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In Gabelli v. SEC, 568 US ___ (2013), a unanimous Supreme Court reversed the Second Circuit and held that the five-year statute of limitations for Government civil penalty enforcement actions under 28 U.S.C. §2642 begins to run…more
Discovery Rule, Fraud, Gabelli v SEC, SCOTUS, SEC
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See All Updates »
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The Turkish government’s agenda for development is one of the most ambitious in the world. Combined with investor friendly changes in the market, including a new investment incentive regime and new regulation enhancing…more
Financing, Foreign Investment, Public-Private Partnerships, Shareholders
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See All Updates »
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Below are brief summaries of the agenda items for the Federal Energy Regulatory Commission’s May 16, 2013 meeting, pursuant to the agenda as issued on May 9, 2013. Agenda items E-3, E-13, E-17 have not been summarized as they…more
FERC, Geomagnetic Storms, Oil & Gas, Water
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See All Updates »
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The Supreme Court this week handed down judgment in the case of R (on the application of Prudential plc and another) v Special Commissioner of Income Tax and another, confirming that legal advice privilege does not extend to…more
Accountants, EU, Legal Advice Privilege, Tax Advice
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See All Updates »
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As widely expected, earlier this week the Government announced proposals for reform of the private competition damages regime in the UK, proposing to increase the Competition Appeal Tribunal’s (CAT) power and introduce an…more
Class Action, Competition Appeal Tribunal, EU, Private Competition Damages
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See All Updates »
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In the space of a few days in mid-October, the Commodity Futures Trading Commission (the “CFTC”) published a number of Q&As and FAQs and the CFTC staff at the Division of Swap Dealer and Intermediary Oversight (the “Division”)…more
CFTC, No-Action Letters, Swap Dealers
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See All Updates »
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Russia's recent accession to the WTO has the potential to bring numerous benefits to Russian exporters. Membership will result in improved access for Russian exports in foreign markets — including the EU, the United States and…more
WTO
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See All Updates »
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The Court of Appeal’s recent decision in Olympic Airlines SA (in special liquidation) v ACG Acquisition XX LLC [2013] EWCA Civ 369 gives welcome comfort to lessors that properly drafted Certificates of Acceptance will provide an…more
Airlines, Certificates of Acceptance, EU, Leases
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See All Updates »
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The Court of Appeal’s recent decision in Olympic Airlines SA (in special liquidation) v ACG Acquisition XX LLC [2013] EWCA Civ 369 gives welcome comfort to lessors that properly drafted Certificates of Acceptance will provide an…more
Airlines, Certificates of Acceptance, EU, Leases
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See All Updates »
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The Republic of Guinea is home to substantial reserves of mineral resources, notably in bauxite and iron ore, and is widely considered in the mining and metals sector as a key jurisdiction to watch for significant growth in the…more
Minerals, Mining, Mining Contracts
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See All Updates »
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In a judgment handed down today, in a preliminary reference from the Irish Supreme Court, in Thomas Pringle v The Government of Ireland, Ireland and the Attorney General (Case C-370/12), the Court of Justice of the European…more
European Stability Mechanism
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See All Updates »
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This alert analyzes the legal positions taken by the Presidium of the Russian Federation Supreme Commercial Court (“SCC”) in its recently published review of commercial court practice in cases concerning the application of…more
Arbitration, Arbitration Awards, Enforcement, EU, International Arbitration
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See All Updates »
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On January 10, 2013, the Federal Trade Commission (FTC) announced the annual changes to the Hart-Scott-Rodino (HSR) Act notification thresholds. The FTC is required to revise the jurisdictional thresholds annually, based on the…more
FTC, Hart-Scott-Rodino Act, Size of Persons Test, Size of Transaction Test, Threshhold Requirements
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See All Updates »
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At long last, Glencore has overcome the final regulatory hurdle and secured the approval of China’s Ministry of Commerce (MOFCOM) to acquire the 66 percent of Xstrata that it does not already own. But not before agreeing to part…more
China, Glencore, MOFCOM, Xstrata
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See All Updates »
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Italian Law No. 228 dated December 24, 2012, which approved the 2013 budget, contemplates, among others, a new tax applicable to certain financial transactions (the “Tobin Tax”).
The Tobin Tax will apply to transactions,…more
Buyers, Derivatives, Duties, Foreign Banks, High Frequency Trading
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See All Updates »
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In This Issue:
- Congress Keeps Wind Credit Alive, Adds New “Begin Construction” Requirement
- FERC Approves NERC’s “Bright-Line” BES; Revised Rules of Procedure
- Exercising Its Muscle—Enforcement Actions by the…more
Department of Energy, Enforcement Actions, Exports, FERC, Liquid Natural Gas
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See All Updates »
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Global Overview:
Continued aggressive cartel enforcement in 2012 Authorities around the world continued to vigorously enforce cartel law in 2012. Total fines increased in many jurisdictions, and authorities around the world…more
Appeals, Cartels, Class Action, Criminal Sanctions, DOJ
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See All Updates »
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In Gabelli v. SEC, 568 US ___ (2013), a unanimous Supreme Court reversed the Second Circuit and held that the five-year statute of limitations for Government civil penalty enforcement actions under 28 U.S.C. §2642 begins to run…more
Discovery Rule, Fraud, Gabelli v SEC, SCOTUS, SEC
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See All Updates »
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On February 12, 2013, President Obama signed an executive order for "Improving Critical Infrastructure Cybersecurity" (the "Executive Order"). The Executive Order seeks to promote information sharing between the government and…more
Barack Obama, CISPA, Critical Infrastructure Sectors, Cybersecurity, Executive Orders
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See All Updates »
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This alert analyzes the legal positions taken by the Presidium of the Russian Federation Supreme Commercial Court (“SCC”) in its recently published review of commercial court practice in cases concerning the application of…more
Arbitration, Arbitration Awards, Enforcement, EU, International Arbitration
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See All Updates »
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Summary -
On January 31, 2013, the Ministry of National Planning and Economic Development released the new Implementing Regulations for the Myanmar Foreign Investment Law No. 21 (FIL No. 21). President U Thein Sein signed…more
Foreign Investment, Notice Requirements, Sanctions
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See All Updates »
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In a judgment handed down today, in a preliminary reference from the Irish Supreme Court, in Thomas Pringle v The Government of Ireland, Ireland and the Attorney General (Case C-370/12), the Court of Justice of the European…more
European Stability Mechanism
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See All Updates »
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Originally published in Bio-Science Law Review - November 2012.
On 20 March 2012, in Mayo Collaborative Servs v Prometheus Labs, Inc., the Supreme Court of the United States invalidated diagnostic treatment process…more
Mayo v. Prometheus, Myriad, Patents
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After more than five years of litigation between Cukurova of Turkey and Alfa of Russia, the Privy Council has delivered a pivotal ruling in Cukurova’s favour. The decision establishes that a borrower may be entitled to equitable…more
Borrowers, Collateralized Debt Obligations, Debt, Equitable Relief, EU
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See All Updates »
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On 16 March 2013, new regulations came into force in relation to the Late Payment of Commercial Debts (Interest) Act.
Enacted to incorporate a recent EU Directive, these new regulations introduce a maximum payment period…more
Commercial Contracts, Debt, EU, Late Payments
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See All Updates »
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A dynamic market -
Russia is a dynamic, developing growth market, with a constantly changing legal environment. Right now Russia is seeing an upturn of activity in corporate transactions of all kinds: mergers and…more
Enforcement, Foreign Investment, Foreign Jurisdictions, Joint Venture, Public Listing
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See All Updates »
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The Board of Governors of the Federal Reserve System (“Board”) has devoted some time to considering how to address the potential threat to the financial stability of the United States posed by a foreign bank with banking…more
Bank Holding Company, Broker-Dealer, Capital Requirements, Dividends, Federal Reserve
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See All Updates »
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Introduction -
On October 18, 2012, the Securities and Exchange Commission (the “SEC”) issued Release No. 34-68071 containing its proposed rules (the “Proposed Rules”) relating to the capital, margin and segregation…more
Broker-Dealer, Capital Requirements, Extensions, Major Swap Participants, Margin Requirements
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See All Updates »
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In Gabelli v. SEC, 568 US ___ (2013), a unanimous Supreme Court reversed the Second Circuit and held that the five-year statute of limitations for Government civil penalty enforcement actions under 28 U.S.C. §2642 begins to run…more
Discovery Rule, Fraud, Gabelli v SEC, SCOTUS, SEC
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See All Updates »
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In Gabelli v. SEC, 568 US ___ (2013), a unanimous Supreme Court reversed the Second Circuit and held that the five-year statute of limitations for Government civil penalty enforcement actions under 28 U.S.C. §2642 begins to run…more
Discovery Rule, Fraud, Gabelli v SEC, SCOTUS, SEC
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See All Updates »
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On February 28, 2013, India’s Finance Minister presented the country’s budget for the fiscal year beginning April 1, 2013 (Budget). The Budget includes several proposals that affect international investors investing in India,…more
Business Taxes, Foreign Investment, GAAR, Royalties, Tax-Residency Certificate
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See All Updates »
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The European Economic and Monetary Affairs Council has approved amendments to the Brussels Regulation (EC Regulation 44/2001 on jurisdiction and the recognition and enforcement of judgments in civil and commercial…more
Arbitration, Arbitration Agreements, EU, Foreign Judgments, Jurisdiction
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See All Updates »
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Originally published in the NYU Journal of Law & Business - Vol. 9:269, 2012.
This article suggests that the generally accepted “offensive/defensive” standard used by bankruptcy courts to determine whether a debtor may…more
Automatic Stay, Debtors, Dueling Debtor, Enron, Equitable Subordination
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See All Updates »
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A New York state court has ruled that a DMCA safe harbor does not protect internet services from claims they infringe pre-1972 sound recordings. The decision, UMG Recordings v. Escape Media Group, creates new uncertainty and…more
Copyright, Copyright Infringement, DCMA, Internet Service Providers, Safe Harbors
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See All Updates »
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Regulation FD -
Regulation FD prohibits US public companies or persons acting on their behalf from selectively disclosing material, nonpublic information to securities professionals or investors when it is reasonably…more
Disclosure Requirements, Information Sharing, Netflix, Regulation FD, SEC
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See All Updates »
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On January 10, 2013, the Federal Trade Commission (FTC) announced the annual changes to the Hart-Scott-Rodino (HSR) Act notification thresholds. The FTC is required to revise the jurisdictional thresholds annually, based on the…more
FTC, Hart-Scott-Rodino Act, Size of Persons Test, Size of Transaction Test, Threshhold Requirements
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See All Updates »
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Russia's recent accession to the WTO has the potential to bring numerous benefits to Russian exporters. Membership will result in improved access for Russian exports in foreign markets — including the EU, the United States and…more
WTO
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See All Updates »
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On May 9, 2013, Georgia Congressman Hank Johnson introduced the Application Privacy, Protection and Security Act of 2013 (the "Apps Act"), a bill "[t]o provide for greater transparency in and user control over the treatment of…more
App Developers, APPS Act, Data Protection, FTC, Mobile Apps
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See All Updates »
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A dynamic market -
Russia is a dynamic, developing growth market, with a constantly changing legal environment. Right now Russia is seeing an upturn of activity in corporate transactions of all kinds: mergers and…more
Enforcement, Foreign Investment, Foreign Jurisdictions, Joint Venture, Public Listing
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See All Updates »
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In summer 2012, two important judgments were handed down on cases relating to bond consent solicitations. Although the consent solicitation techniques proposed by the debtor companies in each case were markedly different, at…more
Bonds, Consent Solicitations, Creditors, Debtors, Foreign Sovereigns
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See All Updates »
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Firing an employee in the United States can be a challenge. Group firings—reductions in-force — can be an even bigger challenge. And from the point of view of a multinational headquartered in the United States, overseas…more
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See All Updates »
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On January 10, 2013, the Federal Trade Commission (FTC) announced the annual changes to the Hart-Scott-Rodino (HSR) Act notification thresholds. The FTC is required to revise the jurisdictional thresholds annually, based on the…more
FTC, Hart-Scott-Rodino Act, Size of Persons Test, Size of Transaction Test, Threshhold Requirements
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See All Updates »
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Summary -
On 16 April 2013, the Court of Justice of the European Union (“ECJ”) handed down its judgment in Joined Cases C-274/11 and 295/11 in which it dismissed the challenges brought by Spain and Italy to the other 25…more
Coopertive Patent Classification System, EU, European Court of Justice, Patents, Unified Patent Court
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See All Updates »
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Italian Law No. 228 dated December 24, 2012, which approved the 2013 budget, contemplates, among others, a new tax applicable to certain financial transactions (the “Tobin Tax”).
The Tobin Tax will apply to transactions,…more
Buyers, Derivatives, Duties, Foreign Banks, High Frequency Trading
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See All Updates »
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On March 7, 2013, the Financial Services Agency of Japan (the “Japan FSA”) announced that it is considering amending certain aspects of the existing rules and regulations governing short sales by November 2013. This Client Alert…more
Japan FSA, Short Sales, Triggering Event, Uptick Rule
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See All Updates »
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In This Issue:
- Energy Highlights
- Just the Facts: FERC Dismisses Third-Party Complaint of Alleged Reliability Standards Violations Due to an Insufficient Evidentiary Record
- FERC Holds a Firm Line on…more
FERC, Mitigation
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See All Updates »
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On January 10, 2013, the Federal Trade Commission (FTC) announced the annual changes to the Hart-Scott-Rodino (HSR) Act notification thresholds. The FTC is required to revise the jurisdictional thresholds annually, based on the…more
FTC, Hart-Scott-Rodino Act, Size of Persons Test, Size of Transaction Test, Threshhold Requirements
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See All Updates »
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The Supreme Court ruled in Kirtsaeng v. John Wiley & Sons, Inc. that copyright law does not prohibit the unauthorized importation and sale of copyrighted goods manufactured outside the United States. This decision, which…more
Copyright, Exports, First Sale Doctrine, Grey Market, Imports
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See All Updates »
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The upcoming 2013 proxy season will likely be impacted by new policies issued by proxy advisers, as well as shareholder activists taking advantage of previously adopted rules, rather than by recent legislative or rulemaking…more
Board of Directors, CEOs, Clawback Agreements, Compensation Committee, Conflict Mineral Rules
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See All Updates »
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A dynamic market -
Russia is a dynamic, developing growth market, with a constantly changing legal environment. Right now Russia is seeing an upturn of activity in corporate transactions of all kinds: mergers and…more
Enforcement, Foreign Investment, Foreign Jurisdictions, Joint Venture, Public Listing
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See All Updates »
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Below are brief summaries of the agenda items for the Federal Energy Regulatory Commission’s May 16, 2013 meeting, pursuant to the agenda as issued on May 9, 2013. Agenda items E-3, E-13, E-17 have not been summarized as they…more
FERC, Geomagnetic Storms, Oil & Gas, Water
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See All Updates »
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On December 18, 2012, the US Commodity Futures Trading Commission’s (the “Commission”) approved interim final rules (the “Interim Final Rules”) for swap dealers (“SDs”) and major swap participants (“MSPs”) that delay compliance…more
CFTC, Dodd-Frank, Major Swap Participants, Required Documentation, Swap Dealers
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See All Updates »
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A recent advisory opinion from the New York State Department of Taxation and Finance concludes that payments received by an individual nonresident of New York in settlement of his benefits under two nonqualified deferred…more
Deferred Compensation, Exemptions, Payment Plans, Residency Status, State Taxes
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See All Updates »
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On March 7, 2013, the Financial Services Agency of Japan (the “Japan FSA”) announced that it is considering amending certain aspects of the existing rules and regulations governing short sales by November 2013. This Client Alert…more
Japan FSA, Short Sales, Triggering Event, Uptick Rule
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See All Updates »
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On May 10, 2013, the Federal Circuit issued deeply divided opinions on the standards to be applied to determine patent eligibility of software and business method patents, further opening the door to challenges of such patents…more
CLS Bank, CLS Bank v Alice Corp, Patent-Eligible Subject Matter, Patents
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See All Updates »
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In Gabelli v. SEC, 568 US ___ (2013), a unanimous Supreme Court reversed the Second Circuit and held that the five-year statute of limitations for Government civil penalty enforcement actions under 28 U.S.C. §2642 begins to run…more
Discovery Rule, Fraud, Gabelli v SEC, SCOTUS, SEC
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See All Updates »
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|
In summer 2012, two important judgments were handed down on cases relating to bond consent solicitations. Although the consent solicitation techniques proposed by the debtor companies in each case were markedly different, at…more
Bonds, Consent Solicitations, Creditors, Debtors, Foreign Sovereigns
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See All Updates »
|
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In This Issue:
- Energy Highlights
- Just the Facts: FERC Dismisses Third-Party Complaint of Alleged Reliability Standards Violations Due to an Insufficient Evidentiary Record
- FERC Holds a Firm Line on…more
FERC, Mitigation
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See All Updates »
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The Supreme Court this week handed down judgment in the case of R (on the application of Prudential plc and another) v Special Commissioner of Income Tax and another, confirming that legal advice privilege does not extend to…more
Accountants, EU, Legal Advice Privilege, Tax Advice
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See All Updates »
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“Application of the [EU] emissions trading scheme to aviation infringes neither the principles of customary international law at issue nor the Open Skies Agreement”.
This was the judgment of the European Court of…more
Airlines, Aviation, EU, EU ETS, Greenhouse Gas Emissions
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See All Updates »
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Italian Law No. 228 dated December 24, 2012, which approved the 2013 budget, contemplates, among others, a new tax applicable to certain financial transactions (the “Tobin Tax”).
The Tobin Tax will apply to transactions,…more
Buyers, Derivatives, Duties, Foreign Banks, High Frequency Trading
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See All Updates »
|
|
The upcoming 2013 proxy season will likely be impacted by new policies issued by proxy advisers, as well as shareholder activists taking advantage of previously adopted rules, rather than by recent legislative or rulemaking…more
Board of Directors, CEOs, Clawback Agreements, Compensation Committee, Conflict Mineral Rules
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See All Updates »
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On 3 December 2012, the UK Government published its response to a consultation paper on the Chancellor’s proposal for implementing a new “employee shareholder” status. Whilst acknowledging that only “a very small number of…more
BIS, Capital Gains, Employee Rights, Employee Shareholders, EU
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See All Updates »
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Two recent cases in the English courts have focused on important issues for employers of senior and highly remunerated employees, particularly those in the financial services sector where payments under incentive plans are often…more
Breach of Contract, Employment Terms, EU, Forfeiture, Hiring & Firing
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See All Updates »
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Regulation FD -
Regulation FD prohibits US public companies or persons acting on their behalf from selectively disclosing material, nonpublic information to securities professionals or investors when it is reasonably…more
Disclosure Requirements, Information Sharing, Netflix, Regulation FD, SEC
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See All Updates »
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On January 3, 2013, President Obama signed the American Taxpayer Relief Act of 2012 into law. As a result, for the first time in over 12 years, there is now some certainty in the Federal estate tax, the Federal gift tax and the…more
American Taxpayer Relief Act, Estate Tax, Generation-Skipping Transfer, Gift-Tax Exemption, Portability
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See All Updates »
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Regulation FD -
Regulation FD prohibits US public companies or persons acting on their behalf from selectively disclosing material, nonpublic information to securities professionals or investors when it is reasonably…more
Disclosure Requirements, Information Sharing, Netflix, Regulation FD, SEC
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See All Updates »
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Summary -
On 16 April 2013, the Court of Justice of the European Union (“ECJ”) handed down its judgment in Joined Cases C-274/11 and 295/11 in which it dismissed the challenges brought by Spain and Italy to the other 25…more
Coopertive Patent Classification System, EU, European Court of Justice, Patents, Unified Patent Court
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See All Updates »
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Summary -
On 16 April 2013, the Court of Justice of the European Union (“ECJ”) handed down its judgment in Joined Cases C-274/11 and 295/11 in which it dismissed the challenges brought by Spain and Italy to the other 25…more
Coopertive Patent Classification System, EU, European Court of Justice, Patents, Unified Patent Court
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See All Updates »
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On 16 March 2013, new regulations came into force in relation to the Late Payment of Commercial Debts (Interest) Act.
Enacted to incorporate a recent EU Directive, these new regulations introduce a maximum payment period…more
Commercial Contracts, Debt, EU, Late Payments
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See All Updates »
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On November 21, 2012, China’s State Administration of Foreign Exchange (“SAFE”) released a new circular, “Circular on Further Improvement and Amendment of Foreign Exchange Control Policies on Direct Investment ([2012] No. 59),”…more
China, Foreign Investment, SAFE
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See All Updates »
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Since the Second Circuit decided Filártiga v. Pena-Irala in 1980, plaintiffs have deployed the Alien Tort Statute (“ATS”) to great effect against multinational corporations. The statute — which had lain dormant since 1789 — has…more
Alien Tort Statute, Extraterritoriality Rules, Kiobel v. Royal Dutch Petroleum Co., Royal Dutch Petroleum
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See All Updates »
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In Gabelli v. SEC, 568 US ___ (2013), a unanimous Supreme Court reversed the Second Circuit and held that the five-year statute of limitations for Government civil penalty enforcement actions under 28 U.S.C. §2642 begins to run…more
Discovery Rule, Fraud, Gabelli v SEC, SCOTUS, SEC
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See All Updates »
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Judicial cross border litigation and/or international arbitration proceedings reveal two distinct systems: common law systems allow a comprehensive collection and disclosure of all existing documents leading to admissible…more
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See All Updates »
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The European Economic and Monetary Affairs Council has approved amendments to the Brussels Regulation (EC Regulation 44/2001 on jurisdiction and the recognition and enforcement of judgments in civil and commercial…more
Arbitration, Arbitration Agreements, EU, Foreign Judgments, Jurisdiction
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See All Updates »
|
|
On February 28, 2013, India’s Finance Minister presented the country’s budget for the fiscal year beginning April 1, 2013 (Budget). The Budget includes several proposals that affect international investors investing in India,…more
Business Taxes, Foreign Investment, GAAR, Royalties, Tax-Residency Certificate
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See All Updates »
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In This Issue:
- Congress Keeps Wind Credit Alive, Adds New “Begin Construction” Requirement
- FERC Approves NERC’s “Bright-Line” BES; Revised Rules of Procedure
- Exercising Its Muscle—Enforcement Actions by the…more
Department of Energy, Enforcement Actions, Exports, FERC, Liquid Natural Gas
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See All Updates »
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Introduction -
On 6 December 2012, the European Court of Justice (the “ECJ”) upheld the judgment of the General Court (“GC”), which found that AstraZeneca (“AZ”) abused its dominant position on the market for proton pump…more
Competition, European Commission, Patents, Pharmaceutical
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See All Updates »
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In Gabelli v. SEC, 568 US ___ (2013), a unanimous Supreme Court reversed the Second Circuit and held that the five-year statute of limitations for Government civil penalty enforcement actions under 28 U.S.C. §2642 begins to run…more
Discovery Rule, Fraud, Gabelli v SEC, SCOTUS, SEC
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See All Updates »
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Introduction - On March 19, 2013, in a 6-3 decision, the Supreme Court issued its opinion in Kirtsaeng v. John Wiley & Sons, Inc., holding that the copyright "first sale" doctrine applies to copies of works manufactured outside…more
Copyright, Copyright Infringement, First Sale Doctrine, Kirtsaeng v. John Wiley & Sons, SCOTUS
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See All Updates »
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Protecting and enforcing trade secrets in the United States has historically been challenging. Recent amendments to the Economic Espionage Act of 1996 (the "EEA"), which criminalizes theft of trade secrets, broaden the scope of…more
Attorney Generals, Economic Espionage Act, Misappropriation, Theft, Trade Secrets
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See All Updates »
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Judicial cross border litigation and/or international arbitration proceedings reveal two distinct systems: common law systems allow a comprehensive collection and disclosure of all existing documents leading to admissible…more
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See All Updates »
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At long last, Glencore has overcome the final regulatory hurdle and secured the approval of China’s Ministry of Commerce (MOFCOM) to acquire the 66 percent of Xstrata that it does not already own. But not before agreeing to part…more
China, Glencore, MOFCOM, Xstrata
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See All Updates »
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In This Issue:
*Chemicals:
- Commission adds eight substances to REACH authorisation list
*Climate Change:
- European Parliament opposes “backloading” proposal for ETS allowances
- Council…more
Climate Change, Disaster Preparedness, Emissions Trading System, Endangered Species, Environmental Claims
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See All Updates »
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On January 3, 2013, President Obama signed the American Taxpayer Relief Act of 2012 into law. As a result, for the first time in over 12 years, there is now some certainty in the Federal estate tax, the Federal gift tax and the…more
American Taxpayer Relief Act, Estate Tax, Generation-Skipping Transfer, Gift-Tax Exemption, Portability
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See All Updates »
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On February 28, 2013, India’s Finance Minister presented the country’s budget for the fiscal year beginning April 1, 2013 (Budget). The Budget includes several proposals that affect international investors investing in India,…more
Business Taxes, Foreign Investment, GAAR, Royalties, Tax-Residency Certificate
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See All Updates »
|
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In Gabelli v. SEC, 568 US ___ (2013), a unanimous Supreme Court reversed the Second Circuit and held that the five-year statute of limitations for Government civil penalty enforcement actions under 28 U.S.C. §2642 begins to run…more
Discovery Rule, Fraud, Gabelli v SEC, SCOTUS, SEC
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See All Updates »
|
|
On May 10, 2013, the Federal Circuit issued deeply divided opinions on the standards to be applied to determine patent eligibility of software and business method patents, further opening the door to challenges of such patents…more
CLS Bank, CLS Bank v Alice Corp, Patent-Eligible Subject Matter, Patents
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See All Updates »
|
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Russia's recent accession to the WTO has the potential to bring numerous benefits to Russian exporters. Membership will result in improved access for Russian exports in foreign markets — including the EU, the United States and…more
WTO
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See All Updates »
|
|
In a judgment handed down today, in a preliminary reference from the Irish Supreme Court, in Thomas Pringle v The Government of Ireland, Ireland and the Attorney General (Case C-370/12), the Court of Justice of the European…more
European Stability Mechanism
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See All Updates »
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The introduction by the US of the Foreign Account Tax Compliance Act 2010 (FATCA) set the proverbial cat amongst the pigeons in the international loan financing markets by requiring foreign and domestic borrowers, lenders and…more
Borrowers, FATCA, FFI, Intergovernmental Agreements, IRS
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See All Updates »
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A New York state court has ruled that a DMCA safe harbor does not protect internet services from claims they infringe pre-1972 sound recordings. The decision, UMG Recordings v. Escape Media Group, creates new uncertainty and…more
Copyright, Copyright Infringement, DCMA, Internet Service Providers, Safe Harbors
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See All Updates »
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The Department of Housing and Urban Development (HUD) recently issued a new rule to formalize a national standard for determining whether a housing practice violates the Fair Housing Act (FHA) as the result of a discriminatory…more
Burden-Shifting, Discrimination, Discriminatory Effects Rule, FHA, HUD
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See All Updates »
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In This Issue:
- Congress Keeps Wind Credit Alive, Adds New “Begin Construction” Requirement
- FERC Approves NERC’s “Bright-Line” BES; Revised Rules of Procedure
- Exercising Its Muscle—Enforcement Actions by the…more
Department of Energy, Enforcement Actions, Exports, FERC, Liquid Natural Gas
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See All Updates »
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In This Issue:
- Congress Keeps Wind Credit Alive, Adds New “Begin Construction” Requirement
- FERC Approves NERC’s “Bright-Line” BES; Revised Rules of Procedure
- Exercising Its Muscle—Enforcement Actions by the…more
Department of Energy, Enforcement Actions, Exports, FERC, Liquid Natural Gas
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See All Updates »
|
|
The Supreme Court ruled in Kirtsaeng v. John Wiley & Sons, Inc. that copyright law does not prohibit the unauthorized importation and sale of copyrighted goods manufactured outside the United States. This decision, which…more
Copyright, Exports, First Sale Doctrine, Grey Market, Imports
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See All Updates »
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The introduction by the US of the Foreign Account Tax Compliance Act 2010 (FATCA) set the proverbial cat amongst the pigeons in the international loan financing markets by requiring foreign and domestic borrowers, lenders and…more
Borrowers, FATCA, FFI, Intergovernmental Agreements, IRS
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See All Updates »
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Introduction -
On January 17, 2013, the Department of the Treasury (“the Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (the “Regulations”) under Sections 1471 through 1474 of the…more
Capital Markets, Documentation, Exemptions, FATCA, Foreign Banks
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On February 28, 2013, India’s Finance Minister presented the country’s budget for the fiscal year beginning April 1, 2013 (Budget). The Budget includes several proposals that affect international investors investing in India,…more
Business Taxes, Foreign Investment, GAAR, Royalties, Tax-Residency Certificate
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I. Introduction -
The EU has updated its sanctions measures against Burma/Myanmar, Syria, North Korea and Libya.
For Burma/Myanmar, the Council has decided to lift all economic sanctions, while keeping the…more
EU, Frozen Assets, Sanctions, United Nations
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Below are brief summaries of the agenda items for the Federal Energy Regulatory Commission’s May 16, 2013 meeting, pursuant to the agenda as issued on May 9, 2013. Agenda items E-3, E-13, E-17 have not been summarized as they…more
FERC, Geomagnetic Storms, Oil & Gas, Water
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On March 7, 2013, the Financial Services Agency of Japan (the “Japan FSA”) announced that it is considering amending certain aspects of the existing rules and regulations governing short sales by November 2013. This Client Alert…more
Japan FSA, Short Sales, Triggering Event, Uptick Rule
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Summary -
On January 31, 2013, the Ministry of National Planning and Economic Development released the new Implementing Regulations for the Myanmar Foreign Investment Law No. 21 (FIL No. 21). President U Thein Sein signed…more
Foreign Investment, Notice Requirements, Sanctions
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On January 3, 2013, President Obama signed the American Taxpayer Relief Act of 2012 into law. As a result, for the first time in over 12 years, there is now some certainty in the Federal estate tax, the Federal gift tax and the…more
American Taxpayer Relief Act, Estate Tax, Generation-Skipping Transfer, Gift-Tax Exemption, Portability
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On May 9, 2013, Georgia Congressman Hank Johnson introduced the Application Privacy, Protection and Security Act of 2013 (the "Apps Act"), a bill "[t]o provide for greater transparency in and user control over the treatment of…more
App Developers, APPS Act, Data Protection, FTC, Mobile Apps
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After more than five years of litigation between Cukurova of Turkey and Alfa of Russia, the Privy Council has delivered a pivotal ruling in Cukurova’s favour. The decision establishes that a borrower may be entitled to equitable…more
Borrowers, Collateralized Debt Obligations, Debt, Equitable Relief, EU
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An insured federal depository institution may request a transition period to comply with the “push-out” requirements of section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”)…more
Compliance, Dodd-Frank, FDIC, Federal Reserve, OCC
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On January 10, 2013, the Federal Trade Commission (FTC) announced the annual changes to the Hart-Scott-Rodino (HSR) Act notification thresholds. The FTC is required to revise the jurisdictional thresholds annually, based on the…more
FTC, Hart-Scott-Rodino Act, Size of Persons Test, Size of Transaction Test, Threshhold Requirements
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Since the Second Circuit decided Filártiga v. Pena-Irala in 1980, plaintiffs have deployed the Alien Tort Statute (“ATS”) to great effect against multinational corporations. The statute — which had lain dormant since 1789 — has…more
Alien Tort Statute, Extraterritoriality Rules, Kiobel v. Royal Dutch Petroleum Co., Royal Dutch Petroleum
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In summer 2012, two important judgments were handed down on cases relating to bond consent solicitations. Although the consent solicitation techniques proposed by the debtor companies in each case were markedly different, at…more
Bonds, Consent Solicitations, Creditors, Debtors, Foreign Sovereigns
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Originally published in Bio-Science Law Review - November 2012.
On 20 March 2012, in Mayo Collaborative Servs v Prometheus Labs, Inc., the Supreme Court of the United States invalidated diagnostic treatment process…more
Mayo v. Prometheus, Myriad, Patents
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I. Introduction -
Take-or-pay provisions are now fairly common in long-term offtake and supply agreements in the energy sector, a notable example being gas supply agreements.
In essence, take-or-pay provisions…more
EU, Oil & Gas, Project Finance, Revenue, Supply Contracts
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Summary -
On 16 April 2013, the Court of Justice of the European Union (“ECJ”) handed down its judgment in Joined Cases C-274/11 and 295/11 in which it dismissed the challenges brought by Spain and Italy to the other 25…more
Coopertive Patent Classification System, EU, European Court of Justice, Patents, Unified Patent Court
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On 3 December 2012, the UK Government published its response to a consultation paper on the Chancellor’s proposal for implementing a new “employee shareholder” status. Whilst acknowledging that only “a very small number of…more
BIS, Capital Gains, Employee Rights, Employee Shareholders, EU
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The UK’s Financial Services Act 2012 (the Act) will come into force on 1 April 2013. On implementation, the Act will amend many of the UK’s existing financial services legislative measures and give effect to several of the…more
EU, European Commission, Financial Conduct Authority, Financial Services Act, Financial Services Authority
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The Supreme Court last week issued its judgment in The Financial Services Authority v. Sinaloa Gold plc (and others) and Barclays Bank plc1. The decision confirms that, whereas private parties seeking an injunction must normally…more
Barclays, Damages, Financial Services Authority, Injunctions, SCOTUS
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On December 18, 2012, the US Commodity Futures Trading Commission’s (the “Commission”) approved interim final rules (the “Interim Final Rules”) for swap dealers (“SDs”) and major swap participants (“MSPs”) that delay compliance…more
CFTC, Dodd-Frank, Major Swap Participants, Required Documentation, Swap Dealers
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In This Issue:
- Energy Highlights
- Just the Facts: FERC Dismisses Third-Party Complaint of Alleged Reliability Standards Violations Due to an Insufficient Evidentiary Record
- FERC Holds a Firm Line on…more
FERC, Mitigation
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On January 3, 2013, President Obama signed the American Taxpayer Relief Act of 2012 into law. As a result, for the first time in over 12 years, there is now some certainty in the Federal estate tax, the Federal gift tax and the…more
American Taxpayer Relief Act, Estate Tax, Generation-Skipping Transfer, Gift-Tax Exemption, Portability
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See All Updates »
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Regulation FD -
Regulation FD prohibits US public companies or persons acting on their behalf from selectively disclosing material, nonpublic information to securities professionals or investors when it is reasonably…more
Disclosure Requirements, Information Sharing, Netflix, Regulation FD, SEC
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Russia's recent accession to the WTO has the potential to bring numerous benefits to Russian exporters. Membership will result in improved access for Russian exports in foreign markets — including the EU, the United States and…more
WTO
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Summary -
On 16 April 2013, the Court of Justice of the European Union (“ECJ”) handed down its judgment in Joined Cases C-274/11 and 295/11 in which it dismissed the challenges brought by Spain and Italy to the other 25…more
Coopertive Patent Classification System, EU, European Court of Justice, Patents, Unified Patent Court
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See All Updates »
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Russia's recent accession to the WTO has the potential to bring numerous benefits to Russian exporters. Membership will result in improved access for Russian exports in foreign markets — including the EU, the United States and…more
WTO
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Italian Law No. 228 dated December 24, 2012, which approved the 2013 budget, contemplates, among others, a new tax applicable to certain financial transactions (the “Tobin Tax”).
The Tobin Tax will apply to transactions,…more
Buyers, Derivatives, Duties, Foreign Banks, High Frequency Trading
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Russia's recent accession to the WTO has the potential to bring numerous benefits to Russian exporters. Membership will result in improved access for Russian exports in foreign markets — including the EU, the United States and…more
WTO
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On 16 March 2013, new regulations came into force in relation to the Late Payment of Commercial Debts (Interest) Act.
Enacted to incorporate a recent EU Directive, these new regulations introduce a maximum payment period…more
Commercial Contracts, Debt, EU, Late Payments
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On February 28, 2013, India’s Finance Minister presented the country’s budget for the fiscal year beginning April 1, 2013 (Budget). The Budget includes several proposals that affect international investors investing in India,…more
Business Taxes, Foreign Investment, GAAR, Royalties, Tax-Residency Certificate
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See All Updates »
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The Internet Corporation for Assigned Names and Numbers ("ICANN") will be expanding the number of generic top-level domains ("gTLDs") as a result of the application process that commenced in January 2012. It is expected that…more
gTLD, ICANN, Trademark Clearinghouse, Trademarks
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The Department of Housing and Urban Development (HUD) recently issued a new rule to formalize a national standard for determining whether a housing practice violates the Fair Housing Act (FHA) as the result of a discriminatory…more
Burden-Shifting, Discrimination, Discriminatory Effects Rule, FHA, HUD
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In This Issue:
*Chemicals:
- Commission adds eight substances to REACH authorisation list
*Climate Change:
- European Parliament opposes “backloading” proposal for ETS allowances
- Council…more
Climate Change, Disaster Preparedness, Emissions Trading System, Endangered Species, Environmental Claims
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On February 12, 2013, President Obama signed an executive order for "Improving Critical Infrastructure Cybersecurity" (the "Executive Order"). The Executive Order seeks to promote information sharing between the government and…more
Barack Obama, CISPA, Critical Infrastructure Sectors, Cybersecurity, Executive Orders
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On November 21, 2012, China’s State Administration of Foreign Exchange (“SAFE”) released a new circular, “Circular on Further Improvement and Amendment of Foreign Exchange Control Policies on Direct Investment ([2012] No. 59),”…more
China, Foreign Investment, SAFE
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As many as 90% of pension plans and pension plan sponsors may soon have fewer “reportable events” to track and report to the Pension Benefit Guaranty Corporation (the “PBGC”), if certain proposed changes to the PBGC regulations…more
Benefit Plan Sponsors, ERISA, PBGC, Pensions, Proposed Amendments
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At long last, Glencore has overcome the final regulatory hurdle and secured the approval of China’s Ministry of Commerce (MOFCOM) to acquire the 66 percent of Xstrata that it does not already own. But not before agreeing to part…more
China, Glencore, MOFCOM, Xstrata
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Global Overview:
Continued aggressive cartel enforcement in 2012 Authorities around the world continued to vigorously enforce cartel law in 2012. Total fines increased in many jurisdictions, and authorities around the world…more
Appeals, Cartels, Class Action, Criminal Sanctions, DOJ
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On March 15, 2013, the United States Court of Appeals for the Federal Circuit ordered a rehearing en banc in Lighting Ballast Control, LLC v. Philips Elecs. N. Am. Corp, et al. This order sets the stage for a potential change in…more
Appeals, Claim Construction, Cybor Corp v FAS Technologies, Patents
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See All Updates »
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On November 21, 2012, China’s State Administration of Foreign Exchange (“SAFE”) released a new circular, “Circular on Further Improvement and Amendment of Foreign Exchange Control Policies on Direct Investment ([2012] No. 59),”…more
China, Foreign Investment, SAFE
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See All Updates »
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On December 18, 2012, the US Commodity Futures Trading Commission’s (the “Commission”) approved interim final rules (the “Interim Final Rules”) for swap dealers (“SDs”) and major swap participants (“MSPs”) that delay compliance…more
CFTC, Dodd-Frank, Major Swap Participants, Required Documentation, Swap Dealers
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See All Updates »
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I. Introduction -
The EU has updated its sanctions measures against Burma/Myanmar, Syria, North Korea and Libya.
For Burma/Myanmar, the Council has decided to lift all economic sanctions, while keeping the…more
EU, Frozen Assets, Sanctions, United Nations
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See All Updates »
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I. Introduction -
The EU has updated its sanctions measures against Burma/Myanmar, Syria, North Korea and Libya.
For Burma/Myanmar, the Council has decided to lift all economic sanctions, while keeping the…more
EU, Frozen Assets, Sanctions, United Nations
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See All Updates »
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Regulation FD -
Regulation FD prohibits US public companies or persons acting on their behalf from selectively disclosing material, nonpublic information to securities professionals or investors when it is reasonably…more
Disclosure Requirements, Information Sharing, Netflix, Regulation FD, SEC
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See All Updates »
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Summary -
On January 31, 2013, the Ministry of National Planning and Economic Development released the new Implementing Regulations for the Myanmar Foreign Investment Law No. 21 (FIL No. 21). President U Thein Sein signed…more
Foreign Investment, Notice Requirements, Sanctions
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See All Updates »
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The Department of Housing and Urban Development (HUD) recently issued a new rule to formalize a national standard for determining whether a housing practice violates the Fair Housing Act (FHA) as the result of a discriminatory…more
Burden-Shifting, Discrimination, Discriminatory Effects Rule, FHA, HUD
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See All Updates »
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On March 7, 2013, the Financial Services Agency of Japan (the “Japan FSA”) announced that it is considering amending certain aspects of the existing rules and regulations governing short sales by November 2013. This Client Alert…more
Japan FSA, Short Sales, Triggering Event, Uptick Rule
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See All Updates »
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On 29 December 2012, the French Parliament passed a long-awaited law that significantly extends the support of the French State for the export credit financing of aircraft with French content through COFACE, the French export…more
Aircraft Sales, COFACE, Credit Financing, Exports
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The UK’s Financial Services Act 2012 (the Act) will come into force on 1 April 2013. On implementation, the Act will amend many of the UK’s existing financial services legislative measures and give effect to several of the…more
EU, European Commission, Financial Conduct Authority, Financial Services Act, Financial Services Authority
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See All Updates »
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Since the Second Circuit decided Filártiga v. Pena-Irala in 1980, plaintiffs have deployed the Alien Tort Statute (“ATS”) to great effect against multinational corporations. The statute — which had lain dormant since 1789 — has…more
Alien Tort Statute, Extraterritoriality Rules, Kiobel v. Royal Dutch Petroleum Co., Royal Dutch Petroleum
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See All Updates »
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On March 15, 2013, the United States Court of Appeals for the Federal Circuit ordered a rehearing en banc in Lighting Ballast Control, LLC v. Philips Elecs. N. Am. Corp, et al. This order sets the stage for a potential change in…more
Appeals, Claim Construction, Cybor Corp v FAS Technologies, Patents
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See All Updates »
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In the space of a few days in mid-October, the Commodity Futures Trading Commission (the “CFTC”) published a number of Q&As and FAQs and the CFTC staff at the Division of Swap Dealer and Intermediary Oversight (the “Division”)…more
CFTC, No-Action Letters, Swap Dealers
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The Court of Appeal’s recent decision in Olympic Airlines SA (in special liquidation) v ACG Acquisition XX LLC [2013] EWCA Civ 369 gives welcome comfort to lessors that properly drafted Certificates of Acceptance will provide an…more
Airlines, Certificates of Acceptance, EU, Leases
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In the space of a few days in mid-October, the Commodity Futures Trading Commission (the “CFTC”) published a number of Q&As and FAQs and the CFTC staff at the Division of Swap Dealer and Intermediary Oversight (the “Division”)…more
CFTC, No-Action Letters, Swap Dealers
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This alert analyzes the legal positions taken by the Presidium of the Russian Federation Supreme Commercial Court (“SCC”) in its recently published review of commercial court practice in cases concerning the application of…more
Arbitration, Arbitration Awards, Enforcement, EU, International Arbitration
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On November 21, 2012, China’s State Administration of Foreign Exchange (“SAFE”) released a new circular, “Circular on Further Improvement and Amendment of Foreign Exchange Control Policies on Direct Investment ([2012] No. 59),”…more
China, Foreign Investment, SAFE
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See All Updates »
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The Board of Governors of the Federal Reserve System (“Board”) has devoted some time to considering how to address the potential threat to the financial stability of the United States posed by a foreign bank with banking…more
Bank Holding Company, Broker-Dealer, Capital Requirements, Dividends, Federal Reserve
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