Time Extensions

News & Analysis as of

SEC Extends Expiration of Rule 206(3)-3T, Regarding Principal Trades, to December 31, 2016

On December 17, the Securities and Exchange Commission amended Rule 206(3)-3T under the Investment Advisers Act of 1940 to extend the expiration date of the Rule from December 31, 2014 to December 31, 2016. ...more

Federal Reserve Board Grants One-year Extension on Volcker Rule Conformance for Certain Covered Funds

The Federal Reserve today extended the Volcker Rule conformance period for legacy covered funds from July 21, 2015 to July 21, 2016, and also granted a further one year extension until July 21, 2017. At 3 pm today...more

OFAC Further Extends Iranian Sanctions Relief

On November 24, 2013, the United States and its negotiating partners, China, France, Germany, Russia, and the United Kingdom (the P5 + 1), reached an initial understanding with Iran concerning its nuclear program, the Joint...more

House Passes PTC Extension through End of 2014

Today, the House passed H.R. 5771. To become law, H.R. 5571 must still pass the Senate and be signed by the President. We expect both of those steps will occur by the end of the year....more

U.S. and EU Extend Temporary Iran Sanctions Relief a Second Time

The temporary and limited changes to U.S. and European Union (“EU”) sanctions policy for Iran, as agreed under the interim nuclear deal reached by Iran and the P5 + 1 countries, have been extended until June 30, 2015. Most...more

European Commission Extends Deadline for the CRR

On November 14, the European Banking Committee (Committee) of the European Commission (EC) voted to extend the December 15 transitional deadline under the EU Capital Requirements Regulation (CRR). If the extension had not...more

Multiple Requests for Extension of Medical Leave – Three Strikes and the Employee Is Not Out!

A recent Americans with Disabilities Act case is a reminder the employers must proceed carefully before denying repeated requests for extensions of medical leave by an employee. In the case, the employer had a “personal...more

White House Extends Visa Validity Reciprocity With China

President Obama issued a statement on November 10, 2014, that the U.S. and China have mutually agreed to increase the validity of tourist and business visas issued to each country's respective citizens. The White House notes...more

Extension to Deadline to Disclose Relevant Transactions for Fiscal Year 2014

Pursuant to article 31-A of the Federal Tax Code, rule I.2.8.1.14 and Annex 1-A of the Fifth Set of Amendments to the Miscellaneous Fiscal Resolution for Fiscal Year 2014, as of January 1, 2014, taxpayers are obliged to...more

Tips for Taking Advantage of California’s Extended Unemployment Appeal Deadline

Busy human resources (HR) managers will be relieved to know that California has done something to make their job just a little easier. The State of California recently enacted legislation extending the time period to appeal...more

FHFA Extends Comment Period on Proposed Revisions to Federal Home Loan Bank Membership Eligibility Requirements

On October 6, the FHFA announced that it is extending the comment period for its proposed rule on Federal Home Loan Bank membership by 60 days, or to January 12, 2015. ...more

PTAB - Trulia and Zillow possible merger is not a sufficient basis for extending the 12 month period to complete the trial

In Trulia, Inc. v. Zillow, Inc., Trulia filed a petition seeking covered business method review of U.S. Patent No. 7,970,674 relating to automatically determining a current value for a real estate property. CBM2013-00056. On...more

Export-Import Bank Is Reauthorized Through June 2015

Congress passed a short-term extension of the U.S. Export-Import Bank's (Ex-Im Bank's) charter last month, setting up a battle over the Bank's existence in the 114th Congress. The nine-month renewal plan was placed into a...more

The Deadline Approaches for Requesting an Extension to Make a Portability Election under IRS Revenue Procedure 2014-18’s...

In January 2014 the IRS issued Rev. Proc. 2014-18 providing a simplified method for certain taxpayers to request an extension to make a portability election under Internal Revenue Code (IRC) § 2010(c)(5)(A). However, a...more

OFCCP Notice of Proposed Extension of Record-Keeping Requirements for Construction Contractors

On September 2, 2014, the Office of Federal Contract Compliance Programs (OFCCP) published in the Federal Register a proposed renewal of the current record-keeping, notice, and reporting requirements imposed by Executive...more

CFPB Extends Remittance Transfer Rule Exception Until 2020

On August 22, the CFPB announced that it is amending Regulation E in order to extend a temporary exception that allows federally insured institutions to provide estimates rather than exact amounts when disclosing third-party...more

CEQA: Are time extensions for nonconforming uses exempt from review?

Is an extension of time for an existing nonconforming use exempt from CEQA review? A new writ action just filed proposes to resolve that issue....more

Extension clauses in FOB contracts

The High Court has recently considered the purpose and effect of the GAFTA FOB contract “Extension of Delivery” clause, which entitles a buyer to claim an extension to the delivery period. This alert considers the conclusions...more

FCA Warns Parties on Adjournment Requests

In recent years the Tax Court of Canada has strictly applied the requirements for adjournments and timetable amendments as described in the Court’s Practice Note No. 14. We understand this may have been prompted by a practice...more

2-year extensions of development orders and building permits - File before December 31, 2014 in order to receive a 2-year...

Bilzin Sumberg's Government Relations & Land Development Group is keeping its finger on the pulse of recent legislation that may affect you. If you have a current permit or development order which is scheduled to expire...more

Legislature Again Approves Two Year Permit Extensions for Projects

The Florida Legislature has again approved a two-year permit extension for local government-issued development orders, building permits, level of service certificates, and permits issued by the Florida Department of...more

Federal Reserve Extends Compliance Period under Volcker Rule for Collateralized Loan Obligations

While collateralized loan obligation vehicles (CLOs) may ultimately have to be divested by “banking entities” subject to the Volcker Rule, the Federal Reserve Board (the Board) recently extended the compliance period for...more

Federal Reserve Extends Compliance Deadline for CLOs

On April 7, the Federal Reserve Board (Board) announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in, and sponsorship of,...more

Federal Reserve Extends Volcker CLO Compliance Period

On April 7th the Federal Reserve Board (the “Fed”) announced that it would provide banking entities with two additional one-year extensions to conform their ownership of CLOs covered by the Volcker Rule. The Fed stated that...more

IRS Grants Extension of Time to Take Advantage of Portability Election

The IRS has provided relief for persons who missed the opportunity to make a "portability election." To understand the importance of the relief, a review of the basics is in order....more

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