Fees

News & Analysis as of

FY2017 Budget Proposal Sets Its Sights on Insurance Companies

On February 9, the Obama Administration released its fiscal year 2017 budget proposal (FY2017 Budget). Many of the tax proposals included in the FY2017 Budget closely follow those included in the President’s fiscal year 2016...more

Recent Eleventh Circuit Reversal Sparks Upward Trend in Estimated-Fee FDCPA Litigation

On December 3, 2015, the Eleventh Circuit issued an opinion that has carved a path for plaintiffs challenging their communications with loan servicers. The decision, Prescott v. Seterus, Inc., reversed a grant of summary...more

The Big 401(k) Issue Many Don’t Focus On

The fixation and discussion about plan expenses usually flares up when the stock market isn’t doing well. Two major corrections within a 10-year period (2000-2010) made fee disclosure regulations inevitable.  With the way the...more

PEG Fees Set by Ordinance Under California Video Franchise Law Are Not Taxes Subject to Prop. 26

State AG Opinion Could Positively Impact Many Local Governments - The referendum requirements of Proposition 26 do not apply to public, educational and governmental access fees established by local ordinance pursuant to...more

UK Financial Regulatory Developments - January 2016 #9

FCA updates IPRU-INV, FC and EG - FCA is updating its Handbook on its website to convert the Interim Prudential sourcebook for Investment Businesses (IPRU-INV), the Financial Crime Guide (FC) and the Enforcement Guide...more

The Arbitration Court declares it legal to deduct license fees for use of trademarks

The Arbitration Court declares it legal to deduct license fees for use of trademarks - The Moscow Arbitration Court rendered the Decision of December 31, 2015 on case No. ?40-153860/15. The case was essentially about the...more

Will Your EU Registrations Be Invalidated by the New Law?

On December 15, 2015, following several years of negotiations, the European Parliament and the Council of the European Union approved a new EU Trade Mark Directive as well as a new Trade Mark Regulation....more

January 2016 UK Immigration Update

New developments include the Migration Advisory Committee announcing its findings regarding Tier 2 of the Points-Based System, a requirement for private landlords to conduct right-to-rent checks, and changes to UK immigration...more

FTC Announces Hart-Scott-Rodino Annual Threshold Adjustments

The Federal Trade Commission (FTC) has announced the annual revisions to the monetary thresholds that determine whether companies are required to notify federal antitrust authorities about a transaction under Section 7A of...more

Migration Advisory Committee Announces Proposed Changes to Tier 2

The Migration Advisory Committee (“MAC”) has published its recommendations following an in-depth review of Tier 2, which is the primary route for economic migration to the UK. The MAC is an independent advisory body...more

SEC Issues Guidance on Oversight of Fund Payments of Sub-Accounting Fees

On January 6, 2016, the SEC’s Division of Investment Management issued a Guidance Update titled, “Mutual Fund Distribution and Sub-Accounting Fees” (the “Guidance”). The Guidance arises from a multi-year SEC staff review of...more

Ch-Ch-Changes? Mandatory Fees for Public Employees At Issue Before the Supreme Court

First things first. My favorite David Bowie song is “Heroes” (though I remember really being struck by its use in the 2001 movie, Moulin Rouge). But the song that comes to mine today for various reasons is “Changes” and...more

Break Fees in Private M&A

The speed of economic change in the energy sector has created legitimate concerns about volatility in the marketplace. This has caused both vendors and purchasers to be more cautious in deal making. One way to help the...more

SEC Staff Guidance on Fund Distribution and Sub-Accounting Fees: Emphasis on Process and Fully Informed Directors

In regulatory guidance published on January 6, 2016, the SEC’s Division of Investment Management tackled the knotty issue of how mutual funds, their investment advisers and independent fund directors should evaluate...more

Immigration Law Updates - January 5, 2016

Following are recent and/or anticipated changes to United States immigration laws, which may impact our clients: Proposed Changes to the Visa Waiver Program Following Terror Concerns - In the aftermath of the Paris...more

Individual Inquiries Predominate in 401(k) Litigation

In denying class certification in an action against Transamerica Life Insurance Company (TLIC), the Central District of California noted that the “sheer number of participants and plans” potentially involved in this...more

New Bill Increases L-1 and H-1B Visa Application Fees for Certain Companies

Last week, the President signed the Consolidated Appropriations Act of 2016 which provides full-year appropriations through September 2016 for all government agencies. Included in this bill are fee increases for certain L-1...more

Centers for Medicare & Medicaid Services Releases Fee Schedule Amounts for DMEPOS for 2016

On November 23, 2015 the Centers for Medicare & Medicaid Services (CMS) announced the fee schedules for 2016 for durable medical equipment, prosthetics, orthotics and supplies (DMEPOS). For items and services not included in...more

California Appellate Court Holds Groundwater Pumping Fees are Property-Related Fees Subject to Prop. 218

Decision Conflicts with a Separate Appellate Court Decision to be Considered by the California Supreme Court - In Great Oaks Water Company v. Santa Clara Valley Water District, originally issued March 26, the Sixth...more

2016 Medicare, Medicaid, CHIP Provider Enrollment Application Fee Announced

CMS has announced that the CY 2016 provider enrollment application fee is $554, up slightly from $553 in 2015. This application fee is required for institutional providers that are initially enrolling or revalidating...more

CFPB Reports on Effect of the CARD Act

On December 3, the CFPB published a report summarizing the impact of the Credit Card Accountability Responsibility and Disclosure Act (CARD Act) on consumers and the credit market. According to the report, access to credit...more

Update: NACHA Adopts Same-Day ACH Rule

Update: The Federal Reserve received forty comments in response to its request. A majority of the commenters supported both mandatory participation by RDFIs and the same-day fee payable by ODFIs to RDFIs. Many commenters...more

OCC Announces Calendar Year 2016 Fees and Assessments Structure

On December 1, the Office of the Comptroller of the Currency (OCC) announced in Bulletin 2015 – 47 the fees and assessments that will be charged by the OCC for calendar year 2016. The bulletin becomes effective January 1,...more

California DBO Reaches Settlement with Mortgage Lender regarding Affiliate Settlement Service Fees

On November 19, the California DBO announced a settlement with a residential retail mortgage lender to resolve allegations that, from September 30, 2009 through January 21, 2014, it overcharged consumers for a settlement...more

CML and Which? report on transparency of mortgage fees

CML and Which? have launched a new tariff of mortgage charges to introduce a standard format for how lenders communicate their fees. This is intended to make it easier for customers to understand charges and compare deals....more

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