The world is increasingly a global community, and this phenomenon is equally visible in sports as in the business and social arenas. With professional sports leagues spanning national borders in Major League Baseball, the...more
On 21 September 2020, the European Commission adopted a time-limited equivalence decision for UK clearinghouses (also referred to as central counterparties ("CCPs")) in view of EU financial stability considerations, which...more
The European Union’s financial regulatory regime for third-country access in many sectors relies on a framework of “equivalence,” whereby institutions based in approved non-EU countries with similar standards may have varying...more
Britain’s Prime Minister, Boris Johnson, secured victory in the December 2019 general election with a promise to “get Brexit done.” The UK duly left the European Union (EU) on 31 January, 2020, and the UK and the EU have...more
The European Securities and Markets Authority has published a letter it addressed to the European Commission about the technical advice that the Commission requested from ESMA on the general equivalence criteria to guide...more
HM Treasury has published a letter addressed to the Chair of the European Union Committee of the House of Lords concerning equivalence for financial services as a result of Brexit. In the letter, HM Treasury confirms that the...more
In Daneman v. Guardian Life Ins. Co. of Am., 2019 U.S. Dist. LEXIS 42881 (C.D. Cal. March 11, 2019), the U.S. District Court for the Central District of California held that an insurer's statement in a claim denial letter...more
HM Treasury has published the Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019, providing U.K. government ministers with a temporary power to make...more
A federal district court recently handed plan sponsors their first victory in a string of actuarial equivalence lawsuits filed against large defined benefit pension plans. Although the decision is a positive development for...more
Mere Potential for Future Appeal Does Not Prevent Triggering Estoppel of Inter Partes Reexamination When Party Fails to Seek Relief in the First Instance - In Virnetx Inc. v. Apple Inc., Appeal Nos. 2017-1591, -1592,...more
On September 19, 2019, FDA issued a guidance document, “Safety and Performance Based Pathway,” describing an optional pathway for medical devices with well-understood safety and performance profiles. The guidance signals...more
In a precedential decision involving the “doctrine of foreign equivalents,” the Board found no likelihood of confusion between the mark RICHARD MAGAZINE for a website in the field of fashion and lifestyle and the mark RICARDO...more
Two equivalence decisions under the EU Benchmark Regulation have been published in the Official Journal of the European Union. The first decision declares as equivalent to the EU regime the legal and supervisory framework of...more
A series of Implementing Decisions on the equivalence with the EU Credit Rating Agencies Regulation of the credit rating regimes of certain non-EU countries have been published in the Official Journal of the European Union....more
The European Commission has published a Communication on equivalence in the area of financial services, including an annex that briefly sets out the equivalence decisions adopted by the Commission since January 2018. The...more
At long last, tax-exempt schools, colleges, and universities can stop paying newspapers to annually publish their nondiscrimination policies, and instead satisfy the IRS publicity requirement by posting the policy on their...more
Health Canada released proposed Regulations Amending the Food and Drug Regulations (Improving Access to Generics) (“proposed Regulations”) on March 30, 2019. Comments may be submitted until June 8, 2019....more
The House of Commons recently rejected the Withdrawal Agreement. While the UK Parliament is still debating how to leave the EU, a hard Brexit remains an option. To prepare for this possibility, the UK, EU Commission and EU27...more
HM Treasury has laid before Parliament a draft of the Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019. The draft Regulations grant HM Treasury...more
SEC/CORPORATE - SEC-Proposed Amendments to Modernize, Simplify and Increase the Accessibility of Required Disclosure - As previously reported in the October 13, 2017 edition of Corporate & Financial Weekly Digest, on...more
On 14 September 2017, the IRS issued Revenue Procedure 2017-53, setting out the requirements for ‘preferred written advice’ upon which a US domestic private foundation can rely when making grants to non-US charities. This...more
The U.S. Internal Revenue Service (the “IRS”) plans to release a guidance package including final rules and transition relief for dividend equivalent transactions described in Section 871(m) of the U.S. Internal Revenue Code...more
Recent regulatory actions by the U.S. Commodity Futures Trading Commission (CFTC) and the European Commission (EC) are bringing an end to years of negotiation on how to regulate central clearing counterparties (CCPs)...more
On March 15, the European Commission (the Commission) adopted an equivalence decision in regards to US central counterparties (CCPs). The equivalence decision will allow CCPs authorized and registered with the Commodity...more
The beginning of a new year is often the impetus for change. For companies, this may mean a rebranding initiative involving an update to a company's house mark or logo. In 2015 several companies, including Google, Facebook,...more