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Multistate Tax Commission Enacts Significant Amendments to Its Compact

On July 30, the Multistate Tax Commission (MTC) approved amendments to the Multistate Tax Compact’s (1) definition of nonbusiness income, (2) definition of “sales,” (3) factor-weighting, (4) alternative apportionment, and (5)...more

Delaware Formally Adopts Proposed Statutory Amendments Governing Mergers Following the Completion of a Tender Offer

The governor of Delaware recently signed into law previously proposed amendments to Section 251(h) of the Delaware General Corporation Law (“DGCL”), which make Section 251(h) more accessible to deal parties by...more

SEC Issues Money Market Fund Reform Rules

On July 23, the SEC adopted amendments to the rules that govern money market mutual funds. The new rules require a floating net asset value (NAV) for institutional prime money market funds to fluctuate, which allows the daily...more

SEC Adopts Amendments to Money Market Fund Rules

The Securities and Exchange Commission (SEC) today adopted long-awaited and highly anticipated amendments to rules under the Investment Company Act of 1940 (the 1940 Act) governing money market funds. ...more

2014 Changes to Delaware Corporate Law

Earlier this month, several significant amendments to the Delaware General Corporation Law (the DGCL) were approved. These amendments are substantially the same as the amendments originally proposed in April 2014 and will...more

SEC Approves Amendments to Rules Governing Money Market Funds

Yesterday, the U.S. Securities and Exchange Commission (“SEC”), by a vote of 3 to 2, approved amendments to Rule 2a-7 and other rules that govern money market funds under the Investment Company Act of 1940 (the “Amendments”)....more

Mexico’s online tax surveillance becomes operational

As part of the Tax Reform that became effective on January 1, 2014, the Mexican Congress passed a series of amendments to the Federal Tax Code for the purpose of modernizing and facilitating the compliance and enforcement of...more

Executive Order Protects Federal Contractor LGBT Workers

Yesterday President Obama issued an Executive Order extending antidiscrimination protection on the basis of sexual orientation and gender identity, as well as including these categories in affirmative action requirements....more

President Obama Issues Executive Order Barring Sexual Orientation and Gender Identity Discrimination by Federal Contractors

On July 21, 2014, President Obama issued an Executive Order that makes it illegal for federal government contractors to discriminate on the basis of sexual orientation or gender identity. The Executive Order amends Executive...more

Discrimination Against LGBT Employees of Federal Contractors and Federal Employees Now Prohibited by President Obama’s Amendments...

On Monday, July 21, 2014, President Obama amended two previously issued executive orders to extend protection against workplace discrimination to lesbian, gay, bisexual and transgender employees of federal contractors and the...more

Tax Newsletter - May/June 2014 (China & Hong Kong)

Editorial Note: Welcome to our redesigned Tax Newsletter. You will notice we have streamlined the publication and will now publish bi-monthly instead of quarterly. For major developments that may be highly...more

FINRA Continues Investor-Friendly Arbitration Reforms

The Financial Industry Regulatory Authority (FINRA) is submitting rule amendments for SEC approval that would generally make individuals with any past ties to the financial industry ineligible to be considered "public" FINRA...more

Overhaul of Washington State Investment Adviser Rules: What it Means for Hedge, Private Equity and Venture Capital Fund Managers...

In June 2014, the Washington State Department of Financial Institutions, Securities Division amended the rules applicable to investment advisers in the state of Washington in Chapter 460-24A of the Washington Administrative...more

"European Commission Issues Merger Reform White Paper Regarding Minority Shareholdings and Member State Referrals"

On July 9, 2014, the European Commission published its proposal (White Paper) outlining the approach it intends to adopt with respect to the application of the EU Merger Regulation (EUMR) to the acquisition of minority...more

Civil Code Reform on Companies

Special Alert: On 5 May 2014 the President signed Federal Law No. 99-FZ which introduces certain amendments to Chapter 4 of Part One of the Civil Code and removes certain provisions from Legislative Acts of the...more

June 2014: Appellate Practice Update

Comparison of Circuits’ Local Rules. While the Federal Rules of Appellate Procedure (“FRAP”) set high-level ground rules for appellate practice in the federal courts of appeals, practice in those courts is in fact far from...more

ICDR Releases Revised Rules for Arbitration and Mediation

The International Centre for Dispute Resolution (ICDR) has updated its International Dispute Resolution Procedures, including its Arbitration and Mediation Rules, effective June 1, 2014. The updates—the first undertaken by...more

FINRA Proposes to Amend Rule 2360

The Financial Industry Regulatory Authority, Inc. is proposing to amend FINRA Rule 2360(b)(23) to harmonize the expiration date of standardized equity options with the rules of The Options Clearing Corporation (OCC) and the...more

Kazakhstan Amends Legislation to Improve the Investment Climate

The amendments offer an incentives package for new projects in industries of prime importance. The Law on Amendments to Certain Legislative Acts of the Republic of Kazakhstan to Improve the Investment Climate (the Law)...more

PCAOB Adopts New Auditing Standard No. 18, Related Parties

On June 10, 2014, the Public Company Accounting Oversight Board (PCAOB) adopted Auditing Standard No. 18, Related Parties, as well as amendments to certain PCAOB auditing standards regarding significant unusual transactions...more

China Amends Key Medical Device Regulations

The State Council of China passed amendments to the Regulations on Supervision and Administration of Medical Devices which came into effect on June 1, 2014. The amendments present significant regulatory changes that will...more

This Ruling Appears To “Unravel The Very Fabric Of The Space-time Continuum”

In prior posts, I’ve cast a jaundiced eye on last year’s amendment of California’s general securities fraud statute, Corporations Code Section 25401. See Die Verwandlung: How The Legislature Likely Raised The Bar On...more

Federal Reserve Board Repeals Duplicative Regulations, Finalizes Red Flag Rule Amendments

On May 22, the Federal Reserve Board repealed its Regulation DD, which implements TISA, and Regulation P, which implements Section 504 of the GLBA because the Dodd-Frank Act transferred rulemaking authority for those laws to...more

California AG Offers Best Practices for Do Not Track Disclosures; Crucial Compliance Questions Left Unanswered

California Attorney General Kamala Harris released a long-awaited report entitled Making Your Privacy Practices Public (Report) on May 21, 2014. The Report recommends “best practices” for compliance with the California Online...more

Chinese Government Issues Amendment to Environmental Protection Law to Fight Against Pollution

The National People’s Congress passed the Amendment to the Chinese Environmental Protection Law (the “Amendment”) on April 24, 2014. The amended Environmental Protection Law will take effect on Jan. 1, 2015. The...more

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