Exemptions

News & Analysis as of

Congress Begins With Renewed Efforts to Repeal Insurer’s Antitrust Exemption

Early into the 114th Congress, multiple bills have already been introduced that would repeal the insurance industry’s limited antitrust exemption granted by the McCarran-Ferguson Act (15 USC 1011 et seq.)....more

CA Supreme Court Provides Key CEQA Guidance Regarding Categorical Exemptions

The California Supreme Court issued a long-awaited ruling regarding categorical exemptions under the California Environmental Quality Act (CEQA) reversing a court of appeal decision that would have sharply curtailed the use...more

Lapse into LASPO further delayed for insolvency practitioners

On Thursday 26th February, the Ministry of Justice announced that the insolvency exemption to sections 44 and 46 of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (‘LASPO’) will continue for the time being,...more

CEQA Alert: California Supreme Court Issues Long-Awaited Guidance on the “Unusual Circumstances” Exception to CEQA’s Categorical...

In its March 2 decision in Berkeley Hillside Preservation v. City of Berkeley (SC Case No. S201116), the California Supreme Court provides critical guidance to CEQA lead agencies and practitioners regarding the proper...more

Agencies Issue Guidance for Foreign Banking Entities on the Application of the Marketing Restriction for the Volcker Rule’s SOTUS...

On Friday, February 27, 2015, the Volcker Inter-Agency Group posted a new frequently asked question (FAQ 13), clarifying the scope of the so-called “marketing restriction” under the SOTUS covered fund exemption. The SOTUS...more

Still Exempt? Important Changes to the Private Placement Regime

On February 19, 2015, the Canadian Securities Administrators (CSA) and Ontario Securities Commission (OSC) announced significant amendments to National Instrument 45-106 Prospectus and Registration Exemptions (NI 45-106) and...more

Pay-to-Play Lessons from New Jersey’s State Investment Council Rules

New Jersey is often thought of as the “pay-to-play” state – primarily because we have five separate statewide pay-to-play prohibition laws in effect (covering state procurement, county procurement, local procurement, state...more

Ninth Circuit: Spousal Consent Not Required Under Top-Hat Plans

The Ninth Circuit held that a participant’s brother, rather than his spouse, was the proper beneficiary of benefits under a profit sharing plan. In so holding, the Court found that: (a) the participant’s first wife, who was...more

Good News for Commercial Credit Providers – EDR Exemption to Continue

The Attorney- General's Department has announced that the exemption for commercial credit providers (CCPs) from the external dispute resolution (EDR) membership obligation should continue indefinitely. As advised in our Legal...more

White Collar Overtime Exemption Overhaul May Include Big Increase in Minimum Salary Requirements

Last year, President Obama directed the Department of Labor to review and update its so-called “white collar” overtime and minimum wage exemption regulations. The rules apply to executive, administrative and professional...more

Attempt to Extend Minimum Wage and Overtime to Home Care Workers Overruled by Court

In October 2013, the Department of Labor's (DOL) new rule extending minimum wage and overtime protections to the nation’s nearly two million home-care workers prompted controversy over the Department's authority to reverse...more

Happy New Year from the DC District Court - Companionship Exemption Lives On!! - EndNotes February 2015

Home care patients, caregivers and the entire home care community celebrated a huge victory to kick off 2015. The U.S. District Court for the District of Columbia (DC court) vacated the U.S. Department of Labor’s (DOL’s)...more

U.S. Commodity Futures Trading Commission Grants Relief From Commodity Pool Operator Obligations Concerning Insurance-Linked...

In CFTC Letter No. 14-145 Exemption (November 12, 2014) and CFTC Letter No. 14-152 No-Action (December 18, 2014), the U.S. Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO)...more

Blocking the Finish Line: Does the FLSA Exemption for Amusement and Recreational Establishments Apply to Marathons?

Several years ago, at one of the numerous race events that have become immensely popular in the last handful of years, a race “volunteer” provided a bike escort, so that the elite runners at a half-marathon race in St. Louis...more

CFTC 4.13(a)(3) Annual Affirmations Due March 2

As a reminder, fund managers relying on the exemption from registration with the US Commodity Futures Trading Commission (the “CFTC”) set forth in Rule 4.13(a)(3), commonly referred to as the “de minimis exemption,” must...more

CEQA Year In Review 2014: A Summary Of Published Appellate Opinions And Legislation Under CEQA

In This Issue: - When Does CEQA Apply? - Exemptions from CEQA - Negative Declarations - Environmental Impact Reports - Certified Regulatory Programs - Supplemental CEQA...more

Commissioner Ponders Whether To Exempt Real Estate Brokers From Investment Adviser Registration

Last week, the Commissioner of Business Oversight issued an invitation for comment on whether to exempt real estate brokers from the investment adviser certification requirement under the Corporate Securities Law of 1968....more

SHREDDING TRADE SECRETS: Heli-Ski Operators Fret over FOIA Disclosures Releasing a Blizzard of Confidential Information

Heli-skiing: it’s the holy grail for thrill-seeking skiers and snowboarders.   Ride to the roof of the world aboard a helicopter. Descend thousands of vertical feet through fresh, untracked powder.  No lift lines, no ski...more

Illinois District Court Holds That a Plan Maintained by a Religiously Affiliated Organization Is Not a Church Plan

The United States District Court for the Northern District of Illinois recently had the opportunity to weigh in on the issue of whether a religiously affiliated employer was exempt from federal regulation of its employee...more

City of San Jose "Strikes Out" in Case Against MLB

Baseball holds a special place in America’s heart, but it also holds a special place in our judicial system when it comes to federal antitrust law. Unlike other professional sports, such as football, hockey, and basketball,...more

Model Rule Exempting M&A Brokers Proposed by NASAA

The Broker-Dealer section of the North American Securities Administrators Association (NASAA) has proposed a model uniform state rule (the “Model Rule”) that would exempt parties that act only as deal brokers in M&A...more

Potential Tax Changes Ahead for Pennsylvania Nonprofits

Pennsylvania charities that rely on exemptions from real property tax and sales and use tax may have good reason to be concerned. A recently released special report prepared by the Pennsylvania Auditor General quantifying...more

Employing Veterans May Help Avoid the ACA’s Employer Mandate

The new Republican Congress began its session with an attempt to narrow the Affordable Care Act’s (ACA) employer mandate by exempting certain veterans and their families from counting toward the number of employees at small...more

Wage and Hour Basics Series: The FLSA Overtime Exemptions

While we regularly discuss many of the nuances of wage and hour law generally and the Fair Labor Standards Act in particular here on the blog— it is also important to focus on the basics. Periodically over the next several...more

New Legislation Exempts Swap End Users From Margin Requirements

The House and Senate have passed legislation which provides that swap end-users do not have to provide initial and variation margin for uncleared swaps as previously required by the Dodd-Frank Act. The provision is...more

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