A counterclaim plaintiff’s claims in a complex trade secret action involving the development of cell-cultured human milk suffered a rather pedestrian fate given the important technological stakes. The counterclaim defendants...more
On February 9, 2023, Treasury Secretary Janet Yellen spoke at the Center for Strategic and International Studies, urging the World Bank to “evolve” and be “bolder and more imaginative” in its operational approach to tackling...more
Major Developments- Secretary of the Treasury Janet L. Yellen Sends Letter to Congressional Leadership on the Debt Limit- January 19, 2023- U.S. Secretary of the Treasury Janet L. Yellen sent a letter to all members of...more
The U.S. Department of the Treasury (Treasury) published a Request for Comment on Ensuring Responsible Development of Digital Assets. As stated by Treasury, the Request for Comment seeks input on “the illicit finance and...more
On September 16, 2022, the White House released a Fact Sheet outlining the “First-Ever Comprehensive Framework for Responsible Development of Digital Assets.” The framework addresses various topics related to both domestic...more
The Inflation Reduction Act of 2022 (IRA) includes increased Internal Revenue Service (IRS) funding in the amount of approximately $80 billion over ten years. According to a Congressional Research Service report, the law...more
On May 19, 2022, the U.S. Department of Commerce (Commerce) published a Request for Comment titled “Developing a Framework on Competitiveness of Digital Asset Technologies” (Request for Comment). Digital assets, in this...more
Earlier last week, Department of the Treasury Secretary Janet Yellen provided testimony and responded to questions from the Senate Banking Committee regarding volatility in cryptocurrencies that are designated to be...more
On April 7, 2022, Secretary of the Treasury Janet Yellen delivered remarks on digital assets policy, innovation and regulation. Yellen started by noting that, a few weeks ago, President Biden signed an Executive Order on a...more
On March 28, Representative Stephen Lynch (D-MA), along with co-sponsors Jesús G. García (D-IL), Rashida Tlaib (D-MI), Ayanna Pressley (D-MA), and Alma Adams (D-NC), introduced H.R. 7231, the Electronic Currency and Secure...more
U.S. companies will soon face new reporting requirements under the Corporate Transparency Act (“CTA”). The new law will require entities identified as reporting companies to provide information about their beneficial owners....more
In This Issue. President Biden signed an executive order addressing climate-related financial risks; the Office of the Comptroller of the Currency (OCC) finalized a rule applicable to national banks and federal savings...more
The SAFE Banking Act is back. First introduced in 2019, the Secure and Fair Enforcement Act (“SAFE”) passed in the House but died in the Republican-controlled Senate. Now, the bill has been reintroduced in both the House and...more
The U.S. Congress slipped the Corporate Transparency Act (CTA) into the National Defense Authorization Act enacted on January 1, 2021, after an override of former President Trump’s veto. The CTA will increase the regulatory...more
I – Overview of the Butch Lewis Emergency Pension Plan Relief Act- The much-heralded Butch Lewis Emergency Pension Plan Relief Act of 2021 (the “Butch Lewis Act of 2021”) is closer to becoming a reality as part of the...more
Procedural Mumbo Jumbo? Remember your civics class in elementary school? * * * . What’s that? Not really. * * *. Doodling, you say? * * * . The principal’s office? OK, what about high school social studies? * * * ....more
Private equity behemoth Apollo Global Management’s CEO, Leon Black, is stepping down after an outside inquiry by Dechert—“ordered by the firm’s board at Mr. Black’s behest in October”—revealed that Black “had paid more than...more
On New Year’s Day, Congress overrode President Trump’s veto of the National Defense Authorization Act (NDAA) for the 2021 fiscal year, turning the bill into law without requiring the president’s signature. The NDAA includes...more
The Congressional Oversight Commission will hold a hearing today to examine the funds authorized by the CARES Act that provide up to $17 billion for loans and loan guarantees to businesses critical to maintaining national...more
The Department of Labor has finally announced a final rule establishing registration requirements for pooled plan providers under the SECURE Act....more
The official transition to a new administration and early Cabinet selections helped drive Wall Street to new highs on Tuesday, with the Dow topping 30,000 for the first time and the S&P 500 up 1.6% to another new high, too....more
On November 12, 2020, President Donald Trump signed an executive order prohibiting “United States persons” from engaging in “transactions” in securities of “Chinese Communist military companies.” The order marks another...more
The US Secretary of the Treasury announced sanctions this summer on 11 individuals who the Secretary views as being involved in implementing the recently enacted Law of the People’s Republic of China on Safeguarding National...more
In Washington: Hopes for a quick resolution to the stimulus talks continue to fade though House Speaker Nancy Pelosi (D-CA) and Treasury Secretary Steven Mnuchin continue talking this week to try and bridge the gap between...more
In Washington: On a conference call Saturday, Senate Republicans relayed their objections to another enormous coronavirus relief package to party leaders and top Trump officials. Members cited that Republican voters have...more