Foreign Entities

News & Analysis as of

CFTC Extends Relief to Four Foreign Clearing Organizations

On December 18, the Division of Clearing and Risk (DCR) of the Commodity Futures Trading Commission extended the no-action relief previously granted to four foreign clearing organizations: ASX Clear (Futures) Pty Limited,...more

NAIC Approves Seven Foreign Countries As Qualified Jurisdictions For Reinsurance Collateral Reduction Requirements And Announces...

At its December 11, 2014 meeting, the National Association of Insurance Commissioners (NAIC) approved seven foreign countries as Qualified Jurisdictions so that reinsurers licensed and domiciled in those jurisdictions will be...more

Weekly Update Newsletter - December 2014 #2

GOVERNMENT CONTRACTS - DoD Issues Final Rule to Amend DFARS Foreign Commercial Satellite Services (DFARS Case 2014-D010) - The Department of Defense (DoD) issued an interim rule adopted as final with minor...more

Is International Service of Process by Mail Permitted?

When a foreign client is sued in a U.S. court, the first question we typically address is the issue of how the complaint was served. It is not uncommon for some plaintiff’s lawyers to attempt service of process over a foreign...more

Poland: Consequences of proposed amendment to Polish Gambling Act for foreign operators

On 21 October 2014, the Council of Ministers considered a draft amendment (version as of 17 October 2014) to the Polish Gambling Act dated 19 November 2009 which envisages a new opportunity for foreign gambling operators to...more

FATCA Alert

In recent years, the United States has increased initiatives to counter tax evasion committed by U.S. persons who are not reporting and paying U.S. income tax on earnings derived from foreign financial assets. The Foreign...more

Foreign Marketing Materials Relevant to Domestic Infringement

Amdocs (Israel) Ltd. v. Openet Telecom, Inc. - In an appeal of a lower court’s summary judgment of no infringement of four patents, the U.S. Court of Appeals for the Federal Circuit reversed the lower court’s judgment...more

FRANCHISEE 101: Forum Selection Clauses May Be Enforceable

A recent decision in Allegra Holdings, LLC v. Davis demonstrates that courts are enforcing forum selection clauses in favor of out-of-state franchisors and against in-state franchisees, notwithstanding franchise anti-waiver...more

PA Tax Law News - September 2014

In This Issue: - Sales Factor Sourcing of Services & Intangibles - Nonresident Limited Partners Liable for Personal Income Tax - PA Appeal Systems Changes Update - Personal Responsibility for...more

The Next Big Thing for Companies Outside the US: US IPOs Using a Yield-oriented Structure

Ten practical considerations can help companies around the world tap the significant US capital market with IPOs. Investors in the United States continue the search for yield. Over the past several years, over 60...more

Indiana DOR Finds Economic Nexus, Disregards UPS

The Indiana Department of Revenue recently concluded that a company that earned royalty income from licensing trademarks and trade names to two of its Indiana affiliates, and had no physical presence in the state, nonetheless...more

Privacy or Politics? – Russia Seeks More Control Over its Citizens’ Personal Data

Back in July, President Vladimir Putin signed a law (Federal Law No. 242-FZ) that compels “data operators” to store Russian citizens’ personal data only inside Russia. Previously, Russian law allowed the storage of data...more

Editorial: For Fla. Courts, Forum Selection Clause May Not Be Enough

You represent a Brazilian corporation that is entering into a joint venture with a Colombian concern. The joint venture relates to the development of a multimillion dollar wind farm in northeastern Brazil. Originally...more

Weekly Update Newsletter - August 2014 #2

In this issue: - Obama Signs Order Boosting Federal Contract Worker Rights - DoD Issues Interim Rule to Amend DFARS Foreign Commercial Satellite Services (DFARS Case 2014-D010) - Obama Administration...more

Back to School: 7th Circuit Issues Two Decisions on International Diversity Jurisdiction

Putting together all the Seventh Circuit’s decisions from the last few decades on subject-matter jurisdiction would yield an impressive textbook on the subject. The court (and Judge Easterbook, in particular) has adhered...more

D.C. Circuit Issues Ruling in Important CFIUS Case

The D.C. Court of Appeals recently issued a landmark decision in Ralls Corporation v. Committee on Foreign Investment in the United States (CFIUS), No. 13-5315, slip. op. (D.C. Cir. July 15, 2014), that could have...more

Is Your Out-of-State LLC “Doing Business” in California?

Individuals and entities, including those from outside California, who invest in or do business through an out-of-state limited liability company (“LLC”) may be surprised to find out that they have filing obligations and tax...more

Madoff Bankruptcy Decision Offers Protection for Foreign Investors

In re Madoff Securities Extends Morrison Framework to Prevent Avoidance of Purely Foreign Transfers under SIPA and the Bankruptcy Code - Applying the U.S. Supreme Court’s landmark decision in Morrison v. National...more

Check-the-Box Elections: Relevance in the International Context

One of the most powerful tools in cross-border tax planning is the ability to make a “check-the-box” election. Pursuant to the entity classification regulations under Internal Revenue Code §7701 (the “check-the-box...more

Foreign Tax-Exempt Organizations Exempt from Withholding Tax

Investment funds, including private equity funds, often receive capital contributions from tax-exempt organizations. These tax-exempt institutions may include U.S. and foreign pension funds, as well as U.S. and foreign...more

U.S. Court of Appeals Provides Long-Awaited Guidance Regarding Whether an Entity Should be Considered an ‘Instrumentality’ of a...

In a decision with significant implications regarding the application of the Foreign Corrupt Practices Act (“FCPA”), the U.S. Court of Appeals for the Eleventh Circuit has clarified the framework for determining whether an...more

FCPA Compliance and Ethics Report-Episode 66-Visit with the FCPA Professor [Video]

In this episode I welcome back the FCPA Professor who gives his views on the Esquenazi decision, his recent book and his upcoming FCPA Institute....more

Esquenazi Appeal Confirms the Broad Reach of the Foreign Corrupt Practices Act (FCPA)

In last month’s closely watched Esquenazi decision, a U.S. court of appeal weighed in on the definition of “instrumentality” under the Foreign Corrupt Practices Act (FCPA) for the first time. The case—an appeal to the 11th...more

Eleventh Circuit Defines “Instrumentality” Under the FCPA

In a case of first impression for the US Court of Appeals for the Eleventh Circuit, the court interpreted the term “instrumentality” of a foreign government in the Foreign Corrupt Practices Act (FCPA). The court used the...more

Federal Court of Appeals Addresses Oft-Debated Definition of "Instrumentality" Under the Foreign Corrupt Practices Act

On May 16, 2014, the Eleventh Circuit Court of Appeals was the first federal appellate court to weigh in on the controversial definition of "instrumentality" under the Foreign Corrupt Practices Act (FCPA). In United States v....more

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