On May 14, 2012, the New York Department of Financial Services (the NYDFS) announced the emergency promulgation of Insurance Regulation 200. The emergency regulation requires all life insurers doing business in New York to…more
On May 10, the Multistate Tax Commission's (MTC) Executive Committee approved for further consideration model uniformity laws dealing with: (1) communications transaction tax centralized administration; and (2) tax collections…more
On April 25, 2012, a divided five-to-four U.S. Supreme Court held in U.S. v. Home Concrete & Supply, LLC, et al., 566 U.S. ___, 2012 WL 1413964 (2012), that the extended six-year statute of limitations under IRC Section…more
On April 25, 2012, the U.S. Equal Employment Opportunity Commission issued updated enforcement guidance on employer use of arrest and conviction records in employment decisions under Title VII of the Civil Rights Act of 1964…more
On May 7, 2012, the Department of Labor (DOL) released Field Assistance Bulletin 2012-02 (the “Bulletin”), which provides additional guidance on the final participant-level fee disclosure regulations (the “Participant-Level…more
A disturbing trend is developing in state and local taxation: the use of false claims acts (FCAs) with qui tam provisions as a basis for challenging taxpayers’ tax return filings. On April 19 the New York state attorney general…more
The U.S. International Trade Commission (ITC or the Commission) recently issued questionnaires to gather information from industry in connection with its final injury investigation of imports of large power transformers from…more
As published in Genetic Engineering & Biotechnology News, May 1, 2012. Reprinted with permission.
On March 20, 2012, the U.S. Supreme Court unanimously held in Mayo Collaborative Services v. Prometheus Laboratories that a…more
On April 18, 2012, the Commodity Futures Trading Commission (CFTC or the Commission) adopted a final rule that will generally regulate commodity options as swaps (the Final Rule) under the Dodd-Frank Wall Street Reform and…more
The controversial methodology relied upon by several states to assess corporate taxpayers for transfer pricing violations has been ruled invalid by a D.C. Administrative Law Judge (ALJ). Microsoft Corporation, Inc. v. Office of…more
On April 30, 2012, the U.S. Environmental Protection Agency (EPA) issued a Notice of Violation (NOV) of the Clean Air Act’s Renewable Fuel Standard (RFS2) to Green Diesel, LLC of Houston, Texas for generating and selling…more
In Kappos v. Hyatt, the U.S. Supreme Court unanimously affirmed an en banc decision by the U.S. Court of Appeals for the Federal Circuit, finding that, subject only to the Federal Rules of Evidence and the Federal Rules of Civil…more
The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) adopted highly anticipated final rules yesterday to further define the terms “swap dealer,” “security-based swap dealer,” “major…more
On March 29, 2012, the Circuit Court of the City of Richmond held that an exception to Virginia’s related party addback statute applied to licensing arrangements that included a sublicensor. Wendy’s International, Inc. v…more
Nearly a year after issuing proposed regulations that aimed to modify the so-called “supersecret rule” of Treas. Reg. § 1.267(f)-1(c)(1)(iv) (the Proposed Regulations), Treasury and the Internal Revenue Service (the IRS) issued…more
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