistleblowers

See All Updates »

Leni Perkins

Legal Alert: New Extended FATCA Implementation Dates

On July 12, 2013, the IRS, in Notice 2013-43, and the Department of the Treasury in a Press Release of the same date, extended the implementation dates by six months for many of the withholding and account due diligence…more

Deadlines, Delays, FATCA, FFI, Foreign Jurisdictions

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Robert Pile

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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Kathryn Pittman

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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R. Robinson Plowden

Leasing Data Center Space: An Introduction For Retailers

Originally published in Retail Law Strategist — The Problem-Solving Tool for Retail Law - Winter 2012. For many retailers, the efficient and continuous operation of information technology (IT) infrastructure is mission…more

Outsourcing, Retail Market

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S. Lawrence Polk

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

See All Updates »

David Pope

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Robert Previti

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused on…more

Casualty Insurance, Corporate Governance, Cyber Insurance, Cybersecurity, Flood Insurance

See All Updates »

John Pruitt

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused on…more

Casualty Insurance, Corporate Governance, Cyber Insurance, Cybersecurity, Flood Insurance

See All Updates »

Raymond A. Ramirez

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

See All Updates »

Marc Rawls

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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David F. Reid

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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M. Kristan Rizzolo

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

See All Updates »

Carley Roberts

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Steven Roberts

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 »

David Roby, Jr.

Camp Goes All-In with Comprehensive Tax Plan: Highlights, Tax Reform Status and Impact on Taxpayers

On February 26, Representative Dave Camp (R-Mich.), chairman of the House Ways and Means Committee, released his much-awaited comprehensive tax reform plan (the “Camp Proposal”). That proposal seeks to cut marginal tax rates on…more

Capital Gains, Corporate Tax Rates, Corporate Taxes, Employee Benefits, Energy

See All Updates »

Peter Rodgers

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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Lisa Alpert Rosen

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

See All Updates »

Stephen Roth

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused on…more

Casualty Insurance, Corporate Governance, Cyber Insurance, Cybersecurity, Flood Insurance

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Brian L. Rubin

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

See All Updates »

Amelia Toy Rudolph

SEC’s Office of the Whistleblower Warns Companies and Inside Counsel Against Using Employment Incentives to Deter External Whistleblowing

During a recent panel discussion at the Georgetown University Law Center’s 18th Annual Corporate Counsel Institute, the head of the U.S. Securities and Exchange Commission’s Office of the Whistleblower, Sean McKessy, warned…more

Corporate Counsel, SEC, Whistleblower Protection Policies, Whistleblowers

See All Updates »

Sandra Safro

Legal Alert: New Regulation Under Cybersecurity Executive Order

President Obama yesterday issued an Executive Order to address the growing cyber threat to the Nation’s “critical infrastructure,” a term broadly defined to potentially cover natural gas and oil pipelines, storage sites and…more

Barack Obama, Cybersecurity, DHS, Electricity, Executive Orders

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Valerie Strong Sanders

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

See All Updates »

Daniel Schlueter

Legal Alert: The 2013 Tax Litigation Year in Review: Important Events

As we look forward to 2014, we take a look back at the top 10 important tax controversy issues making the news in 2013 that may have continuing importance in the future…more

Banks, IRS, SCOTUS, United States v Woods, UTPs

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Christopher Schoen

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

See All Updates »

Linda Sciuto

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

See All Updates »

Vanessa Scott

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

See All Updates »

Amish Shah

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

See All Updates »

Mark D. Sherrill

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

See All Updates »

William Sheumaker

Camp Goes All-In with Comprehensive Tax Plan: Highlights, Tax Reform Status and Impact on Taxpayers

On February 26, Representative Dave Camp (R-Mich.), chairman of the House Ways and Means Committee, released his much-awaited comprehensive tax reform plan (the “Camp Proposal”). That proposal seeks to cut marginal tax rates on…more

Capital Gains, Corporate Tax Rates, Corporate Taxes, Employee Benefits, Energy

See All Updates »

Cynthia Shoss

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused on…more

Casualty Insurance, Corporate Governance, Cyber Insurance, Cybersecurity, Flood Insurance

See All Updates »

Douglas Siegler

A Marriage Made in Washington: Treasury and IRS Recognize Same-Sex Marriages for Tax Purposes

On August 29, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS), following the U.S. Supreme Court’s decision in United States v. Windsor, jointly announced the issuance of Revenue Ruling…more

DOMA, IRS, Marriage, Same-Sex Marriage, SCOTUS

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Marc Simonetti

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Katherine Smallwood

Court Approves $7.25 Billion Settlement of Antitrust Class Action Relating to Visa and MasterCard Interchange Fees

In the face of objections from some of the nation’s largest retailers, a New York federal judge has approved a massive settlement between a putative class of approximately 12 million merchants and Visa, MasterCard, and multiple…more

Class Action, Interchange Fees, MasterCard, Retailers, Settlement

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Darryl Smith

Legal Alert: Sequestration to Cause CREB Payments to Be Reduced by 8.7%

The Office of Management and Budget has issued its Report to the Congress on the budget sequestration for federal fiscal year 2013 required by the Balanced Budget and Emergency Deficit Control Act of 1985, as amended by the…more

Barack Obama, Clean Tech, CREBs, OMB, Renewable Energy

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Holly H. Smith

SEC’s Office of the Whistleblower Warns Companies and Inside Counsel Against Using Employment Incentives to Deter External Whistleblowing

During a recent panel discussion at the Georgetown University Law Center’s 18th Annual Corporate Counsel Institute, the head of the U.S. Securities and Exchange Commission’s Office of the Whistleblower, Sean McKessy, warned…more

Corporate Counsel, SEC, Whistleblower Protection Policies, Whistleblowers

See All Updates »

W. Mark Smith

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

See All Updates »

W. Scott Sorrels

Georgia District Court Judge Rules that FIRREA Precludes D&O Insurer Declaratory Judgment Actions Against FDIC as Receiver and Insured D&Os

On March 5, 2014, Judge Richard Story in the United States District Court for the Northern District of Georgia issued an order denying Plaintiff OneBeacon Midwest Insurance Company’s (OneBeacon) Motion for Limited…more

Board of Directors, D&O Insurance, FDIC, FIRREA, Professional Liability

See All Updates »

Jeremy Spier

Legal Alert: Better Luck Next Time? Trial Judge Rejects RICO Claim Against Innovatio IP Ventures, Wireless Hot Spot NPE

For those interested in the unique legal issues presented by the licensing and litigation efforts of non-practicing entities, the Chicago-based litigation involving non-practicing entity Innovatio IP Ventures, LLC, has showcased…more

Breach of Contract, False Statements, Innovatio, Licenses, Non-Practicing Entities

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Phillip Stano

Access to Recent DMF Data Restricted to Certified Persons Starting Today

Today, the U.S. Department of Commerce’s National Technical Information Service (NTIS) put into effect a certification program required for any person or entity seeking to access information during the three-year period…more

Data Protection, Death Master Files, Social Security

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Jeffrey Starkey

Legal Alert: A Trend Emerging? District Court Disallows $1 Billion of Deductions

Earlier this year, the United States District Court for the Middle District of Louisiana upheld the Internal Revenue Service’s disallowance of $1 billion of deductions claimed by Dow Chemical in relation to two transactions that…more

Dow Chemical, IRS, Partnerships, Tax Deductions, Tax Fraud

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Laura Stipanowich

New Florida Statute Allows Limitation of Design Professional Liability

Over the past fourteen years, third parties have been able to maintain a direct negligence cause of action against an individual design professional, such as an architect or engineer, arising out a construction project, despite…more

Architects, Construction Defects, Contractors, Design Defects, Negligence

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Jason Stone

Department of Labor Issues Interim Final Employee Whistleblower Rule Under the Consumer Financial Protection Act

On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower…more

CFPA, CFPB, DOL, OSHA, Whistleblower Protection Policies

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Wade Stribling

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

See All Updates »

Kent Sullivan

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 »

Rich Sun

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

See All Updates »

Ram Sunkara

Legal Alert: Energy Tax Reform: Current Updates And What It Means For Companies In The Energy Sector

Energy tax reform has been the subject of three recent, and very significant, administrative and legislative proposals: - The President’s 2015 budget, released on March 4, 2014; - The comprehensive tax reform plan…more

Energy, Energy Tax Incentives, Tax Reform

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R. Michael Sweeney, Jr.

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

See All Updates »

Derek Takehara

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Carol Tello

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

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Mark Thibodeaux

Legal Alert: New York Department of Financial Services Issues 308 Request on Cyber Threats

On May 28, 2013, the New York State Department of Financial Services (DFS) sent inquiries to 31 of the largest life, health and property/casualty insurance companies pursuant to its authority under Section 308 of the New York…more

Critical Infrastructure Sectors, Cyber Attacks, Cyber Threats, Cybersecurity, HIPAA

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Kevin A. Thomas

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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Steuart Thomsen

Access to Recent DMF Data Restricted to Certified Persons Starting Today

Today, the U.S. Department of Commerce’s National Technical Information Service (NTIS) put into effect a certification program required for any person or entity seeking to access information during the three-year period…more

Data Protection, Death Master Files, Social Security

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Maria Todorova

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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Jack Trachtenberg

Sutherland SALT Shaker: May 2013 Digest

In this issue: - California FTB Takes Harley-Davidson for a Ride: Securitization Subsidiaries Are Financial Corporations with Nexus in California - “Tut-Tut,” Long Beach: California Supreme Court Permits Taxpayers…more

Franchise Tax Board, Harley-Davidson, Multistate Tax Commission, Sales & Use Tax, Tax Exemptions

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Greg Traylor

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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Eric Tresh

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Annette Tripp

Employers Should Use Revised FCRA Disclosure for Employees and Job Applicants

Employers who use consumer reports as part of their decision-making process in the hiring, promotion or firing of employees should note the attached “A Summary of Your Rights under the Fair Credit Reporting Act” issued by the…more

Background Checks, CFPB, Compliance, Credit Reporting Agencies, Credit Reports

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Stephen Tsai

CFTC Affords Market Participants a “Second Bite” at the Swap Recordkeeping and Reporting Rules

Last month, the Commodity Futures Trading Commission (CFTC) issued a request for public comment on its swap data recordkeeping and reporting requirements under Part 45 of its regulations. The CFTC adopted Part 45 in 2012…more

CFTC, Dodd-Frank, Recordkeeping Requirements

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Paul B. Turner

CFTC Announces Beginning of Real-Time Reporting and Swap Dealer Registration Requirements and Releases List of Provisionally Registered Swap Dealers

Today, Wednesday, January 2, 2013, the Commodity Futures Trading Commission (CFTC) announced that final rules pertaining to: (1) real-time reporting of swap transaction data; and (2) swap dealer registration requirements, became…more

CFTC, Registration, Swap Dealers, Swaps

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Michael Voynich

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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William Walderman

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

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John Walsh

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based…more

Broker-Dealer, No-Action Letters, Registration, SEC, Securities Exchange Act

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Bryan Ward

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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Thomas Warren

Legal Alert: Energy Tax Reform: Current Updates And What It Means For Companies In The Energy Sector

Energy tax reform has been the subject of three recent, and very significant, administrative and legislative proposals: - The President’s 2015 budget, released on March 4, 2014; - The comprehensive tax reform plan…more

Energy, Energy Tax Incentives, Tax Reform

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William Warren

Patent Owners’ Heavy Burdens: Proof of Infringement

The U.S. Supreme Court reversed the U.S. Court of Appeals for the Federal Circuit in a unanimous opinion in Medtronic, Inc. v. Mirowski Family Ventures, LLC, No. 12-1128, on January 22, 2014, holding that patent owners bear the…more

Burden of Proof, Eli Lilly, Medtronics, Non-Challenge Clauses, Patent Infringement

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Ian Wasser, Ph.D.

Legal Alert: Trademark Clearinghouse and the New gTLDs

The new Generic Top - Level Domain (gTLD) expansion program developed by the Internet Corporation for Assigned Names and Numbers (ICANN) includes a Trademark Clearinghouse (TMCH), which was set to go into effect beginning March…more

Domain Names, gTLD, ICANN, Internet, Trademark Clearinghouse

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William Watts III

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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Carol Weiser

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans

On April 3, 2014, the Internal Revenue Service released Revenue Ruling 2014-9 (the Ruling), which provides guidance helpful to the administration of rollovers by tax-qualified retirement plans by..…more

Due Diligence, IRA Rollovers, IRS, Qualified Retirement Plans, Retirement Plan

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Gail Westover

Department of Labor Issues Interim Final Employee Whistleblower Rule Under the Consumer Financial Protection Act

On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower…more

CFPA, CFPB, DOL, OSHA, Whistleblower Protection Policies

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Lewis Wiener

Department of Labor Issues Interim Final Employee Whistleblower Rule Under the Consumer Financial Protection Act

On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower…more

CFPA, CFPB, DOL, OSHA, Whistleblower Protection Policies

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David Wigley, Ph.D.

Legal Alert: Monsanto Ruling Protects Innovators of Self-Replicating Biotechnology

On May 13, 2013, a unanimous U.S. Supreme Court held in Monsan to v. Bowman that the doctrine of patent exhaustion does not permit a farmer to reproduce patented seeds for planting and harvesting without the patent holder's…more

Biotechnology, Bowman v Monsanto, Genetically Engineered Seed, Infringement, Monsanto

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William Wildman

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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Carter Williams

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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Yvonne Williams-Wass

Georgia District Court Judge Rules that FIRREA Precludes D&O Insurer Declaratory Judgment Actions Against FDIC as Receiver and Insured D&Os

On March 5, 2014, Judge Richard Story in the United States District Court for the Northern District of Georgia issued an order denying Plaintiff OneBeacon Midwest Insurance Company’s (OneBeacon) Motion for Limited…more

Board of Directors, D&O Insurance, FDIC, FIRREA, Professional Liability

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Prentiss Willson

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Mary Jane Wilson-Bilik

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused on…more

Casualty Insurance, Corporate Governance, Cyber Insurance, Cybersecurity, Flood Insurance

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P. Bruce Wright

FY 2015 Budget Tax Proposals Target Insurance Companies

On March 4, the Obama Administration released its fiscal year 2015 budget (FY 2015 Budget). In keeping with the Administration’s past budgets, the FY 2015 Budget includes a number of tax proposals that target insurance…more

Corporate Taxes, FATCA, Federal Budget, Insurers, Tax Liability

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W. Scott Wright

Legal Alert: New York Tax Reform to Impact Captive Insurance Companies

In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity…more

Andrew Cuomo, Captive Insurance Company, Corporate Taxes, State Taxes, Tax Reform

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Jae C. Yoon

Stepping Into the Ring Against the SEC and FINRA: Sometimes It Pays to Duke It Out Against the Regulators

Originally published in Thomson Reuters - Securities Regulation Law Journal - Winter 2012. Faced with the possibility of litigating against the Securities and Exchange Commission (SEC) or the Financial Industry Regulatory…more

ALJ, Appeals, Broker-Dealer, Compliance, FINRA

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Natalya Zelensky

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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H. Karl Zeswitz, Jr.

Camp Goes All-In with Comprehensive Tax Plan: Highlights, Tax Reform Status and Impact on Taxpayers

On February 26, Representative Dave Camp (R-Mich.), chairman of the House Ways and Means Committee, released his much-awaited comprehensive tax reform plan (the “Camp Proposal”). That proposal seeks to cut marginal tax rates on…more

Capital Gains, Corporate Tax Rates, Corporate Taxes, Employee Benefits, Energy

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David Zimmerman

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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