The Basics of Michigan’s Social Media Password Law & Why It Isn’t Such a Great Idea
The U.S. Securities and Exchange Commission (SEC or Commission) on June 5, 2013 proposed for public comment sweeping amendments to Rule 2a-7 under the Investment Company Act of 1940 and other rules relating to money market...more
The Commodity Futures Trading Commission recently adopted regulations relating to the clearing exemption for swaps between certain affiliated entities. Pursuant to the final regulations, the clearing exemption is available to...more
Allowing Canadian investors to participate in a global rights offering is easier than you think. There are two relatively simple approaches....more
The United States Court of Appeals for the Second Circuit held, on June 10, 2013, that payments made by a company to purchase notes issued by an affiliate were transfers made in connection with a “securities contract,” and...more
The below flowchart may be helpful to you in answering the question whether you qualify for the exemption for “venture capital funds” under Section 203(l) of the Investment Adviser’s Act of 1940 ( the “Advisers Act”),...more
Following concerns raised by bloggers, the UK government has clarified that small blogs will be exempt from the scope of the new UK press watchdog which is to be introduced as a result of the findings of the Leveson Inquiry....more
On May 23, the Federal Reserve Board issued a report showing that the exemption designed to protect small debit card issuers from interchange fee standards applied to large issuers is working as intended. ...more
From 22 July 2013, the Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive”) and the supplementary level 2 Regulation (EU) No 231/2013 (the “Regulation”) will come into effect. This legislation will...more
Does the State of Illinois have to pay elected officials' attorney fees when the underlying complaint alleges that the official committed "intentional, willful or wanton misconduct"? Earlier this month, a unanimous Illinois...more
Vermont recently provided an exemption from the requirement that mortgage brokers provide a mortgage broker agreement in instances where the broker acts as an independent contractor loan processor or underwriter for a...more
On May 20, the U.S. Court of Appeals for the Sixth Circuit overturned a district court decision and held that Fannie Mae and Freddie Mac are exempt from state and local real estate transfer taxes. ...more
According to its statutory mandate to periodically review and revise its rules, the Illinois Health Facilities and Services Review Board has amended Part 1130 of its rules, which govern the Board's procedural processes, now...more
Charter school managers and officials should be aware that the Executive Director of Pennsylvania’s Office of Open Records has recently made public statements criticizing charter schools that take the position that they...more
On Tuesday, May 14, 2013, Governor Dayton signed into law a bill legalizing same-sex marriage in Minnesota (H.F. 1054 and S.F. 925), effective August 1, 2013....more
In the first of a series of WSGR Alerts, the firm's Brussels attorneys outline the European Commission's proposed changes to the antitrust rules on licensing patents, software, know-how, and other intellectual property....more
Artistotle didn’t think much of the idea of paying interest: (“As this is so, usury is most reasonably hated, because its gain comes from money itself and not from that for the sake of which money was invented. For...more
On March 8, 2013, the Ontario Securities Commission (OSC) closed the comment period on its Staff Consultation Paper 45-710: Considerations for New Capital Raising Prospectus Exemptions (the Consultation Paper), which sought...more
If at first you don't succeed, try and try again. That is what the New York City Council (the Council) has done since 2009. And after four years, the result is a controversial sick leave law, the Earned Sick Time Act (the...more
With Spring comes the emergence of many things, including reopening of decks, porches, sidewalk cafés, patios and other outdoor seating options. It’s a lovely idea to have music or other entertainment in these areas, whether...more
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
The formation of a subsidiary under the laws of a foreign country may not seem to implicate the California Corporate Securities Law. Yet, an offer and sale may occur “in this state” within the meaning of Corporations Code...more
A number of well-known restaurant chains have been hit with lawsuits over the last few years alleging that their exempt managers or assistant managers were indeed non-exempt and therefore should have been paid overtime. ...more
An employer may prorate the base pay of a salaried employee without forfeiting the employee's exemption from the overtime requirements of the Fair Labor Standards Act (FLSA), as long as it covers the shortfall with additional...more
In 2008, the Wisconsin Tax Appeals Commission ruled that the following categories of computerized medical equipment are exempt from property tax: - Ultrasound equipment - Magnetic resonance imaging (MRI)...more
In April, the U.S. Labor Department (DOL) is scheduled to announce regulations that will almost certainly increase the cost of employing individuals as home care aides who are considered “companions” under the Fair Labor...more
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